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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and C3.ai, Inc. (AI). Click either name above to swap in a different company.
C3.ai, Inc. is the larger business by last-quarter revenue ($75.1M vs $44.9M, roughly 1.7× AbCellera Biologics Inc.). AbCellera Biologics Inc. runs the higher net margin — -19.9% vs -139.3%, a 119.3% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs -20.3%). AbCellera Biologics Inc. produced more free cash flow last quarter ($-44.6M vs $-46.9M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs -2.1%).
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.
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
ABCL vs AI — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $75.1M |
| Net Profit | $-8.9M | $-104.7M |
| Gross Margin | — | 40.4% |
| Operating Margin | -63.7% | -149.2% |
| Net Margin | -19.9% | -139.3% |
| Revenue YoY | 788.4% | -20.3% |
| Net Profit YoY | 73.9% | -58.7% |
| EPS (diluted) | $-0.03 | $-0.75 |
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 | $75.1M | ||
| Q3 25 | $9.0M | $70.3M | ||
| Q2 25 | $17.1M | $108.7M | ||
| Q1 25 | $4.2M | $98.8M | ||
| Q4 24 | $5.0M | $94.3M | ||
| Q3 24 | $6.5M | $87.2M | ||
| Q2 24 | $7.3M | $86.6M | ||
| Q1 24 | $10.0M | $78.4M |
| Q4 25 | $-8.9M | $-104.7M | ||
| Q3 25 | $-57.1M | $-116.8M | ||
| Q2 25 | $-34.7M | $-79.7M | ||
| Q1 25 | $-45.6M | $-80.2M | ||
| Q4 24 | — | $-66.0M | ||
| Q3 24 | $-51.1M | $-62.8M | ||
| Q2 24 | $-36.9M | $-72.9M | ||
| Q1 24 | $-40.6M | $-72.6M |
| Q4 25 | — | 40.4% | ||
| Q3 25 | — | 37.6% | ||
| Q2 25 | — | 62.1% | ||
| Q1 25 | — | 59.1% | ||
| Q4 24 | — | 61.3% | ||
| Q3 24 | — | 59.8% | ||
| Q2 24 | — | 59.6% | ||
| Q1 24 | — | 57.8% |
| Q4 25 | -63.7% | -149.2% | ||
| Q3 25 | -851.8% | -177.7% | ||
| Q2 25 | -290.2% | -81.8% | ||
| Q1 25 | -1479.6% | -88.7% | ||
| Q4 24 | — | -79.8% | ||
| Q3 24 | -1439.4% | -83.2% | ||
| Q2 24 | -1276.2% | -95.1% | ||
| Q1 24 | -551.5% | -105.3% |
| Q4 25 | -19.9% | -139.3% | ||
| Q3 25 | -637.8% | -166.2% | ||
| Q2 25 | -203.3% | -73.3% | ||
| Q1 25 | -1077.2% | -81.2% | ||
| Q4 24 | — | -69.9% | ||
| Q3 24 | -785.4% | -72.0% | ||
| Q2 24 | -504.3% | -84.2% | ||
| Q1 24 | -408.0% | -92.6% |
| Q4 25 | $-0.03 | $-0.75 | ||
| Q3 25 | $-0.19 | $-0.86 | ||
| Q2 25 | $-0.12 | $-0.60 | ||
| Q1 25 | $-0.15 | $-0.62 | ||
| Q4 24 | — | $-0.52 | ||
| Q3 24 | $-0.17 | $-0.50 | ||
| Q2 24 | $-0.13 | $-0.59 | ||
| Q1 24 | $-0.14 | $-0.60 |
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 | $675.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $966.9M | $771.9M |
| Total Assets | $1.4B | $961.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $675.0M | ||
| Q3 25 | $83.2M | $711.9M | ||
| Q2 25 | $92.4M | $742.7M | ||
| Q1 25 | $159.3M | $724.3M | ||
| Q4 24 | $156.3M | $730.4M | ||
| Q3 24 | $126.6M | $762.5M | ||
| Q2 24 | $148.3M | $750.4M | ||
| Q1 24 | $123.6M | $723.3M |
| Q4 25 | $966.9M | $771.9M | ||
| Q3 25 | $964.0M | $798.8M | ||
| Q2 25 | $1.0B | $838.3M | ||
| Q1 25 | $1.0B | $860.2M | ||
| Q4 24 | $1.1B | $859.0M | ||
| Q3 24 | $1.1B | $874.9M | ||
| Q2 24 | $1.1B | $873.4M | ||
| Q1 24 | $1.1B | $898.0M |
| Q4 25 | $1.4B | $961.3M | ||
| Q3 25 | $1.4B | $968.7M | ||
| Q2 25 | $1.4B | $1.0B | ||
| Q1 25 | $1.3B | $1.1B | ||
| Q4 24 | $1.4B | $1.0B | ||
| Q3 24 | $1.4B | $1.1B | ||
| Q2 24 | $1.4B | $1.0B | ||
| Q1 24 | $1.5B | $1.1B |
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 | $-46.5M |
| Free Cash FlowOCF − Capex | $-44.6M | $-46.9M |
| FCF MarginFCF / Revenue | -99.4% | -62.4% |
| Capex IntensityCapex / Revenue | 21.9% | 0.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $-93.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $-46.5M | ||
| Q3 25 | $-52.6M | $-33.5M | ||
| Q2 25 | $-32.4M | $11.3M | ||
| Q1 25 | $-11.6M | $-22.0M | ||
| Q4 24 | $-108.6M | $-38.7M | ||
| Q3 24 | $-28.9M | $8.0M | ||
| Q2 24 | $-30.0M | $21.3M | ||
| Q1 24 | $-41.7M | $-39.1M |
| Q4 25 | $-44.6M | $-46.9M | ||
| Q3 25 | $-61.5M | $-34.3M | ||
| Q2 25 | $-45.8M | $10.3M | ||
| Q1 25 | $-22.2M | $-22.4M | ||
| Q4 24 | $-187.0M | $-39.5M | ||
| Q3 24 | $-47.4M | $7.1M | ||
| Q2 24 | $-50.1M | $18.8M | ||
| Q1 24 | $-65.8M | $-45.1M |
| Q4 25 | -99.4% | -62.4% | ||
| Q3 25 | -687.0% | -48.8% | ||
| Q2 25 | -267.9% | 9.5% | ||
| Q1 25 | -524.0% | -22.7% | ||
| Q4 24 | -3702.8% | -41.9% | ||
| Q3 24 | -728.4% | 8.2% | ||
| Q2 24 | -683.8% | 21.7% | ||
| Q1 24 | -661.5% | -57.6% |
| Q4 25 | 21.9% | 0.5% | ||
| Q3 25 | 99.7% | 1.1% | ||
| Q2 25 | 78.2% | 0.9% | ||
| Q1 25 | 251.1% | 0.4% | ||
| Q4 24 | 1552.7% | 0.9% | ||
| Q3 24 | 284.6% | 1.1% | ||
| Q2 24 | 274.6% | 2.9% | ||
| Q1 24 | 242.5% | 7.8% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ABCL
Segment breakdown not available.
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
