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Side-by-side financial comparison of Donnelley Financial Solutions, Inc. (DFIN) and IOVANCE BIOTHERAPEUTICS, INC. (IOVA). Click either name above to swap in a different company.
Donnelley Financial Solutions, Inc. is the larger business by last-quarter revenue ($172.5M vs $86.8M, roughly 2.0× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 10.4%). Donnelley Financial Solutions, Inc. produced more free cash flow last quarter ($47.9M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs -7.9%).
Donnelley Financial Solutions (DFIN) is a financial compliance company based in Chicago, Illinois, United States. The company provides software as a service (SaaS) products, software-enabled services (SeS), print, and compliance services related to US Securities and Exchange Commission regulations to companies in capital and investment markets.
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
DFIN vs IOVA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $172.5M | $86.8M |
| Net Profit | $6.2M | — |
| Gross Margin | — | 67.4% |
| Operating Margin | 8.3% | -84.7% |
| Net Margin | 3.6% | — |
| Revenue YoY | 10.4% | 17.7% |
| Net Profit YoY | -1.6% | — |
| EPS (diluted) | $0.31 | — |
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 | $172.5M | $86.8M | ||
| Q3 25 | $175.3M | $67.5M | ||
| Q2 25 | $218.1M | $60.0M | ||
| Q1 25 | $201.1M | $49.3M | ||
| Q4 24 | $156.3M | $73.7M | ||
| Q3 24 | $179.5M | $58.6M | ||
| Q2 24 | $242.7M | $31.1M | ||
| Q1 24 | $203.4M | $715.0K |
| Q4 25 | $6.2M | — | ||
| Q3 25 | $-40.9M | $-91.3M | ||
| Q2 25 | $36.1M | $-111.7M | ||
| Q1 25 | $31.0M | $-116.2M | ||
| Q4 24 | $6.3M | — | ||
| Q3 24 | $8.7M | $-83.5M | ||
| Q2 24 | $44.1M | $-97.1M | ||
| Q1 24 | $33.3M | $-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 | 8.3% | -84.7% | ||
| Q3 25 | 16.1% | -140.7% | ||
| Q2 25 | 24.2% | -189.8% | ||
| Q1 25 | 22.8% | -245.8% | ||
| Q4 24 | 6.0% | -117.5% | ||
| Q3 24 | 10.1% | -152.1% | ||
| Q2 24 | 26.6% | -327.6% | ||
| Q1 24 | 21.9% | -16464.6% |
| Q4 25 | 3.6% | — | ||
| Q3 25 | -23.3% | -135.3% | ||
| Q2 25 | 16.6% | -186.2% | ||
| Q1 25 | 15.4% | -235.5% | ||
| Q4 24 | 4.0% | — | ||
| Q3 24 | 4.8% | -142.7% | ||
| Q2 24 | 18.2% | -312.2% | ||
| Q1 24 | 16.4% | -15800.8% |
| Q4 25 | $0.31 | — | ||
| Q3 25 | $-1.49 | — | ||
| Q2 25 | $1.28 | $-0.33 | ||
| Q1 25 | $1.05 | $-0.36 | ||
| Q4 24 | $0.21 | $-0.24 | ||
| Q3 24 | $0.29 | $-0.28 | ||
| Q2 24 | $1.47 | $-0.34 | ||
| Q1 24 | $1.09 | $-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 | $24.5M | $297.0M |
| Total DebtLower is stronger | $171.3M | — |
| Stockholders' EquityBook value | $379.2M | $698.6M |
| Total Assets | $800.4M | $913.2M |
| Debt / EquityLower = less leverage | 0.45× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.5M | $297.0M | ||
| Q3 25 | $22.7M | $300.8M | ||
| Q2 25 | $33.8M | $301.2M | ||
| Q1 25 | $16.2M | $359.7M | ||
| Q4 24 | $57.3M | $323.8M | ||
| Q3 24 | $33.6M | $397.5M | ||
| Q2 24 | $35.0M | $412.5M | ||
| Q1 24 | $43.7M | $356.2M |
| Q4 25 | $171.3M | — | ||
| Q3 25 | $154.7M | — | ||
| Q2 25 | $190.1M | — | ||
| Q1 25 | $189.5M | — | ||
| Q4 24 | $124.7M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $379.2M | $698.6M | ||
| Q3 25 | $423.1M | $702.3M | ||
| Q2 25 | $432.1M | $698.5M | ||
| Q1 25 | $419.9M | $767.9M | ||
| Q4 24 | $436.1M | $710.4M | ||
| Q3 24 | $444.5M | $773.5M | ||
| Q2 24 | $441.5M | $768.5M | ||
| Q1 24 | $408.9M | $680.0M |
| Q4 25 | $800.4M | $913.2M | ||
| Q3 25 | $816.3M | $904.9M | ||
| Q2 25 | $874.7M | $907.4M | ||
| Q1 25 | $852.8M | $966.7M | ||
| Q4 24 | $841.6M | $910.4M | ||
| Q3 24 | $843.6M | $991.1M | ||
| Q2 24 | $882.9M | $964.3M | ||
| Q1 24 | $867.8M | $869.8M |
| Q4 25 | 0.45× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.44× | — | ||
| Q1 25 | 0.45× | — | ||
| Q4 24 | 0.29× | — | ||
| 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 | $59.8M | $-52.6M |
| Free Cash FlowOCF − Capex | $47.9M | $-61.9M |
| FCF MarginFCF / Revenue | 27.8% | -71.3% |
| Capex IntensityCapex / Revenue | 6.9% | 10.7% |
| Cash ConversionOCF / Net Profit | 9.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | $107.8M | $-336.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $59.8M | $-52.6M | ||
| Q3 25 | $74.4M | $-78.7M | ||
| Q2 25 | $68.4M | $-67.4M | ||
| Q1 25 | $-37.7M | $-103.7M | ||
| Q4 24 | $56.4M | $-73.3M | ||
| Q3 24 | $86.4M | $-59.0M | ||
| Q2 24 | $56.2M | $-98.4M | ||
| Q1 24 | $-27.9M | $-122.3M |
| Q4 25 | $47.9M | $-61.9M | ||
| Q3 25 | $59.2M | $-89.5M | ||
| Q2 25 | $51.7M | $-74.9M | ||
| Q1 25 | $-51.0M | $-109.9M | ||
| Q4 24 | $41.3M | $-77.5M | ||
| Q3 24 | $67.3M | $-61.3M | ||
| Q2 24 | $36.8M | $-98.9M | ||
| Q1 24 | $-40.2M | $-126.5M |
| Q4 25 | 27.8% | -71.3% | ||
| Q3 25 | 33.8% | -132.7% | ||
| Q2 25 | 23.7% | -124.9% | ||
| Q1 25 | -25.4% | -222.8% | ||
| Q4 24 | 26.4% | -105.1% | ||
| Q3 24 | 37.5% | -104.6% | ||
| Q2 24 | 15.2% | -317.9% | ||
| Q1 24 | -19.8% | -17685.3% |
| Q4 25 | 6.9% | 10.7% | ||
| Q3 25 | 8.7% | 16.1% | ||
| Q2 25 | 7.7% | 12.4% | ||
| Q1 25 | 6.6% | 12.6% | ||
| Q4 24 | 9.7% | 5.7% | ||
| Q3 24 | 10.6% | 3.9% | ||
| Q2 24 | 8.0% | 1.4% | ||
| Q1 24 | 6.0% | 583.4% |
| Q4 25 | 9.65× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 1.89× | — | ||
| Q1 25 | -1.22× | — | ||
| Q4 24 | 8.95× | — | ||
| Q3 24 | 9.93× | — | ||
| Q2 24 | 1.27× | — | ||
| Q1 24 | -0.84× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DFIN
| Technology Service | $68.0M | 39% |
| Capital Markets Compliance And Communications Management | $61.6M | 36% |
| Investment Companies Software Solutions | $30.9M | 18% |
| Print And Distribution Service | $13.6M | 8% |
IOVA
| Amtagvi | $64.9M | 75% |
| Proleukin | $21.9M | 25% |
