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Side-by-side financial comparison of BTCS Inc. (BTCS) and FENNEC PHARMACEUTICALS INC. (FENC). Click either name above to swap in a different company.
FENNEC PHARMACEUTICALS INC. is the larger business by last-quarter revenue ($13.8M vs $7.1M, roughly 1.9× BTCS Inc.). On growth, BTCS Inc. posted the faster year-over-year revenue change (205.5% vs 73.8%). Over the past eight quarters, BTCS Inc.'s revenue compounded faster (296.4% CAGR vs -26.3%).
Fennec Pharmaceuticals Inc. is a biopharmaceutical firm focused on developing and commercializing therapies to reduce treatment-related side effects in pediatric cancer patients. Its lead product targets chemotherapy-induced ototoxicity, with core North American markets serving oncology providers and vulnerable pediatric patient groups.
BTCS vs FENC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $13.8M |
| Net Profit | — | $-4.8M |
| Gross Margin | 12.4% | — |
| Operating Margin | — | -18.5% |
| Net Margin | — | -34.7% |
| Revenue YoY | 205.5% | 73.8% |
| Net Profit YoY | — | -141.1% |
| EPS (diluted) | $-1.58 | $-0.17 |
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 | $7.1M | $13.8M | ||
| Q3 25 | $4.9M | $12.5M | ||
| Q2 25 | $2.8M | $9.7M | ||
| Q1 25 | $1.7M | $8.8M | ||
| Q4 24 | $2.3M | $7.9M | ||
| Q3 24 | $739.2K | $7.0M | ||
| Q2 24 | $561.2K | $7.3M | ||
| Q1 24 | $451.4K | $25.4M |
| Q4 25 | — | $-4.8M | ||
| Q3 25 | $65.6M | $-638.0K | ||
| Q2 25 | $3.9M | $-3.2M | ||
| Q1 25 | $-17.3M | $-1.2M | ||
| Q4 24 | — | $-2.0M | ||
| Q3 24 | $-9.0M | $-5.7M | ||
| Q2 24 | $-6.7M | $-5.6M | ||
| Q1 24 | $12.3M | $12.8M |
| Q4 25 | 12.4% | — | ||
| Q3 25 | 22.0% | — | ||
| Q2 25 | -2.9% | — | ||
| Q1 25 | 7.1% | — | ||
| Q4 24 | 2.9% | — | ||
| Q3 24 | 26.5% | — | ||
| Q2 24 | 69.9% | — | ||
| Q1 24 | 64.4% | — |
| Q4 25 | — | -18.5% | ||
| Q3 25 | — | -1.5% | ||
| Q2 25 | — | -28.3% | ||
| Q1 25 | — | -9.2% | ||
| Q4 24 | — | -11.8% | ||
| Q3 24 | — | -74.6% | ||
| Q2 24 | — | -69.4% | ||
| Q1 24 | — | 54.2% |
| Q4 25 | — | -34.7% | ||
| Q3 25 | 1328.1% | -5.1% | ||
| Q2 25 | 140.0% | -32.7% | ||
| Q1 25 | -1022.5% | -13.3% | ||
| Q4 24 | — | -25.0% | ||
| Q3 24 | -1223.0% | -82.2% | ||
| Q2 24 | -1198.9% | -76.5% | ||
| Q1 24 | 2715.3% | 50.6% |
| Q4 25 | $-1.58 | $-0.17 | ||
| Q3 25 | $1.30 | $-0.02 | ||
| Q2 25 | $0.14 | $-0.11 | ||
| Q1 25 | $-0.86 | $-0.04 | ||
| Q4 24 | $0.28 | $-0.02 | ||
| Q3 24 | $-0.56 | $-0.21 | ||
| Q2 24 | $-0.43 | $-0.20 | ||
| Q1 24 | $0.63 | $0.41 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5M | $36.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $139.4M | $35.5M |
| Total Assets | $214.6M | $70.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $36.8M | ||
| Q3 25 | $4.5M | $21.9M | ||
| Q2 25 | $639.2K | $18.7M | ||
| Q1 25 | $269.9K | $22.7M | ||
| Q4 24 | $2.0M | $26.6M | ||
| Q3 24 | $254.5K | $40.3M | ||
| Q2 24 | $536.7K | $43.1M | ||
| Q1 24 | $670.6K | $51.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | $19.4M | ||
| Q2 25 | — | $19.4M | ||
| Q1 25 | — | $19.4M | ||
| Q4 24 | — | $19.3M | ||
| Q3 24 | — | $32.1M | ||
| Q2 24 | — | $31.8M | ||
| Q1 24 | — | $31.3M |
| Q4 25 | $139.4M | $35.5M | ||
| Q3 25 | $225.4M | $-4.5M | ||
| Q2 25 | $31.1M | $-7.5M | ||
| Q1 25 | $20.6M | $-5.9M | ||
| Q4 24 | $34.0M | $-5.9M | ||
| Q3 24 | $25.2M | $-5.2M | ||
| Q2 24 | $33.1M | $-1.4M | ||
| Q1 24 | $39.3M | $3.0M |
| Q4 25 | $214.6M | $70.6M | ||
| Q3 25 | $298.9M | $49.3M | ||
| Q2 25 | $40.8M | $44.9M | ||
| Q1 25 | $21.0M | $46.4M | ||
| Q4 24 | $38.2M | $44.9M | ||
| Q3 24 | $26.5M | $58.9M | ||
| Q2 24 | $33.8M | $63.2M | ||
| Q1 24 | $39.5M | $69.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 10.40× |
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 | $-9.8M | $-6.0M |
| Free Cash FlowOCF − Capex | $-9.8M | — |
| FCF MarginFCF / Revenue | -138.1% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-15.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.8M | $-6.0M | ||
| Q3 25 | $-2.8M | $1.5M | ||
| Q2 25 | $-1.3M | $-3.7M | ||
| Q1 25 | $-1.9M | $-4.3M | ||
| Q4 24 | $-3.5M | $-1.5M | ||
| Q3 24 | $-695.2K | $-2.2M | ||
| Q2 24 | $-924.1K | $-8.4M | ||
| Q1 24 | $-769.0K | $39.0M |
| Q4 25 | $-9.8M | — | ||
| Q3 25 | $-2.8M | — | ||
| Q2 25 | $-1.3M | — | ||
| Q1 25 | $-1.9M | — | ||
| Q4 24 | $-3.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -138.1% | — | ||
| Q3 25 | -56.7% | — | ||
| Q2 25 | -48.2% | — | ||
| Q1 25 | -112.7% | — | ||
| Q4 24 | -152.2% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -0.04× | — | ||
| Q2 25 | -0.34× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.06× | 3.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTCS
| Builder Plus | $5.9M | 83% |
| Other | $1.2M | 17% |
FENC
Segment breakdown not available.
