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Side-by-side financial comparison of CollPlant Biotechnologies Ltd (CLGN) and Finward Bancorp (FNWD). Click either name above to swap in a different company.

Finward Bancorp is the larger business by last-quarter revenue ($16.5M vs $10.2M, roughly 1.6× CollPlant Biotechnologies Ltd). CollPlant Biotechnologies Ltd runs the higher net margin — 56.6% vs 12.0%, a 44.6% gap on every dollar of revenue. On growth, CollPlant Biotechnologies Ltd posted the faster year-over-year revenue change (15330.3% vs 1.1%).

CollPlant Biotechnologies Ltd is a regenerative medicine company focused on developing and commercializing advanced products using its proprietary plant-derived human collagen technology. Its core offerings cover wound care, soft tissue repair, and aesthetic medicine solutions, targeting key markets across North America, Europe, and Israel, serving healthcare providers in dermatology, orthopedics and cosmetic care segments.

Finward Bancorp is a U.S.-headquartered regional bank holding company. It offers a full range of retail and commercial banking products and services, including deposit accounts, personal and mortgage loans, small business financing, and wealth management solutions, primarily serving individual customers and small to mid-sized enterprises in its local operating regions.

CLGN vs FNWD — Head-to-Head

Bigger by revenue
FNWD
FNWD
1.6× larger
FNWD
$16.5M
$10.2M
CLGN
Growing faster (revenue YoY)
CLGN
CLGN
+15329.2% gap
CLGN
15330.3%
1.1%
FNWD
Higher net margin
CLGN
CLGN
44.6% more per $
CLGN
56.6%
12.0%
FNWD

Income Statement — Q2 FY2023 vs Q4 FY2025

Metric
CLGN
CLGN
FNWD
FNWD
Revenue
$10.2M
$16.5M
Net Profit
$5.8M
$2.0M
Gross Margin
94.0%
Operating Margin
55.7%
11.0%
Net Margin
56.6%
12.0%
Revenue YoY
15330.3%
1.1%
Net Profit YoY
234.5%
-5.6%
EPS (diluted)
$0.49
$0.46

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
CLGN
CLGN
FNWD
FNWD
Q4 25
$16.5M
Q3 25
$17.4M
Q2 25
$16.6M
Q1 25
$15.5M
Q4 24
$16.3M
Q3 24
$14.9M
Q2 24
$14.6M
Q1 24
$25.3M
Net Profit
CLGN
CLGN
FNWD
FNWD
Q4 25
$2.0M
Q3 25
$3.5M
Q2 25
$2.2M
Q1 25
$455.0K
Q4 24
$2.1M
Q3 24
$606.0K
Q2 24
$143.0K
Q1 24
$9.3M
Operating Margin
CLGN
CLGN
FNWD
FNWD
Q4 25
11.0%
Q3 25
20.5%
Q2 25
12.7%
Q1 25
4.0%
Q4 24
16.3%
Q3 24
2.7%
Q2 24
0.9%
Q1 24
40.6%
Net Margin
CLGN
CLGN
FNWD
FNWD
Q4 25
12.0%
Q3 25
20.1%
Q2 25
12.9%
Q1 25
2.9%
Q4 24
12.9%
Q3 24
4.1%
Q2 24
1.0%
Q1 24
36.7%
EPS (diluted)
CLGN
CLGN
FNWD
FNWD
Q4 25
$0.46
Q3 25
$0.81
Q2 25
$0.50
Q1 25
$0.11
Q4 24
$0.50
Q3 24
$0.14
Q2 24
$0.03
Q1 24
$2.17

Balance Sheet & Financial Strength

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

Metric
CLGN
CLGN
FNWD
FNWD
Cash + ST InvestmentsLiquidity on hand
$22.3M
Total DebtLower is stronger
Stockholders' EquityBook value
$36.0M
$174.7M
Total Assets
$41.6M
$2.0B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Stockholders' Equity
CLGN
CLGN
FNWD
FNWD
Q4 25
$174.7M
Q3 25
$165.5M
Q2 25
$154.3M
Q1 25
$151.8M
Q4 24
$151.4M
Q3 24
$159.6M
Q2 24
$148.6M
Q1 24
$151.6M
Total Assets
CLGN
CLGN
FNWD
FNWD
Q4 25
$2.0B
Q3 25
$2.1B
Q2 25
$2.1B
Q1 25
$2.0B
Q4 24
$2.1B
Q3 24
$2.1B
Q2 24
$2.1B
Q1 24
$2.1B

Cash Flow & Capital Efficiency

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

Metric
CLGN
CLGN
FNWD
FNWD
Operating Cash FlowLast quarter
$9.9M
Free Cash FlowOCF − Capex
$9.0M
FCF MarginFCF / Revenue
54.8%
Capex IntensityCapex / Revenue
5.2%
Cash ConversionOCF / Net Profit
4.99×
TTM Free Cash FlowTrailing 4 quarters
$10.6M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
CLGN
CLGN
FNWD
FNWD
Q4 25
$9.9M
Q3 25
$1.2M
Q2 25
$4.8M
Q1 25
$-3.8M
Q4 24
$9.8M
Q3 24
$-3.7M
Q2 24
$2.8M
Q1 24
$-25.0K
Free Cash Flow
CLGN
CLGN
FNWD
FNWD
Q4 25
$9.0M
Q3 25
$1.0M
Q2 25
$4.5M
Q1 25
$-4.0M
Q4 24
$6.7M
Q3 24
$-4.2M
Q2 24
$1.1M
Q1 24
$-736.0K
FCF Margin
CLGN
CLGN
FNWD
FNWD
Q4 25
54.8%
Q3 25
6.0%
Q2 25
27.0%
Q1 25
-25.7%
Q4 24
41.2%
Q3 24
-28.5%
Q2 24
7.6%
Q1 24
-2.9%
Capex Intensity
CLGN
CLGN
FNWD
FNWD
Q4 25
5.2%
Q3 25
0.9%
Q2 25
1.7%
Q1 25
1.2%
Q4 24
18.8%
Q3 24
3.4%
Q2 24
11.2%
Q1 24
2.8%
Cash Conversion
CLGN
CLGN
FNWD
FNWD
Q4 25
4.99×
Q3 25
0.34×
Q2 25
2.22×
Q1 25
-8.37×
Q4 24
4.66×
Q3 24
-6.15×
Q2 24
19.23×
Q1 24
-0.00×

Financial Flow Comparison

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

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