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Side-by-side financial comparison of Alpha Cognition Inc. (ACOG) and ARGENX SE (ARGX). Click either name above to swap in a different company.
ARGENX SE is the larger business by last-quarter revenue ($2.5B vs $2.8M, roughly 885.6× Alpha Cognition Inc.). ARGENX SE runs the higher net margin — 35.5% vs -245.5%, a 280.9% gap on every dollar of revenue. ARGENX SE produced more free cash flow last quarter ($322.4M vs $-7.1M).
AbbVie Inc. is an American pharmaceutical company headquartered in North Chicago, Illinois. They have produced drugs to treat a wide range of medical issues.
ACOG vs ARGX — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.8M | $2.5B |
| Net Profit | $-6.9M | $877.2M |
| Gross Margin | — | 89.5% |
| Operating Margin | -283.7% | 28.9% |
| Net Margin | -245.5% | 35.5% |
| Revenue YoY | — | 83.2% |
| Net Profit YoY | — | 1.3% |
| EPS (diluted) | $-0.10 | $13.25 |
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 | $2.5B | ||
| Q3 25 | $2.8M | — | ||
| Q2 25 | $1.7M | $1.8B | ||
| Q1 25 | $2.9M | — | ||
| Q4 24 | — | $1.4B | ||
| Q2 24 | — | $901.9M | ||
| Q2 23 | — | $510.9M | ||
| Q2 22 | — | $116.7M |
| Q4 25 | $-6.9M | $877.2M | ||
| Q3 25 | $-1.3M | — | ||
| Q2 25 | $-10.5M | $414.8M | ||
| Q1 25 | $-2.0M | — | ||
| Q4 24 | — | $865.6M | ||
| Q2 24 | — | $-32.5M | ||
| Q2 23 | — | $-123.2M | ||
| Q2 22 | — | $-435.9M |
| Q4 25 | — | 89.5% | ||
| Q3 25 | — | — | ||
| Q2 25 | 96.7% | 89.2% | ||
| Q1 25 | 99.6% | — | ||
| Q4 24 | — | 90.2% | ||
| Q2 24 | — | 89.4% | ||
| Q2 23 | — | 91.7% | ||
| Q2 22 | — | 94.5% |
| Q4 25 | -283.7% | 28.9% | ||
| Q3 25 | -187.0% | — | ||
| Q2 25 | -346.1% | 19.2% | ||
| Q1 25 | -125.9% | — | ||
| Q4 24 | — | 8.7% | ||
| Q2 24 | — | -15.4% | ||
| Q2 23 | — | -40.3% | ||
| Q2 22 | — | -340.5% |
| Q4 25 | -245.5% | 35.5% | ||
| Q3 25 | -46.4% | — | ||
| Q2 25 | -632.7% | 23.4% | ||
| Q1 25 | -68.5% | — | ||
| Q4 24 | — | 64.1% | ||
| Q2 24 | — | -3.6% | ||
| Q2 23 | — | -24.1% | ||
| Q2 22 | — | -373.7% |
| Q4 25 | $-0.10 | $13.25 | ||
| Q3 25 | $-0.30 | — | ||
| Q2 25 | $-0.65 | $6.32 | ||
| Q1 25 | $-0.13 | — | ||
| Q4 24 | — | $13.33 | ||
| Q2 24 | — | $-0.55 | ||
| Q2 23 | — | $-2.21 | ||
| Q2 22 | — | $-8.16 |
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 | $3.5B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $62.5M | $7.3B |
| Total Assets | $79.7M | $8.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.0M | $3.5B | ||
| Q3 25 | $35.4M | — | ||
| Q2 25 | $39.4M | $2.1B | ||
| Q1 25 | $45.5M | — | ||
| Q4 24 | — | $1.5B | ||
| Q2 24 | — | $1.4B | ||
| Q2 23 | — | $1.1B | ||
| Q2 22 | — | $1.4B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q2 24 | — | $11.0M | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
| Q4 25 | $62.5M | $7.3B | ||
| Q3 25 | $33.9M | — | ||
| Q2 25 | $31.9M | $6.1B | ||
| Q1 25 | $40.8M | — | ||
| Q4 24 | — | $5.5B | ||
| Q2 24 | — | $4.3B | ||
| Q2 23 | — | $2.9B | ||
| Q2 22 | — | $3.0B |
| Q4 25 | $79.7M | $8.7B | ||
| Q3 25 | $46.3M | — | ||
| Q2 25 | $45.1M | $7.2B | ||
| Q1 25 | $48.6M | — | ||
| Q4 24 | — | $6.2B | ||
| Q2 24 | — | $4.8B | ||
| Q2 23 | — | $3.2B | ||
| Q2 22 | — | $3.2B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q2 24 | — | 0.00× | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
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 | $323.3M |
| Free Cash FlowOCF − Capex | $-7.1M | $322.4M |
| FCF MarginFCF / Revenue | -252.6% | 13.0% |
| Capex IntensityCapex / Revenue | 5.3% | 0.0% |
| Cash ConversionOCF / Net Profit | — | 0.37× |
| TTM Free Cash FlowTrailing 4 quarters | $-20.7M | $594.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.9M | $323.3M | ||
| Q3 25 | $-5.3M | — | ||
| Q2 25 | $-6.1M | $361.8M | ||
| Q1 25 | $-2.0M | — | ||
| Q4 24 | — | $41.9M | ||
| Q2 24 | — | $-124.7M | ||
| Q2 23 | — | $-285.4M | ||
| Q2 22 | — | $-494.5M |
| Q4 25 | $-7.1M | $322.4M | ||
| Q3 25 | $-5.4M | — | ||
| Q2 25 | $-6.1M | $356.6M | ||
| Q1 25 | $-2.1M | — | ||
| Q4 24 | — | $40.9M | ||
| Q2 24 | — | $-125.5M | ||
| Q2 23 | — | $-285.9M | ||
| Q2 22 | — | $-494.7M |
| Q4 25 | -252.6% | 13.0% | ||
| Q3 25 | -188.8% | — | ||
| Q2 25 | -370.9% | 20.1% | ||
| Q1 25 | -72.0% | — | ||
| Q4 24 | — | 3.0% | ||
| Q2 24 | — | -13.9% | ||
| Q2 23 | — | -56.0% | ||
| Q2 22 | — | -424.0% |
| Q4 25 | 5.3% | 0.0% | ||
| Q3 25 | 2.6% | — | ||
| Q2 25 | 0.5% | 0.3% | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | — | 0.1% | ||
| Q2 24 | — | 0.1% | ||
| Q2 23 | — | 0.1% | ||
| Q2 22 | — | 0.2% |
| Q4 25 | — | 0.37× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.87× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.05× | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
