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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and Ramaco Resources, Inc. (METC). Click either name above to swap in a different company.
Ramaco Resources, Inc. is the larger business by last-quarter revenue ($121.0M vs $86.8M, roughly 1.4× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs -27.7%). Ramaco Resources, Inc. produced more free cash flow last quarter ($-17.5M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs -22.7%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
Ramaco Resources, Inc. is a U.S.-based mining company focused on high-grade metallurgical coal production. It operates mining assets across the Appalachian region, supplying products to global steel manufacturing and industrial clients, with core operations centered on sustainable low-cost metallurgical coal extraction and distribution.
IOVA vs METC — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $121.0M |
| Net Profit | — | $-13.3M |
| Gross Margin | 67.4% | 15.8% |
| Operating Margin | -84.7% | -12.0% |
| Net Margin | — | -11.0% |
| Revenue YoY | 17.7% | -27.7% |
| Net Profit YoY | — | -5468.2% |
| EPS (diluted) | — | — |
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 | $67.5M | $121.0M | ||
| Q2 25 | $60.0M | $153.0M | ||
| Q1 25 | $49.3M | $134.7M | ||
| Q4 24 | $73.7M | $170.9M | ||
| Q3 24 | $58.6M | $167.4M | ||
| Q2 24 | $31.1M | $155.3M | ||
| Q1 24 | $715.0K | $172.7M |
| Q4 25 | — | — | ||
| Q3 25 | $-91.3M | $-13.3M | ||
| Q2 25 | $-111.7M | $-14.0M | ||
| Q1 25 | $-116.2M | $-9.5M | ||
| Q4 24 | — | $3.9M | ||
| Q3 24 | $-83.5M | $-239.0K | ||
| Q2 24 | $-97.1M | $5.5M | ||
| Q1 24 | $-113.0M | $2.0M |
| Q4 25 | 67.4% | — | ||
| Q3 25 | 43.0% | 15.8% | ||
| Q2 25 | 5.5% | 12.3% | ||
| Q1 25 | -0.8% | 15.2% | ||
| Q4 24 | 68.7% | 20.4% | ||
| Q3 24 | 46.2% | 19.5% | ||
| Q2 24 | -0.8% | 21.0% | ||
| Q1 24 | — | 19.1% |
| Q4 25 | -84.7% | — | ||
| Q3 25 | -140.7% | -12.0% | ||
| Q2 25 | -189.8% | -9.1% | ||
| Q1 25 | -245.8% | -8.9% | ||
| Q4 24 | -117.5% | 3.7% | ||
| Q3 24 | -152.1% | 1.0% | ||
| Q2 24 | -327.6% | 3.5% | ||
| Q1 24 | -16464.6% | 1.9% |
| Q4 25 | — | — | ||
| Q3 25 | -135.3% | -11.0% | ||
| Q2 25 | -186.2% | -9.1% | ||
| Q1 25 | -235.5% | -7.0% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | -142.7% | -0.1% | ||
| Q2 24 | -312.2% | 3.6% | ||
| Q1 24 | -15800.8% | 1.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-0.33 | — | ||
| Q1 25 | $-0.36 | — | ||
| Q4 24 | $-0.24 | $0.06 | ||
| Q3 24 | $-0.28 | $-0.03 | ||
| Q2 24 | $-0.34 | $0.08 | ||
| Q1 24 | $-0.42 | $0.00 |
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 | $193.8M |
| Total DebtLower is stronger | — | $116.3M |
| Stockholders' EquityBook value | $698.6M | $526.9M |
| Total Assets | $913.2M | $849.7M |
| Debt / EquityLower = less leverage | — | 0.22× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.0M | — | ||
| Q3 25 | $300.8M | $193.8M | ||
| Q2 25 | $301.2M | $28.1M | ||
| Q1 25 | $359.7M | $43.5M | ||
| Q4 24 | $323.8M | $33.0M | ||
| Q3 24 | $397.5M | $22.9M | ||
| Q2 24 | $412.5M | $27.6M | ||
| Q1 24 | $356.2M | $30.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | $116.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $88.2M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $698.6M | — | ||
| Q3 25 | $702.3M | $526.9M | ||
| Q2 25 | $698.5M | $347.4M | ||
| Q1 25 | $767.9M | $355.2M | ||
| Q4 24 | $710.4M | $362.8M | ||
| Q3 24 | $773.5M | $361.8M | ||
| Q2 24 | $768.5M | $366.1M | ||
| Q1 24 | $680.0M | $372.3M |
| Q4 25 | $913.2M | — | ||
| Q3 25 | $904.9M | $849.7M | ||
| Q2 25 | $907.4M | $674.6M | ||
| Q1 25 | $966.7M | $685.7M | ||
| Q4 24 | $910.4M | $674.7M | ||
| Q3 24 | $991.1M | $645.4M | ||
| Q2 24 | $964.3M | $659.2M | ||
| Q1 24 | $869.8M | $674.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.22× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.24× | ||
| 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 | $-52.6M | $-1.4M |
| Free Cash FlowOCF − Capex | $-61.9M | $-17.5M |
| FCF MarginFCF / Revenue | -71.3% | -14.5% |
| Capex IntensityCapex / Revenue | 10.7% | 13.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | $-24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-52.6M | — | ||
| Q3 25 | $-78.7M | $-1.4M | ||
| Q2 25 | $-67.4M | $-4.3M | ||
| Q1 25 | $-103.7M | $26.0M | ||
| Q4 24 | $-73.3M | $15.7M | ||
| Q3 24 | $-59.0M | $37.4M | ||
| Q2 24 | $-98.4M | $34.4M | ||
| Q1 24 | $-122.3M | $25.2M |
| Q4 25 | $-61.9M | — | ||
| Q3 25 | $-89.5M | $-17.5M | ||
| Q2 25 | $-74.9M | $-19.8M | ||
| Q1 25 | $-109.9M | $7.6M | ||
| Q4 24 | $-77.5M | $5.1M | ||
| Q3 24 | $-61.3M | $25.6M | ||
| Q2 24 | $-98.9M | $20.3M | ||
| Q1 24 | $-126.5M | $6.5M |
| Q4 25 | -71.3% | — | ||
| Q3 25 | -132.7% | -14.5% | ||
| Q2 25 | -124.9% | -13.0% | ||
| Q1 25 | -222.8% | 5.6% | ||
| Q4 24 | -105.1% | 3.0% | ||
| Q3 24 | -104.6% | 15.3% | ||
| Q2 24 | -317.9% | 13.1% | ||
| Q1 24 | -17685.3% | 3.7% |
| Q4 25 | 10.7% | — | ||
| Q3 25 | 16.1% | 13.3% | ||
| Q2 25 | 12.4% | 10.2% | ||
| Q1 25 | 12.6% | 13.7% | ||
| Q4 24 | 5.7% | 6.2% | ||
| Q3 24 | 3.9% | 7.0% | ||
| Q2 24 | 1.4% | 9.1% | ||
| Q1 24 | 583.4% | 10.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.06× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 6.21× | ||
| Q1 24 | — | 12.40× |
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% |
METC
| Export Coal Revenues | $73.0M | 60% |
| Domestic Coal Revenues | $48.0M | 40% |
