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Side-by-side financial comparison of CSP INC (CSPI) and CytomX Therapeutics, Inc. (CTMX). Click either name above to swap in a different company.
CytomX Therapeutics, Inc. is the larger business by last-quarter revenue ($18.7M vs $12.0M, roughly 1.6× CSP INC). CSP INC runs the higher net margin — 0.8% vs -0.8%, a 1.6% gap on every dollar of revenue. On growth, CSP INC posted the faster year-over-year revenue change (-23.2% vs -25.7%). CSP INC produced more free cash flow last quarter ($-3.0M vs $-15.8M). Over the past eight quarters, CSP INC's revenue compounded faster (-6.3% CAGR vs -15.9%).
CSP Inc. is a U.S.-based technology firm offering cybersecurity solutions, managed IT services, high-performance computing systems, and IT consulting support. It serves enterprises across healthcare, finance, manufacturing, and public sectors in North America and select global markets.
CytomX Therapeutics is a clinical-stage biotechnology company specializing in innovative cancer immunotherapies. It leverages its proprietary Probody technology platform to develop targeted therapies that activate exclusively in tumor microenvironments, minimizing off-target toxicities, with a pipeline covering multiple solid tumor indications and partnerships with leading global pharmaceutical firms.
CSPI vs CTMX — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.0M | $18.7M |
| Net Profit | $91.0K | $-154.0K |
| Gross Margin | 39.3% | — |
| Operating Margin | -0.9% | -6.9% |
| Net Margin | 0.8% | -0.8% |
| Revenue YoY | -23.2% | -25.7% |
| Net Profit YoY | -80.7% | 97.6% |
| EPS (diluted) | $0.01 | — |
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 | $12.0M | — | ||
| Q3 25 | $14.5M | — | ||
| Q2 25 | $15.4M | $18.7M | ||
| Q1 25 | $13.1M | $50.9M | ||
| Q4 24 | $15.7M | $38.1M | ||
| Q3 24 | $13.0M | $33.4M | ||
| Q2 24 | $13.1M | $25.1M | ||
| Q1 24 | $13.7M | $41.5M |
| Q4 25 | $91.0K | — | ||
| Q3 25 | $-191.0K | — | ||
| Q2 25 | $-264.0K | $-154.0K | ||
| Q1 25 | $-108.0K | $23.5M | ||
| Q4 24 | $472.0K | $18.9M | ||
| Q3 24 | $-1.7M | $5.7M | ||
| Q2 24 | $-185.0K | $-6.5M | ||
| Q1 24 | $1.6M | $13.8M |
| Q4 25 | 39.3% | — | ||
| Q3 25 | 36.6% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 32.0% | — | ||
| Q4 24 | 29.1% | — | ||
| Q3 24 | 28.4% | — | ||
| Q2 24 | 35.0% | — | ||
| Q1 24 | 47.3% | — |
| Q4 25 | -0.9% | — | ||
| Q3 25 | -3.7% | — | ||
| Q2 25 | -7.9% | -6.9% | ||
| Q1 25 | -7.6% | 44.4% | ||
| Q4 24 | -2.3% | 46.4% | ||
| Q3 24 | -15.7% | 12.3% | ||
| Q2 24 | -5.5% | -33.7% | ||
| Q1 24 | 9.0% | 28.1% |
| Q4 25 | 0.8% | — | ||
| Q3 25 | -1.3% | — | ||
| Q2 25 | -1.7% | -0.8% | ||
| Q1 25 | -0.8% | 46.2% | ||
| Q4 24 | 3.0% | 49.6% | ||
| Q3 24 | -12.7% | 17.2% | ||
| Q2 24 | -1.4% | -26.0% | ||
| Q1 24 | 11.6% | 33.3% |
| Q4 25 | $0.01 | — | ||
| Q3 25 | $-0.02 | — | ||
| Q2 25 | $-0.03 | — | ||
| Q1 25 | $-0.01 | — | ||
| Q4 24 | $0.05 | — | ||
| Q3 24 | $-0.17 | — | ||
| Q2 24 | $-0.02 | — | ||
| Q1 24 | $0.16 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.9M | $49.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $44.8M | $119.9M |
| Total Assets | $69.2M | $175.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | — | ||
| Q3 25 | $27.4M | — | ||
| Q2 25 | $26.3M | $49.0M | ||
| Q1 25 | $29.5M | $47.6M | ||
| Q4 24 | $30.7M | $38.1M | ||
| Q3 24 | $30.6M | $40.6M | ||
| Q2 24 | $28.9M | $43.2M | ||
| Q1 24 | $27.1M | $36.2M |
| Q4 25 | $44.8M | — | ||
| Q3 25 | $44.6M | — | ||
| Q2 25 | $47.5M | $119.9M | ||
| Q1 25 | $47.5M | $25.0M | ||
| Q4 24 | $47.5M | $-456.0K | ||
| Q3 24 | $47.3M | $-23.5M | ||
| Q2 24 | $48.1M | $-31.2M | ||
| Q1 24 | $48.2M | $-31.7M |
| Q4 25 | $69.2M | — | ||
| Q3 25 | $71.2M | — | ||
| Q2 25 | $66.8M | $175.1M | ||
| Q1 25 | $67.1M | $98.5M | ||
| Q4 24 | $67.5M | $120.5M | ||
| Q3 24 | $69.4M | $139.0M | ||
| Q2 24 | $66.8M | $159.2M | ||
| Q1 24 | $64.2M | $184.7M |
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 | $-2.9M | $-15.8M |
| Free Cash FlowOCF − Capex | $-3.0M | $-15.8M |
| FCF MarginFCF / Revenue | -25.1% | -84.6% |
| Capex IntensityCapex / Revenue | 0.9% | 0.1% |
| Cash ConversionOCF / Net Profit | -32.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-2.8M | $-77.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | — | ||
| Q3 25 | $1.9M | — | ||
| Q2 25 | $-3.3M | $-15.8M | ||
| Q1 25 | $1.9M | $-21.0M | ||
| Q4 24 | $1.7M | $-19.9M | ||
| Q3 24 | $-1.5M | $-20.7M | ||
| Q2 24 | $2.4M | $-19.5M | ||
| Q1 24 | $1.7M | $-26.0M |
| Q4 25 | $-3.0M | — | ||
| Q3 25 | $1.7M | — | ||
| Q2 25 | $-3.3M | $-15.8M | ||
| Q1 25 | $1.9M | $-21.2M | ||
| Q4 24 | $1.7M | $-20.0M | ||
| Q3 24 | $-1.5M | $-20.7M | ||
| Q2 24 | $2.4M | $-19.6M | ||
| Q1 24 | $1.6M | $-26.2M |
| Q4 25 | -25.1% | — | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | -21.7% | -84.6% | ||
| Q1 25 | 14.5% | -41.6% | ||
| Q4 24 | 10.8% | -52.5% | ||
| Q3 24 | -11.7% | -62.1% | ||
| Q2 24 | 17.9% | -78.2% | ||
| Q1 24 | 11.9% | -63.1% |
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 0.4% | 0.1% | ||
| Q1 25 | 0.1% | 0.2% | ||
| Q4 24 | 0.3% | 0.2% | ||
| Q3 24 | 0.1% | 0.1% | ||
| Q2 24 | 0.3% | 0.4% | ||
| Q1 24 | 0.1% | 0.3% |
| Q4 25 | -32.04× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -0.89× | ||
| Q4 24 | 3.69× | -1.05× | ||
| Q3 24 | — | -3.61× | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.04× | -1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSPI
| Products | $6.7M | 56% |
| Services | $5.3M | 44% |
CTMX
| Bristol Myers Squibb Company | $11.6M | 62% |
| Astellas Pharma Inc | $4.6M | 25% |
| Regeneron Pharmaceuticals Inc | $2.1M | 11% |
