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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and SHENANDOAH TELECOMMUNICATIONS CO (SHEN). Click either name above to swap in a different company.
SHENANDOAH TELECOMMUNICATIONS CO is the larger business by last-quarter revenue ($91.6M vs $86.8M, roughly 1.1× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 7.2%). IOVANCE BIOTHERAPEUTICS, INC. produced more free cash flow last quarter ($-61.9M vs $-78.6M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 15.0%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
Shenandoah Telecommunications Co is a U.S. regional telecom provider offering broadband internet, wireless voice/data services, digital cable TV, and fiber-optic solutions. It serves residential, small business and enterprise clients across Mid-Atlantic states, focusing on underserved rural and suburban markets in Virginia, West Virginia, Maryland and Pennsylvania.
IOVA vs SHEN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $91.6M |
| Net Profit | — | $-5.4M |
| Gross Margin | 67.4% | — |
| Operating Margin | -84.7% | -1.0% |
| Net Margin | — | -5.9% |
| Revenue YoY | 17.7% | 7.2% |
| Net Profit YoY | — | -95.8% |
| EPS (diluted) | — | $-0.13 |
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 | $91.6M | ||
| Q3 25 | $67.5M | $89.8M | ||
| Q2 25 | $60.0M | $88.6M | ||
| Q1 25 | $49.3M | $87.9M | ||
| Q4 24 | $73.7M | $85.4M | ||
| Q3 24 | $58.6M | $87.6M | ||
| Q2 24 | $31.1M | $85.8M | ||
| Q1 24 | $715.0K | $69.2M |
| Q4 25 | — | $-5.4M | ||
| Q3 25 | $-91.3M | $-9.4M | ||
| Q2 25 | $-111.7M | $-9.0M | ||
| Q1 25 | $-116.2M | $-9.1M | ||
| Q4 24 | — | $-2.7M | ||
| Q3 24 | $-83.5M | $-5.3M | ||
| Q2 24 | $-97.1M | $-12.9M | ||
| Q1 24 | $-113.0M | $214.7M |
| 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% | -1.0% | ||
| Q3 25 | -140.7% | -8.0% | ||
| Q2 25 | -189.8% | -10.3% | ||
| Q1 25 | -245.8% | -6.9% | ||
| Q4 24 | -117.5% | -6.7% | ||
| Q3 24 | -152.1% | -4.8% | ||
| Q2 24 | -327.6% | -18.5% | ||
| Q1 24 | -16464.6% | -4.0% |
| Q4 25 | — | -5.9% | ||
| Q3 25 | -135.3% | -10.5% | ||
| Q2 25 | -186.2% | -10.2% | ||
| Q1 25 | -235.5% | -10.4% | ||
| Q4 24 | — | -3.2% | ||
| Q3 24 | -142.7% | -6.0% | ||
| Q2 24 | -312.2% | -15.0% | ||
| Q1 24 | -15800.8% | 310.0% |
| Q4 25 | — | $-0.13 | ||
| Q3 25 | — | $-0.20 | ||
| Q2 25 | $-0.33 | $-0.19 | ||
| Q1 25 | $-0.36 | $-0.19 | ||
| Q4 24 | $-0.24 | $-0.34 | ||
| Q3 24 | $-0.28 | $-0.13 | ||
| Q2 24 | $-0.34 | $-0.24 | ||
| Q1 24 | $-0.42 | $4.25 |
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 | $27.3M |
| Total DebtLower is stronger | — | $642.4M |
| Stockholders' EquityBook value | $698.6M | $880.8M |
| Total Assets | $913.2M | $1.9B |
| Debt / EquityLower = less leverage | — | 0.73× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.0M | $27.3M | ||
| Q3 25 | $300.8M | $22.6M | ||
| Q2 25 | $301.2M | $29.1M | ||
| Q1 25 | $359.7M | $87.5M | ||
| Q4 24 | $323.8M | $46.3M | ||
| Q3 24 | $397.5M | $43.1M | ||
| Q2 24 | $412.5M | $43.8M | ||
| Q1 24 | $356.2M | $389.7M |
| Q4 25 | — | $642.4M | ||
| Q3 25 | — | $535.4M | ||
| Q2 25 | — | $513.1M | ||
| Q1 25 | — | $515.8M | ||
| Q4 24 | — | $418.0M | ||
| Q3 24 | — | $345.2M | ||
| Q2 24 | — | $297.4M | ||
| Q1 24 | — | $298.7M |
| Q4 25 | $698.6M | $880.8M | ||
| Q3 25 | $702.3M | $892.7M | ||
| Q2 25 | $698.5M | $902.0M | ||
| Q1 25 | $767.9M | $910.5M | ||
| Q4 24 | $710.4M | $918.6M | ||
| Q3 24 | $773.5M | $925.4M | ||
| Q2 24 | $768.5M | $933.1M | ||
| Q1 24 | $680.0M | $871.6M |
| Q4 25 | $913.2M | $1.9B | ||
| Q3 25 | $904.9M | $1.9B | ||
| Q2 25 | $907.4M | $1.8B | ||
| Q1 25 | $966.7M | $1.8B | ||
| Q4 24 | $910.4M | $1.7B | ||
| Q3 24 | $991.1M | $1.7B | ||
| Q2 24 | $964.3M | $1.7B | ||
| Q1 24 | $869.8M | $1.4B |
| Q4 25 | — | 0.73× | ||
| Q3 25 | — | 0.60× | ||
| Q2 25 | — | 0.57× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.46× | ||
| Q3 24 | — | 0.37× | ||
| Q2 24 | — | 0.32× | ||
| Q1 24 | — | 0.34× |
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 | $28.8M |
| Free Cash FlowOCF − Capex | $-61.9M | $-78.6M |
| FCF MarginFCF / Revenue | -71.3% | -85.8% |
| Capex IntensityCapex / Revenue | 10.7% | 117.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | $-257.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-52.6M | $28.8M | ||
| Q3 25 | $-78.7M | $30.7M | ||
| Q2 25 | $-67.4M | $20.9M | ||
| Q1 25 | $-103.7M | $20.5M | ||
| Q4 24 | $-73.3M | $20.6M | ||
| Q3 24 | $-59.0M | $24.3M | ||
| Q2 24 | $-98.4M | $2.5M | ||
| Q1 24 | $-122.3M | $15.2M |
| Q4 25 | $-61.9M | $-78.6M | ||
| Q3 25 | $-89.5M | $-51.4M | ||
| Q2 25 | $-74.9M | $-65.3M | ||
| Q1 25 | $-109.9M | $-62.7M | ||
| Q4 24 | $-77.5M | $-72.0M | ||
| Q3 24 | $-61.3M | $-51.3M | ||
| Q2 24 | $-98.9M | $-78.3M | ||
| Q1 24 | $-126.5M | $-54.9M |
| Q4 25 | -71.3% | -85.8% | ||
| Q3 25 | -132.7% | -57.2% | ||
| Q2 25 | -124.9% | -73.7% | ||
| Q1 25 | -222.8% | -71.3% | ||
| Q4 24 | -105.1% | -84.3% | ||
| Q3 24 | -104.6% | -58.5% | ||
| Q2 24 | -317.9% | -91.3% | ||
| Q1 24 | -17685.3% | -79.3% |
| Q4 25 | 10.7% | 117.2% | ||
| Q3 25 | 16.1% | 91.4% | ||
| Q2 25 | 12.4% | 97.3% | ||
| Q1 25 | 12.6% | 94.7% | ||
| Q4 24 | 5.7% | 108.4% | ||
| Q3 24 | 3.9% | 86.2% | ||
| Q2 24 | 1.4% | 94.2% | ||
| Q1 24 | 583.4% | 101.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.07× |
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% |
SHEN
| Residential And SMB Incumbent Broadband | $41.5M | 45% |
| Residential And SMB Glo Fiber Expansion Markets | $23.0M | 25% |
| Commercial Fiber | $20.3M | 22% |
| RLEC Other | $6.8M | 7% |
