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Side-by-side financial comparison of GCL Global Holdings Ltd (GCL) and IOVANCE BIOTHERAPEUTICS, INC. (IOVA). Click either name above to swap in a different company.
GCL Global Holdings Ltd is the larger business by last-quarter revenue ($98.7M vs $86.8M, roughly 1.1× IOVANCE BIOTHERAPEUTICS, INC.). GCL Global Holdings Ltd produced more free cash flow last quarter ($-5.2M vs $-61.9M).
GCL Global Holdings Ltd is a leading clean energy enterprise focusing on R&D, production and operation of photovoltaic products, energy storage systems and low-carbon energy solutions. Its main markets cover Asia, Europe, North America, serving utility, commercial and residential distributed energy users across the globe.
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
GCL vs IOVA — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $98.7M | $86.8M |
| Net Profit | $-5.1M | — |
| Gross Margin | 11.0% | 67.4% |
| Operating Margin | -6.7% | -84.7% |
| Net Margin | -5.2% | — |
| Revenue YoY | — | 17.7% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.04 | — |
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 | $98.7M | $67.5M | ||
| Q2 25 | $142.1M | $60.0M | ||
| Q1 25 | — | $49.3M | ||
| Q4 24 | — | $73.7M | ||
| Q3 24 | $36.1M | $58.6M | ||
| Q2 24 | — | $31.1M | ||
| Q1 24 | — | $715.0K |
| Q4 25 | — | — | ||
| Q3 25 | $-5.1M | $-91.3M | ||
| Q2 25 | $5.6M | $-111.7M | ||
| Q1 25 | — | $-116.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-1.9M | $-83.5M | ||
| Q2 24 | — | $-97.1M | ||
| Q1 24 | — | $-113.0M |
| Q4 25 | — | 67.4% | ||
| Q3 25 | 11.0% | 43.0% | ||
| Q2 25 | 15.0% | 5.5% | ||
| Q1 25 | — | -0.8% | ||
| Q4 24 | — | 68.7% | ||
| Q3 24 | 16.2% | 46.2% | ||
| Q2 24 | — | -0.8% | ||
| Q1 24 | — | — |
| Q4 25 | — | -84.7% | ||
| Q3 25 | -6.7% | -140.7% | ||
| Q2 25 | 2.3% | -189.8% | ||
| Q1 25 | — | -245.8% | ||
| Q4 24 | — | -117.5% | ||
| Q3 24 | -5.6% | -152.1% | ||
| Q2 24 | — | -327.6% | ||
| Q1 24 | — | -16464.6% |
| Q4 25 | — | — | ||
| Q3 25 | -5.2% | -135.3% | ||
| Q2 25 | 3.9% | -186.2% | ||
| Q1 25 | — | -235.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | -5.2% | -142.7% | ||
| Q2 24 | — | -312.2% | ||
| Q1 24 | — | -15800.8% |
| Q4 25 | — | — | ||
| Q3 25 | $-0.04 | — | ||
| Q2 25 | $0.05 | $-0.33 | ||
| Q1 25 | — | $-0.36 | ||
| Q4 24 | — | $-0.24 | ||
| Q3 24 | — | $-0.28 | ||
| Q2 24 | — | $-0.34 | ||
| Q1 24 | — | $-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 | $16.6M | $297.0M |
| Total DebtLower is stronger | $52.0M | — |
| Stockholders' EquityBook value | $33.1M | $698.6M |
| Total Assets | $159.9M | $913.2M |
| Debt / EquityLower = less leverage | 1.57× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $297.0M | ||
| Q3 25 | $16.6M | $300.8M | ||
| Q2 25 | $18.2M | $301.2M | ||
| Q1 25 | — | $359.7M | ||
| Q4 24 | — | $323.8M | ||
| Q3 24 | $2.7M | $397.5M | ||
| Q2 24 | — | $412.5M | ||
| Q1 24 | — | $356.2M |
| Q4 25 | — | — | ||
| Q3 25 | $52.0M | — | ||
| Q2 25 | $11.9M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $698.6M | ||
| Q3 25 | $33.1M | $702.3M | ||
| Q2 25 | $35.9M | $698.5M | ||
| Q1 25 | — | $767.9M | ||
| Q4 24 | — | $710.4M | ||
| Q3 24 | $15.9M | $773.5M | ||
| Q2 24 | — | $768.5M | ||
| Q1 24 | — | $680.0M |
| Q4 25 | — | $913.2M | ||
| Q3 25 | $159.9M | $904.9M | ||
| Q2 25 | $101.6M | $907.4M | ||
| Q1 25 | — | $966.7M | ||
| Q4 24 | — | $910.4M | ||
| Q3 24 | $49.6M | $991.1M | ||
| Q2 24 | — | $964.3M | ||
| Q1 24 | — | $869.8M |
| Q4 25 | — | — | ||
| Q3 25 | 1.57× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | — | — | ||
| 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 | $-4.8M | $-52.6M |
| Free Cash FlowOCF − Capex | $-5.2M | $-61.9M |
| FCF MarginFCF / Revenue | -5.3% | -71.3% |
| Capex IntensityCapex / Revenue | 0.4% | 10.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-336.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-52.6M | ||
| Q3 25 | $-4.8M | $-78.7M | ||
| Q2 25 | $-10.3M | $-67.4M | ||
| Q1 25 | — | $-103.7M | ||
| Q4 24 | — | $-73.3M | ||
| Q3 24 | $6.1M | $-59.0M | ||
| Q2 24 | — | $-98.4M | ||
| Q1 24 | — | $-122.3M |
| Q4 25 | — | $-61.9M | ||
| Q3 25 | $-5.2M | $-89.5M | ||
| Q2 25 | $-10.5M | $-74.9M | ||
| Q1 25 | — | $-109.9M | ||
| Q4 24 | — | $-77.5M | ||
| Q3 24 | — | $-61.3M | ||
| Q2 24 | — | $-98.9M | ||
| Q1 24 | — | $-126.5M |
| Q4 25 | — | -71.3% | ||
| Q3 25 | -5.3% | -132.7% | ||
| Q2 25 | -7.4% | -124.9% | ||
| Q1 25 | — | -222.8% | ||
| Q4 24 | — | -105.1% | ||
| Q3 24 | — | -104.6% | ||
| Q2 24 | — | -317.9% | ||
| Q1 24 | — | -17685.3% |
| Q4 25 | — | 10.7% | ||
| Q3 25 | 0.4% | 16.1% | ||
| Q2 25 | 0.1% | 12.4% | ||
| Q1 25 | — | 12.6% | ||
| Q4 24 | — | 5.7% | ||
| Q3 24 | — | 3.9% | ||
| Q2 24 | — | 1.4% | ||
| Q1 24 | — | 583.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -1.84× | — | ||
| Q1 25 | — | — | ||
| 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
GCL
Segment breakdown not available.
IOVA
| Amtagvi | $64.9M | 75% |
| Proleukin | $21.9M | 25% |
