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Side-by-side financial comparison of Adaptive Biotechnologies Corp (ADPT) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
iQSTEL Inc is the larger business by last-quarter revenue ($84.2M vs $71.7M, roughly 1.2× Adaptive Biotechnologies Corp). iQSTEL Inc runs the higher net margin — -3.2% vs -18.9%, a 15.7% gap on every dollar of revenue. On growth, Adaptive Biotechnologies Corp posted the faster year-over-year revenue change (51.0% vs -14.9%). Adaptive Biotechnologies Corp produced more free cash flow last quarter ($1.4M vs $-1.2M). Over the past eight quarters, Adaptive Biotechnologies Corp's revenue compounded faster (30.8% CAGR vs 28.0%).
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.
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
ADPT vs IQST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $71.7M | $84.2M |
| Net Profit | $-13.6M | $-2.7M |
| Gross Margin | 74.6% | 3.5% |
| Operating Margin | -17.8% | -2.9% |
| Net Margin | -18.9% | -3.2% |
| Revenue YoY | 51.0% | -14.9% |
| Net Profit YoY | 59.7% | -44.5% |
| EPS (diluted) | $-0.08 | $-0.92 |
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 | $84.2M | ||
| Q3 25 | $94.0M | $102.9M | ||
| Q2 25 | $58.9M | $72.2M | ||
| Q1 25 | $52.4M | $57.6M | ||
| Q4 24 | $47.5M | $98.9M | ||
| Q3 24 | $46.4M | $54.2M | ||
| Q2 24 | $43.2M | $78.6M | ||
| Q1 24 | $41.9M | $51.4M |
| Q4 25 | $-13.6M | $-2.7M | ||
| Q3 25 | $9.5M | $-2.3M | ||
| Q2 25 | $-25.6M | $-2.3M | ||
| Q1 25 | $-29.9M | $-1.1M | ||
| Q4 24 | $-33.7M | $-1.9M | ||
| Q3 24 | $-32.1M | $-773.0K | ||
| Q2 24 | $-46.2M | $-2.0M | ||
| Q1 24 | $-47.5M | $-580.2K |
| Q4 25 | 74.6% | 3.5% | ||
| Q3 25 | 80.7% | 2.7% | ||
| Q2 25 | 69.4% | 2.6% | ||
| Q1 25 | 67.6% | 3.4% | ||
| Q4 24 | 62.0% | 2.7% | ||
| Q3 24 | 64.1% | 3.7% | ||
| Q2 24 | 55.3% | 2.8% | ||
| Q1 24 | 56.9% | 2.7% |
| Q4 25 | -17.8% | -2.9% | ||
| Q3 25 | 10.9% | -0.5% | ||
| Q2 25 | -42.5% | -0.9% | ||
| Q1 25 | -56.4% | -1.0% | ||
| Q4 24 | -71.3% | -0.3% | ||
| Q3 24 | -70.3% | -0.1% | ||
| Q2 24 | -109.6% | -0.4% | ||
| Q1 24 | -116.5% | -0.4% |
| Q4 25 | -18.9% | -3.2% | ||
| Q3 25 | 10.2% | -2.3% | ||
| Q2 25 | -43.5% | -3.3% | ||
| Q1 25 | -56.9% | -2.0% | ||
| Q4 24 | -71.0% | -1.9% | ||
| Q3 24 | -69.1% | -1.4% | ||
| Q2 24 | -107.0% | -2.5% | ||
| Q1 24 | -113.5% | -1.1% |
| Q4 25 | $-0.08 | $-0.92 | ||
| Q3 25 | $0.06 | $-0.68 | ||
| Q2 25 | $-0.17 | $-0.82 | ||
| Q1 25 | $-0.20 | $-0.44 | ||
| Q4 24 | $-0.22 | $-1.19 | ||
| Q3 24 | $-0.22 | $-0.40 | ||
| Q2 24 | $-0.31 | $-0.90 | ||
| Q1 24 | $-0.33 | $-0.37 |
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 | $2.2M |
| Total DebtLower is stronger | — | $4.1M |
| Stockholders' EquityBook value | $218.8M | $16.3M |
| Total Assets | $512.7M | $51.1M |
| Debt / EquityLower = less leverage | — | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $70.5M | $2.2M | ||
| Q3 25 | $55.0M | $2.3M | ||
| Q2 25 | $43.2M | $2.0M | ||
| Q1 25 | $50.6M | $1.1M | ||
| Q4 24 | $47.9M | $2.5M | ||
| Q3 24 | $38.1M | $2.1M | ||
| Q2 24 | $59.8M | $797.2K | ||
| Q1 24 | $71.2M | $2.7M |
| Q4 25 | — | $4.1M | ||
| Q3 25 | — | $2.7M | ||
| Q2 25 | — | $4.5M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $194.0K |
| Q4 25 | $218.8M | $16.3M | ||
| Q3 25 | $204.4M | $17.9M | ||
| Q2 25 | $179.7M | $14.3M | ||
| Q1 25 | $190.4M | $11.6M | ||
| Q4 24 | $202.7M | $11.9M | ||
| Q3 24 | $223.8M | $8.1M | ||
| Q2 24 | $241.6M | $7.6M | ||
| Q1 24 | $274.9M | $8.4M |
| Q4 25 | $512.7M | $51.1M | ||
| Q3 25 | $490.6M | $46.9M | ||
| Q2 25 | $496.6M | $51.4M | ||
| Q1 25 | $510.9M | $42.0M | ||
| Q4 24 | $539.4M | $79.0M | ||
| Q3 24 | $558.5M | $32.4M | ||
| Q2 24 | $584.9M | $30.0M | ||
| Q1 24 | $620.3M | $22.1M |
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | — | 0.21× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.02× |
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 | $-1.2M |
| Free Cash FlowOCF − Capex | $1.4M | $-1.2M |
| FCF MarginFCF / Revenue | 2.0% | -1.5% |
| Capex IntensityCapex / Revenue | 0.9% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-48.9M | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.1M | $-1.2M | ||
| Q3 25 | $-7.1M | $-953.0K | ||
| Q2 25 | $-12.4M | $257.7K | ||
| Q1 25 | $-28.5M | $-1.9M | ||
| Q4 24 | $-12.5M | $-403.7K | ||
| Q3 24 | $-27.1M | $625.0K | ||
| Q2 24 | $-17.3M | $-2.6M | ||
| Q1 24 | $-38.4M | $-536.9K |
| Q4 25 | $1.4M | $-1.2M | ||
| Q3 25 | $-7.5M | $-969.2K | ||
| Q2 25 | $-13.1M | $211.7K | ||
| Q1 25 | $-29.7M | $-2.0M | ||
| Q4 24 | $-12.6M | $-421.3K | ||
| Q3 24 | $-27.4M | $594.5K | ||
| Q2 24 | $-19.0M | $-2.6M | ||
| Q1 24 | $-39.9M | $-608.5K |
| Q4 25 | 2.0% | -1.5% | ||
| Q3 25 | -8.0% | -0.9% | ||
| Q2 25 | -22.2% | 0.3% | ||
| Q1 25 | -56.7% | -3.4% | ||
| Q4 24 | -26.5% | -0.4% | ||
| Q3 24 | -59.0% | 1.1% | ||
| Q2 24 | -44.1% | -3.4% | ||
| Q1 24 | -95.2% | -1.2% |
| Q4 25 | 0.9% | 0.0% | ||
| Q3 25 | 0.4% | 0.0% | ||
| Q2 25 | 1.1% | 0.1% | ||
| Q1 25 | 2.4% | 0.1% | ||
| Q4 24 | 0.2% | 0.0% | ||
| Q3 24 | 0.7% | 0.1% | ||
| Q2 24 | 4.0% | 0.0% | ||
| Q1 24 | 3.6% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | -0.75× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
