vs
Side-by-side financial comparison of Arcellx, Inc. (ACLX) and AGENUS INC (AGEN). Click either name above to swap in a different company.
AGENUS INC is the larger business by last-quarter revenue ($34.2M vs $1.7M, roughly 20.7× Arcellx, Inc.). AGENUS INC runs the higher net margin — -31.0% vs -3513.4%, a 3482.4% gap on every dollar of revenue. On growth, AGENUS INC posted the faster year-over-year revenue change (27.5% vs -89.2%). Over the past eight quarters, AGENUS INC's revenue compounded faster (10.5% CAGR vs -79.5%).
Arcellx, Inc. is a clinical-stage biotechnology company that develops innovative chimeric antigen receptor T (CAR-T) cell therapies for treating hard-to-treat cancers including hematologic malignancies and solid tumors. Its core pipeline targets unmet oncology medical needs, serving global patient populations and partnering with life sciences stakeholders.
Agenus Inc. is a Lexington, Massachusetts-based biotechnology company focused on immunotherapy including immuno-oncology, a field that uses the immune system to control or cure cancer. The company is developing checkpoint modulators (CPMs), patient-specific anti-cancer vaccines, and adjuvants designed for use with various vaccines. CPM development is a particularly fast-moving field, since early products have produced unprecedented clinical benefits for patients.
ACLX vs AGEN — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $1.7M | $34.2M |
| Net Profit | $-58.1M | $-10.6M |
| Gross Margin | — | — |
| Operating Margin | -3850.2% | 42.1% |
| Net Margin | -3513.4% | -31.0% |
| Revenue YoY | -89.2% | 27.5% |
| Net Profit YoY | -23.4% | 77.3% |
| EPS (diluted) | $-1.01 | $0.09 |
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 | $1.7M | $34.2M | ||
| Q3 25 | $4.9M | $30.2M | ||
| Q2 25 | $7.6M | $25.7M | ||
| Q1 25 | $8.1M | $24.1M | ||
| Q4 24 | $15.3M | $26.8M | ||
| Q3 24 | $26.0M | $25.1M | ||
| Q2 24 | $27.4M | $23.5M | ||
| Q1 24 | $39.3M | $28.0M |
| Q4 25 | $-58.1M | $-10.6M | ||
| Q3 25 | $-55.8M | $63.9M | ||
| Q2 25 | $-52.8M | $-30.0M | ||
| Q1 25 | $-62.3M | $-26.4M | ||
| Q4 24 | $-47.1M | $-46.8M | ||
| Q3 24 | $-25.9M | $-67.2M | ||
| Q2 24 | $-27.2M | $-54.8M | ||
| Q1 24 | $-7.2M | $-63.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | 97.9% | ||
| Q2 25 | — | 99.1% | ||
| Q1 25 | — | 99.4% | ||
| Q4 24 | — | 99.6% | ||
| Q3 24 | — | 99.4% | ||
| Q2 24 | — | 99.5% | ||
| Q1 24 | — | 99.6% |
| Q4 25 | -3850.2% | 42.1% | ||
| Q3 25 | -1248.3% | -15.0% | ||
| Q2 25 | -777.4% | -65.0% | ||
| Q1 25 | -847.6% | -55.3% | ||
| Q4 24 | -348.2% | -96.5% | ||
| Q3 24 | -129.1% | -125.5% | ||
| Q2 24 | -127.8% | -128.4% | ||
| Q1 24 | -40.3% | -117.4% |
| Q4 25 | -3513.4% | -31.0% | ||
| Q3 25 | -1127.1% | 211.4% | ||
| Q2 25 | -698.6% | -116.8% | ||
| Q1 25 | -766.0% | -109.6% | ||
| Q4 24 | -308.4% | -174.4% | ||
| Q3 24 | -99.4% | -267.7% | ||
| Q2 24 | -99.3% | -233.1% | ||
| Q1 24 | -18.3% | -226.6% |
| Q4 25 | $-1.01 | $0.09 | ||
| Q3 25 | $-0.99 | $1.94 | ||
| Q2 25 | $-0.94 | $-1.00 | ||
| Q1 25 | $-1.13 | $-1.03 | ||
| Q4 24 | $-0.87 | $-1.95 | ||
| Q3 24 | $-0.48 | $-3.08 | ||
| Q2 24 | $-0.51 | $-2.52 | ||
| Q1 24 | $-0.14 | $-3.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $450.3M | $3.0M |
| Total DebtLower is stronger | — | $44.7M |
| Stockholders' EquityBook value | $402.4M | $-271.1M |
| Total Assets | $604.0M | $226.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $450.3M | $3.0M | ||
| Q3 25 | $461.4M | $3.5M | ||
| Q2 25 | $453.1M | $9.5M | ||
| Q1 25 | $543.3M | $18.5M | ||
| Q4 24 | $587.4M | $40.4M | ||
| Q3 24 | $574.3M | $44.8M | ||
| Q2 24 | $516.7M | $93.7M | ||
| Q1 24 | $573.9M | $52.9M |
| Q4 25 | — | $44.7M | ||
| Q3 25 | — | $34.2M | ||
| Q2 25 | — | $33.9M | ||
| Q1 25 | — | $33.6M | ||
| Q4 24 | — | $33.2M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $402.4M | $-271.1M | ||
| Q3 25 | $440.8M | $-274.1M | ||
| Q2 25 | $392.2M | $-354.6M | ||
| Q1 25 | $416.9M | $-341.8M | ||
| Q4 24 | $454.8M | $-326.4M | ||
| Q3 24 | $483.0M | $-292.3M | ||
| Q2 24 | $487.2M | $-241.3M | ||
| Q1 24 | $496.6M | $-201.4M |
| Q4 25 | $604.0M | $226.8M | ||
| Q3 25 | $655.9M | $233.9M | ||
| Q2 25 | $619.1M | $185.2M | ||
| Q1 25 | $648.1M | $200.2M | ||
| Q4 24 | $711.3M | $226.3M | ||
| Q3 24 | $764.9M | $238.5M | ||
| Q2 24 | $734.3M | $292.4M | ||
| Q1 24 | $779.7M | $256.6M |
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 | $-58.2M | $-16.6M |
| Free Cash FlowOCF − Capex | $-58.9M | — |
| FCF MarginFCF / Revenue | -3563.4% | — |
| Capex IntensityCapex / Revenue | 46.2% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-212.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-58.2M | $-16.6M | ||
| Q3 25 | $-49.2M | $-14.7M | ||
| Q2 25 | $-39.7M | $-20.2M | ||
| Q1 25 | $-63.1M | $-25.6M | ||
| Q4 24 | $-46.0M | $-28.7M | ||
| Q3 24 | $30.7M | $-53.3M | ||
| Q2 24 | $-36.2M | $-38.2M | ||
| Q1 24 | $-31.9M | $-38.2M |
| Q4 25 | $-58.9M | — | ||
| Q3 25 | $-49.5M | — | ||
| Q2 25 | $-40.2M | $-20.2M | ||
| Q1 25 | $-63.9M | $-25.6M | ||
| Q4 24 | $-47.5M | $-28.7M | ||
| Q3 24 | $28.4M | $-53.3M | ||
| Q2 24 | $-39.5M | $-38.6M | ||
| Q1 24 | $-38.3M | $-38.2M |
| Q4 25 | -3563.4% | — | ||
| Q3 25 | -1000.3% | — | ||
| Q2 25 | -532.4% | -78.7% | ||
| Q1 25 | -786.4% | -106.5% | ||
| Q4 24 | -311.3% | -107.0% | ||
| Q3 24 | 109.2% | -212.2% | ||
| Q2 24 | -144.1% | -164.4% | ||
| Q1 24 | -97.7% | -136.5% |
| Q4 25 | 46.2% | 0.0% | ||
| Q3 25 | 6.0% | 0.0% | ||
| Q2 25 | 6.4% | 0.0% | ||
| Q1 25 | 9.6% | 0.0% | ||
| Q4 24 | 9.8% | 0.3% | ||
| Q3 24 | 8.8% | 0.0% | ||
| Q2 24 | 11.7% | 2.0% | ||
| Q1 24 | 16.4% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | -0.23× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
