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Side-by-side financial comparison of ARROW FINANCIAL CORP (AROW) and BICYCLE THERAPEUTICS PLC (BCYC). Click either name above to swap in a different company.

BICYCLE THERAPEUTICS PLC is the larger business by last-quarter revenue ($48.0M vs $35.0M, roughly 1.4× ARROW FINANCIAL CORP). ARROW FINANCIAL CORP runs the higher net margin — 24.6% vs -42.0%, a 66.6% gap on every dollar of revenue. On growth, BICYCLE THERAPEUTICS PLC posted the faster year-over-year revenue change (1193.3% vs 7.1%). ARROW FINANCIAL CORP produced more free cash flow last quarter ($7.5M vs $-19.9M). Over the past eight quarters, BICYCLE THERAPEUTICS PLC's revenue compounded faster (56.7% CAGR vs 6.4%).

Flagstar Bank, N.A. (FLG), is an American regional financial services holding company headquartered in Hicksville, New York. In 2023, the bank operated 395 branches However, they rebranded all of these under the Flagstar name on February 21, 2024.

Bicycle Therapeutics PLC is a clinical-stage biopharmaceutical firm developing innovative bicyclic peptide therapies for unmet medical needs. Its core pipeline covers oncology, rare diseases, and immunological disorders, with operations in Europe and North America, and partnerships with global pharma leaders to advance drug candidates to market.

AROW vs BCYC — Head-to-Head

Bigger by revenue
BCYC
BCYC
1.4× larger
BCYC
$48.0M
$35.0M
AROW
Growing faster (revenue YoY)
BCYC
BCYC
+1186.2% gap
BCYC
1193.3%
7.1%
AROW
Higher net margin
AROW
AROW
66.6% more per $
AROW
24.6%
-42.0%
BCYC
More free cash flow
AROW
AROW
$27.4M more FCF
AROW
$7.5M
$-19.9M
BCYC
Faster 2-yr revenue CAGR
BCYC
BCYC
Annualised
BCYC
56.7%
6.4%
AROW

Income Statement — Q2 FY2024 vs Q4 FY2025

Metric
AROW
AROW
BCYC
BCYC
Revenue
$35.0M
$48.0M
Net Profit
$8.6M
$-20.2M
Gross Margin
Operating Margin
-51.5%
Net Margin
24.6%
-42.0%
Revenue YoY
7.1%
1193.3%
Net Profit YoY
42.3%
61.1%
EPS (diluted)
$0.52
$-0.29

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
AROW
AROW
BCYC
BCYC
Q4 25
$48.0M
Q3 25
$11.7M
Q2 25
$2.9M
Q1 25
$10.0M
Q4 24
$3.7M
Q3 24
$2.7M
Q2 24
$35.0M
$9.4M
Q1 24
$34.3M
$19.5M
Net Profit
AROW
AROW
BCYC
BCYC
Q4 25
$-20.2M
Q3 25
$-59.1M
Q2 25
$-79.0M
Q1 25
$-60.8M
Q4 24
Q3 24
$-50.8M
Q2 24
$8.6M
$-39.8M
Q1 24
$7.7M
$-26.6M
Operating Margin
AROW
AROW
BCYC
BCYC
Q4 25
-51.5%
Q3 25
-558.6%
Q2 25
-2965.8%
Q1 25
-703.7%
Q4 24
Q3 24
-2385.9%
Q2 24
-498.3%
Q1 24
-162.4%
Net Margin
AROW
AROW
BCYC
BCYC
Q4 25
-42.0%
Q3 25
-503.7%
Q2 25
-2703.8%
Q1 25
-608.9%
Q4 24
Q3 24
-1898.4%
Q2 24
24.6%
-425.3%
Q1 24
22.3%
-136.0%
EPS (diluted)
AROW
AROW
BCYC
BCYC
Q4 25
$-0.29
Q3 25
$-0.85
Q2 25
$-1.14
Q1 25
$-0.88
Q4 24
Q3 24
$-0.74
Q2 24
$0.52
$-0.77
Q1 24
$0.45
$-0.62

Balance Sheet & Financial Strength

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

Metric
AROW
AROW
BCYC
BCYC
Cash + ST InvestmentsLiquidity on hand
$628.1M
Total DebtLower is stronger
Stockholders' EquityBook value
$383.0M
$610.0M
Total Assets
$4.2B
$717.6M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AROW
AROW
BCYC
BCYC
Q4 25
$628.1M
Q3 25
$648.3M
Q2 25
$721.5M
Q1 25
$793.0M
Q4 24
$879.5M
Q3 24
$890.9M
Q2 24
$961.4M
Q1 24
$457.0M
Total Debt
AROW
AROW
BCYC
BCYC
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
$30.9M
Q1 24
$30.8M
Stockholders' Equity
AROW
AROW
BCYC
BCYC
Q4 25
$610.0M
Q3 25
$618.5M
Q2 25
$668.9M
Q1 25
$740.3M
Q4 24
$793.1M
Q3 24
$831.0M
Q2 24
$383.0M
$873.8M
Q1 24
$378.0M
$356.0M
Total Assets
AROW
AROW
BCYC
BCYC
Q4 25
$717.6M
Q3 25
$764.0M
Q2 25
$832.2M
Q1 25
$883.9M
Q4 24
$956.9M
Q3 24
$996.7M
Q2 24
$4.2B
$1.1B
Q1 24
$4.3B
$547.1M
Debt / Equity
AROW
AROW
BCYC
BCYC
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
0.04×
Q1 24
0.09×

Cash Flow & Capital Efficiency

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

Metric
AROW
AROW
BCYC
BCYC
Operating Cash FlowLast quarter
$9.1M
$-19.3M
Free Cash FlowOCF − Capex
$7.5M
$-19.9M
FCF MarginFCF / Revenue
21.5%
-41.5%
Capex IntensityCapex / Revenue
4.5%
1.2%
Cash ConversionOCF / Net Profit
1.06×
TTM Free Cash FlowTrailing 4 quarters
$9.6M
$-252.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AROW
AROW
BCYC
BCYC
Q4 25
$-19.3M
Q3 25
$-71.2M
Q2 25
$-72.8M
Q1 25
$-86.4M
Q4 24
$-164.7M
Q3 24
$-39.8M
Q2 24
$9.1M
$-44.6M
Q1 24
$10.3M
$-70.9M
Free Cash Flow
AROW
AROW
BCYC
BCYC
Q4 25
$-19.9M
Q3 25
$-71.8M
Q2 25
$-73.3M
Q1 25
$-87.0M
Q4 24
$-166.0M
Q3 24
$-40.3M
Q2 24
$7.5M
$-45.0M
Q1 24
$9.2M
$-70.9M
FCF Margin
AROW
AROW
BCYC
BCYC
Q4 25
-41.5%
Q3 25
-612.3%
Q2 25
-2509.7%
Q1 25
-871.7%
Q4 24
-4475.7%
Q3 24
-1504.7%
Q2 24
21.5%
-481.2%
Q1 24
26.8%
-362.9%
Capex Intensity
AROW
AROW
BCYC
BCYC
Q4 25
1.2%
Q3 25
5.7%
Q2 25
17.1%
Q1 25
6.1%
Q4 24
33.3%
Q3 24
16.3%
Q2 24
4.5%
4.5%
Q1 24
3.4%
0.1%
Cash Conversion
AROW
AROW
BCYC
BCYC
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
1.06×
Q1 24
1.35×

Financial Flow Comparison

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

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