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Side-by-side financial comparison of ACACIA RESEARCH CORP (ACTG) and IOVANCE BIOTHERAPEUTICS, INC. (IOVA). Click either name above to swap in a different company.
IOVANCE BIOTHERAPEUTICS, INC. is the larger business by last-quarter revenue ($86.8M vs $50.1M, roughly 1.7× ACACIA RESEARCH CORP). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 2.6%). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 43.6%).
Acacia Research Corporation is a publicly traded American company based in New York City. It acquires and operates businesses in industries including the technology, energy, and industrial/manufacturing sectors. Acacia has a strategic relationship with Starboard Value, LP, the company's controlling shareholder. The company has been characterized as a patent troll.
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
ACTG vs IOVA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $50.1M | $86.8M |
| Net Profit | $3.4M | — |
| Gross Margin | 12.8% | 67.4% |
| Operating Margin | -26.1% | -84.7% |
| Net Margin | 6.8% | — |
| Revenue YoY | 2.6% | 17.7% |
| Net Profit YoY | 125.5% | — |
| EPS (diluted) | $0.03 | — |
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.
| Q4 25 | $50.1M | $86.8M | ||
| Q3 25 | $59.4M | $67.5M | ||
| Q2 25 | $51.2M | $60.0M | ||
| Q1 25 | $124.4M | $49.3M | ||
| Q4 24 | $48.8M | $73.7M | ||
| Q3 24 | $23.3M | $58.6M | ||
| Q2 24 | $25.8M | $31.1M | ||
| Q1 24 | $24.3M | $715.0K |
| Q4 25 | $3.4M | — | ||
| Q3 25 | $-2.7M | $-91.3M | ||
| Q2 25 | $-3.3M | $-111.7M | ||
| Q1 25 | $24.3M | $-116.2M | ||
| Q4 24 | $-13.4M | — | ||
| Q3 24 | $-14.0M | $-83.5M | ||
| Q2 24 | $-8.4M | $-97.1M | ||
| Q1 24 | $-186.0K | $-113.0M |
| Q4 25 | 12.8% | 67.4% | ||
| Q3 25 | 21.2% | 43.0% | ||
| Q2 25 | 12.8% | 5.5% | ||
| Q1 25 | 47.4% | -0.8% | ||
| Q4 24 | 17.6% | 68.7% | ||
| Q3 24 | 10.1% | 46.2% | ||
| Q2 24 | 26.2% | -0.8% | ||
| Q1 24 | 49.2% | — |
| Q4 25 | -26.1% | -84.7% | ||
| Q3 25 | -10.8% | -140.7% | ||
| Q2 25 | -24.2% | -189.8% | ||
| Q1 25 | 30.8% | -245.8% | ||
| Q4 24 | -32.4% | -117.5% | ||
| Q3 24 | -44.1% | -152.1% | ||
| Q2 24 | -18.4% | -327.6% | ||
| Q1 24 | -8.6% | -16464.6% |
| Q4 25 | 6.8% | — | ||
| Q3 25 | -4.6% | -135.3% | ||
| Q2 25 | -6.4% | -186.2% | ||
| Q1 25 | 19.5% | -235.5% | ||
| Q4 24 | -27.5% | — | ||
| Q3 24 | -60.0% | -142.7% | ||
| Q2 24 | -32.7% | -312.2% | ||
| Q1 24 | -0.8% | -15800.8% |
| Q4 25 | $0.03 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $-0.03 | $-0.33 | ||
| Q1 25 | $0.25 | $-0.36 | ||
| Q4 24 | $-0.14 | $-0.24 | ||
| Q3 24 | $-0.14 | $-0.28 | ||
| Q2 24 | $-0.08 | $-0.34 | ||
| Q1 24 | $0.00 | $-0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $306.7M | $297.0M |
| Total DebtLower is stronger | $91.9M | — |
| Stockholders' EquityBook value | $543.5M | $698.6M |
| Total Assets | $771.0M | $913.2M |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $306.7M | $297.0M | ||
| Q3 25 | $301.8M | $300.8M | ||
| Q2 25 | $316.7M | $301.2M | ||
| Q1 25 | $272.0M | $359.7M | ||
| Q4 24 | $273.9M | $323.8M | ||
| Q3 24 | $410.9M | $397.5M | ||
| Q2 24 | $441.9M | $412.5M | ||
| Q1 24 | $498.4M | $356.2M |
| Q4 25 | $91.9M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $543.5M | $698.6M | ||
| Q3 25 | $537.6M | $702.3M | ||
| Q2 25 | $538.6M | $698.5M | ||
| Q1 25 | $540.2M | $767.9M | ||
| Q4 24 | $514.8M | $710.4M | ||
| Q3 24 | $540.2M | $773.5M | ||
| Q2 24 | $560.7M | $768.5M | ||
| Q1 24 | $568.3M | $680.0M |
| Q4 25 | $771.0M | $913.2M | ||
| Q3 25 | $768.9M | $904.9M | ||
| Q2 25 | $775.5M | $907.4M | ||
| Q1 25 | $801.6M | $966.7M | ||
| Q4 24 | $756.4M | $910.4M | ||
| Q3 24 | $707.6M | $991.1M | ||
| Q2 24 | $753.6M | $964.3M | ||
| Q1 24 | $631.7M | $869.8M |
| Q4 25 | 0.17× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $75.2M | $-52.6M |
| Free Cash FlowOCF − Capex | — | $-61.9M |
| FCF MarginFCF / Revenue | — | -71.3% |
| Capex IntensityCapex / Revenue | — | 10.7% |
| Cash ConversionOCF / Net Profit | 22.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-336.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.2M | $-52.6M | ||
| Q3 25 | $9.5M | $-78.7M | ||
| Q2 25 | $50.1M | $-67.4M | ||
| Q1 25 | $2.4M | $-103.7M | ||
| Q4 24 | $50.1M | $-73.3M | ||
| Q3 24 | $-593.0K | $-59.0M | ||
| Q2 24 | $16.1M | $-98.4M | ||
| Q1 24 | $54.8M | $-122.3M |
| Q4 25 | — | $-61.9M | ||
| Q3 25 | — | $-89.5M | ||
| Q2 25 | — | $-74.9M | ||
| Q1 25 | $335.0K | $-109.9M | ||
| Q4 24 | $-98.5M | $-77.5M | ||
| Q3 24 | $-2.8M | $-61.3M | ||
| Q2 24 | $-126.7M | $-98.9M | ||
| Q1 24 | $54.6M | $-126.5M |
| Q4 25 | — | -71.3% | ||
| Q3 25 | — | -132.7% | ||
| Q2 25 | — | -124.9% | ||
| Q1 25 | 0.3% | -222.8% | ||
| Q4 24 | -201.8% | -105.1% | ||
| Q3 24 | -12.1% | -104.6% | ||
| Q2 24 | -490.5% | -317.9% | ||
| Q1 24 | 224.4% | -17685.3% |
| Q4 25 | — | 10.7% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 12.4% | ||
| Q1 25 | 1.7% | 12.6% | ||
| Q4 24 | 304.4% | 5.7% | ||
| Q3 24 | 9.6% | 3.9% | ||
| Q2 24 | 553.0% | 1.4% | ||
| Q1 24 | 1.1% | 583.4% |
| Q4 25 | 22.01× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.10× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACTG
| Energy Operations | $16.0M | 32% |
| Transportation Safety | $10.4M | 21% |
| Office Storage And Display Solutions | $8.4M | 17% |
| Printers Consumables And Parts | $6.5M | 13% |
| Natural Gas Reserves | $5.1M | 10% |
| Natural Gas Liquids Reserves | $3.3M | 7% |
IOVA
| Amtagvi | $64.9M | 75% |
| Proleukin | $21.9M | 25% |
