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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and LandBridge Co LLC (LB). Click either name above to swap in a different company.
LandBridge Co LLC is the larger business by last-quarter revenue ($56.8M vs $44.9M, roughly 1.3× AbCellera Biologics Inc.). LandBridge Co LLC runs the higher net margin — 14.2% vs -19.9%, a 34.1% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs 55.6%). LandBridge Co LLC produced more free cash flow last quarter ($122.0M vs $-44.6M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs 72.8%).
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 LB — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $56.8M |
| Net Profit | $-8.9M | $8.1M |
| Gross Margin | — | — |
| Operating Margin | -63.7% | 60.0% |
| Net Margin | -19.9% | 14.2% |
| Revenue YoY | 788.4% | 55.6% |
| Net Profit YoY | 73.9% | -83.7% |
| EPS (diluted) | $-0.03 | $0.24 |
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 | $56.8M | ||
| Q3 25 | $9.0M | $50.8M | ||
| Q2 25 | $17.1M | $47.5M | ||
| Q1 25 | $4.2M | $44.0M | ||
| Q4 24 | $5.0M | $36.5M | ||
| Q3 24 | $6.5M | $28.5M | ||
| Q2 24 | $7.3M | $26.0M | ||
| Q1 24 | $10.0M | $19.0M |
| Q4 25 | $-8.9M | $8.1M | ||
| Q3 25 | $-57.1M | $8.1M | ||
| Q2 25 | $-34.7M | $7.5M | ||
| Q1 25 | $-45.6M | $6.5M | ||
| Q4 24 | — | $49.3M | ||
| Q3 24 | $-51.1M | $2.7M | ||
| Q2 24 | $-36.9M | $-57.7M | ||
| Q1 24 | $-40.6M | $10.8M |
| Q4 25 | -63.7% | 60.0% | ||
| Q3 25 | -851.8% | 60.8% | ||
| Q2 25 | -290.2% | 60.0% | ||
| Q1 25 | -1479.6% | 57.0% | ||
| Q4 24 | — | 49.4% | ||
| Q3 24 | -1439.4% | 11.2% | ||
| Q2 24 | -1276.2% | -197.4% | ||
| Q1 24 | -551.5% | 71.1% |
| Q4 25 | -19.9% | 14.2% | ||
| Q3 25 | -637.8% | 15.9% | ||
| Q2 25 | -203.3% | 15.8% | ||
| Q1 25 | -1077.2% | 14.7% | ||
| Q4 24 | — | 135.2% | ||
| Q3 24 | -785.4% | 9.3% | ||
| Q2 24 | -504.3% | -222.1% | ||
| Q1 24 | -408.0% | 56.7% |
| Q4 25 | $-0.03 | $0.24 | ||
| Q3 25 | $-0.19 | $0.26 | ||
| Q2 25 | $-0.12 | $0.24 | ||
| Q1 25 | $-0.15 | $0.20 | ||
| Q4 24 | — | — | ||
| Q3 24 | $-0.17 | $-0.04 | ||
| Q2 24 | $-0.13 | — | ||
| Q1 24 | $-0.14 | — |
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 | $30.7M |
| Total DebtLower is stronger | — | $570.7M |
| Stockholders' EquityBook value | $966.9M | $340.3M |
| Total Assets | $1.4B | $1.4B |
| Debt / EquityLower = less leverage | — | 1.68× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $30.7M | ||
| Q3 25 | $83.2M | $28.3M | ||
| Q2 25 | $92.4M | $20.3M | ||
| Q1 25 | $159.3M | $14.9M | ||
| Q4 24 | $156.3M | $37.0M | ||
| Q3 24 | $126.6M | $14.4M | ||
| Q2 24 | $148.3M | $24.6M | ||
| Q1 24 | $123.6M | — |
| Q4 25 | — | $570.7M | ||
| Q3 25 | — | $366.1M | ||
| Q2 25 | — | $370.9M | ||
| Q1 25 | — | $375.5M | ||
| Q4 24 | — | $385.5M | ||
| Q3 24 | — | $242.4M | ||
| Q2 24 | — | $360.8M | ||
| Q1 24 | — | — |
| Q4 25 | $966.9M | $340.3M | ||
| Q3 25 | $964.0M | $272.0M | ||
| Q2 25 | $1.0B | $266.4M | ||
| Q1 25 | $1.0B | $217.0M | ||
| Q4 24 | $1.1B | $211.8M | ||
| Q3 24 | $1.1B | $97.2M | ||
| Q2 24 | $1.1B | $296.4M | ||
| Q1 24 | $1.1B | $162.3M |
| Q4 25 | $1.4B | $1.4B | ||
| Q3 25 | $1.4B | $1.1B | ||
| Q2 25 | $1.4B | $1.1B | ||
| Q1 25 | $1.3B | $1.0B | ||
| Q4 24 | $1.4B | $1.0B | ||
| Q3 24 | $1.4B | $689.9M | ||
| Q2 24 | $1.4B | $710.5M | ||
| Q1 24 | $1.5B | — |
| Q4 25 | — | 1.68× | ||
| Q3 25 | — | 1.35× | ||
| Q2 25 | — | 1.39× | ||
| Q1 25 | — | 1.73× | ||
| Q4 24 | — | 1.82× | ||
| Q3 24 | — | 2.49× | ||
| Q2 24 | — | 1.22× | ||
| 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 | $126.3M |
| Free Cash FlowOCF − Capex | $-44.6M | $122.0M |
| FCF MarginFCF / Revenue | -99.4% | 214.9% |
| Capex IntensityCapex / Revenue | 21.9% | 7.5% |
| Cash ConversionOCF / Net Profit | — | 15.68× |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $207.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $126.3M | ||
| Q3 25 | $-52.6M | $34.9M | ||
| Q2 25 | $-32.4M | $37.3M | ||
| Q1 25 | $-11.6M | $15.9M | ||
| Q4 24 | $-108.6M | $67.6M | ||
| Q3 24 | $-28.9M | $7.5M | ||
| Q2 24 | $-30.0M | $16.0M | ||
| Q1 24 | $-41.7M | $17.2M |
| Q4 25 | $-44.6M | $122.0M | ||
| Q3 25 | $-61.5M | $33.7M | ||
| Q2 25 | $-45.8M | $36.1M | ||
| Q1 25 | $-22.2M | $15.8M | ||
| Q4 24 | $-187.0M | $66.7M | ||
| Q3 24 | $-47.4M | $7.1M | ||
| Q2 24 | $-50.1M | $15.7M | ||
| Q1 24 | $-65.8M | $17.1M |
| Q4 25 | -99.4% | 214.9% | ||
| Q3 25 | -687.0% | 66.3% | ||
| Q2 25 | -267.9% | 75.9% | ||
| Q1 25 | -524.0% | 36.0% | ||
| Q4 24 | -3702.8% | 182.6% | ||
| Q3 24 | -728.4% | 25.1% | ||
| Q2 24 | -683.8% | 60.4% | ||
| Q1 24 | -661.5% | 90.1% |
| Q4 25 | 21.9% | 7.5% | ||
| Q3 25 | 99.7% | 2.3% | ||
| Q2 25 | 78.2% | 2.6% | ||
| Q1 25 | 251.1% | 0.2% | ||
| Q4 24 | 1552.7% | 2.7% | ||
| Q3 24 | 284.6% | 1.1% | ||
| Q2 24 | 274.6% | 1.4% | ||
| Q1 24 | 242.5% | 0.5% |
| Q4 25 | — | 15.68× | ||
| Q3 25 | — | 4.31× | ||
| Q2 25 | — | 4.98× | ||
| Q1 25 | — | 2.46× | ||
| Q4 24 | — | 1.37× | ||
| Q3 24 | — | 2.80× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
