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Side-by-side financial comparison of Broadstone Net Lease, Inc. (BNL) and IOVANCE BIOTHERAPEUTICS, INC. (IOVA). Click either name above to swap in a different company.
Broadstone Net Lease, Inc. is the larger business by last-quarter revenue ($121.4M vs $86.8M, roughly 1.4× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 11.7%). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 7.1%).
Broadstone Net Lease, Inc. is a real estate investment trust (REIT) that acquires, owns, and manages a diversified portfolio of single-tenant commercial real estate assets across the United States. Its portfolio covers key segments including industrial facilities, healthcare properties, retail locations, and office spaces, all leased to tenants under long-term net lease agreements.
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
BNL vs IOVA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $121.4M | $86.8M |
| Net Profit | $46.4M | — |
| Gross Margin | — | 67.4% |
| Operating Margin | 52.2% | -84.7% |
| Net Margin | 38.2% | — |
| Revenue YoY | 11.7% | 17.7% |
| Net Profit YoY | — | — |
| EPS (diluted) | $0.24 | — |
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 | $121.4M | — | ||
| Q4 25 | $118.3M | $86.8M | ||
| Q3 25 | $114.2M | $67.5M | ||
| Q2 25 | $113.0M | $60.0M | ||
| Q1 25 | $108.7M | $49.3M | ||
| Q4 24 | $112.1M | $73.7M | ||
| Q3 24 | $108.4M | $58.6M | ||
| Q2 24 | $105.9M | $31.1M |
| Q1 26 | $46.4M | — | ||
| Q4 25 | $33.1M | — | ||
| Q3 25 | $26.5M | $-91.3M | ||
| Q2 25 | $20.2M | $-111.7M | ||
| Q1 25 | $16.7M | $-116.2M | ||
| Q4 24 | $26.4M | — | ||
| Q3 24 | $35.6M | $-83.5M | ||
| Q2 24 | $35.3M | $-97.1M |
| Q1 26 | — | — | ||
| 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 26 | 52.2% | — | ||
| Q4 25 | — | -84.7% | ||
| Q3 25 | — | -140.7% | ||
| Q2 25 | — | -189.8% | ||
| Q1 25 | — | -245.8% | ||
| Q4 24 | — | -117.5% | ||
| Q3 24 | — | -152.1% | ||
| Q2 24 | — | -327.6% |
| Q1 26 | 38.2% | — | ||
| Q4 25 | 28.0% | — | ||
| Q3 25 | 23.2% | -135.3% | ||
| Q2 25 | 17.8% | -186.2% | ||
| Q1 25 | 15.4% | -235.5% | ||
| Q4 24 | 23.5% | — | ||
| Q3 24 | 32.8% | -142.7% | ||
| Q2 24 | 33.4% | -312.2% |
| Q1 26 | $0.24 | — | ||
| Q4 25 | $0.17 | — | ||
| Q3 25 | $0.14 | — | ||
| Q2 25 | $0.10 | $-0.33 | ||
| Q1 25 | $0.09 | $-0.36 | ||
| Q4 24 | $0.13 | $-0.24 | ||
| Q3 24 | $0.19 | $-0.28 | ||
| Q2 24 | $0.19 | $-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 | $20.3M | $297.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $698.6M |
| Total Assets | $5.8B | $913.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $20.3M | — | ||
| Q4 25 | $30.5M | $297.0M | ||
| Q3 25 | $82.0M | $300.8M | ||
| Q2 25 | $20.8M | $301.2M | ||
| Q1 25 | $9.6M | $359.7M | ||
| Q4 24 | $14.8M | $323.8M | ||
| Q3 24 | $9.0M | $397.5M | ||
| Q2 24 | $18.3M | $412.5M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $1.9B | — | ||
| Q3 24 | $2.0B | — | ||
| Q2 24 | $1.9B | — |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.9B | $698.6M | ||
| Q3 25 | $2.9B | $702.3M | ||
| Q2 25 | $2.9B | $698.5M | ||
| Q1 25 | $2.9B | $767.9M | ||
| Q4 24 | $3.0B | $710.4M | ||
| Q3 24 | $3.0B | $773.5M | ||
| Q2 24 | $3.1B | $768.5M |
| Q1 26 | $5.8B | — | ||
| Q4 25 | $5.7B | $913.2M | ||
| Q3 25 | $5.5B | $904.9M | ||
| Q2 25 | $5.3B | $907.4M | ||
| Q1 25 | $5.2B | $966.7M | ||
| Q4 24 | $5.2B | $910.4M | ||
| Q3 24 | $5.3B | $991.1M | ||
| Q2 24 | $5.3B | $964.3M |
| Q1 26 | — | — | ||
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.68× | — | ||
| Q4 24 | 0.64× | — | ||
| Q3 24 | 0.65× | — | ||
| Q2 24 | 0.62× | — |
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 | — | 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 | $299.5M | $-52.6M | ||
| Q3 25 | $64.2M | $-78.7M | ||
| Q2 25 | $79.3M | $-67.4M | ||
| Q1 25 | $71.5M | $-103.7M | ||
| Q4 24 | $276.3M | $-73.3M | ||
| Q3 24 | $67.3M | $-59.0M | ||
| Q2 24 | $74.2M | $-98.4M |
| Q1 26 | — | — | ||
| Q4 25 | $269.8M | $-61.9M | ||
| Q3 25 | $58.0M | $-89.5M | ||
| Q2 25 | $76.7M | $-74.9M | ||
| Q1 25 | $57.1M | $-109.9M | ||
| Q4 24 | $259.5M | $-77.5M | ||
| Q3 24 | $60.3M | $-61.3M | ||
| Q2 24 | $74.0M | $-98.9M |
| Q1 26 | — | — | ||
| Q4 25 | 228.1% | -71.3% | ||
| Q3 25 | 50.8% | -132.7% | ||
| Q2 25 | 67.9% | -124.9% | ||
| Q1 25 | 52.5% | -222.8% | ||
| Q4 24 | 231.4% | -105.1% | ||
| Q3 24 | 55.6% | -104.6% | ||
| Q2 24 | 69.9% | -317.9% |
| Q1 26 | — | — | ||
| Q4 25 | 25.1% | 10.7% | ||
| Q3 25 | 5.4% | 16.1% | ||
| Q2 25 | 2.3% | 12.4% | ||
| Q1 25 | 13.2% | 12.6% | ||
| Q4 24 | 15.0% | 5.7% | ||
| Q3 24 | 6.5% | 3.9% | ||
| Q2 24 | 0.2% | 1.4% |
| Q1 26 | — | — | ||
| Q4 25 | 9.04× | — | ||
| Q3 25 | 2.43× | — | ||
| Q2 25 | 3.93× | — | ||
| Q1 25 | 4.27× | — | ||
| Q4 24 | 10.47× | — | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 2.10× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BNL
Segment breakdown not available.
IOVA
| Amtagvi | $64.9M | 75% |
| Proleukin | $21.9M | 25% |
