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Side-by-side financial comparison of Arcellx, Inc. (ACLX) and Borealis Foods Inc. (BRLS). Click either name above to swap in a different company.
Arcellx, Inc. is the larger business by last-quarter revenue ($8.1M vs $7.1M, roughly 1.1× Borealis Foods Inc.). Borealis Foods Inc. runs the higher net margin — -53.2% vs -766.0%, a 712.8% gap on every dollar of revenue. On growth, Borealis Foods Inc. posted the faster year-over-year revenue change (-12.0% vs -79.3%). Over the past eight quarters, Borealis Foods Inc.'s revenue compounded faster (-2.4% CAGR vs -24.6%).
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.
Borealis Foods Inc is a food technology enterprise specializing in developing and producing high-quality plant-based protein products including plant-based meat alternatives. It mainly serves retail and food service customers across North America and Europe, focusing on delivering affordable, nutritious sustainable food options matching the taste of conventional animal-derived meat.
ACLX vs BRLS — Head-to-Head
Income Statement — Q1 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.1M | $7.1M |
| Net Profit | $-62.3M | $-3.8M |
| Gross Margin | — | 14.6% |
| Operating Margin | -847.6% | -27.1% |
| Net Margin | -766.0% | -53.2% |
| Revenue YoY | -79.3% | -12.0% |
| Net Profit YoY | -765.1% | 21.8% |
| EPS (diluted) | $-1.13 | $-0.18 |
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 | — | $7.1M | ||
| Q2 25 | — | $7.2M | ||
| Q1 25 | $8.1M | $6.8M | ||
| Q4 24 | $15.3M | $6.8M | ||
| Q3 24 | $26.0M | $8.1M | ||
| Q2 24 | $27.4M | $5.5M | ||
| Q1 24 | $39.3M | $7.9M | ||
| Q4 23 | $63.1M | $7.5M |
| Q3 25 | — | $-3.8M | ||
| Q2 25 | — | $-4.6M | ||
| Q1 25 | $-62.3M | $-4.2M | ||
| Q4 24 | $-47.1M | $-5.8M | ||
| Q3 24 | $-25.9M | $-4.8M | ||
| Q2 24 | $-27.2M | $-6.3M | ||
| Q1 24 | $-7.2M | $-8.4M | ||
| Q4 23 | $19.8M | $-6.7M |
| Q3 25 | — | 14.6% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | 13.1% | ||
| Q4 24 | — | 3.7% | ||
| Q3 24 | — | 15.8% | ||
| Q2 24 | — | 7.7% | ||
| Q1 24 | — | 3.1% | ||
| Q4 23 | — | 7.5% |
| Q3 25 | — | -27.1% | ||
| Q2 25 | — | -46.7% | ||
| Q1 25 | -847.6% | -42.6% | ||
| Q4 24 | -348.2% | -68.4% | ||
| Q3 24 | -129.1% | -44.8% | ||
| Q2 24 | -127.8% | -94.8% | ||
| Q1 24 | -40.3% | -88.3% | ||
| Q4 23 | 23.8% | -60.5% |
| Q3 25 | — | -53.2% | ||
| Q2 25 | — | -64.0% | ||
| Q1 25 | -766.0% | -61.2% | ||
| Q4 24 | -308.4% | -85.3% | ||
| Q3 24 | -99.4% | -59.8% | ||
| Q2 24 | -99.3% | -115.0% | ||
| Q1 24 | -18.3% | -106.8% | ||
| Q4 23 | 31.4% | -89.3% |
| Q3 25 | — | $-0.18 | ||
| Q2 25 | — | $0.21 | ||
| Q1 25 | $-1.13 | $-0.20 | ||
| Q4 24 | $-0.87 | $-0.82 | ||
| Q3 24 | $-0.48 | $-0.23 | ||
| Q2 24 | $-0.51 | $0.29 | ||
| Q1 24 | $-0.14 | $-0.49 | ||
| Q4 23 | $0.42 | $-0.63 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $543.3M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $416.9M | $-12.9M |
| Total Assets | $648.1M | $56.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $543.3M | — | ||
| Q4 24 | $587.4M | — | ||
| Q3 24 | $574.3M | — | ||
| Q2 24 | $516.7M | — | ||
| Q1 24 | $573.9M | — | ||
| Q4 23 | $702.0M | — |
| Q3 25 | — | $-12.9M | ||
| Q2 25 | — | $-9.2M | ||
| Q1 25 | $416.9M | $-4.8M | ||
| Q4 24 | $454.8M | $-695.9K | ||
| Q3 24 | $483.0M | $5.1M | ||
| Q2 24 | $487.2M | $9.9M | ||
| Q1 24 | $496.6M | $16.2M | ||
| Q4 23 | $485.4M | $-21.3M |
| Q3 25 | — | $56.3M | ||
| Q2 25 | — | $57.3M | ||
| Q1 25 | $648.1M | $58.4M | ||
| Q4 24 | $711.3M | $60.0M | ||
| Q3 24 | $764.9M | $61.9M | ||
| Q2 24 | $734.3M | $63.6M | ||
| Q1 24 | $779.7M | $70.3M | ||
| Q4 23 | $825.1M | $65.8M |
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 | $-63.1M | $-190.6K |
| Free Cash FlowOCF − Capex | $-63.9M | — |
| FCF MarginFCF / Revenue | -786.4% | — |
| Capex IntensityCapex / Revenue | 9.6% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-122.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $-190.6K | ||
| Q2 25 | — | $-2.2M | ||
| Q1 25 | $-63.1M | $-1.4M | ||
| Q4 24 | $-46.0M | $-819.4K | ||
| Q3 24 | $30.7M | $-3.3M | ||
| Q2 24 | $-36.2M | $-4.2M | ||
| Q1 24 | $-31.9M | $-6.8M | ||
| Q4 23 | $58.2M | $-1.9M |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-63.9M | $-1.4M | ||
| Q4 24 | $-47.5M | $-951.6K | ||
| Q3 24 | $28.4M | $-3.7M | ||
| Q2 24 | $-39.5M | $-4.7M | ||
| Q1 24 | $-38.3M | $-7.3M | ||
| Q4 23 | $53.0M | $-2.9M |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -786.4% | -20.3% | ||
| Q4 24 | -311.3% | -14.1% | ||
| Q3 24 | 109.2% | -46.1% | ||
| Q2 24 | -144.1% | -86.7% | ||
| Q1 24 | -97.7% | -92.7% | ||
| Q4 23 | 83.9% | -38.9% |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 9.6% | 0.2% | ||
| Q4 24 | 9.8% | 2.0% | ||
| Q3 24 | 8.8% | 5.6% | ||
| Q2 24 | 11.7% | 9.4% | ||
| Q1 24 | 16.4% | 7.0% | ||
| Q4 23 | 8.4% | 12.7% |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | 2.94× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
