vs
Side-by-side financial comparison of Alpha Cognition Inc. (ACOG) and CG Oncology, Inc. (CGON). Click either name above to swap in a different company.
Alpha Cognition Inc. is the larger business by last-quarter revenue ($2.8M vs $2.3M, roughly 1.2× CG Oncology, Inc.). Alpha Cognition Inc. runs the higher net margin — -245.5% vs -1779.0%, a 1533.6% gap on every dollar of revenue. Alpha Cognition Inc. produced more free cash flow last quarter ($-7.1M vs $-36.2M).
CG Oncology, Inc. is a clinical-stage biotechnology company focused on developing innovative targeted immunotherapies for urological cancers including non-muscle invasive bladder cancer. It primarily operates in the U.S. market, advancing pipeline candidates to address unmet medical needs for patients with limited treatment options.
ACOG vs CGON — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8M | $2.3M |
| Net Profit | $-6.9M | $-41.3M |
| Gross Margin | — | — |
| Operating Margin | -283.7% | -2097.3% |
| Net Margin | -245.5% | -1779.0% |
| Revenue YoY | — | 409.2% |
| Net Profit YoY | — | -29.9% |
| EPS (diluted) | $-0.10 | $-0.52 |
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 | $2.3M | ||
| Q3 25 | $2.8M | $1.7M | ||
| Q2 25 | $1.7M | $0 | ||
| Q1 25 | $2.9M | — | ||
| Q4 24 | — | $456.0K | ||
| Q1 24 | — | $529.0K |
| Q4 25 | $-6.9M | $-41.3M | ||
| Q3 25 | $-1.3M | $-43.8M | ||
| Q2 25 | $-10.5M | $-41.4M | ||
| Q1 25 | $-2.0M | — | ||
| Q4 24 | — | $-31.8M | ||
| Q1 24 | — | $-16.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 96.7% | — | ||
| Q1 25 | 99.6% | — | ||
| Q4 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -283.7% | -2097.3% | ||
| Q3 25 | -187.0% | -3069.0% | ||
| Q2 25 | -346.1% | — | ||
| Q1 25 | -125.9% | — | ||
| Q4 24 | — | -8344.1% | ||
| Q1 24 | — | -4247.4% |
| Q4 25 | -245.5% | -1779.0% | ||
| Q3 25 | -46.4% | -2629.5% | ||
| Q2 25 | -632.7% | — | ||
| Q1 25 | -68.5% | — | ||
| Q4 24 | — | -6973.7% | ||
| Q1 24 | — | -3200.8% |
| Q4 25 | $-0.10 | $-0.52 | ||
| Q3 25 | $-0.30 | $-0.57 | ||
| Q2 25 | $-0.65 | $-0.54 | ||
| Q1 25 | $-0.13 | — | ||
| Q4 24 | — | $-0.47 | ||
| Q1 24 | — | $-0.36 |
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 | $742.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $62.5M | $752.6M |
| Total Assets | $79.7M | $791.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.0M | $742.2M | ||
| Q3 25 | $35.4M | $680.3M | ||
| Q2 25 | $39.4M | $661.1M | ||
| Q1 25 | $45.5M | — | ||
| Q4 24 | — | $742.0M | ||
| Q1 24 | — | $566.5M |
| Q4 25 | $62.5M | $752.6M | ||
| Q3 25 | $33.9M | $687.6M | ||
| Q2 25 | $31.9M | $670.4M | ||
| Q1 25 | $40.8M | — | ||
| Q4 24 | — | $733.4M | ||
| Q1 24 | — | $568.9M |
| Q4 25 | $79.7M | $791.6M | ||
| Q3 25 | $46.3M | $729.9M | ||
| Q2 25 | $45.1M | $701.4M | ||
| Q1 25 | $48.6M | — | ||
| Q4 24 | — | $754.8M | ||
| Q1 24 | — | $579.1M |
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 | $-36.2M |
| Free Cash FlowOCF − Capex | $-7.1M | $-36.2M |
| FCF MarginFCF / Revenue | -252.6% | -1560.0% |
| Capex IntensityCapex / Revenue | 5.3% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-20.7M | $-124.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.9M | $-36.2M | ||
| Q3 25 | $-5.3M | $-38.9M | ||
| Q2 25 | $-6.1M | $-28.0M | ||
| Q1 25 | $-2.0M | — | ||
| Q4 24 | — | $-20.7M | ||
| Q1 24 | — | $-26.0M |
| Q4 25 | $-7.1M | $-36.2M | ||
| Q3 25 | $-5.4M | $-39.0M | ||
| Q2 25 | $-6.1M | $-28.0M | ||
| Q1 25 | $-2.1M | — | ||
| Q4 24 | — | $-20.9M | ||
| Q1 24 | — | $-26.0M |
| Q4 25 | -252.6% | -1560.0% | ||
| Q3 25 | -188.8% | -2340.4% | ||
| Q2 25 | -370.9% | — | ||
| Q1 25 | -72.0% | — | ||
| Q4 24 | — | -4577.0% | ||
| Q1 24 | — | -4919.5% |
| Q4 25 | 5.3% | 0.3% | ||
| Q3 25 | 2.6% | 5.8% | ||
| Q2 25 | 0.5% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | — | 45.8% | ||
| Q1 24 | — | 2.3% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
