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

PALVELLA THERAPEUTICS, INC. is the larger business by last-quarter revenue ($520.0K vs $410.0K, roughly 1.3× Solowin Holdings, Ltd.).

Palvella Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing targeted therapies for rare, debilitating genetic diseases with high unmet medical needs. Its lead product candidates address congenital disorders, serving global patient populations that lack effective existing treatment options.

AXG vs PVLA — Head-to-Head

Bigger by revenue
PVLA
PVLA
1.3× larger
PVLA
$520.0K
$410.0K
AXG

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
AXG
AXG
PVLA
PVLA
Revenue
$410.0K
$520.0K
Net Profit
Gross Margin
Operating Margin
-34.1%
Net Margin
Revenue YoY
14.3%
Net Profit YoY
-221.8%
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
PVLA
PVLA
Q4 25
$520.0K
Q3 25
$628.0K
Q2 25
$690.0K
Q1 25
$752.0K
Q3 24
$410.0K
$0
Q2 24
$0
Q1 24
$53.0K
Q4 23
$1.3M
Net Profit
AXG
AXG
PVLA
PVLA
Q4 25
Q3 25
$-11.3M
Q2 25
$-9.5M
Q1 25
$-8.2M
Q3 24
$-6.8M
Q2 24
$-4.2M
Q1 24
$-2.5M
Q4 23
Operating Margin
AXG
AXG
PVLA
PVLA
Q4 25
Q3 25
-1620.5%
Q2 25
-1340.6%
Q1 25
-1046.7%
Q3 24
-34.1%
Q2 24
Q1 24
-3318.9%
Q4 23
Net Margin
AXG
AXG
PVLA
PVLA
Q4 25
Q3 25
-1806.5%
Q2 25
-1372.6%
Q1 25
-1088.4%
Q3 24
Q2 24
Q1 24
-4784.9%
Q4 23
EPS (diluted)
AXG
AXG
PVLA
PVLA
Q4 25
Q3 25
$-1.03
Q2 25
$-0.86
Q1 25
$-0.74
Q3 24
$-3.94
Q2 24
$-2.47
Q1 24
$-1.54
Q4 23

Balance Sheet & Financial Strength

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

Metric
AXG
AXG
PVLA
PVLA
Cash + ST InvestmentsLiquidity on hand
$2.5M
$58.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$6.0M
$28.0M
Total Assets
$13.1M
$59.6M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AXG
AXG
PVLA
PVLA
Q4 25
$58.0M
Q3 25
$63.6M
Q2 25
$70.4M
Q1 25
$75.6M
Q3 24
$2.5M
$19.4M
Q2 24
$19.7M
Q1 24
$19.1M
Q4 23
$16.3M
Stockholders' Equity
AXG
AXG
PVLA
PVLA
Q4 25
$28.0M
Q3 25
$38.7M
Q2 25
$47.8M
Q1 25
$55.6M
Q3 24
$6.0M
$-87.4M
Q2 24
$-80.8M
Q1 24
$-76.9M
Q4 23
$-74.5M
Total Assets
AXG
AXG
PVLA
PVLA
Q4 25
$59.6M
Q3 25
$66.9M
Q2 25
$73.7M
Q1 25
$79.4M
Q3 24
$13.1M
$20.5M
Q2 24
$25.1M
Q1 24
$29.5M
Q4 23
$7.5M

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
PVLA
PVLA
Operating Cash FlowLast quarter
$-1.6M
$-25.0M
Free Cash FlowOCF − Capex
$-1.6M
FCF MarginFCF / Revenue
-392.9%
Capex IntensityCapex / Revenue
4.4%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AXG
AXG
PVLA
PVLA
Q4 25
$-25.0M
Q3 25
$-7.9M
Q2 25
$-5.4M
Q1 25
$-6.8M
Q3 24
$-1.6M
$-2.7M
Q2 24
$-1.6M
Q1 24
$-1.1M
Q4 23
$-13.7M
Free Cash Flow
AXG
AXG
PVLA
PVLA
Q4 25
Q3 25
Q2 25
Q1 25
Q3 24
$-1.6M
Q2 24
Q1 24
Q4 23
$-13.9M
FCF Margin
AXG
AXG
PVLA
PVLA
Q4 25
Q3 25
Q2 25
Q1 25
Q3 24
-392.9%
Q2 24
Q1 24
Q4 23
-1068.1%
Capex Intensity
AXG
AXG
PVLA
PVLA
Q4 25
Q3 25
Q2 25
Q1 25
Q3 24
4.4%
Q2 24
Q1 24
0.0%
Q4 23
13.2%

Financial Flow Comparison

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

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