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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and SmartRent, Inc. (SMRT). Click either name above to swap in a different company.
AbCellera Biologics Inc. is the larger business by last-quarter revenue ($44.9M vs $36.5M, roughly 1.2× SmartRent, Inc.). SmartRent, Inc. runs the higher net margin — -8.9% vs -19.9%, a 11.0% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs 3.1%). SmartRent, Inc. produced more free cash flow last quarter ($7.7M vs $-44.6M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs -15.0%).
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.
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
ABCL vs SMRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $36.5M |
| Net Profit | $-8.9M | $-3.2M |
| Gross Margin | — | 38.6% |
| Operating Margin | -63.7% | -10.9% |
| Net Margin | -19.9% | -8.9% |
| Revenue YoY | 788.4% | 3.1% |
| Net Profit YoY | 73.9% | 71.6% |
| EPS (diluted) | $-0.03 | $-0.02 |
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 | $36.5M | ||
| Q3 25 | $9.0M | $36.2M | ||
| Q2 25 | $17.1M | $38.3M | ||
| Q1 25 | $4.2M | $41.3M | ||
| Q4 24 | $5.0M | $35.4M | ||
| Q3 24 | $6.5M | $40.5M | ||
| Q2 24 | $7.3M | $48.5M | ||
| Q1 24 | $10.0M | $50.5M |
| Q4 25 | $-8.9M | $-3.2M | ||
| Q3 25 | $-57.1M | $-6.3M | ||
| Q2 25 | $-34.7M | $-10.9M | ||
| Q1 25 | $-45.6M | $-40.2M | ||
| Q4 24 | — | $-11.4M | ||
| Q3 24 | $-51.1M | $-9.9M | ||
| Q2 24 | $-36.9M | $-4.6M | ||
| Q1 24 | $-40.6M | $-7.7M |
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | 26.4% | ||
| Q2 25 | — | 33.1% | ||
| Q1 25 | — | 32.8% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 33.2% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 38.5% |
| Q4 25 | -63.7% | -10.9% | ||
| Q3 25 | -851.8% | -19.4% | ||
| Q2 25 | -290.2% | -30.5% | ||
| Q1 25 | -1479.6% | -99.9% | ||
| Q4 24 | — | -36.6% | ||
| Q3 24 | -1439.4% | -29.0% | ||
| Q2 24 | -1276.2% | -14.3% | ||
| Q1 24 | -551.5% | -20.1% |
| Q4 25 | -19.9% | -8.9% | ||
| Q3 25 | -637.8% | -17.3% | ||
| Q2 25 | -203.3% | -28.3% | ||
| Q1 25 | -1077.2% | -97.2% | ||
| Q4 24 | — | -32.3% | ||
| Q3 24 | -785.4% | -24.5% | ||
| Q2 24 | -504.3% | -9.5% | ||
| Q1 24 | -408.0% | -15.2% |
| Q4 25 | $-0.03 | $-0.02 | ||
| Q3 25 | $-0.19 | $-0.03 | ||
| Q2 25 | $-0.12 | $-0.06 | ||
| Q1 25 | $-0.15 | $-0.21 | ||
| Q4 24 | — | $-0.06 | ||
| Q3 24 | $-0.17 | $-0.05 | ||
| Q2 24 | $-0.13 | $-0.02 | ||
| Q1 24 | $-0.14 | $-0.04 |
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 | $104.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $966.9M | $232.1M |
| Total Assets | $1.4B | $320.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $104.5M | ||
| Q3 25 | $83.2M | $100.0M | ||
| Q2 25 | $92.4M | $105.0M | ||
| Q1 25 | $159.3M | $125.6M | ||
| Q4 24 | $156.3M | $142.5M | ||
| Q3 24 | $126.6M | $163.4M | ||
| Q2 24 | $148.3M | $187.4M | ||
| Q1 24 | $123.6M | $204.7M |
| Q4 25 | $966.9M | $232.1M | ||
| Q3 25 | $964.0M | $234.4M | ||
| Q2 25 | $1.0B | $238.8M | ||
| Q1 25 | $1.0B | $250.7M | ||
| Q4 24 | $1.1B | $289.4M | ||
| Q3 24 | $1.1B | $305.1M | ||
| Q2 24 | $1.1B | $329.4M | ||
| Q1 24 | $1.1B | $333.1M |
| Q4 25 | $1.4B | $320.9M | ||
| Q3 25 | $1.4B | $335.8M | ||
| Q2 25 | $1.4B | $354.0M | ||
| Q1 25 | $1.3B | $366.1M | ||
| Q4 24 | $1.4B | $420.2M | ||
| Q3 24 | $1.4B | $448.6M | ||
| Q2 24 | $1.4B | $475.3M | ||
| Q1 24 | $1.5B | $485.5M |
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 | $7.7M |
| Free Cash FlowOCF − Capex | $-44.6M | $7.7M |
| FCF MarginFCF / Revenue | -99.4% | 21.0% |
| Capex IntensityCapex / Revenue | 21.9% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $-25.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $7.7M | ||
| Q3 25 | $-52.6M | $-2.1M | ||
| Q2 25 | $-32.4M | $-14.9M | ||
| Q1 25 | $-11.6M | $-12.2M | ||
| Q4 24 | $-108.6M | $-12.0M | ||
| Q3 24 | $-28.9M | $-3.7M | ||
| Q2 24 | $-30.0M | $-13.9M | ||
| Q1 24 | $-41.7M | $-3.3M |
| Q4 25 | $-44.6M | $7.7M | ||
| Q3 25 | $-61.5M | $-2.2M | ||
| Q2 25 | $-45.8M | $-16.2M | ||
| Q1 25 | $-22.2M | $-14.3M | ||
| Q4 24 | $-187.0M | $-13.3M | ||
| Q3 24 | $-47.4M | $-3.9M | ||
| Q2 24 | $-50.1M | $-14.1M | ||
| Q1 24 | $-65.8M | $-3.4M |
| Q4 25 | -99.4% | 21.0% | ||
| Q3 25 | -687.0% | -6.1% | ||
| Q2 25 | -267.9% | -42.3% | ||
| Q1 25 | -524.0% | -34.7% | ||
| Q4 24 | -3702.8% | -37.5% | ||
| Q3 24 | -728.4% | -9.7% | ||
| Q2 24 | -683.8% | -29.1% | ||
| Q1 24 | -661.5% | -6.7% |
| Q4 25 | 21.9% | 0.0% | ||
| Q3 25 | 99.7% | 0.2% | ||
| Q2 25 | 78.2% | 3.3% | ||
| Q1 25 | 251.1% | 5.3% | ||
| Q4 24 | 1552.7% | 3.5% | ||
| Q3 24 | 284.6% | 0.6% | ||
| Q2 24 | 274.6% | 0.5% | ||
| Q1 24 | 242.5% | 0.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ABCL
Segment breakdown not available.
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |
