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Side-by-side financial comparison of CG Oncology, Inc. (CGON) and Peraso Inc. (PRSO). Click either name above to swap in a different company.
Peraso Inc. is the larger business by last-quarter revenue ($2.9M vs $2.3M, roughly 1.2× CG Oncology, Inc.). Peraso Inc. runs the higher net margin — -43.3% vs -1779.0%, a 1735.7% gap on every dollar of revenue. On growth, CG Oncology, Inc. posted the faster year-over-year revenue change (409.2% vs -22.0%).
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.
Peraso Inc. is a semiconductor technology firm specializing in the design and production of high-performance millimeter wave (mmWave) integrated circuits and modules. It delivers 5G and next-generation wireless connectivity solutions for telecom infrastructure, industrial IoT, fixed wireless access and consumer electronics segments, serving customers across North America, Asia Pacific and European markets.
CGON vs PRSO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3M | $2.9M |
| Net Profit | $-41.3M | $-1.2M |
| Gross Margin | — | 52.2% |
| Operating Margin | -2097.3% | -44.6% |
| Net Margin | -1779.0% | -43.3% |
| Revenue YoY | 409.2% | -22.0% |
| Net Profit YoY | -29.9% | 20.3% |
| EPS (diluted) | $-0.52 | $-0.09 |
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 | $2.9M | ||
| Q3 25 | $1.7M | $3.2M | ||
| Q2 25 | $0 | $2.2M | ||
| Q1 25 | — | $3.9M | ||
| Q4 24 | $456.0K | $3.7M | ||
| Q3 24 | — | $3.8M | ||
| Q2 24 | — | $4.2M | ||
| Q1 24 | $529.0K | $2.8M |
| Q4 25 | $-41.3M | $-1.2M | ||
| Q3 25 | $-43.8M | $-1.2M | ||
| Q2 25 | $-41.4M | $-1.8M | ||
| Q1 25 | — | $-471.0K | ||
| Q4 24 | $-31.8M | $-1.6M | ||
| Q3 24 | — | $-2.7M | ||
| Q2 24 | — | $-4.4M | ||
| Q1 24 | $-16.9M | $-2.0M |
| Q4 25 | — | 52.2% | ||
| Q3 25 | — | 56.2% | ||
| Q2 25 | — | 48.3% | ||
| Q1 25 | — | 69.3% | ||
| Q4 24 | — | 56.3% | ||
| Q3 24 | — | 47.0% | ||
| Q2 24 | — | 55.5% | ||
| Q1 24 | — | 46.4% |
| Q4 25 | -2097.3% | -44.6% | ||
| Q3 25 | -3069.0% | -36.8% | ||
| Q2 25 | — | -80.0% | ||
| Q1 25 | — | -13.3% | ||
| Q4 24 | -8344.1% | -44.3% | ||
| Q3 24 | — | -70.3% | ||
| Q2 24 | — | -105.6% | ||
| Q1 24 | -4247.4% | -128.9% |
| Q4 25 | -1779.0% | -43.3% | ||
| Q3 25 | -2629.5% | -37.4% | ||
| Q2 25 | — | -82.4% | ||
| Q1 25 | — | -12.2% | ||
| Q4 24 | -6973.7% | -42.4% | ||
| Q3 24 | — | -70.6% | ||
| Q2 24 | — | -104.4% | ||
| Q1 24 | -3200.8% | -72.1% |
| Q4 25 | $-0.52 | $-0.09 | ||
| Q3 25 | $-0.57 | $-0.17 | ||
| Q2 25 | $-0.54 | $-0.31 | ||
| Q1 25 | — | $-0.10 | ||
| Q4 24 | $-0.47 | $0.36 | ||
| Q3 24 | — | $-0.98 | ||
| Q2 24 | — | $-1.88 | ||
| Q1 24 | $-0.36 | $-1.07 |
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 | $2.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $752.6M | $4.6M |
| Total Assets | $791.6M | $6.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $742.2M | $2.9M | ||
| Q3 25 | $680.3M | — | ||
| Q2 25 | $661.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $742.0M | $3.3M | ||
| Q3 24 | — | $1.3M | ||
| Q2 24 | — | $1.9M | ||
| Q1 24 | $566.5M | $2.4M |
| Q4 25 | $752.6M | $4.6M | ||
| Q3 25 | $687.6M | $3.6M | ||
| Q2 25 | $670.4M | $3.0M | ||
| Q1 25 | — | $3.6M | ||
| Q4 24 | $733.4M | $3.5M | ||
| Q3 24 | — | $2.0M | ||
| Q2 24 | — | $3.6M | ||
| Q1 24 | $568.9M | $6.7M |
| Q4 25 | $791.6M | $6.1M | ||
| Q3 25 | $729.9M | $6.2M | ||
| Q2 25 | $701.4M | $5.5M | ||
| Q1 25 | — | $6.7M | ||
| Q4 24 | $754.8M | $7.2M | ||
| Q3 24 | — | $7.2M | ||
| Q2 24 | — | $9.8M | ||
| Q1 24 | $579.1M | $11.5M |
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 | $-1.1M |
| Free Cash FlowOCF − Capex | $-36.2M | — |
| FCF MarginFCF / Revenue | -1560.0% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-124.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-36.2M | $-1.1M | ||
| Q3 25 | $-38.9M | $-1.5M | ||
| Q2 25 | $-28.0M | $-2.0M | ||
| Q1 25 | — | $-966.0K | ||
| Q4 24 | $-20.7M | $-687.0K | ||
| Q3 24 | — | $-683.0K | ||
| Q2 24 | — | $-659.0K | ||
| Q1 24 | $-26.0M | $-2.5M |
| Q4 25 | $-36.2M | — | ||
| Q3 25 | $-39.0M | $-1.6M | ||
| Q2 25 | $-28.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-20.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $-26.0M | — |
| Q4 25 | -1560.0% | — | ||
| Q3 25 | -2340.4% | -48.9% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -4577.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -4919.5% | — |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 5.8% | 1.1% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 45.8% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.3% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CGON
Segment breakdown not available.
PRSO
| Products | $2.8M | 96% |
| Other | $105.0K | 4% |
