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Side-by-side financial comparison of Aether Holdings, Inc. (ATHR) and Vir Biotechnology, Inc. (VIR). Click either name above to swap in a different company.

Aether Holdings, Inc. is the larger business by last-quarter revenue ($338.8K vs $240.0K, roughly 1.4× Vir Biotechnology, Inc.). Aether Holdings, Inc. runs the higher net margin — -382.9% vs -67975.4%, a 67592.5% gap on every dollar of revenue. On growth, Aether Holdings, Inc. posted the faster year-over-year revenue change (-0.9% vs -89.9%). Aether Holdings, Inc. produced more free cash flow last quarter ($-2.2M vs $-167.9M).

Aether Industries Limited is an Indian chemical manufacturing company based in Surat, Gujarat. The company specializes in producing advanced intermediates and specialty chemicals for various industries, including pharmaceuticals, agrochemicals, material sciences, and oil and gas.

Vir Biotechnology, Inc. is a clinical-stage immunology company focused on developing innovative therapies and vaccines to address serious infectious diseases including COVID-19, hepatitis B, HIV, and influenza. It operates primarily in the global biopharmaceutical market, collaborating with leading industry partners to advance its pipeline of targeted immune-based solutions for patient populations worldwide.

ATHR vs VIR — Head-to-Head

Bigger by revenue
ATHR
ATHR
1.4× larger
ATHR
$338.8K
$240.0K
VIR
Growing faster (revenue YoY)
ATHR
ATHR
+89.0% gap
ATHR
-0.9%
-89.9%
VIR
Higher net margin
ATHR
ATHR
67592.5% more per $
ATHR
-382.9%
-67975.4%
VIR
More free cash flow
ATHR
ATHR
$165.7M more FCF
ATHR
$-2.2M
$-167.9M
VIR

Income Statement — Q1 FY2026 vs Q3 FY2025

Metric
ATHR
ATHR
VIR
VIR
Revenue
$338.8K
$240.0K
Net Profit
$-1.3M
$-163.1M
Gross Margin
80.4%
Operating Margin
-382.9%
-72267.9%
Net Margin
-382.9%
-67975.4%
Revenue YoY
-0.9%
-89.9%
Net Profit YoY
-232.5%
23.7%
EPS (diluted)
$-0.11
$-1.17

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
ATHR
ATHR
VIR
VIR
Q4 25
$338.8K
Q3 25
$240.0K
Q2 25
$342.4K
$1.2M
Q1 25
$341.9K
$3.0M
Q4 24
$12.4M
Q3 24
$2.4M
Q2 24
$3.1M
Q1 24
$56.4M
Net Profit
ATHR
ATHR
VIR
VIR
Q4 25
$-1.3M
Q3 25
$-163.1M
Q2 25
$-1.0M
$-111.0M
Q1 25
$-427.4K
$-121.0M
Q4 24
Q3 24
$-213.7M
Q2 24
$-138.4M
Q1 24
$-65.3M
Gross Margin
ATHR
ATHR
VIR
VIR
Q4 25
80.4%
Q3 25
Q2 25
69.9%
99.1%
Q1 25
67.9%
Q4 24
Q3 24
97.9%
Q2 24
98.3%
Q1 24
99.9%
Operating Margin
ATHR
ATHR
VIR
VIR
Q4 25
-382.9%
Q3 25
-72267.9%
Q2 25
-293.7%
-9754.3%
Q1 25
-112.6%
-4602.5%
Q4 24
Q3 24
-9718.7%
Q2 24
-5158.7%
Q1 24
-142.0%
Net Margin
ATHR
ATHR
VIR
VIR
Q4 25
-382.9%
Q3 25
-67975.4%
Q2 25
-293.7%
-9139.9%
Q1 25
-125.0%
-3989.6%
Q4 24
Q3 24
-8979.7%
Q2 24
-4500.1%
Q1 24
-115.8%
EPS (diluted)
ATHR
ATHR
VIR
VIR
Q4 25
$-0.11
Q3 25
$-1.17
Q2 25
$-0.08
$-0.80
Q1 25
$-0.04
$-0.88
Q4 24
Q3 24
$-1.56
Q2 24
$-1.02
Q1 24
$-0.48

Balance Sheet & Financial Strength

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

Metric
ATHR
ATHR
VIR
VIR
Cash + ST InvestmentsLiquidity on hand
$263.3K
$497.8M
Total DebtLower is stronger
Stockholders' EquityBook value
$3.4M
$796.1M
Total Assets
$4.0M
$1.0B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ATHR
ATHR
VIR
VIR
Q4 25
$263.3K
Q3 25
$497.8M
Q2 25
$187.4K
$598.7M
Q1 25
$179.2K
$790.9M
Q4 24
$901.0M
Q3 24
$909.0M
Q2 24
$1.1B
Q1 24
$1.1B
Stockholders' Equity
ATHR
ATHR
VIR
VIR
Q4 25
$3.4M
Q3 25
$796.1M
Q2 25
$5.9M
$947.5M
Q1 25
$-596.3K
$1.0B
Q4 24
$1.2B
Q3 24
$1.2B
Q2 24
$1.4B
Q1 24
$1.5B
Total Assets
ATHR
ATHR
VIR
VIR
Q4 25
$4.0M
Q3 25
$1.0B
Q2 25
$6.5M
$1.2B
Q1 25
$367.8K
$1.3B
Q4 24
$1.4B
Q3 24
$1.5B
Q2 24
$1.7B
Q1 24
$1.8B

Cash Flow & Capital Efficiency

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

Metric
ATHR
ATHR
VIR
VIR
Operating Cash FlowLast quarter
$-1.0M
$-167.6M
Free Cash FlowOCF − Capex
$-2.2M
$-167.9M
FCF MarginFCF / Revenue
-642.5%
-69952.9%
Capex IntensityCapex / Revenue
344.9%
132.1%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-824.0M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ATHR
ATHR
VIR
VIR
Q4 25
$-1.0M
Q3 25
$-167.6M
Q2 25
$-2.0M
$-120.2M
Q1 25
$-78.1M
Q4 24
$-446.4M
Q3 24
$-171.5M
Q2 24
$-77.8M
Q1 24
$-109.4M
Free Cash Flow
ATHR
ATHR
VIR
VIR
Q4 25
$-2.2M
Q3 25
$-167.9M
Q2 25
$-122.8M
Q1 25
$-79.7M
Q4 24
$-453.7M
Q3 24
$-174.2M
Q2 24
$-78.5M
Q1 24
$-111.3M
FCF Margin
ATHR
ATHR
VIR
VIR
Q4 25
-642.5%
Q3 25
-69952.9%
Q2 25
-10111.8%
Q1 25
-2630.1%
Q4 24
-3666.2%
Q3 24
-7321.3%
Q2 24
-2553.3%
Q1 24
-197.4%
Capex Intensity
ATHR
ATHR
VIR
VIR
Q4 25
344.9%
Q3 25
132.1%
Q2 25
209.1%
Q1 25
53.7%
Q4 24
59.0%
Q3 24
116.3%
Q2 24
21.7%
Q1 24
3.3%

Financial Flow Comparison

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

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