vs
Side-by-side financial comparison of Aardvark Therapeutics, Inc. (AARD) and AbCellera Biologics Inc. (ABCL). Click either name above to swap in a different company.
Aardvark Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel targeted therapies for inflammatory, metabolic, and orphan diseases. It advances G-protein coupled receptor-targeting pipeline candidates, serving patient populations primarily in North America and global markets via R&D partnerships.
AbCellera Biologics Inc. is a Vancouver, British Columbia-based biotechnology company that discovers and develops antibody therapeutics. The company is best known for its leading role in the Pandemic Prevention Platform, a project of DARPA's Biological Technologies Office. AbCellera utilizes a proprietary technology platform, which they claim can develop "medical countermeasures within 60 days." Its platform for single-cell screening was initially developed at the University of British Columbia.
AARD vs ABCL — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $0 | $44.9M |
| Net Profit | $-17.6M | $-8.9M |
| Gross Margin | — | — |
| Operating Margin | — | -63.7% |
| Net Margin | — | -19.9% |
| Revenue YoY | — | 788.4% |
| Net Profit YoY | — | 73.9% |
| EPS (diluted) | $-0.81 | $-0.03 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $0 | $44.9M | ||
| Q3 25 | $0 | $9.0M | ||
| Q2 25 | $0 | $17.1M | ||
| Q1 25 | $0 | $4.2M | ||
| Q4 24 | — | $5.0M | ||
| Q3 24 | — | $6.5M | ||
| Q2 24 | — | $7.3M | ||
| Q1 24 | — | $10.0M |
| Q4 25 | $-17.6M | $-8.9M | ||
| Q3 25 | $-16.3M | $-57.1M | ||
| Q2 25 | $-14.4M | $-34.7M | ||
| Q1 25 | $-9.3M | $-45.6M | ||
| Q4 24 | — | $-34.2M | ||
| Q3 24 | — | $-51.1M | ||
| Q2 24 | — | $-36.9M | ||
| Q1 24 | — | $-40.6M |
| Q4 25 | — | -63.7% | ||
| Q3 25 | — | -851.8% | ||
| Q2 25 | — | -290.2% | ||
| Q1 25 | — | -1479.6% | ||
| Q4 24 | — | -1441.0% | ||
| Q3 24 | — | -1439.4% | ||
| Q2 24 | — | -1276.2% | ||
| Q1 24 | — | -551.5% |
| Q4 25 | — | -19.9% | ||
| Q3 25 | — | -637.8% | ||
| Q2 25 | — | -203.3% | ||
| Q1 25 | — | -1077.2% | ||
| Q4 24 | — | -677.6% | ||
| Q3 24 | — | -785.4% | ||
| Q2 24 | — | -504.3% | ||
| Q1 24 | — | -408.0% |
| Q4 25 | $-0.81 | $-0.03 | ||
| Q3 25 | $-0.75 | $-0.19 | ||
| Q2 25 | $-0.66 | $-0.12 | ||
| Q1 25 | $-0.71 | $-0.15 | ||
| Q4 24 | — | $-0.11 | ||
| Q3 24 | — | $-0.17 | ||
| Q2 24 | — | $-0.13 | ||
| Q1 24 | — | $-0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $110.0M | $128.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $106.6M | $966.9M |
| Total Assets | $117.2M | $1.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.0M | $128.5M | ||
| Q3 25 | $126.3M | $83.2M | ||
| Q2 25 | $141.8M | $92.4M | ||
| Q1 25 | $151.3M | $159.3M | ||
| Q4 24 | — | $156.3M | ||
| Q3 24 | — | $126.6M | ||
| Q2 24 | — | $148.3M | ||
| Q1 24 | — | $123.6M |
| Q4 25 | $106.6M | $966.9M | ||
| Q3 25 | $122.4M | $964.0M | ||
| Q2 25 | $136.9M | $1.0B | ||
| Q1 25 | $150.7M | $1.0B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $117.2M | $1.4B | ||
| Q3 25 | $133.2M | $1.4B | ||
| Q2 25 | $147.5M | $1.4B | ||
| Q1 25 | $157.0M | $1.3B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.4B | ||
| Q2 24 | — | $1.4B | ||
| Q1 24 | — | $1.5B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-16.8M | $-34.7M |
| Free Cash FlowOCF − Capex | — | $-44.6M |
| FCF MarginFCF / Revenue | — | -99.4% |
| Capex IntensityCapex / Revenue | — | 21.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-174.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.8M | $-34.7M | ||
| Q3 25 | $-16.1M | $-52.6M | ||
| Q2 25 | $-9.8M | $-32.4M | ||
| Q1 25 | $-11.4M | $-11.6M | ||
| Q4 24 | — | $-8.0M | ||
| Q3 24 | — | $-28.9M | ||
| Q2 24 | — | $-30.0M | ||
| Q1 24 | — | $-41.7M |
| Q4 25 | — | $-44.6M | ||
| Q3 25 | $-16.1M | $-61.5M | ||
| Q2 25 | $-9.9M | $-45.8M | ||
| Q1 25 | — | $-22.2M | ||
| Q4 24 | — | $-23.6M | ||
| Q3 24 | — | $-47.4M | ||
| Q2 24 | — | $-50.1M | ||
| Q1 24 | — | $-65.8M |
| Q4 25 | — | -99.4% | ||
| Q3 25 | — | -687.0% | ||
| Q2 25 | — | -267.9% | ||
| Q1 25 | — | -524.0% | ||
| Q4 24 | — | -468.0% | ||
| Q3 24 | — | -728.4% | ||
| Q2 24 | — | -683.8% | ||
| Q1 24 | — | -661.5% |
| Q4 25 | — | 21.9% | ||
| Q3 25 | — | 99.7% | ||
| Q2 25 | — | 78.2% | ||
| Q1 25 | — | 251.1% | ||
| Q4 24 | — | 309.6% | ||
| Q3 24 | — | 284.6% | ||
| Q2 24 | — | 274.6% | ||
| Q1 24 | — | 242.5% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
