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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and AGENUS INC (AGEN). Click either name above to swap in a different company.
ADMA BIOLOGICS, INC. is the larger business by last-quarter revenue ($139.2M vs $34.2M, roughly 4.1× AGENUS INC). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs -31.0%, a 66.5% gap on every dollar of revenue. On growth, AGENUS INC posted the faster year-over-year revenue change (27.5% vs 18.4%). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs 10.5%).
ADMA Biologics Inc. is a biopharmaceutical enterprise focused on the research, development, manufacturing and commercialization of specialty plasma-derived immunoglobulin therapies. It primarily operates in the United States, catering to patients with primary immunodeficiency and other immune-related disorders, healthcare providers and medical institutions across its core immune health therapeutic segment.
Agenus Inc. is a Lexington, Massachusetts-based biotechnology company focused on immunotherapy including immuno-oncology, a field that uses the immune system to control or cure cancer. The company is developing checkpoint modulators (CPMs), patient-specific anti-cancer vaccines, and adjuvants designed for use with various vaccines. CPM development is a particularly fast-moving field, since early products have produced unprecedented clinical benefits for patients.
ADMA vs AGEN — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $34.2M |
| Net Profit | $49.4M | $-10.6M |
| Gross Margin | 63.8% | — |
| Operating Margin | 45.1% | 42.1% |
| Net Margin | 35.5% | -31.0% |
| Revenue YoY | 18.4% | 27.5% |
| Net Profit YoY | -55.9% | 77.3% |
| EPS (diluted) | $0.20 | $0.09 |
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 | $139.2M | $34.2M | ||
| Q3 25 | $134.2M | $30.2M | ||
| Q2 25 | $122.0M | $25.7M | ||
| Q1 25 | $114.8M | $24.1M | ||
| Q4 24 | $117.5M | $26.8M | ||
| Q3 24 | $119.8M | $25.1M | ||
| Q2 24 | $107.2M | $23.5M | ||
| Q1 24 | $81.9M | $28.0M |
| Q4 25 | $49.4M | $-10.6M | ||
| Q3 25 | $36.4M | $63.9M | ||
| Q2 25 | $34.2M | $-30.0M | ||
| Q1 25 | $26.9M | $-26.4M | ||
| Q4 24 | $111.9M | $-46.8M | ||
| Q3 24 | $35.9M | $-67.2M | ||
| Q2 24 | $32.1M | $-54.8M | ||
| Q1 24 | $17.8M | $-63.5M |
| Q4 25 | 63.8% | — | ||
| Q3 25 | 56.3% | 97.9% | ||
| Q2 25 | 55.1% | 99.1% | ||
| Q1 25 | 53.2% | 99.4% | ||
| Q4 24 | 53.9% | 99.6% | ||
| Q3 24 | 49.8% | 99.4% | ||
| Q2 24 | 53.6% | 99.5% | ||
| Q1 24 | 47.8% | 99.6% |
| Q4 25 | 45.1% | 42.1% | ||
| Q3 25 | 38.0% | -15.0% | ||
| Q2 25 | 35.1% | -65.0% | ||
| Q1 25 | 30.4% | -55.3% | ||
| Q4 24 | 32.6% | -96.5% | ||
| Q3 24 | 33.1% | -125.5% | ||
| Q2 24 | 36.6% | -128.4% | ||
| Q1 24 | 26.7% | -117.4% |
| Q4 25 | 35.5% | -31.0% | ||
| Q3 25 | 27.1% | 211.4% | ||
| Q2 25 | 28.1% | -116.8% | ||
| Q1 25 | 23.4% | -109.6% | ||
| Q4 24 | 95.2% | -174.4% | ||
| Q3 24 | 30.0% | -267.7% | ||
| Q2 24 | 29.9% | -233.1% | ||
| Q1 24 | 21.7% | -226.6% |
| Q4 25 | $0.20 | $0.09 | ||
| Q3 25 | $0.15 | $1.94 | ||
| Q2 25 | $0.14 | $-1.00 | ||
| Q1 25 | $0.11 | $-1.03 | ||
| Q4 24 | $0.45 | $-1.95 | ||
| Q3 24 | $0.15 | $-3.08 | ||
| Q2 24 | $0.13 | $-2.52 | ||
| Q1 24 | $0.08 | $-3.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $87.6M | $3.0M |
| Total DebtLower is stronger | $72.1M | $44.7M |
| Stockholders' EquityBook value | $477.3M | $-271.1M |
| Total Assets | $624.2M | $226.8M |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.6M | $3.0M | ||
| Q3 25 | $61.4M | $3.5M | ||
| Q2 25 | $90.3M | $9.5M | ||
| Q1 25 | $71.6M | $18.5M | ||
| Q4 24 | $103.1M | $40.4M | ||
| Q3 24 | $86.7M | $44.8M | ||
| Q2 24 | $88.2M | $93.7M | ||
| Q1 24 | $45.3M | $52.9M |
| Q4 25 | $72.1M | $44.7M | ||
| Q3 25 | $72.4M | $34.2M | ||
| Q2 25 | — | $33.9M | ||
| Q1 25 | — | $33.6M | ||
| Q4 24 | $72.3M | $33.2M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $477.3M | $-271.1M | ||
| Q3 25 | $431.2M | $-274.1M | ||
| Q2 25 | $398.3M | $-354.6M | ||
| Q1 25 | $373.4M | $-341.8M | ||
| Q4 24 | $349.0M | $-326.4M | ||
| Q3 24 | $231.9M | $-292.3M | ||
| Q2 24 | $188.3M | $-241.3M | ||
| Q1 24 | $153.7M | $-201.4M |
| Q4 25 | $624.2M | $226.8M | ||
| Q3 25 | $568.7M | $233.9M | ||
| Q2 25 | $558.4M | $185.2M | ||
| Q1 25 | $510.6M | $200.2M | ||
| Q4 24 | $488.7M | $226.3M | ||
| Q3 24 | $390.6M | $238.5M | ||
| Q2 24 | $376.4M | $292.4M | ||
| Q1 24 | $350.9M | $256.6M |
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $35.6M | $-16.6M |
| Free Cash FlowOCF − Capex | $34.6M | — |
| FCF MarginFCF / Revenue | 24.8% | — |
| Capex IntensityCapex / Revenue | 0.8% | 0.0% |
| Cash ConversionOCF / Net Profit | 0.72× | — |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $35.6M | $-16.6M | ||
| Q3 25 | $13.3M | $-14.7M | ||
| Q2 25 | $21.1M | $-20.2M | ||
| Q1 25 | $-19.7M | $-25.6M | ||
| Q4 24 | $50.2M | $-28.7M | ||
| Q3 24 | $25.0M | $-53.3M | ||
| Q2 24 | $45.6M | $-38.2M | ||
| Q1 24 | $-2.2M | $-38.2M |
| Q4 25 | $34.6M | — | ||
| Q3 25 | $-1.1M | — | ||
| Q2 25 | $18.7M | $-20.2M | ||
| Q1 25 | $-24.4M | $-25.6M | ||
| Q4 24 | $47.5M | $-28.7M | ||
| Q3 24 | $24.0M | $-53.3M | ||
| Q2 24 | $43.6M | $-38.6M | ||
| Q1 24 | $-4.6M | $-38.2M |
| Q4 25 | 24.8% | — | ||
| Q3 25 | -0.8% | — | ||
| Q2 25 | 15.3% | -78.7% | ||
| Q1 25 | -21.2% | -106.5% | ||
| Q4 24 | 40.4% | -107.0% | ||
| Q3 24 | 20.0% | -212.2% | ||
| Q2 24 | 40.7% | -164.4% | ||
| Q1 24 | -5.6% | -136.5% |
| Q4 25 | 0.8% | 0.0% | ||
| Q3 25 | 10.7% | 0.0% | ||
| Q2 25 | 2.0% | 0.0% | ||
| Q1 25 | 4.1% | 0.0% | ||
| Q4 24 | 2.3% | 0.3% | ||
| Q3 24 | 0.9% | 0.0% | ||
| Q2 24 | 1.9% | 2.0% | ||
| Q1 24 | 2.9% | 0.1% |
| Q4 25 | 0.72× | — | ||
| Q3 25 | 0.36× | -0.23× | ||
| Q2 25 | 0.62× | — | ||
| Q1 25 | -0.73× | — | ||
| Q4 24 | 0.45× | — | ||
| Q3 24 | 0.70× | — | ||
| Q2 24 | 1.42× | — | ||
| Q1 24 | -0.12× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
