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Side-by-side financial comparison of Arcellx, Inc. (ACLX) and Spire Global, Inc. (SPIR). Click either name above to swap in a different company.
Spire Global, Inc. is the larger business by last-quarter revenue ($15.8M vs $8.1M, roughly 1.9× Arcellx, Inc.). Spire Global, Inc. runs the higher net margin — -176.6% vs -766.0%, a 589.4% gap on every dollar of revenue. On growth, Spire Global, Inc. posted the faster year-over-year revenue change (-26.9% vs -79.3%). Spire Global, Inc. produced more free cash flow last quarter ($-16.2M vs $-63.9M). Over the past eight quarters, Arcellx, Inc.'s revenue compounded faster (-24.6% CAGR vs -32.6%).
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.
Spire Global, Inc. is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites, such as the tracking of maritime, aviation and weather patterns.
ACLX vs SPIR — Head-to-Head
Income Statement — Q1 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $8.1M | $15.8M |
| Net Profit | $-62.3M | $-28.0M |
| Gross Margin | — | 40.2% |
| Operating Margin | -847.6% | -164.1% |
| Net Margin | -766.0% | -176.6% |
| Revenue YoY | -79.3% | -26.9% |
| Net Profit YoY | -765.1% | 42.7% |
| EPS (diluted) | $-1.13 | $-0.85 |
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 | — | $15.8M | ||
| Q3 25 | — | $12.7M | ||
| Q2 25 | — | $19.2M | ||
| Q1 25 | $8.1M | $23.9M | ||
| Q4 24 | $15.3M | $21.7M | ||
| Q3 24 | $26.0M | $28.6M | ||
| Q2 24 | $27.4M | $25.4M | ||
| Q1 24 | $39.3M | $34.8M |
| Q4 25 | — | $-28.0M | ||
| Q3 25 | — | $-19.7M | ||
| Q2 25 | — | $119.6M | ||
| Q1 25 | $-62.3M | $-20.7M | ||
| Q4 24 | $-47.1M | $-48.8M | ||
| Q3 24 | $-25.9M | $-12.5M | ||
| Q2 24 | $-27.2M | $-16.6M | ||
| Q1 24 | $-7.2M | $-25.5M |
| Q4 25 | — | 40.2% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | — | 48.9% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | — | 44.5% | ||
| Q2 24 | — | 43.0% | ||
| Q1 24 | — | 26.5% |
| Q4 25 | — | -164.1% | ||
| Q3 25 | — | -166.1% | ||
| Q2 25 | — | -122.7% | ||
| Q1 25 | -847.6% | -106.5% | ||
| Q4 24 | -348.2% | -144.1% | ||
| Q3 24 | -129.1% | -48.0% | ||
| Q2 24 | -127.8% | -48.6% | ||
| Q1 24 | -40.3% | -34.4% |
| Q4 25 | — | -176.6% | ||
| Q3 25 | — | -155.3% | ||
| Q2 25 | — | 623.4% | ||
| Q1 25 | -766.0% | -86.5% | ||
| Q4 24 | -308.4% | -225.2% | ||
| Q3 24 | -99.4% | -43.7% | ||
| Q2 24 | -99.3% | -65.2% | ||
| Q1 24 | -18.3% | -73.3% |
| Q4 25 | — | $-0.85 | ||
| Q3 25 | — | $-0.61 | ||
| Q2 25 | — | $3.72 | ||
| Q1 25 | $-1.13 | $-0.77 | ||
| Q4 24 | $-0.87 | $-1.93 | ||
| Q3 24 | $-0.48 | $-0.50 | ||
| Q2 24 | $-0.51 | $-0.68 | ||
| Q1 24 | $-0.14 | $-1.17 |
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 | $81.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $416.9M | $112.9M |
| Total Assets | $648.1M | $211.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $81.8M | ||
| Q3 25 | — | $96.8M | ||
| Q2 25 | — | $117.6M | ||
| Q1 25 | $543.3M | $35.9M | ||
| Q4 24 | $587.4M | $19.2M | ||
| Q3 24 | $574.3M | $36.6M | ||
| Q2 24 | $516.7M | $45.8M | ||
| Q1 24 | $573.9M | $63.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | — | $103.1M | ||
| Q3 24 | — | $4.9M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $123.1M |
| Q4 25 | — | $112.9M | ||
| Q3 25 | — | $133.1M | ||
| Q2 25 | — | $149.2M | ||
| Q1 25 | $416.9M | $3.7M | ||
| Q4 24 | $454.8M | $-11.7M | ||
| Q3 24 | $483.0M | $30.8M | ||
| Q2 24 | $487.2M | $40.3M | ||
| Q1 24 | $496.6M | $52.5M |
| Q4 25 | — | $211.0M | ||
| Q3 25 | — | $224.3M | ||
| Q2 25 | — | $239.5M | ||
| Q1 25 | $648.1M | $208.8M | ||
| Q4 24 | $711.3M | $193.6M | ||
| Q3 24 | $764.9M | $224.2M | ||
| Q2 24 | $734.3M | $230.8M | ||
| Q1 24 | $779.7M | $252.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 27.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 2.35× |
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 | $-4.3M |
| Free Cash FlowOCF − Capex | $-63.9M | $-16.2M |
| FCF MarginFCF / Revenue | -786.4% | -102.1% |
| Capex IntensityCapex / Revenue | 9.6% | 75.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-122.5M | $-92.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-4.3M | ||
| Q3 25 | — | $-12.0M | ||
| Q2 25 | — | $-35.1M | ||
| Q1 25 | $-63.1M | $-8.4M | ||
| Q4 24 | $-46.0M | $-19.2M | ||
| Q3 24 | $30.7M | $14.0M | ||
| Q2 24 | $-36.2M | $-4.4M | ||
| Q1 24 | $-31.9M | $-8.8M |
| Q4 25 | — | $-16.2M | ||
| Q3 25 | — | $-20.4M | ||
| Q2 25 | — | $-38.7M | ||
| Q1 25 | $-63.9M | $-17.3M | ||
| Q4 24 | $-47.5M | $-24.3M | ||
| Q3 24 | $28.4M | $5.1M | ||
| Q2 24 | $-39.5M | $-9.9M | ||
| Q1 24 | $-38.3M | $-15.9M |
| Q4 25 | — | -102.1% | ||
| Q3 25 | — | -161.3% | ||
| Q2 25 | — | -201.7% | ||
| Q1 25 | -786.4% | -72.6% | ||
| Q4 24 | -311.3% | -112.2% | ||
| Q3 24 | 109.2% | 17.8% | ||
| Q2 24 | -144.1% | -39.0% | ||
| Q1 24 | -97.7% | -45.7% |
| Q4 25 | — | 75.1% | ||
| Q3 25 | — | 66.2% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | 9.6% | 37.3% | ||
| Q4 24 | 9.8% | 23.5% | ||
| Q3 24 | 8.8% | 31.2% | ||
| Q2 24 | 11.7% | 21.8% | ||
| Q1 24 | 16.4% | 20.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.29× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
