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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and Cipher Mining Inc. (CIFR). Click either name above to swap in a different company.
Cipher Mining Inc. is the larger business by last-quarter revenue ($59.7M vs $44.9M, roughly 1.3× AbCellera Biologics Inc.). AbCellera Biologics Inc. runs the higher net margin — -19.9% vs -1229.6%, a 1209.7% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs 41.4%). AbCellera Biologics Inc. produced more free cash flow last quarter ($-44.6M vs $-695.9M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs 11.4%).
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.
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
ABCL vs CIFR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $59.7M |
| Net Profit | $-8.9M | $-734.2M |
| Gross Margin | — | 59.4% |
| Operating Margin | -63.7% | -503.4% |
| Net Margin | -19.9% | -1229.6% |
| Revenue YoY | 788.4% | 41.4% |
| Net Profit YoY | 73.9% | -4293.1% |
| EPS (diluted) | $-0.03 | $-1.91 |
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 | $59.7M | ||
| Q3 25 | $9.0M | $71.7M | ||
| Q2 25 | $17.1M | $43.6M | ||
| Q1 25 | $4.2M | $49.0M | ||
| Q4 24 | $5.0M | $42.2M | ||
| Q3 24 | $6.5M | $24.1M | ||
| Q2 24 | $7.3M | $36.8M | ||
| Q1 24 | $10.0M | $48.1M |
| Q4 25 | $-8.9M | $-734.2M | ||
| Q3 25 | $-57.1M | $-3.3M | ||
| Q2 25 | $-34.7M | $-45.8M | ||
| Q1 25 | $-45.6M | $-39.0M | ||
| Q4 24 | — | $17.5M | ||
| Q3 24 | $-51.1M | $-86.8M | ||
| Q2 24 | $-36.9M | $-15.3M | ||
| Q1 24 | $-40.6M | $39.9M |
| Q4 25 | — | 59.4% | ||
| Q3 25 | — | 62.7% | ||
| Q2 25 | — | 64.8% | ||
| Q1 25 | — | 69.6% | ||
| Q4 24 | — | 56.9% | ||
| Q3 24 | — | 37.5% | ||
| Q2 24 | — | 61.2% | ||
| Q1 24 | — | 69.2% |
| Q4 25 | -63.7% | -503.4% | ||
| Q3 25 | -851.8% | -52.5% | ||
| Q2 25 | -290.2% | -103.9% | ||
| Q1 25 | -1479.6% | -77.8% | ||
| Q4 24 | — | 40.5% | ||
| Q3 24 | -1439.4% | -379.2% | ||
| Q2 24 | -1276.2% | -43.9% | ||
| Q1 24 | -551.5% | 97.2% |
| Q4 25 | -19.9% | -1229.6% | ||
| Q3 25 | -637.8% | -4.6% | ||
| Q2 25 | -203.3% | -105.1% | ||
| Q1 25 | -1077.2% | -79.6% | ||
| Q4 24 | — | 41.5% | ||
| Q3 24 | -785.4% | -359.9% | ||
| Q2 24 | -504.3% | -41.5% | ||
| Q1 24 | -408.0% | 82.9% |
| Q4 25 | $-0.03 | $-1.91 | ||
| Q3 25 | $-0.19 | $-0.01 | ||
| Q2 25 | $-0.12 | $-0.12 | ||
| Q1 25 | $-0.15 | $-0.11 | ||
| Q4 24 | — | $0.04 | ||
| Q3 24 | $-0.17 | $-0.26 | ||
| Q2 24 | $-0.13 | $-0.05 | ||
| Q1 24 | $-0.14 | $0.13 |
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 | $628.3M |
| Total DebtLower is stronger | — | $2.7B |
| Stockholders' EquityBook value | $966.9M | $805.5M |
| Total Assets | $1.4B | $4.3B |
| Debt / EquityLower = less leverage | — | 3.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $628.3M | ||
| Q3 25 | $83.2M | $1.2B | ||
| Q2 25 | $92.4M | $62.7M | ||
| Q1 25 | $159.3M | $23.2M | ||
| Q4 24 | $156.3M | $5.6M | ||
| Q3 24 | $126.6M | $25.3M | ||
| Q2 24 | $148.3M | $122.6M | ||
| Q1 24 | $123.6M | $88.7M |
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $167.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $966.9M | $805.5M | ||
| Q3 25 | $964.0M | $783.2M | ||
| Q2 25 | $1.0B | $748.9M | ||
| Q1 25 | $1.0B | $734.8M | ||
| Q4 24 | $1.1B | $682.0M | ||
| Q3 24 | $1.1B | $672.0M | ||
| Q2 24 | $1.1B | $690.8M | ||
| Q1 24 | $1.1B | $600.9M |
| Q4 25 | $1.4B | $4.3B | ||
| Q3 25 | $1.4B | $2.8B | ||
| Q2 25 | $1.4B | $1.0B | ||
| Q1 25 | $1.3B | $913.8M | ||
| Q4 24 | $1.4B | $855.4M | ||
| Q3 24 | $1.4B | $775.4M | ||
| Q2 24 | $1.4B | $775.6M | ||
| Q1 24 | $1.5B | $677.1M |
| Q4 25 | — | 3.37× | ||
| Q3 25 | — | 1.31× | ||
| Q2 25 | — | 0.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-207.9M |
| Free Cash FlowOCF − Capex | $-44.6M | $-695.9M |
| FCF MarginFCF / Revenue | -99.4% | -1165.4% |
| Capex IntensityCapex / Revenue | 21.9% | 817.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $-1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $-207.9M | ||
| Q3 25 | $-52.6M | $-50.1M | ||
| Q2 25 | $-32.4M | $-56.2M | ||
| Q1 25 | $-11.6M | $-47.2M | ||
| Q4 24 | $-108.6M | $-87.5M | ||
| Q3 24 | $-28.9M | $-6.5M | ||
| Q2 24 | $-30.0M | $-25.4M | ||
| Q1 24 | $-41.7M | $-26.6M |
| Q4 25 | $-44.6M | $-695.9M | ||
| Q3 25 | $-61.5M | $-256.2M | ||
| Q2 25 | $-45.8M | $-87.5M | ||
| Q1 25 | $-22.2M | $-71.8M | ||
| Q4 24 | $-187.0M | $-227.0M | ||
| Q3 24 | $-47.4M | $-83.2M | ||
| Q2 24 | $-50.1M | $-33.2M | ||
| Q1 24 | $-65.8M | $-34.5M |
| Q4 25 | -99.4% | -1165.4% | ||
| Q3 25 | -687.0% | -357.3% | ||
| Q2 25 | -267.9% | -200.9% | ||
| Q1 25 | -524.0% | -146.7% | ||
| Q4 24 | -3702.8% | -537.6% | ||
| Q3 24 | -728.4% | -345.0% | ||
| Q2 24 | -683.8% | -90.2% | ||
| Q1 24 | -661.5% | -71.7% |
| Q4 25 | 21.9% | 817.1% | ||
| Q3 25 | 99.7% | 287.5% | ||
| Q2 25 | 78.2% | 71.8% | ||
| Q1 25 | 251.1% | 50.2% | ||
| Q4 24 | 1552.7% | 330.4% | ||
| Q3 24 | 284.6% | 317.8% | ||
| Q2 24 | 274.6% | 21.4% | ||
| Q1 24 | 242.5% | 16.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -5.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.67× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
