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ImmunoPrecise Antibodies (IPA)
NASDAQ:IPA
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ImmunoPrecise Antibodies
(NASDAQ:IPA)
Rating:63Neutral
Price Target:
$2.00
▲(0.50% Upside)
Positive Factors
Canadian Facility Growth
The expansion of the Canadian facility, with an 83% increase in quarterly orders and a 93% increase in orders from new clients, supports future growth despite the Dutch divestiture.
Divestment Impact
The completion of the divestment of the Dutch facility provides a positive cash runway extension and margin expansion opportunities.
Financial Performance
ImmunoPrecise Antibodies (IPA) reported positive financial results for their 4Q25, including revenues of CDN$7.0 million, up 8% year-over-year, with a reduced net loss of $2.2 million, or ($0.15) per share.
Negative Factors
Geographic Footprint Reduction
Reducing the company's geographic footprint through divestment allows for better focus on the long-term strategy to grow the AI business.
Risk Factors
Risks associated with the company's future include commercial, execution, legal, competition, and intellectual property challenges.
ImmunoPrecise Antibodies (IPA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$93.23M
Dividend YieldN/A
Average Volume (3M)1.80M
Price to Earnings (P/E)―
Beta (1Y)1.31
Revenue Growth-3.20%
EPS Growth12.24%
CountryUS
Employees72
SectorHealthcare
Sector Strength41
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.04
Shares Outstanding46,154,118
10 Day Avg. Volume971,111
30 Day Avg. Volume1,799,964
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)0.00
Price to Sales (P/S)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap0.24
Enterprise Value/Revenue0.92
Enterprise Value/Gross Profit1.82
Enterprise Value/Ebitda-0.74
Forecast
1Y Price Target
$3.33Price Target Upside67.34% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
ImmunoPrecise Antibodies Business Overview & Revenue Model
Company DescriptionImmunoPrecise Antibodies (IPA) is a biotechnology company specializing in the development and production of high-quality monoclonal antibodies and other related biopharmaceutical products. Based in Canada, IPA operates primarily in the life sciences sector, focusing on therapeutic and diagnostic applications in various fields including oncology, autoimmune diseases, and infectious diseases. The company's core services include custom antibody development, antibody discovery, and characterization, along with offering a suite of proprietary technologies aimed at accelerating drug development processes.
How the Company Makes MoneyImmunoPrecise Antibodies generates revenue through multiple key streams. The primary revenue source comes from custom antibody development services, where clients pay for the design and production of specific antibodies tailored to their research needs. Additionally, IPA earns income from its proprietary technologies and platforms, which are licensed to pharmaceutical and biotechnology companies for drug development purposes. The company also engages in collaborative research agreements and partnerships with academic institutions and industry players, resulting in funding and shared revenue opportunities. Furthermore, IPA's focus on therapeutic antibody candidates allows it to potentially benefit from royalties and milestone payments if these candidates progress through clinical trials and reach commercialization.
ImmunoPrecise Antibodies Earnings Call Summary
Earnings Call Date:Jul 29, 2025
(Q4-2025)
| % Change Since: -1.49%|
Next Earnings Date:Sep 11, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant achievements, including record-setting revenue, improved gross margins, and strong growth in key segments. Despite slight delays in the divestiture process and marginal annual revenue growth, the overall financial and strategic progress positions the company well for future success.Q4-2025 Updates
Positive Updates
Record-Setting Fourth Quarter Revenue
ImmunoPrecise Antibodies (IPA) achieved its highest quarterly revenue in company history with $7 million, marking a significant milestone.
Significant Improvement in Gross Margins
Gross margin improved to 64% in Q4, up from 48% in the same quarter of the previous fiscal year. For the full fiscal year, gross margins expanded by 600 basis points from 49% to 55%.
BioStrand Segment Growth
BioStrand segment grew more than 180% year-over-year, delivering gross margins approaching 90%.
Reduction in Adjusted EBITDA Loss
Adjusted EBITDA loss was narrowed to $316,000 in the fourth quarter, a significant improvement from a loss of $1.7 million in the same quarter last year.
Strong Growth in Canadian Business
Canadian business showed strong growth with sales orders reaching $4.3 million in Q4, more than double historical quarters.
Compliance with NASDAQ Requirements
Regained compliance with NASDAQ's minimum bid price requirement, reflecting growing market confidence.
Strategic Collaborations and Partnerships
Entered into strategic collaborations with companies like RIBOPRO and a multibillion-dollar technology company, enhancing platform capabilities and expanding market reach.
Strong Cash Position
Held $10.8 million in cash as of April 30, 2025, compared to $3.5 million at fiscal year-end 2024, indicating financial discipline.
Negative Updates
Divestiture of Dutch Subsidiary
The divestiture process of the Dutch subsidiary has extended beyond original expectations, although it remains on track for near-term completion.
Slight Increase in Fiscal Year Revenue
Total revenue for the fiscal year 2025 was $24.5 million, showing only a slight increase over fiscal year 2024 revenues.
Company Guidance
During ImmunoPrecise Antibodies' fourth quarter and full fiscal year 2025 earnings call, the company reported record-setting performance with $7 million in revenue for the fourth quarter, marking the highest quarterly revenue in its history. This was an 8.1% increase from the previous year and a 13.5% increase from the prior quarter. The gross margin improved significantly to 64% in Q4, up from 48% in the same quarter last year, contributing to a full-year gross margin of 55%, up from 49% in the previous fiscal year. This improvement was largely driven by the BioStrand segment, which experienced over 180% year-over-year growth, achieving gross margins near 90%. The company also reported a narrowed adjusted EBITDA loss of $316,000 for Q4, a substantial improvement from a $1.7 million loss in the year-ago period. Additionally, the Canadian business saw robust growth, with sales orders reaching $4.3 million in Q4, a 47% year-over-year increase. ImmunoPrecise Antibodies is in the final stages of divesting its Dutch subsidiary, which is expected to streamline operations and strengthen the balance sheet. The company plans to rebrand, emphasizing its transition to a bio-native AI platform with the LENSai platform at its core, aiming to enhance drug discovery processes and strengthen its competitive edge.ImmunoPrecise Antibodies Financial Statement Overview
Summary
ImmunoPrecise Antibodies faces significant financial challenges, with persistent losses and cash flow issues. While the balance sheet shows moderate leverage, cash flow and profitability metrics indicate a need for strategic improvements.Income Statement
ImmunoPrecise Antibodies has shown a declining revenue trend with a recent dip in the TTM period. The company has consistently reported negative net income and EBIT, indicating ongoing profitability challenges. Gross profit margins have been stable but negative net profit margins highlight significant losses.45
Neutral
Balance Sheet
The company's balance sheet displays a moderate debt-to-equity ratio, indicating some leverage but not excessively high. The equity ratio suggests a reasonable proportion of equity financing. However, the declining stockholders' equity and total assets over recent periods could be a concern.50
Neutral
Cash Flow
Cash flow analysis reveals negative operating and free cash flows, pointing to cash management challenges. The company's ability to generate cash from operations is weak. Financing activities have provided liquidity, but reliance on external financing can pose risks.40
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 24.00M | 24.52M | 24.52M | 20.66M | 19.36M | 17.91M |
| Gross Profit | 12.20M | 13.55M | 12.05M | 11.56M | 10.98M | 11.54M |
| EBITDA | -30.14M | -28.86M | -22.95M | -21.04M | -11.99M | -1.42M |
| Net Income | -46.12M | -30.23M | -27.18M | -26.56M | -16.71M | -7.34M |
Balance Sheet | ||||||
| Total Assets | 45.53M | 44.44M | 59.99M | 77.81M | 93.49M | 66.96M |
| Cash, Cash Equivalents and Short-Term Investments | 12.91M | 10.66M | 3.46M | 8.28M | 29.96M | 41.76M |
| Total Debt | 12.93M | 13.40M | 13.68M | 7.27M | 2.55M | 3.46M |
| Total Liabilities | 20.41M | 20.82M | 26.07M | 20.01M | 18.21M | 10.04M |
| Stockholders Equity | 25.12M | 23.63M | 33.92M | 57.80M | 75.28M | 56.92M |
Cash Flow | ||||||
| Free Cash Flow | -9.37M | -7.21M | -5.64M | -21.33M | -11.18M | -2.03M |
| Operating Cash Flow | -7.70M | -6.41M | -4.25M | -19.83M | -9.92M | -600.00K |
| Investing Cash Flow | -1.55M | -799.00K | -1.56M | -1.97M | -5.21M | -2.46M |
| Financing Cash Flow | 16.43M | 14.89M | 1.02M | -621.00K | 2.88M | 43.38M |
ImmunoPrecise Antibodies Technical Analysis
Positive
1.99
Price Trends
1.41
Positive
0.93
Positive
0.69
Positive
Market Momentum
0.14
Positive
58.40
Neutral
75.00
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IPA, the sentiment is Positive. The current price of 1.99 is above the 20-day moving average (MA) of 1.86, above the 50-day MA of 1.41, and above the 200-day MA of 0.69, indicating a bullish trend. The MACD of 0.14 indicates Positive momentum. The RSI at 58.40 is Neutral, neither overbought nor oversold. The STOCH value of 75.00 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IPA.
ImmunoPrecise Antibodies Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $93.23M | ― | -102.69% | ― | -3.20% | 12.24% | |
54 Neutral | $38.90M | ― | -52.77% | ― | 1071.91% | -27.61% | |
51 Neutral | $7.43B | -0.36 | -45.45% | 2.27% | 22.98% | -2.34% | |
44 Neutral | $17.50M | ― | -88.27% | ― | ― | 32.57% | |
43 Neutral | $22.94M | ― | -63.84% | ― | ― | 12.95% |
* Healthcare Sector Average
Performance Comparison
IPA
ImmunoPrecise Antibodies
1.99
1.09
121.11%
LSTA
Lisata Therapeutics
2.66
-0.23
-7.96%
OVID
Ovid Therapeutics
0.86
-0.27
-23.89%
PASG
Passage Bio
6.38
-9.22
-59.10%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.