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Side-by-side financial comparison of Axsome Therapeutics, Inc. (AXSM) and HCI Group, Inc. (HCI). Click either name above to swap in a different company.

HCI Group, Inc. is the larger business by last-quarter revenue ($246.2M vs $196.0M, roughly 1.3× Axsome Therapeutics, Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs -14.6%, a 54.2% gap on every dollar of revenue. On growth, Axsome Therapeutics, Inc. posted the faster year-over-year revenue change (65.0% vs 52.1%). HCI Group, Inc. produced more free cash flow last quarter ($440.8M vs $-18.7M). Over the past eight quarters, Axsome Therapeutics, Inc.'s revenue compounded faster (61.7% CAGR vs 9.2%).

Jazz Pharmaceuticals plc is a global biopharmaceutical company with a focus on oncology and neuroscience. It was founded in 2003 in California, United States and is now headquartered in Dublin, Ireland.

HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.

AXSM vs HCI — Head-to-Head

Bigger by revenue
HCI
HCI
1.3× larger
HCI
$246.2M
$196.0M
AXSM
Growing faster (revenue YoY)
AXSM
AXSM
+12.9% gap
AXSM
65.0%
52.1%
HCI
Higher net margin
HCI
HCI
54.2% more per $
HCI
39.7%
-14.6%
AXSM
More free cash flow
HCI
HCI
$459.5M more FCF
HCI
$440.8M
$-18.7M
AXSM
Faster 2-yr revenue CAGR
AXSM
AXSM
Annualised
AXSM
61.7%
9.2%
HCI

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
AXSM
AXSM
HCI
HCI
Revenue
$196.0M
$246.2M
Net Profit
$-28.6M
$97.7M
Gross Margin
Operating Margin
-13.8%
58.5%
Net Margin
-14.6%
39.7%
Revenue YoY
65.0%
52.1%
Net Profit YoY
61.9%
3679.2%
EPS (diluted)
$-0.55
$7.29

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
AXSM
AXSM
HCI
HCI
Q4 25
$196.0M
$246.2M
Q3 25
$171.0M
$216.3M
Q2 25
$150.0M
$221.9M
Q1 25
$121.5M
$216.4M
Q4 24
$118.8M
$161.9M
Q3 24
$104.8M
$175.3M
Q2 24
$87.2M
$206.2M
Q1 24
$75.0M
$206.6M
Net Profit
AXSM
AXSM
HCI
HCI
Q4 25
$-28.6M
$97.7M
Q3 25
$-47.2M
$65.5M
Q2 25
$-48.0M
$66.2M
Q1 25
$-59.4M
$69.7M
Q4 24
$-74.9M
$2.6M
Q3 24
$-64.6M
$5.7M
Q2 24
$-79.3M
$54.1M
Q1 24
$-68.4M
$47.6M
Operating Margin
AXSM
AXSM
HCI
HCI
Q4 25
-13.8%
58.5%
Q3 25
-27.0%
41.9%
Q2 25
-24.5%
42.5%
Q1 25
-46.9%
46.4%
Q4 24
-61.1%
3.6%
Q3 24
-59.8%
8.0%
Q2 24
-89.5%
36.9%
Q1 24
-89.7%
37.5%
Net Margin
AXSM
AXSM
HCI
HCI
Q4 25
-14.6%
39.7%
Q3 25
-27.6%
30.3%
Q2 25
-32.0%
29.8%
Q1 25
-48.9%
32.2%
Q4 24
-63.1%
1.6%
Q3 24
-61.7%
3.2%
Q2 24
-91.0%
26.2%
Q1 24
-91.1%
23.0%
EPS (diluted)
AXSM
AXSM
HCI
HCI
Q4 25
$-0.55
$7.29
Q3 25
$-0.94
$4.90
Q2 25
$-0.97
$5.18
Q1 25
$-1.22
$5.35
Q4 24
$-1.54
$0.32
Q3 24
$-1.34
$0.52
Q2 24
$-1.67
$4.24
Q1 24
$-1.44
$3.81

Balance Sheet & Financial Strength

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

Metric
AXSM
AXSM
HCI
HCI
Cash + ST InvestmentsLiquidity on hand
$322.9M
$1.2B
Total DebtLower is stronger
Stockholders' EquityBook value
$88.3M
$1.0B
Total Assets
$689.8M
$2.5B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AXSM
AXSM
HCI
HCI
Q4 25
$322.9M
$1.2B
Q3 25
$325.3M
$987.9M
Q2 25
$303.0M
$947.2M
Q1 25
$300.9M
$754.5M
Q4 24
$315.4M
$532.5M
Q3 24
$327.3M
$518.8M
Q2 24
$315.7M
$445.8M
Q1 24
$331.4M
$655.4M
Stockholders' Equity
AXSM
AXSM
HCI
HCI
Q4 25
$88.3M
$1.0B
Q3 25
$73.7M
$821.8M
Q2 25
$73.1M
$758.6M
Q1 25
$53.2M
$522.7M
Q4 24
$57.0M
$453.3M
Q3 24
$92.9M
$455.3M
Q2 24
$102.9M
$447.3M
Q1 24
$144.0M
$395.7M
Total Assets
AXSM
AXSM
HCI
HCI
Q4 25
$689.8M
$2.5B
Q3 25
$669.3M
$2.3B
Q2 25
$639.8M
$2.4B
Q1 25
$596.7M
$2.3B
Q4 24
$568.5M
$2.2B
Q3 24
$561.5M
$2.0B
Q2 24
$548.2M
$1.9B
Q1 24
$545.7M
$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
AXSM
AXSM
HCI
HCI
Operating Cash FlowLast quarter
$-18.7M
$444.4M
Free Cash FlowOCF − Capex
$-18.7M
$440.8M
FCF MarginFCF / Revenue
-9.6%
179.0%
Capex IntensityCapex / Revenue
0.0%
1.5%
Cash ConversionOCF / Net Profit
4.55×
TTM Free Cash FlowTrailing 4 quarters
$-93.9M
$771.4M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AXSM
AXSM
HCI
HCI
Q4 25
$-18.7M
$444.4M
Q3 25
$1.0M
$26.7M
Q2 25
$-32.4M
$145.0M
Q1 25
$-43.4M
$162.0M
Q4 24
$-26.2M
$331.8M
Q3 24
$-18.6M
$104.1M
Q2 24
$-30.1M
$-29.0M
Q1 24
$-53.5M
$182.0M
Free Cash Flow
AXSM
AXSM
HCI
HCI
Q4 25
$-18.7M
$440.8M
Q3 25
$988.0K
$25.9M
Q2 25
$-32.4M
$144.5M
Q1 25
$-43.7M
$160.3M
Q4 24
$-26.2M
$327.8M
Q3 24
$-18.7M
$103.2M
Q2 24
$-30.2M
$-30.1M
Q1 24
$-53.6M
$181.0M
FCF Margin
AXSM
AXSM
HCI
HCI
Q4 25
-9.6%
179.0%
Q3 25
0.6%
12.0%
Q2 25
-21.6%
65.1%
Q1 25
-36.0%
74.1%
Q4 24
-22.1%
202.5%
Q3 24
-17.9%
58.9%
Q2 24
-34.6%
-14.6%
Q1 24
-71.4%
87.6%
Capex Intensity
AXSM
AXSM
HCI
HCI
Q4 25
0.0%
1.5%
Q3 25
0.0%
0.4%
Q2 25
0.0%
0.2%
Q1 25
0.3%
0.8%
Q4 24
0.0%
2.5%
Q3 24
0.1%
0.5%
Q2 24
0.1%
0.5%
Q1 24
0.1%
0.5%
Cash Conversion
AXSM
AXSM
HCI
HCI
Q4 25
4.55×
Q3 25
0.41×
Q2 25
2.19×
Q1 25
2.32×
Q4 24
128.41×
Q3 24
18.33×
Q2 24
-0.54×
Q1 24
3.82×

Financial Flow Comparison

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

Revenue Breakdown by Segment

AXSM
AXSM

Segment breakdown not available.

HCI
HCI

Insurance Operation$218.3M89%
Reciprocal Exchange Operation$27.0M11%

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