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Side-by-side financial comparison of AGENUS INC (AGEN) and Canaan Inc. (CAN). Click either name above to swap in a different company.
AGENUS INC is the larger business by last-quarter revenue ($34.2M vs $20.8M, roughly 1.6× Canaan Inc.). Canaan Inc. runs the higher net margin — -18.4% vs -31.0%, a 12.6% gap on every dollar of revenue.
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.
Canaan Inc., doing business as Canaan Creative and known simply as Canaan, is a Singapore-based computer hardware manufacturer. Established in 2013 by N.G. Zhang, Canaan specializes in Blockchain servers and ASIC microprocessors for use in bitcoin mining.
AGEN vs CAN — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.2M | $20.8M |
| Net Profit | $-10.6M | $-3.8M |
| Gross Margin | — | 99.9% |
| Operating Margin | 42.1% | -15.9% |
| Net Margin | -31.0% | -18.4% |
| Revenue YoY | 27.5% | — |
| Net Profit YoY | 77.3% | — |
| EPS (diluted) | $0.09 | $-0.05 |
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 | $34.2M | $20.8M | ||
| Q3 25 | $30.2M | $13.8M | ||
| Q2 25 | $25.7M | $11.4M | ||
| Q1 25 | $24.1M | — | ||
| Q4 24 | $26.8M | — | ||
| Q3 24 | $25.1M | $10.2M | ||
| Q2 24 | $23.5M | $4.8M | ||
| Q1 24 | $28.0M | — |
| Q4 25 | $-10.6M | $-3.8M | ||
| Q3 25 | $63.9M | $-1.5M | ||
| Q2 25 | $-30.0M | $-11.9M | ||
| Q1 25 | $-26.4M | — | ||
| Q4 24 | $-46.8M | — | ||
| Q3 24 | $-67.2M | $-10.4M | ||
| Q2 24 | $-54.8M | $-5.4M | ||
| Q1 24 | $-63.5M | — |
| Q4 25 | — | 99.9% | ||
| Q3 25 | 97.9% | 99.9% | ||
| Q2 25 | 99.1% | 99.9% | ||
| Q1 25 | 99.4% | — | ||
| Q4 24 | 99.6% | — | ||
| Q3 24 | 99.4% | 99.9% | ||
| Q2 24 | 99.5% | 99.8% | ||
| Q1 24 | 99.6% | — |
| Q4 25 | 42.1% | -15.9% | ||
| Q3 25 | -15.0% | -27.0% | ||
| Q2 25 | -65.0% | -45.5% | ||
| Q1 25 | -55.3% | — | ||
| Q4 24 | -96.5% | — | ||
| Q3 24 | -125.5% | -77.2% | ||
| Q2 24 | -128.4% | -193.9% | ||
| Q1 24 | -117.4% | — |
| Q4 25 | -31.0% | -18.4% | ||
| Q3 25 | 211.4% | -11.0% | ||
| Q2 25 | -116.8% | -104.4% | ||
| Q1 25 | -109.6% | — | ||
| Q4 24 | -174.4% | — | ||
| Q3 24 | -267.7% | -102.7% | ||
| Q2 24 | -233.1% | -112.3% | ||
| Q1 24 | -226.6% | — |
| Q4 25 | $0.09 | $-0.05 | ||
| Q3 25 | $1.94 | $-0.02 | ||
| Q2 25 | $-1.00 | $-0.25 | ||
| Q1 25 | $-1.03 | — | ||
| Q4 24 | $-1.95 | — | ||
| Q3 24 | $-3.08 | — | ||
| Q2 24 | $-2.52 | — | ||
| Q1 24 | $-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 | $3.0M | — |
| Total DebtLower is stronger | $44.7M | $6.2M |
| Stockholders' EquityBook value | $-271.1M | $52.4M |
| Total Assets | $226.8M | $92.5M |
| Debt / EquityLower = less leverage | — | 0.12× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | — | ||
| Q3 25 | $3.5M | — | ||
| Q2 25 | $9.5M | — | ||
| Q1 25 | $18.5M | — | ||
| Q4 24 | $40.4M | — | ||
| Q3 24 | $44.8M | — | ||
| Q2 24 | $93.7M | — | ||
| Q1 24 | $52.9M | — |
| Q4 25 | $44.7M | $6.2M | ||
| Q3 25 | $34.2M | $6.2M | ||
| Q2 25 | $33.9M | $6.2M | ||
| Q1 25 | $33.6M | — | ||
| Q4 24 | $33.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-271.1M | $52.4M | ||
| Q3 25 | $-274.1M | $44.7M | ||
| Q2 25 | $-354.6M | $33.8M | ||
| Q1 25 | $-341.8M | — | ||
| Q4 24 | $-326.4M | — | ||
| Q3 24 | $-292.3M | $43.6M | ||
| Q2 24 | $-241.3M | $56.8M | ||
| Q1 24 | $-201.4M | — |
| Q4 25 | $226.8M | $92.5M | ||
| Q3 25 | $233.9M | $81.7M | ||
| Q2 25 | $185.2M | $78.0M | ||
| Q1 25 | $200.2M | — | ||
| Q4 24 | $226.3M | — | ||
| Q3 24 | $238.5M | $69.3M | ||
| Q2 24 | $292.4M | $73.7M | ||
| Q1 24 | $256.6M | — |
| Q4 25 | — | 0.12× | ||
| Q3 25 | — | 0.14× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $-16.6M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.6M | — | ||
| Q3 25 | $-14.7M | — | ||
| Q2 25 | $-20.2M | — | ||
| Q1 25 | $-25.6M | — | ||
| Q4 24 | $-28.7M | — | ||
| Q3 24 | $-53.3M | — | ||
| Q2 24 | $-38.2M | — | ||
| Q1 24 | $-38.2M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-20.2M | — | ||
| Q1 25 | $-25.6M | — | ||
| Q4 24 | $-28.7M | — | ||
| Q3 24 | $-53.3M | — | ||
| Q2 24 | $-38.6M | — | ||
| Q1 24 | $-38.2M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -78.7% | — | ||
| Q1 25 | -106.5% | — | ||
| Q4 24 | -107.0% | — | ||
| Q3 24 | -212.2% | — | ||
| Q2 24 | -164.4% | — | ||
| Q1 24 | -136.5% | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 2.0% | — | ||
| Q1 24 | 0.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | -0.23× | — | ||
| 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
AGEN
| Non Cash Royalty Revenue | $31.1M | 91% |
| Other | $3.2M | 9% |
CAN
Segment breakdown not available.
