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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and PennyMac Mortgage Investment Trust (PMT). Click either name above to swap in a different company.
PennyMac Mortgage Investment Trust is the larger business by last-quarter revenue ($93.6M 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 -13.3%). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 12.3%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
PennyMac Mortgage Investment Trust is a U.S.-headquartered real estate investment trust specializing in residential mortgage assets. It invests in performing and non-performing mortgage loans, mortgage-backed securities, and credit risk transfer instruments, operating across investment management and mortgage servicing segments in the U.S. housing market.
IOVA vs PMT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $93.6M |
| Net Profit | — | $52.4M |
| Gross Margin | 67.4% | — |
| Operating Margin | -84.7% | 38.6% |
| Net Margin | — | 56.0% |
| Revenue YoY | 17.7% | -13.3% |
| Net Profit YoY | — | 12.5% |
| EPS (diluted) | — | $0.49 |
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 | $93.6M | ||
| Q3 25 | $67.5M | $99.2M | ||
| Q2 25 | $60.0M | $70.2M | ||
| Q1 25 | $49.3M | $44.5M | ||
| Q4 24 | $73.7M | $107.9M | ||
| Q3 24 | $58.6M | $80.9M | ||
| Q2 24 | $31.1M | $71.2M | ||
| Q1 24 | $715.0K | $74.2M |
| Q4 25 | — | $52.4M | ||
| Q3 25 | $-91.3M | $58.3M | ||
| Q2 25 | $-111.7M | $7.5M | ||
| Q1 25 | $-116.2M | $9.7M | ||
| Q4 24 | — | $46.5M | ||
| Q3 24 | $-83.5M | $41.4M | ||
| Q2 24 | $-97.1M | $25.4M | ||
| Q1 24 | $-113.0M | $47.6M |
| 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 24 | — | — |
| Q4 25 | -84.7% | 38.6% | ||
| Q3 25 | -140.7% | 47.4% | ||
| Q2 25 | -189.8% | 24.2% | ||
| Q1 25 | -245.8% | -14.2% | ||
| Q4 24 | -117.5% | 51.1% | ||
| Q3 24 | -152.1% | 32.8% | ||
| Q2 24 | -327.6% | 40.2% | ||
| Q1 24 | -16464.6% | 43.6% |
| Q4 25 | — | 56.0% | ||
| Q3 25 | -135.3% | 58.7% | ||
| Q2 25 | -186.2% | 10.7% | ||
| Q1 25 | -235.5% | 21.8% | ||
| Q4 24 | — | 43.1% | ||
| Q3 24 | -142.7% | 51.2% | ||
| Q2 24 | -312.2% | 35.7% | ||
| Q1 24 | -15800.8% | 64.2% |
| Q4 25 | — | $0.49 | ||
| Q3 25 | — | $0.55 | ||
| Q2 25 | $-0.33 | $-0.04 | ||
| Q1 25 | $-0.36 | $-0.01 | ||
| Q4 24 | $-0.24 | $0.45 | ||
| Q3 24 | $-0.28 | $0.36 | ||
| Q2 24 | $-0.34 | $0.17 | ||
| Q1 24 | $-0.42 | $0.39 |
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 | $190.5M |
| Total DebtLower is stronger | — | $1.1B |
| Stockholders' EquityBook value | $698.6M | $1.9B |
| Total Assets | $913.2M | $21.3B |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.0M | $190.5M | ||
| Q3 25 | $300.8M | $181.0M | ||
| Q2 25 | $301.2M | $108.6M | ||
| Q1 25 | $359.7M | $204.2M | ||
| Q4 24 | $323.8M | $103.2M | ||
| Q3 24 | $397.5M | $102.8M | ||
| Q2 24 | $412.5M | $336.3M | ||
| Q1 24 | $356.2M | $343.3M |
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $299.0M | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $968.4M | ||
| Q4 24 | — | $1.0B | ||
| Q3 24 | — | $5.2B | ||
| Q2 24 | — | $5.4B | ||
| Q1 24 | — | $5.1B |
| Q4 25 | $698.6M | $1.9B | ||
| Q3 25 | $702.3M | $1.9B | ||
| Q2 25 | $698.5M | $1.9B | ||
| Q1 25 | $767.9M | $1.9B | ||
| Q4 24 | $710.4M | $1.9B | ||
| Q3 24 | $773.5M | $1.9B | ||
| Q2 24 | $768.5M | $1.9B | ||
| Q1 24 | $680.0M | $2.0B |
| Q4 25 | $913.2M | $21.3B | ||
| Q3 25 | $904.9M | $18.5B | ||
| Q2 25 | $907.4M | $16.8B | ||
| Q1 25 | $966.7M | $14.9B | ||
| Q4 24 | $910.4M | $14.4B | ||
| Q3 24 | $991.1M | $13.1B | ||
| Q2 24 | $964.3M | $12.1B | ||
| Q1 24 | $869.8M | $12.3B |
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.65× | ||
| Q1 25 | — | 0.51× | ||
| Q4 24 | — | 0.52× | ||
| Q3 24 | — | 2.70× | ||
| Q2 24 | — | 2.76× | ||
| Q1 24 | — | 2.60× |
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 | $-7.2B |
| Free Cash FlowOCF − Capex | $-61.9M | — |
| FCF MarginFCF / Revenue | -71.3% | — |
| Capex IntensityCapex / Revenue | 10.7% | — |
| Cash ConversionOCF / Net Profit | — | -137.76× |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-52.6M | $-7.2B | ||
| Q3 25 | $-78.7M | $-1.3B | ||
| Q2 25 | $-67.4M | $-2.0B | ||
| Q1 25 | $-103.7M | $-594.3M | ||
| Q4 24 | $-73.3M | $-2.7B | ||
| Q3 24 | $-59.0M | $-983.8M | ||
| Q2 24 | $-98.4M | $243.8M | ||
| Q1 24 | $-122.3M | $-342.4M |
| 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 | — | -137.76× | ||
| Q3 25 | — | -22.26× | ||
| Q2 25 | — | -267.53× | ||
| Q1 25 | — | -61.39× | ||
| Q4 24 | — | -58.08× | ||
| Q3 24 | — | -23.76× | ||
| Q2 24 | — | 9.59× | ||
| Q1 24 | — | -7.19× |
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% |
PMT
| Other | $55.0M | 59% |
| Interest Rate Sensitive Strategies | $31.4M | 34% |
| Correspondent Production | $7.2M | 8% |
