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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and NETSTREIT Corp. (NTST). Click either name above to swap in a different company.
NETSTREIT Corp. is the larger business by last-quarter revenue ($57.1M vs $44.9M, roughly 1.3× AbCellera Biologics Inc.). NETSTREIT Corp. runs the higher net margin — 10.0% vs -19.9%, a 30.0% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs 24.3%). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs 20.1%).
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.
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
ABCL vs NTST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $57.1M |
| Net Profit | $-8.9M | $5.7M |
| Gross Margin | — | — |
| Operating Margin | -63.7% | 34.1% |
| Net Margin | -19.9% | 10.0% |
| Revenue YoY | 788.4% | 24.3% |
| Net Profit YoY | 73.9% | 235.9% |
| EPS (diluted) | $-0.03 | $0.32 |
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.
| Q1 26 | — | $57.1M | ||
| Q4 25 | $44.9M | $52.5M | ||
| Q3 25 | $9.0M | $48.3M | ||
| Q2 25 | $17.1M | $48.3M | ||
| Q1 25 | $4.2M | $45.9M | ||
| Q4 24 | $5.0M | $44.1M | ||
| Q3 24 | $6.5M | $41.4M | ||
| Q2 24 | $7.3M | $39.6M |
| Q1 26 | — | $5.7M | ||
| Q4 25 | $-8.9M | $1.3M | ||
| Q3 25 | $-57.1M | $618.0K | ||
| Q2 25 | $-34.7M | $3.3M | ||
| Q1 25 | $-45.6M | $1.7M | ||
| Q4 24 | — | $-5.4M | ||
| Q3 24 | $-51.1M | $-5.3M | ||
| Q2 24 | $-36.9M | $-2.3M |
| Q1 26 | — | 34.1% | ||
| Q4 25 | -63.7% | 2.6% | ||
| Q3 25 | -851.8% | 1.3% | ||
| Q2 25 | -290.2% | 6.8% | ||
| Q1 25 | -1479.6% | 3.7% | ||
| Q4 24 | — | -12.3% | ||
| Q3 24 | -1439.4% | -12.8% | ||
| Q2 24 | -1276.2% | -5.8% |
| Q1 26 | — | 10.0% | ||
| Q4 25 | -19.9% | 2.5% | ||
| Q3 25 | -637.8% | 1.3% | ||
| Q2 25 | -203.3% | 6.8% | ||
| Q1 25 | -1077.2% | 3.7% | ||
| Q4 24 | — | -12.3% | ||
| Q3 24 | -785.4% | -12.8% | ||
| Q2 24 | -504.3% | -5.8% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | $-0.03 | $0.01 | ||
| Q3 25 | $-0.19 | $0.01 | ||
| Q2 25 | $-0.12 | $0.04 | ||
| Q1 25 | $-0.15 | $0.02 | ||
| Q4 24 | — | $-0.07 | ||
| Q3 24 | $-0.17 | $-0.07 | ||
| Q2 24 | $-0.13 | $-0.03 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $966.9M | $1.5B |
| Total Assets | $1.4B | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $128.5M | — | ||
| Q3 25 | $83.2M | — | ||
| Q2 25 | $92.4M | — | ||
| Q1 25 | $159.3M | — | ||
| Q4 24 | $156.3M | — | ||
| Q3 24 | $126.6M | — | ||
| Q2 24 | $148.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.1B | ||
| Q3 25 | — | $1.1B | ||
| Q2 25 | — | $926.6M | ||
| Q1 25 | — | $913.3M | ||
| Q4 24 | — | $868.3M | ||
| Q3 24 | — | $778.7M | ||
| Q2 24 | — | $726.2M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $966.9M | $1.4B | ||
| Q3 25 | $964.0M | $1.3B | ||
| Q2 25 | $1.0B | $1.3B | ||
| Q1 25 | $1.0B | $1.3B | ||
| Q4 24 | $1.1B | $1.3B | ||
| Q3 24 | $1.1B | $1.3B | ||
| Q2 24 | $1.1B | $1.3B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $1.4B | $2.6B | ||
| Q3 25 | $1.4B | $2.5B | ||
| Q2 25 | $1.4B | $2.3B | ||
| Q1 25 | $1.3B | $2.3B | ||
| Q4 24 | $1.4B | $2.3B | ||
| Q3 24 | $1.4B | $2.2B | ||
| Q2 24 | $1.4B | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.84× | ||
| Q2 25 | — | 0.70× | ||
| Q1 25 | — | 0.70× | ||
| Q4 24 | — | 0.65× | ||
| Q3 24 | — | 0.58× | ||
| Q2 24 | — | 0.55× |
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 | — |
| Free Cash FlowOCF − Capex | $-44.6M | — |
| FCF MarginFCF / Revenue | -99.4% | — |
| Capex IntensityCapex / Revenue | 21.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-34.7M | $109.5M | ||
| Q3 25 | $-52.6M | $28.0M | ||
| Q2 25 | $-32.4M | $30.6M | ||
| Q1 25 | $-11.6M | $22.1M | ||
| Q4 24 | $-108.6M | $90.2M | ||
| Q3 24 | $-28.9M | $25.1M | ||
| Q2 24 | $-30.0M | $25.4M |
| Q1 26 | — | — | ||
| Q4 25 | $-44.6M | — | ||
| Q3 25 | $-61.5M | — | ||
| Q2 25 | $-45.8M | — | ||
| Q1 25 | $-22.2M | — | ||
| Q4 24 | $-187.0M | — | ||
| Q3 24 | $-47.4M | — | ||
| Q2 24 | $-50.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | -99.4% | — | ||
| Q3 25 | -687.0% | — | ||
| Q2 25 | -267.9% | — | ||
| Q1 25 | -524.0% | — | ||
| Q4 24 | -3702.8% | — | ||
| Q3 24 | -728.4% | — | ||
| Q2 24 | -683.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | 21.9% | — | ||
| Q3 25 | 99.7% | — | ||
| Q2 25 | 78.2% | — | ||
| Q1 25 | 251.1% | — | ||
| Q4 24 | 1552.7% | — | ||
| Q3 24 | 284.6% | — | ||
| Q2 24 | 274.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 82.46× | ||
| Q3 25 | — | 45.27× | ||
| Q2 25 | — | 9.36× | ||
| Q1 25 | — | 13.06× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ABCL
Segment breakdown not available.
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
