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Side-by-side financial comparison of Axsome Therapeutics, Inc. (AXSM) and IREN Ltd (IREN). Click either name above to swap in a different company.
Axsome Therapeutics, Inc. is the larger business by last-quarter revenue ($196.0M vs $184.7M, roughly 1.1× IREN Ltd). Axsome Therapeutics, Inc. runs the higher net margin — -14.6% vs -84.1%, a 69.6% gap on every dollar of revenue. On growth, Axsome Therapeutics, Inc. posted the faster year-over-year revenue change (65.0% vs 59.0%). Axsome Therapeutics, Inc. produced more free cash flow last quarter ($-18.7M vs $-468.0M).
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.
IREN Ltd. is a vertically integrated data center business powering the future of Bitcoin, AI and beyond with renewable energy. It is strategically located in renewable-rich, fiber-connected regions across the US and Canada.
AXSM vs IREN — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $196.0M | $184.7M |
| Net Profit | $-28.6M | $-155.4M |
| Gross Margin | — | 64.4% |
| Operating Margin | -13.8% | -63.0% |
| Net Margin | -14.6% | -84.1% |
| Revenue YoY | 65.0% | 59.0% |
| Net Profit YoY | 61.9% | -610.0% |
| EPS (diluted) | $-0.55 | $-0.52 |
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 | $196.0M | $184.7M | ||
| Q3 25 | $171.0M | $240.3M | ||
| Q2 25 | $150.0M | — | ||
| Q1 25 | $121.5M | — | ||
| Q4 24 | $118.8M | $116.1M | ||
| Q3 24 | $104.8M | $52.8M | ||
| Q2 24 | $87.2M | — | ||
| Q1 24 | $75.0M | $54.3M |
| Q4 25 | $-28.6M | $-155.4M | ||
| Q3 25 | $-47.2M | $384.6M | ||
| Q2 25 | $-48.0M | — | ||
| Q1 25 | $-59.4M | — | ||
| Q4 24 | $-74.9M | $-21.9M | ||
| Q3 24 | $-64.6M | $-51.7M | ||
| Q2 24 | $-79.3M | — | ||
| Q1 24 | $-68.4M | $8.6M |
| Q4 25 | — | 64.4% | ||
| Q3 25 | — | 66.4% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 72.2% | ||
| Q3 24 | — | 39.6% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -13.8% | -63.0% | ||
| Q3 25 | -27.0% | -31.8% | ||
| Q2 25 | -24.5% | — | ||
| Q1 25 | -46.9% | — | ||
| Q4 24 | -61.1% | 14.9% | ||
| Q3 24 | -59.8% | -89.2% | ||
| Q2 24 | -89.5% | — | ||
| Q1 24 | -89.7% | 11.1% |
| Q4 25 | -14.6% | -84.1% | ||
| Q3 25 | -27.6% | 160.1% | ||
| Q2 25 | -32.0% | — | ||
| Q1 25 | -48.9% | — | ||
| Q4 24 | -63.1% | -18.8% | ||
| Q3 24 | -61.7% | -98.0% | ||
| Q2 24 | -91.0% | — | ||
| Q1 24 | -91.1% | 15.9% |
| Q4 25 | $-0.55 | $-0.52 | ||
| Q3 25 | $-0.94 | $1.08 | ||
| Q2 25 | $-0.97 | — | ||
| Q1 25 | $-1.22 | — | ||
| Q4 24 | $-1.54 | $-0.10 | ||
| Q3 24 | $-1.34 | $-0.27 | ||
| Q2 24 | $-1.67 | — | ||
| Q1 24 | $-1.44 | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $322.9M | $3.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $88.3M | $2.5B |
| Total Assets | $689.8M | $7.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $322.9M | $3.3B | ||
| Q3 25 | $325.3M | $1.0B | ||
| Q2 25 | $303.0M | — | ||
| Q1 25 | $300.9M | — | ||
| Q4 24 | $315.4M | $427.3M | ||
| Q3 24 | $327.3M | $98.6M | ||
| Q2 24 | $315.7M | — | ||
| Q1 24 | $331.4M | $259.7M |
| Q4 25 | $88.3M | $2.5B | ||
| Q3 25 | $73.7M | $2.9B | ||
| Q2 25 | $73.1M | — | ||
| Q1 25 | $53.2M | — | ||
| Q4 24 | $57.0M | $1.2B | ||
| Q3 24 | $92.9M | $1.1B | ||
| Q2 24 | $102.9M | — | ||
| Q1 24 | $144.0M | $677.2M |
| Q4 25 | $689.8M | $7.0B | ||
| Q3 25 | $669.3M | $4.3B | ||
| Q2 25 | $639.8M | — | ||
| Q1 25 | $596.7M | — | ||
| Q4 24 | $568.5M | $1.9B | ||
| Q3 24 | $561.5M | $1.3B | ||
| Q2 24 | $548.2M | — | ||
| Q1 24 | $545.7M | $723.6M |
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 | $-18.7M | $71.7M |
| Free Cash FlowOCF − Capex | $-18.7M | $-468.0M |
| FCF MarginFCF / Revenue | -9.6% | -253.4% |
| Capex IntensityCapex / Revenue | 0.0% | 292.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.9M | $-701.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.7M | $71.7M | ||
| Q3 25 | $1.0M | $142.4M | ||
| Q2 25 | $-32.4M | — | ||
| Q1 25 | $-43.4M | — | ||
| Q4 24 | $-26.2M | $53.6M | ||
| Q3 24 | $-18.6M | $-3.9M | ||
| Q2 24 | $-30.1M | — | ||
| Q1 24 | $-53.5M | $-27.1M |
| Q4 25 | $-18.7M | $-468.0M | ||
| Q3 25 | $988.0K | $-38.0M | ||
| Q2 25 | $-32.4M | — | ||
| Q1 25 | $-43.7M | — | ||
| Q4 24 | $-26.2M | $-85.5M | ||
| Q3 24 | $-18.7M | $-109.7M | ||
| Q2 24 | $-30.2M | — | ||
| Q1 24 | $-53.6M | $-108.3M |
| Q4 25 | -9.6% | -253.4% | ||
| Q3 25 | 0.6% | -15.8% | ||
| Q2 25 | -21.6% | — | ||
| Q1 25 | -36.0% | — | ||
| Q4 24 | -22.1% | -73.6% | ||
| Q3 24 | -17.9% | -208.0% | ||
| Q2 24 | -34.6% | — | ||
| Q1 24 | -71.4% | -199.4% |
| Q4 25 | 0.0% | 292.2% | ||
| Q3 25 | 0.0% | 75.0% | ||
| Q2 25 | 0.0% | — | ||
| Q1 25 | 0.3% | — | ||
| Q4 24 | 0.0% | 119.7% | ||
| Q3 24 | 0.1% | 200.6% | ||
| Q2 24 | 0.1% | — | ||
| Q1 24 | 0.1% | 149.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.37× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -3.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXSM
Segment breakdown not available.
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
