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Side-by-side financial comparison of BLACKBERRY Ltd (BB) and IOVANCE BIOTHERAPEUTICS, INC. (IOVA). Click either name above to swap in a different company.
BLACKBERRY Ltd is the larger business by last-quarter revenue ($141.8M vs $86.8M, roughly 1.6× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs -0.8%). BLACKBERRY Ltd produced more free cash flow last quarter ($17.4M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 17.8%).
BlackBerry Limited, formerly Research In Motion (RIM), is a Canadian software company specializing in secure communications and the Internet of Things (IoT). Founded in 1984, it developed the BlackBerry brand of two-way pagers, smartphones, and tablets. The company later transitioned to providing software and services and holds critical software application patents.
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
BB vs IOVA — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $86.8M |
| Net Profit | $13.7M | — |
| Gross Margin | 77.5% | 67.4% |
| Operating Margin | 8.4% | -84.7% |
| Net Margin | 9.7% | — |
| Revenue YoY | -0.8% | 17.7% |
| Net Profit YoY | 224.5% | — |
| EPS (diluted) | $0.02 | — |
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 | $141.8M | $86.8M | ||
| Q3 25 | $129.6M | $67.5M | ||
| Q2 25 | $121.7M | $60.0M | ||
| Q1 25 | $141.7M | $49.3M | ||
| Q4 24 | $143.6M | $73.7M | ||
| Q3 24 | $126.2M | $58.6M | ||
| Q2 24 | $123.4M | $31.1M | ||
| Q1 24 | $102.1M | $715.0K |
| Q4 25 | $13.7M | — | ||
| Q3 25 | $13.3M | $-91.3M | ||
| Q2 25 | $1.9M | $-111.7M | ||
| Q1 25 | $-7.4M | $-116.2M | ||
| Q4 24 | $-10.5M | — | ||
| Q3 24 | $-19.7M | $-83.5M | ||
| Q2 24 | $-41.4M | $-97.1M | ||
| Q1 24 | $-56.2M | $-113.0M |
| Q4 25 | 77.5% | 67.4% | ||
| Q3 25 | 74.5% | 43.0% | ||
| Q2 25 | 74.2% | 5.5% | ||
| Q1 25 | 73.5% | -0.8% | ||
| Q4 24 | 78.1% | 68.7% | ||
| Q3 24 | 70.2% | 46.2% | ||
| Q2 24 | 72.9% | -0.8% | ||
| Q1 24 | — | — |
| Q4 25 | 8.4% | -84.7% | ||
| Q3 25 | 8.9% | -140.7% | ||
| Q2 25 | 1.6% | -189.8% | ||
| Q1 25 | -5.6% | -245.8% | ||
| Q4 24 | 13.6% | -117.5% | ||
| Q3 24 | 1.7% | -152.1% | ||
| Q2 24 | -10.5% | -327.6% | ||
| Q1 24 | 50.0% | -16464.6% |
| Q4 25 | 9.7% | — | ||
| Q3 25 | 10.3% | -135.3% | ||
| Q2 25 | 1.6% | -186.2% | ||
| Q1 25 | -5.2% | -235.5% | ||
| Q4 24 | -7.3% | — | ||
| Q3 24 | -15.6% | -142.7% | ||
| Q2 24 | -33.5% | -312.2% | ||
| Q1 24 | -55.0% | -15800.8% |
| Q4 25 | $0.02 | — | ||
| Q3 25 | $0.02 | — | ||
| Q2 25 | $0.00 | $-0.33 | ||
| Q1 25 | $-0.01 | $-0.36 | ||
| Q4 24 | $-0.02 | $-0.24 | ||
| Q3 24 | $-0.03 | $-0.28 | ||
| Q2 24 | $-0.07 | $-0.34 | ||
| Q1 24 | $-0.08 | $-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 | $304.2M | $297.0M |
| Total DebtLower is stronger | $196.2M | — |
| Stockholders' EquityBook value | $741.1M | $698.6M |
| Total Assets | $1.2B | $913.2M |
| Debt / EquityLower = less leverage | 0.26× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $304.2M | $297.0M | ||
| Q3 25 | $290.5M | $300.8M | ||
| Q2 25 | $306.6M | $301.2M | ||
| Q1 25 | $337.8M | $359.7M | ||
| Q4 24 | $220.0M | $323.8M | ||
| Q3 24 | $211.0M | $397.5M | ||
| Q2 24 | $229.0M | $412.5M | ||
| Q1 24 | $237.1M | $356.2M |
| Q4 25 | $196.2M | — | ||
| Q3 25 | $195.9M | — | ||
| Q2 25 | $195.6M | — | ||
| Q1 25 | $195.3M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $194.1M | — |
| Q4 25 | $741.1M | $698.6M | ||
| Q3 25 | $725.1M | $702.3M | ||
| Q2 25 | $725.1M | $698.5M | ||
| Q1 25 | $719.9M | $767.9M | ||
| Q4 24 | $725.2M | $710.4M | ||
| Q3 24 | $732.1M | $773.5M | ||
| Q2 24 | $742.6M | $768.5M | ||
| Q1 24 | $775.1M | $680.0M |
| Q4 25 | $1.2B | $913.2M | ||
| Q3 25 | $1.2B | $904.9M | ||
| Q2 25 | $1.2B | $907.4M | ||
| Q1 25 | $1.3B | $966.7M | ||
| Q4 24 | $1.3B | $910.4M | ||
| Q3 24 | $1.3B | $991.1M | ||
| Q2 24 | $1.3B | $964.3M | ||
| Q1 24 | $1.4B | $869.8M |
| Q4 25 | 0.26× | — | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | 0.27× | — | ||
| Q1 25 | 0.27× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.25× | — |
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 | $18.3M | $-52.6M |
| Free Cash FlowOCF − Capex | $17.4M | $-61.9M |
| FCF MarginFCF / Revenue | 12.3% | -71.3% |
| Capex IntensityCapex / Revenue | 0.6% | 10.7% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.8M | $-336.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $18.3M | $-52.6M | ||
| Q3 25 | $3.9M | $-78.7M | ||
| Q2 25 | $-18.0M | $-67.4M | ||
| Q1 25 | $41.6M | $-103.7M | ||
| Q4 24 | $6.0M | $-73.3M | ||
| Q3 24 | $-16.0M | $-59.0M | ||
| Q2 24 | $-15.1M | $-98.4M | ||
| Q1 24 | $-15.5M | $-122.3M |
| Q4 25 | $17.4M | $-61.9M | ||
| Q3 25 | $3.1M | $-89.5M | ||
| Q2 25 | $-18.9M | $-74.9M | ||
| Q1 25 | $41.2M | $-109.9M | ||
| Q4 24 | $5.2M | $-77.5M | ||
| Q3 24 | $-16.5M | $-61.3M | ||
| Q2 24 | $-16.5M | $-98.9M | ||
| Q1 24 | $-17.6M | $-126.5M |
| Q4 25 | 12.3% | -71.3% | ||
| Q3 25 | 2.4% | -132.7% | ||
| Q2 25 | -15.5% | -124.9% | ||
| Q1 25 | 29.1% | -222.8% | ||
| Q4 24 | 3.6% | -105.1% | ||
| Q3 24 | -13.1% | -104.6% | ||
| Q2 24 | -13.4% | -317.9% | ||
| Q1 24 | -17.2% | -17685.3% |
| Q4 25 | 0.6% | 10.7% | ||
| Q3 25 | 0.6% | 16.1% | ||
| Q2 25 | 0.7% | 12.4% | ||
| Q1 25 | 0.3% | 12.6% | ||
| Q4 24 | 0.6% | 5.7% | ||
| Q3 24 | 0.4% | 3.9% | ||
| Q2 24 | 1.1% | 1.4% | ||
| Q1 24 | 2.1% | 583.4% |
| Q4 25 | 1.34× | — | ||
| Q3 25 | 0.29× | — | ||
| Q2 25 | -9.47× | — | ||
| Q1 25 | — | — | ||
| 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
BB
| QNX | $68.7M | 48% |
| Secure Communication | $67.0M | 47% |
| Licensing | $6.1M | 4% |
IOVA
| Amtagvi | $64.9M | 75% |
| Proleukin | $21.9M | 25% |
