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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and LandBridge Co LLC (LB). Click either name above to swap in a different company.
IOVANCE BIOTHERAPEUTICS, INC. is the larger business by last-quarter revenue ($86.8M vs $56.8M, roughly 1.5× LandBridge Co LLC). On growth, LandBridge Co LLC posted the faster year-over-year revenue change (55.6% vs 17.7%). LandBridge Co LLC produced more free cash flow last quarter ($122.0M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 72.8%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
IOVA vs LB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $56.8M |
| Net Profit | — | $8.1M |
| Gross Margin | 67.4% | — |
| Operating Margin | -84.7% | 60.0% |
| Net Margin | — | 14.2% |
| Revenue YoY | 17.7% | 55.6% |
| Net Profit YoY | — | -83.7% |
| EPS (diluted) | — | $0.24 |
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 | $56.8M | ||
| Q3 25 | $67.5M | $50.8M | ||
| Q2 25 | $60.0M | $47.5M | ||
| Q1 25 | $49.3M | $44.0M | ||
| Q4 24 | $73.7M | $36.5M | ||
| Q3 24 | $58.6M | $28.5M | ||
| Q2 24 | $31.1M | $26.0M | ||
| Q1 24 | $715.0K | $19.0M |
| Q4 25 | — | $8.1M | ||
| Q3 25 | $-91.3M | $8.1M | ||
| Q2 25 | $-111.7M | $7.5M | ||
| Q1 25 | $-116.2M | $6.5M | ||
| Q4 24 | — | $49.3M | ||
| Q3 24 | $-83.5M | $2.7M | ||
| Q2 24 | $-97.1M | $-57.7M | ||
| Q1 24 | $-113.0M | $10.8M |
| 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 | -84.7% | 60.0% | ||
| Q3 25 | -140.7% | 60.8% | ||
| Q2 25 | -189.8% | 60.0% | ||
| Q1 25 | -245.8% | 57.0% | ||
| Q4 24 | -117.5% | 49.4% | ||
| Q3 24 | -152.1% | 11.2% | ||
| Q2 24 | -327.6% | -197.4% | ||
| Q1 24 | -16464.6% | 71.1% |
| Q4 25 | — | 14.2% | ||
| Q3 25 | -135.3% | 15.9% | ||
| Q2 25 | -186.2% | 15.8% | ||
| Q1 25 | -235.5% | 14.7% | ||
| Q4 24 | — | 135.2% | ||
| Q3 24 | -142.7% | 9.3% | ||
| Q2 24 | -312.2% | -222.1% | ||
| Q1 24 | -15800.8% | 56.7% |
| Q4 25 | — | $0.24 | ||
| Q3 25 | — | $0.26 | ||
| Q2 25 | $-0.33 | $0.24 | ||
| Q1 25 | $-0.36 | $0.20 | ||
| Q4 24 | $-0.24 | — | ||
| Q3 24 | $-0.28 | $-0.04 | ||
| 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 | $297.0M | $30.7M |
| Total DebtLower is stronger | — | $570.7M |
| Stockholders' EquityBook value | $698.6M | $340.3M |
| Total Assets | $913.2M | $1.4B |
| Debt / EquityLower = less leverage | — | 1.68× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.0M | $30.7M | ||
| Q3 25 | $300.8M | $28.3M | ||
| Q2 25 | $301.2M | $20.3M | ||
| Q1 25 | $359.7M | $14.9M | ||
| Q4 24 | $323.8M | $37.0M | ||
| Q3 24 | $397.5M | $14.4M | ||
| Q2 24 | $412.5M | $24.6M | ||
| Q1 24 | $356.2M | — |
| Q4 25 | — | $570.7M | ||
| Q3 25 | — | $366.1M | ||
| Q2 25 | — | $370.9M | ||
| Q1 25 | — | $375.5M | ||
| Q4 24 | — | $385.5M | ||
| Q3 24 | — | $242.4M | ||
| Q2 24 | — | $360.8M | ||
| Q1 24 | — | — |
| Q4 25 | $698.6M | $340.3M | ||
| Q3 25 | $702.3M | $272.0M | ||
| Q2 25 | $698.5M | $266.4M | ||
| Q1 25 | $767.9M | $217.0M | ||
| Q4 24 | $710.4M | $211.8M | ||
| Q3 24 | $773.5M | $97.2M | ||
| Q2 24 | $768.5M | $296.4M | ||
| Q1 24 | $680.0M | $162.3M |
| Q4 25 | $913.2M | $1.4B | ||
| Q3 25 | $904.9M | $1.1B | ||
| Q2 25 | $907.4M | $1.1B | ||
| Q1 25 | $966.7M | $1.0B | ||
| Q4 24 | $910.4M | $1.0B | ||
| Q3 24 | $991.1M | $689.9M | ||
| Q2 24 | $964.3M | $710.5M | ||
| Q1 24 | $869.8M | — |
| Q4 25 | — | 1.68× | ||
| Q3 25 | — | 1.35× | ||
| Q2 25 | — | 1.39× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | — | 1.82× | ||
| Q3 24 | — | 2.49× | ||
| Q2 24 | — | 1.22× | ||
| 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 | $-52.6M | $126.3M |
| Free Cash FlowOCF − Capex | $-61.9M | $122.0M |
| FCF MarginFCF / Revenue | -71.3% | 214.9% |
| Capex IntensityCapex / Revenue | 10.7% | 7.5% |
| Cash ConversionOCF / Net Profit | — | 15.68× |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | $207.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-52.6M | $126.3M | ||
| Q3 25 | $-78.7M | $34.9M | ||
| Q2 25 | $-67.4M | $37.3M | ||
| Q1 25 | $-103.7M | $15.9M | ||
| Q4 24 | $-73.3M | $67.6M | ||
| Q3 24 | $-59.0M | $7.5M | ||
| Q2 24 | $-98.4M | $16.0M | ||
| Q1 24 | $-122.3M | $17.2M |
| Q4 25 | $-61.9M | $122.0M | ||
| Q3 25 | $-89.5M | $33.7M | ||
| Q2 25 | $-74.9M | $36.1M | ||
| Q1 25 | $-109.9M | $15.8M | ||
| Q4 24 | $-77.5M | $66.7M | ||
| Q3 24 | $-61.3M | $7.1M | ||
| Q2 24 | $-98.9M | $15.7M | ||
| Q1 24 | $-126.5M | $17.1M |
| Q4 25 | -71.3% | 214.9% | ||
| Q3 25 | -132.7% | 66.3% | ||
| Q2 25 | -124.9% | 75.9% | ||
| Q1 25 | -222.8% | 36.0% | ||
| Q4 24 | -105.1% | 182.6% | ||
| Q3 24 | -104.6% | 25.1% | ||
| Q2 24 | -317.9% | 60.4% | ||
| Q1 24 | -17685.3% | 90.1% |
| Q4 25 | 10.7% | 7.5% | ||
| Q3 25 | 16.1% | 2.3% | ||
| Q2 25 | 12.4% | 2.6% | ||
| Q1 25 | 12.6% | 0.2% | ||
| Q4 24 | 5.7% | 2.7% | ||
| Q3 24 | 3.9% | 1.1% | ||
| Q2 24 | 1.4% | 1.4% | ||
| Q1 24 | 583.4% | 0.5% |
| Q4 25 | — | 15.68× | ||
| Q3 25 | — | 4.31× | ||
| Q2 25 | — | 4.98× | ||
| Q1 25 | — | 2.46× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 2.80× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.60× |
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% |
LB
Segment breakdown not available.
