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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and ADAMAS TRUST, INC. (ADAM). Click either name above to swap in a different company.
AbCellera Biologics Inc. is the larger business by last-quarter revenue ($44.9M vs $43.2M, roughly 1.0× ADAMAS TRUST, INC.). ADAMAS TRUST, INC. runs the higher net margin — 124.0% vs -19.9%, a 143.9% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs 61.6%). ADAMAS TRUST, INC. produced more free cash flow last quarter ($125.9M vs $-44.6M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs 55.5%).
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.
ABCL vs ADAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $43.2M |
| Net Profit | $-8.9M | $53.5M |
| Gross Margin | — | — |
| Operating Margin | -63.7% | — |
| Net Margin | -19.9% | 124.0% |
| Revenue YoY | 788.4% | 61.6% |
| Net Profit YoY | 73.9% | 270.5% |
| EPS (diluted) | $-0.03 | $0.45 |
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 | $43.2M | ||
| Q3 25 | $9.0M | $36.6M | ||
| Q2 25 | $17.1M | $36.4M | ||
| Q1 25 | $4.2M | $33.1M | ||
| Q4 24 | $5.0M | $26.7M | ||
| Q3 24 | $6.5M | $20.2M | ||
| Q2 24 | $7.3M | $19.0M | ||
| Q1 24 | $10.0M | $17.9M |
| Q4 25 | $-8.9M | $53.5M | ||
| Q3 25 | $-57.1M | $44.8M | ||
| Q2 25 | $-34.7M | $8.5M | ||
| Q1 25 | $-45.6M | $42.2M | ||
| Q4 24 | — | $-31.4M | ||
| Q3 24 | $-51.1M | $42.8M | ||
| Q2 24 | $-36.9M | $-15.6M | ||
| Q1 24 | $-40.6M | $-57.9M |
| Q4 25 | -63.7% | — | ||
| Q3 25 | -851.8% | — | ||
| Q2 25 | -290.2% | 11.7% | ||
| Q1 25 | -1479.6% | — | ||
| Q4 24 | — | -119.0% | ||
| Q3 24 | -1439.4% | — | ||
| Q2 24 | -1276.2% | -124.7% | ||
| Q1 24 | -551.5% | -448.8% |
| Q4 25 | -19.9% | 124.0% | ||
| Q3 25 | -637.8% | 122.5% | ||
| Q2 25 | -203.3% | 23.4% | ||
| Q1 25 | -1077.2% | 127.4% | ||
| Q4 24 | — | -117.5% | ||
| Q3 24 | -785.4% | 211.7% | ||
| Q2 24 | -504.3% | -81.9% | ||
| Q1 24 | -408.0% | -324.1% |
| Q4 25 | $-0.03 | $0.45 | ||
| Q3 25 | $-0.19 | $0.36 | ||
| Q2 25 | $-0.12 | $-0.04 | ||
| Q1 25 | $-0.15 | $0.33 | ||
| Q4 24 | — | $-0.46 | ||
| Q3 24 | $-0.17 | $0.36 | ||
| Q2 24 | $-0.13 | $-0.29 | ||
| Q1 24 | $-0.14 | $-0.75 |
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 | $210.3M |
| Total DebtLower is stronger | — | $735.8M |
| Stockholders' EquityBook value | $966.9M | $1.4B |
| Total Assets | $1.4B | $12.6B |
| Debt / EquityLower = less leverage | — | 0.52× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $210.3M | ||
| Q3 25 | $83.2M | $185.3M | ||
| Q2 25 | $92.4M | $160.4M | ||
| Q1 25 | $159.3M | $177.1M | ||
| Q4 24 | $156.3M | $167.4M | ||
| Q3 24 | $126.6M | $195.1M | ||
| Q2 24 | $148.3M | $235.5M | ||
| Q1 24 | $123.6M | $226.9M |
| Q4 25 | — | $735.8M | ||
| Q3 25 | — | $766.6M | ||
| Q2 25 | — | $653.0M | ||
| Q1 25 | — | $654.4M | ||
| Q4 24 | — | $573.2M | ||
| Q3 24 | — | $699.4M | ||
| Q2 24 | — | $800.7M | ||
| Q1 24 | — | $1.0B |
| Q4 25 | $966.9M | $1.4B | ||
| Q3 25 | $964.0M | $1.4B | ||
| Q2 25 | $1.0B | $1.4B | ||
| Q1 25 | $1.0B | $1.4B | ||
| Q4 24 | $1.1B | $1.4B | ||
| Q3 24 | $1.1B | $1.4B | ||
| Q2 24 | $1.1B | $1.4B | ||
| Q1 24 | $1.1B | $1.5B |
| Q4 25 | $1.4B | $12.6B | ||
| Q3 25 | $1.4B | $12.4B | ||
| Q2 25 | $1.4B | $10.6B | ||
| Q1 25 | $1.3B | $10.0B | ||
| Q4 24 | $1.4B | $9.2B | ||
| Q3 24 | $1.4B | $8.9B | ||
| Q2 24 | $1.4B | $8.2B | ||
| Q1 24 | $1.5B | $7.4B |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.55× | ||
| Q2 25 | — | 0.47× | ||
| Q1 25 | — | 0.47× | ||
| Q4 24 | — | 0.41× | ||
| Q3 24 | — | 0.48× | ||
| Q2 24 | — | 0.56× | ||
| Q1 24 | — | 0.67× |
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 | $134.0M |
| Free Cash FlowOCF − Capex | $-44.6M | $125.9M |
| FCF MarginFCF / Revenue | -99.4% | 291.6% |
| Capex IntensityCapex / Revenue | 21.9% | 18.9% |
| Cash ConversionOCF / Net Profit | — | 2.50× |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $134.0M | ||
| Q3 25 | $-52.6M | $6.9M | ||
| Q2 25 | $-32.4M | $39.2M | ||
| Q1 25 | $-11.6M | $25.8M | ||
| Q4 24 | $-108.6M | $14.1M | ||
| Q3 24 | $-28.9M | $-922.0K | ||
| Q2 24 | $-30.0M | $-993.0K | ||
| Q1 24 | $-41.7M | $-13.1M |
| Q4 25 | $-44.6M | $125.9M | ||
| Q3 25 | $-61.5M | — | ||
| Q2 25 | $-45.8M | — | ||
| Q1 25 | $-22.2M | — | ||
| Q4 24 | $-187.0M | $-10.6M | ||
| Q3 24 | $-47.4M | $-8.6M | ||
| Q2 24 | $-50.1M | $-8.6M | ||
| Q1 24 | $-65.8M | $-19.1M |
| Q4 25 | -99.4% | 291.6% | ||
| Q3 25 | -687.0% | — | ||
| Q2 25 | -267.9% | — | ||
| Q1 25 | -524.0% | — | ||
| Q4 24 | -3702.8% | -39.6% | ||
| Q3 24 | -728.4% | -42.3% | ||
| Q2 24 | -683.8% | -44.9% | ||
| Q1 24 | -661.5% | -107.0% |
| Q4 25 | 21.9% | 18.9% | ||
| Q3 25 | 99.7% | — | ||
| Q2 25 | 78.2% | — | ||
| Q1 25 | 251.1% | — | ||
| Q4 24 | 1552.7% | 92.3% | ||
| Q3 24 | 284.6% | 37.7% | ||
| Q2 24 | 274.6% | 39.7% | ||
| Q1 24 | 242.5% | 33.5% |
| Q4 25 | — | 2.50× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 4.59× | ||
| Q1 25 | — | 0.61× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.02× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ABCL
Segment breakdown not available.
ADAM
| Other | $19.6M | 45% |
| Constructive Loans LLC | $14.4M | 33% |
| Multifamily | $9.1M | 21% |
