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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and NELNET INC (NNI). Click either name above to swap in a different company.
AbCellera Biologics Inc. is the larger business by last-quarter revenue ($44.9M vs $33.5M, roughly 1.3× NELNET INC). NELNET INC runs the higher net margin — 172.3% vs -19.9%, a 192.2% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs 79.6%). NELNET INC produced more free cash flow last quarter ($396.7M vs $-44.6M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs 62.0%).
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.
Nelnet, Inc. is a United States–based conglomerate that primarily focuses on financial services including student and consumer loan origination and servicing. Additionally, the company operates an investing arm, an internet bank and has a 26% stake in Allo Fiber, a cable and internet provider. The company is headquartered in Lincoln, Nebraska.
ABCL vs NNI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $33.5M |
| Net Profit | $-8.9M | $57.8M |
| Gross Margin | — | 50.5% |
| Operating Margin | -63.7% | — |
| Net Margin | -19.9% | 172.3% |
| Revenue YoY | 788.4% | 79.6% |
| Net Profit YoY | 73.9% | -8.5% |
| EPS (diluted) | $-0.03 | $1.62 |
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 | $33.5M | ||
| Q3 25 | $9.0M | $23.2M | ||
| Q2 25 | $17.1M | $26.1M | ||
| Q1 25 | $4.2M | $24.7M | ||
| Q4 24 | $5.0M | $18.7M | ||
| Q3 24 | $6.5M | $16.6M | ||
| Q2 24 | $7.3M | $14.9M | ||
| Q1 24 | $10.0M | $12.8M |
| Q4 25 | $-8.9M | $57.8M | ||
| Q3 25 | $-57.1M | $106.7M | ||
| Q2 25 | $-34.7M | $181.5M | ||
| Q1 25 | $-45.6M | $82.6M | ||
| Q4 24 | — | $63.2M | ||
| Q3 24 | $-51.1M | $2.4M | ||
| Q2 24 | $-36.9M | $45.1M | ||
| Q1 24 | $-40.6M | $73.4M |
| Q4 25 | — | 50.5% | ||
| Q3 25 | — | 29.6% | ||
| Q2 25 | — | 29.8% | ||
| Q1 25 | — | 30.5% | ||
| Q4 24 | — | 13.7% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 27.3% | ||
| Q1 24 | — | 15.3% |
| Q4 25 | -63.7% | — | ||
| Q3 25 | -851.8% | — | ||
| Q2 25 | -290.2% | — | ||
| Q1 25 | -1479.6% | — | ||
| Q4 24 | — | 97.7% | ||
| Q3 24 | -1439.4% | -13.4% | ||
| Q2 24 | -1276.2% | 88.0% | ||
| Q1 24 | -551.5% | — |
| Q4 25 | -19.9% | 172.3% | ||
| Q3 25 | -637.8% | 460.5% | ||
| Q2 25 | -203.3% | 694.9% | ||
| Q1 25 | -1077.2% | 334.4% | ||
| Q4 24 | — | 338.2% | ||
| Q3 24 | -785.4% | 14.4% | ||
| Q2 24 | -504.3% | 303.6% | ||
| Q1 24 | -408.0% | 574.4% |
| Q4 25 | $-0.03 | $1.62 | ||
| Q3 25 | $-0.19 | $2.94 | ||
| Q2 25 | $-0.12 | $4.97 | ||
| Q1 25 | $-0.15 | $2.26 | ||
| Q4 24 | — | $1.74 | ||
| Q3 24 | $-0.17 | $0.07 | ||
| Q2 24 | $-0.13 | $1.23 | ||
| Q1 24 | $-0.14 | $1.98 |
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 | $296.0M |
| Total DebtLower is stronger | — | $7.8B |
| Stockholders' EquityBook value | $966.9M | $3.7B |
| Total Assets | $1.4B | $14.1B |
| Debt / EquityLower = less leverage | — | 2.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $296.0M | ||
| Q3 25 | $83.2M | $216.4M | ||
| Q2 25 | $92.4M | $225.8M | ||
| Q1 25 | $159.3M | $220.5M | ||
| Q4 24 | $156.3M | $194.5M | ||
| Q3 24 | $126.6M | $219.7M | ||
| Q2 24 | $148.3M | $145.5M | ||
| Q1 24 | $123.6M | $179.7M |
| Q4 25 | — | $7.8B | ||
| Q3 25 | — | $7.8B | ||
| Q2 25 | — | $7.9B | ||
| Q1 25 | — | $8.7B | ||
| Q4 24 | — | $8.3B | ||
| Q3 24 | — | $8.9B | ||
| Q2 24 | — | $9.6B | ||
| Q1 24 | — | $10.6B |
| Q4 25 | $966.9M | $3.7B | ||
| Q3 25 | $964.0M | $3.7B | ||
| Q2 25 | $1.0B | $3.6B | ||
| Q1 25 | $1.0B | $3.4B | ||
| Q4 24 | $1.1B | $3.3B | ||
| Q3 24 | $1.1B | $3.3B | ||
| Q2 24 | $1.1B | $3.3B | ||
| Q1 24 | $1.1B | $3.3B |
| Q4 25 | $1.4B | $14.1B | ||
| Q3 25 | $1.4B | $13.9B | ||
| Q2 25 | $1.4B | $13.7B | ||
| Q1 25 | $1.3B | $14.2B | ||
| Q4 24 | $1.4B | $13.8B | ||
| Q3 24 | $1.4B | $14.1B | ||
| Q2 24 | $1.4B | $14.5B | ||
| Q1 24 | $1.5B | $15.4B |
| Q4 25 | — | 2.11× | ||
| Q3 25 | — | 2.14× | ||
| Q2 25 | — | 2.21× | ||
| Q1 25 | — | 2.53× | ||
| Q4 24 | — | 2.48× | ||
| Q3 24 | — | 2.72× | ||
| Q2 24 | — | 2.90× | ||
| Q1 24 | — | 3.20× |
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 | $423.0M |
| Free Cash FlowOCF − Capex | $-44.6M | $396.7M |
| FCF MarginFCF / Revenue | -99.4% | 1183.0% |
| Capex IntensityCapex / Revenue | 21.9% | 78.2% |
| Cash ConversionOCF / Net Profit | — | 7.32× |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $663.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $423.0M | ||
| Q3 25 | $-52.6M | $112.4M | ||
| Q2 25 | $-32.4M | $81.8M | ||
| Q1 25 | $-11.6M | $91.2M | ||
| Q4 24 | $-108.6M | $662.9M | ||
| Q3 24 | $-28.9M | $137.0M | ||
| Q2 24 | $-30.0M | $133.8M | ||
| Q1 24 | $-41.7M | $211.6M |
| Q4 25 | $-44.6M | $396.7M | ||
| Q3 25 | $-61.5M | $100.8M | ||
| Q2 25 | $-45.8M | $78.1M | ||
| Q1 25 | $-22.2M | $87.8M | ||
| Q4 24 | $-187.0M | $642.0M | ||
| Q3 24 | $-47.4M | $132.6M | ||
| Q2 24 | $-50.1M | $123.1M | ||
| Q1 24 | $-65.8M | $188.3M |
| Q4 25 | -99.4% | 1183.0% | ||
| Q3 25 | -687.0% | 435.0% | ||
| Q2 25 | -267.9% | 299.0% | ||
| Q1 25 | -524.0% | 355.6% | ||
| Q4 24 | -3702.8% | 3438.0% | ||
| Q3 24 | -728.4% | 797.9% | ||
| Q2 24 | -683.8% | 829.2% | ||
| Q1 24 | -661.5% | 1473.7% |
| Q4 25 | 21.9% | 78.2% | ||
| Q3 25 | 99.7% | 50.4% | ||
| Q2 25 | 78.2% | 14.2% | ||
| Q1 25 | 251.1% | 13.7% | ||
| Q4 24 | 1552.7% | 111.9% | ||
| Q3 24 | 284.6% | 26.7% | ||
| Q2 24 | 274.6% | 71.5% | ||
| Q1 24 | 242.5% | 181.7% |
| Q4 25 | — | 7.32× | ||
| Q3 25 | — | 1.05× | ||
| Q2 25 | — | 0.45× | ||
| Q1 25 | — | 1.10× | ||
| Q4 24 | — | 10.50× | ||
| Q3 24 | — | 57.39× | ||
| Q2 24 | — | 2.97× | ||
| Q1 24 | — | 2.88× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
