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Side-by-side financial comparison of Antero Midstream Corp (AM) and BIOCRYST PHARMACEUTICALS INC (BCRX). Click either name above to swap in a different company.

BIOCRYST PHARMACEUTICALS INC is the larger business by last-quarter revenue ($406.6M vs $291.1M, roughly 1.4× Antero Midstream Corp). BIOCRYST PHARMACEUTICALS INC runs the higher net margin — 60.5% vs 41.5%, a 19.0% gap on every dollar of revenue. On growth, BIOCRYST PHARMACEUTICALS INC posted the faster year-over-year revenue change (209.1% vs -7.3%). BIOCRYST PHARMACEUTICALS INC produced more free cash flow last quarter ($291.2M vs $186.9M). Over the past eight quarters, BIOCRYST PHARMACEUTICALS INC's revenue compounded faster (109.4% CAGR vs 3.9%).

Antero Resources Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware and headquartered in Denver, Colorado. The company's reserves are entirely in the Appalachian Basin and are extracted using hydraulic fracturing.

BioCryst Pharmaceuticals, Inc. is an American pharmaceutical company headquartered in Durham, North Carolina. The company is a late stage biotech company that focuses on oral drugs for rare and serious diseases. BioCryst's antiviral drug peramivir (Rapivab) was approved by FDA in December 2014. It has also been approved in Japan, Korea, and China.

AM vs BCRX — Head-to-Head

Bigger by revenue
BCRX
BCRX
1.4× larger
BCRX
$406.6M
$291.1M
AM
Growing faster (revenue YoY)
BCRX
BCRX
+216.4% gap
BCRX
209.1%
-7.3%
AM
Higher net margin
BCRX
BCRX
19.0% more per $
BCRX
60.5%
41.5%
AM
More free cash flow
BCRX
BCRX
$104.3M more FCF
BCRX
$291.2M
$186.9M
AM
Faster 2-yr revenue CAGR
BCRX
BCRX
Annualised
BCRX
109.4%
3.9%
AM

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
AM
AM
BCRX
BCRX
Revenue
$291.1M
$406.6M
Net Profit
$120.7M
$245.8M
Gross Margin
97.7%
Operating Margin
60.9%
64.0%
Net Margin
41.5%
60.5%
Revenue YoY
-7.3%
209.1%
Net Profit YoY
2.1%
1017.5%
EPS (diluted)
$0.25
$1.13

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.

Revenue
AM
AM
BCRX
BCRX
Q1 26
$291.1M
Q4 25
$297.0M
$406.6M
Q3 25
$294.8M
$159.4M
Q2 25
$305.5M
$163.4M
Q1 25
$291.1M
$145.5M
Q4 24
$287.5M
$131.5M
Q3 24
$269.9M
$117.1M
Q2 24
$269.8M
$109.3M
Net Profit
AM
AM
BCRX
BCRX
Q1 26
$120.7M
Q4 25
$51.9M
$245.8M
Q3 25
$116.0M
$12.9M
Q2 25
$124.5M
$5.1M
Q1 25
$120.7M
$32.0K
Q4 24
$111.2M
$-26.8M
Q3 24
$99.7M
$-14.0M
Q2 24
$86.0M
$-12.7M
Gross Margin
AM
AM
BCRX
BCRX
Q1 26
Q4 25
97.7%
Q3 25
98.6%
Q2 25
98.3%
Q1 25
96.9%
Q4 24
95.4%
Q3 24
97.3%
Q2 24
98.4%
Operating Margin
AM
AM
BCRX
BCRX
Q1 26
60.9%
Q4 25
33.8%
64.0%
Q3 25
61.2%
18.6%
Q2 25
61.0%
18.2%
Q1 25
60.9%
14.6%
Q4 24
61.8%
-3.4%
Q3 24
60.2%
6.6%
Q2 24
56.6%
8.0%
Net Margin
AM
AM
BCRX
BCRX
Q1 26
41.5%
Q4 25
17.5%
60.5%
Q3 25
39.3%
8.1%
Q2 25
40.8%
3.1%
Q1 25
41.5%
0.0%
Q4 24
38.7%
-20.4%
Q3 24
37.0%
-12.0%
Q2 24
31.9%
-11.6%
EPS (diluted)
AM
AM
BCRX
BCRX
Q1 26
$0.25
Q4 25
$0.11
$1.13
Q3 25
$0.24
$0.06
Q2 25
$0.26
$0.02
Q1 25
$0.25
$0.00
Q4 24
$0.23
$-0.13
Q3 24
$0.21
$-0.07
Q2 24
$0.18
$-0.06

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AM
AM
BCRX
BCRX
Cash + ST InvestmentsLiquidity on hand
$180.4M
$274.7M
Total DebtLower is stronger
$3.2B
Stockholders' EquityBook value
$2.0B
$-119.2M
Total Assets
$5.9B
$514.2M
Debt / EquityLower = less leverage
1.63×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AM
AM
BCRX
BCRX
Q1 26
$180.4M
Q4 25
$180.4M
$274.7M
Q3 25
$212.9M
Q2 25
$260.0M
Q1 25
$295.1M
Q4 24
$320.9M
Q3 24
$96.8M
Q2 24
$78.4M
Total Debt
AM
AM
BCRX
BCRX
Q1 26
$3.2B
Q4 25
$3.2B
Q3 25
$3.0B
Q2 25
$3.0B
Q1 25
$3.1B
Q4 24
$3.1B
Q3 24
$3.2B
Q2 24
$3.2B
Stockholders' Equity
AM
AM
BCRX
BCRX
Q1 26
$2.0B
Q4 25
$2.0B
$-119.2M
Q3 25
$2.1B
$-387.9M
Q2 25
$2.1B
$-421.6M
Q1 25
$2.1B
$-451.9M
Q4 24
$2.1B
$-475.9M
Q3 24
$2.1B
$-468.6M
Q2 24
$2.1B
$-475.6M
Total Assets
AM
AM
BCRX
BCRX
Q1 26
$5.9B
Q4 25
$5.9B
$514.2M
Q3 25
$5.7B
$446.4M
Q2 25
$5.7B
$457.2M
Q1 25
$5.8B
$480.0M
Q4 24
$5.8B
$490.4M
Q3 24
$5.8B
$491.3M
Q2 24
$5.8B
$472.4M
Debt / Equity
AM
AM
BCRX
BCRX
Q1 26
1.63×
Q4 25
1.63×
Q3 25
1.46×
Q2 25
1.45×
Q1 25
1.49×
Q4 24
1.47×
Q3 24
1.49×
Q2 24
1.50×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AM
AM
BCRX
BCRX
Operating Cash FlowLast quarter
$198.9M
$292.0M
Free Cash FlowOCF − Capex
$186.9M
$291.2M
FCF MarginFCF / Revenue
64.2%
71.6%
Capex IntensityCapex / Revenue
11.1%
0.2%
Cash ConversionOCF / Net Profit
1.65×
1.19×
TTM Free Cash FlowTrailing 4 quarters
$344.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AM
AM
BCRX
BCRX
Q1 26
$198.9M
Q4 25
$255.5M
$292.0M
Q3 25
$212.8M
$41.6M
Q2 25
$265.2M
$41.3M
Q1 25
$198.9M
$-27.5M
Q4 24
$232.7M
$-5.2M
Q3 24
$184.9M
$8.2M
Q2 24
$215.8M
$-1.4M
Free Cash Flow
AM
AM
BCRX
BCRX
Q1 26
$186.9M
Q4 25
$291.2M
Q3 25
$40.3M
Q2 25
$41.1M
Q1 25
$-27.7M
Q4 24
$-5.9M
Q3 24
$184.3M
$8.2M
Q2 24
$147.2M
$-1.5M
FCF Margin
AM
AM
BCRX
BCRX
Q1 26
64.2%
Q4 25
71.6%
Q3 25
25.3%
Q2 25
25.2%
Q1 25
-19.0%
Q4 24
-4.5%
Q3 24
68.3%
7.0%
Q2 24
54.6%
-1.4%
Capex Intensity
AM
AM
BCRX
BCRX
Q1 26
11.1%
Q4 25
0.2%
Q3 25
0.8%
Q2 25
0.1%
Q1 25
0.1%
Q4 24
0.0%
0.5%
Q3 24
0.2%
0.1%
Q2 24
25.4%
0.1%
Cash Conversion
AM
AM
BCRX
BCRX
Q1 26
1.65×
Q4 25
4.92×
1.19×
Q3 25
1.84×
3.23×
Q2 25
2.13×
8.12×
Q1 25
1.65×
-859.91×
Q4 24
2.09×
Q3 24
1.85×
Q2 24
2.51×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AM
AM

Gathering and compression–Antero Resources$238.0M82%
Other$52.3M18%
Water handling–third party$505.0K0%
Gathering and compression–third party$295.0K0%

BCRX
BCRX

Segment breakdown not available.

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