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Side-by-side financial comparison of AbCellera Biologics Inc. (ABCL) and Waterstone Financial, Inc. (WSBF). Click either name above to swap in a different company.
AbCellera Biologics Inc. is the larger business by last-quarter revenue ($44.9M vs $37.2M, roughly 1.2× Waterstone Financial, Inc.). On growth, AbCellera Biologics Inc. posted the faster year-over-year revenue change (788.4% vs 16.7%). Waterstone Financial, Inc. produced more free cash flow last quarter ($23.0M vs $-44.6M). Over the past eight quarters, AbCellera Biologics Inc.'s revenue compounded faster (112.3% CAGR vs 7.1%).
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.
Waterstone Financial, Inc. is a U.S. bank holding company headquartered in Wisconsin. It offers retail and commercial banking services, residential mortgages, and wealth management solutions, primarily serving consumers and small to medium-sized businesses across the U.S. Midwest region.
ABCL vs WSBF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $44.9M | $37.2M |
| Net Profit | $-8.9M | — |
| Gross Margin | — | — |
| Operating Margin | -63.7% | 27.0% |
| Net Margin | -19.9% | — |
| Revenue YoY | 788.4% | 16.7% |
| Net Profit YoY | 73.9% | — |
| EPS (diluted) | $-0.03 | $0.43 |
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 | $37.2M | ||
| Q3 25 | $9.0M | $37.0M | ||
| Q2 25 | $17.1M | $38.0M | ||
| Q1 25 | $4.2M | $29.7M | ||
| Q4 24 | $5.0M | $31.8M | ||
| Q3 24 | $6.5M | $34.1M | ||
| Q2 24 | $7.3M | $37.2M | ||
| Q1 24 | $10.0M | $32.4M |
| Q4 25 | $-8.9M | — | ||
| Q3 25 | $-57.1M | $7.9M | ||
| Q2 25 | $-34.7M | $7.7M | ||
| Q1 25 | $-45.6M | $3.0M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-51.1M | $4.7M | ||
| Q2 24 | $-36.9M | $5.7M | ||
| Q1 24 | $-40.6M | $3.0M |
| Q4 25 | -63.7% | 27.0% | ||
| Q3 25 | -851.8% | 26.6% | ||
| Q2 25 | -290.2% | 25.4% | ||
| Q1 25 | -1479.6% | 13.1% | ||
| Q4 24 | — | 19.5% | ||
| Q3 24 | -1439.4% | 17.3% | ||
| Q2 24 | -1276.2% | 19.2% | ||
| Q1 24 | -551.5% | 14.7% |
| Q4 25 | -19.9% | — | ||
| Q3 25 | -637.8% | 21.4% | ||
| Q2 25 | -203.3% | 20.3% | ||
| Q1 25 | -1077.2% | 10.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | -785.4% | 13.9% | ||
| Q2 24 | -504.3% | 15.4% | ||
| Q1 24 | -408.0% | 9.4% |
| Q4 25 | $-0.03 | $0.43 | ||
| Q3 25 | $-0.19 | $0.45 | ||
| Q2 25 | $-0.12 | $0.43 | ||
| Q1 25 | $-0.15 | $0.17 | ||
| Q4 24 | — | $0.28 | ||
| Q3 24 | $-0.17 | $0.26 | ||
| Q2 24 | $-0.13 | $0.31 | ||
| Q1 24 | $-0.14 | $0.16 |
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 | — |
| Total DebtLower is stronger | — | $412.3M |
| Stockholders' EquityBook value | $966.9M | $349.4M |
| Total Assets | $1.4B | $2.3B |
| Debt / EquityLower = less leverage | — | 1.18× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $128.5M | — | ||
| Q3 25 | $83.2M | — | ||
| Q2 25 | $92.4M | — | ||
| Q1 25 | $159.3M | — | ||
| Q4 24 | $156.3M | — | ||
| Q3 24 | $126.6M | — | ||
| Q2 24 | $148.3M | — | ||
| Q1 24 | $123.6M | — |
| Q4 25 | — | $412.3M | ||
| Q3 25 | — | $469.1M | ||
| Q2 25 | — | $465.7M | ||
| Q1 25 | — | $395.9M | ||
| Q4 24 | — | $446.5M | ||
| Q3 24 | — | $560.1M | ||
| Q2 24 | — | $660.8M | ||
| Q1 24 | — | $634.2M |
| Q4 25 | $966.9M | $349.4M | ||
| Q3 25 | $964.0M | $345.5M | ||
| Q2 25 | $1.0B | $341.5M | ||
| Q1 25 | $1.0B | $341.4M | ||
| Q4 24 | $1.1B | $339.1M | ||
| Q3 24 | $1.1B | $342.0M | ||
| Q2 24 | $1.1B | $334.9M | ||
| Q1 24 | $1.1B | $338.0M |
| Q4 25 | $1.4B | $2.3B | ||
| Q3 25 | $1.4B | $2.3B | ||
| Q2 25 | $1.4B | $2.3B | ||
| Q1 25 | $1.3B | $2.2B | ||
| Q4 24 | $1.4B | $2.2B | ||
| Q3 24 | $1.4B | $2.2B | ||
| Q2 24 | $1.4B | $2.3B | ||
| Q1 24 | $1.5B | $2.2B |
| Q4 25 | — | 1.18× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.36× | ||
| Q1 25 | — | 1.16× | ||
| Q4 24 | — | 1.32× | ||
| Q3 24 | — | 1.64× | ||
| Q2 24 | — | 1.97× | ||
| Q1 24 | — | 1.88× |
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 | $24.2M |
| Free Cash FlowOCF − Capex | $-44.6M | $23.0M |
| FCF MarginFCF / Revenue | -99.4% | 61.9% |
| Capex IntensityCapex / Revenue | 21.9% | 3.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-174.1M | $43.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-34.7M | $24.2M | ||
| Q3 25 | $-52.6M | $32.7M | ||
| Q2 25 | $-32.4M | $-38.4M | ||
| Q1 25 | $-11.6M | $26.7M | ||
| Q4 24 | $-108.6M | $48.1M | ||
| Q3 24 | $-28.9M | $74.1M | ||
| Q2 24 | $-30.0M | $-39.5M | ||
| Q1 24 | $-41.7M | $-9.9M |
| Q4 25 | $-44.6M | $23.0M | ||
| Q3 25 | $-61.5M | $32.4M | ||
| Q2 25 | $-45.8M | $-38.5M | ||
| Q1 25 | $-22.2M | $26.5M | ||
| Q4 24 | $-187.0M | $47.0M | ||
| Q3 24 | $-47.4M | $73.9M | ||
| Q2 24 | $-50.1M | $-39.7M | ||
| Q1 24 | $-65.8M | $-10.3M |
| Q4 25 | -99.4% | 61.9% | ||
| Q3 25 | -687.0% | 87.5% | ||
| Q2 25 | -267.9% | -101.2% | ||
| Q1 25 | -524.0% | 89.2% | ||
| Q4 24 | -3702.8% | 147.5% | ||
| Q3 24 | -728.4% | 216.9% | ||
| Q2 24 | -683.8% | -106.7% | ||
| Q1 24 | -661.5% | -31.9% |
| Q4 25 | 21.9% | 3.1% | ||
| Q3 25 | 99.7% | 0.8% | ||
| Q2 25 | 78.2% | 0.2% | ||
| Q1 25 | 251.1% | 0.9% | ||
| Q4 24 | 1552.7% | 3.5% | ||
| Q3 24 | 284.6% | 0.6% | ||
| Q2 24 | 274.6% | 0.4% | ||
| Q1 24 | 242.5% | 1.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | 4.13× | ||
| Q2 25 | — | -4.98× | ||
| Q1 25 | — | 8.81× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 15.67× | ||
| Q2 24 | — | -6.92× | ||
| Q1 24 | — | -3.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
