IO Biotech, Inc. (IOBTQ) Operating Expenses (2020 - 2025)
IO Biotech's Operating Expenses came in at $19.36 million for Q3 2025, down 27.0% from $26.5 million a year earlier and down 16.5% from the prior quarter.
Powered by 
Analysis
IO Biotech, Inc. (IOBTQ) Operating Expenses (2020 - 2025) Analysis & Trends
Over the trailing twelve months to Sep 30, 2025, IO Biotech reported Operating Expenses of $92.05 million, down 4.5% year-over-year; for FY2024, it came in at $95.18 million, up 4.1% from FY2023.
- Operating Expenses has increased in each of the last four years, with a four-year compound annual growth rate of 75.0% (FY2020 to FY2024).
- Going back by year, Operating Expenses was $91.44 million in FY2023 (+28.0%), $71.42 million in FY2022 (+73.2%), $41.23 million in FY2021 (+306.4%) and $10.15 million in FY2020.
- The Q3 2025 figure represents the lowest quarterly Operating Expenses since Q1 2023.
- Year-over-year, Operating Expenses increased in four of the last seven quarters, with growth averaging 1.7%.
- The fastest year-over-year change in Operating Expenses over five years came in Q4 2021 (growth of 742.7%), and the weakest in Q3 2025 (a decline of 27.0%).
- Business Quant data shows IOBTQ's Operating Expenses at $23.17 million (Q2 2025), $22.58 million (Q1 2025) and $26.94 million (Q4 2024) in the three quarters before Q3 2025.
Peer Set
Peer Comparison
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | 19.36 Mn |
| Jun 30, 2025 | 23.17 Mn |
| Mar 31, 2025 | 22.58 Mn |
| Dec 31, 2024 | 26.94 Mn |
| Sep 30, 2024 | 26.50 Mn |
| Jun 30, 2024 | 21.53 Mn |
| Mar 31, 2024 | 20.20 Mn |
| Dec 31, 2023 | 28.18 Mn |
| Sep 30, 2023 | 23.48 Mn |
| Jun 30, 2023 | 21.85 Mn |
| Mar 31, 2023 | 17.92 Mn |
| Dec 31, 2021 | 21.40 Mn |
| Sep 30, 2021 | 7.04 Mn |
| Dec 31, 2020 | 2.54 Mn |
| Sep 30, 2020 | 3.43 Mn |
API Access
IO Biotech, Inc. Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=IOBTQ&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "IOBTQ", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=IOBTQ&period=max&api_key=YOUR_API_KEY");
const data = await res.json();