Iovance Biotherapeutics, Inc. (IOVA) Income Statement
IOVA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsIOVA revenue and net income
Where IOVA's revenue goes
2025Each bar shows an amount and its share of revenue. IOVA kept −148.4% of revenue as net income.
IOVA profit margins
IOVA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +60.6% | +934.5% | — | — |
| Gross profit | +125.4% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
IOVA quarterly EPS vs estimates
Iovance Biotherapeutics beat the analyst EPS estimate in 5 of the last 8 quarters. Next report: November 5, 2026 (estimate $-0.09).
IOVA income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $263.5M | $164.1M | $1.2M | $238,000 | $0 | $0 | $0 | $0 | $0 | $0 |
| Cost of revenue | $173.2M | $124.0M | $10.8M | $21.1M | $14.0M | $8.7M | $8.1M | $956,000 | $952,000 | $978,000 |
| Gross profit | $90.3M | $40.1M | −$9.6M | −$21.1M | −$14.0M | −$8.7M | −$8.1M | −$956,000 | −$952,000 | −$978,000 |
| Research & development | $300.3M | $282.3M | $344.1M | $294.8M | $259.0M | $201.7M | $166.0M | $99.8M | $71.6M | $28.0M |
| Sales, general & admin | $152.3M | $153.0M | $106.9M | $104.1M | $83.7M | $60.2M | $40.8M | $28.4M | $21.3M | $25.6M |
| Total operating expenses | $488.5M | $435.4M | $451.0M | $398.9M | $342.7M | $261.9M | $206.9M | $128.3M | $92.9M | $53.6M |
| Operating income | −$398.2M | −$395.3M | −$460.6M | −$398.9M | −$342.7M | −$261.9M | −$206.9M | −$128.3M | −$92.9M | −$53.6M |
| Interest income | $10.3M | $20.3M | $11.6M | $3.0M | $451,000 | $2.4M | $9.3M | $4.7M | $813,000 | $745,000 |
| Interest expense | — | — | — | $3.0M | $451,000 | $2.4M | $0 | $0 | $0 | $0 |
| Income before taxes | −$393.0M | −$375.0M | −$447.5M | −$395.9M | −$342.3M | −$259.6M | −$197.6M | −$123.6M | −$92.1M | −$52.9M |
| Income taxes | −$2.1M | −$2.8M | −$3.5M | −$6.0M | −$14.4M | −$2.4M | −$10.5M | $4.7M | −$952,000 | −$978,000 |
| Net income | −$391.0M | −$372.2M | −$444.0M | −$389.9M | −$327.8M | −$259.6M | −$187.1M | −$123.6M | −$92.1M | −$52.9M |
| EBITDA | −$350.9M | −$331.4M | −$414.4M | −$377.7M | −$328.7M | −$260.8M | −$205.7M | −$127.3M | −$91.9M | −$52.7M |
| EPS (diluted) | −$1.12 | −$1.30 | −$1.88 | −$2.48 | −$2.22 | −$1.89 | −$1.58 | −$1.28 | −$1.32 | −$0.79 |
| Gross margin | 34.3% | 24.4% | −804.5% | −8,880.3% | — | — | — | — | — | — |
| Operating margin | −151.1% | −240.9% | −38,735.0% | −167,595.8% | — | — | — | — | — | — |
| Net margin | −148.4% | −226.8% | −37,345.4% | −163,833.2% | — | — | — | — | — | — |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $99.3M | $71.4M | $86.8M | $67.5M | $60.0M | $49.3M | $73.7M | $58.6M | $31.1M | $715,000 | $482,000 | $469,000 |
| Cost of revenue | $43.6M | $42.5M | $43.1M | $38.5M | $48.9M | $42.7M | $45.5M | $39.8M | $31.4M | $7.3M | $4.4M | $4.3M |
| Gross profit | $55.7M | $28.9M | $43.7M | $29.0M | $11.1M | $6.6M | $28.2M | $18.7M | −$262,000 | −$6.5M | −$3.9M | −$3.9M |
| Research & development | $58.9M | $62.5M | $71.2M | $75.2M | $77.9M | $76.0M | $72.2M | $68.2M | $62.1M | $79.8M | $87.5M | $87.5M |
| Sales, general & admin | $39.3M | $38.9M | $36.4M | $34.6M | $37.7M | $43.9M | $58.7M | $39.6M | $39.6M | $26.1M | $49.3M | $27.0M |
| Total operating expenses | $107.6M | $110.0M | $117.1M | $118.7M | $124.8M | $127.8M | $114.7M | $107.8M | $101.7M | $111.2M | $117.4M | $114.5M |
| Operating income | −$51.9M | −$81.0M | −$73.5M | −$89.8M | −$113.8M | −$121.2M | −$86.6M | −$89.1M | −$101.9M | −$117.7M | −$121.3M | −$118.4M |
| Interest income | $3.2M | $1.3M | $1.7M | $1.2M | $4.1M | $3.2M | $9.6M | $4.0M | $3.4M | $3.3M | $3.1M | $3.4M |
| Interest expense | — | — | — | — | — | — | — | — | — | — | $3.5M | — |
| Income before taxes | −$48.7M | −$79.7M | −$71.7M | −$93.7M | −$109.7M | −$118.0M | −$77.0M | −$85.1M | −$98.6M | −$114.4M | −$118.1M | −$115.0M |
| Income taxes | −$1.4M | −$665,000 | $184,000 | −$2.4M | $2.0M | −$1.8M | $1.6M | −$1.5M | −$1.5M | −$1.4M | −$1.8M | −$1.2M |
| Net income | −$47.3M | −$79.0M | −$71.9M | −$91.3M | −$111.7M | −$116.2M | −$78.6M | −$83.5M | −$97.1M | −$113.0M | −$116.4M | −$113.8M |
| EBITDA | −$41.5M | −$70.6M | −$60.8M | −$78.2M | −$101.5M | −$110.3M | −$65.3M | −$77.9M | −$87.7M | −$104.5M | −$108.4M | −$105.1M |
| EPS (diluted) | −$0.11 | −$0.19 | −$0.18 | −$0.25 | −$0.33 | −$0.36 | −$0.26 | −$0.28 | −$0.34 | −$0.42 | −$0.45 | −$0.46 |
| Gross margin | 56.1% | 40.5% | 50.3% | 43.0% | 18.5% | 13.4% | 38.2% | 32.0% | −0.8% | −915.5% | −805.6% | −825.4% |
| Operating margin | −52.3% | −113.5% | −84.7% | −133.1% | −189.8% | −245.8% | −117.5% | −152.1% | −327.6% | −16,464.6% | −25,156.8% | −25,236.9% |
| Net margin | −47.6% | −110.7% | −82.9% | −135.3% | −186.2% | −235.5% | −106.6% | −142.7% | −312.2% | −15,800.8% | −24,145.0% | −24,255.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in IOVA's financial statements (latest annual report filed February 24, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
IOVA financial results
In fiscal year 2025 (ended December 31, 2025), Iovance Biotherapeutics reported revenue of $263.5 million, up 60.6% from the year before. It had a net loss of $391.0 million, a net profit margin of −148.4%. Diluted earnings per share came to −$1.12.
See the IOVA stock overview for the latest quote and news, or the IOVA chart for price history and technical indicators.
IOVA income statement FAQ
What is Iovance Biotherapeutics's annual revenue?
Iovance Biotherapeutics reported total revenue of $263.5 million for fiscal year 2025, which ended on December 31, 2025. That was up 60.6% from $164.1 million the previous year.
Is Iovance Biotherapeutics profitable?
No. Iovance Biotherapeutics reported a net loss of $391.0 million in fiscal 2025, a net profit margin of −148.4%; its operating margin was −151.1%.
What is Iovance Biotherapeutics's gross margin?
Iovance Biotherapeutics's gross margin was 34.3% in fiscal 2025: for every $100 of revenue, Iovance Biotherapeutics kept $34 after the direct cost of its products and services.
How much does Iovance Biotherapeutics spend on research and development?
Iovance Biotherapeutics spent $300.3 million on research and development in fiscal 2025, 114.0% of revenue.
What are Iovance Biotherapeutics's earnings per share?
Iovance Biotherapeutics earned $-1.12 per diluted share in fiscal 2025, compared with $-1.30 a year earlier.
When will Iovance Biotherapeutics report its next earnings?
Iovance Biotherapeutics is expected to report results for the quarter ending September 30, 2026 on November 5, 2026 before the market opens.
When does Iovance Biotherapeutics's fiscal year end?
Iovance Biotherapeutics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 24, 2026.