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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and UNITED STATES LIME & MINERALS INC (USLM). Click either name above to swap in a different company.

UNITED STATES LIME & MINERALS INC is the larger business by last-quarter revenue ($87.9M vs $86.8M, roughly 1.0× IOVANCE BIOTHERAPEUTICS, INC.). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 9.8%). UNITED STATES LIME & MINERALS INC produced more free cash flow last quarter ($25.7M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 10.8%).

Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.

United States Lime & Minerals Inc is a leading US-based natural resources enterprise that produces high-calcium lime, dolomitic lime, limestone and related mineral products. Its core client segments cover infrastructure construction, steel manufacturing, agricultural soil amendment, environmental emission control and industrial processing, serving customers across North America.

IOVA vs USLM — Head-to-Head

Bigger by revenue
USLM
USLM
1.0× larger
USLM
$87.9M
$86.8M
IOVA
Growing faster (revenue YoY)
IOVA
IOVA
+7.9% gap
IOVA
17.7%
9.8%
USLM
More free cash flow
USLM
USLM
$87.5M more FCF
USLM
$25.7M
$-61.9M
IOVA
Faster 2-yr revenue CAGR
IOVA
IOVA
Annualised
IOVA
1001.6%
10.8%
USLM

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IOVA
IOVA
USLM
USLM
Revenue
$86.8M
$87.9M
Net Profit
$30.5M
Gross Margin
67.4%
48.0%
Operating Margin
-84.7%
41.0%
Net Margin
34.7%
Revenue YoY
17.7%
9.8%
Net Profit YoY
13.2%
EPS (diluted)
$1.06

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.

Revenue
IOVA
IOVA
USLM
USLM
Q4 25
$86.8M
$87.9M
Q3 25
$67.5M
$102.0M
Q2 25
$60.0M
$91.5M
Q1 25
$49.3M
$91.3M
Q4 24
$73.7M
$80.1M
Q3 24
$58.6M
$89.4M
Q2 24
$31.1M
$76.5M
Q1 24
$715.0K
$71.7M
Net Profit
IOVA
IOVA
USLM
USLM
Q4 25
$30.5M
Q3 25
$-91.3M
$38.8M
Q2 25
$-111.7M
$30.8M
Q1 25
$-116.2M
$34.1M
Q4 24
$27.0M
Q3 24
$-83.5M
$33.4M
Q2 24
$-97.1M
$26.1M
Q1 24
$-113.0M
$22.4M
Gross Margin
IOVA
IOVA
USLM
USLM
Q4 25
67.4%
48.0%
Q3 25
43.0%
51.2%
Q2 25
5.5%
45.8%
Q1 25
-0.8%
50.6%
Q4 24
68.7%
44.3%
Q3 24
46.2%
48.2%
Q2 24
-0.8%
45.5%
Q1 24
42.7%
Operating Margin
IOVA
IOVA
USLM
USLM
Q4 25
-84.7%
41.0%
Q3 25
-140.7%
45.3%
Q2 25
-189.8%
39.0%
Q1 25
-245.8%
43.7%
Q4 24
-117.5%
38.8%
Q3 24
-152.1%
42.6%
Q2 24
-327.6%
39.1%
Q1 24
-16464.6%
35.9%
Net Margin
IOVA
IOVA
USLM
USLM
Q4 25
34.7%
Q3 25
-135.3%
38.0%
Q2 25
-186.2%
33.7%
Q1 25
-235.5%
37.4%
Q4 24
33.7%
Q3 24
-142.7%
37.3%
Q2 24
-312.2%
34.0%
Q1 24
-15800.8%
31.3%
EPS (diluted)
IOVA
IOVA
USLM
USLM
Q4 25
$1.06
Q3 25
$1.35
Q2 25
$-0.33
$1.07
Q1 25
$-0.36
$1.19
Q4 24
$-0.24
$-2.20
Q3 24
$-0.28
$1.16
Q2 24
$-0.34
$0.91
Q1 24
$-0.42
$3.92

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
IOVA
IOVA
USLM
USLM
Cash + ST InvestmentsLiquidity on hand
$297.0M
$371.1M
Total DebtLower is stronger
$0
Stockholders' EquityBook value
$698.6M
$630.8M
Total Assets
$913.2M
$681.0M
Debt / EquityLower = less leverage
0.00×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IOVA
IOVA
USLM
USLM
Q4 25
$297.0M
$371.1M
Q3 25
$300.8M
$349.5M
Q2 25
$301.2M
$319.9M
Q1 25
$359.7M
$300.6M
Q4 24
$323.8M
$278.0M
Q3 24
$397.5M
$255.0M
Q2 24
$412.5M
$222.5M
Q1 24
$356.2M
$207.0M
Total Debt
IOVA
IOVA
USLM
USLM
Q4 25
$0
Q3 25
$0
Q2 25
$0
Q1 25
$0
Q4 24
$0
Q3 24
$0
Q2 24
$0
Q1 24
$0
Stockholders' Equity
IOVA
IOVA
USLM
USLM
Q4 25
$698.6M
$630.8M
Q3 25
$702.3M
$602.3M
Q2 25
$698.5M
$563.3M
Q1 25
$767.9M
$532.2M
Q4 24
$710.4M
$497.7M
Q3 24
$773.5M
$474.2M
Q2 24
$768.5M
$441.1M
Q1 24
$680.0M
$415.3M
Total Assets
IOVA
IOVA
USLM
USLM
Q4 25
$913.2M
$681.0M
Q3 25
$904.9M
$652.8M
Q2 25
$907.4M
$607.4M
Q1 25
$966.7M
$585.3M
Q4 24
$910.4M
$543.2M
Q3 24
$991.1M
$521.8M
Q2 24
$964.3M
$484.2M
Q1 24
$869.8M
$464.0M
Debt / Equity
IOVA
IOVA
USLM
USLM
Q4 25
0.00×
Q3 25
0.00×
Q2 25
0.00×
Q1 25
0.00×
Q4 24
0.00×
Q3 24
0.00×
Q2 24
0.00×
Q1 24
0.00×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
IOVA
IOVA
USLM
USLM
Operating Cash FlowLast quarter
$-52.6M
$45.6M
Free Cash FlowOCF − Capex
$-61.9M
$25.7M
FCF MarginFCF / Revenue
-71.3%
29.2%
Capex IntensityCapex / Revenue
10.7%
22.6%
Cash ConversionOCF / Net Profit
1.49×
TTM Free Cash FlowTrailing 4 quarters
$-336.2M
$102.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IOVA
IOVA
USLM
USLM
Q4 25
$-52.6M
$45.6M
Q3 25
$-78.7M
$45.9M
Q2 25
$-67.4M
$34.0M
Q1 25
$-103.7M
$39.4M
Q4 24
$-73.3M
$38.6M
Q3 24
$-59.0M
$39.0M
Q2 24
$-98.4M
$21.2M
Q1 24
$-122.3M
$27.2M
Free Cash Flow
IOVA
IOVA
USLM
USLM
Q4 25
$-61.9M
$25.7M
Q3 25
$-89.5M
$31.3M
Q2 25
$-74.9M
$20.8M
Q1 25
$-109.9M
$24.6M
Q4 24
$-77.5M
$27.6M
Q3 24
$-61.3M
$33.9M
Q2 24
$-98.9M
$16.8M
Q1 24
$-126.5M
$20.3M
FCF Margin
IOVA
IOVA
USLM
USLM
Q4 25
-71.3%
29.2%
Q3 25
-132.7%
30.7%
Q2 25
-124.9%
22.7%
Q1 25
-222.8%
26.9%
Q4 24
-105.1%
34.4%
Q3 24
-104.6%
37.9%
Q2 24
-317.9%
21.9%
Q1 24
-17685.3%
28.4%
Capex Intensity
IOVA
IOVA
USLM
USLM
Q4 25
10.7%
22.6%
Q3 25
16.1%
14.4%
Q2 25
12.4%
14.5%
Q1 25
12.6%
16.3%
Q4 24
5.7%
13.8%
Q3 24
3.9%
5.8%
Q2 24
1.4%
5.7%
Q1 24
583.4%
9.5%
Cash Conversion
IOVA
IOVA
USLM
USLM
Q4 25
1.49×
Q3 25
1.18×
Q2 25
1.10×
Q1 25
1.16×
Q4 24
1.43×
Q3 24
1.17×
Q2 24
0.81×
Q1 24
1.21×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

IOVA
IOVA

Amtagvi$64.9M75%
Proleukin$21.9M25%

USLM
USLM

Segment breakdown not available.

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