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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and Arbutus Biopharma Corp (ABUS). Click either name above to swap in a different company.
AbCellera Biologics Inc. is the larger business by last-quarter revenue ($44.9M vs $1.1M, roughly 42.7× Arbutus Biopharma Corp). On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs -33.2%). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs -17.2%).
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.
Arbutus Biopharma Corporation is a publicly traded Canadian biopharmaceutical company with an expertise in liposomal drug delivery and RNA interference, and is developing drugs for hepatitis B infection.
ABCL vs ABUS — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $1.1M |
| Net Profit | $-8.9M | — |
| Gross Margin | — | — |
| Operating Margin | -63.7% | -503.3% |
| Net Margin | -19.9% | — |
| Revenue YoY | 788.4% | -33.2% |
| Net Profit YoY | 73.9% | — |
| EPS (diluted) | $-0.03 | $-0.01 |
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 | $44.9M | $1.1M | ||
| Q3 25 | $9.0M | $529.0K | ||
| Q2 25 | $17.1M | $10.7M | ||
| Q1 25 | $4.2M | $1.8M | ||
| Q4 24 | $5.0M | $1.6M | ||
| Q3 24 | $6.5M | $1.3M | ||
| Q2 24 | $7.3M | $1.7M | ||
| Q1 24 | $10.0M | $1.5M |
| Q4 25 | $-8.9M | — | ||
| Q3 25 | $-57.1M | $-7.7M | ||
| Q2 25 | $-34.7M | $2.5M | ||
| Q1 25 | $-45.6M | $-24.5M | ||
| Q4 24 | $-34.2M | — | ||
| Q3 24 | $-51.1M | $-19.7M | ||
| Q2 24 | $-36.9M | $-19.8M | ||
| Q1 24 | $-40.6M | $-17.9M |
| Q4 25 | -63.7% | -503.3% | ||
| Q3 25 | -851.8% | -1636.9% | ||
| Q2 25 | -290.2% | 13.9% | ||
| Q1 25 | -1479.6% | -1456.9% | ||
| Q4 24 | -1441.0% | -885.2% | ||
| Q3 24 | -1439.4% | -1601.2% | ||
| Q2 24 | -1276.2% | -1250.5% | ||
| Q1 24 | -551.5% | -1263.9% |
| Q4 25 | -19.9% | — | ||
| Q3 25 | -637.8% | -1463.5% | ||
| Q2 25 | -203.3% | 23.5% | ||
| Q1 25 | -1077.2% | -1390.4% | ||
| Q4 24 | -677.6% | — | ||
| Q3 24 | -785.4% | -1472.5% | ||
| Q2 24 | -504.3% | -1146.9% | ||
| Q1 24 | -408.0% | -1166.8% |
| Q4 25 | $-0.03 | $-0.01 | ||
| Q3 25 | $-0.19 | $-0.04 | ||
| Q2 25 | $-0.12 | $0.01 | ||
| Q1 25 | $-0.15 | $-0.13 | ||
| Q4 24 | $-0.11 | $-0.07 | ||
| Q3 24 | $-0.17 | $-0.10 | ||
| Q2 24 | $-0.13 | $-0.11 | ||
| Q1 24 | $-0.14 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $128.5M | $91.5M |
| Total DebtLower is stronger | — | $0 |
| Stockholders' EquityBook value | $966.9M | $76.6M |
| Total Assets | $1.4B | $94.6M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $91.5M | ||
| Q3 25 | $83.2M | $22.4M | ||
| Q2 25 | $92.4M | $37.4M | ||
| Q1 25 | $159.3M | $37.1M | ||
| Q4 24 | $156.3M | $122.6M | ||
| Q3 24 | $126.6M | $31.8M | ||
| Q2 24 | $148.3M | $62.8M | ||
| Q1 24 | $123.6M | $43.1M |
| Q4 25 | — | $0 | ||
| Q3 25 | — | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | — | $0 | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
| Q4 25 | $966.9M | $76.6M | ||
| Q3 25 | $964.0M | $77.4M | ||
| Q2 25 | $1.0B | $83.0M | ||
| Q1 25 | $1.0B | $79.2M | ||
| Q4 24 | $1.1B | $97.4M | ||
| Q3 24 | $1.1B | $106.9M | ||
| Q2 24 | $1.1B | $122.5M | ||
| Q1 24 | $1.1B | $114.6M |
| Q4 25 | $1.4B | $94.6M | ||
| Q3 25 | $1.4B | $97.7M | ||
| Q2 25 | $1.4B | $103.3M | ||
| Q1 25 | $1.3B | $117.0M | ||
| Q4 24 | $1.4B | $131.7M | ||
| Q3 24 | $1.4B | $140.4M | ||
| Q2 24 | $1.4B | $160.0M | ||
| Q1 24 | $1.5B | $150.3M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.00× |
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 | $-34.7M | $-4.7M |
| Free Cash FlowOCF − Capex | $-44.6M | — |
| FCF MarginFCF / Revenue | -99.4% | — |
| Capex IntensityCapex / Revenue | 21.9% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $-4.7M | ||
| Q3 25 | $-52.6M | $-5.8M | ||
| Q2 25 | $-32.4M | $-15.7M | ||
| Q1 25 | $-11.6M | $-13.4M | ||
| Q4 24 | $-8.0M | $-10.3M | ||
| Q3 24 | $-28.9M | $-20.7M | ||
| Q2 24 | $-30.0M | $-14.5M | ||
| Q1 24 | $-41.7M | $-19.3M |
| Q4 25 | $-44.6M | — | ||
| Q3 25 | $-61.5M | — | ||
| Q2 25 | $-45.8M | — | ||
| Q1 25 | $-22.2M | — | ||
| Q4 24 | $-23.6M | $-10.4M | ||
| Q3 24 | $-47.4M | — | ||
| Q2 24 | $-50.1M | $-14.5M | ||
| Q1 24 | $-65.8M | $-19.4M |
| Q4 25 | -99.4% | — | ||
| Q3 25 | -687.0% | — | ||
| Q2 25 | -267.9% | — | ||
| Q1 25 | -524.0% | — | ||
| Q4 24 | -468.0% | -660.8% | ||
| Q3 24 | -728.4% | — | ||
| Q2 24 | -683.8% | -840.4% | ||
| Q1 24 | -661.5% | -1265.7% |
| Q4 25 | 21.9% | 0.0% | ||
| Q3 25 | 99.7% | 0.0% | ||
| Q2 25 | 78.2% | 0.0% | ||
| Q1 25 | 251.1% | 0.0% | ||
| Q4 24 | 309.6% | 5.5% | ||
| Q3 24 | 284.6% | 0.0% | ||
| Q2 24 | 274.6% | 0.1% | ||
| Q1 24 | 242.5% | 6.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -6.24× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
