vs
Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $86.8M, roughly 1.2× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 14.5%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs -4.9%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
IOVA vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $100.0M |
| Net Profit | — | $-7.0M |
| Gross Margin | 67.4% | 28.0% |
| Operating Margin | -84.7% | -10.7% |
| Net Margin | — | -7.0% |
| Revenue YoY | 17.7% | 14.5% |
| Net Profit YoY | — | 76.0% |
| EPS (diluted) | — | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $67.5M | $161.9M | ||
| Q2 25 | $60.0M | $172.6M | ||
| Q1 25 | $49.3M | $111.4M | ||
| Q4 24 | $73.7M | $87.3M | ||
| Q3 24 | $58.6M | $150.5M | ||
| Q2 24 | $31.1M | $160.1M | ||
| Q1 24 | $715.0K | $110.6M |
| Q4 25 | — | $-7.0M | ||
| Q3 25 | $-91.3M | $8.1M | ||
| Q2 25 | $-111.7M | $16.0M | ||
| Q1 25 | $-116.2M | $-6.0M | ||
| Q4 24 | — | $-29.2M | ||
| Q3 24 | $-83.5M | $5.9M | ||
| Q2 24 | $-97.1M | $13.3M | ||
| Q1 24 | $-113.0M | $-7.9M |
| Q4 25 | 67.4% | 28.0% | ||
| Q3 25 | 43.0% | 35.4% | ||
| Q2 25 | 5.5% | 37.1% | ||
| Q1 25 | -0.8% | 29.5% | ||
| Q4 24 | 68.7% | 24.6% | ||
| Q3 24 | 46.2% | 32.4% | ||
| Q2 24 | -0.8% | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | -84.7% | -10.7% | ||
| Q3 25 | -140.7% | 13.3% | ||
| Q2 25 | -189.8% | 14.3% | ||
| Q1 25 | -245.8% | -4.4% | ||
| Q4 24 | -117.5% | -14.9% | ||
| Q3 24 | -152.1% | 8.9% | ||
| Q2 24 | -327.6% | 12.5% | ||
| Q1 24 | -16464.6% | -1.9% |
| Q4 25 | — | -7.0% | ||
| Q3 25 | -135.3% | 5.0% | ||
| Q2 25 | -186.2% | 9.3% | ||
| Q1 25 | -235.5% | -5.4% | ||
| Q4 24 | — | -33.4% | ||
| Q3 24 | -142.7% | 3.9% | ||
| Q2 24 | -312.2% | 8.3% | ||
| Q1 24 | -15800.8% | -7.1% |
| Q4 25 | — | $-0.06 | ||
| Q3 25 | — | $0.07 | ||
| Q2 25 | $-0.33 | $0.13 | ||
| Q1 25 | $-0.36 | $-0.05 | ||
| Q4 24 | $-0.24 | $-0.24 | ||
| Q3 24 | $-0.28 | $0.05 | ||
| Q2 24 | $-0.34 | $0.11 | ||
| Q1 24 | $-0.42 | $-0.07 |
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 | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $698.6M | $405.9M |
| Total Assets | $913.2M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.0M | — | ||
| Q3 25 | $300.8M | — | ||
| Q2 25 | $301.2M | — | ||
| Q1 25 | $359.7M | — | ||
| Q4 24 | $323.8M | — | ||
| Q3 24 | $397.5M | — | ||
| Q2 24 | $412.5M | — | ||
| Q1 24 | $356.2M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $698.6M | $405.9M | ||
| Q3 25 | $702.3M | $408.4M | ||
| Q2 25 | $698.5M | $398.4M | ||
| Q1 25 | $767.9M | $381.1M | ||
| Q4 24 | $710.4M | $387.2M | ||
| Q3 24 | $773.5M | $416.6M | ||
| Q2 24 | $768.5M | $408.1M | ||
| Q1 24 | $680.0M | $391.8M |
| Q4 25 | $913.2M | $823.2M | ||
| Q3 25 | $904.9M | $844.4M | ||
| Q2 25 | $907.4M | $822.1M | ||
| Q1 25 | $966.7M | $824.6M | ||
| Q4 24 | $910.4M | $794.2M | ||
| Q3 24 | $991.1M | $853.4M | ||
| Q2 24 | $964.3M | $830.0M | ||
| Q1 24 | $869.8M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $-61.9M | $14.1M |
| FCF MarginFCF / Revenue | -71.3% | 14.1% |
| Capex IntensityCapex / Revenue | 10.7% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-52.6M | $23.3M | ||
| Q3 25 | $-78.7M | $51.0M | ||
| Q2 25 | $-67.4M | $36.0M | ||
| Q1 25 | $-103.7M | $-46.9M | ||
| Q4 24 | $-73.3M | $6.2M | ||
| Q3 24 | $-59.0M | $37.2M | ||
| Q2 24 | $-98.4M | $52.4M | ||
| Q1 24 | $-122.3M | $-34.5M |
| Q4 25 | $-61.9M | $14.1M | ||
| Q3 25 | $-89.5M | $45.2M | ||
| Q2 25 | $-74.9M | $29.1M | ||
| Q1 25 | $-109.9M | $-50.3M | ||
| Q4 24 | $-77.5M | $-98.0K | ||
| Q3 24 | $-61.3M | $33.2M | ||
| Q2 24 | $-98.9M | $47.9M | ||
| Q1 24 | $-126.5M | $-39.9M |
| Q4 25 | -71.3% | 14.1% | ||
| Q3 25 | -132.7% | 27.9% | ||
| Q2 25 | -124.9% | 16.8% | ||
| Q1 25 | -222.8% | -45.2% | ||
| Q4 24 | -105.1% | -0.1% | ||
| Q3 24 | -104.6% | 22.1% | ||
| Q2 24 | -317.9% | 29.9% | ||
| Q1 24 | -17685.3% | -36.0% |
| Q4 25 | 10.7% | 9.2% | ||
| Q3 25 | 16.1% | 3.6% | ||
| Q2 25 | 12.4% | 4.0% | ||
| Q1 25 | 12.6% | 3.1% | ||
| Q4 24 | 5.7% | 7.2% | ||
| Q3 24 | 3.9% | 2.7% | ||
| Q2 24 | 1.4% | 2.8% | ||
| Q1 24 | 583.4% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| 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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
