vs
Side-by-side financial comparison of Alpha Cognition Inc. (ACOG) and HALOZYME THERAPEUTICS, INC. (HALO). Click either name above to swap in a different company.
HALOZYME THERAPEUTICS, INC. is the larger business by last-quarter revenue ($451.8M vs $2.8M, roughly 161.7× Alpha Cognition Inc.). HALOZYME THERAPEUTICS, INC. runs the higher net margin — -31.3% vs -245.5%, a 214.1% gap on every dollar of revenue. HALOZYME THERAPEUTICS, INC. produced more free cash flow last quarter ($217.6M vs $-7.1M).
Halozyme Therapeutics, Inc. is an American biotechnology company. It develops oncology therapies designed to target the tumor microenvironment.
ACOG vs HALO — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $2.8M | $451.8M |
| Net Profit | $-6.9M | $-141.6M |
| Gross Margin | — | 82.6% |
| Operating Margin | -283.7% | -20.6% |
| Net Margin | -245.5% | -31.3% |
| Revenue YoY | — | 51.6% |
| Net Profit YoY | — | -203.3% |
| EPS (diluted) | $-0.10 | $-1.13 |
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 | $451.8M | ||
| Q3 25 | $2.8M | $354.3M | ||
| Q2 25 | $1.7M | $325.7M | ||
| Q1 25 | $2.9M | $264.9M | ||
| Q4 24 | — | $298.0M | ||
| Q3 24 | — | $290.1M | ||
| Q2 24 | — | $231.4M | ||
| Q1 24 | — | $195.9M |
| Q4 25 | $-6.9M | $-141.6M | ||
| Q3 25 | $-1.3M | $175.2M | ||
| Q2 25 | $-10.5M | $165.2M | ||
| Q1 25 | $-2.0M | $118.1M | ||
| Q4 24 | — | $137.0M | ||
| Q3 24 | — | $137.0M | ||
| Q2 24 | — | $93.2M | ||
| Q1 24 | — | $76.8M |
| Q4 25 | — | 82.6% | ||
| Q3 25 | — | 84.4% | ||
| Q2 25 | 96.7% | 85.8% | ||
| Q1 25 | 99.6% | 81.7% | ||
| Q4 24 | — | 85.9% | ||
| Q3 24 | — | 83.0% | ||
| Q2 24 | — | 82.9% | ||
| Q1 24 | — | 85.5% |
| Q4 25 | -283.7% | -20.6% | ||
| Q3 25 | -187.0% | 61.5% | ||
| Q2 25 | -346.1% | 62.2% | ||
| Q1 25 | -125.9% | 53.4% | ||
| Q4 24 | — | 58.9% | ||
| Q3 24 | — | 56.3% | ||
| Q2 24 | — | 50.7% | ||
| Q1 24 | — | 48.8% |
| Q4 25 | -245.5% | -31.3% | ||
| Q3 25 | -46.4% | 49.5% | ||
| Q2 25 | -632.7% | 50.7% | ||
| Q1 25 | -68.5% | 44.6% | ||
| Q4 24 | — | 46.0% | ||
| Q3 24 | — | 47.2% | ||
| Q2 24 | — | 40.3% | ||
| Q1 24 | — | 39.2% |
| Q4 25 | $-0.10 | $-1.13 | ||
| Q3 25 | $-0.30 | $1.43 | ||
| Q2 25 | $-0.65 | $1.33 | ||
| Q1 25 | $-0.13 | $0.93 | ||
| Q4 24 | — | $1.06 | ||
| Q3 24 | — | $1.05 | ||
| Q2 24 | — | $0.72 | ||
| Q1 24 | — | $0.60 |
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 | $133.8M |
| Total DebtLower is stronger | — | $2.1B |
| Stockholders' EquityBook value | $62.5M | $48.8M |
| Total Assets | $79.7M | $2.5B |
| Debt / EquityLower = less leverage | — | 43.89× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.0M | $133.8M | ||
| Q3 25 | $35.4M | $419.7M | ||
| Q2 25 | $39.4M | $61.9M | ||
| Q1 25 | $45.5M | $176.3M | ||
| Q4 24 | — | $115.8M | ||
| Q3 24 | — | $154.3M | ||
| Q2 24 | — | $187.9M | ||
| Q1 24 | — | $164.6M |
| Q4 25 | — | $2.1B | ||
| Q3 25 | — | $1.5B | ||
| Q2 25 | — | $1.5B | ||
| Q1 25 | — | $1.5B | ||
| Q4 24 | — | $1.5B | ||
| Q3 24 | — | $1.5B | ||
| Q2 24 | — | $1.5B | ||
| Q1 24 | — | $1.5B |
| Q4 25 | $62.5M | $48.8M | ||
| Q3 25 | $33.9M | $503.9M | ||
| Q2 25 | $31.9M | $332.7M | ||
| Q1 25 | $40.8M | $482.3M | ||
| Q4 24 | — | $363.8M | ||
| Q3 24 | — | $452.7M | ||
| Q2 24 | — | $289.4M | ||
| Q1 24 | — | $177.8M |
| Q4 25 | $79.7M | $2.5B | ||
| Q3 25 | $46.3M | $2.2B | ||
| Q2 25 | $45.1M | $2.1B | ||
| Q1 25 | $48.6M | $2.2B | ||
| Q4 24 | — | $2.1B | ||
| Q3 24 | — | $2.1B | ||
| Q2 24 | — | $2.0B | ||
| Q1 24 | — | $1.8B |
| Q4 25 | — | 43.89× | ||
| Q3 25 | — | 3.00× | ||
| Q2 25 | — | 4.54× | ||
| Q1 25 | — | 3.13× | ||
| Q4 24 | — | 4.14× | ||
| Q3 24 | — | 3.32× | ||
| Q2 24 | — | 5.19× | ||
| Q1 24 | — | 8.44× |
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 | $219.0M |
| Free Cash FlowOCF − Capex | $-7.1M | $217.6M |
| FCF MarginFCF / Revenue | -252.6% | 48.2% |
| Capex IntensityCapex / Revenue | 5.3% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-20.7M | $644.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.9M | $219.0M | ||
| Q3 25 | $-5.3M | $178.6M | ||
| Q2 25 | $-6.1M | $99.7M | ||
| Q1 25 | $-2.0M | $154.2M | ||
| Q4 24 | — | $178.5M | ||
| Q3 24 | — | $115.4M | ||
| Q2 24 | — | $55.8M | ||
| Q1 24 | — | $129.4M |
| Q4 25 | $-7.1M | $217.6M | ||
| Q3 25 | $-5.4M | $175.6M | ||
| Q2 25 | $-6.1M | $98.1M | ||
| Q1 25 | $-2.1M | $153.3M | ||
| Q4 24 | — | $175.4M | ||
| Q3 24 | — | $113.9M | ||
| Q2 24 | — | $53.2M | ||
| Q1 24 | — | $125.9M |
| Q4 25 | -252.6% | 48.2% | ||
| Q3 25 | -188.8% | 49.6% | ||
| Q2 25 | -370.9% | 30.1% | ||
| Q1 25 | -72.0% | 57.9% | ||
| Q4 24 | — | 58.9% | ||
| Q3 24 | — | 39.3% | ||
| Q2 24 | — | 23.0% | ||
| Q1 24 | — | 64.3% |
| Q4 25 | 5.3% | 0.3% | ||
| Q3 25 | 2.6% | 0.9% | ||
| Q2 25 | 0.5% | 0.5% | ||
| Q1 25 | 2.2% | 0.4% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 0.5% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 1.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.02× | ||
| Q2 25 | — | 0.60× | ||
| Q1 25 | — | 1.31× | ||
| Q4 24 | — | 1.30× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.60× | ||
| Q1 24 | — | 1.68× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ACOG
Segment breakdown not available.
HALO
| Royalty | $258.0M | 57% |
| Products | $122.7M | 27% |
| Proprietary Products Sales | $59.6M | 13% |
| Device Partnered Products | $12.9M | 3% |
