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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and NICOLET BANKSHARES INC (NIC). Click either name above to swap in a different company.
NICOLET BANKSHARES INC is the larger business by last-quarter revenue ($104.0M vs $86.8M, roughly 1.2× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 12.5%). NICOLET BANKSHARES INC produced more free cash flow last quarter ($149.4M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 12.5%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
Nicolet Bankshares, Inc. is a U.S. regional bank holding company based in Green Bay, Wisconsin. They are the parent company of Nicolet National Bank, the second largest Wisconsin-based bank.
IOVA vs NIC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $104.0M |
| Net Profit | — | $40.3M |
| Gross Margin | 67.4% | — |
| Operating Margin | -84.7% | 48.3% |
| Net Margin | — | 38.8% |
| Revenue YoY | 17.7% | 12.5% |
| Net Profit YoY | — | 16.9% |
| EPS (diluted) | — | $2.63 |
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 | $104.0M | ||
| Q3 25 | $67.5M | $102.9M | ||
| Q2 25 | $60.0M | $95.7M | ||
| Q1 25 | $49.3M | $89.4M | ||
| Q4 24 | $73.7M | $92.4M | ||
| Q3 24 | $58.6M | $90.7M | ||
| Q2 24 | $31.1M | $85.0M | ||
| Q1 24 | $715.0K | $82.2M |
| Q4 25 | — | $40.3M | ||
| Q3 25 | $-91.3M | $41.7M | ||
| Q2 25 | $-111.7M | $36.0M | ||
| Q1 25 | $-116.2M | $32.6M | ||
| Q4 24 | — | $34.5M | ||
| Q3 24 | $-83.5M | $32.5M | ||
| Q2 24 | $-97.1M | $29.3M | ||
| Q1 24 | $-113.0M | $27.8M |
| 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% | 48.3% | ||
| Q3 25 | -140.7% | 50.4% | ||
| Q2 25 | -189.8% | 46.8% | ||
| Q1 25 | -245.8% | 44.9% | ||
| Q4 24 | -117.5% | 46.8% | ||
| Q3 24 | -152.1% | 45.0% | ||
| Q2 24 | -327.6% | 43.3% | ||
| Q1 24 | -16464.6% | 41.8% |
| Q4 25 | — | 38.8% | ||
| Q3 25 | -135.3% | 40.6% | ||
| Q2 25 | -186.2% | 37.6% | ||
| Q1 25 | -235.5% | 36.4% | ||
| Q4 24 | — | 37.3% | ||
| Q3 24 | -142.7% | 35.8% | ||
| Q2 24 | -312.2% | 34.5% | ||
| Q1 24 | -15800.8% | 33.8% |
| Q4 25 | — | $2.63 | ||
| Q3 25 | — | $2.73 | ||
| Q2 25 | $-0.33 | $2.34 | ||
| Q1 25 | $-0.36 | $2.08 | ||
| Q4 24 | $-0.24 | $2.21 | ||
| Q3 24 | $-0.28 | $2.10 | ||
| Q2 24 | $-0.34 | $1.92 | ||
| Q1 24 | $-0.42 | $1.82 |
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 | — |
| Total DebtLower is stronger | — | $134.9M |
| Stockholders' EquityBook value | $698.6M | $1.3B |
| Total Assets | $913.2M | $9.2B |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.0M | — | ||
| Q3 25 | $300.8M | — | ||
| Q2 25 | $301.2M | — | ||
| Q1 25 | $359.7M | — | ||
| Q4 24 | $323.8M | — | ||
| Q3 24 | $397.5M | — | ||
| Q2 24 | $412.5M | — | ||
| Q1 24 | $356.2M | — |
| Q4 25 | — | $134.9M | ||
| Q3 25 | — | $134.6M | ||
| Q2 25 | — | $134.3M | ||
| Q1 25 | — | $156.6M | ||
| Q4 24 | — | $161.4M | ||
| Q3 24 | — | $161.2M | ||
| Q2 24 | — | $162.4M | ||
| Q1 24 | — | $162.3M |
| Q4 25 | $698.6M | $1.3B | ||
| Q3 25 | $702.3M | $1.2B | ||
| Q2 25 | $698.5M | $1.2B | ||
| Q1 25 | $767.9M | $1.2B | ||
| Q4 24 | $710.4M | $1.2B | ||
| Q3 24 | $773.5M | $1.1B | ||
| Q2 24 | $768.5M | $1.1B | ||
| Q1 24 | $680.0M | $1.1B |
| Q4 25 | $913.2M | $9.2B | ||
| Q3 25 | $904.9M | $9.0B | ||
| Q2 25 | $907.4M | $8.9B | ||
| Q1 25 | $966.7M | $9.0B | ||
| Q4 24 | $910.4M | $8.8B | ||
| Q3 24 | $991.1M | $8.6B | ||
| Q2 24 | $964.3M | $8.6B | ||
| Q1 24 | $869.8M | $8.4B |
| Q4 25 | — | 0.11× | ||
| Q3 25 | — | 0.11× | ||
| Q2 25 | — | 0.11× | ||
| Q1 25 | — | 0.13× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.14× | ||
| Q2 24 | — | 0.15× | ||
| Q1 24 | — | 0.15× |
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 | $153.5M |
| Free Cash FlowOCF − Capex | $-61.9M | $149.4M |
| FCF MarginFCF / Revenue | -71.3% | 143.7% |
| Capex IntensityCapex / Revenue | 10.7% | 3.9% |
| Cash ConversionOCF / Net Profit | — | 3.81× |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | $275.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-52.6M | $153.5M | ||
| Q3 25 | $-78.7M | $45.9M | ||
| Q2 25 | $-67.4M | $38.9M | ||
| Q1 25 | $-103.7M | $41.8M | ||
| Q4 24 | $-73.3M | $133.7M | ||
| Q3 24 | $-59.0M | $39.6M | ||
| Q2 24 | $-98.4M | $37.3M | ||
| Q1 24 | $-122.3M | $23.4M |
| Q4 25 | $-61.9M | $149.4M | ||
| Q3 25 | $-89.5M | $45.9M | ||
| Q2 25 | $-74.9M | $38.4M | ||
| Q1 25 | $-109.9M | $41.3M | ||
| Q4 24 | $-77.5M | $116.8M | ||
| Q3 24 | $-61.3M | $34.7M | ||
| Q2 24 | $-98.9M | $34.4M | ||
| Q1 24 | $-126.5M | $20.1M |
| Q4 25 | -71.3% | 143.7% | ||
| Q3 25 | -132.7% | 44.6% | ||
| Q2 25 | -124.9% | 40.1% | ||
| Q1 25 | -222.8% | 46.2% | ||
| Q4 24 | -105.1% | 126.4% | ||
| Q3 24 | -104.6% | 38.3% | ||
| Q2 24 | -317.9% | 40.5% | ||
| Q1 24 | -17685.3% | 24.4% |
| Q4 25 | 10.7% | 3.9% | ||
| Q3 25 | 16.1% | 0.0% | ||
| Q2 25 | 12.4% | 0.6% | ||
| Q1 25 | 12.6% | 0.5% | ||
| Q4 24 | 5.7% | 18.3% | ||
| Q3 24 | 3.9% | 5.4% | ||
| Q2 24 | 1.4% | 3.5% | ||
| Q1 24 | 583.4% | 4.0% |
| Q4 25 | — | 3.81× | ||
| Q3 25 | — | 1.10× | ||
| Q2 25 | — | 1.08× | ||
| Q1 25 | — | 1.28× | ||
| Q4 24 | — | 3.88× | ||
| Q3 24 | — | 1.22× | ||
| Q2 24 | — | 1.28× | ||
| Q1 24 | — | 0.84× |
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% |
NIC
Segment breakdown not available.
