vs
Side-by-side financial comparison of CBAK Energy Technology, Inc. (CBAT) 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 $58.8M, roughly 1.5× CBAK Energy Technology, Inc.). On growth, CBAK Energy Technology, Inc. posted the faster year-over-year revenue change (131.8% vs 17.7%). CBAK Energy Technology, Inc. produced more free cash flow last quarter ($16.1M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs -0.0%).
CBAK Energy Technology, Inc. is a global supplier of lithium-ion battery products including high-performance cells, modules and battery packs. It serves key segments such as electric vehicles, stationary energy storage systems and consumer electronics, with core operations in China and a worldwide customer base.
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
CBAT vs IOVA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $58.8M | $86.8M |
| Net Profit | $-7.4M | — |
| Gross Margin | 7.3% | 67.4% |
| Operating Margin | -13.6% | -84.7% |
| Net Margin | -12.5% | — |
| Revenue YoY | 131.8% | 17.7% |
| Net Profit YoY | -63.6% | — |
| 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 | $58.8M | $86.8M | ||
| Q3 25 | $60.9M | $67.5M | ||
| Q2 25 | $40.5M | $60.0M | ||
| Q1 25 | $34.9M | $49.3M | ||
| Q4 24 | $25.4M | $73.7M | ||
| Q3 24 | $44.6M | $58.6M | ||
| Q2 24 | $47.8M | $31.1M | ||
| Q1 24 | $58.8M | $715.0K |
| Q4 25 | $-7.4M | — | ||
| Q3 25 | $2.7M | $-91.3M | ||
| Q2 25 | $-3.1M | $-111.7M | ||
| Q1 25 | $-1.6M | $-116.2M | ||
| Q4 24 | $-4.5M | — | ||
| Q3 24 | $17.6K | $-83.5M | ||
| Q2 24 | $6.4M | $-97.1M | ||
| Q1 24 | $9.8M | $-113.0M |
| Q4 25 | 7.3% | 67.4% | ||
| Q3 25 | 8.0% | 43.0% | ||
| Q2 25 | 11.0% | 5.5% | ||
| Q1 25 | 13.7% | -0.8% | ||
| Q4 24 | 13.1% | 68.7% | ||
| Q3 24 | 15.6% | 46.2% | ||
| Q2 24 | 26.6% | -0.8% | ||
| Q1 24 | 31.9% | — |
| Q4 25 | -13.6% | -84.7% | ||
| Q3 25 | -6.6% | -140.7% | ||
| Q2 25 | -8.7% | -189.8% | ||
| Q1 25 | -8.2% | -245.8% | ||
| Q4 24 | -26.0% | -117.5% | ||
| Q3 24 | -1.9% | -152.1% | ||
| Q2 24 | 12.4% | -327.6% | ||
| Q1 24 | 17.4% | -16464.6% |
| Q4 25 | -12.5% | — | ||
| Q3 25 | 4.4% | -135.3% | ||
| Q2 25 | -7.6% | -186.2% | ||
| Q1 25 | -4.5% | -235.5% | ||
| Q4 24 | -17.8% | — | ||
| Q3 24 | 0.0% | -142.7% | ||
| Q2 24 | 13.5% | -312.2% | ||
| Q1 24 | 16.7% | -15800.8% |
| Q4 25 | $-0.08 | — | ||
| Q3 25 | $0.03 | — | ||
| Q2 25 | $-0.03 | $-0.33 | ||
| Q1 25 | $-0.02 | $-0.36 | ||
| Q4 24 | $-0.05 | $-0.24 | ||
| Q3 24 | $0.00 | $-0.28 | ||
| Q2 24 | $0.07 | $-0.34 | ||
| Q1 24 | $0.11 | $-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 | $8.3M | $297.0M |
| Total DebtLower is stronger | $4.1M | — |
| Stockholders' EquityBook value | $112.7M | $698.6M |
| Total Assets | $426.2M | $913.2M |
| Debt / EquityLower = less leverage | 0.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.3M | $297.0M | ||
| Q3 25 | $10.5M | $300.8M | ||
| Q2 25 | $45.7M | $301.2M | ||
| Q1 25 | $9.6M | $359.7M | ||
| Q4 24 | $11.0M | $323.8M | ||
| Q3 24 | $24.2M | $397.5M | ||
| Q2 24 | $44.1M | $412.5M | ||
| Q1 24 | $23.8M | $356.2M |
| Q4 25 | $4.1M | — | ||
| Q3 25 | $4.8M | — | ||
| Q2 25 | $4.9M | — | ||
| Q1 25 | $4.1M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $112.7M | $698.6M | ||
| Q3 25 | $121.4M | $702.3M | ||
| Q2 25 | $118.2M | $698.5M | ||
| Q1 25 | $120.8M | $767.9M | ||
| Q4 24 | $121.7M | $710.4M | ||
| Q3 24 | $131.2M | $773.5M | ||
| Q2 24 | $126.6M | $768.5M | ||
| Q1 24 | $120.9M | $680.0M |
| Q4 25 | $426.2M | $913.2M | ||
| Q3 25 | $363.9M | $904.9M | ||
| Q2 25 | $333.1M | $907.4M | ||
| Q1 25 | $311.5M | $966.7M | ||
| Q4 24 | $302.2M | $910.4M | ||
| Q3 24 | $293.5M | $991.1M | ||
| Q2 24 | $279.6M | $964.3M | ||
| Q1 24 | $286.5M | $869.8M |
| Q4 25 | 0.04× | — | ||
| Q3 25 | 0.04× | — | ||
| Q2 25 | 0.04× | — | ||
| Q1 25 | 0.03× | — | ||
| 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 | $29.8M | $-52.6M |
| Free Cash FlowOCF − Capex | $16.1M | $-61.9M |
| FCF MarginFCF / Revenue | 27.3% | -71.3% |
| Capex IntensityCapex / Revenue | 23.4% | 10.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $3.9M | $-336.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.8M | $-52.6M | ||
| Q3 25 | $14.6M | $-78.7M | ||
| Q2 25 | $13.8M | $-67.4M | ||
| Q1 25 | $-9.6M | $-103.7M | ||
| Q4 24 | $9.6M | $-73.3M | ||
| Q3 24 | $19.7M | $-59.0M | ||
| Q2 24 | $2.9M | $-98.4M | ||
| Q1 24 | $7.4M | $-122.3M |
| Q4 25 | $16.1M | $-61.9M | ||
| Q3 25 | $6.0M | $-89.5M | ||
| Q2 25 | $4.1M | $-74.9M | ||
| Q1 25 | $-22.3M | $-109.9M | ||
| Q4 24 | $3.9M | $-77.5M | ||
| Q3 24 | $16.5M | $-61.3M | ||
| Q2 24 | $2.5M | $-98.9M | ||
| Q1 24 | $-454.0K | $-126.5M |
| Q4 25 | 27.3% | -71.3% | ||
| Q3 25 | 9.9% | -132.7% | ||
| Q2 25 | 10.2% | -124.9% | ||
| Q1 25 | -63.9% | -222.8% | ||
| Q4 24 | 15.5% | -105.1% | ||
| Q3 24 | 37.1% | -104.6% | ||
| Q2 24 | 5.2% | -317.9% | ||
| Q1 24 | -0.8% | -17685.3% |
| Q4 25 | 23.4% | 10.7% | ||
| Q3 25 | 14.1% | 16.1% | ||
| Q2 25 | 23.8% | 12.4% | ||
| Q1 25 | 36.3% | 12.6% | ||
| Q4 24 | 22.5% | 5.7% | ||
| Q3 24 | 7.0% | 3.9% | ||
| Q2 24 | 0.9% | 1.4% | ||
| Q1 24 | 13.4% | 583.4% |
| Q4 25 | — | — | ||
| Q3 25 | 5.51× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1115.72× | — | ||
| Q2 24 | 0.46× | — | ||
| Q1 24 | 0.76× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CBAT
| Manufacturing Lithium Batteries | $28.0M | 48% |
| Residential Energy Supply And Uninterruptable Supplies | $17.8M | 30% |
| Light Electric Vehicles | $12.9M | 22% |
| Precursor | $108.0K | 0% |
IOVA
| Amtagvi | $64.9M | 75% |
| Proleukin | $21.9M | 25% |
