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Side-by-side financial comparison of Adaptive Biotechnologies Corp (ADPT) and IMAX CORP (IMAX). Click either name above to swap in a different company.
IMAX CORP is the larger business by last-quarter revenue ($125.2M vs $71.7M, roughly 1.7× Adaptive Biotechnologies Corp). IMAX CORP runs the higher net margin — 0.5% vs -18.9%, a 19.5% gap on every dollar of revenue. On growth, Adaptive Biotechnologies Corp posted the faster year-over-year revenue change (51.0% vs 35.1%). IMAX CORP produced more free cash flow last quarter ($28.0M vs $1.4M). Over the past eight quarters, Adaptive Biotechnologies Corp's revenue compounded faster (30.8% CAGR vs 25.8%).
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.
IMAX Corporation is a Canadian production theatre company which designs and manufactures IMAX cameras and projection systems as well as performing film development, production, post-production and distribution to IMAX-affiliated theatres worldwide. Founded in Montreal in 1967, it has headquarters in the Toronto area, and operations in New York City and Los Angeles.
ADPT vs IMAX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $71.7M | $125.2M |
| Net Profit | $-13.6M | $637.0K |
| Gross Margin | 74.6% | 57.6% |
| Operating Margin | -17.8% | 19.3% |
| Net Margin | -18.9% | 0.5% |
| Revenue YoY | 51.0% | 35.1% |
| Net Profit YoY | 59.7% | -88.0% |
| EPS (diluted) | $-0.08 | $0.02 |
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 | $125.2M | ||
| Q3 25 | $94.0M | $106.7M | ||
| Q2 25 | $58.9M | $91.7M | ||
| Q1 25 | $52.4M | $86.7M | ||
| Q4 24 | $47.5M | $92.7M | ||
| Q3 24 | $46.4M | $91.5M | ||
| Q2 24 | $43.2M | $89.0M | ||
| Q1 24 | $41.9M | $79.1M |
| Q4 25 | $-13.6M | $637.0K | ||
| Q3 25 | $9.5M | $20.7M | ||
| Q2 25 | $-25.6M | $11.3M | ||
| Q1 25 | $-29.9M | $2.3M | ||
| Q4 24 | $-33.7M | $5.3M | ||
| Q3 24 | $-32.1M | $13.9M | ||
| Q2 24 | $-46.2M | $3.6M | ||
| Q1 24 | $-47.5M | $3.3M |
| Q4 25 | 74.6% | 57.6% | ||
| Q3 25 | 80.7% | 63.1% | ||
| Q2 25 | 69.4% | 58.5% | ||
| Q1 25 | 67.6% | 61.4% | ||
| Q4 24 | 62.0% | 52.2% | ||
| Q3 24 | 64.1% | 55.8% | ||
| Q2 24 | 55.3% | 49.4% | ||
| Q1 24 | 56.9% | 59.3% |
| Q4 25 | -17.8% | 19.3% | ||
| Q3 25 | 10.9% | 27.2% | ||
| Q2 25 | -42.5% | 15.6% | ||
| Q1 25 | -56.4% | 19.3% | ||
| Q4 24 | -71.3% | 10.3% | ||
| Q3 24 | -70.3% | 21.2% | ||
| Q2 24 | -109.6% | 3.2% | ||
| Q1 24 | -116.5% | 15.3% |
| Q4 25 | -18.9% | 0.5% | ||
| Q3 25 | 10.2% | 19.4% | ||
| Q2 25 | -43.5% | 12.3% | ||
| Q1 25 | -56.9% | 2.7% | ||
| Q4 24 | -71.0% | 5.7% | ||
| Q3 24 | -69.1% | 15.2% | ||
| Q2 24 | -107.0% | 4.0% | ||
| Q1 24 | -113.5% | 4.1% |
| Q4 25 | $-0.08 | $0.02 | ||
| Q3 25 | $0.06 | $0.37 | ||
| Q2 25 | $-0.17 | $0.20 | ||
| Q1 25 | $-0.20 | $0.04 | ||
| Q4 24 | $-0.22 | $0.09 | ||
| Q3 24 | $-0.22 | $0.26 | ||
| Q2 24 | $-0.31 | $0.07 | ||
| Q1 24 | $-0.33 | $0.06 |
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 | $151.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $218.8M | $337.9M |
| Total Assets | $512.7M | $894.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $70.5M | $151.2M | ||
| Q3 25 | $55.0M | $143.1M | ||
| Q2 25 | $43.2M | $109.3M | ||
| Q1 25 | $50.6M | $97.1M | ||
| Q4 24 | $47.9M | $100.6M | ||
| Q3 24 | $38.1M | $104.5M | ||
| Q2 24 | $59.8M | $91.6M | ||
| Q1 24 | $71.2M | $81.0M |
| Q4 25 | $218.8M | $337.9M | ||
| Q3 25 | $204.4M | $349.5M | ||
| Q2 25 | $179.7M | $320.4M | ||
| Q1 25 | $190.4M | $299.5M | ||
| Q4 24 | $202.7M | $299.5M | ||
| Q3 24 | $223.8M | $289.4M | ||
| Q2 24 | $241.6M | $267.2M | ||
| Q1 24 | $274.9M | $258.8M |
| Q4 25 | $512.7M | $894.0M | ||
| Q3 25 | $490.6M | $889.6M | ||
| Q2 25 | $496.6M | $868.6M | ||
| Q1 25 | $510.9M | $848.3M | ||
| Q4 24 | $539.4M | $830.4M | ||
| Q3 24 | $558.5M | $847.6M | ||
| Q2 24 | $584.9M | $827.4M | ||
| Q1 24 | $620.3M | $824.1M |
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 | $29.4M |
| Free Cash FlowOCF − Capex | $1.4M | $28.0M |
| FCF MarginFCF / Revenue | 2.0% | 22.3% |
| Capex IntensityCapex / Revenue | 0.9% | 1.1% |
| Cash ConversionOCF / Net Profit | — | 46.11× |
| TTM Free Cash FlowTrailing 4 quarters | $-48.9M | $118.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.1M | $29.4M | ||
| Q3 25 | $-7.1M | $67.5M | ||
| Q2 25 | $-12.4M | $23.2M | ||
| Q1 25 | $-28.5M | $7.0M | ||
| Q4 24 | $-12.5M | $11.5M | ||
| Q3 24 | $-27.1M | $35.3M | ||
| Q2 24 | $-17.3M | $35.0M | ||
| Q1 24 | $-38.4M | $-11.0M |
| Q4 25 | $1.4M | $28.0M | ||
| Q3 25 | $-7.5M | $64.8M | ||
| Q2 25 | $-13.1M | $20.9M | ||
| Q1 25 | $-29.7M | $5.3M | ||
| Q4 24 | $-12.6M | $6.9M | ||
| Q3 24 | $-27.4M | $34.2M | ||
| Q2 24 | $-19.0M | $33.5M | ||
| Q1 24 | $-39.9M | $-12.1M |
| Q4 25 | 2.0% | 22.3% | ||
| Q3 25 | -8.0% | 60.7% | ||
| Q2 25 | -22.2% | 22.8% | ||
| Q1 25 | -56.7% | 6.1% | ||
| Q4 24 | -26.5% | 7.4% | ||
| Q3 24 | -59.0% | 37.3% | ||
| Q2 24 | -44.1% | 37.6% | ||
| Q1 24 | -95.2% | -15.3% |
| Q4 25 | 0.9% | 1.1% | ||
| Q3 25 | 0.4% | 2.6% | ||
| Q2 25 | 1.1% | 2.6% | ||
| Q1 25 | 2.4% | 1.9% | ||
| Q4 24 | 0.2% | 5.0% | ||
| Q3 24 | 0.7% | 1.2% | ||
| Q2 24 | 4.0% | 1.8% | ||
| Q1 24 | 3.6% | 1.4% |
| Q4 25 | — | 46.11× | ||
| Q3 25 | -0.75× | 3.27× | ||
| Q2 25 | — | 2.06× | ||
| Q1 25 | — | 2.99× | ||
| Q4 24 | — | 2.16× | ||
| Q3 24 | — | 2.54× | ||
| Q2 24 | — | 9.78× | ||
| Q1 24 | — | -3.35× |
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% |
IMAX
| Technology Sales | $46.6M | 37% |
| Image Enhancement And Maintenance Services | $38.1M | 30% |
| Joint Revenue Sharing Arrangement | $20.4M | 16% |
| Maintenance | $16.3M | 13% |
| Finance Income | $2.8M | 2% |
| Other Content Solutions | $1.6M | 1% |
