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Side-by-side financial comparison of BIOCRYST PHARMACEUTICALS INC (BCRX) and IREN Ltd (IREN). Click either name above to swap in a different company.
IREN Ltd is the larger business by last-quarter revenue ($184.7M vs $156.4M, roughly 1.2× BIOCRYST PHARMACEUTICALS INC). On growth, IREN Ltd posted the faster year-over-year revenue change (59.0% vs 7.5%).
BioCryst Pharmaceuticals, Inc. is an American pharmaceutical company headquartered in Durham, North Carolina. The company is a late stage biotech company that focuses on oral drugs for rare and serious diseases. BioCryst's antiviral drug peramivir (Rapivab) was approved by FDA in December 2014. It has also been approved in Japan, Korea, and China.
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.
BCRX vs IREN — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $156.4M | $184.7M |
| Net Profit | — | $-155.4M |
| Gross Margin | — | 64.4% |
| Operating Margin | 13.6% | -63.0% |
| Net Margin | — | -84.1% |
| Revenue YoY | 7.5% | 59.0% |
| Net Profit YoY | — | -610.0% |
| EPS (diluted) | $0.00 | $-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.
| Q1 26 | $156.4M | — | ||
| Q4 25 | $406.6M | $184.7M | ||
| Q3 25 | $159.4M | $240.3M | ||
| Q2 25 | $163.4M | — | ||
| Q1 25 | $145.5M | — | ||
| Q4 24 | $131.5M | $116.1M | ||
| Q3 24 | $117.1M | $52.8M | ||
| Q2 24 | $109.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | $245.8M | $-155.4M | ||
| Q3 25 | $12.9M | $384.6M | ||
| Q2 25 | $5.1M | — | ||
| Q1 25 | $32.0K | — | ||
| Q4 24 | $-26.8M | $-21.9M | ||
| Q3 24 | $-14.0M | $-51.7M | ||
| Q2 24 | $-12.7M | — |
| Q1 26 | — | — | ||
| Q4 25 | 97.7% | 64.4% | ||
| Q3 25 | 98.6% | 66.4% | ||
| Q2 25 | 98.3% | — | ||
| Q1 25 | 96.9% | — | ||
| Q4 24 | 95.4% | 72.2% | ||
| Q3 24 | 97.3% | 39.6% | ||
| Q2 24 | 98.4% | — |
| Q1 26 | 13.6% | — | ||
| Q4 25 | 64.0% | -63.0% | ||
| Q3 25 | 18.6% | -31.8% | ||
| Q2 25 | 18.2% | — | ||
| Q1 25 | 14.6% | — | ||
| Q4 24 | -3.4% | 14.9% | ||
| Q3 24 | 6.6% | -89.2% | ||
| Q2 24 | 8.0% | — |
| Q1 26 | — | — | ||
| Q4 25 | 60.5% | -84.1% | ||
| Q3 25 | 8.1% | 160.1% | ||
| Q2 25 | 3.1% | — | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | -20.4% | -18.8% | ||
| Q3 24 | -12.0% | -98.0% | ||
| Q2 24 | -11.6% | — |
| Q1 26 | $0.00 | — | ||
| Q4 25 | $1.13 | $-0.52 | ||
| Q3 25 | $0.06 | $1.08 | ||
| Q2 25 | $0.02 | — | ||
| Q1 25 | $0.00 | — | ||
| Q4 24 | $-0.13 | $-0.10 | ||
| Q3 24 | $-0.07 | $-0.27 | ||
| Q2 24 | $-0.06 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $259.0M | $3.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $2.5B |
| Total Assets | $465.1M | $7.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $259.0M | — | ||
| Q4 25 | $274.7M | $3.3B | ||
| Q3 25 | $212.9M | $1.0B | ||
| Q2 25 | $260.0M | — | ||
| Q1 25 | $295.1M | — | ||
| Q4 24 | $320.9M | $427.3M | ||
| Q3 24 | $96.8M | $98.6M | ||
| Q2 24 | $78.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | $-119.2M | $2.5B | ||
| Q3 25 | $-387.9M | $2.9B | ||
| Q2 25 | $-421.6M | — | ||
| Q1 25 | $-451.9M | — | ||
| Q4 24 | $-475.9M | $1.2B | ||
| Q3 24 | $-468.6M | $1.1B | ||
| Q2 24 | $-475.6M | — |
| Q1 26 | $465.1M | — | ||
| Q4 25 | $514.2M | $7.0B | ||
| Q3 25 | $446.4M | $4.3B | ||
| Q2 25 | $457.2M | — | ||
| Q1 25 | $480.0M | — | ||
| Q4 24 | $490.4M | $1.9B | ||
| Q3 24 | $491.3M | $1.3B | ||
| Q2 24 | $472.4M | — |
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 | — | $71.7M |
| Free Cash FlowOCF − Capex | — | $-468.0M |
| FCF MarginFCF / Revenue | — | -253.4% |
| Capex IntensityCapex / Revenue | — | 292.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-701.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $292.0M | $71.7M | ||
| Q3 25 | $41.6M | $142.4M | ||
| Q2 25 | $41.3M | — | ||
| Q1 25 | $-27.5M | — | ||
| Q4 24 | $-5.2M | $53.6M | ||
| Q3 24 | $8.2M | $-3.9M | ||
| Q2 24 | $-1.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | $291.2M | $-468.0M | ||
| Q3 25 | $40.3M | $-38.0M | ||
| Q2 25 | $41.1M | — | ||
| Q1 25 | $-27.7M | — | ||
| Q4 24 | $-5.9M | $-85.5M | ||
| Q3 24 | $8.2M | $-109.7M | ||
| Q2 24 | $-1.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | 71.6% | -253.4% | ||
| Q3 25 | 25.3% | -15.8% | ||
| Q2 25 | 25.2% | — | ||
| Q1 25 | -19.0% | — | ||
| Q4 24 | -4.5% | -73.6% | ||
| Q3 24 | 7.0% | -208.0% | ||
| Q2 24 | -1.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | 0.2% | 292.2% | ||
| Q3 25 | 0.8% | 75.0% | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.5% | 119.7% | ||
| Q3 24 | 0.1% | 200.6% | ||
| Q2 24 | 0.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 1.19× | — | ||
| Q3 25 | 3.23× | 0.37× | ||
| Q2 25 | 8.12× | — | ||
| Q1 25 | -859.91× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BCRX
| ORLADEYO | $148.3M | 95% |
| Other revenues | $5.0M | 3% |
| License revenue | $3.0M | 2% |
IREN
| Bitcoin Mining Revenue | $167.4M | 91% |
| AI Cloud Services | $17.3M | 9% |
