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Side-by-side financial comparison of ACADIA PHARMACEUTICALS INC (ACAD) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $284.0M, roughly 1.3× ACADIA PHARMACEUTICALS INC). ACADIA PHARMACEUTICALS INC runs the higher net margin — 96.3% vs -1.9%, a 98.3% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs 9.4%). Over the past eight quarters, ACADIA PHARMACEUTICALS INC's revenue compounded faster (17.5% CAGR vs 10.2%).
Acadia Pharmaceuticals Inc. is a biopharmaceutical company headquartered in Del Mar, San Diego, California.
Innovate Corp. is an American public financial services company founded in 1994.
ACAD vs VATE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $284.0M | $382.7M |
| Net Profit | $273.6M | $-7.4M |
| Gross Margin | 90.8% | 15.4% |
| Operating Margin | 6.1% | 3.7% |
| Net Margin | 96.3% | -1.9% |
| Revenue YoY | 9.4% | 61.7% |
| Net Profit YoY | 90.3% | 55.4% |
| EPS (diluted) | $1.61 | $-0.57 |
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 | $382.7M | ||
| Q3 25 | $278.6M | $347.1M | ||
| Q2 25 | $264.6M | $242.0M | ||
| Q1 25 | $244.3M | $274.2M | ||
| Q4 24 | $259.6M | $236.6M | ||
| Q3 24 | $250.4M | $242.2M | ||
| Q2 24 | $242.0M | $313.1M | ||
| Q1 24 | $205.8M | $315.2M |
| Q4 25 | $273.6M | $-7.4M | ||
| Q3 25 | $71.8M | $-8.9M | ||
| Q2 25 | $26.7M | $-19.8M | ||
| Q1 25 | $19.0M | $-24.5M | ||
| Q4 24 | $143.7M | $-16.6M | ||
| Q3 24 | $32.8M | $-15.0M | ||
| Q2 24 | $33.4M | $14.4M | ||
| Q1 24 | $16.6M | $-17.4M |
| Q4 25 | 90.8% | 15.4% | ||
| Q3 25 | 92.2% | 14.3% | ||
| Q2 25 | 92.2% | 18.8% | ||
| Q1 25 | 91.7% | 16.6% | ||
| Q4 24 | 91.6% | 19.6% | ||
| Q3 24 | 92.5% | 19.9% | ||
| Q2 24 | 92.5% | 21.0% | ||
| Q1 24 | 88.8% | 15.4% |
| Q4 25 | 6.1% | 3.7% | ||
| Q3 25 | 12.8% | 1.8% | ||
| Q2 25 | 12.2% | 2.0% | ||
| Q1 25 | 7.9% | 1.2% | ||
| Q4 24 | 59.1% | 1.1% | ||
| Q3 24 | 12.6% | 2.4% | ||
| Q2 24 | 12.6% | 9.2% | ||
| Q1 24 | 7.4% | 0.9% |
| Q4 25 | 96.3% | -1.9% | ||
| Q3 25 | 25.8% | -2.6% | ||
| Q2 25 | 10.1% | -8.2% | ||
| Q1 25 | 7.8% | -8.9% | ||
| Q4 24 | 55.4% | -7.0% | ||
| Q3 24 | 13.1% | -6.2% | ||
| Q2 24 | 13.8% | 4.6% | ||
| Q1 24 | 8.0% | -5.5% |
| Q4 25 | $1.61 | $-0.57 | ||
| Q3 25 | $0.42 | $-0.71 | ||
| Q2 25 | $0.16 | $-1.67 | ||
| Q1 25 | $0.11 | $-1.89 | ||
| Q4 24 | $0.86 | $-0.72 | ||
| Q3 24 | $0.20 | $-1.18 | ||
| Q2 24 | $0.20 | $1.03 | ||
| Q1 24 | $0.10 | $-2.21 |
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 | $112.1M |
| Total DebtLower is stronger | — | $80.3M |
| Stockholders' EquityBook value | $1.2B | $-240.1M |
| Total Assets | $1.6B | $950.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $177.7M | $112.1M | ||
| Q3 25 | $258.0M | $35.5M | ||
| Q2 25 | $253.6M | $33.4M | ||
| Q1 25 | $217.7M | $33.3M | ||
| Q4 24 | $319.6M | $48.8M | ||
| Q3 24 | $155.1M | $51.0M | ||
| Q2 24 | $177.1M | $80.2M | ||
| Q1 24 | $204.7M | $38.4M |
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | — | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
| Q4 25 | $1.2B | $-240.1M | ||
| Q3 25 | $917.3M | $-233.3M | ||
| Q2 25 | $822.4M | $-224.8M | ||
| Q1 25 | $765.2M | $-204.2M | ||
| Q4 24 | $732.8M | $-180.4M | ||
| Q3 24 | $577.2M | $-163.1M | ||
| Q2 24 | $516.7M | $-149.0M | ||
| Q1 24 | $464.0M | $-184.4M |
| Q4 25 | $1.6B | $950.1M | ||
| Q3 25 | $1.3B | $913.2M | ||
| Q2 25 | $1.2B | $890.9M | ||
| Q1 25 | $1.1B | $868.0M | ||
| Q4 24 | $1.2B | $891.1M | ||
| Q3 24 | $976.9M | $897.2M | ||
| Q2 24 | $914.1M | $898.9M | ||
| Q1 24 | $855.1M | $943.5M |
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 | $101.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | -0.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-48.7M | $101.1M | ||
| Q3 25 | $74.3M | $19.2M | ||
| Q2 25 | $64.0M | $40.4M | ||
| Q1 25 | $20.3M | $-14.1M | ||
| Q4 24 | $40.4M | $41.4M | ||
| Q3 24 | $63.2M | $-28.4M | ||
| Q2 24 | $25.0M | $21.5M | ||
| Q1 24 | $29.1M | $-25.4M |
| Q4 25 | — | — | ||
| Q3 25 | $73.9M | $19.0M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-18.8M | ||
| Q4 24 | — | $34.2M | ||
| Q3 24 | $63.2M | $-31.5M | ||
| Q2 24 | — | $18.4M | ||
| Q1 24 | — | $-31.0M |
| Q4 25 | — | — | ||
| Q3 25 | 26.5% | 5.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -6.9% | ||
| Q4 24 | — | 14.5% | ||
| Q3 24 | 25.2% | -13.0% | ||
| Q2 24 | — | 5.9% | ||
| Q1 24 | — | -9.8% |
| Q4 25 | — | — | ||
| Q3 25 | 0.1% | 0.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | 0.0% | 1.3% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 1.8% |
| Q4 25 | -0.18× | — | ||
| Q3 25 | 1.03× | — | ||
| Q2 25 | 2.40× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 0.28× | — | ||
| Q3 24 | 1.93× | — | ||
| Q2 24 | 0.75× | 1.49× | ||
| 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% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
