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Side-by-side financial comparison of Alpha Cognition Inc. (ACOG) and EXELIXIS, INC. (EXEL). Click either name above to swap in a different company.
EXELIXIS, INC. is the larger business by last-quarter revenue ($598.7M vs $2.8M, roughly 214.3× Alpha Cognition Inc.). EXELIXIS, INC. runs the higher net margin — 40.8% vs -245.5%, a 286.3% gap on every dollar of revenue. EXELIXIS, INC. produced more free cash flow last quarter ($332.4M vs $-7.1M).
Exelixis, Inc. is a genomics-based drug discovery company located in Alameda, California, and the producer of Cometriq, a treatment approved by the U.S. Food and Drug Administration (FDA) for medullary thyroid cancer with clinical activity in several other types of metastatic cancer.
ACOG vs EXEL — Head-to-Head
Income Statement — Q4 2025 vs Q4 2026
| Metric | | |
|---|---|---|
| Revenue | $2.8M | $598.7M |
| Net Profit | $-6.9M | $244.5M |
| Gross Margin | — | 95.6% |
| Operating Margin | -283.7% | 39.3% |
| Net Margin | -245.5% | 40.8% |
| Revenue YoY | — | 5.6% |
| Net Profit YoY | — | 74.8% |
| EPS (diluted) | $-0.10 | $0.89 |
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.
| Q1 26 | — | $598.7M | ||
| Q4 25 | $2.8M | $597.8M | ||
| Q3 25 | $2.8M | $568.3M | ||
| Q2 25 | $1.7M | $555.4M | ||
| Q1 25 | $2.9M | $566.8M | ||
| Q3 24 | — | $539.5M | ||
| Q2 24 | — | $637.2M | ||
| Q1 24 | — | $425.2M |
| Q1 26 | — | $244.5M | ||
| Q4 25 | $-6.9M | $193.6M | ||
| Q3 25 | $-1.3M | $184.8M | ||
| Q2 25 | $-10.5M | $159.6M | ||
| Q1 25 | $-2.0M | $139.9M | ||
| Q3 24 | — | $118.0M | ||
| Q2 24 | — | $226.1M | ||
| Q1 24 | — | $37.3M |
| Q1 26 | — | 95.6% | ||
| Q4 25 | — | 96.9% | ||
| Q3 25 | — | 96.6% | ||
| Q2 25 | 96.7% | 96.5% | ||
| Q1 25 | 99.6% | 96.5% | ||
| Q3 24 | — | 96.8% | ||
| Q2 24 | — | 97.2% | ||
| Q1 24 | — | 95.0% |
| Q1 26 | — | 39.3% | ||
| Q4 25 | -283.7% | 39.6% | ||
| Q3 25 | -187.0% | 37.6% | ||
| Q2 25 | -346.1% | 33.6% | ||
| Q1 25 | -125.9% | 28.8% | ||
| Q3 24 | — | 25.2% | ||
| Q2 24 | — | 43.3% | ||
| Q1 24 | — | 6.9% |
| Q1 26 | — | 40.8% | ||
| Q4 25 | -245.5% | 32.4% | ||
| Q3 25 | -46.4% | 32.5% | ||
| Q2 25 | -632.7% | 28.7% | ||
| Q1 25 | -68.5% | 24.7% | ||
| Q3 24 | — | 21.9% | ||
| Q2 24 | — | 35.5% | ||
| Q1 24 | — | 8.8% |
| Q1 26 | — | $0.89 | ||
| Q4 25 | $-0.10 | $0.69 | ||
| Q3 25 | $-0.30 | $0.65 | ||
| Q2 25 | $-0.65 | $0.55 | ||
| Q1 25 | $-0.13 | $0.47 | ||
| Q3 24 | — | $0.40 | ||
| Q2 24 | — | $0.77 | ||
| Q1 24 | — | $0.12 |
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 | $1.1B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $62.5M | $2.2B |
| Total Assets | $79.7M | $2.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $1.1B | ||
| Q4 25 | $66.0M | $988.5M | ||
| Q3 25 | $35.4M | $791.1M | ||
| Q2 25 | $39.4M | $1.0B | ||
| Q1 25 | $45.5M | $1.1B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.0B | ||
| Q1 24 | — | $963.3M |
| Q1 26 | — | $2.2B | ||
| Q4 25 | $62.5M | $2.2B | ||
| Q3 25 | $33.9M | $2.0B | ||
| Q2 25 | $31.9M | $2.1B | ||
| Q1 25 | $40.8M | $2.2B | ||
| Q3 24 | — | $2.3B | ||
| Q2 24 | — | $2.1B | ||
| Q1 24 | — | $2.1B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $79.7M | $2.8B | ||
| Q3 25 | $46.3M | $2.7B | ||
| Q2 25 | $45.1M | $2.8B | ||
| Q1 25 | $48.6M | $2.9B | ||
| Q3 24 | — | $3.0B | ||
| Q2 24 | — | $2.8B | ||
| Q1 24 | — | $2.8B |
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 | $333.5M |
| Free Cash FlowOCF − Capex | $-7.1M | $332.4M |
| FCF MarginFCF / Revenue | -252.6% | 55.5% |
| Capex IntensityCapex / Revenue | 5.3% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 1.36× |
| TTM Free Cash FlowTrailing 4 quarters | $-20.7M | $875.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $333.5M | ||
| Q4 25 | $-6.9M | $290.3M | ||
| Q3 25 | $-5.3M | $49.0M | ||
| Q2 25 | $-6.1M | $211.4M | ||
| Q1 25 | $-2.0M | $240.3M | ||
| Q3 24 | — | $271.3M | ||
| Q2 24 | — | $119.5M | ||
| Q1 24 | — | $68.8M |
| Q1 26 | — | $332.4M | ||
| Q4 25 | $-7.1M | $288.8M | ||
| Q3 25 | $-5.4M | $46.2M | ||
| Q2 25 | $-6.1M | $208.5M | ||
| Q1 25 | $-2.1M | $236.3M | ||
| Q3 24 | — | $263.1M | ||
| Q2 24 | — | $113.0M | ||
| Q1 24 | — | $59.1M |
| Q1 26 | — | 55.5% | ||
| Q4 25 | -252.6% | 48.3% | ||
| Q3 25 | -188.8% | 8.1% | ||
| Q2 25 | -370.9% | 37.5% | ||
| Q1 25 | -72.0% | 41.7% | ||
| Q3 24 | — | 48.8% | ||
| Q2 24 | — | 17.7% | ||
| Q1 24 | — | 13.9% |
| Q1 26 | — | 0.2% | ||
| Q4 25 | 5.3% | 0.2% | ||
| Q3 25 | 2.6% | 0.5% | ||
| Q2 25 | 0.5% | 0.5% | ||
| Q1 25 | 2.2% | 0.7% | ||
| Q3 24 | — | 1.5% | ||
| Q2 24 | — | 1.0% | ||
| Q1 24 | — | 2.3% |
| Q1 26 | — | 1.36× | ||
| Q4 25 | — | 1.50× | ||
| Q3 25 | — | 0.27× | ||
| Q2 25 | — | 1.32× | ||
| Q1 25 | — | 1.72× | ||
| Q3 24 | — | 2.30× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 1.84× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
