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Side-by-side financial comparison of Solowin Holdings, Ltd. (AXG) and PULSE BIOSCIENCES, INC. (PLSE). Click either name above to swap in a different company.

Solowin Holdings, Ltd. is the larger business by last-quarter revenue ($410.0K vs $264.0K, roughly 1.6× PULSE BIOSCIENCES, INC.). Solowin Holdings, Ltd. produced more free cash flow last quarter ($-1.6M vs $-14.9M).

Colossal Biosciences Inc. is an American biotechnology and genetic engineering company working to de-extinct several extinct animals, including the woolly mammoth, the Tasmanian tiger, the northern white rhinoceros, the dire wolf, the dodo, and the moa. In 2023, it stated that it wants to have woolly mammoth hybrid calves by 2028, and wants to reintroduce them to the Arctic tundra habitat. Likewise, it launched the Tasmanian Thylacine Advisory Committee, a thylacine research project to releas...

AXG vs PLSE — Head-to-Head

Bigger by revenue
AXG
AXG
1.6× larger
AXG
$410.0K
$264.0K
PLSE
More free cash flow
AXG
AXG
$13.2M more FCF
AXG
$-1.6M
$-14.9M
PLSE

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
AXG
AXG
PLSE
PLSE
Revenue
$410.0K
$264.0K
Net Profit
$-17.4M
Gross Margin
Operating Margin
-34.1%
-6914.0%
Net Margin
-6603.4%
Revenue YoY
Net Profit YoY
10.1%
EPS (diluted)

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
AXG
AXG
PLSE
PLSE
Q4 25
$264.0K
Q3 25
$86.0K
Q2 25
$0
Q1 25
$0
Q4 24
$0
Q3 24
$410.0K
$0
Q2 24
$0
Q1 24
$0
Net Profit
AXG
AXG
PLSE
PLSE
Q4 25
$-17.4M
Q3 25
$-19.4M
Q2 25
$-19.2M
Q1 25
$-16.8M
Q4 24
$-19.4M
Q3 24
$-12.7M
Q2 24
$-11.4M
Q1 24
$-10.1M
Gross Margin
AXG
AXG
PLSE
PLSE
Q4 25
Q3 25
-224.4%
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Operating Margin
AXG
AXG
PLSE
PLSE
Q4 25
-6914.0%
Q3 25
-23682.6%
Q2 25
Q1 25
Q4 24
Q3 24
-34.1%
Q2 24
Q1 24
Net Margin
AXG
AXG
PLSE
PLSE
Q4 25
-6603.4%
Q3 25
-22540.7%
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Balance Sheet & Financial Strength

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

Metric
AXG
AXG
PLSE
PLSE
Cash + ST InvestmentsLiquidity on hand
$2.5M
$80.7M
Total DebtLower is stronger
Stockholders' EquityBook value
$6.0M
$80.7M
Total Assets
$13.1M
$94.5M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AXG
AXG
PLSE
PLSE
Q4 25
$80.7M
Q3 25
$95.2M
Q2 25
$106.3M
Q1 25
$119.3M
Q4 24
$118.0M
Q3 24
$2.5M
$79.0M
Q2 24
$26.2M
Q1 24
$34.9M
Stockholders' Equity
AXG
AXG
PLSE
PLSE
Q4 25
$80.7M
Q3 25
$92.7M
Q2 25
$104.5M
Q1 25
$118.5M
Q4 24
$114.9M
Q3 24
$6.0M
$79.1M
Q2 24
$27.0M
Q1 24
$36.3M
Total Assets
AXG
AXG
PLSE
PLSE
Q4 25
$94.5M
Q3 25
$108.8M
Q2 25
$120.3M
Q1 25
$133.4M
Q4 24
$132.5M
Q3 24
$13.1M
$93.0M
Q2 24
$40.4M
Q1 24
$49.2M

Cash Flow & Capital Efficiency

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

Metric
AXG
AXG
PLSE
PLSE
Operating Cash FlowLast quarter
$-1.6M
$-14.8M
Free Cash FlowOCF − Capex
$-1.6M
$-14.9M
FCF MarginFCF / Revenue
-392.9%
-5628.8%
Capex IntensityCapex / Revenue
4.4%
39.8%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-54.4M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AXG
AXG
PLSE
PLSE
Q4 25
$-14.8M
Q3 25
$-13.0M
Q2 25
$-12.8M
Q1 25
$-13.5M
Q4 24
$-9.1M
Q3 24
$-1.6M
$-9.0M
Q2 24
$-8.4M
Q1 24
$-9.8M
Free Cash Flow
AXG
AXG
PLSE
PLSE
Q4 25
$-14.9M
Q3 25
$-13.1M
Q2 25
$-12.9M
Q1 25
$-13.6M
Q4 24
$-9.2M
Q3 24
$-1.6M
$-9.1M
Q2 24
$-8.4M
Q1 24
$-9.8M
FCF Margin
AXG
AXG
PLSE
PLSE
Q4 25
-5628.8%
Q3 25
-15233.7%
Q2 25
Q1 25
Q4 24
Q3 24
-392.9%
Q2 24
Q1 24
Capex Intensity
AXG
AXG
PLSE
PLSE
Q4 25
39.8%
Q3 25
72.1%
Q2 25
Q1 25
Q4 24
Q3 24
4.4%
Q2 24
Q1 24

Financial Flow Comparison

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

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