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Side-by-side financial comparison of Cardio Diagnostics Holdings, Inc. (CDIO) and Cartesian Therapeutics, Inc. (RNAC). Click either name above to swap in a different company.

Cardio Diagnostics Holdings, Inc. produced more free cash flow last quarter ($-5.9M vs $-18.2M).

Cardio Diagnostics Holdings, Inc. is a precision cardiovascular healthcare company that develops and commercializes integrated genetic and epigenetic diagnostic tests for early detection of coronary heart disease, heart failure, and other cardiovascular conditions. It primarily serves healthcare providers, clinical laboratories, and patients across the United States, focusing on delivering accessible, personalized cardiovascular care solutions.

Cartesian Therapeutics is a clinical-stage biopharmaceutical company specializing in RNA-engineered cell therapies for oncology, autoimmune disorders and rare diseases. It operates primarily in the U.S. market, focusing on next-generation CAR-T and immune cell therapies, advancing multiple candidates through mid-stage clinical trials with leading medical research partners.

CDIO vs RNAC — Head-to-Head

Bigger by revenue
CDIO
CDIO
Infinity× larger
CDIO
$3.6K
$0
RNAC
More free cash flow
CDIO
CDIO
$12.3M more FCF
CDIO
$-5.9M
$-18.2M
RNAC

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
CDIO
CDIO
RNAC
RNAC
Revenue
$3.6K
$0
Net Profit
$-92.6M
Gross Margin
Operating Margin
Net Margin
Revenue YoY
-21.2%
Net Profit YoY
3.6%
-802.9%
EPS (diluted)
$-3.46

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
CDIO
CDIO
RNAC
RNAC
Q4 25
$3.6K
$0
Q3 25
$2.9K
$0
Q2 25
$7.5K
$0
Q4 24
$4.5K
$-836.0K
Q3 24
$6.6K
$0
Q2 24
$7.9K
$33.3M
Q1 24
$15.9K
$5.8M
Q4 23
$8.3M
Net Profit
CDIO
CDIO
RNAC
RNAC
Q4 25
$-92.6M
Q3 25
$-1.7M
$-35.9M
Q2 25
$-1.7M
$15.9M
Q4 24
$-10.3M
Q3 24
$-1.4M
$-24.2M
Q2 24
$-1.3M
$13.8M
Q1 24
$-4.2M
$-56.8M
Q4 23
$-177.7M
Operating Margin
CDIO
CDIO
RNAC
RNAC
Q4 25
Q3 25
-59950.9%
Q2 25
-22457.5%
Q4 24
3197.5%
Q3 24
-21412.9%
Q2 24
-16295.6%
41.3%
Q1 24
-26105.3%
-228.6%
Q4 23
-439.5%
Net Margin
CDIO
CDIO
RNAC
RNAC
Q4 25
Q3 25
-60053.8%
Q2 25
-22517.7%
Q4 24
1226.4%
Q3 24
-21467.6%
Q2 24
-16365.9%
41.6%
Q1 24
-26140.0%
-973.0%
Q4 23
-2149.3%
EPS (diluted)
CDIO
CDIO
RNAC
RNAC
Q4 25
$-3.46
Q3 25
$-0.98
$-1.38
Q2 25
$-0.97
$0.50
Q4 24
$6.60
Q3 24
$-1.73
$-1.13
Q2 24
$-1.71
$0.54
Q1 24
$-5.93
$-10.50
Q4 23
$-41.55

Balance Sheet & Financial Strength

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

Metric
CDIO
CDIO
RNAC
RNAC
Cash + ST InvestmentsLiquidity on hand
$125.1M
Total DebtLower is stronger
Stockholders' EquityBook value
$7.0M
$-126.2M
Total Assets
$7.8M
$296.4M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
CDIO
CDIO
RNAC
RNAC
Q4 25
$125.1M
Q3 25
$143.4M
Q2 25
$160.3M
Q4 24
$212.6M
Q3 24
$219.2M
Q2 24
$87.2M
Q1 24
$103.4M
Q4 23
$76.9M
Stockholders' Equity
CDIO
CDIO
RNAC
RNAC
Q4 25
$7.0M
$-126.2M
Q3 25
$8.2M
$-35.8M
Q2 25
$9.7M
$-2.5M
Q4 24
$9.6M
$-6.8M
Q3 24
$3.7M
$752.0K
Q2 24
$3.1M
$-101.5M
Q1 24
$3.0M
$-116.8M
Q4 23
$-440.2M
Total Assets
CDIO
CDIO
RNAC
RNAC
Q4 25
$7.8M
$296.4M
Q3 25
$8.8M
$372.7M
Q2 25
$10.4M
$388.9M
Q4 24
$10.6M
$435.0M
Q3 24
$4.5M
$455.3M
Q2 24
$4.0M
$347.7M
Q1 24
$4.3M
$325.2M
Q4 23
$305.1M

Cash Flow & Capital Efficiency

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

Metric
CDIO
CDIO
RNAC
RNAC
Operating Cash FlowLast quarter
$-5.7M
$-17.7M
Free Cash FlowOCF − Capex
$-5.9M
$-18.2M
FCF MarginFCF / Revenue
-166361.5%
Capex IntensityCapex / Revenue
5269.1%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-14.3M
$-62.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CDIO
CDIO
RNAC
RNAC
Q4 25
$-5.7M
$-17.7M
Q3 25
$-1.4M
$-15.6M
Q2 25
$-1.6M
$-17.5M
Q4 24
$-5.0M
$-7.0M
Q3 24
$-1.2M
$13.7M
Q2 24
$-1.2M
$-14.4M
Q1 24
$-1.2M
$-15.9M
Q4 23
$-23.3M
Free Cash Flow
CDIO
CDIO
RNAC
RNAC
Q4 25
$-5.9M
$-18.2M
Q3 25
$-1.6M
$-16.9M
Q2 25
$-1.6M
$-20.1M
Q4 24
$-5.2M
$-7.7M
Q3 24
$-1.2M
$7.5M
Q2 24
$-1.4M
$-16.0M
Q1 24
$-1.3M
$-16.5M
Q4 23
$-23.4M
FCF Margin
CDIO
CDIO
RNAC
RNAC
Q4 25
-166361.5%
Q3 25
-54509.7%
Q2 25
-21273.1%
Q4 24
-115422.6%
921.9%
Q3 24
-17942.3%
Q2 24
-17513.3%
-48.2%
Q1 24
-7866.9%
-282.9%
Q4 23
-282.5%
Capex Intensity
CDIO
CDIO
RNAC
RNAC
Q4 25
5269.1%
Q3 25
5703.5%
Q2 25
250.1%
Q4 24
4759.9%
-84.3%
Q3 24
353.3%
Q2 24
2133.4%
4.8%
Q1 24
125.5%
10.3%
Q4 23
0.8%
Cash Conversion
CDIO
CDIO
RNAC
RNAC
Q4 25
Q3 25
Q2 25
-1.10×
Q4 24
Q3 24
Q2 24
-1.04×
Q1 24
Q4 23

Financial Flow Comparison

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

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