vs
Side-by-side financial comparison of Arbutus Biopharma Corp (ABUS) and Forward Industries, Inc. (FWDI). Click either name above to swap in a different company.
Forward Industries, Inc. is the larger business by last-quarter revenue ($21.4M vs $10.7M, roughly 2.0× Arbutus Biopharma Corp). Arbutus Biopharma Corp runs the higher net margin — 23.5% vs -2732.2%, a 2755.7% gap on every dollar of revenue. On growth, Arbutus Biopharma Corp posted the faster year-over-year revenue change (522.2% vs 224.0%). Over the past eight quarters, Forward Industries, Inc.'s revenue compounded faster (74.6% 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.
Melrose Industries plc is a British aerospace manufacturing company based in Birmingham, England. It is the parent company of GKN Aerospace. The company's shares are listed on the London Stock Exchange as a constituent of the FTSE 100 Index.
ABUS vs FWDI — Head-to-Head
Income Statement — Q2 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $10.7M | $21.4M |
| Net Profit | $2.5M | $-585.7M |
| Gross Margin | — | 78.6% |
| Operating Margin | 13.9% | -2722.8% |
| Net Margin | 23.5% | -2732.2% |
| Revenue YoY | 522.2% | 224.0% |
| Net Profit YoY | 112.7% | -82611.5% |
| EPS (diluted) | $0.01 | $-5.91 |
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 | — | $21.4M | ||
| Q3 25 | — | $7.9M | ||
| Q2 25 | $10.7M | $2.5M | ||
| Q1 25 | — | $3.1M | ||
| Q4 24 | — | $6.6M | ||
| Q2 24 | — | $7.8M | ||
| Q1 24 | — | $5.1M | ||
| Q4 23 | $2.1M | $7.0M |
| Q4 25 | — | $-585.7M | ||
| Q3 25 | — | $-164.0M | ||
| Q2 25 | $2.5M | $-850.0K | ||
| Q1 25 | — | $-1.5M | ||
| Q4 24 | — | $-708.1K | ||
| Q2 24 | — | $-399.6K | ||
| Q1 24 | — | $-553.2K | ||
| Q4 23 | — | — |
| Q4 25 | — | 78.6% | ||
| Q3 25 | — | 61.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -5.7% | ||
| Q4 24 | — | 17.1% | ||
| Q2 24 | — | 16.8% | ||
| Q1 24 | — | 26.2% | ||
| Q4 23 | — | 47.4% |
| Q4 25 | — | -2722.8% | ||
| Q3 25 | — | -39.2% | ||
| Q2 25 | 13.9% | -102.6% | ||
| Q1 25 | — | -58.3% | ||
| Q4 24 | — | -13.6% | ||
| Q2 24 | — | -5.9% | ||
| Q1 24 | — | -12.2% | ||
| Q4 23 | -967.2% | — |
| Q4 25 | — | -2732.2% | ||
| Q3 25 | — | -2063.6% | ||
| Q2 25 | 23.5% | -34.1% | ||
| Q1 25 | — | -46.5% | ||
| Q4 24 | — | -10.7% | ||
| Q2 24 | — | -5.1% | ||
| Q1 24 | — | -10.9% | ||
| Q4 23 | — | — |
| Q4 25 | — | $-5.91 | ||
| Q3 25 | — | $-21.86 | ||
| Q2 25 | $0.01 | $-0.77 | ||
| Q1 25 | — | $-1.32 | ||
| Q4 24 | — | $-0.64 | ||
| Q2 24 | — | $-0.36 | ||
| Q1 24 | — | $-0.50 | ||
| Q4 23 | $-0.12 | — |
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 | — |
| Total DebtLower is stronger | $0 | — |
| Stockholders' EquityBook value | $83.0M | $880.9M |
| Total Assets | $103.3M | $892.9M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $37.4M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | $126.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $0 | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | $0 | — |
| Q4 25 | — | $880.9M | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $83.0M | $3.4M | ||
| Q1 25 | — | $3.6M | ||
| Q4 24 | — | $2.3M | ||
| Q2 24 | — | $1.4M | ||
| Q1 24 | — | $1.8M | ||
| Q4 23 | $106.0M | — |
| Q4 25 | — | $892.9M | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | $103.3M | $8.3M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | — | — | ||
| Q2 24 | — | $15.2M | ||
| Q1 24 | — | $15.2M | ||
| Q4 23 | $144.4M | $16.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.00× | — | ||
| Q1 25 | — | — | ||
| Q4 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 | $-7.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | 0.0% |
| Cash ConversionOCF / Net Profit | -6.24× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-7.9M | ||
| Q3 25 | — | $-4.5M | ||
| Q2 25 | $-15.7M | $-1.2M | ||
| Q1 25 | — | $-537.6K | ||
| Q4 24 | — | $-434.3K | ||
| Q2 24 | — | $436.0K | ||
| Q1 24 | — | — | ||
| Q4 23 | $-17.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $-4.5M | ||
| Q2 25 | — | $-1.2M | ||
| Q1 25 | — | $-539.0K | ||
| Q4 24 | — | $-439.7K | ||
| Q2 24 | — | $426.8K | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -57.0% | ||
| Q2 25 | — | -50.0% | ||
| Q1 25 | — | -17.3% | ||
| Q4 24 | — | -6.6% | ||
| Q2 24 | — | 5.5% | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | 0.0% | 0.8% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.1% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | — | ||
| Q4 23 | 0.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -6.24× | — | ||
| Q1 25 | — | — | ||
| Q4 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.
FWDI
| CODM | $17.4M | 81% |
| Design Segment | $4.1M | 19% |
