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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and Core Scientific, Inc. (CORZ). Click either name above to swap in a different company.
Core Scientific, Inc. is the larger business by last-quarter revenue ($79.8M vs $44.9M, roughly 1.8× AbCellera Biologics Inc.). Core Scientific, Inc. runs the higher net margin — 268.5% vs -19.9%, a 288.4% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs -16.0%). AbCellera Biologics Inc. produced more free cash flow last quarter ($-44.6M vs $-450.8M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs -33.3%).
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.
Core Scientific is a leading digital asset and high-performance computing infrastructure provider. It operates large energy-efficient data centers across North America, offering cryptocurrency mining services, colocation hosting for blockchain and AI clients, and custom high-performance computing solutions for enterprise tech segments.
ABCL vs CORZ — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $79.8M |
| Net Profit | $-8.9M | $214.2M |
| Gross Margin | — | 26.0% |
| Operating Margin | -63.7% | -149.5% |
| Net Margin | -19.9% | 268.5% |
| Revenue YoY | 788.4% | -16.0% |
| Net Profit YoY | 73.9% | 180.6% |
| EPS (diluted) | $-0.03 | $-1.63 |
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 | $79.8M | ||
| Q3 25 | $9.0M | $81.1M | ||
| Q2 25 | $17.1M | $78.6M | ||
| Q1 25 | $4.2M | $79.5M | ||
| Q4 24 | $5.0M | $94.9M | ||
| Q3 24 | $6.5M | $95.4M | ||
| Q2 24 | $7.3M | $141.1M | ||
| Q1 24 | $10.0M | $179.3M |
| Q4 25 | $-8.9M | $214.2M | ||
| Q3 25 | $-57.1M | $-144.0M | ||
| Q2 25 | $-34.7M | $-936.8M | ||
| Q1 25 | $-45.6M | $576.3M | ||
| Q4 24 | — | $-265.5M | ||
| Q3 24 | $-51.1M | $-455.3M | ||
| Q2 24 | $-36.9M | $-902.2M | ||
| Q1 24 | $-40.6M | $210.7M |
| Q4 25 | — | 26.0% | ||
| Q3 25 | — | 4.8% | ||
| Q2 25 | — | 6.4% | ||
| Q1 25 | — | 10.3% | ||
| Q4 24 | — | 5.0% | ||
| Q3 24 | — | -0.2% | ||
| Q2 24 | — | 27.5% | ||
| Q1 24 | — | 43.3% |
| Q4 25 | -63.7% | -149.5% | ||
| Q3 25 | -851.8% | -67.6% | ||
| Q2 25 | -290.2% | -33.4% | ||
| Q1 25 | -1479.6% | -59.1% | ||
| Q4 24 | — | -41.9% | ||
| Q3 24 | -1439.4% | -43.2% | ||
| Q2 24 | -1276.2% | -64.3% | ||
| Q1 24 | -551.5% | 30.8% |
| Q4 25 | -19.9% | 268.5% | ||
| Q3 25 | -637.8% | -177.6% | ||
| Q2 25 | -203.3% | -1191.4% | ||
| Q1 25 | -1077.2% | 724.6% | ||
| Q4 24 | — | -279.7% | ||
| Q3 24 | -785.4% | -477.4% | ||
| Q2 24 | -504.3% | -639.4% | ||
| Q1 24 | -408.0% | 117.5% |
| Q4 25 | $-0.03 | $-1.63 | ||
| Q3 25 | $-0.19 | $-0.45 | ||
| Q2 25 | $-0.12 | $-0.04 | ||
| Q1 25 | $-0.15 | $1.24 | ||
| Q4 24 | — | $0.51 | ||
| Q3 24 | $-0.17 | $-1.17 | ||
| Q2 24 | $-0.13 | $-5.05 | ||
| Q1 24 | $-0.14 | $0.78 |
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 | $311.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $966.9M | $-962.7M |
| Total Assets | $1.4B | $2.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $311.4M | ||
| Q3 25 | $83.2M | $453.4M | ||
| Q2 25 | $92.4M | $581.3M | ||
| Q1 25 | $159.3M | $697.9M | ||
| Q4 24 | $156.3M | $836.2M | ||
| Q3 24 | $126.6M | $253.0M | ||
| Q2 24 | $148.3M | $96.1M | ||
| Q1 24 | $123.6M | $98.1M |
| Q4 25 | $966.9M | $-962.7M | ||
| Q3 25 | $964.0M | $-1.3B | ||
| Q2 25 | $1.0B | $-1.2B | ||
| Q1 25 | $1.0B | $-308.8M | ||
| Q4 24 | $1.1B | $-943.0M | ||
| Q3 24 | $1.1B | $-826.7M | ||
| Q2 24 | $1.1B | $-1.2B | ||
| Q1 24 | $1.1B | $-318.5M |
| Q4 25 | $1.4B | $2.3B | ||
| Q3 25 | $1.4B | $2.2B | ||
| Q2 25 | $1.4B | $1.9B | ||
| Q1 25 | $1.3B | $1.5B | ||
| Q4 24 | $1.4B | $1.5B | ||
| Q3 24 | $1.4B | $824.6M | ||
| Q2 24 | $1.4B | $664.2M | ||
| Q1 24 | $1.5B | $814.0M |
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 | $278.3M |
| Free Cash FlowOCF − Capex | $-44.6M | $-450.8M |
| FCF MarginFCF / Revenue | -99.4% | -565.1% |
| Capex IntensityCapex / Revenue | 21.9% | 914.0% |
| Cash ConversionOCF / Net Profit | — | 1.30× |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $-779.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $278.3M | ||
| Q3 25 | $-52.6M | $131.8M | ||
| Q2 25 | $-32.4M | $34.0M | ||
| Q1 25 | $-11.6M | $-45.0M | ||
| Q4 24 | $-108.6M | $42.9M | ||
| Q3 24 | $-28.9M | $5.7M | ||
| Q2 24 | $-30.0M | $1.2M | ||
| Q1 24 | $-41.7M | $22.2M |
| Q4 25 | $-44.6M | $-450.8M | ||
| Q3 25 | $-61.5M | $-112.7M | ||
| Q2 25 | $-45.8M | $-87.3M | ||
| Q1 25 | $-22.2M | $-129.0M | ||
| Q4 24 | $-187.0M | $-52.1M | ||
| Q3 24 | $-47.4M | $-25.5M | ||
| Q2 24 | $-50.1M | $-1.9M | ||
| Q1 24 | $-65.8M | $-9.7M |
| Q4 25 | -99.4% | -565.1% | ||
| Q3 25 | -687.0% | -139.0% | ||
| Q2 25 | -267.9% | -111.0% | ||
| Q1 25 | -524.0% | -162.2% | ||
| Q4 24 | -3702.8% | -54.8% | ||
| Q3 24 | -728.4% | -26.7% | ||
| Q2 24 | -683.8% | -1.4% | ||
| Q1 24 | -661.5% | -5.4% |
| Q4 25 | 21.9% | 914.0% | ||
| Q3 25 | 99.7% | 301.5% | ||
| Q2 25 | 78.2% | 154.2% | ||
| Q1 25 | 251.1% | 105.6% | ||
| Q4 24 | 1552.7% | 100.0% | ||
| Q3 24 | 284.6% | 32.7% | ||
| Q2 24 | 274.6% | 2.2% | ||
| Q1 24 | 242.5% | 17.8% |
| Q4 25 | — | 1.30× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.08× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.11× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ABCL
Segment breakdown not available.
CORZ
| Other | $36.3M | 46% |
| Digital Asset Self Mining Service | $31.8M | 40% |
| Colocation Service | $11.6M | 15% |
