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Side-by-side financial comparison of Aether Holdings, Inc. (ATHR) and Vistagen Therapeutics, Inc. (VTGN). Click either name above to swap in a different company.
Aether Holdings, Inc. is the larger business by last-quarter revenue ($338.8K vs $303.0K, roughly 1.1× Vistagen Therapeutics, Inc.). Aether Holdings, Inc. runs the higher net margin — -382.9% vs -6237.3%, a 5854.4% gap on every dollar of revenue. On growth, Vistagen Therapeutics, Inc. posted the faster year-over-year revenue change (29.5% vs -0.9%).
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.
Vistagen Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative treatments for mental health and central nervous system disorders including anxiety and depression. It primarily targets North American and global markets, advancing multiple drug candidates through clinical development stages to address unmet patient medical needs.
ATHR vs VTGN — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $338.8K | $303.0K |
| Net Profit | $-1.3M | $-18.9M |
| Gross Margin | 80.4% | — |
| Operating Margin | -382.9% | -6450.8% |
| Net Margin | -382.9% | -6237.3% |
| Revenue YoY | -0.9% | 29.5% |
| Net Profit YoY | -232.5% | -34.1% |
| EPS (diluted) | $-0.11 | $-0.45 |
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 | $338.8K | $303.0K | ||
| Q3 25 | — | $258.0K | ||
| Q2 25 | $342.4K | $244.0K | ||
| Q1 25 | $341.9K | $-15.0K | ||
| Q4 24 | — | $234.0K | ||
| Q3 24 | — | $183.0K | ||
| Q2 24 | — | $84.0K | ||
| Q1 24 | — | $198.0K |
| Q4 25 | $-1.3M | $-18.9M | ||
| Q3 25 | — | $-19.4M | ||
| Q2 25 | $-1.0M | $-15.1M | ||
| Q1 25 | $-427.4K | $-13.6M | ||
| Q4 24 | — | $-14.1M | ||
| Q3 24 | — | $-13.0M | ||
| Q2 24 | — | $-10.7M | ||
| Q1 24 | — | $-9.5M |
| Q4 25 | 80.4% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 69.9% | — | ||
| Q1 25 | 67.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -382.9% | -6450.8% | ||
| Q3 25 | — | -7772.5% | ||
| Q2 25 | -293.7% | -6477.0% | ||
| Q1 25 | -112.6% | 96633.3% | ||
| Q4 24 | — | -6461.5% | ||
| Q3 24 | — | -7774.3% | ||
| Q2 24 | — | -14441.7% | ||
| Q1 24 | — | -5736.9% |
| Q4 25 | -382.9% | -6237.3% | ||
| Q3 25 | — | -7526.0% | ||
| Q2 25 | -293.7% | -6186.5% | ||
| Q1 25 | -125.0% | 90900.0% | ||
| Q4 24 | — | -6020.9% | ||
| Q3 24 | — | -7082.5% | ||
| Q2 24 | — | -12777.4% | ||
| Q1 24 | — | -4808.6% |
| Q4 25 | $-0.11 | $-0.45 | ||
| Q3 25 | — | $-0.54 | ||
| Q2 25 | $-0.08 | $-0.47 | ||
| Q1 25 | $-0.04 | $-0.44 | ||
| Q4 24 | — | $-0.46 | ||
| Q3 24 | — | $-0.42 | ||
| Q2 24 | — | $-0.35 | ||
| Q1 24 | — | $0.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $263.3K | $47.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.4M | $50.9M |
| Total Assets | $4.0M | $65.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $263.3K | $47.4M | ||
| Q3 25 | — | $62.8M | ||
| Q2 25 | $187.4K | $49.0M | ||
| Q1 25 | $179.2K | $67.1M | ||
| Q4 24 | — | $74.7M | ||
| Q3 24 | — | $84.2M | ||
| Q2 24 | — | $102.9M | ||
| Q1 24 | — | $119.2M |
| Q4 25 | $3.4M | $50.9M | ||
| Q3 25 | — | $66.3M | ||
| Q2 25 | $5.9M | $56.8M | ||
| Q1 25 | $-596.3K | $70.4M | ||
| Q4 24 | — | $81.1M | ||
| Q3 24 | — | $93.0M | ||
| Q2 24 | — | $104.8M | ||
| Q1 24 | — | $114.3M |
| Q4 25 | $4.0M | $65.1M | ||
| Q3 25 | — | $80.9M | ||
| Q2 25 | $6.5M | $68.9M | ||
| Q1 25 | $367.8K | $84.3M | ||
| Q4 24 | — | $92.3M | ||
| Q3 24 | — | $102.5M | ||
| Q2 24 | — | $113.5M | ||
| Q1 24 | — | $123.7M |
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 | $-1.0M | $-17.6M |
| Free Cash FlowOCF − Capex | $-2.2M | — |
| FCF MarginFCF / Revenue | -642.5% | — |
| Capex IntensityCapex / Revenue | 344.9% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.0M | $-17.6M | ||
| Q3 25 | — | $-13.8M | ||
| Q2 25 | $-2.0M | $-18.8M | ||
| Q1 25 | — | $-10.1M | ||
| Q4 24 | — | $-10.3M | ||
| Q3 24 | — | $-10.9M | ||
| Q2 24 | — | $-10.9M | ||
| Q1 24 | — | $-7.0M |
| Q4 25 | $-2.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -642.5% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 344.9% | — | ||
| 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.
