Revenue: As of FY2026 Q1, the actual value is USD 71.43 M, missing the estimate of USD 75.66 M.EPS: As of FY2026 Q1, the actual value is USD -0.19, missing the estimate of USD -0.1543.<h4>First Quarter 2026 Financial Highlights</h4><ul><li>Total Product Revenue: Iovance Biotherapeutics, Inc. reported total product revenue of ~$71 million for the first quarter of 2026, marking an approximate 45% increase over the first quarter of 2025. </li><li>Segment Revenue: U.S. Amtagvi revenue was approximately $60 million, and global Proleukin revenue was approximately $11 million during the first quarter of 2026. </li><li>Gross Margin: The gross margin for the first quarter of 2026 was 41%. </li><li>Research and Development (R&amp;D) Expenses: R&amp;D expenses decreased by 12% compared to the fourth quarter of 2025, representing the third consecutive quarter of improvements. </li></ul><h4>Condensed Consolidated Statements of Operations (Three Months Ended March 31)</h4><ul><li>Product Revenue, Net: $71,430 thousand in 2026 compared to $49,324 thousand in 2025. </li><li>Total Revenue: $71,430 thousand in 2026 compared to $49,324 thousand in 2025. </li><li>Cost of Sales: $42,498 thousand in 2026 compared to $42,715 thousand in 2025. </li><li>Research and Development: $62,487 thousand in 2026 compared to $75,965 thousand in 2025. </li><li>Selling, General and Administrative: $38,949 thousand in 2026 compared to $43,800 thousand in 2025. </li><li>Depreciation and Amortization: $8,539 thousand in 2026 compared to $8,065 thousand in 2025. </li><li>Total Costs and Expenses: $152,473 thousand in 2026 compared to $170,545 thousand in 2025. </li><li>Loss from Operations: -$81,043 thousand in 2026 compared to -$121,221 thousand in 2025. </li><li>Interest and Other Income, Net: $1,333 thousand in 2026 compared to $3,220 thousand in 2025. </li><li>Net Loss before Income Taxes: -$79,710 thousand in 2026 compared to -$118,001 thousand in 2025. </li><li>Income Tax (Expense) Benefit: $665 thousand in 2026 compared to $1,838 thousand in 2025. </li><li>Net Loss: -$79,045 thousand in 2026 compared to -$116,163 thousand in 2025. </li></ul><h4>Selected Condensed Consolidated Balance Sheets (As of March 31, 2026 and December 31, 2025)</h4><ul><li>Cash, Cash Equivalents, and Investments: $313,443 thousand as of March 31, 2026, compared to $296,980 thousand as of December 31, 2025. </li><li>Restricted Cash: $5,992 thousand as of March 31, 2026, compared to $5,980 thousand as of December 31, 2025. </li><li>Total Assets: $925,665 thousand as of March 31, 2026, compared to $913,170 thousand as of December 31, 2025. </li><li>Stockholders’ Equity: $721,754 thousand as of March 31, 2026, compared to $698,583 thousand as of December 31, 2025. </li></ul><h4>Cash Position and Funding Outlook</h4>Iovance Biotherapeutics, Inc.’s cash position was approximately $319 million on March 31, 2026, including cash, cash equivalents, short-term investments, and restricted cash. This cash position is projected to fund operations well into 2028, supported by expense reductions. <h4>Outlook / Guidance</h4>Iovance Biotherapeutics, Inc. expects total product revenue for the second quarter of 2026 to be between $86 million and $88 million, with U.S. Amtagvi revenue projected to be $79 million to $81 million. The company’s full-year 2026 total product revenue guidance is set between $350 million and $370 million. These projections assume strong growth in Amtagvi sales throughout 2026.

Iovance Biotherapeautics | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 71.43 M