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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and FTC Solar, Inc. (FTCI). Click either name above to swap in a different company.
AbCellera Biologics Inc. is the larger business by last-quarter revenue ($44.9M vs $32.9M, roughly 1.4× FTC Solar, Inc.). AbCellera Biologics Inc. runs the higher net margin — -19.9% vs -110.7%, a 90.8% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs 148.9%). FTC Solar, Inc. produced more free cash flow last quarter ($-8.4M vs $-44.6M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs 61.6%).
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.
FTC Solar, Inc. is a leading global provider of advanced solar tracker systems, associated components, and supporting software for solar projects. It serves utility-scale, commercial, and industrial solar segments across key global markets, helping customers boost energy generation efficiency and lower overall project costs.
ABCL vs FTCI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $32.9M |
| Net Profit | $-8.9M | $-36.4M |
| Gross Margin | — | 14.9% |
| Operating Margin | -63.7% | -17.2% |
| Net Margin | -19.9% | -110.7% |
| Revenue YoY | 788.4% | 148.9% |
| Net Profit YoY | 73.9% | -197.4% |
| EPS (diluted) | $-0.03 | $-2.31 |
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 | $32.9M | ||
| Q3 25 | $9.0M | $26.0M | ||
| Q2 25 | $17.1M | $20.0M | ||
| Q1 25 | $4.2M | $20.8M | ||
| Q4 24 | $5.0M | $13.2M | ||
| Q3 24 | $6.5M | $10.1M | ||
| Q2 24 | $7.3M | $11.4M | ||
| Q1 24 | $10.0M | $12.6M |
| Q4 25 | $-8.9M | $-36.4M | ||
| Q3 25 | $-57.1M | $-23.9M | ||
| Q2 25 | $-34.7M | $-15.4M | ||
| Q1 25 | $-45.6M | $-3.8M | ||
| Q4 24 | — | $-12.2M | ||
| Q3 24 | $-51.1M | $-15.4M | ||
| Q2 24 | $-36.9M | $-12.2M | ||
| Q1 24 | $-40.6M | $-8.8M |
| Q4 25 | — | 14.9% | ||
| Q3 25 | — | 6.1% | ||
| Q2 25 | — | -19.6% | ||
| Q1 25 | — | -16.6% | ||
| Q4 24 | — | -29.1% | ||
| Q3 24 | — | -42.5% | ||
| Q2 24 | — | -20.5% | ||
| Q1 24 | — | -16.7% |
| Q4 25 | -63.7% | -17.2% | ||
| Q3 25 | -851.8% | -29.6% | ||
| Q2 25 | -290.2% | -57.5% | ||
| Q1 25 | -1479.6% | -50.8% | ||
| Q4 24 | — | -101.7% | ||
| Q3 24 | -1439.4% | -147.8% | ||
| Q2 24 | -1276.2% | -104.3% | ||
| Q1 24 | -551.5% | -99.3% |
| Q4 25 | -19.9% | -110.7% | ||
| Q3 25 | -637.8% | -92.0% | ||
| Q2 25 | -203.3% | -77.2% | ||
| Q1 25 | -1077.2% | -18.4% | ||
| Q4 24 | — | -92.7% | ||
| Q3 24 | -785.4% | -151.5% | ||
| Q2 24 | -504.3% | -107.1% | ||
| Q1 24 | -408.0% | -69.7% |
| Q4 25 | $-0.03 | $-2.31 | ||
| Q3 25 | $-0.19 | $-1.61 | ||
| Q2 25 | $-0.12 | $-1.18 | ||
| Q1 25 | $-0.15 | $-0.58 | ||
| Q4 24 | — | $-0.95 | ||
| Q3 24 | $-0.17 | $-1.21 | ||
| Q2 24 | $-0.13 | $-0.97 | ||
| Q1 24 | $-0.14 | $-0.70 |
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 | $21.1M |
| Total DebtLower is stronger | — | $9.9M |
| Stockholders' EquityBook value | $966.9M | $-43.0M |
| Total Assets | $1.4B | $111.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $21.1M | ||
| Q3 25 | $83.2M | $24.4M | ||
| Q2 25 | $92.4M | $3.5M | ||
| Q1 25 | $159.3M | $5.9M | ||
| Q4 24 | $156.3M | $11.2M | ||
| Q3 24 | $126.6M | $8.3M | ||
| Q2 24 | $148.3M | $10.8M | ||
| Q1 24 | $123.6M | $14.0M |
| Q4 25 | — | $9.9M | ||
| Q3 25 | — | $16.6M | ||
| Q2 25 | — | $10.9M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | — | $9.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $966.9M | $-43.0M | ||
| Q3 25 | $964.0M | $-13.7M | ||
| Q2 25 | $1.0B | $9.0M | ||
| Q1 25 | $1.0B | $15.5M | ||
| Q4 24 | $1.1B | $19.0M | ||
| Q3 24 | $1.1B | $30.4M | ||
| Q2 24 | $1.1B | $44.2M | ||
| Q1 24 | $1.1B | $55.2M |
| Q4 25 | $1.4B | $111.8M | ||
| Q3 25 | $1.4B | $111.5M | ||
| Q2 25 | $1.4B | $83.0M | ||
| Q1 25 | $1.3B | $84.1M | ||
| Q4 24 | $1.4B | $89.9M | ||
| Q3 24 | $1.4B | $91.7M | ||
| Q2 24 | $1.4B | $100.3M | ||
| Q1 24 | $1.5B | $115.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 0.65× | ||
| Q4 24 | — | 0.50× | ||
| 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 | $-8.0M |
| Free Cash FlowOCF − Capex | $-44.6M | $-8.4M |
| FCF MarginFCF / Revenue | -99.4% | -25.7% |
| Capex IntensityCapex / Revenue | 21.9% | 1.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $-34.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $-8.0M | ||
| Q3 25 | $-52.6M | $-14.6M | ||
| Q2 25 | $-32.4M | $-2.3M | ||
| Q1 25 | $-11.6M | $-8.5M | ||
| Q4 24 | $-108.6M | $-16.7M | ||
| Q3 24 | $-28.9M | $-2.4M | ||
| Q2 24 | $-30.0M | $-3.8M | ||
| Q1 24 | $-41.7M | $-11.9M |
| Q4 25 | $-44.6M | $-8.4M | ||
| Q3 25 | $-61.5M | $-15.1M | ||
| Q2 25 | $-45.8M | $-2.5M | ||
| Q1 25 | $-22.2M | $-8.6M | ||
| Q4 24 | $-187.0M | $-17.0M | ||
| Q3 24 | $-47.4M | $-2.6M | ||
| Q2 24 | $-50.1M | $-4.5M | ||
| Q1 24 | $-65.8M | $-12.3M |
| Q4 25 | -99.4% | -25.7% | ||
| Q3 25 | -687.0% | -57.9% | ||
| Q2 25 | -267.9% | -12.4% | ||
| Q1 25 | -524.0% | -41.2% | ||
| Q4 24 | -3702.8% | -128.6% | ||
| Q3 24 | -728.4% | -25.6% | ||
| Q2 24 | -683.8% | -39.2% | ||
| Q1 24 | -661.5% | -97.6% |
| Q4 25 | 21.9% | 1.3% | ||
| Q3 25 | 99.7% | 1.7% | ||
| Q2 25 | 78.2% | 0.9% | ||
| Q1 25 | 251.1% | 0.4% | ||
| Q4 24 | 1552.7% | 2.2% | ||
| Q3 24 | 284.6% | 2.2% | ||
| Q2 24 | 274.6% | 6.1% | ||
| Q1 24 | 242.5% | 3.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ABCL
Segment breakdown not available.
FTCI
| Products | $26.2M | 80% |
| Services | $6.7M | 20% |
