A company still losing money with shrinking sales, with high risk.
Watch out for
About 6 months of cash left at its current burn
Share count growing 33.1% a year (dilution)
Losing money, losses are large next to sales
Money moves
No insider buying or selling in the last 30 days
Institutions cut 1.3% from their holdings in the quarter ending June 2026 (48 bought, 34 sold)
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$0.87-3.3% that day
Company value
$90M
Share price times all shares
Cash vs value
35%
A big cushion: cash is a large part of what the company is worth
From INO's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26
$0
Sep '23Tap a barJun '26
Over 5 years, sales shrank about 61% a year.
What the price assumes
Your guesses, our math
Move the sliders to your own view of INO. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$0M
Profit in 5 years$0M
Price these guesses point to$0.00-100% vs $0.87 todayAbout -79% a year, before dividends
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
0/5Weak
MissReturn on equity 15%+Earns a lot on the money owners have in the business.-183.6%
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.Losses many times its sales
MissProfitable every yearSteady profits, not one good year.0 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$88.9M
MissShare count not growingNot diluting owners. Falling means buybacks.+135.8% in 3 years
Revenue
$65K
-70.0% vs prior year
5-year growth
-61.2%/yr
revenue, per year
Current ratio
1.40x
short-term assets / bills due
Free cash flow
-$88.9M
-136074.5% of revenue
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: debt under half of equity, gross margin 40%+. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 12
Revenue
$0
EPS
-$0.07
vs -$0.61
Free cash flow
-$18.0M
Share count
+110.2%
vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
0/ 100
This week
0
Normal week
0.9
vs normal
0.0x
SEC filings of any kind. 50 means a normal week.
Institutional ownership
■Steady-1.3%
Institutions cut 1.3% from their holdings. 48 bought, 34 sold. 2 quarters of net selling in a row.
Shares held by institutions32.8M
Sep '24Jun '26
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
+66.3%
Cash runwayAt last year's cash burn
4 months
Debt to equityLatest balance sheet: debt compared with what owners have
Total liabilities $45.0M
Shares outstandingLatest reported
103M
Why high risk
Losing money, losses are large next to sales
About 4 months of cash left at its current burn
Share count growing 66.3% a year (dilution)
Revenue down 70% from the year before
3 offering filings in 6 months (may sell new shares)
Earnings reports
Last 12
Next reportAround Nov 9 (est.)Estimated from the same quarter last year
Results filedAug 12
Results filedJul 29
Results filedMay 13
Results filedMar 12
Results filedNov 10, 2025
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days