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Side-by-side financial comparison of CytomX Therapeutics, Inc. (CTMX) and Velo3D, Inc. (VELO). Click either name above to swap in a different company.
CytomX Therapeutics, Inc. is the larger business by last-quarter revenue ($18.7M vs $9.4M, roughly 2.0× Velo3D, Inc.). CytomX Therapeutics, Inc. runs the higher net margin — -0.8% vs -231.9%, a 231.1% gap on every dollar of revenue. On growth, Velo3D, Inc. posted the faster year-over-year revenue change (-25.2% vs -25.7%). Velo3D, Inc. produced more free cash flow last quarter ($-8.3M vs $-15.8M). Over the past eight quarters, Velo3D, Inc.'s revenue compounded faster (-1.8% CAGR vs -15.9%).
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.
Velo3D, Inc. develops and sells advanced end-to-end metal additive manufacturing (3D printing) solutions, comprising industrial-grade printers, specialized processing software, and high-performance metal materials. It primarily serves global aerospace, defense, energy, semiconductor and industrial manufacturing markets, enabling customers to produce complex, high-precision metal parts that are difficult to manufacture with traditional methods.
CTMX vs VELO — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $18.7M | $9.4M |
| Net Profit | $-154.0K | $-21.9M |
| Gross Margin | — | -73.6% |
| Operating Margin | -6.9% | -231.0% |
| Net Margin | -0.8% | -231.9% |
| Revenue YoY | -25.7% | -25.2% |
| Net Profit YoY | 97.6% | -2.9% |
| EPS (diluted) | — | $-0.87 |
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 | — | $9.4M | ||
| Q3 25 | — | $13.6M | ||
| Q2 25 | $18.7M | $13.6M | ||
| Q1 25 | $50.9M | $9.3M | ||
| Q4 24 | $38.1M | $12.6M | ||
| Q3 24 | $33.4M | $8.2M | ||
| Q2 24 | $25.1M | $10.3M | ||
| Q1 24 | $41.5M | $9.8M |
| Q4 25 | — | $-21.9M | ||
| Q3 25 | — | $-11.2M | ||
| Q2 25 | $-154.0K | $-13.3M | ||
| Q1 25 | $23.5M | $-25.0M | ||
| Q4 24 | $18.9M | $-21.3M | ||
| Q3 24 | $5.7M | $-21.9M | ||
| Q2 24 | $-6.5M | $935.0K | ||
| Q1 24 | $13.8M | $-27.5M |
| Q4 25 | — | -73.6% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | -11.7% | ||
| Q1 25 | — | 7.5% | ||
| Q4 24 | — | -3.5% | ||
| Q3 24 | — | 49.4% | ||
| Q2 24 | — | -28.0% | ||
| Q1 24 | — | -28.8% |
| Q4 25 | — | -231.0% | ||
| Q3 25 | — | -73.3% | ||
| Q2 25 | -6.9% | -85.4% | ||
| Q1 25 | 44.4% | -123.6% | ||
| Q4 24 | 46.4% | -167.0% | ||
| Q3 24 | 12.3% | -213.8% | ||
| Q2 24 | -33.7% | -187.7% | ||
| Q1 24 | 28.1% | -211.1% |
| Q4 25 | — | -231.9% | ||
| Q3 25 | — | -82.0% | ||
| Q2 25 | -0.8% | -97.7% | ||
| Q1 25 | 46.2% | -268.4% | ||
| Q4 24 | 49.6% | -168.5% | ||
| Q3 24 | 17.2% | -265.3% | ||
| Q2 24 | -26.0% | 9.0% | ||
| Q1 24 | 33.3% | -281.2% |
| Q4 25 | — | $-0.87 | ||
| Q3 25 | — | $-0.65 | ||
| Q2 25 | — | $-0.94 | ||
| Q1 25 | — | $-1.87 | ||
| Q4 24 | — | $7.06 | ||
| Q3 24 | — | $-35.52 | ||
| Q2 24 | — | $1.65 | ||
| Q1 24 | — | $-55.51 |
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 | $39.0M |
| Total DebtLower is stronger | — | $31.0M |
| Stockholders' EquityBook value | $119.9M | $38.2M |
| Total Assets | $175.1M | $105.3M |
| Debt / EquityLower = less leverage | — | 0.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $39.0M | ||
| Q3 25 | — | $11.8M | ||
| Q2 25 | $49.0M | $854.0K | ||
| Q1 25 | $47.6M | $3.9M | ||
| Q4 24 | $38.1M | $1.2M | ||
| Q3 24 | $40.6M | $1.6M | ||
| Q2 24 | $43.2M | $3.2M | ||
| Q1 24 | $36.2M | $10.9M |
| Q4 25 | — | $31.0M | ||
| Q3 25 | — | $23.0M | ||
| Q2 25 | — | $22.5M | ||
| Q1 25 | — | $21.7M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $32.3M | ||
| Q2 24 | — | $33.5M | ||
| Q1 24 | — | $44.0M |
| Q4 25 | — | $38.2M | ||
| Q3 25 | — | $29.9M | ||
| Q2 25 | $119.9M | $21.4M | ||
| Q1 25 | $25.0M | $32.8M | ||
| Q4 24 | $-456.0K | $39.7M | ||
| Q3 24 | $-23.5M | $34.4M | ||
| Q2 24 | $-31.2M | $52.1M | ||
| Q1 24 | $-31.7M | $45.5M |
| Q4 25 | — | $105.3M | ||
| Q3 25 | — | $93.7M | ||
| Q2 25 | $175.1M | $78.4M | ||
| Q1 25 | $98.5M | $91.3M | ||
| Q4 24 | $120.5M | $89.2M | ||
| Q3 24 | $139.0M | $110.8M | ||
| Q2 24 | $159.2M | $116.7M | ||
| Q1 24 | $184.7M | $136.1M |
| Q4 25 | — | 0.81× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.97× |
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 | $-7.7M |
| Free Cash FlowOCF − Capex | $-15.8M | $-8.3M |
| FCF MarginFCF / Revenue | -84.6% | -88.3% |
| Capex IntensityCapex / Revenue | 0.1% | 6.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-77.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-7.7M | ||
| Q3 25 | — | $-6.0M | ||
| Q2 25 | $-15.8M | $-1.2M | ||
| Q1 25 | $-21.0M | $-12.3M | ||
| Q4 24 | $-19.9M | $-2.2M | ||
| Q3 24 | $-20.7M | $-2.0M | ||
| Q2 24 | $-19.5M | $-8.0M | ||
| Q1 24 | $-26.0M | $-20.5M |
| Q4 25 | — | $-8.3M | ||
| Q3 25 | — | $-6.3M | ||
| Q2 25 | $-15.8M | $-3.0M | ||
| Q1 25 | $-21.2M | — | ||
| Q4 24 | $-20.0M | $-2.2M | ||
| Q3 24 | $-20.7M | $-2.0M | ||
| Q2 24 | $-19.6M | $-8.0M | ||
| Q1 24 | $-26.2M | $-20.5M |
| Q4 25 | — | -88.3% | ||
| Q3 25 | — | -46.5% | ||
| Q2 25 | -84.6% | -22.2% | ||
| Q1 25 | -41.6% | — | ||
| Q4 24 | -52.5% | -17.7% | ||
| Q3 24 | -62.1% | -24.2% | ||
| Q2 24 | -78.2% | -77.1% | ||
| Q1 24 | -63.1% | -209.8% |
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | 0.1% | 13.3% | ||
| Q1 25 | 0.2% | 0.0% | ||
| Q4 24 | 0.2% | 0.2% | ||
| Q3 24 | 0.1% | 0.2% | ||
| Q2 24 | 0.4% | 0.0% | ||
| Q1 24 | 0.3% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.89× | — | ||
| Q4 24 | -1.05× | — | ||
| Q3 24 | -3.61× | — | ||
| Q2 24 | — | -8.52× | ||
| 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% |
VELO
Segment breakdown not available.
