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Side-by-side financial comparison of AGENUS INC (AGEN) and Valneva SE (VALN). Click either name above to swap in a different company.
Valneva SE is the larger business by last-quarter revenue ($36.2M vs $34.2M, roughly 1.1× AGENUS INC). AGENUS INC runs the higher net margin — -31.0% vs -54.1%, a 23.1% 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.
Valneva SE is a specialty vaccine company registered in Saint-Herblain, France, developing, producing and commercializing vaccines for infectious diseases. It has manufacturing sites in Livingston, Scotland; Solna, Sweden, and Vienna, Austria; with other offices in France, Canada and the United States.
AGEN vs VALN — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2023
| Metric | | |
|---|---|---|
| Revenue | $34.2M | $36.2M |
| Net Profit | $-10.6M | $-19.6M |
| Gross Margin | — | 38.9% |
| Operating Margin | 42.1% | -49.5% |
| Net Margin | -31.0% | -54.1% |
| Revenue YoY | 27.5% | — |
| Net Profit YoY | 77.3% | — |
| EPS (diluted) | $0.09 | — |
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 | — | ||
| Q3 25 | $30.2M | — | ||
| Q2 25 | $25.7M | — | ||
| Q1 25 | $24.1M | — | ||
| Q4 24 | $26.8M | — | ||
| Q3 24 | $25.1M | — | ||
| Q2 24 | $23.5M | — | ||
| Q1 24 | $28.0M | — |
| Q4 25 | $-10.6M | — | ||
| Q3 25 | $63.9M | — | ||
| Q2 25 | $-30.0M | — | ||
| Q1 25 | $-26.4M | — | ||
| Q4 24 | $-46.8M | — | ||
| Q3 24 | $-67.2M | — | ||
| Q2 24 | $-54.8M | — | ||
| Q1 24 | $-63.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | 97.9% | — | ||
| Q2 25 | 99.1% | — | ||
| Q1 25 | 99.4% | — | ||
| Q4 24 | 99.6% | — | ||
| Q3 24 | 99.4% | — | ||
| Q2 24 | 99.5% | — | ||
| Q1 24 | 99.6% | — |
| Q4 25 | 42.1% | — | ||
| Q3 25 | -15.0% | — | ||
| Q2 25 | -65.0% | — | ||
| Q1 25 | -55.3% | — | ||
| Q4 24 | -96.5% | — | ||
| Q3 24 | -125.5% | — | ||
| Q2 24 | -128.4% | — | ||
| Q1 24 | -117.4% | — |
| Q4 25 | -31.0% | — | ||
| Q3 25 | 211.4% | — | ||
| Q2 25 | -116.8% | — | ||
| Q1 25 | -109.6% | — | ||
| Q4 24 | -174.4% | — | ||
| Q3 24 | -267.7% | — | ||
| Q2 24 | -233.1% | — | ||
| Q1 24 | -226.6% | — |
| Q4 25 | $0.09 | — | ||
| Q3 25 | $1.94 | — | ||
| Q2 25 | $-1.00 | — | ||
| 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 | $274.8M |
| Total DebtLower is stronger | $44.7M | — |
| Stockholders' EquityBook value | $-271.1M | $221.2M |
| Total Assets | $226.8M | $637.2M |
| Debt / EquityLower = less leverage | — | — |
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 | — | ||
| 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 | — | ||
| Q3 25 | $-274.1M | — | ||
| Q2 25 | $-354.6M | — | ||
| Q1 25 | $-341.8M | — | ||
| Q4 24 | $-326.4M | — | ||
| Q3 24 | $-292.3M | — | ||
| Q2 24 | $-241.3M | — | ||
| Q1 24 | $-201.4M | — |
| Q4 25 | $226.8M | — | ||
| Q3 25 | $233.9M | — | ||
| Q2 25 | $185.2M | — | ||
| Q1 25 | $200.2M | — | ||
| Q4 24 | $226.3M | — | ||
| Q3 24 | $238.5M | — | ||
| Q2 24 | $292.4M | — | ||
| Q1 24 | $256.6M | — |
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 | $-26.3M |
| 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% |
VALN
Segment breakdown not available.
