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Side-by-side financial comparison of Bolt Biotherapeutics, Inc. (BOLT) and Pony AI Inc. (PONY). Click either name above to swap in a different company.

Bolt Biotherapeutics, Inc. is the larger business by last-quarter revenue ($2.5M vs $2.1M, roughly 1.2× Pony AI Inc.). Bolt Biotherapeutics, Inc. runs the higher net margin — -265.2% vs -284.8%, a 19.5% gap on every dollar of revenue.

Bolt Biotherapeutics, Inc. is a clinical-stage biotechnology company specializing in immune-stimulating antibody conjugate (ISAC) therapies for cancer treatment. Its core pipeline targets hard-to-treat solid tumors, serving global oncology markets and advancing novel immunotherapies that trigger targeted anti-tumor immune responses to improve patient outcomes.

Pony Canyon Inc. , also known by the shorthand form Ponican , is a Japanese company, established on October 1, 1966, which distributes music, films, home video, and video games. It is affiliated with the Japanese media group Fujisankei Communications Group. Pony Canyon is a major leader in the music industry in Japan, with its artists regularly at the top of the Japanese charts. Pony Canyon is also responsible for releasing taped concerts from its artists as well as many anime productions and...

BOLT vs PONY — Head-to-Head

Bigger by revenue
BOLT
BOLT
1.2× larger
BOLT
$2.5M
$2.1M
PONY
Higher net margin
BOLT
BOLT
19.5% more per $
BOLT
-265.2%
-284.8%
PONY

Income Statement — Q4 FY2025 vs Q3 FY2025

Metric
BOLT
BOLT
PONY
PONY
Revenue
$2.5M
$2.1M
Net Profit
$-6.6M
$-5.9M
Gross Margin
9.2%
Operating Margin
-283.4%
-275.3%
Net Margin
-265.2%
-284.8%
Revenue YoY
Net Profit YoY
58.4%
EPS (diluted)
$-9.38
$-3.51

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
BOLT
BOLT
PONY
PONY
Q4 25
$2.5M
Q3 25
$2.2M
$2.1M
Q2 25
$1.8M
$1.7M
Q1 25
$1.2M
$1.9M
Q4 24
$0
Q3 24
$1.1M
Q2 24
$1.3M
Q1 24
$5.3M
Net Profit
BOLT
BOLT
PONY
PONY
Q4 25
$-6.6M
Q3 25
$-7.1M
$-5.9M
Q2 25
$-8.6M
$-4.3M
Q1 25
$-11.0M
$-5.2M
Q4 24
$-15.9M
Q3 24
$-15.2M
Q2 24
$-21.2M
Q1 24
$-10.8M
Gross Margin
BOLT
BOLT
PONY
PONY
Q4 25
Q3 25
9.2%
Q2 25
Q1 25
16.6%
Q4 24
Q3 24
Q2 24
Q1 24
Operating Margin
BOLT
BOLT
PONY
PONY
Q4 25
-283.4%
Q3 25
-355.1%
-275.3%
Q2 25
-510.5%
-303.4%
Q1 25
-991.4%
-400.9%
Q4 24
Q3 24
-1441.1%
Q2 24
-1772.3%
Q1 24
-324.1%
Net Margin
BOLT
BOLT
PONY
PONY
Q4 25
-265.2%
Q3 25
-329.4%
-284.8%
Q2 25
-474.6%
-253.7%
Q1 25
-903.4%
-267.4%
Q4 24
Q3 24
-1330.1%
Q2 24
-1662.4%
Q1 24
-205.0%
EPS (diluted)
BOLT
BOLT
PONY
PONY
Q4 25
$-9.38
Q3 25
$-3.72
$-3.51
Q2 25
$-4.46
$-0.92
Q1 25
$-0.29
$-0.12
Q4 24
$-13.73
Q3 24
$-7.93
Q2 24
$-11.12
Q1 24
$-0.28

Balance Sheet & Financial Strength

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

Metric
BOLT
BOLT
PONY
PONY
Cash + ST InvestmentsLiquidity on hand
$27.5M
$62.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$26.5M
$114.1M
Total Assets
$56.7M
$126.5M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BOLT
BOLT
PONY
PONY
Q4 25
$27.5M
Q3 25
$31.9M
$62.5M
Q2 25
$34.8M
$84.9M
Q1 25
$38.8M
$86.8M
Q4 24
$47.3M
Q3 24
$53.8M
Q2 24
$73.7M
Q1 24
$91.3M
Stockholders' Equity
BOLT
BOLT
PONY
PONY
Q4 25
$26.5M
Q3 25
$32.1M
$114.1M
Q2 25
$38.8M
$120.6M
Q1 25
$46.8M
$126.4M
Q4 24
$57.2M
Q3 24
$72.0M
Q2 24
$85.9M
Q1 24
$104.2M
Total Assets
BOLT
BOLT
PONY
PONY
Q4 25
$56.7M
Q3 25
$65.1M
$126.5M
Q2 25
$75.5M
$138.3M
Q1 25
$85.9M
$134.0M
Q4 24
$99.6M
Q3 24
$109.3M
Q2 24
$124.2M
Q1 24
$142.9M

Cash Flow & Capital Efficiency

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

Metric
BOLT
BOLT
PONY
PONY
Operating Cash FlowLast quarter
$-7.2M
$-2.9M
Free Cash FlowOCF − Capex
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
BOLT
BOLT
PONY
PONY
Q4 25
$-7.2M
Q3 25
$-9.7M
$-2.9M
Q2 25
$-9.6M
$-2.5M
Q1 25
$-13.4M
$-7.5M
Q4 24
$-14.4M
Q3 24
$-14.0M
Q2 24
$-16.1M
Q1 24
$-16.8M
Free Cash Flow
BOLT
BOLT
PONY
PONY
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
$-14.0M
Q2 24
Q1 24
FCF Margin
BOLT
BOLT
PONY
PONY
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
-1227.6%
Q2 24
Q1 24
Capex Intensity
BOLT
BOLT
PONY
PONY
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
3.6%
Q2 24
0.0%
Q1 24
0.0%

Financial Flow Comparison

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

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