Inovio Pharmaceuticals - Public Comps and Valuation Multiples

Inovio Pharmaceuticals Overview

About Inovio Pharmaceuticals

Inovio Pharmaceuticals Inc is a United States-based biotechnology company. The company is focused on developing and commercializing DNA medicines to help treat and protect people from HPV-associated diseases, cancer and infectious diseases. The company is engaged in gene therapy, where its immunotherapy platform consists of DNA-based immunotherapy and electroporation delivery technologies.

Founded

1983

HQ

Employees

134

Website

inovio.com

Sectors

Drug Development & Therapeutics
Vaccines & Immunotherapies
BioTech

Financials

LTM Revenue $0.1M

Last FY EBITDA -$104M

EV

$89.6M

Valuation Multiples

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Inovio Pharmaceuticals Financials

As of August 2025, Inovio Pharmaceuticals reported last 12-month revenue of $0.1M.

In the same period, Inovio Pharmaceuticals achieved -$94.4M in LTM net income.

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Inovio Pharmaceuticals P&L

In the most recent fiscal year, Inovio Pharmaceuticals reported revenue of $0.2M and EBITDA of -$104M.

Inovio Pharmaceuticals expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$0.1M	XXX	$0.2M	XXX	XXX	XXX
Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
Gross Margin	n/a	XXX	n/a	XXX	XXX	XXX
EBITDA	n/a	XXX	-$104M	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	-47735%	XXX	XXX	XXX
EBIT	-$99.2M	XXX	-$112M	XXX	XXX	XXX
EBIT Margin	-78377%	XXX	-51617%	XXX	XXX	XXX
Net Profit	-$94.4M	XXX	-$107M	XXX	XXX	XXX
Net Margin	-74556%	XXX	-49254%	XXX	XXX	XXX
Net Debt	XXX	XXX	n/a	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Inovio Pharmaceuticals including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $0.1M. In the most recent fiscal year, Inovio Pharmaceuticals achieved $0.2M in revenue and -$104M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$0.1M	Analyst estimates available to subscribers	$0.2M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	n/a	Analyst estimates available to subscribers	n/a	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	n/a	Analyst estimates available to subscribers	NaN% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	n/a	Analyst estimates available to subscribers	-$104M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	n/a	Analyst estimates available to subscribers	-47735.2% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	-$99.2M	Analyst estimates available to subscribers	-$112M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	-78377.3% EBIT margin	Analyst estimates available to subscribers	-51616.9% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	-$94.4M	Analyst estimates available to subscribers	-$107M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	-74556.2% net profit margin	Analyst estimates available to subscribers	-49254.3% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	n/a	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Inovio Pharmaceuticals

This financial data table provides comprehensive performance metrics for Inovio Pharmaceuticals, a company based in United States of America. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Inovio Pharmaceuticals generated $0.1M in revenue over the last twelve months.
Net income over the last twelve months reached -$94.4M.

Fiscal Year Performance

In the most recent fiscal year, Inovio Pharmaceuticals reported $0.2M in total revenue.
Fiscal year EBITDA was -$104M.
The company maintained a gross profit margin of NaN% in the most recent fiscal year.
EBITDA margin for the fiscal year was -47735.2%.
Net profit margin reached -49254.3% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Inovio Pharmaceuticals. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Inovio Pharmaceuticals Stock Performance

Inovio Pharmaceuticals has current market cap of $126M, and EV of $89.6M.

Market Cap Evolution

Inovio Pharmaceuticals Stock Data

As of September 12, 2025, Inovio Pharmaceuticals's stock price is $2.

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$89.6M	$126M	XXX	XXX	XXX	XXX	$-2.48

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Inovio Pharmaceuticals Valuation Multiples

Inovio Pharmaceuticals's trades at 411.4x EV/Revenue multiple, and -0.9x EV/EBITDA.

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Inovio Pharmaceuticals Financial Valuation Multiples

As of September 12, 2025, Inovio Pharmaceuticals has market cap of $126M and EV of $89.6M.

Equity research analysts estimate Inovio Pharmaceuticals's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Inovio Pharmaceuticals has a P/E ratio of -1.3x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$126M	XXX	$126M	XXX	XXX	XXX
EV (current)	$89.6M	XXX	$89.6M	XXX	XXX	XXX
EV/Revenue	707.5x	XXX	411.4x	XXX	XXX	XXX
EV/EBITDA	n/a	XXX	-0.9x	XXX	XXX	XXX
EV/EBIT	-0.9x	XXX	-0.8x	XXX	XXX	XXX
EV/Gross Profit	n/a	XXX	n/a	XXX	XXX	XXX
P/E	-1.3x	XXX	-1.2x	XXX	XXX	XXX
EV/FCF	n/a	XXX	-0.9x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Inovio Pharmaceuticals Margins & Growth Rates

Inovio Pharmaceuticals's last 12 month revenue growth is 7784%

Inovio Pharmaceuticals's revenue per employee in the last FY averaged $2K, while opex per employee averaged $0.8M for the same period.

Inovio Pharmaceuticals's rule of 40 is -7888% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Inovio Pharmaceuticals's rule of X is unknown (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Inovio Pharmaceuticals Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	7784%	XXX	706%	XXX	XXX	XXX
EBITDA Margin	n/a	XXX	-47735%	XXX	XXX	XXX
EBITDA Growth	n/a	XXX	n/a	XXX	XXX	XXX
Rule of 40	-7888%	XXX	-39951%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	n/a	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$2K	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.8M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	34727%	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	51717%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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