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Side-by-side financial comparison of ACADIA PHARMACEUTICALS INC (ACAD) and Affirm Holdings, Inc. (AFRM). Click either name above to swap in a different company.
Affirm Holdings, Inc. is the larger business by last-quarter revenue ($401.4M vs $284.0M, roughly 1.4× ACADIA PHARMACEUTICALS INC). ACADIA PHARMACEUTICALS INC runs the higher net margin — 96.3% vs 32.3%, a 64.0% gap on every dollar of revenue. On growth, Affirm Holdings, Inc. posted the faster year-over-year revenue change (32.5% vs 9.4%). Over the past eight quarters, Affirm Holdings, Inc.'s revenue compounded faster (43.5% CAGR vs 17.5%).
Acadia Pharmaceuticals Inc. is a biopharmaceutical company headquartered in Del Mar, San Diego, California.
Affirm Holdings, Inc. is an American financial technology company and a point-of-sale lender. Founded in 2012 by PayPal co-founder Max Levchin, it is the largest U.S. based buy now, pay later (BNPL) financier. As of 2025, Affirm reports nearly 26 million users and processing $37 billion in annual payments.
ACAD vs AFRM — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $284.0M | $401.4M |
| Net Profit | $273.6M | $129.6M |
| Gross Margin | 90.8% | — |
| Operating Margin | 6.1% | 29.3% |
| Net Margin | 96.3% | 32.3% |
| Revenue YoY | 9.4% | 32.5% |
| Net Profit YoY | 90.3% | 61.3% |
| EPS (diluted) | $1.61 | $0.37 |
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.
| Q4 25 | $284.0M | $401.4M | ||
| Q3 25 | $278.6M | $320.5M | ||
| Q2 25 | $264.6M | $306.6M | ||
| Q1 25 | $244.3M | $272.5M | ||
| Q4 24 | $259.6M | $303.0M | ||
| Q3 24 | $250.4M | $231.8M | ||
| Q2 24 | $242.0M | $224.0M | ||
| Q1 24 | $205.8M | $195.0M |
| Q4 25 | $273.6M | $129.6M | ||
| Q3 25 | $71.8M | $80.7M | ||
| Q2 25 | $26.7M | $69.2M | ||
| Q1 25 | $19.0M | $2.8M | ||
| Q4 24 | $143.7M | $80.4M | ||
| Q3 24 | $32.8M | $-100.2M | ||
| Q2 24 | $33.4M | $-45.1M | ||
| Q1 24 | $16.6M | $-133.9M |
| Q4 25 | 90.8% | — | ||
| Q3 25 | 92.2% | — | ||
| Q2 25 | 92.2% | — | ||
| Q1 25 | 91.7% | — | ||
| Q4 24 | 91.6% | — | ||
| Q3 24 | 92.5% | — | ||
| Q2 24 | 92.5% | — | ||
| Q1 24 | 88.8% | — |
| Q4 25 | 6.1% | 29.3% | ||
| Q3 25 | 12.8% | 19.9% | ||
| Q2 25 | 12.2% | 18.9% | ||
| Q1 25 | 7.9% | -3.1% | ||
| Q4 24 | 59.1% | -1.4% | ||
| Q3 24 | 12.6% | -57.2% | ||
| Q2 24 | 12.6% | -32.8% | ||
| Q1 24 | 7.4% | -82.5% |
| Q4 25 | 96.3% | 32.3% | ||
| Q3 25 | 25.8% | 25.2% | ||
| Q2 25 | 10.1% | 22.6% | ||
| Q1 25 | 7.8% | 1.0% | ||
| Q4 24 | 55.4% | 26.5% | ||
| Q3 24 | 13.1% | -43.2% | ||
| Q2 24 | 13.8% | -20.2% | ||
| Q1 24 | 8.0% | -68.7% |
| Q4 25 | $1.61 | $0.37 | ||
| Q3 25 | $0.42 | $0.23 | ||
| Q2 25 | $0.16 | $0.22 | ||
| Q1 25 | $0.11 | $0.01 | ||
| Q4 24 | $0.86 | $0.23 | ||
| Q3 24 | $0.20 | $-0.31 | ||
| Q2 24 | $0.20 | $-0.13 | ||
| Q1 24 | $0.10 | $-0.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $177.7M | $1.5B |
| Total DebtLower is stronger | — | $9.0B |
| Stockholders' EquityBook value | $1.2B | $3.5B |
| Total Assets | $1.6B | $13.0B |
| Debt / EquityLower = less leverage | — | 2.54× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $177.7M | $1.5B | ||
| Q3 25 | $258.0M | $1.4B | ||
| Q2 25 | $253.6M | $1.4B | ||
| Q1 25 | $217.7M | $1.4B | ||
| Q4 24 | $319.6M | $1.2B | ||
| Q3 24 | $155.1M | $1.0B | ||
| Q2 24 | $177.1M | $1.0B | ||
| Q1 24 | $204.7M | $1.3B |
| Q4 25 | — | $9.0B | ||
| Q3 25 | — | $7.7B | ||
| Q2 25 | — | $7.6B | ||
| Q1 25 | — | $7.1B | ||
| Q4 24 | — | $7.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $1.8B | ||
| Q1 24 | — | — |
| Q4 25 | $1.2B | $3.5B | ||
| Q3 25 | $917.3M | $3.3B | ||
| Q2 25 | $822.4M | $3.1B | ||
| Q1 25 | $765.2M | $2.9B | ||
| Q4 24 | $732.8M | $2.8B | ||
| Q3 24 | $577.2M | $2.8B | ||
| Q2 24 | $516.7M | $2.7B | ||
| Q1 24 | $464.0M | $2.6B |
| Q4 25 | $1.6B | $13.0B | ||
| Q3 25 | $1.3B | $11.5B | ||
| Q2 25 | $1.2B | $11.2B | ||
| Q1 25 | $1.1B | $10.4B | ||
| Q4 24 | $1.2B | $10.5B | ||
| Q3 24 | $976.9M | $10.1B | ||
| Q2 24 | $914.1M | $9.5B | ||
| Q1 24 | $855.1M | $9.2B |
| Q4 25 | — | 2.54× | ||
| Q3 25 | — | 2.35× | ||
| Q2 25 | — | 2.48× | ||
| Q1 25 | — | 2.49× | ||
| Q4 24 | — | 2.62× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.67× | ||
| Q1 24 | — | — |
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 | $-48.7M | $173.7M |
| Free Cash FlowOCF − Capex | — | $118.0M |
| FCF MarginFCF / Revenue | — | 29.4% |
| Capex IntensityCapex / Revenue | — | 13.9% |
| Cash ConversionOCF / Net Profit | -0.18× | 1.34× |
| TTM Free Cash FlowTrailing 4 quarters | — | $619.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-48.7M | $173.7M | ||
| Q3 25 | $74.3M | $374.6M | ||
| Q2 25 | $64.0M | $74.6M | ||
| Q1 25 | $20.3M | $210.4M | ||
| Q4 24 | $40.4M | $312.0M | ||
| Q3 24 | $63.2M | $196.9M | ||
| Q2 24 | $25.0M | $68.8M | ||
| Q1 24 | $29.1M | $208.2M |
| Q4 25 | — | $118.0M | ||
| Q3 25 | $73.9M | $320.2M | ||
| Q2 25 | — | $23.5M | ||
| Q1 25 | — | $157.4M | ||
| Q4 24 | — | $268.1M | ||
| Q3 24 | $63.2M | $152.7M | ||
| Q2 24 | — | $30.5M | ||
| Q1 24 | — | $161.7M |
| Q4 25 | — | 29.4% | ||
| Q3 25 | 26.5% | 99.9% | ||
| Q2 25 | — | 7.7% | ||
| Q1 25 | — | 57.7% | ||
| Q4 24 | — | 88.5% | ||
| Q3 24 | 25.2% | 65.9% | ||
| Q2 24 | — | 13.6% | ||
| Q1 24 | — | 82.9% |
| Q4 25 | — | 13.9% | ||
| Q3 25 | 0.1% | 17.0% | ||
| Q2 25 | — | 16.7% | ||
| Q1 25 | — | 19.5% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | 0.0% | 19.0% | ||
| Q2 24 | — | 17.1% | ||
| Q1 24 | — | 23.8% |
| Q4 25 | -0.18× | 1.34× | ||
| Q3 25 | 1.03× | 4.64× | ||
| Q2 25 | 2.40× | 1.08× | ||
| Q1 25 | 1.07× | 75.03× | ||
| Q4 24 | 0.28× | 3.88× | ||
| Q3 24 | 1.93× | — | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | 1.76× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACAD
| Nuplazid | $174.4M | 61% |
| Daybue | $109.6M | 39% |
AFRM
| Merchant Network | $328.4M | 82% |
| Virtual Card Network | $73.0M | 18% |
| Commercial Agreement Amazon | $1.9M | 0% |
