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Side-by-side financial comparison of Solowin Holdings, Ltd. (AXG) and Humacyte, Inc. (HUMA). Click either name above to swap in a different company.
Humacyte, Inc. is the larger business by last-quarter revenue ($467.0K vs $410.0K, roughly 1.1× Solowin Holdings, Ltd.). Solowin Holdings, Ltd. produced more free cash flow last quarter ($-1.6M vs $-26.2M).
Humacyte, Inc. is a clinical-stage biotechnology firm focused on developing and commercializing universally implantable off-the-shelf bioengineered human tissues and therapeutic products. Its core offerings target unmet needs in vascular care, trauma treatment and regenerative medicine, serving patients and healthcare partners worldwide.
AXG vs HUMA — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $410.0K | $467.0K |
| Net Profit | — | — |
| Gross Margin | — | -1844.8% |
| Operating Margin | -34.1% | -6603.0% |
| Net Margin | — | — |
| Revenue YoY | — | — |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $-0.19 |
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 | — | $467.0K | ||
| Q3 25 | — | $753.0K | ||
| Q2 25 | — | $301.0K | ||
| Q1 25 | — | $517.0K | ||
| Q3 24 | $410.0K | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $0 |
| Q4 25 | — | — | ||
| Q3 25 | — | $-17.5M | ||
| Q2 25 | — | $-37.7M | ||
| Q1 25 | — | $39.1M | ||
| Q3 24 | — | $-39.2M | ||
| Q2 24 | — | $-56.7M | ||
| Q1 24 | — | $-31.9M |
| Q4 25 | — | -1844.8% | ||
| Q3 25 | — | 65.5% | ||
| Q2 25 | — | 29.2% | ||
| Q1 25 | — | 71.6% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -6603.0% | ||
| Q3 25 | — | -3239.0% | ||
| Q2 25 | — | -9876.1% | ||
| Q1 25 | — | -4484.3% | ||
| Q3 24 | -34.1% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -2325.4% | ||
| Q2 25 | — | -12511.0% | ||
| Q1 25 | — | 7570.4% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $-0.19 | ||
| Q3 25 | — | $-0.11 | ||
| Q2 25 | — | $-0.24 | ||
| Q1 25 | — | $0.28 | ||
| Q3 24 | — | $-0.33 | ||
| Q2 24 | — | $-0.48 | ||
| Q1 24 | — | $-0.29 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.5M | $50.5M |
| Total DebtLower is stronger | — | $35.4M |
| Stockholders' EquityBook value | $6.0M | $3.1M |
| Total Assets | $13.1M | $116.4M |
| Debt / EquityLower = less leverage | — | 11.40× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $50.5M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $38.0M | ||
| Q1 25 | — | $62.8M | ||
| Q3 24 | $2.5M | $20.6M | ||
| Q2 24 | — | $93.6M | ||
| Q1 24 | — | $115.5M |
| Q4 25 | — | $35.4M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $3.1M | ||
| Q3 25 | — | $-4.8M | ||
| Q2 25 | — | $4.1M | ||
| Q1 25 | — | $36.0M | ||
| Q3 24 | $6.0M | $-63.7M | ||
| Q2 24 | — | $-28.3M | ||
| Q1 24 | — | $26.2M |
| Q4 25 | — | $116.4M | ||
| Q3 25 | — | $91.5M | ||
| Q2 25 | — | $138.8M | ||
| Q1 25 | — | $162.6M | ||
| Q3 24 | $13.1M | $114.8M | ||
| Q2 24 | — | $138.3M | ||
| Q1 24 | — | $161.5M |
| Q4 25 | — | 11.40× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-1.6M | $-26.1M |
| Free Cash FlowOCF − Capex | $-1.6M | $-26.2M |
| FCF MarginFCF / Revenue | -392.9% | -5602.4% |
| Capex IntensityCapex / Revenue | 4.4% | 8.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-105.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-26.1M | ||
| Q3 25 | — | $-23.9M | ||
| Q2 25 | — | $-26.4M | ||
| Q1 25 | — | $-28.6M | ||
| Q3 24 | $-1.6M | $-22.9M | ||
| Q2 24 | — | $-21.3M | ||
| Q1 24 | — | $-27.3M |
| Q4 25 | — | $-26.2M | ||
| Q3 25 | — | $-24.0M | ||
| Q2 25 | — | $-27.0M | ||
| Q1 25 | — | $-28.8M | ||
| Q3 24 | $-1.6M | $-23.8M | ||
| Q2 24 | — | $-21.5M | ||
| Q1 24 | — | $-27.7M |
| Q4 25 | — | -5602.4% | ||
| Q3 25 | — | -3181.0% | ||
| Q2 25 | — | -8963.8% | ||
| Q1 25 | — | -5576.2% | ||
| Q3 24 | -392.9% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 8.4% | ||
| Q3 25 | — | 6.5% | ||
| Q2 25 | — | 188.7% | ||
| Q1 25 | — | 44.1% | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.73× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
