vs
Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and SMITH & WESSON BRANDS, INC. (SWBI). Click either name above to swap in a different company.
SMITH & WESSON BRANDS, INC. is the larger business by last-quarter revenue ($124.7M vs $86.8M, roughly 1.4× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs -3.9%). SMITH & WESSON BRANDS, INC. produced more free cash flow last quarter ($16.3M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs -4.8%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
Smith & Wesson Brands, Inc. (S&W) is an American firearm manufacturer headquartered in Maryville, Tennessee, United States.
IOVA vs SWBI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $124.7M |
| Net Profit | — | $1.9M |
| Gross Margin | 67.4% | 24.3% |
| Operating Margin | -84.7% | 3.3% |
| Net Margin | — | 1.5% |
| Revenue YoY | 17.7% | -3.9% |
| Net Profit YoY | — | -53.6% |
| EPS (diluted) | — | $0.04 |
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 | $124.7M | ||
| Q3 25 | $67.5M | $85.1M | ||
| Q2 25 | $60.0M | $140.8M | ||
| Q1 25 | $49.3M | $115.9M | ||
| Q4 24 | $73.7M | $129.7M | ||
| Q3 24 | $58.6M | $88.3M | ||
| Q2 24 | $31.1M | $159.1M | ||
| Q1 24 | $715.0K | $137.5M |
| Q4 25 | — | $1.9M | ||
| Q3 25 | $-91.3M | $-3.4M | ||
| Q2 25 | $-111.7M | $8.6M | ||
| Q1 25 | $-116.2M | $2.1M | ||
| Q4 24 | — | $4.5M | ||
| Q3 24 | $-83.5M | $-1.9M | ||
| Q2 24 | $-97.1M | $27.9M | ||
| Q1 24 | $-113.0M | $7.9M |
| Q4 25 | 67.4% | 24.3% | ||
| Q3 25 | 43.0% | 25.9% | ||
| Q2 25 | 5.5% | 28.8% | ||
| Q1 25 | -0.8% | 24.1% | ||
| Q4 24 | 68.7% | 26.6% | ||
| Q3 24 | 46.2% | 27.4% | ||
| Q2 24 | -0.8% | 35.5% | ||
| Q1 24 | — | 28.7% |
| Q4 25 | -84.7% | 3.3% | ||
| Q3 25 | -140.7% | -3.5% | ||
| Q2 25 | -189.8% | 9.3% | ||
| Q1 25 | -245.8% | 4.1% | ||
| Q4 24 | -117.5% | 5.8% | ||
| Q3 24 | -152.1% | -1.7% | ||
| Q2 24 | -327.6% | 17.4% | ||
| Q1 24 | -16464.6% | 8.2% |
| Q4 25 | — | 1.5% | ||
| Q3 25 | -135.3% | -4.0% | ||
| Q2 25 | -186.2% | 6.1% | ||
| Q1 25 | -235.5% | 1.8% | ||
| Q4 24 | — | 3.5% | ||
| Q3 24 | -142.7% | -2.1% | ||
| Q2 24 | -312.2% | 17.5% | ||
| Q1 24 | -15800.8% | 5.7% |
| Q4 25 | — | $0.04 | ||
| Q3 25 | — | $-0.08 | ||
| Q2 25 | $-0.33 | $0.19 | ||
| Q1 25 | $-0.36 | $0.05 | ||
| Q4 24 | $-0.24 | $0.10 | ||
| Q3 24 | $-0.28 | $-0.04 | ||
| Q2 24 | $-0.34 | $0.60 | ||
| Q1 24 | $-0.42 | $0.17 |
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 | $22.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $698.6M | $363.2M |
| Total Assets | $913.2M | $548.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.0M | $22.4M | ||
| Q3 25 | $300.8M | $18.0M | ||
| Q2 25 | $301.2M | $25.2M | ||
| Q1 25 | $359.7M | $26.7M | ||
| Q4 24 | $323.8M | $39.1M | ||
| Q3 24 | $397.5M | $35.5M | ||
| Q2 24 | $412.5M | $60.8M | ||
| Q1 24 | $356.2M | $47.4M |
| Q4 25 | $698.6M | $363.2M | ||
| Q3 25 | $702.3M | $364.4M | ||
| Q2 25 | $698.5M | $372.5M | ||
| Q1 25 | $767.9M | $366.9M | ||
| Q4 24 | $710.4M | $371.5M | ||
| Q3 24 | $773.5M | $380.0M | ||
| Q2 24 | $768.5M | $399.9M | ||
| Q1 24 | $680.0M | $376.4M |
| Q4 25 | $913.2M | $548.6M | ||
| Q3 25 | $904.9M | $554.6M | ||
| Q2 25 | $907.4M | $559.6M | ||
| Q1 25 | $966.7M | $578.9M | ||
| Q4 24 | $910.4M | $587.4M | ||
| Q3 24 | $991.1M | $571.3M | ||
| Q2 24 | $964.3M | $577.4M | ||
| Q1 24 | $869.8M | $570.6M |
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 | $27.3M |
| Free Cash FlowOCF − Capex | $-61.9M | $16.3M |
| FCF MarginFCF / Revenue | -71.3% | 13.1% |
| Capex IntensityCapex / Revenue | 10.7% | 8.8% |
| Cash ConversionOCF / Net Profit | — | 14.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | $21.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-52.6M | $27.3M | ||
| Q3 25 | $-78.7M | $-8.1M | ||
| Q2 25 | $-67.4M | $40.8M | ||
| Q1 25 | $-103.7M | $-9.8M | ||
| Q4 24 | $-73.3M | $-7.4M | ||
| Q3 24 | $-59.0M | $-30.8M | ||
| Q2 24 | $-98.4M | $43.7M | ||
| Q1 24 | $-122.3M | $25.2M |
| Q4 25 | $-61.9M | $16.3M | ||
| Q3 25 | $-89.5M | $-12.4M | ||
| Q2 25 | $-74.9M | $33.5M | ||
| Q1 25 | $-109.9M | $-16.1M | ||
| Q4 24 | $-77.5M | $-10.7M | ||
| Q3 24 | $-61.3M | $-35.5M | ||
| Q2 24 | $-98.9M | $38.2M | ||
| Q1 24 | $-126.5M | $7.0M |
| Q4 25 | -71.3% | 13.1% | ||
| Q3 25 | -132.7% | -14.6% | ||
| Q2 25 | -124.9% | 23.8% | ||
| Q1 25 | -222.8% | -13.9% | ||
| Q4 24 | -105.1% | -8.3% | ||
| Q3 24 | -104.6% | -40.2% | ||
| Q2 24 | -317.9% | 24.0% | ||
| Q1 24 | -17685.3% | 5.1% |
| Q4 25 | 10.7% | 8.8% | ||
| Q3 25 | 16.1% | 5.0% | ||
| Q2 25 | 12.4% | 5.2% | ||
| Q1 25 | 12.6% | 5.4% | ||
| Q4 24 | 5.7% | 2.5% | ||
| Q3 24 | 3.9% | 5.3% | ||
| Q2 24 | 1.4% | 3.5% | ||
| Q1 24 | 583.4% | 13.2% |
| Q4 25 | — | 14.22× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.73× | ||
| Q1 25 | — | -4.68× | ||
| Q4 24 | — | -1.63× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.57× | ||
| Q1 24 | — | 3.20× |
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% |
SWBI
Segment breakdown not available.
