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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and OneSpan Inc. (OSPN). Click either name above to swap in a different company.
IOVANCE BIOTHERAPEUTICS, INC. is the larger business by last-quarter revenue ($86.8M vs $65.9M, roughly 1.3× OneSpan Inc.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 4.1%). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 4.0%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
OneSpan Inc. is an information security company based in Boston, Massachusetts. Services include an internet fraud prevention platform, multi-factor authentication tools and electronic signature software.
IOVA vs OSPN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $65.9M |
| Net Profit | — | $11.6M |
| Gross Margin | 67.4% | 73.6% |
| Operating Margin | -84.7% | 22.5% |
| Net Margin | — | 17.5% |
| Revenue YoY | 17.7% | 4.1% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $0.39 |
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 | — | $65.9M | ||
| Q4 25 | $86.8M | $62.9M | ||
| Q3 25 | $67.5M | $57.1M | ||
| Q2 25 | $60.0M | $59.8M | ||
| Q1 25 | $49.3M | $63.4M | ||
| Q4 24 | $73.7M | $61.2M | ||
| Q3 24 | $58.6M | $56.2M | ||
| Q2 24 | $31.1M | $60.9M |
| Q1 26 | — | $11.6M | ||
| Q4 25 | — | $43.5M | ||
| Q3 25 | $-91.3M | $6.5M | ||
| Q2 25 | $-111.7M | $8.3M | ||
| Q1 25 | $-116.2M | $14.5M | ||
| Q4 24 | — | $28.8M | ||
| Q3 24 | $-83.5M | $8.3M | ||
| Q2 24 | $-97.1M | $6.6M |
| Q1 26 | — | 73.6% | ||
| Q4 25 | 67.4% | 73.6% | ||
| Q3 25 | 43.0% | 73.6% | ||
| Q2 25 | 5.5% | 73.5% | ||
| Q1 25 | -0.8% | 74.3% | ||
| Q4 24 | 68.7% | 74.0% | ||
| Q3 24 | 46.2% | 73.9% | ||
| Q2 24 | -0.8% | 66.2% |
| Q1 26 | — | 22.5% | ||
| Q4 25 | -84.7% | 19.9% | ||
| Q3 25 | -140.7% | 14.4% | ||
| Q2 25 | -189.8% | 17.6% | ||
| Q1 25 | -245.8% | 27.1% | ||
| Q4 24 | -117.5% | 19.3% | ||
| Q3 24 | -152.1% | 20.0% | ||
| Q2 24 | -327.6% | 12.5% |
| Q1 26 | — | 17.5% | ||
| Q4 25 | — | 69.2% | ||
| Q3 25 | -135.3% | 11.4% | ||
| Q2 25 | -186.2% | 13.9% | ||
| Q1 25 | -235.5% | 22.9% | ||
| Q4 24 | — | 47.1% | ||
| Q3 24 | -142.7% | 14.7% | ||
| Q2 24 | -312.2% | 10.8% |
| Q1 26 | — | $0.39 | ||
| Q4 25 | — | $1.13 | ||
| Q3 25 | — | $0.17 | ||
| Q2 25 | $-0.33 | $0.21 | ||
| Q1 25 | $-0.36 | $0.37 | ||
| Q4 24 | $-0.24 | $0.73 | ||
| Q3 24 | $-0.28 | $0.21 | ||
| Q2 24 | $-0.34 | $0.17 |
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 | $49.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $698.6M | $272.0M |
| Total Assets | $913.2M | $383.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $49.8M | ||
| Q4 25 | $297.0M | $70.5M | ||
| Q3 25 | $300.8M | $85.6M | ||
| Q2 25 | $301.2M | $92.9M | ||
| Q1 25 | $359.7M | $105.2M | ||
| Q4 24 | $323.8M | $83.2M | ||
| Q3 24 | $397.5M | $77.5M | ||
| Q2 24 | $412.5M | $63.8M |
| Q1 26 | — | $272.0M | ||
| Q4 25 | $698.6M | $271.8M | ||
| Q3 25 | $702.3M | $238.3M | ||
| Q2 25 | $698.5M | $242.5M | ||
| Q1 25 | $767.9M | $231.1M | ||
| Q4 24 | $710.4M | $212.5M | ||
| Q3 24 | $773.5M | $194.6M | ||
| Q2 24 | $768.5M | $178.6M |
| Q1 26 | — | $383.1M | ||
| Q4 25 | $913.2M | $397.7M | ||
| Q3 25 | $904.9M | $343.5M | ||
| Q2 25 | $907.4M | $357.1M | ||
| Q1 25 | $966.7M | $333.8M | ||
| Q4 24 | $910.4M | $338.7M | ||
| Q3 24 | $991.1M | $289.3M | ||
| Q2 24 | $964.3M | $286.9M |
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 | $28.2M |
| Free Cash FlowOCF − Capex | $-61.9M | — |
| FCF MarginFCF / Revenue | -71.3% | — |
| Capex IntensityCapex / Revenue | 10.7% | — |
| Cash ConversionOCF / Net Profit | — | 2.44× |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $28.2M | ||
| Q4 25 | $-52.6M | $12.6M | ||
| Q3 25 | $-78.7M | $11.3M | ||
| Q2 25 | $-67.4M | $6.2M | ||
| Q1 25 | $-103.7M | $29.4M | ||
| Q4 24 | $-73.3M | $12.4M | ||
| Q3 24 | $-59.0M | $14.0M | ||
| Q2 24 | $-98.4M | $2.3M |
| Q1 26 | — | — | ||
| Q4 25 | $-61.9M | $9.6M | ||
| Q3 25 | $-89.5M | $8.8M | ||
| Q2 25 | $-74.9M | $4.4M | ||
| Q1 25 | $-109.9M | $27.7M | ||
| Q4 24 | $-77.5M | $10.5M | ||
| Q3 24 | $-61.3M | $12.0M | ||
| Q2 24 | $-98.9M | $26.0K |
| Q1 26 | — | — | ||
| Q4 25 | -71.3% | 15.3% | ||
| Q3 25 | -132.7% | 15.4% | ||
| Q2 25 | -124.9% | 7.3% | ||
| Q1 25 | -222.8% | 43.8% | ||
| Q4 24 | -105.1% | 17.1% | ||
| Q3 24 | -104.6% | 21.4% | ||
| Q2 24 | -317.9% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | 10.7% | 4.7% | ||
| Q3 25 | 16.1% | 4.4% | ||
| Q2 25 | 12.4% | 3.1% | ||
| Q1 25 | 12.6% | 2.6% | ||
| Q4 24 | 5.7% | 3.2% | ||
| Q3 24 | 3.9% | 3.5% | ||
| Q2 24 | 1.4% | 3.7% |
| Q1 26 | — | 2.44× | ||
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 1.74× | ||
| Q2 25 | — | 0.75× | ||
| Q1 25 | — | 2.02× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 1.69× | ||
| Q2 24 | — | 0.35× |
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% |
OSPN
| Product and license | $35.5M | 54% |
| Services and other | $30.4M | 46% |
