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Side-by-side financial comparison of CytomX Therapeutics, Inc. (CTMX) and KKR Real Estate Finance Trust Inc. (KREF). Click either name above to swap in a different company.
KKR Real Estate Finance Trust Inc. is the larger business by last-quarter revenue ($25.8M vs $18.7M, roughly 1.4× CytomX Therapeutics, Inc.). CytomX Therapeutics, Inc. runs the higher net margin — -0.8% vs -101.7%, a 100.9% gap on every dollar of revenue. On growth, CytomX Therapeutics, Inc. posted the faster year-over-year revenue change (-25.7% vs -26.6%). Over the past eight quarters, CytomX Therapeutics, Inc.'s revenue compounded faster (-15.9% CAGR vs -18.8%).
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.
KKR Real Estate Finance Trust Inc. is a specialized real estate finance firm sponsored by global investment firm KKR. It primarily originates, acquires, and manages a portfolio of senior secured commercial real estate loans, mostly backed by high-quality institutional commercial properties across the United States, delivering stable risk-adjusted returns to investors via interest income from its diversified assets.
CTMX vs KREF — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $18.7M | $25.8M |
| Net Profit | $-154.0K | $-26.2M |
| Gross Margin | — | — |
| Operating Margin | -6.9% | -105.1% |
| Net Margin | -0.8% | -101.7% |
| Revenue YoY | -25.7% | -26.6% |
| Net Profit YoY | 97.6% | -229.6% |
| EPS (diluted) | — | $-0.49 |
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 | — | $25.8M | ||
| Q3 25 | — | $25.3M | ||
| Q2 25 | $18.7M | $30.2M | ||
| Q1 25 | $50.9M | $31.3M | ||
| Q4 24 | $38.1M | $35.1M | ||
| Q3 24 | $33.4M | $37.0M | ||
| Q2 24 | $25.1M | $40.4M | ||
| Q1 24 | $41.5M | $39.1M |
| Q4 25 | — | $-26.2M | ||
| Q3 25 | — | $13.8M | ||
| Q2 25 | $-154.0K | $-29.7M | ||
| Q1 25 | $23.5M | $-4.9M | ||
| Q4 24 | $18.9M | $20.3M | ||
| Q3 24 | $5.7M | $-7.4M | ||
| Q2 24 | $-6.5M | $25.8M | ||
| Q1 24 | $13.8M | $-3.1M |
| Q4 25 | — | -105.1% | ||
| Q3 25 | — | 50.4% | ||
| Q2 25 | -6.9% | -101.3% | ||
| Q1 25 | 44.4% | -18.3% | ||
| Q4 24 | 46.4% | 55.8% | ||
| Q3 24 | 12.3% | -19.6% | ||
| Q2 24 | -33.7% | 63.3% | ||
| Q1 24 | 28.1% | -8.7% |
| Q4 25 | — | -101.7% | ||
| Q3 25 | — | 54.4% | ||
| Q2 25 | -0.8% | -98.5% | ||
| Q1 25 | 46.2% | -15.5% | ||
| Q4 24 | 49.6% | 57.7% | ||
| Q3 24 | 17.2% | -20.0% | ||
| Q2 24 | -26.0% | 63.9% | ||
| Q1 24 | 33.3% | -7.9% |
| Q4 25 | — | $-0.49 | ||
| Q3 25 | — | $0.12 | ||
| Q2 25 | — | $-0.53 | ||
| Q1 25 | — | $-0.15 | ||
| Q4 24 | — | $0.22 | ||
| Q3 24 | — | $-0.19 | ||
| Q2 24 | — | $0.29 | ||
| Q1 24 | — | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $49.0M | $84.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $119.9M | $1.2B |
| Total Assets | $175.1M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $84.6M | ||
| Q3 25 | — | $204.1M | ||
| Q2 25 | $49.0M | $107.7M | ||
| Q1 25 | $47.6M | $106.4M | ||
| Q4 24 | $38.1M | $104.9M | ||
| Q3 24 | $40.6M | $108.8M | ||
| Q2 24 | $43.2M | $107.2M | ||
| Q1 24 | $36.2M | $106.5M |
| Q4 25 | — | $1.2B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | $119.9M | $1.2B | ||
| Q1 25 | $25.0M | $1.3B | ||
| Q4 24 | $-456.0K | $1.3B | ||
| Q3 24 | $-23.5M | $1.4B | ||
| Q2 24 | $-31.2M | $1.4B | ||
| Q1 24 | $-31.7M | $1.4B |
| Q4 25 | — | $6.5B | ||
| Q3 25 | — | $6.5B | ||
| Q2 25 | $175.1M | $6.8B | ||
| Q1 25 | $98.5M | $6.6B | ||
| Q4 24 | $120.5M | $6.4B | ||
| Q3 24 | $139.0M | $6.8B | ||
| Q2 24 | $159.2M | $7.1B | ||
| Q1 24 | $184.7M | $7.3B |
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 | $-15.8M | $72.3M |
| Free Cash FlowOCF − Capex | $-15.8M | — |
| FCF MarginFCF / Revenue | -84.6% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-77.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $72.3M | ||
| Q3 25 | — | $18.5M | ||
| Q2 25 | $-15.8M | $21.1M | ||
| Q1 25 | $-21.0M | $15.9M | ||
| Q4 24 | $-19.9M | $132.6M | ||
| Q3 24 | $-20.7M | $49.1M | ||
| Q2 24 | $-19.5M | $30.6M | ||
| Q1 24 | $-26.0M | $34.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-15.8M | — | ||
| Q1 25 | $-21.2M | — | ||
| Q4 24 | $-20.0M | — | ||
| Q3 24 | $-20.7M | — | ||
| Q2 24 | $-19.6M | — | ||
| Q1 24 | $-26.2M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -84.6% | — | ||
| Q1 25 | -41.6% | — | ||
| Q4 24 | -52.5% | — | ||
| Q3 24 | -62.1% | — | ||
| Q2 24 | -78.2% | — | ||
| Q1 24 | -63.1% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 0.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.89× | — | ||
| Q4 24 | -1.05× | 6.54× | ||
| Q3 24 | -3.61× | — | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | -1.89× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CTMX
| Bristol Myers Squibb Company | $11.6M | 62% |
| Astellas Pharma Inc | $4.6M | 25% |
| Regeneron Pharmaceuticals Inc | $2.1M | 11% |
KREF
Segment breakdown not available.
