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Side-by-side financial comparison of BioLineRx Ltd. (BLRX) and INTELLIGENT PROTECTION MANAGEMENT CORP. (IPM). Click either name above to swap in a different company.

INTELLIGENT PROTECTION MANAGEMENT CORP. is the larger business by last-quarter revenue ($6.1M vs $5.4M, roughly 1.1× BioLineRx Ltd.).

BioLineRx Ltd., or BioLine, is a publicly traded drug development company. Headquartered in Israel, its shares are traded on the NASDAQ Capital Market and on the Tel Aviv Stock Exchange.

Intelligent Limited is a Holding Company and Parent company headquartered in Gloucestershire, United Kingdom and was incorporated on 21 May 2008. Intelligent Limited provides a group management structure for four companies and was born out of the operations of International Intelligence Limited, a company specialising in Intelligence, Counter Espionage and TSCM sweeping.

BLRX vs IPM — Head-to-Head

Bigger by revenue
IPM
IPM
1.1× larger
IPM
$6.1M
$5.4M
BLRX

Income Statement — Q2 FY2024 vs Q4 FY2025

Metric
BLRX
BLRX
IPM
IPM
Revenue
$5.4M
$6.1M
Net Profit
$484.0K
Gross Margin
83.4%
53.1%
Operating Margin
-107.0%
-13.4%
Net Margin
9.0%
Revenue YoY
2091.6%
Net Profit YoY
102.6%
EPS (diluted)
$0.00
$-0.05

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
BLRX
BLRX
IPM
IPM
Q4 25
$6.1M
Q3 25
$6.2M
Q2 25
$5.7M
Q1 25
$5.5M
Q2 24
$5.4M
Q4 23
$-7.3M
Q3 23
$2.8M
Q2 23
$0
$3.0M
Net Profit
BLRX
BLRX
IPM
IPM
Q4 25
Q3 25
$-1.1M
Q2 25
$-1.1M
Q1 25
$808.5K
Q2 24
$484.0K
Q4 23
Q3 23
$-181.6K
Q2 23
$-18.5M
$135.6K
Gross Margin
BLRX
BLRX
IPM
IPM
Q4 25
53.1%
Q3 25
50.7%
Q2 25
50.1%
Q1 25
55.3%
Q2 24
83.4%
Q4 23
Q3 23
70.1%
Q2 23
73.8%
Operating Margin
BLRX
BLRX
IPM
IPM
Q4 25
-13.4%
Q3 25
-23.0%
Q2 25
-19.7%
Q1 25
-24.2%
Q2 24
-107.0%
Q4 23
Q3 23
-14.1%
Q2 23
-9.4%
Net Margin
BLRX
BLRX
IPM
IPM
Q4 25
Q3 25
-17.4%
Q2 25
-18.3%
Q1 25
14.7%
Q2 24
9.0%
Q4 23
Q3 23
-6.6%
Q2 23
4.6%
EPS (diluted)
BLRX
BLRX
IPM
IPM
Q4 25
$-0.05
Q3 25
$-0.08
Q2 25
$-0.08
Q1 25
$0.06
Q2 24
$0.00
Q4 23
$-0.03
Q3 23
$-0.02
Q2 23
$-0.02
$0.01

Balance Sheet & Financial Strength

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

Metric
BLRX
BLRX
IPM
IPM
Cash + ST InvestmentsLiquidity on hand
$9.6M
$5.6M
Total DebtLower is stronger
Stockholders' EquityBook value
$13.9M
$18.2M
Total Assets
$64.6M
$26.0M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BLRX
BLRX
IPM
IPM
Q4 25
$5.6M
Q3 25
$7.3M
Q2 25
$7.3M
Q1 25
$9.7M
Q2 24
$9.6M
Q4 23
$13.6M
Q3 23
$13.7M
Q2 23
$10.1M
$13.7M
Stockholders' Equity
BLRX
BLRX
IPM
IPM
Q4 25
$18.2M
Q3 25
$18.8M
Q2 25
$19.9M
Q1 25
$21.1M
Q2 24
$13.9M
Q4 23
$20.1M
Q3 23
$20.4M
Q2 23
$21.1M
$20.5M
Total Assets
BLRX
BLRX
IPM
IPM
Q4 25
$26.0M
Q3 25
$27.2M
Q2 25
$29.8M
Q1 25
$31.1M
Q2 24
$64.6M
Q4 23
$23.9M
Q3 23
$24.1M
Q2 23
$58.9M
$24.4M

Cash Flow & Capital Efficiency

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

Metric
BLRX
BLRX
IPM
IPM
Operating Cash FlowLast quarter
$-25.4M
$87.6K
Free Cash FlowOCF − Capex
$-25.5M
FCF MarginFCF / Revenue
-472.8%
Capex IntensityCapex / Revenue
1.1%
Cash ConversionOCF / Net Profit
-52.56×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BLRX
BLRX
IPM
IPM
Q4 25
$87.6K
Q3 25
$133.0K
Q2 25
$-888.7K
Q1 25
$1.7M
Q2 24
$-25.4M
Q4 23
$-99.0K
Q3 23
$16.1K
Q2 23
$-17.7M
$-193.8K
Free Cash Flow
BLRX
BLRX
IPM
IPM
Q4 25
Q3 25
Q2 25
Q1 25
Q2 24
$-25.5M
Q4 23
Q3 23
Q2 23
$-17.8M
FCF Margin
BLRX
BLRX
IPM
IPM
Q4 25
Q3 25
Q2 25
Q1 25
Q2 24
-472.8%
Q4 23
Q3 23
Q2 23
Capex Intensity
BLRX
BLRX
IPM
IPM
Q4 25
Q3 25
0.0%
Q2 25
Q1 25
Q2 24
1.1%
Q4 23
Q3 23
Q2 23
Cash Conversion
BLRX
BLRX
IPM
IPM
Q4 25
Q3 25
Q2 25
Q1 25
2.16×
Q2 24
-52.56×
Q4 23
Q3 23
Q2 23
-1.43×

Financial Flow Comparison

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

Revenue Breakdown by Segment

BLRX
BLRX

Segment breakdown not available.

IPM
IPM

Procurement Revenue$5.4M88%
Other$743.9K12%

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