---
title: "Iovance Biotherapeautics | 8-K: FY2026 Q1 Revenue Misses Estimate at USD 71.43 M"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285560850.md"
datetime: "2026-05-07T13:19:56.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285560850.md)
  - [en](https://longbridge.com/en/news/285560850.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285560850.md)
---

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

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.

#### First Quarter 2026 Financial Highlights

-   **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.
-   **Segment Revenue:** U.S. Amtagvi revenue was approximately $60 million, and global Proleukin revenue was approximately $11 million during the first quarter of 2026.
-   **Gross Margin:** The gross margin for the first quarter of 2026 was 41%.
-   **Research and Development (R&D) Expenses:** R&D expenses decreased by 12% compared to the fourth quarter of 2025, representing the third consecutive quarter of improvements.

#### Condensed Consolidated Statements of Operations (Three Months Ended March 31)

-   **Product Revenue, Net:** $71,430 thousand in 2026 compared to $49,324 thousand in 2025.
-   **Total Revenue:** $71,430 thousand in 2026 compared to $49,324 thousand in 2025.
-   **Cost of Sales:** $42,498 thousand in 2026 compared to $42,715 thousand in 2025.
-   **Research and Development:** $62,487 thousand in 2026 compared to $75,965 thousand in 2025.
-   **Selling, General and Administrative:** $38,949 thousand in 2026 compared to $43,800 thousand in 2025.
-   **Depreciation and Amortization:** $8,539 thousand in 2026 compared to $8,065 thousand in 2025.
-   **Total Costs and Expenses:** $152,473 thousand in 2026 compared to $170,545 thousand in 2025.
-   **Loss from Operations:** -$81,043 thousand in 2026 compared to -$121,221 thousand in 2025.
-   **Interest and Other Income, Net:** $1,333 thousand in 2026 compared to $3,220 thousand in 2025.
-   **Net Loss before Income Taxes:** -$79,710 thousand in 2026 compared to -$118,001 thousand in 2025.
-   **Income Tax (Expense) Benefit:** $665 thousand in 2026 compared to $1,838 thousand in 2025.
-   **Net Loss:** -$79,045 thousand in 2026 compared to -$116,163 thousand in 2025.

#### Selected Condensed Consolidated Balance Sheets (As of March 31, 2026 and December 31, 2025)

-   **Cash, Cash Equivalents, and Investments:** $313,443 thousand as of March 31, 2026, compared to $296,980 thousand as of December 31, 2025.
-   **Restricted Cash:** $5,992 thousand as of March 31, 2026, compared to $5,980 thousand as of December 31, 2025.
-   **Total Assets:** $925,665 thousand as of March 31, 2026, compared to $913,170 thousand as of December 31, 2025.
-   **Stockholders’ Equity:** $721,754 thousand as of March 31, 2026, compared to $698,583 thousand as of December 31, 2025.

#### Cash Position and Funding Outlook

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.

#### Outlook / Guidance

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.

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