Filing Flows › Iovance Biotherapeutics (IOVA) › Q4 2025
Iovance Biotherapeutics (IOVA) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 24, 2026
Iovance Biotherapeutics (IOVA) reported revenue of $86.8M for the fourth quarter 2025 (Q4 2025), +18% from a year earlier and +29% from the quarter before. Operating margin was -84.7%, net loss $71.9M (82.9% of revenue).
Iovance Biotherapeutics, Q4 2025: revenue $86.8M (+18% year over year), operating margin -84.7%, net loss $71.9M, operating cash flow −$52.6M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $86.8M | +29% | +18% |
| Operating profit | −$73.5M | — | — |
| Net earnings | −$71.9M | — | — |
| Operating cash flow | −$52.6M | — | — |
What changed
Revenue was $86.8M in Q4 2025, up 18% year over year and up 29% from the previous quarter. Amtagvi was the largest line at 75% of revenue.
Operating costs exceeded revenue by $73.5M, an operating margin of -84.7%. Total costs fell 0% while revenue rose 18%. The fastest-growing cost line was Cost of revenue (+14%). The quarter ended with a net loss of $71.9M, narrower than the previous quarter's $91.3M loss.
Operating cash flow was −$52.6M. Non-cash charges added back $3.7M of depreciation and amortization and $11.8M of share-based compensation. Working capital and other items added $3.8M. Capital expenditures of $9.3M exceeded it, leaving free cash flow of −$61.9M.
Questions
What was Iovance Biotherapeutics' revenue in the fourth quarter 2025?
Iovance Biotherapeutics (IOVA) reported revenue of $86.8M for the fourth quarter 2025 (Q4 2025), +18% from a year earlier and +29% from the quarter before.
Was Iovance Biotherapeutics profitable in the fourth quarter 2025?
Operating loss was $73.5M (-84.7% of revenue) and net loss $71.9M.