Company: IMCR
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001671927-25-000018
Chunk: 76

Company: Immunocore Holdings plc
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 76
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 2024. This decrease of $2.7 million reflects less favorable exchange rate movements mainly due to the strengthening of the U.S. dollar against the pound sterling and the euro in the three months ended September 30, 2025.

Other Income, Net

For the three months ended September 30, 2025, other income, net was $5.1 million compared to $9.0 million for the three months ended September 30, 2024. This decrease was due to higher unrealized gains resulting from the change in fair value of our marketable securities in the three months ended September 30, 2024 related to more favorable interest rate movement. 

Income Tax (Expense) Benefit

For the three months ended September 30, 2025, the income tax expense was $0.5 million compared to an income tax benefit of $2.6 million for the three months ended September 30, 2024. This change was due to a favorable discrete item in the three months ended September 30, 2024 related to U.S. research tax credits claimed on our 2023 U.S. income tax return. 

21

Comparison of the Nine Months Ended September 30, 2025 and 2024

Revenue

The following table summarizes our total revenue (in thousands):

Nine Months Ended September 30,20252024Increase / (decrease)% Increase / (decrease)Revenue from sale of therapies, net$295,538 $225,937 $69,601 30.8 %Collaboration revenue— 213 (213)(100.0)%Total revenue$295,538 $226,150 $69,388 30.7 %

Revenue from sale of therapies, net

Revenue from sale of therapies, net is presented by country / region based on location of the end customer below (in thousands).Nine Months Ended September 30,20252024Increase / (decrease)% Increase / (decrease)United States$187,994 $162,900 $25,094 15.4 %Europe99,372 55,454 43,918 79.2 %International8,172 7,583 589 7.8 %Revenue from sale of therapies, net$295,538 $225,937 $69,601 30.8 %

For the nine months ended September 30, 2025, we generated revenue from sale