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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and ON24 INC. (ONTF). Click either name above to swap in a different company.
AbCellera Biologics Inc. is the larger business by last-quarter revenue ($44.9M vs $34.6M, roughly 1.3× ON24 INC.). ON24 INC. runs the higher net margin — -18.8% vs -19.9%, a 1.2% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs -5.6%). ON24 INC. produced more free cash flow last quarter ($-2.2M vs $-44.6M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs -4.2%).
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.
ON24 Inc., a San Francisco-based company, is a cloud-based platform that develops and sells web-based webinar, virtual conferencing, content hub, and landing page applications as a service for marketing and sales teams in B2B organizations. In 2023 it expanded its offerings to include generative AI services.
ABCL vs ONTF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $34.6M |
| Net Profit | $-8.9M | $-6.5M |
| Gross Margin | — | 74.9% |
| Operating Margin | -63.7% | -23.5% |
| Net Margin | -19.9% | -18.8% |
| Revenue YoY | 788.4% | -5.6% |
| Net Profit YoY | 73.9% | 26.8% |
| EPS (diluted) | $-0.03 | $-0.15 |
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 | $34.6M | ||
| Q3 25 | $9.0M | $34.6M | ||
| Q2 25 | $17.1M | $35.3M | ||
| Q1 25 | $4.2M | $34.7M | ||
| Q4 24 | $5.0M | $36.7M | ||
| Q3 24 | $6.5M | $36.3M | ||
| Q2 24 | $7.3M | $37.3M | ||
| Q1 24 | $10.0M | $37.7M |
| Q4 25 | $-8.9M | $-6.5M | ||
| Q3 25 | $-57.1M | $-6.4M | ||
| Q2 25 | $-34.7M | $-7.3M | ||
| Q1 25 | $-45.6M | $-8.7M | ||
| Q4 24 | — | $-8.9M | ||
| Q3 24 | $-51.1M | $-11.4M | ||
| Q2 24 | $-36.9M | $-11.2M | ||
| Q1 24 | $-40.6M | $-10.7M |
| Q4 25 | — | 74.9% | ||
| Q3 25 | — | 74.7% | ||
| Q2 25 | — | 75.1% | ||
| Q1 25 | — | 73.8% | ||
| Q4 24 | — | 74.5% | ||
| Q3 24 | — | 74.3% | ||
| Q2 24 | — | 74.5% | ||
| Q1 24 | — | 74.1% |
| Q4 25 | -63.7% | -23.5% | ||
| Q3 25 | -851.8% | -23.1% | ||
| Q2 25 | -290.2% | -26.0% | ||
| Q1 25 | -1479.6% | -30.1% | ||
| Q4 24 | — | -32.1% | ||
| Q3 24 | -1439.4% | -36.7% | ||
| Q2 24 | -1276.2% | -35.0% | ||
| Q1 24 | -551.5% | -33.1% |
| Q4 25 | -19.9% | -18.8% | ||
| Q3 25 | -637.8% | -18.4% | ||
| Q2 25 | -203.3% | -20.6% | ||
| Q1 25 | -1077.2% | -25.1% | ||
| Q4 24 | — | -24.2% | ||
| Q3 24 | -785.4% | -31.4% | ||
| Q2 24 | -504.3% | -29.9% | ||
| Q1 24 | -408.0% | -28.4% |
| Q4 25 | $-0.03 | $-0.15 | ||
| Q3 25 | $-0.19 | $-0.15 | ||
| Q2 25 | $-0.12 | $-0.17 | ||
| Q1 25 | $-0.15 | $-0.21 | ||
| Q4 24 | — | $-0.21 | ||
| Q3 24 | $-0.17 | $-0.27 | ||
| Q2 24 | $-0.13 | $-0.27 | ||
| Q1 24 | $-0.14 | $-0.26 |
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 | $37.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $966.9M | $139.4M |
| Total Assets | $1.4B | $228.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $37.0M | ||
| Q3 25 | $83.2M | $47.2M | ||
| Q2 25 | $92.4M | $37.7M | ||
| Q1 25 | $159.3M | $26.8M | ||
| Q4 24 | $156.3M | $14.9M | ||
| Q3 24 | $126.6M | $11.0M | ||
| Q2 24 | $148.3M | $15.5M | ||
| Q1 24 | $123.6M | $18.3M |
| Q4 25 | $966.9M | $139.4M | ||
| Q3 25 | $964.0M | $144.3M | ||
| Q2 25 | $1.0B | $150.0M | ||
| Q1 25 | $1.0B | $153.7M | ||
| Q4 24 | $1.1B | $159.4M | ||
| Q3 24 | $1.1B | $164.9M | ||
| Q2 24 | $1.1B | $170.8M | ||
| Q1 24 | $1.1B | $174.4M |
| Q4 25 | $1.4B | $228.4M | ||
| Q3 25 | $1.4B | $224.8M | ||
| Q2 25 | $1.4B | $235.1M | ||
| Q1 25 | $1.3B | $245.8M | ||
| Q4 24 | $1.4B | $251.0M | ||
| Q3 24 | $1.4B | $250.9M | ||
| Q2 24 | $1.4B | $259.0M | ||
| Q1 24 | $1.5B | $269.2M |
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 | $-1.1M |
| Free Cash FlowOCF − Capex | $-44.6M | $-2.2M |
| FCF MarginFCF / Revenue | -99.4% | -6.4% |
| Capex IntensityCapex / Revenue | 21.9% | 3.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $-1.1M | ||
| Q3 25 | $-52.6M | $2.5M | ||
| Q2 25 | $-32.4M | $2.6M | ||
| Q1 25 | $-11.6M | $3.4M | ||
| Q4 24 | $-108.6M | $985.0K | ||
| Q3 24 | $-28.9M | $295.0K | ||
| Q2 24 | $-30.0M | $1.4M | ||
| Q1 24 | $-41.7M | $2.1M |
| Q4 25 | $-44.6M | $-2.2M | ||
| Q3 25 | $-61.5M | $2.2M | ||
| Q2 25 | $-45.8M | $2.1M | ||
| Q1 25 | $-22.2M | $1.9M | ||
| Q4 24 | $-187.0M | $424.0K | ||
| Q3 24 | $-47.4M | $143.0K | ||
| Q2 24 | $-50.1M | $898.0K | ||
| Q1 24 | $-65.8M | $1.1M |
| Q4 25 | -99.4% | -6.4% | ||
| Q3 25 | -687.0% | 6.2% | ||
| Q2 25 | -267.9% | 5.9% | ||
| Q1 25 | -524.0% | 5.6% | ||
| Q4 24 | -3702.8% | 1.2% | ||
| Q3 24 | -728.4% | 0.4% | ||
| Q2 24 | -683.8% | 2.4% | ||
| Q1 24 | -661.5% | 2.9% |
| Q4 25 | 21.9% | 3.3% | ||
| Q3 25 | 99.7% | 1.1% | ||
| Q2 25 | 78.2% | 1.4% | ||
| Q1 25 | 251.1% | 4.2% | ||
| Q4 24 | 1552.7% | 1.5% | ||
| Q3 24 | 284.6% | 0.4% | ||
| Q2 24 | 274.6% | 1.3% | ||
| Q1 24 | 242.5% | 2.8% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
