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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and NETSTREIT Corp. (NTST). Click either name above to swap in a different company.
IOVANCE BIOTHERAPEUTICS, INC. is the larger business by last-quarter revenue ($86.8M vs $57.1M, roughly 1.5× NETSTREIT Corp.). On growth, NETSTREIT Corp. posted the faster year-over-year revenue change (24.3% vs 17.7%). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 20.1%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
IOVA vs NTST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $57.1M |
| Net Profit | — | $5.7M |
| Gross Margin | 67.4% | — |
| Operating Margin | -84.7% | 34.1% |
| Net Margin | — | 10.0% |
| Revenue YoY | 17.7% | 24.3% |
| Net Profit YoY | — | 235.9% |
| EPS (diluted) | — | $0.32 |
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 | — | $57.1M | ||
| Q4 25 | $86.8M | $52.5M | ||
| Q3 25 | $67.5M | $48.3M | ||
| Q2 25 | $60.0M | $48.3M | ||
| Q1 25 | $49.3M | $45.9M | ||
| Q4 24 | $73.7M | $44.1M | ||
| Q3 24 | $58.6M | $41.4M | ||
| Q2 24 | $31.1M | $39.6M |
| Q1 26 | — | $5.7M | ||
| Q4 25 | — | $1.3M | ||
| Q3 25 | $-91.3M | $618.0K | ||
| Q2 25 | $-111.7M | $3.3M | ||
| Q1 25 | $-116.2M | $1.7M | ||
| Q4 24 | — | $-5.4M | ||
| Q3 24 | $-83.5M | $-5.3M | ||
| Q2 24 | $-97.1M | $-2.3M |
| 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 | — | 34.1% | ||
| Q4 25 | -84.7% | 2.6% | ||
| Q3 25 | -140.7% | 1.3% | ||
| Q2 25 | -189.8% | 6.8% | ||
| Q1 25 | -245.8% | 3.7% | ||
| Q4 24 | -117.5% | -12.3% | ||
| Q3 24 | -152.1% | -12.8% | ||
| Q2 24 | -327.6% | -5.8% |
| Q1 26 | — | 10.0% | ||
| Q4 25 | — | 2.5% | ||
| Q3 25 | -135.3% | 1.3% | ||
| Q2 25 | -186.2% | 6.8% | ||
| Q1 25 | -235.5% | 3.7% | ||
| Q4 24 | — | -12.3% | ||
| Q3 24 | -142.7% | -12.8% | ||
| Q2 24 | -312.2% | -5.8% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | — | $0.01 | ||
| Q3 25 | — | $0.01 | ||
| Q2 25 | $-0.33 | $0.04 | ||
| Q1 25 | $-0.36 | $0.02 | ||
| Q4 24 | $-0.24 | $-0.07 | ||
| Q3 24 | $-0.28 | $-0.07 | ||
| Q2 24 | $-0.34 | $-0.03 |
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 | — | — |
| Stockholders' EquityBook value | $698.6M | $1.5B |
| Total Assets | $913.2M | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $926.6M | ||
| Q1 25 | — | $913.3M | ||
| Q4 24 | — | $868.3M | ||
| Q3 24 | — | $778.7M | ||
| Q2 24 | — | $726.2M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $698.6M | $1.4B | ||
| Q3 25 | $702.3M | $1.3B | ||
| Q2 25 | $698.5M | $1.3B | ||
| Q1 25 | $767.9M | $1.3B | ||
| Q4 24 | $710.4M | $1.3B | ||
| Q3 24 | $773.5M | $1.3B | ||
| Q2 24 | $768.5M | $1.3B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $913.2M | $2.6B | ||
| Q3 25 | $904.9M | $2.5B | ||
| Q2 25 | $907.4M | $2.3B | ||
| Q1 25 | $966.7M | $2.3B | ||
| Q4 24 | $910.4M | $2.3B | ||
| Q3 24 | $991.1M | $2.2B | ||
| Q2 24 | $964.3M | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.84× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.55× |
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 | $109.5M | ||
| Q3 25 | $-78.7M | $28.0M | ||
| Q2 25 | $-67.4M | $30.6M | ||
| Q1 25 | $-103.7M | $22.1M | ||
| Q4 24 | $-73.3M | $90.2M | ||
| Q3 24 | $-59.0M | $25.1M | ||
| Q2 24 | $-98.4M | $25.4M |
| 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 | — | 82.46× | ||
| Q3 25 | — | 45.27× | ||
| Q2 25 | — | 9.36× | ||
| Q1 25 | — | 13.06× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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% |
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
