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Side-by-side financial comparison of Caledonia Mining Corp Plc (CMCL) 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 $46.9M, roughly 1.9× Caledonia Mining Corp Plc). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 13.8%). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 17.1%).

Hochschild Mining plc is a leading British-based silver and gold mining business operating in North, Central, and South America. It is headquartered in Lima, Peru, with a corporate office in London, is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The main shareholder is the Peruvian businessman Eduardo Hochschild.

Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.

CMCL vs IOVA — Head-to-Head

Bigger by revenue
IOVA
IOVA
1.9× larger
IOVA
$86.8M
$46.9M
CMCL
Growing faster (revenue YoY)
IOVA
IOVA
+4.0% gap
IOVA
17.7%
13.8%
CMCL
Faster 2-yr revenue CAGR
IOVA
IOVA
Annualised
IOVA
1001.6%
17.1%
CMCL

Income Statement — Q3 FY2024 vs Q4 FY2025

Metric
CMCL
CMCL
IOVA
IOVA
Revenue
$46.9M
$86.8M
Net Profit
$3.3M
Gross Margin
41.2%
67.4%
Operating Margin
18.6%
-84.7%
Net Margin
7.0%
Revenue YoY
13.8%
17.7%
Net Profit YoY
-33.3%
EPS (diluted)
$0.13

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.

Revenue
CMCL
CMCL
IOVA
IOVA
Q4 25
$86.8M
Q3 25
$67.5M
Q2 25
$60.0M
Q1 25
$49.3M
Q4 24
$73.7M
Q3 24
$46.9M
$58.6M
Q2 24
$50.1M
$31.1M
Q1 24
$38.5M
$715.0K
Net Profit
CMCL
CMCL
IOVA
IOVA
Q4 25
Q3 25
$-91.3M
Q2 25
$-111.7M
Q1 25
$-116.2M
Q4 24
Q3 24
$3.3M
$-83.5M
Q2 24
$10.2M
$-97.1M
Q1 24
$2.1M
$-113.0M
Gross Margin
CMCL
CMCL
IOVA
IOVA
Q4 25
67.4%
Q3 25
43.0%
Q2 25
5.5%
Q1 25
-0.8%
Q4 24
68.7%
Q3 24
41.2%
46.2%
Q2 24
45.8%
-0.8%
Q1 24
35.9%
Operating Margin
CMCL
CMCL
IOVA
IOVA
Q4 25
-84.7%
Q3 25
-140.7%
Q2 25
-189.8%
Q1 25
-245.8%
Q4 24
-117.5%
Q3 24
18.6%
-152.1%
Q2 24
32.2%
-327.6%
Q1 24
13.8%
-16464.6%
Net Margin
CMCL
CMCL
IOVA
IOVA
Q4 25
Q3 25
-135.3%
Q2 25
-186.2%
Q1 25
-235.5%
Q4 24
Q3 24
7.0%
-142.7%
Q2 24
20.3%
-312.2%
Q1 24
5.4%
-15800.8%
EPS (diluted)
CMCL
CMCL
IOVA
IOVA
Q4 25
Q3 25
Q2 25
$-0.33
Q1 25
$-0.36
Q4 24
$-0.24
Q3 24
$0.13
$-0.28
Q2 24
$0.42
$-0.34
Q1 24
$0.07
$-0.42

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
CMCL
CMCL
IOVA
IOVA
Cash + ST InvestmentsLiquidity on hand
$7.2M
$297.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$231.0M
$698.6M
Total Assets
$339.7M
$913.2M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CMCL
CMCL
IOVA
IOVA
Q4 25
$297.0M
Q3 25
$300.8M
Q2 25
$301.2M
Q1 25
$359.7M
Q4 24
$323.8M
Q3 24
$7.2M
$397.5M
Q2 24
$15.4M
$412.5M
Q1 24
$1.8M
$356.2M
Stockholders' Equity
CMCL
CMCL
IOVA
IOVA
Q4 25
$698.6M
Q3 25
$702.3M
Q2 25
$698.5M
Q1 25
$767.9M
Q4 24
$710.4M
Q3 24
$231.0M
$773.5M
Q2 24
$231.1M
$768.5M
Q1 24
$220.3M
$680.0M
Total Assets
CMCL
CMCL
IOVA
IOVA
Q4 25
$913.2M
Q3 25
$904.9M
Q2 25
$907.4M
Q1 25
$966.7M
Q4 24
$910.4M
Q3 24
$339.7M
$991.1M
Q2 24
$338.5M
$964.3M
Q1 24
$321.8M
$869.8M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
CMCL
CMCL
IOVA
IOVA
Operating Cash FlowLast quarter
$4.6M
$-52.6M
Free Cash FlowOCF − Capex
$-61.9M
FCF MarginFCF / Revenue
-71.3%
Capex IntensityCapex / Revenue
10.7%
Cash ConversionOCF / Net Profit
1.40×
TTM Free Cash FlowTrailing 4 quarters
$-336.2M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CMCL
CMCL
IOVA
IOVA
Q4 25
$-52.6M
Q3 25
$-78.7M
Q2 25
$-67.4M
Q1 25
$-103.7M
Q4 24
$-73.3M
Q3 24
$4.6M
$-59.0M
Q2 24
$19.1M
$-98.4M
Q1 24
$-122.3M
Free Cash Flow
CMCL
CMCL
IOVA
IOVA
Q4 25
$-61.9M
Q3 25
$-89.5M
Q2 25
$-74.9M
Q1 25
$-109.9M
Q4 24
$-77.5M
Q3 24
$-61.3M
Q2 24
$-98.9M
Q1 24
$-126.5M
FCF Margin
CMCL
CMCL
IOVA
IOVA
Q4 25
-71.3%
Q3 25
-132.7%
Q2 25
-124.9%
Q1 25
-222.8%
Q4 24
-105.1%
Q3 24
-104.6%
Q2 24
-317.9%
Q1 24
-17685.3%
Capex Intensity
CMCL
CMCL
IOVA
IOVA
Q4 25
10.7%
Q3 25
16.1%
Q2 25
12.4%
Q1 25
12.6%
Q4 24
5.7%
Q3 24
3.9%
Q2 24
1.4%
Q1 24
583.4%
Cash Conversion
CMCL
CMCL
IOVA
IOVA
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
1.40×
Q2 24
1.87×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

CMCL
CMCL

Segment breakdown not available.

IOVA
IOVA

Amtagvi$64.9M75%
Proleukin$21.9M25%

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