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Side-by-side financial comparison of C3.ai, Inc. (AI) and 4D Molecular Therapeutics, Inc. (FDMT). Click either name above to swap in a different company.
4D Molecular Therapeutics, Inc. is the larger business by last-quarter revenue ($85.1M vs $75.1M, roughly 1.1× C3.ai, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs -139.3%, a 162.1% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs -20.3%). 4D Molecular Therapeutics, Inc. produced more free cash flow last quarter ($28.5M vs $-46.9M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs -2.1%).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
AI vs FDMT — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $85.1M |
| Net Profit | $-104.7M | $19.4M |
| Gross Margin | 40.4% | — |
| Operating Margin | -149.2% | 17.3% |
| Net Margin | -139.3% | 22.8% |
| Revenue YoY | -20.3% | 8508900.0% |
| Net Profit YoY | -58.7% | 139.1% |
| EPS (diluted) | $-0.75 | $0.43 |
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 | $75.1M | $85.1M | ||
| Q3 25 | $70.3M | $90.0K | ||
| Q2 25 | $108.7M | $15.0K | ||
| Q1 25 | $98.8M | $14.0K | ||
| Q4 24 | $94.3M | $1.0K | ||
| Q3 24 | $87.2M | $3.0K | ||
| Q2 24 | $86.6M | $5.0K | ||
| Q1 24 | $78.4M | $28.0K |
| Q4 25 | $-104.7M | $19.4M | ||
| Q3 25 | $-116.8M | $-56.9M | ||
| Q2 25 | $-79.7M | $-54.7M | ||
| Q1 25 | $-80.2M | $-48.0M | ||
| Q4 24 | $-66.0M | — | ||
| Q3 24 | $-62.8M | $-43.8M | ||
| Q2 24 | $-72.9M | $-35.0M | ||
| Q1 24 | $-72.6M | $-32.4M |
| Q4 25 | 40.4% | — | ||
| Q3 25 | 37.6% | — | ||
| Q2 25 | 62.1% | — | ||
| Q1 25 | 59.1% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 59.8% | — | ||
| Q2 24 | 59.6% | — | ||
| Q1 24 | 57.8% | — |
| Q4 25 | -149.2% | 17.3% | ||
| Q3 25 | -177.7% | -67983.3% | ||
| Q2 25 | -81.8% | -396373.3% | ||
| Q1 25 | -88.7% | -383007.1% | ||
| Q4 24 | -79.8% | — | ||
| Q3 24 | -83.2% | -1704400.0% | ||
| Q2 24 | -95.1% | -849120.0% | ||
| Q1 24 | -105.3% | -136200.0% |
| Q4 25 | -139.3% | 22.8% | ||
| Q3 25 | -166.2% | -63195.6% | ||
| Q2 25 | -73.3% | -364386.7% | ||
| Q1 25 | -81.2% | -342657.1% | ||
| Q4 24 | -69.9% | — | ||
| Q3 24 | -72.0% | -1461433.3% | ||
| Q2 24 | -84.2% | -699060.0% | ||
| Q1 24 | -92.6% | -115717.9% |
| Q4 25 | $-0.75 | $0.43 | ||
| Q3 25 | $-0.86 | $-1.01 | ||
| Q2 25 | $-0.60 | $-0.98 | ||
| Q1 25 | $-0.62 | $-0.86 | ||
| Q4 24 | $-0.52 | — | ||
| Q3 24 | $-0.50 | $-0.79 | ||
| Q2 24 | $-0.59 | $-0.63 | ||
| Q1 24 | $-0.60 | $-0.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $675.0M | $402.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $771.9M | $505.7M |
| Total Assets | $961.3M | $566.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $402.7M | ||
| Q3 25 | $711.9M | $305.1M | ||
| Q2 25 | $742.7M | $293.2M | ||
| Q1 25 | $724.3M | $321.4M | ||
| Q4 24 | $730.4M | $424.9M | ||
| Q3 24 | $762.5M | $501.9M | ||
| Q2 24 | $750.4M | $541.9M | ||
| Q1 24 | $723.3M | $525.9M |
| Q4 25 | $771.9M | $505.7M | ||
| Q3 25 | $798.8M | $369.0M | ||
| Q2 25 | $838.3M | $420.9M | ||
| Q1 25 | $860.2M | $469.7M | ||
| Q4 24 | $859.0M | $510.6M | ||
| Q3 24 | $874.9M | $552.9M | ||
| Q2 24 | $873.4M | $588.3M | ||
| Q1 24 | $898.0M | $600.6M |
| Q4 25 | $961.3M | $566.7M | ||
| Q3 25 | $968.7M | $424.0M | ||
| Q2 25 | $1.0B | $473.6M | ||
| Q1 25 | $1.1B | $515.7M | ||
| Q4 24 | $1.0B | $560.4M | ||
| Q3 24 | $1.1B | $604.0M | ||
| Q2 24 | $1.0B | $620.1M | ||
| Q1 24 | $1.1B | $629.9M |
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 | $-46.5M | $28.6M |
| Free Cash FlowOCF − Capex | $-46.9M | $28.5M |
| FCF MarginFCF / Revenue | -62.4% | 33.5% |
| Capex IntensityCapex / Revenue | 0.5% | 0.1% |
| Cash ConversionOCF / Net Profit | — | 1.47× |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $-109.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $28.6M | ||
| Q3 25 | $-33.5M | $-46.5M | ||
| Q2 25 | $11.3M | $-43.4M | ||
| Q1 25 | $-22.0M | $-47.8M | ||
| Q4 24 | $-38.7M | $-134.6M | ||
| Q3 24 | $8.0M | $-29.4M | ||
| Q2 24 | $21.3M | $-30.2M | ||
| Q1 24 | $-39.1M | $-29.1M |
| Q4 25 | $-46.9M | $28.5M | ||
| Q3 25 | $-34.3M | $-46.6M | ||
| Q2 25 | $10.3M | $-43.4M | ||
| Q1 25 | $-22.4M | $-48.4M | ||
| Q4 24 | $-39.5M | $-138.4M | ||
| Q3 24 | $7.1M | $-31.2M | ||
| Q2 24 | $18.8M | $-30.6M | ||
| Q1 24 | $-45.1M | $-29.8M |
| Q4 25 | -62.4% | 33.5% | ||
| Q3 25 | -48.8% | -51765.6% | ||
| Q2 25 | 9.5% | -289620.0% | ||
| Q1 25 | -22.7% | -345635.7% | ||
| Q4 24 | -41.9% | -13837100.0% | ||
| Q3 24 | 8.2% | -1038966.7% | ||
| Q2 24 | 21.7% | -611840.0% | ||
| Q1 24 | -57.6% | -106421.4% |
| Q4 25 | 0.5% | 0.1% | ||
| Q3 25 | 1.1% | 101.1% | ||
| Q2 25 | 0.9% | 440.0% | ||
| Q1 25 | 0.4% | 4507.1% | ||
| Q4 24 | 0.9% | 378600.0% | ||
| Q3 24 | 1.1% | 59266.7% | ||
| Q2 24 | 2.9% | 6980.0% | ||
| Q1 24 | 7.8% | 2535.7% |
| Q4 25 | — | 1.47× | ||
| Q3 25 | — | — | ||
| 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
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
FDMT
Segment breakdown not available.
