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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and STEM, INC. (STEM). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $44.9M, roughly 1.1× AbCellera Biologics Inc.). AbCellera Biologics Inc. runs the higher net margin — -19.9% vs -33.9%, a 14.0% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs -15.6%). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs 36.1%).
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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
ABCL vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $47.1M |
| Net Profit | $-8.9M | $-16.0M |
| Gross Margin | — | 48.9% |
| Operating Margin | -63.7% | -17.7% |
| Net Margin | -19.9% | -33.9% |
| Revenue YoY | 788.4% | -15.6% |
| Net Profit YoY | 73.9% | 68.8% |
| EPS (diluted) | $-0.03 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $9.0M | $38.2M | ||
| Q2 25 | $17.1M | $38.4M | ||
| Q1 25 | $4.2M | $32.5M | ||
| Q4 24 | $5.0M | $55.8M | ||
| Q3 24 | $6.5M | $29.3M | ||
| Q2 24 | $7.3M | $34.0M | ||
| Q1 24 | $10.0M | $25.5M |
| Q4 25 | $-8.9M | $-16.0M | ||
| Q3 25 | $-57.1M | $-23.8M | ||
| Q2 25 | $-34.7M | $202.5M | ||
| Q1 25 | $-45.6M | $-25.0M | ||
| Q4 24 | — | $-51.1M | ||
| Q3 24 | $-51.1M | $-148.3M | ||
| Q2 24 | $-36.9M | $-582.3M | ||
| Q1 24 | $-40.6M | $-72.3M |
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
| Q4 25 | -63.7% | -17.7% | ||
| Q3 25 | -851.8% | -33.6% | ||
| Q2 25 | -290.2% | -34.8% | ||
| Q1 25 | -1479.6% | -65.0% | ||
| Q4 24 | — | -84.4% | ||
| Q3 24 | -1439.4% | -493.2% | ||
| Q2 24 | -1276.2% | -1705.5% | ||
| Q1 24 | -551.5% | -267.0% |
| Q4 25 | -19.9% | -33.9% | ||
| Q3 25 | -637.8% | -62.2% | ||
| Q2 25 | -203.3% | 527.8% | ||
| Q1 25 | -1077.2% | -76.9% | ||
| Q4 24 | — | -91.6% | ||
| Q3 24 | -785.4% | -506.3% | ||
| Q2 24 | -504.3% | -1712.6% | ||
| Q1 24 | -408.0% | -283.9% |
| Q4 25 | $-0.03 | $-4.40 | ||
| Q3 25 | $-0.19 | $-2.84 | ||
| Q2 25 | $-0.12 | $-1.79 | ||
| Q1 25 | $-0.15 | $-0.15 | ||
| Q4 24 | — | $-15.29 | ||
| Q3 24 | $-0.17 | $-18.24 | ||
| Q2 24 | $-0.13 | $-71.81 | ||
| Q1 24 | $-0.14 | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $966.9M | $-249.4M |
| Total Assets | $1.4B | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $48.9M | ||
| Q3 25 | $83.2M | $43.1M | ||
| Q2 25 | $92.4M | $40.8M | ||
| Q1 25 | $159.3M | $58.6M | ||
| Q4 24 | $156.3M | $56.3M | ||
| Q3 24 | $126.6M | $75.4M | ||
| Q2 24 | $148.3M | $89.6M | ||
| Q1 24 | $123.6M | $112.8M |
| Q4 25 | $966.9M | $-249.4M | ||
| Q3 25 | $964.0M | $-235.7M | ||
| Q2 25 | $1.0B | $-214.1M | ||
| Q1 25 | $1.0B | $-417.5M | ||
| Q4 24 | $1.1B | $-398.4M | ||
| Q3 24 | $1.1B | $-344.1M | ||
| Q2 24 | $1.1B | $-203.2M | ||
| Q1 24 | $1.1B | $371.6M |
| Q4 25 | $1.4B | $308.9M | ||
| Q3 25 | $1.4B | $362.6M | ||
| Q2 25 | $1.4B | $379.2M | ||
| Q1 25 | $1.3B | $405.1M | ||
| Q4 24 | $1.4B | $437.4M | ||
| Q3 24 | $1.4B | $537.8M | ||
| Q2 24 | $1.4B | $691.5M | ||
| Q1 24 | $1.5B | $1.3B |
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 | $8.2M |
| 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.
| Q4 25 | $-34.7M | $8.2M | ||
| Q3 25 | $-52.6M | $11.4M | ||
| Q2 25 | $-32.4M | $-21.3M | ||
| Q1 25 | $-11.6M | $8.5M | ||
| Q4 24 | $-108.6M | $-14.7M | ||
| Q3 24 | $-28.9M | $-9.4M | ||
| Q2 24 | $-30.0M | $-11.9M | ||
| Q1 24 | $-41.7M | $-621.0K |
| 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 24 | $-65.8M | — |
| 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 24 | -661.5% | — |
| 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 24 | 242.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.11× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
