IOVANCE BIOTHERAPEUTICS, INC.

For the period ended Dec 31, 2025. Filed Feb 24, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 24, 2026

IOVA$8.08-1.1%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

(In thousands)


· · · Years Ended December 31,
· · 2025 · · 2024 · · 2023
Cash Flows from Operating Activities · · · · · · ·
Net loss	$(390,978)	$(372,177)	$(444,037)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation expense	61,575	109,627	62,625
Unrealized foreign exchange loss	(238)	(175)	70
Amortization of intangible assets	23,077	26,379	9,849
Amortization of right of use asset	11,385	10,437	11,710
Depreciation and amortization of property and equipment	12,862	11,255	11,568
Deferred tax (benefit) expense	(2,071)	(2,828)	(3,479)
Excess and obsolescence reserve	13,404
Accretion of discounts and premiums on investments	(7,202)	(10,261)	(3,605)
Loss on asset disposals	44	7,355	—
Gain on derecognition of lease assets and liabilities	—	(5,568)	—
Changes in assets and liabilities:
Prepaid expenses, other assets and long-term assets	(8,023)	(2,113)	(10,062)
Trade accounts receivable	(13,108)	(69,189)	(149)
Inventory	(14,211)	(44,382)	(10,118)
Operating lease liabilities	(10,900)	(12,074)	(10,794)
Accounts payable	(6,661)	(7,841)	4,828
Accrued expenses and other liabilities	28,637	8,578	19,774
Net cash used in operating activities	(302,408)	(352,977)	(361,820)

Cash Flows from Investing Activities
Maturities of investments	400,000	428,000	285,583
Purchase of investments	(318,668)	(460,769)	(205,902)
Cash paid for acquisition, including contingent consideration, net of cash acquired	—	(52,573)	(212,633)
Purchase of property and equipment	(33,836)	(11,069)	(22,290)
Net cash provided by (used in) investing activities	47,496	(96,411)	(155,242)

Cash Flows from Financing Activities
Tax payments related to shares withheld for vested restricted stock units	(7,059)	(12,858)	(2,795)
Proceeds from the issuance of common stock under employee stock purchase plan	1,510	2,952	2,410
Proceeds from the issuance of common stock upon exercise of options	15	3,266	63
Proceeds from the issuance of common stock, net	306,307	397,304	463,281
Net cash provided by financing activities	300,773	390,664	462,959
Effect of foreign exchange rate changes	1,144	(541)	(2,740)
Net increase (decrease) in cash, cash equivalents and restricted cash	47,005	(59,265)	(56,843)
Cash, Cash Equivalents and Restricted Cash Beginning of Period	122,053	181,318	238,161
Cash, Cash Equivalents and Restricted Cash End of Period	$169,058	$122,053	$181,318

Supplemental disclosure of non-cash investing and financing activities:
Fair value of net assets acquired	$—	$—	$222,637
Net unrealized loss on investments	54	78	940
Acquisition of property and equipment included in accounts payable and accrued expenses	8,501	7,365	4,062
Intangible asset and deferred tax liability arising from contingent consideration	—	17,495	—
Conversion of convertible preferred stock to common stock	1	—	—
Lease liabilities arising from obtaining right-of-use asset from new leases	—	2,306	177
Increase / (decrease) in lease liabilities due to obtaining/(reduction in) right-of-use assets from lease modifications	2,084	(7,833)	1,033

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