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Side-by-side financial comparison of Arcellx, Inc. (ACLX) and Invivyd, Inc. (IVVD). Click either name above to swap in a different company.
Invivyd, Inc. is the larger business by last-quarter revenue ($17.2M vs $8.1M, roughly 2.1× Arcellx, Inc.). Invivyd, Inc. runs the higher net margin — -64.3% vs -766.0%, a 701.7% gap on every dollar of revenue. On growth, Invivyd, Inc. posted the faster year-over-year revenue change (24.5% vs -79.3%).
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.
Invivyd, Inc. is a clinical-stage biopharmaceutical company focused on developing broadly neutralizing antibody therapies to prevent and treat serious viral infectious diseases. Its core research and development pipeline targets high-burden respiratory pathogens including respiratory syncytial virus, catering to unmet medical needs of global patient groups.
ACLX vs IVVD — Head-to-Head
Income Statement — Q1 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.1M | $17.2M |
| Net Profit | $-62.3M | $-11.1M |
| Gross Margin | — | — |
| Operating Margin | -847.6% | -73.0% |
| Net Margin | -766.0% | -64.3% |
| Revenue YoY | -79.3% | 24.5% |
| Net Profit YoY | -765.1% | 40.0% |
| EPS (diluted) | $-1.13 | $0.02 |
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 | — | $17.2M | ||
| Q3 25 | — | $13.1M | ||
| Q2 25 | — | $11.8M | ||
| Q1 25 | $8.1M | $11.3M | ||
| Q4 24 | $15.3M | $13.8M | ||
| Q3 24 | $26.0M | $9.3M | ||
| Q2 24 | $27.4M | $2.3M | ||
| Q1 24 | $39.3M | $0 |
| Q4 25 | — | $-11.1M | ||
| Q3 25 | — | $-10.5M | ||
| Q2 25 | — | $-14.7M | ||
| Q1 25 | $-62.3M | $-16.3M | ||
| Q4 24 | $-47.1M | $-18.4M | ||
| Q3 24 | $-25.9M | $-60.7M | ||
| Q2 24 | $-27.2M | $-47.2M | ||
| Q1 24 | $-7.2M | $-43.5M |
| Q4 25 | — | -73.0% | ||
| Q3 25 | — | -84.0% | ||
| Q2 25 | — | -127.8% | ||
| Q1 25 | -847.6% | -149.7% | ||
| Q4 24 | -348.2% | -139.1% | ||
| Q3 24 | -129.1% | -670.0% | ||
| Q2 24 | -127.8% | -2175.2% | ||
| Q1 24 | -40.3% | — |
| Q4 25 | — | -64.3% | ||
| Q3 25 | — | -79.7% | ||
| Q2 25 | — | -124.4% | ||
| Q1 25 | -766.0% | -144.1% | ||
| Q4 24 | -308.4% | -133.5% | ||
| Q3 24 | -99.4% | -653.1% | ||
| Q2 24 | -99.3% | -2086.9% | ||
| Q1 24 | -18.3% | — |
| Q4 25 | — | $0.02 | ||
| Q3 25 | — | $-0.06 | ||
| Q2 25 | — | $-0.12 | ||
| Q1 25 | $-1.13 | $-0.14 | ||
| Q4 24 | $-0.87 | $-0.14 | ||
| Q3 24 | $-0.48 | $-0.51 | ||
| Q2 24 | $-0.51 | $-0.40 | ||
| Q1 24 | $-0.14 | $-0.38 |
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 | $226.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $416.9M | $241.5M |
| Total Assets | $648.1M | $276.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $226.7M | ||
| Q3 25 | — | $85.0M | ||
| Q2 25 | — | $34.9M | ||
| Q1 25 | $543.3M | $48.1M | ||
| Q4 24 | $587.4M | $69.3M | ||
| Q3 24 | $574.3M | $106.9M | ||
| Q2 24 | $516.7M | $147.9M | ||
| Q1 24 | $573.9M | $189.4M |
| Q4 25 | — | $241.5M | ||
| Q3 25 | — | $93.1M | ||
| Q2 25 | — | $42.8M | ||
| Q1 25 | $416.9M | $54.1M | ||
| Q4 24 | $454.8M | $67.5M | ||
| Q3 24 | $483.0M | $83.2M | ||
| Q2 24 | $487.2M | $140.6M | ||
| Q1 24 | $496.6M | $178.5M |
| Q4 25 | — | $276.9M | ||
| Q3 25 | — | $139.2M | ||
| Q2 25 | — | $89.1M | ||
| Q1 25 | $648.1M | $103.7M | ||
| Q4 24 | $711.3M | $129.5M | ||
| Q3 24 | $764.9M | $161.9M | ||
| Q2 24 | $734.3M | $177.3M | ||
| Q1 24 | $779.7M | $215.5M |
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 | $-63.1M | $-15.5M |
| Free Cash FlowOCF − Capex | $-63.9M | — |
| FCF MarginFCF / Revenue | -786.4% | — |
| Capex IntensityCapex / Revenue | 9.6% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-122.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-15.5M | ||
| Q3 25 | — | $-8.3M | ||
| Q2 25 | — | $-13.3M | ||
| Q1 25 | $-63.1M | $-21.1M | ||
| Q4 24 | $-46.0M | $-37.6M | ||
| Q3 24 | $30.7M | $-41.1M | ||
| Q2 24 | $-36.2M | $-41.6M | ||
| Q1 24 | $-31.9M | $-50.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-13.3M | ||
| Q1 25 | $-63.9M | $-21.3M | ||
| Q4 24 | $-47.5M | $-37.6M | ||
| Q3 24 | $28.4M | $-41.1M | ||
| Q2 24 | $-39.5M | — | ||
| Q1 24 | $-38.3M | $-50.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -112.9% | ||
| Q1 25 | -786.4% | -188.2% | ||
| Q4 24 | -311.3% | -272.2% | ||
| Q3 24 | 109.2% | -441.6% | ||
| Q2 24 | -144.1% | — | ||
| Q1 24 | -97.7% | — |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | 9.6% | 1.3% | ||
| Q4 24 | 9.8% | 0.0% | ||
| Q3 24 | 8.8% | 0.1% | ||
| Q2 24 | 11.7% | 0.0% | ||
| Q1 24 | 16.4% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
