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Side-by-side financial comparison of Cue Biopharma, Inc. (CUE) and Spire Global, Inc. (SPIR). Click either name above to swap in a different company.
Cue Biopharma, Inc. is the larger business by last-quarter revenue ($21.9M vs $15.8M, roughly 1.4× Spire Global, Inc.). Cue Biopharma, Inc. runs the higher net margin — 7.2% vs -176.6%, a 183.9% gap on every dollar of revenue. On growth, Cue Biopharma, Inc. posted the faster year-over-year revenue change (1292.3% vs -26.9%). Over the past eight quarters, Cue Biopharma, Inc.'s revenue compounded faster (257.5% CAGR vs -32.6%).
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.
Spire Global, Inc. is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites, such as the tracking of maritime, aviation and weather patterns.
CUE vs SPIR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.9M | $15.8M |
| Net Profit | $1.6M | $-28.0M |
| Gross Margin | — | 40.2% |
| Operating Margin | 9.0% | -164.1% |
| Net Margin | 7.2% | -176.6% |
| Revenue YoY | 1292.3% | -26.9% |
| Net Profit YoY | 116.7% | 42.7% |
| EPS (diluted) | $0.05 | $-0.85 |
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 | $15.8M | ||
| Q3 25 | $2.1M | $12.7M | ||
| Q2 25 | $3.0M | $19.2M | ||
| Q1 25 | $421.0K | $23.9M | ||
| Q4 24 | $1.6M | $21.7M | ||
| Q3 24 | $3.3M | $28.6M | ||
| Q2 24 | $2.7M | $25.4M | ||
| Q1 24 | $1.7M | $34.8M |
| Q4 25 | $1.6M | $-28.0M | ||
| Q3 25 | $-7.4M | $-19.7M | ||
| Q2 25 | $-8.5M | $119.6M | ||
| Q1 25 | $-12.3M | $-20.7M | ||
| Q4 24 | — | $-48.8M | ||
| Q3 24 | $-8.7M | $-12.5M | ||
| Q2 24 | $-10.2M | $-16.6M | ||
| Q1 24 | $-12.3M | $-25.5M |
| Q4 25 | — | 40.2% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | — | 48.9% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | — | 44.5% | ||
| Q2 24 | — | 43.0% | ||
| Q1 24 | — | 26.5% |
| Q4 25 | 9.0% | -164.1% | ||
| Q3 25 | -353.4% | -166.1% | ||
| Q2 25 | -292.3% | -122.7% | ||
| Q1 25 | -2921.4% | -106.5% | ||
| Q4 24 | — | -144.1% | ||
| Q3 24 | -264.2% | -48.0% | ||
| Q2 24 | -390.6% | -48.6% | ||
| Q1 24 | -737.8% | -34.4% |
| Q4 25 | 7.2% | -176.6% | ||
| Q3 25 | -346.6% | -155.3% | ||
| Q2 25 | -287.1% | 623.4% | ||
| Q1 25 | -2911.4% | -86.5% | ||
| Q4 24 | — | -225.2% | ||
| Q3 24 | -259.6% | -43.7% | ||
| Q2 24 | -382.7% | -65.2% | ||
| Q1 24 | -719.1% | -73.3% |
| Q4 25 | $0.05 | $-0.85 | ||
| Q3 25 | $-0.07 | $-0.61 | ||
| Q2 25 | $-0.09 | $3.72 | ||
| Q1 25 | $-0.17 | $-0.77 | ||
| Q4 24 | — | $-1.93 | ||
| Q3 24 | $-0.17 | $-0.50 | ||
| Q2 24 | $-0.20 | $-0.68 | ||
| Q1 24 | $-0.25 | $-1.17 |
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 | $81.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $26.4M | $112.9M |
| Total Assets | $42.2M | $211.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.1M | $81.8M | ||
| Q3 25 | $11.7M | $96.8M | ||
| Q2 25 | $27.5M | $117.6M | ||
| Q1 25 | $13.1M | $35.9M | ||
| Q4 24 | $22.5M | $19.2M | ||
| Q3 24 | $32.4M | $36.6M | ||
| Q2 24 | $30.0M | $45.8M | ||
| Q1 24 | $41.0M | $63.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | — | $103.1M | ||
| Q3 24 | $1.0M | $4.9M | ||
| Q2 24 | $2.0M | $4.9M | ||
| Q1 24 | $3.0M | $123.1M |
| Q4 25 | $26.4M | $112.9M | ||
| Q3 25 | $13.2M | $133.1M | ||
| Q2 25 | $18.2M | $149.2M | ||
| Q1 25 | $6.6M | $3.7M | ||
| Q4 24 | $17.5M | $-11.7M | ||
| Q3 24 | $25.4M | $30.8M | ||
| Q2 24 | $21.6M | $40.3M | ||
| Q1 24 | $30.0M | $52.5M |
| Q4 25 | $42.2M | $211.0M | ||
| Q3 25 | $31.6M | $224.3M | ||
| Q2 25 | $40.7M | $239.5M | ||
| Q1 25 | $22.3M | $208.8M | ||
| Q4 24 | $32.2M | $193.6M | ||
| Q3 24 | $44.8M | $224.2M | ||
| Q2 24 | $42.3M | $230.8M | ||
| Q1 24 | $54.0M | $252.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 27.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.04× | 0.16× | ||
| Q2 24 | 0.09× | 0.12× | ||
| Q1 24 | 0.10× | 2.35× |
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 | $-4.3M |
| Free Cash FlowOCF − Capex | — | $-16.2M |
| FCF MarginFCF / Revenue | — | -102.1% |
| Capex IntensityCapex / Revenue | 0.0% | 75.1% |
| Cash ConversionOCF / Net Profit | -0.68× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-92.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.1M | $-4.3M | ||
| Q3 25 | $-9.0M | $-12.0M | ||
| Q2 25 | $-3.4M | $-35.1M | ||
| Q1 25 | $-8.2M | $-8.4M | ||
| Q4 24 | $-36.3M | $-19.2M | ||
| Q3 24 | $-7.5M | $14.0M | ||
| Q2 24 | $-10.0M | $-4.4M | ||
| Q1 24 | $-9.8M | $-8.8M |
| Q4 25 | — | $-16.2M | ||
| Q3 25 | — | $-20.4M | ||
| Q2 25 | $-3.4M | $-38.7M | ||
| Q1 25 | $-8.3M | $-17.3M | ||
| Q4 24 | $-36.4M | $-24.3M | ||
| Q3 24 | $-7.5M | $5.1M | ||
| Q2 24 | $-10.0M | $-9.9M | ||
| Q1 24 | $-9.8M | $-15.9M |
| Q4 25 | — | -102.1% | ||
| Q3 25 | — | -161.3% | ||
| Q2 25 | -116.5% | -201.7% | ||
| Q1 25 | -1976.7% | -72.6% | ||
| Q4 24 | -2309.3% | -112.2% | ||
| Q3 24 | -225.7% | 17.8% | ||
| Q2 24 | -376.2% | -39.0% | ||
| Q1 24 | -573.0% | -45.7% |
| Q4 25 | 0.0% | 75.1% | ||
| Q3 25 | 0.0% | 66.2% | ||
| Q2 25 | 0.9% | 18.8% | ||
| Q1 25 | 35.6% | 37.3% | ||
| Q4 24 | 4.2% | 23.5% | ||
| Q3 24 | 0.0% | 31.2% | ||
| Q2 24 | 0.4% | 21.8% | ||
| Q1 24 | 3.2% | 20.3% |
| Q4 25 | -0.68× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.29× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
SPIR
Segment breakdown not available.
