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Side-by-side financial comparison of AGENUS INC (AGEN) and STEM, INC. (STEM). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $34.2M, roughly 1.4× AGENUS INC). AGENUS INC runs the higher net margin — -31.0% vs -33.9%, a 2.9% gap on every dollar of revenue. On growth, AGENUS INC posted the faster year-over-year revenue change (27.5% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs 10.5%).
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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
AGEN vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $34.2M | $47.1M |
| Net Profit | $-10.6M | $-16.0M |
| Gross Margin | — | 48.9% |
| Operating Margin | 42.1% | -17.7% |
| Net Margin | -31.0% | -33.9% |
| Revenue YoY | 27.5% | -15.6% |
| Net Profit YoY | 77.3% | 68.8% |
| EPS (diluted) | $0.09 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $30.2M | $38.2M | ||
| Q2 25 | $25.7M | $38.4M | ||
| Q1 25 | $24.1M | $32.5M | ||
| Q4 24 | $26.8M | $55.8M | ||
| Q3 24 | $25.1M | $29.3M | ||
| Q2 24 | $23.5M | $34.0M | ||
| Q1 24 | $28.0M | $25.5M |
| Q4 25 | $-10.6M | $-16.0M | ||
| Q3 25 | $63.9M | $-23.8M | ||
| Q2 25 | $-30.0M | $202.5M | ||
| Q1 25 | $-26.4M | $-25.0M | ||
| Q4 24 | $-46.8M | $-51.1M | ||
| Q3 24 | $-67.2M | $-148.3M | ||
| Q2 24 | $-54.8M | $-582.3M | ||
| Q1 24 | $-63.5M | $-72.3M |
| Q4 25 | — | 48.9% | ||
| Q3 25 | 97.9% | 35.5% | ||
| Q2 25 | 99.1% | 33.4% | ||
| Q1 25 | 99.4% | 32.4% | ||
| Q4 24 | 99.6% | -4.4% | ||
| Q3 24 | 99.4% | 21.2% | ||
| Q2 24 | 99.5% | 27.6% | ||
| Q1 24 | 99.6% | -95.0% |
| Q4 25 | 42.1% | -17.7% | ||
| Q3 25 | -15.0% | -33.6% | ||
| Q2 25 | -65.0% | -34.8% | ||
| Q1 25 | -55.3% | -65.0% | ||
| Q4 24 | -96.5% | -84.4% | ||
| Q3 24 | -125.5% | -493.2% | ||
| Q2 24 | -128.4% | -1705.5% | ||
| Q1 24 | -117.4% | -267.0% |
| Q4 25 | -31.0% | -33.9% | ||
| Q3 25 | 211.4% | -62.2% | ||
| Q2 25 | -116.8% | 527.8% | ||
| Q1 25 | -109.6% | -76.9% | ||
| Q4 24 | -174.4% | -91.6% | ||
| Q3 24 | -267.7% | -506.3% | ||
| Q2 24 | -233.1% | -1712.6% | ||
| Q1 24 | -226.6% | -283.9% |
| Q4 25 | $0.09 | $-4.40 | ||
| Q3 25 | $1.94 | $-2.84 | ||
| Q2 25 | $-1.00 | $-1.79 | ||
| Q1 25 | $-1.03 | $-0.15 | ||
| Q4 24 | $-1.95 | $-15.29 | ||
| Q3 24 | $-3.08 | $-18.24 | ||
| Q2 24 | $-2.52 | $-71.81 | ||
| Q1 24 | $-3.04 | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | $44.7M | — |
| Stockholders' EquityBook value | $-271.1M | $-249.4M |
| Total Assets | $226.8M | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $48.9M | ||
| Q3 25 | $3.5M | $43.1M | ||
| Q2 25 | $9.5M | $40.8M | ||
| Q1 25 | $18.5M | $58.6M | ||
| Q4 24 | $40.4M | $56.3M | ||
| Q3 24 | $44.8M | $75.4M | ||
| Q2 24 | $93.7M | $89.6M | ||
| Q1 24 | $52.9M | $112.8M |
| Q4 25 | $44.7M | — | ||
| Q3 25 | $34.2M | — | ||
| Q2 25 | $33.9M | — | ||
| Q1 25 | $33.6M | — | ||
| Q4 24 | $33.2M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-271.1M | $-249.4M | ||
| Q3 25 | $-274.1M | $-235.7M | ||
| Q2 25 | $-354.6M | $-214.1M | ||
| Q1 25 | $-341.8M | $-417.5M | ||
| Q4 24 | $-326.4M | $-398.4M | ||
| Q3 24 | $-292.3M | $-344.1M | ||
| Q2 24 | $-241.3M | $-203.2M | ||
| Q1 24 | $-201.4M | $371.6M |
| Q4 25 | $226.8M | $308.9M | ||
| Q3 25 | $233.9M | $362.6M | ||
| Q2 25 | $185.2M | $379.2M | ||
| Q1 25 | $200.2M | $405.1M | ||
| Q4 24 | $226.3M | $437.4M | ||
| Q3 24 | $238.5M | $537.8M | ||
| Q2 24 | $292.4M | $691.5M | ||
| Q1 24 | $256.6M | $1.3B |
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 | $8.2M |
| 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 | $8.2M | ||
| Q3 25 | $-14.7M | $11.4M | ||
| Q2 25 | $-20.2M | $-21.3M | ||
| Q1 25 | $-25.6M | $8.5M | ||
| Q4 24 | $-28.7M | $-14.7M | ||
| Q3 24 | $-53.3M | $-9.4M | ||
| Q2 24 | $-38.2M | $-11.9M | ||
| Q1 24 | $-38.2M | $-621.0K |
| 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 | — | -0.11× | ||
| 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% |
STEM
Segment breakdown not available.
