Immunocore Holdings (IMCR) Margins & Profitability 2023-2026

Gross, EBITDA, operating, and net margin trends

Margins

Profit margins across the income statement

Gross Margin: 99.1%
EBITDA Margin: -1.7%
Op. Margin: -2.6%
Net Margin: -0.7%

Op. margin of -2.6% is up 12.6% YoY — cost efficiency is improving. Net margin at -0.7% and gross margin of 99.1% show how much of each revenue dollar survives to profit.

Gross Margin (%)

Revenue left after direct cost of goods sold

EBITDA Margin (%)

Operating profitability independent of capital structure

Operating & Net Margins (%)

How much of each dollar becomes profit