Iovance Biotherp Financials
This page shows Iovance Biotherp (IOVA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 18 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Iovance Biotherp has an operating margin of -153.1%, meaning the company retains $-153 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -240.9% the prior year.
Iovance Biotherp's revenue surged 60.6% year-over-year to $263.5M, reflecting rapid business expansion. This strong growth earns a score of 100/100.
Iovance Biotherp carries a low D/E ratio of 0.31, meaning only $0.31 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 96/100, indicating a strong balance sheet with room for future borrowing.
Iovance Biotherp's current ratio of 3.20 indicates adequate short-term liquidity, earning a score of 62/100. The company can meet its near-term obligations, though with limited headroom.
While Iovance Biotherp generated -$302.4M in operating cash flow, capex of $33.8M consumed most of it, leaving -$336.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Iovance Biotherp generates a -56.0% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -52.4% the prior year.
Iovance Biotherp passes 2 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Iovance Biotherp generates $0.77 in operating cash flow (-$302.4M OCF vs -$391.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Key Financial Metrics
Earnings & Revenue
Iovance Biotherp generated $263.5M in revenue in fiscal year 2025. This represents an increase of 60.6% from the prior year.
Iovance Biotherp's EBITDA was -$390.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 1.7% from the prior year.
Iovance Biotherp reported -$391.0M in net income in fiscal year 2025. This represents a decrease of 5.1% from the prior year.
Iovance Biotherp earned $-1.09 per diluted share (EPS) in fiscal year 2025. This represents an increase of 14.8% from the prior year.
Cash & Balance Sheet
Iovance Biotherp generated -$336.2M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 7.6% from the prior year.
Iovance Biotherp held $163.1M in cash against $0 in long-term debt as of fiscal year 2025.
Iovance Biotherp had 412M shares outstanding in fiscal year 2025. This represents an increase of 35.0% from the prior year.
Margins & Returns
Iovance Biotherp's gross margin was 34.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 8.9 percentage points from the prior year.
Iovance Biotherp's operating margin was -153.1% in fiscal year 2025, reflecting core business profitability. This is up 87.8 percentage points from the prior year.
Iovance Biotherp's net profit margin was -148.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 78.5 percentage points from the prior year.
Iovance Biotherp's ROE was -56.0% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 3.6 percentage points from the prior year.
Capital Allocation
Iovance Biotherp invested $300.3M in research and development in fiscal year 2025. This represents an increase of 8.7% from the prior year.
Iovance Biotherp invested $33.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 205.7% from the prior year.
IOVA Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $86.8M+28.6% | $67.5M+12.5% | $60.0M+21.5% | $49.3M-33.1% | $73.7M+25.9% | $58.6M+88.2% | $31.1M+4250.5% | $715K |
| Cost of Revenue | $28.3M-26.4% | $38.5M-32.1% | $56.7M+13.9% | $49.7M+115.3% | $23.1M-26.7% | $31.5M+0.5% | $31.4M+332.0% | $7.3M |
| Gross Profit | $58.5M+101.8% | $29.0M+781.3% | $3.3M+888.5% | -$417K-100.8% | $50.6M+87.1% | $27.0M+10419.5% | -$262K+96.0% | -$6.5M |
| R&D Expenses | $68.9M-8.4% | $75.2M-5.3% | $79.4M+3.2% | $76.9M+14.2% | $67.3M+0.4% | $67.0M+8.0% | $62.1M-22.2% | $79.8M |
| SG&A Expenses | $36.1M+4.6% | $34.6M-8.3% | $37.7M-14.2% | $43.9M+4.7% | $42.0M+6.7% | $39.3M-0.6% | $39.6M+26.0% | $31.4M |
| Operating Income | -$73.5M+22.6% | -$94.9M+16.6% | -$113.8M+6.1% | -$121.2M-40.0% | -$86.6M+2.8% | -$89.1M+12.6% | -$101.9M+13.4% | -$117.7M |
| Interest Expense | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Income Tax | $184K+107.7% | -$2.4M-221.0% | $2.0M+208.2% | -$1.8M-218.0% | $1.6M+202.5% | -$1.5M-4.3% | -$1.5M-3.6% | -$1.4M |
| Net Income | -$71.9M+21.2% | -$91.3M+18.3% | -$111.7M+3.9% | -$116.2M-47.9% | -$78.6M+6.0% | -$83.5M+14.0% | -$97.1M+14.1% | -$113.0M |
| EPS (Diluted) | N/A | N/A | $-0.33+8.3% | $-0.36 | N/A | $-0.28+17.6% | $-0.34+19.0% | $-0.42 |
IOVA Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $913.2M+0.9% | $904.9M-0.3% | $907.4M-6.1% | $966.7M+6.2% | $910.4M-8.1% | $991.1M+2.8% | $964.3M+10.9% | $869.8M |
| Current Assets | $442.7M+3.2% | $429.1M+1.6% | $422.5M-17.6% | $512.6M+12.2% | $457.0M-8.3% | $498.6M+3.4% | $482.3M+25.1% | $385.5M |
| Cash & Equivalents | $163.1M+3.1% | $158.1M+19.4% | $132.5M-22.8% | $171.7M+48.4% | $115.7M-29.5% | $164.2M-28.2% | $228.7M+70.4% | $134.2M |
| Inventory | $51.7M-0.1% | $51.7M+3.8% | $49.8M-24.0% | $65.5M+27.2% | $51.5M+33.5% | $38.6M+38.5% | $27.9M+58.1% | $17.6M |
| Accounts Receivable | $82.4M+23.5% | $66.8M+11.4% | $59.9M-15.5% | $70.9M+2.3% | $69.3M+24.3% | $55.8M+76.5% | $31.6M+13406.0% | $234K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $214.6M+5.9% | $202.7M-3.0% | $208.9M+5.1% | $198.9M-0.6% | $200.0M-8.1% | $217.7M+11.2% | $195.8M+3.1% | $189.8M |
| Current Liabilities | $138.4M+10.0% | $125.8M-2.6% | $129.2M+5.3% | $122.7M+0.3% | $122.3M+3.6% | $118.1M+26.1% | $93.6M+12.5% | $83.2M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $698.6M-0.5% | $702.3M+0.5% | $698.5M-9.0% | $767.9M+8.1% | $710.4M-8.2% | $773.5M+0.6% | $768.5M+13.0% | $680.0M |
| Retained Earnings | -$2.8B-2.7% | -$2.7B-3.5% | -$2.6B-4.5% | -$2.5B-4.9% | -$2.4B-3.4% | -$2.3B-3.8% | -$2.2B-4.6% | -$2.1B |
IOVA Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$52.6M+33.2% | -$78.7M-16.7% | -$67.4M+35.0% | -$103.7M-41.5% | -$73.3M-24.3% | -$59.0M+40.1% | -$98.4M+19.5% | -$122.3M |
| Capital Expenditures | $9.3M-14.1% | $10.8M+45.3% | $7.5M+20.1% | $6.2M+49.0% | $4.2M+82.2% | $2.3M+417.6% | $442K-89.4% | $4.2M |
| Free Cash Flow | -$61.9M+30.9% | -$89.5M-19.5% | -$74.9M+31.8% | -$109.9M-41.9% | -$77.5M-26.4% | -$61.3M+38.0% | -$98.9M+21.8% | -$126.5M |
| Investing Cash Flow | $775K-95.4% | $17.0M+22.9% | $13.8M-12.8% | $15.9M-33.0% | $23.7M+148.5% | -$48.8M-221.3% | $40.2M+136.1% | -$111.5M |
| Financing Cash Flow | $56.2M-36.2% | $88.1M+565.6% | $13.2M-90.8% | $143.3M+6106.8% | $2.3M-94.5% | $42.0M-72.5% | $152.8M-21.1% | $193.6M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
IOVA Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 67.4%+24.4pp | 43.0%+37.5pp | 5.5%+6.3pp | -0.9%-69.5pp | 68.7%+22.5pp | 46.2%+47.0pp | -0.8%+914.7pp | -915.5% |
| Operating Margin | -84.7%+56.0pp | -140.7%+49.1pp | -189.8%+56.0pp | -245.8%-128.3pp | -117.5%+34.6pp | -152.1%+175.5pp | -327.6%+16137.0pp | -16464.6% |
| Net Margin | -82.9%+52.4pp | -135.3%+51.0pp | -186.3%+49.3pp | -235.5%-128.9pp | -106.6%+36.1pp | -142.7%+169.5pp | -312.2%+15488.7pp | -15800.8% |
| Return on Equity | -10.3%+2.7pp | -13.0%+3.0pp | -16.0%-0.9pp | -15.1%-4.1pp | -11.1%-0.3pp | -10.8%+1.8pp | -12.6%+4.0pp | -16.6% |
| Return on Assets | -7.9%+2.2pp | -10.1%+2.2pp | -12.3%-0.3pp | -12.0%-3.4pp | -8.6%-0.2pp | -8.4%+1.6pp | -10.1%+2.9pp | -13.0% |
| Current Ratio | 3.20-0.2 | 3.41+0.1 | 3.27-0.9 | 4.18+0.4 | 3.74-0.5 | 4.22-0.9 | 5.15+0.5 | 4.63 |
| Debt-to-Equity | 0.31+0.0 | 0.29-0.0 | 0.30+0.0 | 0.26-0.0 | 0.280.0 | 0.28+0.0 | 0.25-0.0 | 0.28 |
| FCF Margin | -71.3%+61.4pp | -132.8%-7.8pp | -125.0%+97.9pp | -222.8%-117.7pp | -105.1%-0.5pp | -104.6%+213.2pp | -317.9%+17367.5pp | -17685.3% |
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Frequently Asked Questions
What is Iovance Biotherp's annual revenue?
Iovance Biotherp (IOVA) reported $263.5M in total revenue for fiscal year 2025. This represents a 60.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Iovance Biotherp's revenue growing?
Iovance Biotherp (IOVA) revenue grew by 60.6% year-over-year, from $164.1M to $263.5M in fiscal year 2025.
Is Iovance Biotherp profitable?
No, Iovance Biotherp (IOVA) reported a net income of -$391.0M in fiscal year 2025, with a net profit margin of -148.4%.
What is Iovance Biotherp's EBITDA?
Iovance Biotherp (IOVA) had EBITDA of -$390.5M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Iovance Biotherp's gross margin?
Iovance Biotherp (IOVA) had a gross margin of 34.3% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Iovance Biotherp's operating margin?
Iovance Biotherp (IOVA) had an operating margin of -153.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Iovance Biotherp's net profit margin?
Iovance Biotherp (IOVA) had a net profit margin of -148.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Iovance Biotherp's return on equity (ROE)?
Iovance Biotherp (IOVA) has a return on equity of -56.0% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Iovance Biotherp's free cash flow?
Iovance Biotherp (IOVA) generated -$336.2M in free cash flow during fiscal year 2025. This represents a 7.6% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Iovance Biotherp's operating cash flow?
Iovance Biotherp (IOVA) generated -$302.4M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Iovance Biotherp's total assets?
Iovance Biotherp (IOVA) had $913.2M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Iovance Biotherp's capital expenditures?
Iovance Biotherp (IOVA) invested $33.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Iovance Biotherp spend on research and development?
Iovance Biotherp (IOVA) invested $300.3M in research and development during fiscal year 2025.
What is Iovance Biotherp's current ratio?
Iovance Biotherp (IOVA) had a current ratio of 3.20 as of fiscal year 2025, which is generally considered healthy.
What is Iovance Biotherp's debt-to-equity ratio?
Iovance Biotherp (IOVA) had a debt-to-equity ratio of 0.31 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Iovance Biotherp's return on assets (ROA)?
Iovance Biotherp (IOVA) had a return on assets of -42.8% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Iovance Biotherp's cash runway?
Based on fiscal year 2025 data, Iovance Biotherp (IOVA) had $163.1M in cash against an annual operating cash burn of $302.4M. This gives an estimated cash runway of approximately 6 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Iovance Biotherp's Piotroski F-Score?
Iovance Biotherp (IOVA) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Iovance Biotherp's earnings high quality?
Iovance Biotherp (IOVA) has an earnings quality ratio of 0.77x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
How financially healthy is Iovance Biotherp?
Iovance Biotherp (IOVA) scores 43 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.