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Side-by-side financial comparison of BioXcel Therapeutics, Inc. (BTAI) and MICROVISION, INC. (MVIS). Click either name above to swap in a different company.
BioXcel Therapeutics, Inc. is the larger business by last-quarter revenue ($256.0K vs $223.0K, roughly 1.1× MICROVISION, INC.). On growth, BioXcel Therapeutics, Inc. posted the faster year-over-year revenue change (-30.1% vs -86.5%). Over the past eight quarters, BioXcel Therapeutics, Inc.'s revenue compounded faster (-33.7% CAGR vs -51.7%).
BioXcel Therapeutics, Inc. is a clinical-stage biopharmaceutical firm that leverages artificial intelligence to accelerate drug discovery and development. Its core focus is on neuroscience and immuno-oncology therapies addressing unmet medical needs, primarily serving markets in North America with candidates targeting rare and hard-to-treat conditions.
MicroVision Inc. is a technology company specializing in advanced LiDAR sensors, miniature display solutions, and perception software. Its core products serve automotive ADAS, augmented reality devices, consumer electronics, and industrial automation markets, delivering high-precision, low-power sensing technologies for next-generation smart applications.
BTAI vs MVIS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $256.0K | $223.0K |
| Net Profit | $-12.5M | — |
| Gross Margin | 87.5% | — |
| Operating Margin | -4016.4% | — |
| Net Margin | -4900.4% | — |
| Revenue YoY | -30.1% | -86.5% |
| Net Profit YoY | -15.5% | -21.2% |
| EPS (diluted) | $0.40 | — |
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.
| Q4 25 | $256.0K | $223.0K | ||
| Q3 25 | $98.0K | $241.0K | ||
| Q2 25 | $120.0K | $155.0K | ||
| Q1 25 | $168.0K | $589.0K | ||
| Q4 24 | $366.0K | $1.6M | ||
| Q3 24 | $214.0K | $190.0K | ||
| Q2 24 | $1.1M | $1.9M | ||
| Q1 24 | $582.0K | $956.0K |
| Q4 25 | $-12.5M | — | ||
| Q3 25 | $-30.9M | $-14.2M | ||
| Q2 25 | $-19.2M | $-14.2M | ||
| Q1 25 | $-7.3M | $-28.8M | ||
| Q4 24 | $-10.9M | $-31.2M | ||
| Q3 24 | $-13.7M | $-15.5M | ||
| Q2 24 | $-8.3M | $-23.9M | ||
| Q1 24 | $-26.8M | $-26.3M |
| Q4 25 | 87.5% | — | ||
| Q3 25 | 88.8% | — | ||
| Q2 25 | 10.8% | — | ||
| Q1 25 | 91.7% | 6.6% | ||
| Q4 24 | -127.0% | -149.5% | ||
| Q3 24 | -446.7% | — | ||
| Q2 24 | 94.4% | 18.2% | ||
| Q1 24 | 86.3% | -33.6% |
| Q4 25 | -4016.4% | — | ||
| Q3 25 | -14518.4% | -5278.4% | ||
| Q2 25 | -13210.0% | -9455.5% | ||
| Q1 25 | -6011.3% | -2383.7% | ||
| Q4 24 | -2866.9% | -1119.5% | ||
| Q3 24 | -7146.3% | -8266.3% | ||
| Q2 24 | -1566.7% | -1296.4% | ||
| Q1 24 | -4151.7% | -2793.9% |
| Q4 25 | -4900.4% | — | ||
| Q3 25 | -31541.8% | -5899.2% | ||
| Q2 25 | -15989.2% | -9180.0% | ||
| Q1 25 | -4317.9% | -4886.1% | ||
| Q4 24 | -2966.9% | -1888.2% | ||
| Q3 24 | -6378.5% | -8166.8% | ||
| Q2 24 | -751.7% | -1259.5% | ||
| Q1 24 | -4603.3% | -2752.4% |
| Q4 25 | $0.40 | — | ||
| Q3 25 | $-2.18 | $-0.05 | ||
| Q2 25 | $-2.45 | $-0.06 | ||
| Q1 25 | $-1.50 | $-0.12 | ||
| Q4 24 | $-1.17 | $-0.15 | ||
| Q3 24 | $-5.15 | $-0.07 | ||
| Q2 24 | $-3.30 | $-0.11 | ||
| Q1 24 | $-13.89 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $28.4M | $74.9M |
| Total DebtLower is stronger | $109.6M | $19.2M |
| Stockholders' EquityBook value | $-95.5M | $55.5M |
| Total Assets | $44.9M | $103.1M |
| Debt / EquityLower = less leverage | — | 0.35× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.4M | $74.9M | ||
| Q3 25 | $36.2M | $99.5M | ||
| Q2 25 | $17.4M | $91.4M | ||
| Q1 25 | $31.0M | $69.0M | ||
| Q4 24 | $29.9M | $74.7M | ||
| Q3 24 | $40.4M | $43.2M | ||
| Q2 24 | $56.3M | $56.6M | ||
| Q1 24 | $74.1M | $73.1M |
| Q4 25 | $109.6M | $19.2M | ||
| Q3 25 | $109.1M | $29.0M | ||
| Q2 25 | $108.7M | $32.3M | ||
| Q1 25 | $105.5M | $30.1M | ||
| Q4 24 | $102.5M | $33.0M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-95.5M | $55.5M | ||
| Q3 25 | $-88.9M | $90.7M | ||
| Q2 25 | $-107.7M | $77.1M | ||
| Q1 25 | $-90.2M | $53.2M | ||
| Q4 24 | $-93.1M | $48.8M | ||
| Q3 24 | $-85.6M | $65.9M | ||
| Q2 24 | $-74.3M | $78.7M | ||
| Q1 24 | $-72.4M | $93.8M |
| Q4 25 | $44.9M | $103.1M | ||
| Q3 25 | $44.8M | $150.8M | ||
| Q2 25 | $25.8M | $140.6M | ||
| Q1 25 | $38.6M | $116.7M | ||
| Q4 24 | $38.3M | $121.2M | ||
| Q3 24 | $48.9M | $88.3M | ||
| Q2 24 | $65.4M | $103.4M | ||
| Q1 24 | $82.3M | $124.2M |
| Q4 25 | — | 0.35× | ||
| Q3 25 | — | 0.32× | ||
| Q2 25 | — | 0.42× | ||
| Q1 25 | — | 0.57× | ||
| Q4 24 | — | 0.68× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-14.2M | $-58.7M |
| Free Cash FlowOCF − Capex | — | $-59.4M |
| FCF MarginFCF / Revenue | — | -26636.3% |
| Capex IntensityCapex / Revenue | — | 304.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-103.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-14.2M | $-58.7M | ||
| Q3 25 | $-18.8M | $-16.5M | ||
| Q2 25 | $-12.6M | $-12.7M | ||
| Q1 25 | $-12.0M | $-14.1M | ||
| Q4 24 | $-14.8M | $-15.1M | ||
| Q3 24 | $-16.3M | $-14.1M | ||
| Q2 24 | $-23.2M | $-18.6M | ||
| Q1 24 | $-17.7M | $-20.8M |
| Q4 25 | — | $-59.4M | ||
| Q3 25 | — | $-16.6M | ||
| Q2 25 | — | $-12.9M | ||
| Q1 25 | — | $-14.2M | ||
| Q4 24 | — | $-15.2M | ||
| Q3 24 | — | $-14.1M | ||
| Q2 24 | — | $-18.8M | ||
| Q1 24 | — | $-20.9M |
| Q4 25 | — | -26636.3% | ||
| Q3 25 | — | -6894.6% | ||
| Q2 25 | — | -8346.5% | ||
| Q1 25 | — | -2410.4% | ||
| Q4 24 | — | -918.7% | ||
| Q3 24 | — | -7421.1% | ||
| Q2 24 | — | -989.5% | ||
| Q1 24 | — | -2183.4% |
| Q4 25 | — | 304.5% | ||
| Q3 25 | 0.0% | 53.1% | ||
| Q2 25 | — | 134.2% | ||
| Q1 25 | — | 16.8% | ||
| Q4 24 | — | 6.2% | ||
| Q3 24 | 0.0% | 4.7% | ||
| Q2 24 | — | 8.7% | ||
| Q1 24 | — | 11.9% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
