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Side-by-side financial comparison of IOVANCE BIOTHERAPEUTICS, INC. (IOVA) and Whitestone REIT (WSR). Click either name above to swap in a different company.
IOVANCE BIOTHERAPEUTICS, INC. is the larger business by last-quarter revenue ($86.8M vs $43.9M, roughly 2.0× Whitestone REIT). On growth, IOVANCE BIOTHERAPEUTICS, INC. posted the faster year-over-year revenue change (17.7% vs 7.5%). Whitestone REIT produced more free cash flow last quarter ($50.5M vs $-61.9M). Over the past eight quarters, IOVANCE BIOTHERAPEUTICS, INC.'s revenue compounded faster (1001.6% CAGR vs 8.7%).
Iovance Biotherapeutics, Inc. is a biopharmaceutical startup based in San Carlos, California. The company works to develop tumor-infiltrating lymphocyte (TIL) therapies against cancer.
Whitestone REIT is a publicly traded real estate investment trust that acquires, owns, manages and redevelops open-air community shopping centers, primarily located in high-growth metropolitan areas across the southwestern and southeastern United States. Its property portfolio is largely anchored by daily necessity, service-focused retail tenants that cater to regular local consumer demand.
IOVA vs WSR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $86.8M | $43.9M |
| Net Profit | — | $22.8M |
| Gross Margin | 67.4% | — |
| Operating Margin | -84.7% | 53.0% |
| Net Margin | — | 52.0% |
| Revenue YoY | 17.7% | 7.5% |
| Net Profit YoY | — | 31.7% |
| EPS (diluted) | — | $0.43 |
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 | $43.9M | ||
| Q3 25 | $67.5M | $41.0M | ||
| Q2 25 | $60.0M | $37.9M | ||
| Q1 25 | $49.3M | $38.0M | ||
| Q4 24 | $73.7M | $40.8M | ||
| Q3 24 | $58.6M | $38.6M | ||
| Q2 24 | $31.1M | $37.6M | ||
| Q1 24 | $715.0K | $37.2M |
| Q4 25 | — | $22.8M | ||
| Q3 25 | $-91.3M | $18.3M | ||
| Q2 25 | $-111.7M | $5.1M | ||
| Q1 25 | $-116.2M | $3.7M | ||
| Q4 24 | — | $17.3M | ||
| Q3 24 | $-83.5M | $7.6M | ||
| Q2 24 | $-97.1M | $2.6M | ||
| Q1 24 | $-113.0M | $9.3M |
| 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% | 53.0% | ||
| Q3 25 | -140.7% | 45.5% | ||
| Q2 25 | -189.8% | 13.8% | ||
| Q1 25 | -245.8% | 10.2% | ||
| Q4 24 | -117.5% | 43.3% | ||
| Q3 24 | -152.1% | 20.3% | ||
| Q2 24 | -327.6% | 7.2% | ||
| Q1 24 | -16464.6% | 25.9% |
| Q4 25 | — | 52.0% | ||
| Q3 25 | -135.3% | 44.7% | ||
| Q2 25 | -186.2% | 13.3% | ||
| Q1 25 | -235.5% | 9.7% | ||
| Q4 24 | — | 42.5% | ||
| Q3 24 | -142.7% | 19.7% | ||
| Q2 24 | -312.2% | 6.9% | ||
| Q1 24 | -15800.8% | 25.1% |
| Q4 25 | — | $0.43 | ||
| Q3 25 | — | $0.35 | ||
| Q2 25 | $-0.33 | $0.10 | ||
| Q1 25 | $-0.36 | $0.07 | ||
| Q4 24 | $-0.24 | $0.34 | ||
| Q3 24 | $-0.28 | $0.15 | ||
| Q2 24 | $-0.34 | $0.05 | ||
| Q1 24 | $-0.42 | $0.18 |
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 | $4.9M |
| Total DebtLower is stronger | — | $649.4M |
| Stockholders' EquityBook value | $698.6M | $458.1M |
| Total Assets | $913.2M | $1.2B |
| Debt / EquityLower = less leverage | — | 1.42× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $297.0M | $4.9M | ||
| Q3 25 | $300.8M | $6.8M | ||
| Q2 25 | $301.2M | $5.3M | ||
| Q1 25 | $359.7M | $5.6M | ||
| Q4 24 | $323.8M | $5.2M | ||
| Q3 24 | $397.5M | $2.5M | ||
| Q2 24 | $412.5M | $3.2M | ||
| Q1 24 | $356.2M | $6.2M |
| Q4 25 | — | $649.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $632.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $698.6M | $458.1M | ||
| Q3 25 | $702.3M | $439.5M | ||
| Q2 25 | $698.5M | $427.5M | ||
| Q1 25 | $767.9M | $431.0M | ||
| Q4 24 | $710.4M | $438.2M | ||
| Q3 24 | $773.5M | $419.5M | ||
| Q2 24 | $768.5M | $418.3M | ||
| Q1 24 | $680.0M | $421.6M |
| Q4 25 | $913.2M | $1.2B | ||
| Q3 25 | $904.9M | $1.1B | ||
| Q2 25 | $907.4M | $1.2B | ||
| Q1 25 | $966.7M | $1.1B | ||
| Q4 24 | $910.4M | $1.1B | ||
| Q3 24 | $991.1M | $1.1B | ||
| Q2 24 | $964.3M | $1.1B | ||
| Q1 24 | $869.8M | $1.1B |
| Q4 25 | — | 1.42× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | — | ||
| 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 | $50.8M |
| Free Cash FlowOCF − Capex | $-61.9M | $50.5M |
| FCF MarginFCF / Revenue | -71.3% | 114.9% |
| Capex IntensityCapex / Revenue | 10.7% | 0.7% |
| Cash ConversionOCF / Net Profit | — | 2.22× |
| TTM Free Cash FlowTrailing 4 quarters | $-336.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-52.6M | $50.8M | ||
| Q3 25 | $-78.7M | $18.0M | ||
| Q2 25 | $-67.4M | $13.8M | ||
| Q1 25 | $-103.7M | $3.1M | ||
| Q4 24 | $-73.3M | $58.2M | ||
| Q3 24 | $-59.0M | $16.4M | ||
| Q2 24 | $-98.4M | $12.3M | ||
| Q1 24 | $-122.3M | $11.5M |
| Q4 25 | $-61.9M | $50.5M | ||
| Q3 25 | $-89.5M | — | ||
| Q2 25 | $-74.9M | — | ||
| Q1 25 | $-109.9M | — | ||
| Q4 24 | $-77.5M | $58.0M | ||
| Q3 24 | $-61.3M | — | ||
| Q2 24 | $-98.9M | — | ||
| Q1 24 | $-126.5M | — |
| Q4 25 | -71.3% | 114.9% | ||
| Q3 25 | -132.7% | — | ||
| Q2 25 | -124.9% | — | ||
| Q1 25 | -222.8% | — | ||
| Q4 24 | -105.1% | 142.1% | ||
| Q3 24 | -104.6% | — | ||
| Q2 24 | -317.9% | — | ||
| Q1 24 | -17685.3% | — |
| Q4 25 | 10.7% | 0.7% | ||
| Q3 25 | 16.1% | — | ||
| Q2 25 | 12.4% | — | ||
| Q1 25 | 12.6% | — | ||
| Q4 24 | 5.7% | 0.5% | ||
| Q3 24 | 3.9% | — | ||
| Q2 24 | 1.4% | — | ||
| Q1 24 | 583.4% | — |
| Q4 25 | — | 2.22× | ||
| Q3 25 | — | 0.98× | ||
| Q2 25 | — | 2.74× | ||
| Q1 25 | — | 0.83× | ||
| Q4 24 | — | 3.36× | ||
| Q3 24 | — | 2.15× | ||
| Q2 24 | — | 4.73× | ||
| Q1 24 | — | 1.23× |
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% |
WSR
Segment breakdown not available.
