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Side-by-side financial comparison of American Assets Trust, Inc. (AAT) and IOVANCE BIOTHERAPEUTICS, INC. (IOVA). Click either name above to swap in a different company.
American Assets Trust, Inc. is the larger business by last-quarter revenue ($110.6M vs $86.8M, roughly 1.3× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 1.8%). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs -0.1%).
Personal Assets Trust is a large British investment trust. The company is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The chairman is Iain Ferguson CBE.
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
AAT vs IOVA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $110.6M | $86.8M |
| Net Profit | $6.7M | — |
| Gross Margin | — | 67.4% |
| Operating Margin | 23.4% | -84.7% |
| Net Margin | 6.1% | — |
| Revenue YoY | 1.8% | 17.7% |
| Net Profit YoY | -16.3% | — |
| EPS (diluted) | $0.08 | — |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $110.6M | — | ||
| Q4 25 | $110.1M | $86.8M | ||
| Q3 25 | $109.6M | $67.5M | ||
| Q2 25 | $107.9M | $60.0M | ||
| Q1 25 | $108.6M | $49.3M | ||
| Q4 24 | $113.5M | $73.7M | ||
| Q3 24 | $122.8M | $58.6M | ||
| Q2 24 | $110.9M | $31.1M |
| Q1 26 | $6.7M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $4.5M | $-91.3M | ||
| Q2 25 | $5.5M | $-111.7M | ||
| Q1 25 | $42.5M | $-116.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | $16.7M | $-83.5M | ||
| Q2 24 | $11.9M | $-97.1M |
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | 67.4% | ||
| Q3 25 | 60.5% | 43.0% | ||
| Q2 25 | 62.6% | 5.5% | ||
| Q1 25 | 62.0% | -0.8% | ||
| Q4 24 | 61.3% | 68.7% | ||
| Q3 24 | 65.5% | 46.2% | ||
| Q2 24 | 63.6% | -0.8% |
| Q1 26 | 23.4% | — | ||
| Q4 25 | 21.1% | -84.7% | ||
| Q3 25 | 22.6% | -140.7% | ||
| Q2 25 | 24.1% | -189.8% | ||
| Q1 25 | 66.3% | -245.8% | ||
| Q4 24 | 26.5% | -117.5% | ||
| Q3 24 | 30.8% | -152.1% | ||
| Q2 24 | 27.8% | -327.6% |
| Q1 26 | 6.1% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 4.1% | -135.3% | ||
| Q2 25 | 5.1% | -186.2% | ||
| Q1 25 | 39.2% | -235.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | 13.6% | -142.7% | ||
| Q2 24 | 10.7% | -312.2% |
| Q1 26 | $0.08 | — | ||
| Q4 25 | $0.06 | — | ||
| Q3 25 | $0.07 | — | ||
| Q2 25 | $0.09 | $-0.33 | ||
| Q1 25 | $0.70 | $-0.36 | ||
| Q4 24 | $0.14 | $-0.24 | ||
| Q3 24 | $0.28 | $-0.28 | ||
| Q2 24 | $0.20 | $-0.34 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $118.3M | $297.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.1B | $698.6M |
| Total Assets | $2.9B | $913.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $118.3M | — | ||
| Q4 25 | $129.4M | $297.0M | ||
| Q3 25 | $138.7M | $300.8M | ||
| Q2 25 | $143.7M | $301.2M | ||
| Q1 25 | $143.9M | $359.7M | ||
| Q4 24 | $425.7M | $323.8M | ||
| Q3 24 | $533.0M | $397.5M | ||
| Q2 24 | $114.9M | $412.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $2.0B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $1.1B | — | ||
| Q4 25 | $1.2B | $698.6M | ||
| Q3 25 | $1.2B | $702.3M | ||
| Q2 25 | $1.2B | $698.5M | ||
| Q1 25 | $1.2B | $767.9M | ||
| Q4 24 | $1.2B | $710.4M | ||
| Q3 24 | $1.2B | $773.5M | ||
| Q2 24 | $1.2B | $768.5M |
| Q1 26 | $2.9B | — | ||
| Q4 25 | $2.9B | $913.2M | ||
| Q3 25 | $2.9B | $904.9M | ||
| Q2 25 | $3.0B | $907.4M | ||
| Q1 25 | $3.0B | $966.7M | ||
| Q4 24 | $3.3B | $910.4M | ||
| Q3 24 | $3.4B | $991.1M | ||
| Q2 24 | $3.0B | $964.3M |
| Q1 26 | — | — | ||
| Q4 25 | 1.48× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.72× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | — | $-52.6M |
| Free Cash FlowOCF − Capex | — | $-61.9M |
| FCF MarginFCF / Revenue | — | -71.3% |
| Capex IntensityCapex / Revenue | 14.5% | 10.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-336.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $167.1M | $-52.6M | ||
| Q3 25 | $40.5M | $-78.7M | ||
| Q2 25 | $49.2M | $-67.4M | ||
| Q1 25 | $36.9M | $-103.7M | ||
| Q4 24 | $207.1M | $-73.3M | ||
| Q3 24 | $52.4M | $-59.0M | ||
| Q2 24 | $59.3M | $-98.4M |
| Q1 26 | — | — | ||
| Q4 25 | $94.9M | $-61.9M | ||
| Q3 25 | $23.1M | $-89.5M | ||
| Q2 25 | $28.4M | $-74.9M | ||
| Q1 25 | $20.4M | $-109.9M | ||
| Q4 24 | $136.9M | $-77.5M | ||
| Q3 24 | $28.0M | $-61.3M | ||
| Q2 24 | $43.6M | $-98.9M |
| Q1 26 | — | — | ||
| Q4 25 | 86.2% | -71.3% | ||
| Q3 25 | 21.1% | -132.7% | ||
| Q2 25 | 26.3% | -124.9% | ||
| Q1 25 | 18.8% | -222.8% | ||
| Q4 24 | 120.7% | -105.1% | ||
| Q3 24 | 22.8% | -104.6% | ||
| Q2 24 | 39.3% | -317.9% |
| Q1 26 | 14.5% | — | ||
| Q4 25 | 65.6% | 10.7% | ||
| Q3 25 | 15.9% | 16.1% | ||
| Q2 25 | 19.3% | 12.4% | ||
| Q1 25 | 15.1% | 12.6% | ||
| Q4 24 | 61.9% | 5.7% | ||
| Q3 24 | 19.9% | 3.9% | ||
| Q2 24 | 14.1% | 1.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 8.98× | — | ||
| Q2 25 | 9.01× | — | ||
| Q1 25 | 0.87× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 3.15× | — | ||
| Q2 24 | 4.98× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AAT
| Rental income | $104.4M | 94% |
| Other | $6.2M | 6% |
IOVA
| Amtagvi | $64.9M | 75% |
| Proleukin | $21.9M | 25% |
