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Side-by-side financial comparison of Bone Biologics Corp (BBLG) and Incannex Healthcare Inc. (IXHL). Click either name above to swap in a different company.

Bone Biologics Corp is a clinical-stage biotechnology firm focused on developing orthobiologic products to boost bone regeneration and healing for orthopedic surgery patients, including spinal fusion recipients. It mainly operates in the U.S. healthcare market, targeting orthopedic care and regenerative medicine segments.

Incannex Healthcare Inc. is a clinical-stage biopharmaceutical firm developing proprietary cannabinoid and psychedelic-derived therapies for unmet medical needs in respiratory, neurological, and inflammatory disorder segments. It advances its pipeline via global clinical trials to secure regulatory approvals for commercialization.

BBLG vs IXHL — Head-to-Head

Bigger by revenue
BBLG
BBLG
Infinity× larger
BBLG
$255
$0
IXHL

Income Statement — Q1 FY2024 vs Q3 FY2025

Metric
BBLG
BBLG
IXHL
IXHL
Revenue
$255
$0
Net Profit
$-866.0K
$-4.0M
Gross Margin
Operating Margin
-354327.8%
Net Margin
-339596.1%
Revenue YoY
-54.1%
Net Profit YoY
76.7%
34.2%
EPS (diluted)
$-1.31
$-0.20

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
BBLG
BBLG
IXHL
IXHL
Q1 25
$0
Q4 24
$12.0K
Q3 24
$74.0K
Q1 24
$255
Q4 23
$348
Q3 23
$536
Q2 23
$428
Q1 23
$556
Net Profit
BBLG
BBLG
IXHL
IXHL
Q1 25
$-4.0M
Q4 24
$-5.9M
Q3 24
$-5.4M
Q1 24
$-866.0K
Q4 23
$-1.5M
Q3 23
$-1.9M
Q2 23
$-1.8M
Q1 23
$-3.7M
Operating Margin
BBLG
BBLG
IXHL
IXHL
Q1 25
Q4 24
-41700.0%
Q3 24
-8451.4%
Q1 24
-354327.8%
Q4 23
-333335.6%
Q3 23
-388225.7%
Q2 23
-710249.5%
Q1 23
-566103.8%
Net Margin
BBLG
BBLG
IXHL
IXHL
Q1 25
Q4 24
-49116.7%
Q3 24
-7324.3%
Q1 24
-339596.1%
Q4 23
-445369.3%
Q3 23
-358154.7%
Q2 23
-413373.4%
Q1 23
-667248.0%
EPS (diluted)
BBLG
BBLG
IXHL
IXHL
Q1 25
$-0.20
Q4 24
$-0.33
Q3 24
$-0.29
Q1 24
$-1.31
Q4 23
$31.30
Q3 23
$-4.90
Q2 23
$-5.21
Q1 23
$-55.20

Balance Sheet & Financial Strength

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

Metric
BBLG
BBLG
IXHL
IXHL
Cash + ST InvestmentsLiquidity on hand
$6.7M
Total DebtLower is stronger
Stockholders' EquityBook value
$3.7M
$7.4M
Total Assets
$3.8M
$16.2M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BBLG
BBLG
IXHL
IXHL
Q1 25
$6.7M
Q4 24
$2.1M
Q3 24
$3.6M
Q1 24
Q4 23
Q3 23
Q2 23
Q1 23
$6.2M
Total Debt
BBLG
BBLG
IXHL
IXHL
Q1 25
Q4 24
$2.4M
Q3 24
Q1 24
Q4 23
Q3 23
Q2 23
Q1 23
Stockholders' Equity
BBLG
BBLG
IXHL
IXHL
Q1 25
$7.4M
Q4 24
$964.0K
Q3 24
$6.6M
Q1 24
$3.7M
Q4 23
$2.9M
Q3 23
$3.8M
Q2 23
$5.7M
Q1 23
$2.8M
Total Assets
BBLG
BBLG
IXHL
IXHL
Q1 25
$16.2M
Q4 24
$11.1M
Q3 24
$16.0M
Q1 24
$3.8M
Q4 23
$3.7M
Q3 23
$5.0M
Q2 23
$7.6M
Q1 23
$6.8M
Debt / Equity
BBLG
BBLG
IXHL
IXHL
Q1 25
Q4 24
2.47×
Q3 24
Q1 24
Q4 23
Q3 23
Q2 23
Q1 23

Cash Flow & Capital Efficiency

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

Metric
BBLG
BBLG
IXHL
IXHL
Operating Cash FlowLast quarter
$-1.3M
$-3.2M
Free Cash FlowOCF − Capex
$-9.2M
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BBLG
BBLG
IXHL
IXHL
Q1 25
$-3.2M
Q4 24
$-5.6M
Q3 24
$-2.2M
Q1 24
$-1.3M
Q4 23
$-2.0M
Q3 23
$-2.6M
Q2 23
$-3.6M
Q1 23
$-1.3M
Free Cash Flow
BBLG
BBLG
IXHL
IXHL
Q1 25
$-9.2M
Q4 24
Q3 24
Q1 24
Q4 23
Q3 23
Q2 23
Q1 23

Financial Flow Comparison

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

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