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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
Purple Innovation, Inc. is the larger business by last-quarter revenue ($140.7M vs $86.8M, roughly 1.6× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 9.1%). Purple Innovation, Inc. produced more free cash flow last quarter ($-7.8M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 8.3%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
IOVA vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $140.7M |
| Net Profit | — | $-3.2M |
| Gross Margin | 67.4% | 41.9% |
| Operating Margin | -84.7% | -1.6% |
| Net Margin | — | -2.3% |
| Revenue YoY | 17.7% | 9.1% |
| Net Profit YoY | — | 62.1% |
| EPS (diluted) | — | $0.03 |
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 | $140.7M | ||
| Q3 25 | $67.5M | $118.8M | ||
| Q2 25 | $60.0M | $105.1M | ||
| Q1 25 | $49.3M | $104.2M | ||
| Q4 24 | $73.7M | $129.0M | ||
| Q3 24 | $58.6M | $118.6M | ||
| Q2 24 | $31.1M | $120.3M | ||
| Q1 24 | $715.0K | $120.0M |
| Q4 25 | — | $-3.2M | ||
| Q3 25 | $-91.3M | $-11.7M | ||
| Q2 25 | $-111.7M | $-17.3M | ||
| Q1 25 | $-116.2M | $-19.1M | ||
| Q4 24 | — | $-8.5M | ||
| Q3 24 | $-83.5M | $-39.2M | ||
| Q2 24 | $-97.1M | $27.0K | ||
| Q1 24 | $-113.0M | $-50.2M |
| Q4 25 | 67.4% | 41.9% | ||
| Q3 25 | 43.0% | 42.8% | ||
| Q2 25 | 5.5% | 35.9% | ||
| Q1 25 | -0.8% | 39.4% | ||
| Q4 24 | 68.7% | 42.9% | ||
| Q3 24 | 46.2% | 29.7% | ||
| Q2 24 | -0.8% | 40.7% | ||
| Q1 24 | — | 34.8% |
| Q4 25 | -84.7% | -1.6% | ||
| Q3 25 | -140.7% | -10.2% | ||
| Q2 25 | -189.8% | -13.5% | ||
| Q1 25 | -245.8% | -13.9% | ||
| Q4 24 | -117.5% | -6.0% | ||
| Q3 24 | -152.1% | -39.5% | ||
| Q2 24 | -327.6% | -12.1% | ||
| Q1 24 | -16464.6% | -19.3% |
| Q4 25 | — | -2.3% | ||
| Q3 25 | -135.3% | -9.9% | ||
| Q2 25 | -186.2% | -16.5% | ||
| Q1 25 | -235.5% | -18.4% | ||
| Q4 24 | — | -6.6% | ||
| Q3 24 | -142.7% | -33.1% | ||
| Q2 24 | -312.2% | 0.0% | ||
| Q1 24 | -15800.8% | -41.8% |
| Q4 25 | — | $0.03 | ||
| Q3 25 | — | $0.11 | ||
| Q2 25 | $-0.33 | $0.16 | ||
| Q1 25 | $-0.36 | $0.18 | ||
| Q4 24 | $-0.24 | $0.08 | ||
| Q3 24 | $-0.28 | $0.36 | ||
| Q2 24 | $-0.34 | $0.00 | ||
| Q1 24 | $-0.42 | $0.47 |
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 | $24.3M |
| Total DebtLower is stronger | — | $126.7M |
| Stockholders' EquityBook value | $698.6M | $-29.7M |
| Total Assets | $913.2M | $296.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.0M | $24.3M | ||
| Q3 25 | $300.8M | $32.4M | ||
| Q2 25 | $301.2M | $34.2M | ||
| Q1 25 | $359.7M | $21.6M | ||
| Q4 24 | $323.8M | $29.0M | ||
| Q3 24 | $397.5M | $23.4M | ||
| Q2 24 | $412.5M | $23.4M | ||
| Q1 24 | $356.2M | $34.5M |
| Q4 25 | — | $126.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $70.7M | ||
| Q3 24 | — | $50.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $698.6M | $-29.7M | ||
| Q3 25 | $702.3M | $-26.9M | ||
| Q2 25 | $698.5M | $-15.6M | ||
| Q1 25 | $767.9M | $1.3M | ||
| Q4 24 | $710.4M | $20.2M | ||
| Q3 24 | $773.5M | $28.0M | ||
| Q2 24 | $768.5M | $66.4M | ||
| Q1 24 | $680.0M | $65.5M |
| Q4 25 | $913.2M | $296.3M | ||
| Q3 25 | $904.9M | $302.1M | ||
| Q2 25 | $907.4M | $303.8M | ||
| Q1 25 | $966.7M | $293.8M | ||
| Q4 24 | $910.4M | $307.8M | ||
| Q3 24 | $991.1M | $309.3M | ||
| Q2 24 | $964.3M | $362.1M | ||
| Q1 24 | $869.8M | $382.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.50× | ||
| Q3 24 | — | 1.82× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-5.8M |
| Free Cash FlowOCF − Capex | $-61.9M | $-7.8M |
| FCF MarginFCF / Revenue | -71.3% | -5.5% |
| Capex IntensityCapex / Revenue | 10.7% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-52.6M | $-5.8M | ||
| Q3 25 | $-78.7M | $-968.0K | ||
| Q2 25 | $-67.4M | $-4.0M | ||
| Q1 25 | $-103.7M | $-23.1M | ||
| Q4 24 | $-73.3M | $6.8M | ||
| Q3 24 | $-59.0M | $1.1M | ||
| Q2 24 | $-98.4M | $-8.9M | ||
| Q1 24 | $-122.3M | $-16.8M |
| Q4 25 | $-61.9M | $-7.8M | ||
| Q3 25 | $-89.5M | $-1.8M | ||
| Q2 25 | $-74.9M | $-7.0M | ||
| Q1 25 | $-109.9M | $-25.3M | ||
| Q4 24 | $-77.5M | $5.7M | ||
| Q3 24 | $-61.3M | $101.0K | ||
| Q2 24 | $-98.9M | $-11.0M | ||
| Q1 24 | $-126.5M | $-19.9M |
| Q4 25 | -71.3% | -5.5% | ||
| Q3 25 | -132.7% | -1.5% | ||
| Q2 25 | -124.9% | -6.6% | ||
| Q1 25 | -222.8% | -24.3% | ||
| Q4 24 | -105.1% | 4.4% | ||
| Q3 24 | -104.6% | 0.1% | ||
| Q2 24 | -317.9% | -9.2% | ||
| Q1 24 | -17685.3% | -16.5% |
| Q4 25 | 10.7% | 1.4% | ||
| Q3 25 | 16.1% | 0.7% | ||
| Q2 25 | 12.4% | 2.8% | ||
| Q1 25 | 12.6% | 2.2% | ||
| Q4 24 | 5.7% | 0.8% | ||
| Q3 24 | 3.9% | 0.9% | ||
| Q2 24 | 1.4% | 1.7% | ||
| Q1 24 | 583.4% | 2.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -330.22× | ||
| 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% |
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
