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Side-by-side financial comparison of CG Oncology, Inc. (CGON) and PureCycle Technologies, Inc. (PCT). Click either name above to swap in a different company.
PureCycle Technologies, Inc. is the larger business by last-quarter revenue ($2.7M vs $2.3M, roughly 1.2× CG Oncology, Inc.). PureCycle Technologies, Inc. runs the higher net margin — -697.1% vs -1779.0%, a 1081.9% gap on every dollar of revenue. CG Oncology, Inc. produced more free cash flow last quarter ($-36.2M vs $-42.0M).
CG Oncology, Inc. is a clinical-stage biotechnology company focused on developing innovative targeted immunotherapies for urological cancers including non-muscle invasive bladder cancer. It primarily operates in the U.S. market, advancing pipeline candidates to address unmet medical needs for patients with limited treatment options.
PureCycle Technologies, Inc. is a sustainable materials firm with proprietary advanced polypropylene recycling technology. It converts contaminated polypropylene waste into high-purity virgin-equivalent resin for use in consumer goods, automotive parts, packaging and industrial products, serving global partners.
CGON vs PCT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3M | $2.7M |
| Net Profit | $-41.3M | $-18.8M |
| Gross Margin | — | — |
| Operating Margin | -2097.3% | -2196.1% |
| Net Margin | -1779.0% | -697.1% |
| Revenue YoY | 409.2% | — |
| Net Profit YoY | -29.9% | 71.0% |
| EPS (diluted) | $-0.52 | $-0.14 |
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 | $2.3M | $2.7M | ||
| Q3 25 | $1.7M | $2.4M | ||
| Q2 25 | $0 | $1.6M | ||
| Q1 25 | — | $1.6M | ||
| Q4 24 | $456.0K | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | $529.0K | $0 |
| Q4 25 | $-41.3M | $-18.8M | ||
| Q3 25 | $-43.8M | $-28.4M | ||
| Q2 25 | $-41.4M | $-144.2M | ||
| Q1 25 | — | $8.8M | ||
| Q4 24 | $-31.8M | $-64.7M | ||
| Q3 24 | — | $-90.6M | ||
| Q2 24 | — | $-48.2M | ||
| Q1 24 | $-16.9M | $-85.6M |
| Q4 25 | -2097.3% | -2196.1% | ||
| Q3 25 | -3069.0% | -1602.2% | ||
| Q2 25 | — | -2763.5% | ||
| Q1 25 | — | -2387.4% | ||
| Q4 24 | -8344.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -4247.4% | — |
| Q4 25 | -1779.0% | -697.1% | ||
| Q3 25 | -2629.5% | -1167.5% | ||
| Q2 25 | — | -8741.8% | ||
| Q1 25 | — | 559.0% | ||
| Q4 24 | -6973.7% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -3200.8% | — |
| Q4 25 | $-0.52 | $-0.14 | ||
| Q3 25 | $-0.57 | $-0.31 | ||
| Q2 25 | $-0.54 | $-0.81 | ||
| Q1 25 | — | $0.05 | ||
| Q4 24 | $-0.47 | $-0.40 | ||
| Q3 24 | — | $-0.54 | ||
| Q2 24 | — | $-0.29 | ||
| Q1 24 | $-0.36 | $-0.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $742.2M | $156.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $752.6M | $45.9M |
| Total Assets | $791.6M | $922.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $742.2M | $156.7M | ||
| Q3 25 | $680.3M | $234.4M | ||
| Q2 25 | $661.1M | $284.1M | ||
| Q1 25 | — | $22.5M | ||
| Q4 24 | $742.0M | $15.7M | ||
| Q3 24 | — | $83.7M | ||
| Q2 24 | — | $10.9M | ||
| Q1 24 | $566.5M | $25.0M |
| Q4 25 | $752.6M | $45.9M | ||
| Q3 25 | $687.6M | $68.2M | ||
| Q2 25 | $670.4M | $98.9M | ||
| Q1 25 | — | $238.2M | ||
| Q4 24 | $733.4M | $180.4M | ||
| Q3 24 | — | $241.4M | ||
| Q2 24 | — | $291.6M | ||
| Q1 24 | $568.9M | $336.8M |
| Q4 25 | $791.6M | $922.7M | ||
| Q3 25 | $729.9M | $989.1M | ||
| Q2 25 | $701.4M | $1.0B | ||
| Q1 25 | — | $787.3M | ||
| Q4 24 | $754.8M | $798.4M | ||
| Q3 24 | — | $788.8M | ||
| Q2 24 | — | $719.8M | ||
| Q1 24 | $579.1M | $734.0M |
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 | $-36.2M | $-28.7M |
| Free Cash FlowOCF − Capex | $-36.2M | $-42.0M |
| FCF MarginFCF / Revenue | -1560.0% | -1559.6% |
| Capex IntensityCapex / Revenue | 0.3% | 495.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-124.1M | $-183.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-36.2M | $-28.7M | ||
| Q3 25 | $-38.9M | $-38.5M | ||
| Q2 25 | $-28.0M | $-36.7M | ||
| Q1 25 | — | $-38.9M | ||
| Q4 24 | $-20.7M | $-31.8M | ||
| Q3 24 | — | $-33.4M | ||
| Q2 24 | — | $-40.4M | ||
| Q1 24 | $-26.0M | $-39.2M |
| Q4 25 | $-36.2M | $-42.0M | ||
| Q3 25 | $-39.0M | $-42.4M | ||
| Q2 25 | $-28.0M | $-45.3M | ||
| Q1 25 | — | $-53.9M | ||
| Q4 24 | $-20.9M | $-53.4M | ||
| Q3 24 | — | $-42.6M | ||
| Q2 24 | — | $-50.8M | ||
| Q1 24 | $-26.0M | $-53.5M |
| Q4 25 | -1560.0% | -1559.6% | ||
| Q3 25 | -2340.4% | -1743.1% | ||
| Q2 25 | — | -2747.1% | ||
| Q1 25 | — | -3409.6% | ||
| Q4 24 | -4577.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -4919.5% | — |
| Q4 25 | 0.3% | 495.1% | ||
| Q3 25 | 5.8% | 160.3% | ||
| Q2 25 | — | 521.5% | ||
| Q1 25 | — | 949.6% | ||
| Q4 24 | 45.8% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -4.40× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
