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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and Nutex Health, Inc. (NUTX). Click either name above to swap in a different company.
Nutex Health, Inc. is the larger business by last-quarter revenue ($151.7M vs $86.8M, roughly 1.7× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs -41.1%). Nutex Health, Inc. produced more free cash flow last quarter ($69.0M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 50.0%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
Nutex Health Inc. is an American for-profit health care company and operator of healthcare facilities headquartered in Houston, Texas.
IOVA vs NUTX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $151.7M |
| Net Profit | — | $11.8M |
| Gross Margin | 67.4% | 30.4% |
| Operating Margin | -84.7% | 20.4% |
| Net Margin | — | 7.8% |
| Revenue YoY | 17.7% | -41.1% |
| Net Profit YoY | — | -80.8% |
| EPS (diluted) | — | $2.34 |
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 | $151.7M | ||
| Q3 25 | $67.5M | $267.8M | ||
| Q2 25 | $60.0M | $244.0M | ||
| Q1 25 | $49.3M | $211.8M | ||
| Q4 24 | $73.7M | $257.6M | ||
| Q3 24 | $58.6M | $78.8M | ||
| Q2 24 | $31.1M | $76.1M | ||
| Q1 24 | $715.0K | $67.5M |
| Q4 25 | — | $11.8M | ||
| Q3 25 | $-91.3M | $55.4M | ||
| Q2 25 | $-111.7M | $-17.7M | ||
| Q1 25 | $-116.2M | $21.2M | ||
| Q4 24 | — | $61.6M | ||
| Q3 24 | $-83.5M | $-8.8M | ||
| Q2 24 | $-97.1M | $-364.0K | ||
| Q1 24 | $-113.0M | $-364.0K |
| Q4 25 | 67.4% | 30.4% | ||
| Q3 25 | 43.0% | 57.8% | ||
| Q2 25 | 5.5% | 51.2% | ||
| Q1 25 | -0.8% | 55.9% | ||
| Q4 24 | 68.7% | 55.0% | ||
| Q3 24 | 46.2% | 27.8% | ||
| Q2 24 | -0.8% | 29.7% | ||
| Q1 24 | — | 15.1% |
| Q4 25 | -84.7% | 20.4% | ||
| Q3 25 | -140.7% | 48.7% | ||
| Q2 25 | -189.8% | 13.8% | ||
| Q1 25 | -245.8% | 38.1% | ||
| Q4 24 | -117.5% | 44.4% | ||
| Q3 24 | -152.1% | 12.3% | ||
| Q2 24 | -327.6% | 7.0% | ||
| Q1 24 | -16464.6% | 2.1% |
| Q4 25 | — | 7.8% | ||
| Q3 25 | -135.3% | 20.7% | ||
| Q2 25 | -186.2% | -7.3% | ||
| Q1 25 | -235.5% | 10.0% | ||
| Q4 24 | — | 23.9% | ||
| Q3 24 | -142.7% | -11.2% | ||
| Q2 24 | -312.2% | -0.5% | ||
| Q1 24 | -15800.8% | -0.5% |
| Q4 25 | — | $2.34 | ||
| Q3 25 | — | $7.76 | ||
| Q2 25 | $-0.33 | $-2.95 | ||
| Q1 25 | $-0.36 | $3.33 | ||
| Q4 24 | $-0.24 | $11.56 | ||
| Q3 24 | $-0.28 | $-1.72 | ||
| Q2 24 | $-0.34 | $-0.07 | ||
| Q1 24 | $-0.42 | $-0.08 |
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 | $185.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $698.6M | $329.4M |
| Total Assets | $913.2M | $918.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.0M | $185.6M | ||
| Q3 25 | $300.8M | $166.0M | ||
| Q2 25 | $301.2M | $96.7M | ||
| Q1 25 | $359.7M | $84.7M | ||
| Q4 24 | $323.8M | $40.6M | ||
| Q3 24 | $397.5M | $46.9M | ||
| Q2 24 | $412.5M | $40.8M | ||
| Q1 24 | $356.2M | $30.0M |
| Q4 25 | $698.6M | $329.4M | ||
| Q3 25 | $702.3M | $317.2M | ||
| Q2 25 | $698.5M | $235.3M | ||
| Q1 25 | $767.9M | $176.9M | ||
| Q4 24 | $710.4M | $132.4M | ||
| Q3 24 | $773.5M | $60.4M | ||
| Q2 24 | $768.5M | $62.7M | ||
| Q1 24 | $680.0M | $63.0M |
| Q4 25 | $913.2M | $918.5M | ||
| Q3 25 | $904.9M | $964.5M | ||
| Q2 25 | $907.4M | $841.0M | ||
| Q1 25 | $966.7M | $761.9M | ||
| Q4 24 | $910.4M | $655.3M | ||
| Q3 24 | $991.1M | $438.5M | ||
| Q2 24 | $964.3M | $422.4M | ||
| Q1 24 | $869.8M | $404.3M |
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 | $70.4M |
| Free Cash FlowOCF − Capex | $-61.9M | $69.0M |
| FCF MarginFCF / Revenue | -71.3% | 45.5% |
| Capex IntensityCapex / Revenue | 10.7% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 5.95× |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | $245.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-52.6M | $70.4M | ||
| Q3 25 | $-78.7M | $99.5M | ||
| Q2 25 | $-67.4M | $27.3M | ||
| Q1 25 | $-103.7M | $51.0M | ||
| Q4 24 | $-73.3M | $54.0K | ||
| Q3 24 | $-59.0M | $6.8M | ||
| Q2 24 | $-98.4M | $13.3M | ||
| Q1 24 | $-122.3M | $3.1M |
| Q4 25 | $-61.9M | $69.0M | ||
| Q3 25 | $-89.5M | $99.2M | ||
| Q2 25 | $-74.9M | $26.5M | ||
| Q1 25 | $-109.9M | $50.9M | ||
| Q4 24 | $-77.5M | $-341.0K | ||
| Q3 24 | $-61.3M | $6.2M | ||
| Q2 24 | $-98.9M | $12.7M | ||
| Q1 24 | $-126.5M | $2.3M |
| Q4 25 | -71.3% | 45.5% | ||
| Q3 25 | -132.7% | 37.0% | ||
| Q2 25 | -124.9% | 10.9% | ||
| Q1 25 | -222.8% | 24.0% | ||
| Q4 24 | -105.1% | -0.1% | ||
| Q3 24 | -104.6% | 7.8% | ||
| Q2 24 | -317.9% | 16.7% | ||
| Q1 24 | -17685.3% | 3.4% |
| Q4 25 | 10.7% | 0.9% | ||
| Q3 25 | 16.1% | 0.1% | ||
| Q2 25 | 12.4% | 0.3% | ||
| Q1 25 | 12.6% | 0.0% | ||
| Q4 24 | 5.7% | 0.2% | ||
| Q3 24 | 3.9% | 0.8% | ||
| Q2 24 | 1.4% | 0.7% | ||
| Q1 24 | 583.4% | 1.1% |
| Q4 25 | — | 5.95× | ||
| Q3 25 | — | 1.80× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 2.40× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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% |
NUTX
| Hospital Division | $143.7M | 95% |
| Population Health Management Division | $8.0M | 5% |
