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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and NATIONAL RESEARCH CORP (NRC). Click either name above to swap in a different company.
AbCellera Biologics Inc. is the larger business by last-quarter revenue ($44.9M vs $35.2M, roughly 1.3× NATIONAL RESEARCH CORP). NATIONAL RESEARCH CORP runs the higher net margin — 5.1% vs -19.9%, a 25.0% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs -4.6%). NATIONAL RESEARCH CORP produced more free cash flow last quarter ($6.1M vs $-44.6M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs -0.2%).
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.
National Research Corporation, doing business as NRC Health, is an American healthcare company which provides healthcare products and subscription-based solutions in United States and Canada. It was founded in 1981, and is based in Lincoln, Nebraska.
ABCL vs NRC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $35.2M |
| Net Profit | $-8.9M | $1.8M |
| Gross Margin | — | — |
| Operating Margin | -63.7% | 13.3% |
| Net Margin | -19.9% | 5.1% |
| Revenue YoY | 788.4% | -4.6% |
| Net Profit YoY | 73.9% | -72.6% |
| EPS (diluted) | $-0.03 | $49.58 |
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 | $35.2M | ||
| Q3 25 | $9.0M | $34.6M | ||
| Q2 25 | $17.1M | $34.0M | ||
| Q1 25 | $4.2M | $33.6M | ||
| Q4 24 | $5.0M | $36.9M | ||
| Q3 24 | $6.5M | $35.8M | ||
| Q2 24 | $7.3M | $35.0M | ||
| Q1 24 | $10.0M | $35.3M |
| Q4 25 | $-8.9M | $1.8M | ||
| Q3 25 | $-57.1M | $4.1M | ||
| Q2 25 | $-34.7M | $-106.0K | ||
| Q1 25 | $-45.6M | $5.8M | ||
| Q4 24 | — | $6.6M | ||
| Q3 24 | $-51.1M | $5.7M | ||
| Q2 24 | $-36.9M | $6.2M | ||
| Q1 24 | $-40.6M | $6.4M |
| Q4 25 | -63.7% | 13.3% | ||
| Q3 25 | -851.8% | 22.4% | ||
| Q2 25 | -290.2% | 4.7% | ||
| Q1 25 | -1479.6% | 25.6% | ||
| Q4 24 | — | 26.0% | ||
| Q3 24 | -1439.4% | 22.3% | ||
| Q2 24 | -1276.2% | 25.3% | ||
| Q1 24 | -551.5% | 24.8% |
| Q4 25 | -19.9% | 5.1% | ||
| Q3 25 | -637.8% | 11.9% | ||
| Q2 25 | -203.3% | -0.3% | ||
| Q1 25 | -1077.2% | 17.2% | ||
| Q4 24 | — | 17.8% | ||
| Q3 24 | -785.4% | 15.9% | ||
| Q2 24 | -504.3% | 17.6% | ||
| Q1 24 | -408.0% | 18.0% |
| Q4 25 | $-0.03 | $49.58 | ||
| Q3 25 | $-0.19 | $0.18 | ||
| Q2 25 | $-0.12 | $-0.01 | ||
| Q1 25 | $-0.15 | $0.25 | ||
| Q4 24 | — | $0.27 | ||
| Q3 24 | $-0.17 | $0.24 | ||
| Q2 24 | $-0.13 | $0.26 | ||
| Q1 24 | $-0.14 | $0.27 |
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 | $4.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $966.9M | $14.0M |
| Total Assets | $1.4B | $134.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $4.1M | ||
| Q3 25 | $83.2M | $2.2M | ||
| Q2 25 | $92.4M | $5.3M | ||
| Q1 25 | $159.3M | $2.5M | ||
| Q4 24 | $156.3M | $4.2M | ||
| Q3 24 | $126.6M | $3.5M | ||
| Q2 24 | $148.3M | $485.0K | ||
| Q1 24 | $123.6M | $1.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $48.7M | ||
| Q2 24 | — | $33.3M | ||
| Q1 24 | — | $35.2M |
| Q4 25 | $966.9M | $14.0M | ||
| Q3 25 | $964.0M | $14.3M | ||
| Q2 25 | $1.0B | $21.3M | ||
| Q1 25 | $1.0B | $29.7M | ||
| Q4 24 | $1.1B | $31.3M | ||
| Q3 24 | $1.1B | $34.6M | ||
| Q2 24 | $1.1B | $40.2M | ||
| Q1 24 | $1.1B | $36.9M |
| Q4 25 | $1.4B | $134.9M | ||
| Q3 25 | $1.4B | $135.7M | ||
| Q2 25 | $1.4B | $141.4M | ||
| Q1 25 | $1.3B | $135.2M | ||
| Q4 24 | $1.4B | $132.5M | ||
| Q3 24 | $1.4B | $131.8M | ||
| Q2 24 | $1.4B | $119.1M | ||
| Q1 24 | $1.5B | $120.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.41× | ||
| Q2 24 | — | 0.83× | ||
| Q1 24 | — | 0.95× |
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 | $7.2M |
| Free Cash FlowOCF − Capex | $-44.6M | $6.1M |
| FCF MarginFCF / Revenue | -99.4% | 17.2% |
| Capex IntensityCapex / Revenue | 21.9% | 3.2% |
| Cash ConversionOCF / Net Profit | — | 3.99× |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $15.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $7.2M | ||
| Q3 25 | $-52.6M | $13.8M | ||
| Q2 25 | $-32.4M | $-1.1M | ||
| Q1 25 | $-11.6M | $6.6M | ||
| Q4 24 | $-108.6M | $6.4M | ||
| Q3 24 | $-28.9M | $9.4M | ||
| Q2 24 | $-30.0M | $6.8M | ||
| Q1 24 | $-41.7M | $12.0M |
| Q4 25 | $-44.6M | $6.1M | ||
| Q3 25 | $-61.5M | $10.2M | ||
| Q2 25 | $-45.8M | $-4.1M | ||
| Q1 25 | $-22.2M | $3.7M | ||
| Q4 24 | $-187.0M | $1.9M | ||
| Q3 24 | $-47.4M | $7.8M | ||
| Q2 24 | $-50.1M | $1.5M | ||
| Q1 24 | $-65.8M | $7.9M |
| Q4 25 | -99.4% | 17.2% | ||
| Q3 25 | -687.0% | 29.4% | ||
| Q2 25 | -267.9% | -12.2% | ||
| Q1 25 | -524.0% | 10.9% | ||
| Q4 24 | -3702.8% | 5.2% | ||
| Q3 24 | -728.4% | 21.8% | ||
| Q2 24 | -683.8% | 4.3% | ||
| Q1 24 | -661.5% | 22.4% |
| Q4 25 | 21.9% | 3.2% | ||
| Q3 25 | 99.7% | 10.4% | ||
| Q2 25 | 78.2% | 8.8% | ||
| Q1 25 | 251.1% | 8.9% | ||
| Q4 24 | 1552.7% | 12.0% | ||
| Q3 24 | 284.6% | 4.5% | ||
| Q2 24 | 274.6% | 15.0% | ||
| Q1 24 | 242.5% | 11.7% |
| Q4 25 | — | 3.99× | ||
| Q3 25 | — | 3.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.15× | ||
| Q4 24 | — | 0.97× | ||
| Q3 24 | — | 1.66× | ||
| Q2 24 | — | 1.10× | ||
| Q1 24 | — | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
