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Side-by-side financial comparison of AYTU BIOPHARMA, INC (AYTU) and Velo3D, Inc. (VELO). Click either name above to swap in a different company.

AYTU BIOPHARMA, INC is the larger business by last-quarter revenue ($15.2M vs $9.4M, roughly 1.6× Velo3D, Inc.). AYTU BIOPHARMA, INC runs the higher net margin — -69.8% vs -231.9%, a 162.1% gap on every dollar of revenue. On growth, AYTU BIOPHARMA, INC posted the faster year-over-year revenue change (-6.5% vs -25.2%). AYTU BIOPHARMA, INC produced more free cash flow last quarter ($3.7M vs $-8.3M). Over the past eight quarters, AYTU BIOPHARMA, INC's revenue compounded faster (4.0% CAGR vs -1.8%).

Aytu BioPharma, Inc. is a US-based specialty pharmaceutical company that develops and commercializes a portfolio of consumer healthcare products and prescription therapeutics. Its key offerings cover cold and allergy treatments, sexual health solutions, and therapies for rare pediatric conditions, serving patients and healthcare providers across the United States.

Velo3D, Inc. develops and sells advanced end-to-end metal additive manufacturing (3D printing) solutions, comprising industrial-grade printers, specialized processing software, and high-performance metal materials. It primarily serves global aerospace, defense, energy, semiconductor and industrial manufacturing markets, enabling customers to produce complex, high-precision metal parts that are difficult to manufacture with traditional methods.

AYTU vs VELO — Head-to-Head

Bigger by revenue
AYTU
AYTU
1.6× larger
AYTU
$15.2M
$9.4M
VELO
Growing faster (revenue YoY)
AYTU
AYTU
+18.7% gap
AYTU
-6.5%
-25.2%
VELO
Higher net margin
AYTU
AYTU
162.1% more per $
AYTU
-69.8%
-231.9%
VELO
More free cash flow
AYTU
AYTU
$12.0M more FCF
AYTU
$3.7M
$-8.3M
VELO
Faster 2-yr revenue CAGR
AYTU
AYTU
Annualised
AYTU
4.0%
-1.8%
VELO

Income Statement — Q2 FY2026 vs Q4 FY2025

Metric
AYTU
AYTU
VELO
VELO
Revenue
$15.2M
$9.4M
Net Profit
$-10.6M
$-21.9M
Gross Margin
63.5%
-73.6%
Operating Margin
-13.0%
-231.0%
Net Margin
-69.8%
-231.9%
Revenue YoY
-6.5%
-25.2%
Net Profit YoY
-1443.1%
-2.9%
EPS (diluted)
$-1.05
$-0.87

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
AYTU
AYTU
VELO
VELO
Q4 25
$15.2M
$9.4M
Q3 25
$13.9M
$13.6M
Q2 25
$15.1M
$13.6M
Q1 25
$18.5M
$9.3M
Q4 24
$16.2M
$12.6M
Q3 24
$16.6M
$8.2M
Q2 24
$14.6M
$10.3M
Q1 24
$14.0M
$9.8M
Net Profit
AYTU
AYTU
VELO
VELO
Q4 25
$-10.6M
$-21.9M
Q3 25
$2.0M
$-11.2M
Q2 25
$-19.8M
$-13.3M
Q1 25
$4.0M
$-25.0M
Q4 24
$788.0K
$-21.3M
Q3 24
$1.5M
$-21.9M
Q2 24
$-4.6M
$935.0K
Q1 24
$-2.9M
$-27.5M
Gross Margin
AYTU
AYTU
VELO
VELO
Q4 25
63.5%
-73.6%
Q3 25
66.1%
3.2%
Q2 25
67.8%
-11.7%
Q1 25
69.4%
7.5%
Q4 24
66.5%
-3.5%
Q3 24
72.3%
49.4%
Q2 24
75.7%
-28.0%
Q1 24
73.9%
-28.8%
Operating Margin
AYTU
AYTU
VELO
VELO
Q4 25
-13.0%
-231.0%
Q3 25
-10.8%
-73.3%
Q2 25
-50.4%
-85.4%
Q1 25
13.1%
-123.6%
Q4 24
-10.4%
-167.0%
Q3 24
-5.6%
-213.8%
Q2 24
-15.6%
-187.7%
Q1 24
-11.4%
-211.1%
Net Margin
AYTU
AYTU
VELO
VELO
Q4 25
-69.8%
-231.9%
Q3 25
14.1%
-82.0%
Q2 25
-130.9%
-97.7%
Q1 25
21.6%
-268.4%
Q4 24
4.9%
-168.5%
Q3 24
8.9%
-265.3%
Q2 24
-31.6%
9.0%
Q1 24
-20.6%
-281.2%
EPS (diluted)
AYTU
AYTU
VELO
VELO
Q4 25
$-1.05
$-0.87
Q3 25
$-0.08
$-0.65
Q2 25
$-0.94
Q1 25
$0.21
$-1.87
Q4 24
$-0.26
$7.06
Q3 24
$-0.15
$-35.52
Q2 24
$1.65
Q1 24
$-0.52
$-55.51

Balance Sheet & Financial Strength

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

Metric
AYTU
AYTU
VELO
VELO
Cash + ST InvestmentsLiquidity on hand
$30.0M
$39.0M
Total DebtLower is stronger
$10.0M
$31.0M
Stockholders' EquityBook value
$14.2M
$38.2M
Total Assets
$122.0M
$105.3M
Debt / EquityLower = less leverage
0.70×
0.81×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AYTU
AYTU
VELO
VELO
Q4 25
$30.0M
$39.0M
Q3 25
$32.6M
$11.8M
Q2 25
$31.0M
$854.0K
Q1 25
$18.2M
$3.9M
Q4 24
$20.4M
$1.2M
Q3 24
$20.1M
$1.6M
Q2 24
$20.0M
$3.2M
Q1 24
$19.8M
$10.9M
Total Debt
AYTU
AYTU
VELO
VELO
Q4 25
$10.0M
$31.0M
Q3 25
$10.4M
$23.0M
Q2 25
$10.9M
$22.5M
Q1 25
$9.5M
$21.7M
Q4 24
$10.0M
$5.7M
Q3 24
$10.4M
$32.3M
Q2 24
$10.9M
$33.5M
Q1 24
$0
$44.0M
Stockholders' Equity
AYTU
AYTU
VELO
VELO
Q4 25
$14.2M
$38.2M
Q3 25
$23.2M
$29.9M
Q2 25
$19.0M
$21.4M
Q1 25
$34.9M
$32.8M
Q4 24
$30.8M
$39.7M
Q3 24
$29.8M
$34.4M
Q2 24
$27.7M
$52.1M
Q1 24
$30.8M
$45.5M
Total Assets
AYTU
AYTU
VELO
VELO
Q4 25
$122.0M
$105.3M
Q3 25
$125.0M
$93.7M
Q2 25
$124.2M
$78.4M
Q1 25
$124.2M
$91.3M
Q4 24
$116.2M
$89.2M
Q3 24
$115.8M
$110.8M
Q2 24
$118.1M
$116.7M
Q1 24
$128.9M
$136.1M
Debt / Equity
AYTU
AYTU
VELO
VELO
Q4 25
0.70×
0.81×
Q3 25
0.45×
0.77×
Q2 25
0.57×
1.05×
Q1 25
0.27×
0.66×
Q4 24
0.32×
0.14×
Q3 24
0.35×
0.94×
Q2 24
0.39×
0.64×
Q1 24
0.00×
0.97×

Cash Flow & Capital Efficiency

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

Metric
AYTU
AYTU
VELO
VELO
Operating Cash FlowLast quarter
$3.7M
$-7.7M
Free Cash FlowOCF − Capex
$3.7M
$-8.3M
FCF MarginFCF / Revenue
24.1%
-88.3%
Capex IntensityCapex / Revenue
0.1%
6.4%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AYTU
AYTU
VELO
VELO
Q4 25
$3.7M
$-7.7M
Q3 25
$-618.0K
$-6.0M
Q2 25
$2.8M
$-1.2M
Q1 25
$-6.5M
$-12.3M
Q4 24
$2.9M
$-2.2M
Q3 24
$-1.2M
$-2.0M
Q2 24
$-788.0K
$-8.0M
Q1 24
$-254.0K
$-20.5M
Free Cash Flow
AYTU
AYTU
VELO
VELO
Q4 25
$3.7M
$-8.3M
Q3 25
$-6.3M
Q2 25
$-3.0M
Q1 25
$-6.5M
Q4 24
$2.9M
$-2.2M
Q3 24
$-1.3M
$-2.0M
Q2 24
$-8.0M
Q1 24
$-20.5M
FCF Margin
AYTU
AYTU
VELO
VELO
Q4 25
24.1%
-88.3%
Q3 25
-46.5%
Q2 25
-22.2%
Q1 25
-35.4%
Q4 24
17.9%
-17.7%
Q3 24
-8.0%
-24.2%
Q2 24
-77.1%
Q1 24
-209.8%
Capex Intensity
AYTU
AYTU
VELO
VELO
Q4 25
0.1%
6.4%
Q3 25
0.0%
2.3%
Q2 25
13.3%
Q1 25
0.4%
0.0%
Q4 24
0.0%
0.2%
Q3 24
0.8%
0.2%
Q2 24
0.0%
Q1 24
0.0%
0.1%
Cash Conversion
AYTU
AYTU
VELO
VELO
Q4 25
Q3 25
-0.31×
Q2 25
Q1 25
-1.62×
Q4 24
3.69×
Q3 24
-0.81×
Q2 24
-8.52×
Q1 24

Financial Flow Comparison

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

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