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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and INDEPENDENCE REALTY TRUST, INC. (IRT). Click either name above to swap in a different company.
INDEPENDENCE REALTY TRUST, INC. is the larger business by last-quarter revenue ($165.3M vs $86.8M, roughly 1.9× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 2.5%). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 2.2%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
Brandywine Realty Trust is a Philadelphia-based real estate investment trust (REIT) that invests in office buildings in Philadelphia, Washington, D.C., and Austin, Texas.
IOVA vs IRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $165.3M |
| Net Profit | — | — |
| Gross Margin | 67.4% | — |
| Operating Margin | -84.7% | — |
| Net Margin | — | — |
| Revenue YoY | 17.7% | 2.5% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $0.00 |
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.
| Q1 26 | — | $165.3M | ||
| Q4 25 | $86.8M | $167.1M | ||
| Q3 25 | $67.5M | $167.1M | ||
| Q2 25 | $60.0M | $162.2M | ||
| Q1 25 | $49.3M | $161.2M | ||
| Q4 24 | $73.7M | $161.0M | ||
| Q3 24 | $58.6M | $160.1M | ||
| Q2 24 | $31.1M | $158.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $33.3M | ||
| Q3 25 | $-91.3M | $6.9M | ||
| Q2 25 | $-111.7M | $8.0M | ||
| Q1 25 | $-116.2M | $8.4M | ||
| Q4 24 | — | $-1.0M | ||
| Q3 24 | $-83.5M | $12.4M | ||
| Q2 24 | $-97.1M | $10.4M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | -84.7% | — | ||
| Q3 25 | -140.7% | — | ||
| Q2 25 | -189.8% | — | ||
| Q1 25 | -245.8% | — | ||
| Q4 24 | -117.5% | — | ||
| Q3 24 | -152.1% | — | ||
| Q2 24 | -327.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 19.9% | ||
| Q3 25 | -135.3% | 4.1% | ||
| Q2 25 | -186.2% | 5.0% | ||
| Q1 25 | -235.5% | 5.2% | ||
| Q4 24 | — | -0.6% | ||
| Q3 24 | -142.7% | 7.7% | ||
| Q2 24 | -312.2% | 6.5% |
| Q1 26 | — | $0.00 | ||
| Q4 25 | — | $0.14 | ||
| Q3 25 | — | $0.03 | ||
| Q2 25 | $-0.33 | $0.03 | ||
| Q1 25 | $-0.36 | $0.04 | ||
| Q4 24 | $-0.24 | $-0.01 | ||
| Q3 24 | $-0.28 | $0.05 | ||
| Q2 24 | $-0.34 | $0.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $297.0M | $23.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $698.6M | $3.4B |
| Total Assets | $913.2M | $6.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $23.3M | ||
| Q4 25 | $297.0M | $23.6M | ||
| Q3 25 | $300.8M | $23.3M | ||
| Q2 25 | $301.2M | $19.5M | ||
| Q1 25 | $359.7M | $29.1M | ||
| Q4 24 | $323.8M | $21.2M | ||
| Q3 24 | $397.5M | $17.6M | ||
| Q2 24 | $412.5M | $21.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $2.3B | ||
| Q3 25 | — | $2.3B | ||
| Q2 25 | — | $2.2B | ||
| Q1 25 | — | $2.3B | ||
| Q4 24 | — | $2.3B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.3B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $698.6M | $3.5B | ||
| Q3 25 | $702.3M | $3.5B | ||
| Q2 25 | $698.5M | $3.4B | ||
| Q1 25 | $767.9M | $3.5B | ||
| Q4 24 | $710.4M | $3.4B | ||
| Q3 24 | $773.5M | $3.4B | ||
| Q2 24 | $768.5M | $3.4B |
| Q1 26 | — | $6.1B | ||
| Q4 25 | $913.2M | $6.0B | ||
| Q3 25 | $904.9M | $6.1B | ||
| Q2 25 | $907.4M | $6.0B | ||
| Q1 25 | $966.7M | $6.0B | ||
| Q4 24 | $910.4M | $6.1B | ||
| Q3 24 | $991.1M | $5.9B | ||
| Q2 24 | $964.3M | $5.9B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.66× | ||
| Q3 25 | — | 0.66× | ||
| Q2 25 | — | 0.66× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.66× |
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 | $-52.6M | — |
| Free Cash FlowOCF − Capex | $-61.9M | — |
| FCF MarginFCF / Revenue | -71.3% | — |
| Capex IntensityCapex / Revenue | 10.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-52.6M | $282.1M | ||
| Q3 25 | $-78.7M | $79.3M | ||
| Q2 25 | $-67.4M | $82.2M | ||
| Q1 25 | $-103.7M | $60.4M | ||
| Q4 24 | $-73.3M | $259.8M | ||
| Q3 24 | $-59.0M | $69.2M | ||
| Q2 24 | $-98.4M | $83.0M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | — | 8.48× | ||
| Q3 25 | — | 11.51× | ||
| Q2 25 | — | 10.22× | ||
| Q1 25 | — | 7.23× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 5.60× | ||
| Q2 24 | — | 8.02× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IOVA
| Amtagvi | $64.9M | 75% |
| Proleukin | $21.9M | 25% |
IRT
| Rental and other property revenue | $165.2M | 100% |
| Other revenue | $109.0K | 0% |
