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Side-by-side financial comparison of Alpha Cognition Inc. (ACOG) and Solid Power, Inc. (SLDP). Click either name above to swap in a different company.
Solid Power, Inc. is the larger business by last-quarter revenue ($3.6M vs $2.8M, roughly 1.3× Alpha Cognition Inc.). Alpha Cognition Inc. produced more free cash flow last quarter ($-7.1M vs $-23.0M).
Solid Energy was the largest coal mining company in New Zealand and is a state owned enterprise of the New Zealand Government.
ACOG vs SLDP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.8M | $3.6M |
| Net Profit | $-6.9M | — |
| Gross Margin | — | — |
| Operating Margin | -283.7% | -730.1% |
| Net Margin | -245.5% | — |
| Revenue YoY | — | -18.6% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.10 | $-0.15 |
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 | $3.6M | ||
| Q3 25 | $2.8M | $3.7M | ||
| Q2 25 | $1.7M | $6.5M | ||
| Q1 25 | $2.9M | $6.0M | ||
| Q4 24 | — | $4.5M | ||
| Q3 24 | — | $4.7M | ||
| Q2 24 | — | $5.1M | ||
| Q1 24 | — | $6.0M |
| Q4 25 | $-6.9M | — | ||
| Q3 25 | $-1.3M | $-25.9M | ||
| Q2 25 | $-10.5M | $-25.3M | ||
| Q1 25 | $-2.0M | $-15.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $-22.4M | ||
| Q2 24 | — | $-22.3M | ||
| Q1 24 | — | $-21.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 96.7% | — | ||
| Q1 25 | 99.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -283.7% | -730.1% | ||
| Q3 25 | -187.0% | -654.4% | ||
| Q2 25 | -346.1% | -398.9% | ||
| Q1 25 | -125.9% | -399.4% | ||
| Q4 24 | — | -561.1% | ||
| Q3 24 | — | -593.2% | ||
| Q2 24 | — | -530.8% | ||
| Q1 24 | — | -433.1% |
| Q4 25 | -245.5% | — | ||
| Q3 25 | -46.4% | -693.1% | ||
| Q2 25 | -632.7% | -390.7% | ||
| Q1 25 | -68.5% | -251.8% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -482.0% | ||
| Q2 24 | — | -438.9% | ||
| Q1 24 | — | -356.2% |
| Q4 25 | $-0.10 | $-0.15 | ||
| Q3 25 | $-0.30 | $-0.14 | ||
| Q2 25 | $-0.65 | $-0.14 | ||
| Q1 25 | $-0.13 | $-0.08 | ||
| Q4 24 | — | $-0.16 | ||
| Q3 24 | — | $-0.13 | ||
| Q2 24 | — | $-0.13 | ||
| 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 | $250.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $62.5M | $415.7M |
| Total Assets | $79.7M | $455.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $66.0M | $250.8M | ||
| Q3 25 | $35.4M | $251.2M | ||
| Q2 25 | $39.4M | $230.9M | ||
| Q1 25 | $45.5M | $240.9M | ||
| Q4 24 | — | $118.2M | ||
| Q3 24 | — | $132.0M | ||
| Q2 24 | — | $140.5M | ||
| Q1 24 | — | $146.6M |
| Q4 25 | $62.5M | $415.7M | ||
| Q3 25 | $33.9M | $381.2M | ||
| Q2 25 | $31.9M | $370.6M | ||
| Q1 25 | $40.8M | $397.1M | ||
| Q4 24 | — | $410.3M | ||
| Q3 24 | — | $439.4M | ||
| Q2 24 | — | $456.8M | ||
| Q1 24 | — | $479.4M |
| Q4 25 | $79.7M | $455.1M | ||
| Q3 25 | $46.3M | $416.1M | ||
| Q2 25 | $45.1M | $398.0M | ||
| Q1 25 | $48.6M | $419.4M | ||
| Q4 24 | — | $448.3M | ||
| Q3 24 | — | $470.9M | ||
| Q2 24 | — | $492.6M | ||
| Q1 24 | — | $516.2M |
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 | $-18.4M |
| Free Cash FlowOCF − Capex | $-7.1M | $-23.0M |
| FCF MarginFCF / Revenue | -252.6% | -633.0% |
| Capex IntensityCapex / Revenue | 5.3% | 126.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-20.7M | $-83.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.9M | $-18.4M | ||
| Q3 25 | $-5.3M | $-14.3M | ||
| Q2 25 | $-6.1M | $-14.4M | ||
| Q1 25 | $-2.0M | $-26.3M | ||
| Q4 24 | — | $-13.9M | ||
| Q3 24 | — | $-9.9M | ||
| Q2 24 | — | $-11.1M | ||
| Q1 24 | — | $-29.1M |
| Q4 25 | $-7.1M | $-23.0M | ||
| Q3 25 | $-5.4M | $-14.8M | ||
| Q2 25 | $-6.1M | $-17.1M | ||
| Q1 25 | $-2.1M | $-28.6M | ||
| Q4 24 | — | $-18.6M | ||
| Q3 24 | — | $-12.6M | ||
| Q2 24 | — | $-15.5M | ||
| Q1 24 | — | $-33.1M |
| Q4 25 | -252.6% | -633.0% | ||
| Q3 25 | -188.8% | -397.6% | ||
| Q2 25 | -370.9% | -264.2% | ||
| Q1 25 | -72.0% | -476.1% | ||
| Q4 24 | — | -416.5% | ||
| Q3 24 | — | -271.5% | ||
| Q2 24 | — | -305.8% | ||
| Q1 24 | — | -556.3% |
| Q4 25 | 5.3% | 126.5% | ||
| Q3 25 | 2.6% | 15.3% | ||
| Q2 25 | 0.5% | 41.5% | ||
| Q1 25 | 2.2% | 39.1% | ||
| Q4 24 | — | 105.5% | ||
| Q3 24 | — | 59.7% | ||
| Q2 24 | — | 86.8% | ||
| Q1 24 | — | 68.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
