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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and Target Hospitality Corp. (TH). Click either name above to swap in a different company.
Target Hospitality Corp. is the larger business by last-quarter revenue ($73.5M vs $44.9M, roughly 1.6× AbCellera Biologics Inc.). AbCellera Biologics Inc. runs the higher net margin — -19.9% vs -20.3%, a 0.4% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs 22.0%). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs 0.7%).
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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
ABCL vs TH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $73.5M |
| Net Profit | $-8.9M | $-14.9M |
| Gross Margin | — | 9.6% |
| Operating Margin | -63.7% | -22.9% |
| Net Margin | -19.9% | -20.3% |
| Revenue YoY | 788.4% | 22.0% |
| Net Profit YoY | 73.9% | -219.1% |
| EPS (diluted) | $-0.03 | $-0.14 |
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 | $73.5M | ||
| Q3 25 | $9.0M | $91.6M | ||
| Q2 25 | $17.1M | $54.9M | ||
| Q1 25 | $4.2M | $54.9M | ||
| Q4 24 | $5.0M | $60.2M | ||
| Q3 24 | $6.5M | $65.8M | ||
| Q2 24 | $7.3M | $67.5M | ||
| Q1 24 | $10.0M | $72.4M |
| Q4 25 | $-8.9M | $-14.9M | ||
| Q3 25 | $-57.1M | $-795.0K | ||
| Q2 25 | $-34.7M | $-14.9M | ||
| Q1 25 | $-45.6M | $-6.5M | ||
| Q4 24 | — | $12.5M | ||
| Q3 24 | $-51.1M | $20.0M | ||
| Q2 24 | $-36.9M | $18.4M | ||
| Q1 24 | $-40.6M | $20.4M |
| Q4 25 | — | 9.6% | ||
| Q3 25 | — | 19.6% | ||
| Q2 25 | — | -0.6% | ||
| Q1 25 | — | 32.7% | ||
| Q4 24 | — | 61.5% | ||
| Q3 24 | — | 68.7% | ||
| Q2 24 | — | 69.4% | ||
| Q1 24 | — | 67.8% |
| Q4 25 | -63.7% | -22.9% | ||
| Q3 25 | -851.8% | 0.1% | ||
| Q2 25 | -290.2% | -30.8% | ||
| Q1 25 | -1479.6% | -2.0% | ||
| Q4 24 | — | 34.5% | ||
| Q3 24 | -1439.4% | 42.5% | ||
| Q2 24 | -1276.2% | 43.8% | ||
| Q1 24 | -551.5% | 42.0% |
| Q4 25 | -19.9% | -20.3% | ||
| Q3 25 | -637.8% | -0.9% | ||
| Q2 25 | -203.3% | -27.2% | ||
| Q1 25 | -1077.2% | -11.8% | ||
| Q4 24 | — | 20.8% | ||
| Q3 24 | -785.4% | 30.4% | ||
| Q2 24 | -504.3% | 27.2% | ||
| Q1 24 | -408.0% | 28.2% |
| Q4 25 | $-0.03 | $-0.14 | ||
| Q3 25 | $-0.19 | $-0.01 | ||
| Q2 25 | $-0.12 | $-0.15 | ||
| Q1 25 | $-0.15 | $-0.07 | ||
| Q4 24 | — | $0.12 | ||
| Q3 24 | $-0.17 | $0.20 | ||
| Q2 24 | $-0.13 | $0.18 | ||
| Q1 24 | $-0.14 | $0.20 |
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 | $8.3M |
| Total DebtLower is stronger | — | $1.7M |
| Stockholders' EquityBook value | $966.9M | $389.3M |
| Total Assets | $1.4B | $530.2M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $8.3M | ||
| Q3 25 | $83.2M | $30.4M | ||
| Q2 25 | $92.4M | $19.2M | ||
| Q1 25 | $159.3M | $34.5M | ||
| Q4 24 | $156.3M | $190.7M | ||
| Q3 24 | $126.6M | $177.7M | ||
| Q2 24 | $148.3M | $154.3M | ||
| Q1 24 | $123.6M | $124.3M |
| Q4 25 | — | $1.7M | ||
| Q3 25 | — | $2.0M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $42.9M | ||
| Q4 24 | — | $1.5M | ||
| Q3 24 | — | $994.0K | ||
| Q2 24 | — | $1.1M | ||
| Q1 24 | — | $179.9M |
| Q4 25 | $966.9M | $389.3M | ||
| Q3 25 | $964.0M | $402.4M | ||
| Q2 25 | $1.0B | $401.3M | ||
| Q1 25 | $1.0B | $415.3M | ||
| Q4 24 | $1.1B | $421.1M | ||
| Q3 24 | $1.1B | $417.6M | ||
| Q2 24 | $1.1B | $397.2M | ||
| Q1 24 | $1.1B | $375.5M |
| Q4 25 | $1.4B | $530.2M | ||
| Q3 25 | $1.4B | $541.2M | ||
| Q2 25 | $1.4B | $533.7M | ||
| Q1 25 | $1.3B | $562.5M | ||
| Q4 24 | $1.4B | $725.8M | ||
| Q3 24 | $1.4B | $709.8M | ||
| Q2 24 | $1.4B | $697.0M | ||
| Q1 24 | $1.5B | $687.2M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.01× | ||
| Q2 25 | — | 0.07× | ||
| Q1 25 | — | 0.10× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.48× |
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 | $5.7M |
| 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.
| Q4 25 | $-34.7M | $5.7M | ||
| Q3 25 | $-52.6M | $53.4M | ||
| Q2 25 | $-32.4M | $11.1M | ||
| Q1 25 | $-11.6M | $3.9M | ||
| Q4 24 | $-108.6M | $30.6M | ||
| Q3 24 | $-28.9M | $31.4M | ||
| Q2 24 | $-30.0M | $39.1M | ||
| Q1 24 | $-41.7M | $50.6M |
| Q4 25 | $-44.6M | — | ||
| Q3 25 | $-61.5M | — | ||
| Q2 25 | $-45.8M | — | ||
| Q1 25 | $-22.2M | $-11.6M | ||
| 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% | -21.1% | ||
| 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% | 28.2% | ||
| Q4 24 | 1552.7% | — | ||
| Q3 24 | 284.6% | — | ||
| Q2 24 | 274.6% | — | ||
| Q1 24 | 242.5% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.44× | ||
| Q3 24 | — | 1.57× | ||
| Q2 24 | — | 2.13× | ||
| Q1 24 | — | 2.48× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ABCL
Segment breakdown not available.
TH
| Services | $40.9M | 56% |
| Hospitality And Facilities Services South | $32.6M | 44% |
