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Side-by-side financial comparison of Atlanta Braves Holdings, Inc. (BATRA) 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 $61.3M, roughly 1.4× Atlanta Braves Holdings, Inc.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 17.6%). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs -52.5%).
Atlanta Braves Holdings, Inc. is a sports and entertainment holding company that owns and operates the Atlanta Braves MLB franchise. It also manages adjacent mixed-use real estate, live events, merchandise sales, and media operations, serving fans across the U.S. Southeast and global baseball audiences.
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
BATRA vs IOVA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.3M | $86.8M |
| Net Profit | $-41.4M | — |
| Gross Margin | — | 67.4% |
| Operating Margin | -81.2% | -84.7% |
| Net Margin | -67.6% | — |
| Revenue YoY | 17.6% | 17.7% |
| Net Profit YoY | -116.7% | — |
| EPS (diluted) | $-0.64 | — |
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 | $61.3M | $86.8M | ||
| Q3 25 | $311.5M | $67.5M | ||
| Q2 25 | $312.4M | $60.0M | ||
| Q1 25 | $47.2M | $49.3M | ||
| Q4 24 | $52.1M | $73.7M | ||
| Q3 24 | $290.7M | $58.6M | ||
| Q2 24 | $282.9M | $31.1M | ||
| Q1 24 | — | $715.0K |
| Q4 25 | $-41.4M | — | ||
| Q3 25 | $30.0M | $-91.3M | ||
| Q2 25 | $29.5M | $-111.7M | ||
| Q1 25 | $-41.4M | $-116.2M | ||
| Q4 24 | $-19.1M | — | ||
| Q3 24 | $10.0M | $-83.5M | ||
| Q2 24 | $29.1M | $-97.1M | ||
| Q1 24 | — | $-113.0M |
| Q4 25 | — | 67.4% | ||
| Q3 25 | — | 43.0% | ||
| Q2 25 | — | 5.5% | ||
| Q1 25 | — | -0.8% | ||
| Q4 24 | — | 68.7% | ||
| Q3 24 | — | 46.2% | ||
| Q2 24 | — | -0.8% | ||
| Q1 24 | — | — |
| Q4 25 | -81.2% | -84.7% | ||
| Q3 25 | 12.5% | -140.7% | ||
| Q2 25 | 13.4% | -189.8% | ||
| Q1 25 | -94.2% | -245.8% | ||
| Q4 24 | -35.8% | -117.5% | ||
| Q3 24 | 2.2% | -152.1% | ||
| Q2 24 | 8.8% | -327.6% | ||
| Q1 24 | — | -16464.6% |
| Q4 25 | -67.6% | — | ||
| Q3 25 | 9.6% | -135.3% | ||
| Q2 25 | 9.4% | -186.2% | ||
| Q1 25 | -87.7% | -235.5% | ||
| Q4 24 | -36.7% | — | ||
| Q3 24 | 3.4% | -142.7% | ||
| Q2 24 | 10.3% | -312.2% | ||
| Q1 24 | — | -15800.8% |
| Q4 25 | $-0.64 | — | ||
| Q3 25 | $0.47 | — | ||
| Q2 25 | $0.46 | $-0.33 | ||
| Q1 25 | $-0.66 | $-0.36 | ||
| Q4 24 | $-0.29 | $-0.24 | ||
| Q3 24 | $0.16 | $-0.28 | ||
| Q2 24 | $0.46 | $-0.34 | ||
| Q1 24 | — | $-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 | $99.9M | $297.0M |
| Total DebtLower is stronger | $738.6M | — |
| Stockholders' EquityBook value | $526.0M | $698.6M |
| Total Assets | $1.6B | $913.2M |
| Debt / EquityLower = less leverage | 1.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $99.9M | $297.0M | ||
| Q3 25 | $82.2M | $300.8M | ||
| Q2 25 | $96.2M | $301.2M | ||
| Q1 25 | $244.7M | $359.7M | ||
| Q4 24 | $110.1M | $323.8M | ||
| Q3 24 | $100.9M | $397.5M | ||
| Q2 24 | $121.2M | $412.5M | ||
| Q1 24 | — | $356.2M |
| Q4 25 | $738.6M | — | ||
| Q3 25 | $759.9M | — | ||
| Q2 25 | $703.1M | — | ||
| Q1 25 | $699.5M | — | ||
| Q4 24 | $617.1M | — | ||
| Q3 24 | $640.1M | — | ||
| Q2 24 | $600.0M | — | ||
| Q1 24 | — | — |
| Q4 25 | $526.0M | $698.6M | ||
| Q3 25 | $560.3M | $702.3M | ||
| Q2 25 | $522.8M | $698.5M | ||
| Q1 25 | $486.1M | $767.9M | ||
| Q4 24 | $524.2M | $710.4M | ||
| Q3 24 | $530.4M | $773.5M | ||
| Q2 24 | $512.7M | $768.5M | ||
| Q1 24 | — | $680.0M |
| Q4 25 | $1.6B | $913.2M | ||
| Q3 25 | $1.7B | $904.9M | ||
| Q2 25 | $1.7B | $907.4M | ||
| Q1 25 | $1.7B | $966.7M | ||
| Q4 24 | $1.5B | $910.4M | ||
| Q3 24 | $1.6B | $991.1M | ||
| Q2 24 | $1.6B | $964.3M | ||
| Q1 24 | — | $869.8M |
| Q4 25 | 1.40× | — | ||
| Q3 25 | 1.36× | — | ||
| Q2 25 | 1.34× | — | ||
| Q1 25 | 1.44× | — | ||
| Q4 24 | 1.18× | — | ||
| Q3 24 | 1.21× | — | ||
| Q2 24 | 1.17× | — | ||
| 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 | $26.4M | $-52.6M |
| Free Cash FlowOCF − Capex | — | $-61.9M |
| FCF MarginFCF / Revenue | — | -71.3% |
| Capex IntensityCapex / Revenue | 0.0% | 10.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-336.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $26.4M | $-52.6M | ||
| Q3 25 | $-88.8M | $-78.7M | ||
| Q2 25 | $-8.1M | $-67.4M | ||
| Q1 25 | $95.8M | $-103.7M | ||
| Q4 24 | $28.9M | $-73.3M | ||
| Q3 24 | $-69.0M | $-59.0M | ||
| Q2 24 | $-34.3M | $-98.4M | ||
| Q1 24 | — | $-122.3M |
| Q4 25 | — | $-61.9M | ||
| Q3 25 | — | $-89.5M | ||
| Q2 25 | $-82.3M | $-74.9M | ||
| Q1 25 | $76.3M | $-109.9M | ||
| Q4 24 | $16.8M | $-77.5M | ||
| Q3 24 | $-85.5M | $-61.3M | ||
| Q2 24 | $-64.1M | $-98.9M | ||
| Q1 24 | — | $-126.5M |
| Q4 25 | — | -71.3% | ||
| Q3 25 | — | -132.7% | ||
| Q2 25 | -26.3% | -124.9% | ||
| Q1 25 | 161.5% | -222.8% | ||
| Q4 24 | 32.3% | -105.1% | ||
| Q3 24 | -29.4% | -104.6% | ||
| Q2 24 | -22.7% | -317.9% | ||
| Q1 24 | — | -17685.3% |
| Q4 25 | 0.0% | 10.7% | ||
| Q3 25 | 0.0% | 16.1% | ||
| Q2 25 | 23.7% | 12.4% | ||
| Q1 25 | 41.3% | 12.6% | ||
| Q4 24 | 23.2% | 5.7% | ||
| Q3 24 | 5.7% | 3.9% | ||
| Q2 24 | 10.5% | 1.4% | ||
| Q1 24 | — | 583.4% |
| Q4 25 | — | — | ||
| Q3 25 | -2.96× | — | ||
| Q2 25 | -0.28× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -6.89× | — | ||
| Q2 24 | -1.18× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BATRA
| Baseball | $34.8M | 57% |
| Mixed Use Development Segment | $26.5M | 43% |
IOVA
| Amtagvi | $64.9M | 75% |
| Proleukin | $21.9M | 25% |
