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Side-by-side financial comparison of Cue Biopharma, Inc. (CUE) 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 $21.9M, roughly 1.2× Cue Biopharma, Inc.). Cue Biopharma, Inc. runs the higher net margin — 7.2% vs -101.7%, a 109.0% gap on every dollar of revenue. On growth, Cue Biopharma, Inc. posted the faster year-over-year revenue change (1292.3% vs -26.6%). Over the past eight quarters, Cue Biopharma, Inc.'s revenue compounded faster (257.5% CAGR vs -18.8%).
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.
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.
CUE vs KREF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.9M | $25.8M |
| Net Profit | $1.6M | $-26.2M |
| Gross Margin | — | — |
| Operating Margin | 9.0% | -105.1% |
| Net Margin | 7.2% | -101.7% |
| Revenue YoY | 1292.3% | -26.6% |
| Net Profit YoY | 116.7% | -229.6% |
| EPS (diluted) | $0.05 | $-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 | $21.9M | $25.8M | ||
| Q3 25 | $2.1M | $25.3M | ||
| Q2 25 | $3.0M | $30.2M | ||
| Q1 25 | $421.0K | $31.3M | ||
| Q4 24 | $1.6M | $35.1M | ||
| Q3 24 | $3.3M | $37.0M | ||
| Q2 24 | $2.7M | $40.4M | ||
| Q1 24 | $1.7M | $39.1M |
| Q4 25 | $1.6M | $-26.2M | ||
| Q3 25 | $-7.4M | $13.8M | ||
| Q2 25 | $-8.5M | $-29.7M | ||
| Q1 25 | $-12.3M | $-4.9M | ||
| Q4 24 | — | $20.3M | ||
| Q3 24 | $-8.7M | $-7.4M | ||
| Q2 24 | $-10.2M | $25.8M | ||
| Q1 24 | $-12.3M | $-3.1M |
| Q4 25 | 9.0% | -105.1% | ||
| Q3 25 | -353.4% | 50.4% | ||
| Q2 25 | -292.3% | -101.3% | ||
| Q1 25 | -2921.4% | -18.3% | ||
| Q4 24 | — | 55.8% | ||
| Q3 24 | -264.2% | -19.6% | ||
| Q2 24 | -390.6% | 63.3% | ||
| Q1 24 | -737.8% | -8.7% |
| Q4 25 | 7.2% | -101.7% | ||
| Q3 25 | -346.6% | 54.4% | ||
| Q2 25 | -287.1% | -98.5% | ||
| Q1 25 | -2911.4% | -15.5% | ||
| Q4 24 | — | 57.7% | ||
| Q3 24 | -259.6% | -20.0% | ||
| Q2 24 | -382.7% | 63.9% | ||
| Q1 24 | -719.1% | -7.9% |
| Q4 25 | $0.05 | $-0.49 | ||
| Q3 25 | $-0.07 | $0.12 | ||
| Q2 25 | $-0.09 | $-0.53 | ||
| Q1 25 | $-0.17 | $-0.15 | ||
| Q4 24 | — | $0.22 | ||
| Q3 24 | $-0.17 | $-0.19 | ||
| Q2 24 | $-0.20 | $0.29 | ||
| Q1 24 | $-0.25 | $-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 | $27.1M | $84.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $26.4M | $1.2B |
| Total Assets | $42.2M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.1M | $84.6M | ||
| Q3 25 | $11.7M | $204.1M | ||
| Q2 25 | $27.5M | $107.7M | ||
| Q1 25 | $13.1M | $106.4M | ||
| Q4 24 | $22.5M | $104.9M | ||
| Q3 24 | $32.4M | $108.8M | ||
| Q2 24 | $30.0M | $107.2M | ||
| Q1 24 | $41.0M | $106.5M |
| 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 | $1.2B | ||
| Q3 25 | $13.2M | $1.2B | ||
| Q2 25 | $18.2M | $1.2B | ||
| Q1 25 | $6.6M | $1.3B | ||
| Q4 24 | $17.5M | $1.3B | ||
| Q3 24 | $25.4M | $1.4B | ||
| Q2 24 | $21.6M | $1.4B | ||
| Q1 24 | $30.0M | $1.4B |
| Q4 25 | $42.2M | $6.5B | ||
| Q3 25 | $31.6M | $6.5B | ||
| Q2 25 | $40.7M | $6.8B | ||
| Q1 25 | $22.3M | $6.6B | ||
| Q4 24 | $32.2M | $6.4B | ||
| Q3 24 | $44.8M | $6.8B | ||
| Q2 24 | $42.3M | $7.1B | ||
| Q1 24 | $54.0M | $7.3B |
| 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 | $72.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | -0.68× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.1M | $72.3M | ||
| Q3 25 | $-9.0M | $18.5M | ||
| Q2 25 | $-3.4M | $21.1M | ||
| Q1 25 | $-8.2M | $15.9M | ||
| Q4 24 | $-36.3M | $132.6M | ||
| Q3 24 | $-7.5M | $49.1M | ||
| Q2 24 | $-10.0M | $30.6M | ||
| Q1 24 | $-9.8M | $34.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-3.4M | — | ||
| Q1 25 | $-8.3M | — | ||
| Q4 24 | $-36.4M | — | ||
| Q3 24 | $-7.5M | — | ||
| Q2 24 | $-10.0M | — | ||
| Q1 24 | $-9.8M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -116.5% | — | ||
| Q1 25 | -1976.7% | — | ||
| Q4 24 | -2309.3% | — | ||
| Q3 24 | -225.7% | — | ||
| Q2 24 | -376.2% | — | ||
| Q1 24 | -573.0% | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 35.6% | — | ||
| Q4 24 | 4.2% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.4% | — | ||
| Q1 24 | 3.2% | — |
| Q4 25 | -0.68× | — | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | — |
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% |
KREF
Segment breakdown not available.
