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Side-by-side financial comparison of Alpha Cognition Inc. (ACOG) and ADMA BIOLOGICS, INC. (ADMA). Click either name above to swap in a different company.
ADMA BIOLOGICS, INC. is the larger business by last-quarter revenue ($139.2M vs $2.8M, roughly 49.8× Alpha Cognition Inc.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs -245.5%, a 281.0% gap on every dollar of revenue. ADMA BIOLOGICS, INC. produced more free cash flow last quarter ($34.6M vs $-7.1M).
ADMA Biologics Inc. is a biopharmaceutical enterprise focused on the research, development, manufacturing and commercialization of specialty plasma-derived immunoglobulin therapies. It primarily operates in the United States, catering to patients with primary immunodeficiency and other immune-related disorders, healthcare providers and medical institutions across its core immune health therapeutic segment.
ACOG vs ADMA — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.8M | $139.2M |
| Net Profit | $-6.9M | $49.4M |
| Gross Margin | — | 63.8% |
| Operating Margin | -283.7% | 45.1% |
| Net Margin | -245.5% | 35.5% |
| Revenue YoY | — | 18.4% |
| Net Profit YoY | — | -55.9% |
| EPS (diluted) | $-0.10 | $0.20 |
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 | $2.8M | $139.2M | ||
| Q3 25 | $2.8M | $134.2M | ||
| Q2 25 | $1.7M | $122.0M | ||
| Q1 25 | $2.9M | $114.8M | ||
| Q4 24 | — | $117.5M | ||
| Q3 24 | — | $119.8M | ||
| Q2 24 | — | $107.2M | ||
| Q1 24 | — | $81.9M |
| Q4 25 | $-6.9M | $49.4M | ||
| Q3 25 | $-1.3M | $36.4M | ||
| Q2 25 | $-10.5M | $34.2M | ||
| Q1 25 | $-2.0M | $26.9M | ||
| Q4 24 | — | $111.9M | ||
| Q3 24 | — | $35.9M | ||
| Q2 24 | — | $32.1M | ||
| Q1 24 | — | $17.8M |
| Q4 25 | — | 63.8% | ||
| Q3 25 | — | 56.3% | ||
| Q2 25 | 96.7% | 55.1% | ||
| Q1 25 | 99.6% | 53.2% | ||
| Q4 24 | — | 53.9% | ||
| Q3 24 | — | 49.8% | ||
| Q2 24 | — | 53.6% | ||
| Q1 24 | — | 47.8% |
| Q4 25 | -283.7% | 45.1% | ||
| Q3 25 | -187.0% | 38.0% | ||
| Q2 25 | -346.1% | 35.1% | ||
| Q1 25 | -125.9% | 30.4% | ||
| Q4 24 | — | 32.6% | ||
| Q3 24 | — | 33.1% | ||
| Q2 24 | — | 36.6% | ||
| Q1 24 | — | 26.7% |
| Q4 25 | -245.5% | 35.5% | ||
| Q3 25 | -46.4% | 27.1% | ||
| Q2 25 | -632.7% | 28.1% | ||
| Q1 25 | -68.5% | 23.4% | ||
| Q4 24 | — | 95.2% | ||
| Q3 24 | — | 30.0% | ||
| Q2 24 | — | 29.9% | ||
| Q1 24 | — | 21.7% |
| Q4 25 | $-0.10 | $0.20 | ||
| Q3 25 | $-0.30 | $0.15 | ||
| Q2 25 | $-0.65 | $0.14 | ||
| Q1 25 | $-0.13 | $0.11 | ||
| Q4 24 | — | $0.45 | ||
| Q3 24 | — | $0.15 | ||
| Q2 24 | — | $0.13 | ||
| Q1 24 | — | $0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $66.0M | $87.6M |
| Total DebtLower is stronger | — | $72.1M |
| Stockholders' EquityBook value | $62.5M | $477.3M |
| Total Assets | $79.7M | $624.2M |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.0M | $87.6M | ||
| Q3 25 | $35.4M | $61.4M | ||
| Q2 25 | $39.4M | $90.3M | ||
| Q1 25 | $45.5M | $71.6M | ||
| Q4 24 | — | $103.1M | ||
| Q3 24 | — | $86.7M | ||
| Q2 24 | — | $88.2M | ||
| Q1 24 | — | $45.3M |
| Q4 25 | — | $72.1M | ||
| Q3 25 | — | $72.4M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $72.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $62.5M | $477.3M | ||
| Q3 25 | $33.9M | $431.2M | ||
| Q2 25 | $31.9M | $398.3M | ||
| Q1 25 | $40.8M | $373.4M | ||
| Q4 24 | — | $349.0M | ||
| Q3 24 | — | $231.9M | ||
| Q2 24 | — | $188.3M | ||
| Q1 24 | — | $153.7M |
| Q4 25 | $79.7M | $624.2M | ||
| Q3 25 | $46.3M | $568.7M | ||
| Q2 25 | $45.1M | $558.4M | ||
| Q1 25 | $48.6M | $510.6M | ||
| Q4 24 | — | $488.7M | ||
| Q3 24 | — | $390.6M | ||
| Q2 24 | — | $376.4M | ||
| Q1 24 | — | $350.9M |
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | 0.17× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-6.9M | $35.6M |
| Free Cash FlowOCF − Capex | $-7.1M | $34.6M |
| FCF MarginFCF / Revenue | -252.6% | 24.8% |
| Capex IntensityCapex / Revenue | 5.3% | 0.8% |
| Cash ConversionOCF / Net Profit | — | 0.72× |
| TTM Free Cash FlowTrailing 4 quarters | $-20.7M | $27.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.9M | $35.6M | ||
| Q3 25 | $-5.3M | $13.3M | ||
| Q2 25 | $-6.1M | $21.1M | ||
| Q1 25 | $-2.0M | $-19.7M | ||
| Q4 24 | — | $50.2M | ||
| Q3 24 | — | $25.0M | ||
| Q2 24 | — | $45.6M | ||
| Q1 24 | — | $-2.2M |
| Q4 25 | $-7.1M | $34.6M | ||
| Q3 25 | $-5.4M | $-1.1M | ||
| Q2 25 | $-6.1M | $18.7M | ||
| Q1 25 | $-2.1M | $-24.4M | ||
| Q4 24 | — | $47.5M | ||
| Q3 24 | — | $24.0M | ||
| Q2 24 | — | $43.6M | ||
| Q1 24 | — | $-4.6M |
| Q4 25 | -252.6% | 24.8% | ||
| Q3 25 | -188.8% | -0.8% | ||
| Q2 25 | -370.9% | 15.3% | ||
| Q1 25 | -72.0% | -21.2% | ||
| Q4 24 | — | 40.4% | ||
| Q3 24 | — | 20.0% | ||
| Q2 24 | — | 40.7% | ||
| Q1 24 | — | -5.6% |
| Q4 25 | 5.3% | 0.8% | ||
| Q3 25 | 2.6% | 10.7% | ||
| Q2 25 | 0.5% | 2.0% | ||
| Q1 25 | 2.2% | 4.1% | ||
| Q4 24 | — | 2.3% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.9% | ||
| Q1 24 | — | 2.9% |
| Q4 25 | — | 0.72× | ||
| Q3 25 | — | 0.36× | ||
| Q2 25 | — | 0.62× | ||
| Q1 25 | — | -0.73× | ||
| Q4 24 | — | 0.45× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 1.42× | ||
| Q1 24 | — | -0.12× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
