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Side-by-side financial comparison of Cue Biopharma, Inc. (CUE) and FREQUENCY ELECTRONICS INC (FEIM). Click either name above to swap in a different company.
Cue Biopharma, Inc. is the larger business by last-quarter revenue ($21.9M vs $17.1M, roughly 1.3× FREQUENCY ELECTRONICS INC). FREQUENCY ELECTRONICS INC runs the higher net margin — 10.5% vs 7.2%, a 3.3% gap on every dollar of revenue. On growth, Cue Biopharma, Inc. posted the faster year-over-year revenue change (1292.3% vs 8.3%). Over the past eight quarters, Cue Biopharma, Inc.'s revenue compounded faster (257.5% CAGR vs 11.8%).
Cue Biopharma is a clinical-stage biotechnology company focused on developing novel targeted immunotherapies for cancer, autoimmune disorders, and inflammatory diseases. Its proprietary platform enables precise T-cell activity modulation, with core operations in North America and global pharma partnerships to advance lead product candidates through clinical trials.
Ultra Electronics Holdings is a British defence and security company. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until it was acquired by Cobham, which is itself owned by Advent International.
CUE vs FEIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $21.9M | $17.1M |
| Net Profit | $1.6M | $1.8M |
| Gross Margin | — | 38.2% |
| Operating Margin | 9.0% | 10.0% |
| Net Margin | 7.2% | 10.5% |
| Revenue YoY | 1292.3% | 8.3% |
| Net Profit YoY | 116.7% | -32.1% |
| EPS (diluted) | $0.05 | $0.18 |
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 | $21.9M | $17.1M | ||
| Q3 25 | $2.1M | $13.8M | ||
| Q2 25 | $3.0M | $20.0M | ||
| Q1 25 | $421.0K | $18.9M | ||
| Q4 24 | $1.6M | $15.8M | ||
| Q3 24 | $3.3M | $15.1M | ||
| Q2 24 | $2.7M | $15.6M | ||
| Q1 24 | $1.7M | $13.7M |
| Q4 25 | $1.6M | $1.8M | ||
| Q3 25 | $-7.4M | $634.0K | ||
| Q2 25 | $-8.5M | $3.2M | ||
| Q1 25 | $-12.3M | $15.4M | ||
| Q4 24 | — | $2.7M | ||
| Q3 24 | $-8.7M | $2.4M | ||
| Q2 24 | $-10.2M | $2.6M | ||
| Q1 24 | $-12.3M | $130.0K |
| Q4 25 | — | 38.2% | ||
| Q3 25 | — | 36.8% | ||
| Q2 25 | — | 37.5% | ||
| Q1 25 | — | 43.8% | ||
| Q4 24 | — | 48.2% | ||
| Q3 24 | — | 44.4% | ||
| Q2 24 | — | 40.3% | ||
| Q1 24 | — | 22.6% |
| Q4 25 | 9.0% | 10.0% | ||
| Q3 25 | -353.4% | 2.6% | ||
| Q2 25 | -292.3% | 16.4% | ||
| Q1 25 | -2921.4% | 18.3% | ||
| Q4 24 | — | 16.5% | ||
| Q3 24 | -264.2% | 15.7% | ||
| Q2 24 | -390.6% | 16.0% | ||
| Q1 24 | -737.8% | -3.4% |
| Q4 25 | 7.2% | 10.5% | ||
| Q3 25 | -346.6% | 4.6% | ||
| Q2 25 | -287.1% | 16.0% | ||
| Q1 25 | -2911.4% | 81.4% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | -259.6% | 16.1% | ||
| Q2 24 | -382.7% | 16.9% | ||
| Q1 24 | -719.1% | 0.9% |
| Q4 25 | $0.05 | $0.18 | ||
| Q3 25 | $-0.07 | $0.07 | ||
| Q2 25 | $-0.09 | $0.33 | ||
| Q1 25 | $-0.17 | $1.60 | ||
| Q4 24 | — | $0.28 | ||
| Q3 24 | $-0.17 | $0.25 | ||
| Q2 24 | $-0.20 | $0.28 | ||
| Q1 24 | $-0.25 | $0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $27.1M | $3.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $26.4M | $58.5M |
| Total Assets | $42.2M | $92.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.1M | $3.0M | ||
| Q3 25 | $11.7M | $4.5M | ||
| Q2 25 | $27.5M | $4.7M | ||
| Q1 25 | $13.1M | $5.5M | ||
| Q4 24 | $22.5M | $9.7M | ||
| Q3 24 | $32.4M | $16.2M | ||
| Q2 24 | $30.0M | $18.3M | ||
| Q1 24 | $41.0M | $11.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.0M | — | ||
| Q2 24 | $2.0M | — | ||
| Q1 24 | $3.0M | — |
| Q4 25 | $26.4M | $58.5M | ||
| Q3 25 | $13.2M | $56.3M | ||
| Q2 25 | $18.2M | $55.6M | ||
| Q1 25 | $6.6M | $51.8M | ||
| Q4 24 | $17.5M | $36.2M | ||
| Q3 24 | $25.4M | $33.2M | ||
| Q2 24 | $21.6M | $39.8M | ||
| Q1 24 | $30.0M | $36.7M |
| Q4 25 | $42.2M | $92.3M | ||
| Q3 25 | $31.6M | $93.2M | ||
| Q2 25 | $40.7M | $93.7M | ||
| Q1 25 | $22.3M | $86.4M | ||
| Q4 24 | $32.2M | $77.8M | ||
| Q3 24 | $44.8M | $84.3M | ||
| Q2 24 | $42.3M | $83.3M | ||
| Q1 24 | $54.0M | $77.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.09× | — | ||
| Q1 24 | 0.10× | — |
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 | $-1.1M | $-523.0K |
| Free Cash FlowOCF − Capex | — | $-1.1M |
| FCF MarginFCF / Revenue | — | -6.6% |
| Capex IntensityCapex / Revenue | 0.0% | 3.6% |
| Cash ConversionOCF / Net Profit | -0.68× | -0.29× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-5.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.1M | $-523.0K | ||
| Q3 25 | $-9.0M | $1.2M | ||
| Q2 25 | $-3.4M | $-155.0K | ||
| Q1 25 | $-8.2M | $-3.6M | ||
| Q4 24 | $-36.3M | $3.8M | ||
| Q3 24 | $-7.5M | $-1.5M | ||
| Q2 24 | $-10.0M | $7.5M | ||
| Q1 24 | $-9.8M | $4.2M |
| Q4 25 | — | $-1.1M | ||
| Q3 25 | — | $385.0K | ||
| Q2 25 | $-3.4M | $-786.0K | ||
| Q1 25 | $-8.3M | $-4.0M | ||
| Q4 24 | $-36.4M | $3.3M | ||
| Q3 24 | $-7.5M | $-1.8M | ||
| Q2 24 | $-10.0M | $6.7M | ||
| Q1 24 | $-9.8M | $3.9M |
| Q4 25 | — | -6.6% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | -116.5% | -3.9% | ||
| Q1 25 | -1976.7% | -20.9% | ||
| Q4 24 | -2309.3% | 20.8% | ||
| Q3 24 | -225.7% | -11.8% | ||
| Q2 24 | -376.2% | 42.8% | ||
| Q1 24 | -573.0% | 28.4% |
| Q4 25 | 0.0% | 3.6% | ||
| Q3 25 | 0.0% | 5.6% | ||
| Q2 25 | 0.9% | 3.2% | ||
| Q1 25 | 35.6% | 1.7% | ||
| Q4 24 | 4.2% | 3.3% | ||
| Q3 24 | 0.0% | 2.2% | ||
| Q2 24 | 0.4% | 5.3% | ||
| Q1 24 | 3.2% | 2.3% |
| Q4 25 | -0.68× | -0.29× | ||
| Q3 25 | — | 1.83× | ||
| Q2 25 | — | -0.05× | ||
| Q1 25 | — | -0.24× | ||
| Q4 24 | — | 1.44× | ||
| Q3 24 | — | -0.60× | ||
| Q2 24 | — | 2.85× | ||
| Q1 24 | — | 32.36× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CUE
| Immuno Scape Collaboration And License Agreement | $9.5M | 43% |
| BI Collaboration And License Agreement | $8.1M | 37% |
| Other | $4.3M | 20% |
FEIM
| POC Revenue | $14.8M | 86% |
| POT Revenue | $2.3M | 13% |
