vs
Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and Velocity Financial, Inc. (VEL). Click either name above to swap in a different company.
Velocity Financial, Inc. is the larger business by last-quarter revenue ($51.6M vs $44.9M, roughly 1.2× AbCellera Biologics Inc.). Velocity Financial, Inc. runs the higher net margin — 67.3% vs -19.9%, a 87.3% gap on every dollar of revenue. On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs 32.8%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $-44.6M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs 32.3%).
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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
ABCL vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $51.6M |
| Net Profit | $-8.9M | $34.8M |
| Gross Margin | — | — |
| Operating Margin | -63.7% | 97.0% |
| Net Margin | -19.9% | 67.3% |
| Revenue YoY | 788.4% | 32.8% |
| Net Profit YoY | 73.9% | 67.0% |
| EPS (diluted) | $-0.03 | $0.90 |
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 | $51.6M | ||
| Q3 25 | $9.0M | $49.1M | ||
| Q2 25 | $17.1M | $47.6M | ||
| Q1 25 | $4.2M | $37.5M | ||
| Q4 24 | $5.0M | $38.9M | ||
| Q3 24 | $6.5M | $35.1M | ||
| Q2 24 | $7.3M | $32.4M | ||
| Q1 24 | $10.0M | $29.5M |
| Q4 25 | $-8.9M | $34.8M | ||
| Q3 25 | $-57.1M | $25.4M | ||
| Q2 25 | $-34.7M | $26.0M | ||
| Q1 25 | $-45.6M | $18.9M | ||
| Q4 24 | — | $20.8M | ||
| Q3 24 | $-51.1M | $15.8M | ||
| Q2 24 | $-36.9M | $14.8M | ||
| Q1 24 | $-40.6M | $17.3M |
| Q4 25 | -63.7% | 97.0% | ||
| Q3 25 | -851.8% | 72.1% | ||
| Q2 25 | -290.2% | 71.3% | ||
| Q1 25 | -1479.6% | 71.7% | ||
| Q4 24 | — | 82.5% | ||
| Q3 24 | -1439.4% | 60.6% | ||
| Q2 24 | -1276.2% | 61.3% | ||
| Q1 24 | -551.5% | 78.8% |
| Q4 25 | -19.9% | 67.3% | ||
| Q3 25 | -637.8% | 51.7% | ||
| Q2 25 | -203.3% | 54.6% | ||
| Q1 25 | -1077.2% | 50.4% | ||
| Q4 24 | — | 53.5% | ||
| Q3 24 | -785.4% | 45.1% | ||
| Q2 24 | -504.3% | 45.6% | ||
| Q1 24 | -408.0% | 58.5% |
| Q4 25 | $-0.03 | $0.90 | ||
| Q3 25 | $-0.19 | $0.65 | ||
| Q2 25 | $-0.12 | $0.69 | ||
| Q1 25 | $-0.15 | $0.51 | ||
| Q4 24 | — | $0.56 | ||
| Q3 24 | $-0.17 | $0.44 | ||
| Q2 24 | $-0.13 | $0.42 | ||
| Q1 24 | $-0.14 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $966.9M | $672.5M |
| Total Assets | $1.4B | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | $92.1M | ||
| Q3 25 | $83.2M | $99.0M | ||
| Q2 25 | $92.4M | $79.6M | ||
| Q1 25 | $159.3M | $51.7M | ||
| Q4 24 | $156.3M | $49.9M | ||
| Q3 24 | $126.6M | $44.1M | ||
| Q2 24 | $148.3M | $47.4M | ||
| Q1 24 | $123.6M | $34.8M |
| Q4 25 | $966.9M | $672.5M | ||
| Q3 25 | $964.0M | $634.3M | ||
| Q2 25 | $1.0B | $597.9M | ||
| Q1 25 | $1.0B | $563.2M | ||
| Q4 24 | $1.1B | $516.9M | ||
| Q3 24 | $1.1B | $484.6M | ||
| Q2 24 | $1.1B | $471.3M | ||
| Q1 24 | $1.1B | $452.9M |
| Q4 25 | $1.4B | $7.4B | ||
| Q3 25 | $1.4B | $7.0B | ||
| Q2 25 | $1.4B | $6.5B | ||
| Q1 25 | $1.3B | $6.0B | ||
| Q4 24 | $1.4B | $5.5B | ||
| Q3 24 | $1.4B | $5.2B | ||
| Q2 24 | $1.4B | $4.9B | ||
| Q1 24 | $1.5B | $4.6B |
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 | $18.2M |
| Free Cash FlowOCF − Capex | $-44.6M | $17.9M |
| FCF MarginFCF / Revenue | -99.4% | 34.6% |
| Capex IntensityCapex / Revenue | 21.9% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $18.2M | ||
| Q3 25 | $-52.6M | $11.5M | ||
| Q2 25 | $-32.4M | $7.7M | ||
| Q1 25 | $-11.6M | $3.5M | ||
| Q4 24 | $-108.6M | $37.8M | ||
| Q3 24 | $-28.9M | $-17.6M | ||
| Q2 24 | $-30.0M | $11.5M | ||
| Q1 24 | $-41.7M | $10.6M |
| Q4 25 | $-44.6M | $17.9M | ||
| Q3 25 | $-61.5M | $11.4M | ||
| Q2 25 | $-45.8M | $7.6M | ||
| Q1 25 | $-22.2M | $3.5M | ||
| Q4 24 | $-187.0M | $37.5M | ||
| Q3 24 | $-47.4M | $-17.6M | ||
| Q2 24 | $-50.1M | $11.4M | ||
| Q1 24 | $-65.8M | $10.5M |
| Q4 25 | -99.4% | 34.6% | ||
| Q3 25 | -687.0% | 23.2% | ||
| Q2 25 | -267.9% | 15.9% | ||
| Q1 25 | -524.0% | 9.2% | ||
| Q4 24 | -3702.8% | 96.4% | ||
| Q3 24 | -728.4% | -50.3% | ||
| Q2 24 | -683.8% | 35.1% | ||
| Q1 24 | -661.5% | 35.8% |
| Q4 25 | 21.9% | 0.5% | ||
| Q3 25 | 99.7% | 0.1% | ||
| Q2 25 | 78.2% | 0.2% | ||
| Q1 25 | 251.1% | 0.2% | ||
| Q4 24 | 1552.7% | 0.7% | ||
| Q3 24 | 284.6% | 0.2% | ||
| Q2 24 | 274.6% | 0.3% | ||
| Q1 24 | 242.5% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ABCL
Segment breakdown not available.
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
