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Side-by-side financial comparison of Cue Biopharma, Inc. (CUE) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
Cue Biopharma, Inc. is the larger business by last-quarter revenue ($21.9M vs $14.9M, roughly 1.5× EVERSPIN TECHNOLOGIES INC.). Cue Biopharma, Inc. runs the higher net margin — 7.2% vs -2.0%, a 9.2% gap on every dollar of revenue. On growth, Cue Biopharma, Inc. posted the faster year-over-year revenue change (1292.3% vs 13.2%). Over the past eight quarters, Cue Biopharma, Inc.'s revenue compounded faster (257.5% CAGR vs 18.2%).
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.
Everspin Technologies, Inc. is a publicly traded semiconductor company headquartered in Chandler, Arizona, United States. It develops and manufactures discrete magnetoresistive RAM or magnetoresistive random-access memory (MRAM) products, including Toggle MRAM and Spin-Transfer Torque MRAM (STT-MRAM) product families. It also licenses its technology for use in embedded MRAM (eMRAM) applications, magnetic sensor applications as well as performs backend foundry services for eMRAM.
CUE vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $21.9M | $14.9M |
| Net Profit | $1.6M | $-296.0K |
| Gross Margin | — | 52.7% |
| Operating Margin | 9.0% | 29.0% |
| Net Margin | 7.2% | -2.0% |
| Revenue YoY | 1292.3% | 13.2% |
| Net Profit YoY | 116.7% | — |
| EPS (diluted) | $0.05 | $-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.
| Q1 26 | — | $14.9M | ||
| Q4 25 | $21.9M | $14.8M | ||
| Q3 25 | $2.1M | $14.1M | ||
| Q2 25 | $3.0M | $13.2M | ||
| Q1 25 | $421.0K | $13.1M | ||
| Q4 24 | $1.6M | $13.2M | ||
| Q3 24 | $3.3M | $12.1M | ||
| Q2 24 | $2.7M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $1.6M | $1.2M | ||
| Q3 25 | $-7.4M | $54.0K | ||
| Q2 25 | $-8.5M | $-670.0K | ||
| Q1 25 | $-12.3M | $-1.2M | ||
| Q4 24 | — | $1.2M | ||
| Q3 24 | $-8.7M | $2.3M | ||
| Q2 24 | $-10.2M | $-2.5M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | — | 50.8% | ||
| Q3 25 | — | 51.3% | ||
| Q2 25 | — | 51.3% | ||
| Q1 25 | — | 51.4% | ||
| Q4 24 | — | 51.3% | ||
| Q3 24 | — | 49.2% | ||
| Q2 24 | — | 49.0% |
| Q1 26 | — | 29.0% | ||
| Q4 25 | 9.0% | -7.2% | ||
| Q3 25 | -353.4% | -11.0% | ||
| Q2 25 | -292.3% | -14.9% | ||
| Q1 25 | -2921.4% | -14.7% | ||
| Q4 24 | — | -11.8% | ||
| Q3 24 | -264.2% | -17.5% | ||
| Q2 24 | -390.6% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | 7.2% | 8.1% | ||
| Q3 25 | -346.6% | 0.4% | ||
| Q2 25 | -287.1% | -5.1% | ||
| Q1 25 | -2911.4% | -8.9% | ||
| Q4 24 | — | 9.2% | ||
| Q3 24 | -259.6% | 18.8% | ||
| Q2 24 | -382.7% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $0.05 | $0.05 | ||
| Q3 25 | $-0.07 | $0.00 | ||
| Q2 25 | $-0.09 | $-0.03 | ||
| Q1 25 | $-0.17 | $-0.05 | ||
| Q4 24 | — | $0.07 | ||
| Q3 24 | $-0.17 | $0.10 | ||
| Q2 24 | $-0.20 | $-0.12 |
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 | $40.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $26.4M | $70.2M |
| Total Assets | $42.2M | $83.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $27.1M | $44.5M | ||
| Q3 25 | $11.7M | $45.3M | ||
| Q2 25 | $27.5M | $45.0M | ||
| Q1 25 | $13.1M | $42.2M | ||
| Q4 24 | $22.5M | $42.1M | ||
| Q3 24 | $32.4M | $39.6M | ||
| Q2 24 | $30.0M | $36.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $1.0M | — | ||
| Q2 24 | $2.0M | — |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $26.4M | $68.9M | ||
| Q3 25 | $13.2M | $65.8M | ||
| Q2 25 | $18.2M | $64.1M | ||
| Q1 25 | $6.6M | $63.0M | ||
| Q4 24 | $17.5M | $62.6M | ||
| Q3 24 | $25.4M | $59.3M | ||
| Q2 24 | $21.6M | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $42.2M | $84.6M | ||
| Q3 25 | $31.6M | $80.3M | ||
| Q2 25 | $40.7M | $78.9M | ||
| Q1 25 | $22.3M | $80.2M | ||
| Q4 24 | $32.2M | $77.8M | ||
| Q3 24 | $44.8M | $72.6M | ||
| Q2 24 | $42.3M | $64.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.04× | — | ||
| Q2 24 | 0.09× | — |
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 | $570.0K |
| 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.
| Q1 26 | — | $570.0K | ||
| Q4 25 | $-1.1M | $2.6M | ||
| Q3 25 | $-9.0M | $881.0K | ||
| Q2 25 | $-3.4M | $5.0M | ||
| Q1 25 | $-8.2M | $1.4M | ||
| Q4 24 | $-36.3M | $3.8M | ||
| Q3 24 | $-7.5M | $2.8M | ||
| Q2 24 | $-10.0M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-975.0K | ||
| Q3 25 | — | $543.0K | ||
| Q2 25 | $-3.4M | $3.0M | ||
| Q1 25 | $-8.3M | $527.0K | ||
| Q4 24 | $-36.4M | $2.1M | ||
| Q3 24 | $-7.5M | $2.8M | ||
| Q2 24 | $-10.0M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | -6.6% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | -116.5% | 22.9% | ||
| Q1 25 | -1976.7% | 4.0% | ||
| Q4 24 | -2309.3% | 15.8% | ||
| Q3 24 | -225.7% | 22.9% | ||
| Q2 24 | -376.2% | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 24.3% | ||
| Q3 25 | 0.0% | 2.4% | ||
| Q2 25 | 0.9% | 15.1% | ||
| Q1 25 | 35.6% | 6.9% | ||
| Q4 24 | 4.2% | 13.2% | ||
| Q3 24 | 0.0% | 0.5% | ||
| Q2 24 | 0.4% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | -0.68× | 2.19× | ||
| Q3 25 | — | 16.31× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.16× | ||
| Q3 24 | — | 1.25× | ||
| Q2 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% |
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
