| Segment Reporting, Reconciliation of Profit (Loss) by Segment to Consolidated |
Net loss for our reportable segment is as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | | | | | | | | | | | Total revenue | $ | 51,240 | | | $ | 26,425 | | | $ | 95,446 | | | $ | 42,942 | | | | Cost of sales | 298 | | | 136 | | | 536 | | | 194 | | | | Gross profit | 50,942 | | | 26,289 | | | 94,910 | | | 42,748 | | | | Operating expenses | | | | | | | | | External research and development expense (including amounts with related parties) (1) | 10,424 | | | 8,552 | | | 30,506 | | | 14,063 | | | Internal research and development expense (including amounts with related parties): (2) | | | | | | | | | | Personnel-related costs | 26,602 | | | 23,632 | | | 52,452 | | | 46,697 | | | | Equipment, depreciation, and facility costs | 13,410 | | | 13,111 | | | 26,998 | | | 26,303 | | | | Other research and development costs | 10,380 | | | 9,941 | | | 18,849 | | | 16,407 | | | | Total internal research and development expense | 50,392 | | | 46,684 | | | 98,299 | | | 89,407 | | | Total research and development expense (including
amounts with related parties) | 60,816 | | | 55,236 | | | 128,805 | | | 103,470 | | | Selling, general and administrative (including
amounts with related parties) | 51,823 | | | 42,338 | | | 97,593 | | | 74,992 | | | | | | | | | | | | | Total operating expenses | 112,639 | | | 97,574 | | | 226,398 | | | 178,462 | | | | Loss from operations | (61,697) | | | (71,285) | | | (131,488) | | | (135,714) | | | | Other income (expense), net | | | | | | | | | | Interest and investment income, net | 3,155 | | | 1,153 | | | 5,469 | | | 2,040 | | | | Change in fair value of related-party convertible note | (95,964) | | | 1,169 | | | (332,589) | | | (41,413) | | | | Change in fair value of warrant liabilities | (44,190) | | | 3,889 | | | (339,603) | | | 3,441 | | | | Interest expense related to revenue interest liability | (17,192) | | | (13,405) | | | (31,063) | | | (26,939) | | | | Interest expense (including amounts with related parties) | (14,052) | | | (15,479) | | | (28,645) | | | (30,810) | | | | Change in fair value of derivative liabilities | (692) | | | 1,931 | | | 416 | | | 7,509 | | | | | | | | | | | | | Other income (expense), net | 242 | | | (278) | | | (5,675) | | | (319) | | | | Total other expense, net | (168,693) | | | (21,020) | | | (731,690) | | | (86,491) | | | | Loss before income taxes and noncontrolling interests | (230,390) | | | (92,305) | | | (863,178) | | | (222,205) | | | | Income tax expense | — | | | (269) | | | (9) | | | (35) | | | | Net loss | (230,390) | | | (92,574) | | | (863,187) | | | (222,240) | | | | Net loss attributable to noncontrolling interests, net of tax | (12) | | | (19) | | | (27) | | | (39) | | | | Net loss attributable to ImmunityBio common stockholders | $ | (230,378) | | | $ | (92,555) | | | $ | (863,160) | | | $ | (222,201) | | |
_______________ | | | | | | | (1) | Our external research and development expense supports our various preclinical and clinical programs. | | (2) | Our internal research and development expense includes payroll and benefits expenses, facilities and equipment expense, and other indirect research and development expenses incurred in support of our research and development activities. |
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