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Side-by-side financial comparison of Adaptive Biotechnologies Corp (ADPT) and INFINITY NATURAL RESOURCES, INC. (INR). Click either name above to swap in a different company.
INFINITY NATURAL RESOURCES, INC. is the larger business by last-quarter revenue ($115.5M vs $70.9M, roughly 1.6× Adaptive Biotechnologies Corp). INFINITY NATURAL RESOURCES, INC. runs the higher net margin — 17.3% vs 4.7%, a 12.6% gap on every dollar of revenue.
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.
ADPT vs INR — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $70.9M | $115.5M |
| Net Profit | $3.4M | $20.0M |
| Gross Margin | 73.6% | — |
| Operating Margin | -27.1% | 47.0% |
| Net Margin | 4.7% | 17.3% |
| Revenue YoY | 35.1% | — |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $1.33 |
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.
| Q1 26 | $70.9M | — | ||
| Q4 25 | $71.7M | $115.5M | ||
| Q3 25 | $94.0M | $78.3M | ||
| Q2 25 | $58.9M | $72.5M | ||
| Q1 25 | $52.4M | $84.2M | ||
| Q4 24 | $47.5M | — | ||
| Q3 24 | $46.4M | — | ||
| Q2 24 | $43.2M | — |
| Q1 26 | $3.4M | — | ||
| Q4 25 | $-13.6M | $20.0M | ||
| Q3 25 | $9.5M | $10.4M | ||
| Q2 25 | $-25.6M | $18.0M | ||
| Q1 25 | $-29.9M | $-34.6M | ||
| Q4 24 | $-33.7M | — | ||
| Q3 24 | $-32.1M | — | ||
| Q2 24 | $-46.2M | — |
| Q1 26 | 73.6% | — | ||
| Q4 25 | 74.6% | — | ||
| Q3 25 | 80.7% | — | ||
| Q2 25 | 69.4% | — | ||
| Q1 25 | 67.6% | — | ||
| Q4 24 | 62.0% | — | ||
| Q3 24 | 64.1% | — | ||
| Q2 24 | 55.3% | — |
| Q1 26 | -27.1% | — | ||
| Q4 25 | -17.8% | 47.0% | ||
| Q3 25 | 10.9% | 30.5% | ||
| Q2 25 | -42.5% | 29.9% | ||
| Q1 25 | -56.4% | -104.5% | ||
| Q4 24 | -71.3% | — | ||
| Q3 24 | -70.3% | — | ||
| Q2 24 | -109.6% | — |
| Q1 26 | 4.7% | — | ||
| Q4 25 | -18.9% | 17.3% | ||
| Q3 25 | 10.2% | 13.3% | ||
| Q2 25 | -43.5% | 24.8% | ||
| Q1 25 | -56.9% | -41.1% | ||
| Q4 24 | -71.0% | — | ||
| Q3 24 | -69.1% | — | ||
| Q2 24 | -107.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | $-0.08 | $1.33 | ||
| Q3 25 | $0.06 | $0.65 | ||
| Q2 25 | $-0.17 | $1.18 | ||
| Q1 25 | $-0.20 | $-2.27 | ||
| Q4 24 | $-0.22 | — | ||
| Q3 24 | $-0.22 | — | ||
| Q2 24 | $-0.31 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $77.6M | $2.8M |
| Total DebtLower is stronger | — | $55.0K |
| Stockholders' EquityBook value | — | $307.1M |
| Total Assets | $505.9M | $1.2B |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $77.6M | — | ||
| Q4 25 | $70.5M | $2.8M | ||
| Q3 25 | $55.0M | $4.6M | ||
| Q2 25 | $43.2M | $6.3M | ||
| Q1 25 | $50.6M | $4.9M | ||
| Q4 24 | $47.9M | — | ||
| Q3 24 | $38.1M | — | ||
| Q2 24 | $59.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | $55.0K | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $123.0K | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $218.8M | $307.1M | ||
| Q3 25 | $204.4M | $288.6M | ||
| Q2 25 | $179.7M | $10.1M | ||
| Q1 25 | $190.4M | $-52.2M | ||
| Q4 24 | $202.7M | — | ||
| Q3 24 | $223.8M | — | ||
| Q2 24 | $241.6M | — |
| Q1 26 | $505.9M | — | ||
| Q4 25 | $512.7M | $1.2B | ||
| Q3 25 | $490.6M | $1.1B | ||
| Q2 25 | $496.6M | $1.0B | ||
| Q1 25 | $510.9M | $953.9M | ||
| Q4 24 | $539.4M | — | ||
| Q3 24 | $558.5M | — | ||
| Q2 24 | $584.9M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.00× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $75.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.75× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $2.1M | $75.1M | ||
| Q3 25 | $-7.1M | $42.1M | ||
| Q2 25 | $-12.4M | $70.4M | ||
| Q1 25 | $-28.5M | $74.2M | ||
| Q4 24 | $-12.5M | — | ||
| Q3 24 | $-27.1M | — | ||
| Q2 24 | $-17.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.4M | — | ||
| Q3 25 | $-7.5M | — | ||
| Q2 25 | $-13.1M | — | ||
| Q1 25 | $-29.7M | — | ||
| Q4 24 | $-12.6M | — | ||
| Q3 24 | $-27.4M | — | ||
| Q2 24 | $-19.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.0% | — | ||
| Q3 25 | -8.0% | — | ||
| Q2 25 | -22.2% | — | ||
| Q1 25 | -56.7% | — | ||
| Q4 24 | -26.5% | — | ||
| Q3 24 | -59.0% | — | ||
| Q2 24 | -44.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.9% | — | ||
| Q3 25 | 0.4% | — | ||
| Q2 25 | 1.1% | — | ||
| Q1 25 | 2.4% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 4.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.75× | ||
| Q3 25 | -0.75× | 4.04× | ||
| Q2 25 | — | 3.91× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADPT
Segment breakdown not available.
INR
| Oil Reserves | $54.0M | 47% |
| Natural Gas Reserves | $46.8M | 41% |
| Natural Gas Liquids Reserves | $14.7M | 13% |
