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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and Ranpak Holdings Corp. (PACK). Click either name above to swap in a different company.
Ranpak Holdings Corp. is the larger business by last-quarter revenue ($93.7M vs $86.8M, roughly 1.1× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 2.3%). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 13.7%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
Ranpak Holdings Corp. manufactures machines and paper products used in protective paper-based packing for shipping goods and merchandise for e-commerce and industry, along with automation solutions. The company is based in Concord, Ohio, and has production facilities and offices in Reno, Nevada; Kansas City, Missouri; the Netherlands; Czech Republic; Shanghai and Singapore. The paper packaging material can be used for multiple applications like wrapping, cushioning, void fill and cold chain p...
IOVA vs PACK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $93.7M |
| Net Profit | — | — |
| Gross Margin | 67.4% | 39.0% |
| Operating Margin | -84.7% | -1.0% |
| Net Margin | — | — |
| Revenue YoY | 17.7% | 2.3% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $-0.11 |
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 | $93.7M | ||
| Q3 25 | $67.5M | $83.6M | ||
| Q2 25 | $60.0M | $77.8M | ||
| Q1 25 | $49.3M | $77.6M | ||
| Q4 24 | $73.7M | $91.6M | ||
| Q3 24 | $58.6M | $78.6M | ||
| Q2 24 | $31.1M | $72.8M | ||
| Q1 24 | $715.0K | $72.5M |
| Q4 25 | — | — | ||
| Q3 25 | $-91.3M | $-10.4M | ||
| Q2 25 | $-111.7M | $-7.5M | ||
| Q1 25 | $-116.2M | $-10.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-83.5M | $-8.1M | ||
| Q2 24 | $-97.1M | $5.5M | ||
| Q1 24 | $-113.0M | $-8.1M |
| Q4 25 | 67.4% | 39.0% | ||
| Q3 25 | 43.0% | 41.1% | ||
| Q2 25 | 5.5% | 37.1% | ||
| Q1 25 | -0.8% | 39.8% | ||
| Q4 24 | 68.7% | 45.2% | ||
| Q3 24 | 46.2% | 43.8% | ||
| Q2 24 | -0.8% | 43.5% | ||
| Q1 24 | — | 44.6% |
| Q4 25 | -84.7% | -1.0% | ||
| Q3 25 | -140.7% | -6.8% | ||
| Q2 25 | -189.8% | -12.5% | ||
| Q1 25 | -245.8% | -10.3% | ||
| Q4 24 | -117.5% | 1.5% | ||
| Q3 24 | -152.1% | -5.3% | ||
| Q2 24 | -327.6% | -7.1% | ||
| Q1 24 | -16464.6% | -6.6% |
| Q4 25 | — | — | ||
| Q3 25 | -135.3% | -12.4% | ||
| Q2 25 | -186.2% | -9.6% | ||
| Q1 25 | -235.5% | -14.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | -142.7% | -10.3% | ||
| Q2 24 | -312.2% | 7.6% | ||
| Q1 24 | -15800.8% | -11.2% |
| Q4 25 | — | $-0.11 | ||
| Q3 25 | — | $-0.12 | ||
| Q2 25 | $-0.33 | $-0.09 | ||
| Q1 25 | $-0.36 | $-0.13 | ||
| Q4 24 | $-0.24 | $-0.13 | ||
| Q3 24 | $-0.28 | $-0.10 | ||
| Q2 24 | $-0.34 | $0.07 | ||
| Q1 24 | $-0.42 | $-0.10 |
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 | $63.0M |
| Total DebtLower is stronger | — | $401.9M |
| Stockholders' EquityBook value | $698.6M | $534.9M |
| Total Assets | $913.2M | $1.1B |
| Debt / EquityLower = less leverage | — | 0.75× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.0M | $63.0M | ||
| Q3 25 | $300.8M | $49.9M | ||
| Q2 25 | $301.2M | $49.2M | ||
| Q1 25 | $359.7M | $65.5M | ||
| Q4 24 | $323.8M | $76.1M | ||
| Q3 24 | $397.5M | $69.5M | ||
| Q2 24 | $412.5M | $65.1M | ||
| Q1 24 | $356.2M | $55.1M |
| Q4 25 | — | $401.9M | ||
| Q3 25 | — | $403.1M | ||
| Q2 25 | — | $403.1M | ||
| Q1 25 | — | $405.2M | ||
| Q4 24 | — | $406.4M | ||
| Q3 24 | — | $403.2M | ||
| Q2 24 | — | $396.1M | ||
| Q1 24 | — | $396.7M |
| Q4 25 | $698.6M | $534.9M | ||
| Q3 25 | $702.3M | $537.8M | ||
| Q2 25 | $698.5M | $539.0M | ||
| Q1 25 | $767.9M | $544.1M | ||
| Q4 24 | $710.4M | $548.1M | ||
| Q3 24 | $773.5M | $564.3M | ||
| Q2 24 | $768.5M | $566.2M | ||
| Q1 24 | $680.0M | $560.0M |
| Q4 25 | $913.2M | $1.1B | ||
| Q3 25 | $904.9M | $1.1B | ||
| Q2 25 | $907.4M | $1.1B | ||
| Q1 25 | $966.7M | $1.1B | ||
| Q4 24 | $910.4M | $1.1B | ||
| Q3 24 | $991.1M | $1.1B | ||
| Q2 24 | $964.3M | $1.1B | ||
| Q1 24 | $869.8M | $1.1B |
| Q4 25 | — | 0.75× | ||
| Q3 25 | — | 0.75× | ||
| Q2 25 | — | 0.75× | ||
| Q1 25 | — | 0.74× | ||
| Q4 24 | — | 0.74× | ||
| Q3 24 | — | 0.71× | ||
| Q2 24 | — | 0.70× | ||
| Q1 24 | — | 0.71× |
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 | $19.5M |
| 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.
| Q4 25 | $-52.6M | $19.5M | ||
| Q3 25 | $-78.7M | $8.5M | ||
| Q2 25 | $-67.4M | $-3.6M | ||
| Q1 25 | $-103.7M | $-1.3M | ||
| Q4 24 | $-73.3M | $6.5M | ||
| Q3 24 | $-59.0M | $10.1M | ||
| Q2 24 | $-98.4M | $19.6M | ||
| Q1 24 | $-122.3M | $5.2M |
| 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 24 | $-126.5M | — |
| 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 24 | -17685.3% | — |
| 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 24 | 583.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.56× | ||
| 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% |
PACK
| Other | $47.9M | 51% |
| Europe And Asia Segment | $45.8M | 49% |
