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Side-by-side financial comparison of CEA Industries Inc. (BNC) and Avidity Biosciences, Inc. (RNA). Click either name above to swap in a different company.

Avidity Biosciences, Inc. is the larger business by last-quarter revenue ($12.5M vs $7.1M, roughly 1.7× CEA Industries Inc.). CEA Industries Inc. runs the higher net margin — 3970.6% vs -1398.3%, a 5369.0% gap on every dollar of revenue. On growth, CEA Industries Inc. posted the faster year-over-year revenue change (1727.8% vs 434.0%). Over the past eight quarters, Avidity Biosciences, Inc.'s revenue compounded faster (138.5% CAGR vs 18.8%).

CEA Technologies is an Australian government business enterprise that primarily supplies the Royal Australian Navy. The company was established in 1983. Its phase array radars, which are fitted to the Royal Australian Navy's fleet of warships, are regarded by Australians as the best in the world.

Eli Lilly and Company, doing business as Lilly, is an American multinational pharmaceutical company headquartered in Indianapolis, Indiana, with offices in 18 countries. Its products are sold in approximately 125 countries. The company was founded in 1876 by Eli Lilly, a pharmaceutical chemist and Union army veteran during the American Civil War for whom the company was later named.

BNC vs RNA — Head-to-Head

Bigger by revenue
RNA
RNA
1.7× larger
RNA
$12.5M
$7.1M
BNC
Growing faster (revenue YoY)
BNC
BNC
+1293.8% gap
BNC
1727.8%
434.0%
RNA
Higher net margin
BNC
BNC
5369.0% more per $
BNC
3970.6%
-1398.3%
RNA
Faster 2-yr revenue CAGR
RNA
RNA
Annualised
RNA
138.5%
18.8%
BNC

Income Statement — Q2 FY2026 vs Q3 FY2025

Metric
BNC
BNC
RNA
RNA
Revenue
$7.1M
$12.5M
Net Profit
$283.6M
$-174.4M
Gross Margin
29.3%
Operating Margin
-1513.5%
Net Margin
3970.6%
-1398.3%
Revenue YoY
1727.8%
434.0%
Net Profit YoY
38409.2%
-117.0%
EPS (diluted)
$5.36
$-1.27

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
BNC
BNC
RNA
RNA
Q4 25
$7.1M
Q3 25
$4.6M
$12.5M
Q2 25
$3.8M
Q1 25
$1.6M
Q4 24
$3.0M
Q3 24
$2.3M
Q2 24
$1.8M
$2.0M
Q1 24
$3.5M
Net Profit
BNC
BNC
RNA
RNA
Q4 25
$283.6M
Q3 25
$-5.8M
$-174.4M
Q2 25
$-157.3M
Q1 25
$-115.8M
Q4 24
$-102.3M
Q3 24
$-80.4M
Q2 24
$-470.3K
$-70.8M
Q1 24
$-68.9M
Gross Margin
BNC
BNC
RNA
RNA
Q4 25
29.3%
Q3 25
30.0%
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
10.2%
Q1 24
Operating Margin
BNC
BNC
RNA
RNA
Q4 25
Q3 25
-123.2%
-1513.5%
Q2 25
-4448.7%
Q1 25
-8360.9%
Q4 24
-4069.6%
Q3 24
-4200.9%
Q2 24
-27.1%
-4040.4%
Q1 24
-2178.6%
Net Margin
BNC
BNC
RNA
RNA
Q4 25
3970.6%
Q3 25
-127.7%
-1398.3%
Q2 25
-4089.3%
Q1 25
-7360.0%
Q4 24
-3439.5%
Q3 24
-3441.7%
Q2 24
-26.7%
-3461.8%
Q1 24
-1943.4%
EPS (diluted)
BNC
BNC
RNA
RNA
Q4 25
$5.36
Q3 25
$-6.94
$-1.27
Q2 25
$-1.21
Q1 25
$-0.90
Q4 24
$-0.80
Q3 24
$-0.65
Q2 24
$-0.66
$-0.65
Q1 24
$-0.79

Balance Sheet & Financial Strength

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

Metric
BNC
BNC
RNA
RNA
Cash + ST InvestmentsLiquidity on hand
$32.5M
$350.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$484.9M
$1.9B
Total Assets
$616.5M
$2.1B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BNC
BNC
RNA
RNA
Q4 25
$32.5M
Q3 25
$3.0M
$350.2M
Q2 25
$243.9M
Q1 25
$254.2M
Q4 24
$219.9M
Q3 24
$370.2M
Q2 24
$11.3M
$575.8M
Q1 24
$471.4M
Stockholders' Equity
BNC
BNC
RNA
RNA
Q4 25
$484.9M
Q3 25
$6.9M
$1.9B
Q2 25
$1.2B
Q1 25
$1.3B
Q4 24
$1.4B
Q3 24
$1.5B
Q2 24
$10.9M
$1.2B
Q1 24
$830.9M
Total Assets
BNC
BNC
RNA
RNA
Q4 25
$616.5M
Q3 25
$19.1M
$2.1B
Q2 25
$1.4B
Q1 25
$1.5B
Q4 24
$1.6B
Q3 24
$1.6B
Q2 24
$12.6M
$1.3B
Q1 24
$951.5M

Cash Flow & Capital Efficiency

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

Metric
BNC
BNC
RNA
RNA
Operating Cash FlowLast quarter
$-156.2M
Free Cash FlowOCF − Capex
$-156.9M
FCF MarginFCF / Revenue
-1257.6%
Capex IntensityCapex / Revenue
5.7%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-592.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BNC
BNC
RNA
RNA
Q4 25
Q3 25
$-1.7M
$-156.2M
Q2 25
$-199.7M
Q1 25
$-124.8M
Q4 24
$-99.9M
Q3 24
$-65.6M
Q2 24
$-273.4K
$-65.0M
Q1 24
$-70.4M
Free Cash Flow
BNC
BNC
RNA
RNA
Q4 25
Q3 25
$-156.9M
Q2 25
$-203.0M
Q1 25
$-128.6M
Q4 24
$-103.8M
Q3 24
$-67.3M
Q2 24
$-65.5M
Q1 24
$-71.3M
FCF Margin
BNC
BNC
RNA
RNA
Q4 25
Q3 25
-1257.6%
Q2 25
-5277.1%
Q1 25
-8174.3%
Q4 24
-3491.0%
Q3 24
-2881.8%
Q2 24
-3204.6%
Q1 24
-2012.3%
Capex Intensity
BNC
BNC
RNA
RNA
Q4 25
Q3 25
5.7%
Q2 25
86.9%
Q1 25
238.6%
Q4 24
131.7%
Q3 24
72.9%
Q2 24
26.0%
Q1 24
25.8%

Financial Flow Comparison

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

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