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Side-by-side financial comparison of Arbutus Biopharma Corp (ABUS) and Forge Global Holdings, Inc. (FRGE). Click either name above to swap in a different company.
Forge Global Holdings, Inc. is the larger business by last-quarter revenue ($21.3M vs $10.7M, roughly 2.0× Arbutus Biopharma Corp). Arbutus Biopharma Corp runs the higher net margin — 23.5% vs -85.7%, a 109.2% gap on every dollar of revenue. On growth, Arbutus Biopharma Corp posted the faster year-over-year revenue change (522.2% vs 10.6%). Over the past eight quarters, Forge Global Holdings, Inc.'s revenue compounded faster (5.6% CAGR vs -13.2%).
Arbutus Biopharma Corporation is a publicly traded Canadian biopharmaceutical company with an expertise in liposomal drug delivery and RNA interference, and is developing drugs for hepatitis B infection.
Bharat Forge Limited is an Indian multinational company involved in forging, automotives, energy, construction and mining, railways, marine, aerospace and defence industries.
ABUS vs FRGE — Head-to-Head
Income Statement — Q2 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $10.7M | $21.3M |
| Net Profit | $2.5M | $-18.2M |
| Gross Margin | — | 98.6% |
| Operating Margin | 13.9% | -96.7% |
| Net Margin | 23.5% | -85.7% |
| Revenue YoY | 522.2% | 10.6% |
| Net Profit YoY | 112.7% | 0.6% |
| EPS (diluted) | $0.01 | $-1.37 |
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.
| Q3 25 | — | $21.3M | ||
| Q2 25 | $10.7M | $27.7M | ||
| Q1 25 | — | $25.3M | ||
| Q4 24 | — | $18.6M | ||
| Q3 24 | — | $19.2M | ||
| Q2 24 | — | $22.3M | ||
| Q1 24 | — | $19.2M | ||
| Q4 23 | $2.1M | $19.1M |
| Q3 25 | — | $-18.2M | ||
| Q2 25 | $2.5M | $-12.6M | ||
| Q1 25 | — | $-16.2M | ||
| Q4 24 | — | $-15.6M | ||
| Q3 24 | — | $-18.3M | ||
| Q2 24 | — | $-13.7M | ||
| Q1 24 | — | $-18.6M | ||
| Q4 23 | — | $-25.8M |
| Q3 25 | — | 98.6% | ||
| Q2 25 | — | 99.4% | ||
| Q1 25 | — | 99.2% | ||
| Q4 24 | — | 98.3% | ||
| Q3 24 | — | 99.6% | ||
| Q2 24 | — | 98.9% | ||
| Q1 24 | — | 99.8% | ||
| Q4 23 | — | 99.1% |
| Q3 25 | — | -96.7% | ||
| Q2 25 | 13.9% | -46.3% | ||
| Q1 25 | — | -65.1% | ||
| Q4 24 | — | -100.6% | ||
| Q3 24 | — | -108.8% | ||
| Q2 24 | — | -79.2% | ||
| Q1 24 | — | -130.0% | ||
| Q4 23 | -967.2% | -128.1% |
| Q3 25 | — | -85.7% | ||
| Q2 25 | 23.5% | -45.4% | ||
| Q1 25 | — | -63.9% | ||
| Q4 24 | — | -84.2% | ||
| Q3 24 | — | -95.5% | ||
| Q2 24 | — | -61.6% | ||
| Q1 24 | — | -96.8% | ||
| Q4 23 | — | -135.3% |
| Q3 25 | — | $-1.37 | ||
| Q2 25 | $0.01 | $-1.01 | ||
| Q1 25 | — | $-1.29 | ||
| Q4 24 | — | $3.81 | ||
| Q3 24 | — | $-1.49 | ||
| Q2 24 | — | $-1.13 | ||
| Q1 24 | — | $-1.55 | ||
| Q4 23 | $-0.12 | $-0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $37.4M | $60.7M |
| Total DebtLower is stronger | $0 | — |
| Stockholders' EquityBook value | $83.0M | $202.6M |
| Total Assets | $103.3M | $252.0M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $60.7M | ||
| Q2 25 | $37.4M | $80.7M | ||
| Q1 25 | — | $92.0M | ||
| Q4 24 | — | $105.1M | ||
| Q3 24 | — | $114.5M | ||
| Q2 24 | — | $120.5M | ||
| Q1 24 | — | $129.6M | ||
| Q4 23 | $126.0M | $144.7M |
| Q3 25 | — | — | ||
| Q2 25 | $0 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | $0 | — |
| Q3 25 | — | $202.6M | ||
| Q2 25 | $83.0M | $200.5M | ||
| Q1 25 | — | $213.5M | ||
| Q4 24 | — | $223.6M | ||
| Q3 24 | — | $234.5M | ||
| Q2 24 | — | $245.4M | ||
| Q1 24 | — | $252.2M | ||
| Q4 23 | $106.0M | $263.5M |
| Q3 25 | — | $252.0M | ||
| Q2 25 | $103.3M | $242.8M | ||
| Q1 25 | — | $249.5M | ||
| Q4 24 | — | $263.5M | ||
| Q3 24 | — | $276.6M | ||
| Q2 24 | — | $285.7M | ||
| Q1 24 | — | $298.7M | ||
| Q4 23 | $144.4M | $310.7M |
| Q3 25 | — | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | 0.00× | — |
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 | $-15.7M | $-11.4M |
| Free Cash FlowOCF − Capex | — | $-11.4M |
| FCF MarginFCF / Revenue | — | -53.6% |
| Capex IntensityCapex / Revenue | 0.0% | 0.2% |
| Cash ConversionOCF / Net Profit | -6.24× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-73.5M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $-11.4M | ||
| Q2 25 | $-15.7M | $-7.8M | ||
| Q1 25 | — | $-12.8M | ||
| Q4 24 | — | $-40.5M | ||
| Q3 24 | — | $-5.8M | ||
| Q2 24 | — | $-14.4M | ||
| Q1 24 | — | $-12.4M | ||
| Q4 23 | $-17.3M | $-6.6M |
| Q3 25 | — | $-11.4M | ||
| Q2 25 | — | $-7.9M | ||
| Q1 25 | — | $-12.9M | ||
| Q4 24 | — | $-41.3M | ||
| Q3 24 | — | $-6.0M | ||
| Q2 24 | — | $-14.7M | ||
| Q1 24 | — | $-12.8M | ||
| Q4 23 | — | $-7.0M |
| Q3 25 | — | -53.6% | ||
| Q2 25 | — | -28.4% | ||
| Q1 25 | — | -50.9% | ||
| Q4 24 | — | -222.3% | ||
| Q3 24 | — | -31.0% | ||
| Q2 24 | — | -66.0% | ||
| Q1 24 | — | -66.4% | ||
| Q4 23 | — | -36.7% |
| Q3 25 | — | 0.2% | ||
| Q2 25 | 0.0% | 0.4% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 4.3% | ||
| Q3 24 | — | 0.7% | ||
| Q2 24 | — | 1.2% | ||
| Q1 24 | — | 2.1% | ||
| Q4 23 | 0.0% | 2.2% |
| Q3 25 | — | — | ||
| Q2 25 | -6.24× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ABUS
Segment breakdown not available.
FRGE
| Marketplace | $12.2M | 57% |
| Custodial Administration Fees | $9.1M | 43% |
