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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and Ouster, Inc. (OUST). Click either name above to swap in a different company.
IOVANCE BIOTHERAPEUTICS, INC. is the larger business by last-quarter revenue ($86.8M vs $62.2M, roughly 1.4× Ouster, Inc.). On growth, Ouster, Inc. posted the faster year-over-year revenue change (106.6% vs 17.7%). Ouster, Inc. produced more free cash flow last quarter ($-37.2M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 54.8%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
Ouster, Inc. is an American lidar technology company headquartered in San Francisco, California. It builds high-resolution, digital 3D lidar sensors for use in autonomous vehicles, industrial, robotics, drones, mapping, defense, and security systems.
IOVA vs OUST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $62.2M |
| Net Profit | — | — |
| Gross Margin | 67.4% | 60.2% |
| Operating Margin | -84.7% | 1.5% |
| Net Margin | — | — |
| Revenue YoY | 17.7% | 106.6% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $0.10 |
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 | $62.2M | ||
| Q3 25 | $67.5M | $39.5M | ||
| Q2 25 | $60.0M | $35.0M | ||
| Q1 25 | $49.3M | $32.6M | ||
| Q4 24 | $73.7M | $30.1M | ||
| Q3 24 | $58.6M | $28.1M | ||
| Q2 24 | $31.1M | $27.0M | ||
| Q1 24 | $715.0K | $25.9M |
| Q4 25 | — | — | ||
| Q3 25 | $-91.3M | $-21.7M | ||
| Q2 25 | $-111.7M | $-20.6M | ||
| Q1 25 | $-116.2M | $-22.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-83.5M | $-25.6M | ||
| Q2 24 | $-97.1M | $-23.9M | ||
| Q1 24 | $-113.0M | $-23.8M |
| Q4 25 | 67.4% | 60.2% | ||
| Q3 25 | 43.0% | 42.1% | ||
| Q2 25 | 5.5% | 45.2% | ||
| Q1 25 | -0.8% | 41.3% | ||
| Q4 24 | 68.7% | 43.8% | ||
| Q3 24 | 46.2% | 38.3% | ||
| Q2 24 | -0.8% | 33.7% | ||
| Q1 24 | — | 28.6% |
| Q4 25 | -84.7% | 1.5% | ||
| Q3 25 | -140.7% | -61.4% | ||
| Q2 25 | -189.8% | -76.5% | ||
| Q1 25 | -245.8% | -73.0% | ||
| Q4 24 | -117.5% | -85.1% | ||
| Q3 24 | -152.1% | -98.0% | ||
| Q2 24 | -327.6% | -93.6% | ||
| Q1 24 | -16464.6% | -99.5% |
| Q4 25 | — | — | ||
| Q3 25 | -135.3% | -55.0% | ||
| Q2 25 | -186.2% | -58.8% | ||
| Q1 25 | -235.5% | -67.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | -142.7% | -91.1% | ||
| Q2 24 | -312.2% | -88.4% | ||
| Q1 24 | -15800.8% | -91.9% |
| Q4 25 | — | $0.10 | ||
| Q3 25 | — | $-0.37 | ||
| Q2 25 | $-0.33 | $-0.38 | ||
| Q1 25 | $-0.36 | $-0.42 | ||
| Q4 24 | $-0.24 | $-0.46 | ||
| Q3 24 | $-0.28 | $-0.54 | ||
| Q2 24 | $-0.34 | $-0.53 | ||
| Q1 24 | $-0.42 | $-0.55 |
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 | $208.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $698.6M | $261.7M |
| Total Assets | $913.2M | $349.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.0M | $208.6M | ||
| Q3 25 | $300.8M | $244.5M | ||
| Q2 25 | $301.2M | $226.5M | ||
| Q1 25 | $359.7M | $168.2M | ||
| Q4 24 | $323.8M | $172.0M | ||
| Q3 24 | $397.5M | $151.4M | ||
| Q2 24 | $412.5M | $184.2M | ||
| Q1 24 | $356.2M | $187.8M |
| Q4 25 | $698.6M | $261.7M | ||
| Q3 25 | $702.3M | $247.4M | ||
| Q2 25 | $698.5M | $221.0M | ||
| Q1 25 | $767.9M | $167.9M | ||
| Q4 24 | $710.4M | $180.9M | ||
| Q3 24 | $773.5M | $171.7M | ||
| Q2 24 | $768.5M | $170.6M | ||
| Q1 24 | $680.0M | $167.2M |
| Q4 25 | $913.2M | $349.5M | ||
| Q3 25 | $904.9M | $353.8M | ||
| Q2 25 | $907.4M | $321.8M | ||
| Q1 25 | $966.7M | $268.6M | ||
| Q4 24 | $910.4M | $276.1M | ||
| Q3 24 | $991.1M | $255.2M | ||
| Q2 24 | $964.3M | $309.9M | ||
| Q1 24 | $869.8M | $317.7M |
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 | $-15.4M |
| Free Cash FlowOCF − Capex | $-61.9M | $-37.2M |
| FCF MarginFCF / Revenue | -71.3% | -59.8% |
| Capex IntensityCapex / Revenue | 10.7% | 35.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | $-64.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-52.6M | $-15.4M | ||
| Q3 25 | $-78.7M | $-18.3M | ||
| Q2 25 | $-67.4M | $-1.3M | ||
| Q1 25 | $-103.7M | $-4.9M | ||
| Q4 24 | $-73.3M | $-2.6M | ||
| Q3 24 | $-59.0M | $-3.8M | ||
| Q2 24 | $-98.4M | $-21.6M | ||
| Q1 24 | $-122.3M | $-5.7M |
| Q4 25 | $-61.9M | $-37.2M | ||
| Q3 25 | $-89.5M | $-20.0M | ||
| Q2 25 | $-74.9M | $-2.2M | ||
| Q1 25 | $-109.9M | $-5.4M | ||
| Q4 24 | $-77.5M | $-4.0M | ||
| Q3 24 | $-61.3M | $-4.3M | ||
| Q2 24 | $-98.9M | $-22.0M | ||
| Q1 24 | $-126.5M | $-7.1M |
| Q4 25 | -71.3% | -59.8% | ||
| Q3 25 | -132.7% | -50.7% | ||
| Q2 25 | -124.9% | -6.3% | ||
| Q1 25 | -222.8% | -16.6% | ||
| Q4 24 | -105.1% | -13.3% | ||
| Q3 24 | -104.6% | -15.4% | ||
| Q2 24 | -317.9% | -81.5% | ||
| Q1 24 | -17685.3% | -27.4% |
| Q4 25 | 10.7% | 35.0% | ||
| Q3 25 | 16.1% | 4.3% | ||
| Q2 25 | 12.4% | 2.5% | ||
| Q1 25 | 12.6% | 1.7% | ||
| Q4 24 | 5.7% | 4.8% | ||
| Q3 24 | 3.9% | 2.0% | ||
| Q2 24 | 1.4% | 1.3% | ||
| Q1 24 | 583.4% | 5.3% |
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% |
OUST
Segment breakdown not available.
