Inovio Pharmaceuticals (INO) Operating Expenses (2010 - 2026)

Over the trailing twelve months to Jun 30, 2026, Inovio Pharmaceuticals reported Operating Expenses of $79.26 million, down 17.5% year-over-year; for FY2025, it came in at $86.89 million, down 22.8% from FY2024.

• Operating Expenses has declined in each of the last four years, with a five-year compound annual growth rate of -8.0% (FY2020 to FY2025).
• Going back by year, Operating Expenses was $112.62 million in FY2024 (-22.2%), $144.77 million in FY2023 (-47.9%), $277.84 million in FY2022 (-8.3%) and $302.99 million in FY2021 (+130.4%).
• The five-year range for quarterly Operating Expenses is $17.48 million (Q4 2025) to $106.35 million (Q4 2021).
• Year-over-year, Operating Expenses has declined for 16 consecutive quarters, with an average decline of 21.2% over the last eight quarters.
• The fastest year-over-year change in Operating Expenses over five years came in Q4 2021 (growth of 204.5%), and the weakest in Q2 2023 (a decline of 64.5%).
• Business Quant data shows INO's Operating Expenses at $21.95 million (Q1 2026), $17.48 million (Q4 2025) and $21.21 million (Q3 2025) in the three quarters before Q2 2026.