| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 99.31 | 39.0% | 65.7% |
| Total Income | 99.31 | 39.0% | 65.7% |
| Expenditure | 151.22 | 0.8% | 13.0% |
| PBT | -48.69 | 38.9% | 55.6% |
| Net Profit | -47.32 | 40.1% | 57.6% |
| OPM | -52.26% | ||
| NPM | -47.64% | ||
| EPS | -0.11 | 42.1% | 66.7% |
Iovance Biotherapeutics Reports Record Second Quarter 2026 Revenue of ~$99M
06 Aug 2026 · 6 Aug, 4:41 pm
Summary
Iovance Biotherapeutics announced record second quarter 2026 revenue of $99.3 million, a 66% increase year-over-year, driven by strong U.S. Amtagvi demand. Gross margin improved to 56%, reflecting higher sales volume and cost efficiencies. The company is currently reviewing its full-year 2026 revenue guidance due to positive demand trends. Management expressed excitement about the advancing clinical pipeline and the potential for lifileucel in various solid tumor indications.
Key Highlights
- 1
Iovance Biotherapeutics reported record second quarter 2026 revenue of approximately $99.3 million, an increase of 66% year-over-year from $59.9 million in 2Q25.
- 2
U.S. Amtagvi revenue reached approximately $91 million in the second quarter of 2026, marking a 40% increase from 4Q25.
- 3
Gross margin improved to 56% in the second quarter of 2026, driven by higher Amtagvi sales volume and cost optimization.
- 4
Research and Development expenses decreased by approximately 6% compared to 1Q26 due to continued operational efficiencies.
- 5
The company is reviewing its previously issued 2026 total revenue guidance of $350 million to $370 million based on strong second-quarter performance and demand trends.
- 6
The marketing authorization application for Amtagvi in Australia was approved by the Therapeutic Goods Administration (TGA), marking the third global health authority approval.
- 7
Iovance's cash position was approximately $304 million as of June 30, 2026, expected to fund operations into the second half of 2028.
Management Comments
Frederick Vogt
Second-quarter revenue reached a record $99.3 million with gross margin of 56%, driven by continued U.S. Amtagvi demand. Based on our second-quarter performance and strong demand trends, we are reviewing our previously issued 2026 revenue guidance of $350 million to $370 million and will provide an update during the third quarter. Additionally, we continue to be excited by our clinical pipeline as lifileucel advances across other solid tumor indications including metastatic non-squamous non-small-cell lung cancer (NSCLC), the new registrational SARATOGA trial in undifferentiated pleomorphic sarcoma (UPS) and dedifferentiated liposarcoma (DDLPS), and metastatic serous endometrial cancer. Continued manufacturing and operating efficiencies support our sustainable growth, accelerate progress toward profitability, and advance our clinical pipeline with first-in-class, novel products in new solid tumor indications.
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