vs
Side-by-side financial comparison of Adaptive Biotechnologies Corp (ADPT) and AerSale Corp (ASLE). Click either name above to swap in a different company.
AerSale Corp is the larger business by last-quarter revenue ($90.9M vs $71.7M, roughly 1.3× Adaptive Biotechnologies Corp). AerSale Corp runs the higher net margin — 5.9% vs -18.9%, a 24.9% gap on every dollar of revenue. On growth, Adaptive Biotechnologies Corp posted the faster year-over-year revenue change (51.0% vs -4.0%). AerSale Corp produced more free cash flow last quarter ($9.8M vs $1.4M). Over the past eight quarters, Adaptive Biotechnologies Corp's revenue compounded faster (30.8% CAGR vs 0.2%).
ExpreS2ion Biotechnologies is a Danish biotechnology company specialised in the development of new vaccines and immunotherapy products based in Hørsholm, Denmark and listed on the Nasdaq First North Growth Market Sweden.
AerSale, Inc. is a Doral, Florida-based global supplier of aftermarket commercial jet aircraft, engines, used materials, and aeronautical engineering services to passenger and cargo airlines, government, multinational original equipment manufacturers, and independent MROs. AerSale is a member of the Aircraft Fleet Recycling Association.
ADPT vs ASLE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $71.7M | $90.9M |
| Net Profit | $-13.6M | $5.4M |
| Gross Margin | 74.6% | 34.1% |
| Operating Margin | -17.8% | 7.8% |
| Net Margin | -18.9% | 5.9% |
| Revenue YoY | 51.0% | -4.0% |
| Net Profit YoY | 59.7% | 99.7% |
| EPS (diluted) | $-0.08 | $0.10 |
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 | $71.7M | $90.9M | ||
| Q3 25 | $94.0M | $71.2M | ||
| Q2 25 | $58.9M | $107.4M | ||
| Q1 25 | $52.4M | $65.8M | ||
| Q4 24 | $47.5M | $94.7M | ||
| Q3 24 | $46.4M | $82.7M | ||
| Q2 24 | $43.2M | $77.1M | ||
| Q1 24 | $41.9M | $90.5M |
| Q4 25 | $-13.6M | $5.4M | ||
| Q3 25 | $9.5M | $-120.0K | ||
| Q2 25 | $-25.6M | $8.6M | ||
| Q1 25 | $-29.9M | $-5.3M | ||
| Q4 24 | $-33.7M | $2.7M | ||
| Q3 24 | $-32.1M | $509.0K | ||
| Q2 24 | $-46.2M | $-3.6M | ||
| Q1 24 | $-47.5M | $6.3M |
| Q4 25 | 74.6% | 34.1% | ||
| Q3 25 | 80.7% | 30.2% | ||
| Q2 25 | 69.4% | 32.9% | ||
| Q1 25 | 67.6% | 27.3% | ||
| Q4 24 | 62.0% | 31.4% | ||
| Q3 24 | 64.1% | 28.6% | ||
| Q2 24 | 55.3% | 28.2% | ||
| Q1 24 | 56.9% | 31.8% |
| Q4 25 | -17.8% | 7.8% | ||
| Q3 25 | 10.9% | 4.0% | ||
| Q2 25 | -42.5% | 11.7% | ||
| Q1 25 | -56.4% | -10.1% | ||
| Q4 24 | -71.3% | 5.2% | ||
| Q3 24 | -70.3% | 2.4% | ||
| Q2 24 | -109.6% | -2.4% | ||
| Q1 24 | -116.5% | 5.2% |
| Q4 25 | -18.9% | 5.9% | ||
| Q3 25 | 10.2% | -0.2% | ||
| Q2 25 | -43.5% | 8.0% | ||
| Q1 25 | -56.9% | -8.0% | ||
| Q4 24 | -71.0% | 2.9% | ||
| Q3 24 | -69.1% | 0.6% | ||
| Q2 24 | -107.0% | -4.7% | ||
| Q1 24 | -113.5% | 6.9% |
| Q4 25 | $-0.08 | $0.10 | ||
| Q3 25 | $0.06 | $0.00 | ||
| Q2 25 | $-0.17 | $0.18 | ||
| Q1 25 | $-0.20 | $-0.10 | ||
| Q4 24 | $-0.22 | $0.05 | ||
| Q3 24 | $-0.22 | $0.01 | ||
| Q2 24 | $-0.31 | $-0.07 | ||
| Q1 24 | $-0.33 | $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 | $70.5M | $4.4M |
| Total DebtLower is stronger | — | $1.3M |
| Stockholders' EquityBook value | $218.8M | $424.4M |
| Total Assets | $512.7M | $640.5M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $70.5M | $4.4M | ||
| Q3 25 | $55.0M | $5.3M | ||
| Q2 25 | $43.2M | $5.7M | ||
| Q1 25 | $50.6M | $4.7M | ||
| Q4 24 | $47.9M | $4.7M | ||
| Q3 24 | $38.1M | $9.8M | ||
| Q2 24 | $59.8M | $4.3M | ||
| Q1 24 | $71.2M | $2.6M |
| Q4 25 | — | $1.3M | ||
| Q3 25 | — | $1.5M | ||
| Q2 25 | — | $907.0K | ||
| Q1 25 | — | $1.1M | ||
| Q4 24 | — | $1.2M | ||
| Q3 24 | — | $376.0K | ||
| Q2 24 | — | $522.0K | ||
| Q1 24 | — | $3.5M |
| Q4 25 | $218.8M | $424.4M | ||
| Q3 25 | $204.4M | $417.1M | ||
| Q2 25 | $179.7M | $415.9M | ||
| Q1 25 | $190.4M | $406.5M | ||
| Q4 24 | $202.7M | $455.6M | ||
| Q3 24 | $223.8M | $451.5M | ||
| Q2 24 | $241.6M | $449.8M | ||
| Q1 24 | $274.9M | $452.0M |
| Q4 25 | $512.7M | $640.5M | ||
| Q3 25 | $490.6M | $646.3M | ||
| Q2 25 | $496.6M | $646.7M | ||
| Q1 25 | $510.9M | $646.1M | ||
| Q4 24 | $539.4M | $604.7M | ||
| Q3 24 | $558.5M | $601.5M | ||
| Q2 24 | $584.9M | $598.7M | ||
| Q1 24 | $620.3M | $571.7M |
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | 0.00× | ||
| Q1 24 | — | 0.01× |
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 | $2.1M | $11.4M |
| Free Cash FlowOCF − Capex | $1.4M | $9.8M |
| FCF MarginFCF / Revenue | 2.0% | 10.8% |
| Capex IntensityCapex / Revenue | 0.9% | 1.7% |
| Cash ConversionOCF / Net Profit | — | 2.11× |
| TTM Free Cash FlowTrailing 4 quarters | $-48.9M | $-29.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.1M | $11.4M | ||
| Q3 25 | $-7.1M | $-8.9M | ||
| Q2 25 | $-12.4M | $19.8M | ||
| Q1 25 | $-28.5M | $-45.2M | ||
| Q4 24 | $-12.5M | $37.5M | ||
| Q3 24 | $-27.1M | $10.4M | ||
| Q2 24 | $-17.3M | $-15.3M | ||
| Q1 24 | $-38.4M | $-21.5M |
| Q4 25 | $1.4M | $9.8M | ||
| Q3 25 | $-7.5M | $-9.8M | ||
| Q2 25 | $-13.1M | $18.6M | ||
| Q1 25 | $-29.7M | $-47.6M | ||
| Q4 24 | $-12.6M | $32.3M | ||
| Q3 24 | $-27.4M | $8.9M | ||
| Q2 24 | $-19.0M | $-18.9M | ||
| Q1 24 | $-39.9M | $-25.0M |
| Q4 25 | 2.0% | 10.8% | ||
| Q3 25 | -8.0% | -13.8% | ||
| Q2 25 | -22.2% | 17.3% | ||
| Q1 25 | -56.7% | -72.4% | ||
| Q4 24 | -26.5% | 34.0% | ||
| Q3 24 | -59.0% | 10.7% | ||
| Q2 24 | -44.1% | -24.6% | ||
| Q1 24 | -95.2% | -27.7% |
| Q4 25 | 0.9% | 1.7% | ||
| Q3 25 | 0.4% | 1.3% | ||
| Q2 25 | 1.1% | 1.1% | ||
| Q1 25 | 2.4% | 3.7% | ||
| Q4 24 | 0.2% | 5.6% | ||
| Q3 24 | 0.7% | 1.9% | ||
| Q2 24 | 4.0% | 4.7% | ||
| Q1 24 | 3.6% | 3.9% |
| Q4 25 | — | 2.11× | ||
| Q3 25 | -0.75× | — | ||
| Q2 25 | — | 2.31× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 13.89× | ||
| Q3 24 | — | 20.52× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -3.42× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADPT
| Mrd Business Segment | $61.9M | 86% |
| Immune Medicine Business | $9.8M | 14% |
| Immune Medicine Service Revenue | $100.0K | 0% |
ASLE
| Products | $57.8M | 64% |
| Maintenance | $23.2M | 26% |
| Leasing Arrangements | $9.9M | 11% |
