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Side-by-side financial comparison of Bitcoin Depot Inc. (BTM) and IOVANCE BIOTHERAPEUTICS, INC. (IOVA). Click either name above to swap in a different company.
Bitcoin Depot Inc. is the larger business by last-quarter revenue ($162.5M vs $86.8M, roughly 1.9× IOVANCE BIOTHERAPEUTICS, INC.). On growth, Bitcoin Depot Inc. posted the faster year-over-year revenue change (20.1% vs 17.7%). Bitcoin Depot Inc. produced more free cash flow last quarter ($2.5M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs -4.9%).
Bitcoin Depot Inc. is one of the largest cryptocurrency ATM operators across North America. It provides retail consumers with accessible in-person kiosks to buy and sell Bitcoin and other leading digital assets, alongside online crypto purchase services via bank transfer. Its self-service kiosks are located in high-traffic retail spaces including grocery stores, gas stations and convenience stores.
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
BTM vs IOVA — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $162.5M | $86.8M |
| Net Profit | $5.5M | — |
| Gross Margin | — | 67.4% |
| Operating Margin | 7.3% | -84.7% |
| Net Margin | 3.4% | — |
| Revenue YoY | 20.1% | 17.7% |
| Net Profit YoY | 690.4% | — |
| 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.
| Q4 25 | — | $86.8M | ||
| Q3 25 | $162.5M | $67.5M | ||
| Q2 25 | $172.1M | $60.0M | ||
| Q1 25 | $164.2M | $49.3M | ||
| Q4 24 | — | $73.7M | ||
| Q3 24 | $135.3M | $58.6M | ||
| Q2 24 | $163.1M | $31.1M | ||
| Q1 24 | $138.5M | $715.0K |
| Q4 25 | — | — | ||
| Q3 25 | $5.5M | $-91.3M | ||
| Q2 25 | $6.1M | $-111.7M | ||
| Q1 25 | $4.2M | $-116.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-939.0K | $-83.5M | ||
| Q2 24 | $-2.6M | $-97.1M | ||
| Q1 24 | $-1.5M | $-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 | — | -84.7% | ||
| Q3 25 | 7.3% | -140.7% | ||
| Q2 25 | 9.2% | -189.8% | ||
| Q1 25 | 10.8% | -245.8% | ||
| Q4 24 | — | -117.5% | ||
| Q3 24 | 4.1% | -152.1% | ||
| Q2 24 | 4.7% | -327.6% | ||
| Q1 24 | 0.5% | -16464.6% |
| Q4 25 | — | — | ||
| Q3 25 | 3.4% | -135.3% | ||
| Q2 25 | 3.5% | -186.2% | ||
| Q1 25 | 2.6% | -235.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.7% | -142.7% | ||
| Q2 24 | -1.6% | -312.2% | ||
| Q1 24 | -1.1% | -15800.8% |
| Q4 25 | — | — | ||
| Q3 25 | $0.08 | — | ||
| Q2 25 | $0.16 | $-0.33 | ||
| Q1 25 | $0.20 | $-0.36 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | $-0.05 | $-0.28 | ||
| Q2 24 | $-0.13 | $-0.34 | ||
| Q1 24 | $-0.25 | $-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 | $59.3M | $297.0M |
| Total DebtLower is stronger | $67.5M | — |
| Stockholders' EquityBook value | $21.0M | $698.6M |
| Total Assets | $125.3M | $913.2M |
| Debt / EquityLower = less leverage | 3.21× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $297.0M | ||
| Q3 25 | $59.3M | $300.8M | ||
| Q2 25 | $48.0M | $301.2M | ||
| Q1 25 | $35.0M | $359.7M | ||
| Q4 24 | — | $323.8M | ||
| Q3 24 | $32.2M | $397.5M | ||
| Q2 24 | $43.9M | $412.5M | ||
| Q1 24 | $42.2M | $356.2M |
| Q4 25 | — | — | ||
| Q3 25 | $67.5M | — | ||
| Q2 25 | $66.5M | — | ||
| Q1 25 | $56.2M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $44.5M | — | ||
| Q2 24 | $41.2M | — | ||
| Q1 24 | $37.6M | — |
| Q4 25 | — | $698.6M | ||
| Q3 25 | $21.0M | $702.3M | ||
| Q2 25 | $4.7M | $698.5M | ||
| Q1 25 | $-4.6M | $767.9M | ||
| Q4 24 | — | $710.4M | ||
| Q3 24 | $-7.9M | $773.5M | ||
| Q2 24 | $4.4M | $768.5M | ||
| Q1 24 | $5.0M | $680.0M |
| Q4 25 | — | $913.2M | ||
| Q3 25 | $125.3M | $904.9M | ||
| Q2 25 | $109.1M | $907.4M | ||
| Q1 25 | $89.7M | $966.7M | ||
| Q4 24 | — | $910.4M | ||
| Q3 24 | $87.4M | $991.1M | ||
| Q2 24 | $97.5M | $964.3M | ||
| Q1 24 | $90.1M | $869.8M |
| Q4 25 | — | — | ||
| Q3 25 | 3.21× | — | ||
| Q2 25 | 14.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 9.27× | — | ||
| Q1 24 | 7.54× | — |
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 | $6.6M | $-52.6M |
| Free Cash FlowOCF − Capex | $2.5M | $-61.9M |
| FCF MarginFCF / Revenue | 1.6% | -71.3% |
| Capex IntensityCapex / Revenue | 2.5% | 10.7% |
| Cash ConversionOCF / Net Profit | 1.20× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.1M | $-336.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-52.6M | ||
| Q3 25 | $6.6M | $-78.7M | ||
| Q2 25 | $10.2M | $-67.4M | ||
| Q1 25 | $16.3M | $-103.7M | ||
| Q4 24 | — | $-73.3M | ||
| Q3 24 | $5.8M | $-59.0M | ||
| Q2 24 | $10.1M | $-98.4M | ||
| Q1 24 | $1.3M | $-122.3M |
| Q4 25 | — | $-61.9M | ||
| Q3 25 | $2.5M | $-89.5M | ||
| Q2 25 | $9.8M | $-74.9M | ||
| Q1 25 | $15.9M | $-109.9M | ||
| Q4 24 | — | $-77.5M | ||
| Q3 24 | $-1.0M | $-61.3M | ||
| Q2 24 | $7.6M | $-98.9M | ||
| Q1 24 | $789.0K | $-126.5M |
| Q4 25 | — | -71.3% | ||
| Q3 25 | 1.6% | -132.7% | ||
| Q2 25 | 5.7% | -124.9% | ||
| Q1 25 | 9.7% | -222.8% | ||
| Q4 24 | — | -105.1% | ||
| Q3 24 | -0.8% | -104.6% | ||
| Q2 24 | 4.7% | -317.9% | ||
| Q1 24 | 0.6% | -17685.3% |
| Q4 25 | — | 10.7% | ||
| Q3 25 | 2.5% | 16.1% | ||
| Q2 25 | 0.2% | 12.4% | ||
| Q1 25 | 0.2% | 12.6% | ||
| Q4 24 | — | 5.7% | ||
| Q3 24 | 5.0% | 3.9% | ||
| Q2 24 | 1.5% | 1.4% | ||
| Q1 24 | 0.4% | 583.4% |
| Q4 25 | — | — | ||
| Q3 25 | 1.20× | — | ||
| Q2 25 | 1.67× | — | ||
| Q1 25 | 3.88× | — | ||
| 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
BTM
Segment breakdown not available.
IOVA
| Amtagvi | $64.9M | 75% |
| Proleukin | $21.9M | 25% |
