Iovance Biotherapeutics (IOVA) Q3 FY2026 earnings: revenue $121 million, up 80.1% on the year

Iovance Biotherapeutics, Inc. (IOVA) reported revenue of $121 million for Q3 FY2026, the quarter ended 30 September 2026, up 80.1% on the same quarter a year earlier. Net income was -$22 million, and diluted earnings per share $-0.05. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$121 million

+80.1% on the year · +22.3% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-19.7%

-140.7% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$22 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.05

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 3 new, 5 kept.

Revenue rose about 80% year over year: Total product revenue was about $122 million, up about 80% from $67 million in 3Q25 and about 22% from $99 million in 2Q26. The company described it as a record.
ATC network passed 100 sites: The authorized treatment center network reached more than 100 U.S., Canadian, and Australian ATCs. The prior quarter reported more than 95.
Lung cohorts show 24.6% response rate: IOV-LUN-202 showed a 24.6% ORR in 69 patients with non-squamous mNSCLC, including two unconfirmed responses. Cohorts 1 and 2 are completing enrollment.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	121	99.3	67.5	+22.3%	+80.1%
Cost of revenue	48.0	43.6	38.5	+10.2%	+24.8%
Gross profit	73.4	55.7	29.0	+31.8%	+153.4%
Gross margin	60.5%	56.1%	43.0%
Research and development	49.3	58.9	75.2	-16.2%	-34.4%
Operating income	-24.0	-51.9	-94.9
Operating margin	-19.7%	-52.3%	-140.7%
Pre-tax income	-21.7	-48.7	-93.7
Income tax	0.6	-1.4	-2.4
Net income	-22.3	-47.3	-91.3
Net margin	-18.3%	-47.6%	-135.3%
Diluted EPS	-$0.05	-$0.11	-$0.25

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	-4.5	-60.8	-78.7
Capital expenditure	4.7	5.4	10.8	-13.0%	-56.3%
Free cash flow	-9.2	-66.3	-89.5
Free cash flow margin	-7.6%	-66.7%	-132.7%
Cash from investing	-135	-74.0	17.0
Cash from financing	86.3	49.3	88.1	+75.1%	-2.0%
Depreciation and amortisation	9.5	9.5	9.0	-0.0%	+5.4%
Share-based compensation	11.8	11.7	11.9	+0.9%	-0.6%
Diluted shares, weighted	456m	450m	364m	+1.3%	+25.2%
Shares outstanding at period end	463m	453m	385m	+2.1%	+20.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	813	736	702	+10.4%	+15.7%
Debt	0.0	0.0	1.0
Operating lease liabilities	42.8	43.3	45.2	-1.3%	-5.4%
Other liabilities	136	136	156	-0.3%	-13.2%
Total liabilities and equity	991	916	905	+8.3%	+9.5%
Fixed assets	129	131	127	-1.6%	+2.1%
Intangible assets	259	264	285	-1.8%	-9.1%
Investments	318	187	143	+70.3%	+123.2%
Cash and equivalents	57.9	111	158	-47.7%	-63.4%
Receivables	107	102	66.8	+4.8%	+60.3%
Inventory	55.2	55.6	51.7	-0.7%	+6.8%
Other assets	64.2	64.8	73.8	-1.0%	-13.1%
Total assets	991	916	905	+8.3%	+9.5%

Questions

What was Iovance Biotherapeutics' revenue in Q3 FY2026?

Iovance Biotherapeutics (IOVA) reported revenue of $121 million for Q3 FY2026, the quarter ended 30 September 2026, up 80.1% on the same quarter a year earlier.

How much did Iovance Biotherapeutics earn in Q3 FY2026?

Net loss for Q3 FY2026 was $22 million, and the diluted loss per share $0.05.

When did Iovance Biotherapeutics report Q3 FY2026 results?

Iovance Biotherapeutics filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q3 FY2017 †	Q4 FY2017 †	Q1 FY2018	Q2 FY2018	Q3 FY2018	Q4 FY2018	Q1 FY2019	Q2 FY2023	Q3 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024 †	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.2	0.5	0.7	31.1	58.6	73.7	49.3	60.0	67.5	86.8	71.4	99.3	121
Cost of revenue	n/a	n/a	n/a	n/a	n/a	n/a	n/a	2.0	4.3	7.3	31.4	31.5	45.5	42.7	48.9	38.5	43.1	42.5	43.6	48.0
Gross profit	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-1.8	-3.9	-6.5	-0.3	27.0	28.2	6.6	11.1	29.0	43.7	28.9	55.7	73.4
Gross margin	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-761%	-825%	-916%	-1%	46%	38%	13%	18%	43%	50%	41%	56%	60%
R&D	16.7	20.7	19.9	24.6	27.9	27.4	30.9	86.3	87.5	79.8	62.1	67.0	72.2	76.0	77.9	75.2	71.2	62.5	58.9	49.3
Operating income	-22.3	-26.1	-26.9	-31.4	-35.1	-34.9	-40.0	-110	-118	-118	-102	-89.1	-86.6	-121	-114	-94.9	-73.5	-81.0	-51.9	-24.0
Operating margin	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-46255%	-25237%	-16465%	-328%	-152%	-117%	-246%	-190%	-141%	-85%	-113%	-52%	-20%
Pre-tax income	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-107	-115	-114	-98.6	-85.1	-77.0	-118	-110	-93.7	-71.7	-79.7	-48.7	-21.7
Net income	-22.1	-25.9	-26.5	-30.7	-33.8	-32.6	-37.0	-107	-114	-113	-97.1	-83.5	-78.6	-116	-112	-91.3	-71.9	-79.0	-47.3	-22.3
Net margin	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-44760%	-24256%	-15801%	-312%	-143%	-107%	-236%	-186%	-135%	-83%	-111%	-48%	-18%
Diluted EPS	-$0.35	-$0.36	-$0.31	-$0.34	-$0.36	-$0.27	-$0.30	-$0.47	-$0.46	-$0.42	-$0.34	-$0.28	-$0.26	-$0.36	-$0.33	-$0.25	-$0.18	-$0.19	-$0.11	-$0.05
Operating cash flow	-21.4	-21.0	-17.8	-23.9	-27.9	-31.5	-29.1	-94.0	-84.1	-122	-98.4	-59.0	-73.3	-104	-67.4	-78.7	-52.6	-72.1	-60.8	-4.5
Capital expenditure	0.3	n/a	0.0	0.4	0.5	0.3	0.8	9.5	3.6	4.2	0.4	2.3	4.2	6.2	7.5	10.8	9.3	6.6	5.4	4.7
Free cash flow	-21.7	n/a	-17.9	-24.3	-28.4	-31.8	-29.9	-103	-87.7	-126	-98.9	-61.3	-77.5	-110	-74.9	-89.5	-61.9	-78.7	-66.3	-9.2
Shares outstanding	72m	73m	90m	93m	97m	123m	123m	225m	256m	280m	297m	305m	305m	334m	342m	385m	412m	438m	453m	463m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.