All three tenses have at least two readings, so the archetype blend applies as printed.
Of the nine metrics, 8 read as filed from the record and 1 is an SI estimate, each with its reasoning, its confidence and what would change it on its card.
What did they actually do?
Has it survived what it has been through?
2 warning events since 2017; the latest 2023-12-08.
From the record
Agenus Inc.'s filings since 2017 show 2 warning events of 2 kinds: a debt default or acceleration notice (8-K item 2.04, the latest 2018-01-22); a notice about its exchange listing (8-K item 3.01, the latest 2023-12-08) (its current reports).
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What has it actually done, year after year?
+19.7% a year over 10 filed years; profitable in 0 of 10.
From the record
Agenus Inc.'s 10 filed years say what it did: revenue went from $23 million in fiscal 2016 to $114 million in fiscal 2025, up 19.7% a year; it rose in 5 of 9 years; the deepest fall was 67% from fiscal 2021 to fiscal 2022; net income was positive in 0 of 10 of those years (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How has it treated the people who own it?
SI estimate 4.0/10, confidence 35 of 100 (one part).
SI estimate Inferred, not read as filed
From the record
SI estimate, not a filed reading: Agenus Inc.'s shareholder treatment is put at 4.0 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 40% of 146 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.
What are they doing right now?
Is it financially healthy right now?
Leverage 220%: owes 220¢ per asset dollar.
From the record
Return on equity: in the fiscal year ended 2025-12-31, Agenus Inc.'s shareholders' equity was below zero, so the profit on it is not read, and gross profitability: its products earned about 50 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 220 cents per dollar of assets, and net share issuance: its share count grew 38.5% over the year (the filed statements).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
How strong is its position in its industry?
top 32% of 102 in its family; net margin -0.1%.
From the record
Agenus Inc.'s standing among 102 graded names in its industry family: revenue of $114 million in fiscal 2025 ranks in the top 27% by size; a net margin of -0.1% ranks in the top 21%; revenue growth of 5.2% a year over the last 3 filed years ranks in the top 46% (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are the people in charge doing?
bottom 49% of 110 in its family for leadership; chief executive since 2020.
From the record
Agenus Inc.'s leadership, from its insiders' filings and its current reports: the chief executive on the record is Armen, Garo H (Chairman, Chief Executive Officer and Principal Financial Officer, as filed), filing under that title since 2020-11-20, 6 years (top 37% of its family); the 9 officers and directors filing in the last fifteen months have been on the record a median of 6.1 years (top 33%); 8 officer or director changes were reported on Form 8-K since 2023-11-13, against the 9 people in charge now (bottom 16%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What are they set up to do next?
How much room does it have to grow?
bottom 49% of 92 in its family for room to expand.
From the record
Agenus Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $3 million against debt of $0 thousand leaves 1.3% of its assets as net cash, bottom 8% of its family; cash from operations less capital spending is -67.6% of revenue (top 34%); a gross margin of 99.1% (top 12%); research spending of 69.5% of revenue (bottom 34%) (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
What could actually drive growth from here?
bottom 24% of 100 in its family for growth drivers.
From the record
Agenus Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 5.2% a year over the last three filed years against 19.7% over all 10, slowing (bottom 38% of its family); the newest year grew 10.4% (bottom 48%); research spending grew -24.8% a year (bottom 8%); capital spending grew -95.2% a year (bottom 1%) (its annual reports). Agenus Inc. reported 6 product lines in fiscal 2025: Non Cash Revenue Related to Sale of Future Royalties at $109 million (94%), Pre Commercial Product Revenue at $4 million (4%), Revenue at $1 million (1%), and 3 more; 1 of 5 grew against the year before (its annual report).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
Did its newest year beat what its own record pointed to?
top 33% of 72 in its family for expectations against reality.
From the record
Agenus Inc.'s newest year against its own record: revenue of $114 million in fiscal 2025 came in 7.4% above the $106 million its prior three years' pace pointed to (top 46% of its family); net income of $101 thousand against a prior three-year average of $231 million (top 16%); a net margin of -0.1% against losses larger than its revenue before (top 37%) (its annual reports).
What it rests on
A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.
The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made