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Side-by-side financial comparison of DBV Technologies S.A. (DBVT) and Pony AI Inc. (PONY). Click either name above to swap in a different company.

DBV Technologies S.A. is the larger business by last-quarter revenue ($2.8M vs $2.1M, roughly 1.3× Pony AI Inc.). Pony AI Inc. runs the higher net margin — -284.8% vs -1195.5%, a 910.8% gap on every dollar of revenue.

DBV Technologies SA is a publicly owned French biopharmaceutical firm headquartered in Bagneux, France. DBV Technologies is known for developing "Viaskin" technology for administering allergens or antigens to intact skin while avoiding any transfer to the blood. Viaskin Peanut clinical development has received Fast Track designation from the US Food and Drug Administration.

Pony Canyon Inc. , also known by the shorthand form Ponican , is a Japanese company, established on October 1, 1966, which distributes music, films, home video, and video games. It is affiliated with the Japanese media group Fujisankei Communications Group. Pony Canyon is a major leader in the music industry in Japan, with its artists regularly at the top of the Japanese charts. Pony Canyon is also responsible for releasing taped concerts from its artists as well as many anime productions and...

DBVT vs PONY — Head-to-Head

Bigger by revenue
DBVT
DBVT
1.3× larger
DBVT
$2.8M
$2.1M
PONY
Higher net margin
PONY
PONY
910.8% more per $
PONY
-284.8%
-1195.5%
DBVT

Income Statement — Q3 FY2025 vs Q3 FY2025

Metric
DBVT
DBVT
PONY
PONY
Revenue
$2.8M
$2.1M
Net Profit
$-33.2M
$-5.9M
Gross Margin
9.2%
Operating Margin
-1235.7%
-275.3%
Net Margin
-1195.5%
-284.8%
Revenue YoY
158.8%
Net Profit YoY
-8.9%
EPS (diluted)
$-0.24
$-3.51

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.

Revenue
DBVT
DBVT
PONY
PONY
Q3 25
$2.8M
$2.1M
Q2 25
$1.5M
$1.7M
Q1 25
$1.9M
Q2 24
$1.2M
Q1 24
$1.4M
Q4 23
$8.9M
Q3 23
$2.4M
Q2 23
$2.3M
Net Profit
DBVT
DBVT
PONY
PONY
Q3 25
$-33.2M
$-5.9M
Q2 25
$-41.9M
$-4.3M
Q1 25
$-5.2M
Q2 24
$-33.1M
Q1 24
$-27.3M
Q4 23
$134.3M
Q3 23
$-16.7M
Q2 23
$-24.2M
Gross Margin
DBVT
DBVT
PONY
PONY
Q3 25
9.2%
Q2 25
Q1 25
16.6%
Q2 24
Q1 24
Q4 23
Q3 23
Q2 23
Operating Margin
DBVT
DBVT
PONY
PONY
Q3 25
-1235.7%
-275.3%
Q2 25
-2806.2%
-303.4%
Q1 25
-400.9%
Q2 24
-2914.9%
Q1 24
-2029.7%
Q4 23
-134.3%
Q3 23
-770.2%
Q2 23
-1096.0%
Net Margin
DBVT
DBVT
PONY
PONY
Q3 25
-1195.5%
-284.8%
Q2 25
-2858.4%
-253.7%
Q1 25
-267.4%
Q2 24
-2852.4%
Q1 24
-1943.5%
Q4 23
1512.8%
Q3 23
-705.6%
Q2 23
-1059.6%
EPS (diluted)
DBVT
DBVT
PONY
PONY
Q3 25
$-0.24
$-3.51
Q2 25
$-0.31
$-0.92
Q1 25
$-0.12
Q2 24
$-0.34
Q1 24
$-0.28
Q4 23
$-0.11
Q3 23
$-0.17
Q2 23
$-0.26

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
DBVT
DBVT
PONY
PONY
Cash + ST InvestmentsLiquidity on hand
$69.8M
$62.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$52.9M
$114.1M
Total Assets
$110.5M
$126.5M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DBVT
DBVT
PONY
PONY
Q3 25
$69.8M
$62.5M
Q2 25
$103.2M
$84.9M
Q1 25
$86.8M
Q2 24
$66.2M
Q1 24
$101.5M
Q4 23
$141.4M
Q3 23
$149.1M
Q2 23
$174.0M
Stockholders' Equity
DBVT
DBVT
PONY
PONY
Q3 25
$52.9M
$114.1M
Q2 25
$86.2M
$120.6M
Q1 25
$126.4M
Q2 24
$79.1M
Q1 24
$111.7M
Q4 23
$140.2M
Q3 23
$144.0M
Q2 23
$164.2M
Total Assets
DBVT
DBVT
PONY
PONY
Q3 25
$110.5M
$126.5M
Q2 25
$143.4M
$138.3M
Q1 25
$134.0M
Q2 24
$114.2M
Q1 24
$145.9M
Q4 23
$183.0M
Q3 23
$189.8M
Q2 23
$217.5M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
DBVT
DBVT
PONY
PONY
Operating Cash FlowLast quarter
$-32.4M
$-2.9M
Free Cash FlowOCF − Capex
$-32.6M
FCF MarginFCF / Revenue
-1173.5%
Capex IntensityCapex / Revenue
4.2%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-138.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DBVT
DBVT
PONY
PONY
Q3 25
$-32.4M
$-2.9M
Q2 25
$-33.9M
$-2.5M
Q1 25
$-7.5M
Q2 24
$-35.1M
Q1 24
$-34.7M
Q4 23
$-13.7M
Q3 23
$-19.6M
Q2 23
$-25.6M
Free Cash Flow
DBVT
DBVT
PONY
PONY
Q3 25
$-32.6M
Q2 25
$-33.9M
Q1 25
Q2 24
$-35.8M
Q1 24
$-36.0M
Q4 23
$-14.0M
Q3 23
$-19.6M
Q2 23
$-25.7M
FCF Margin
DBVT
DBVT
PONY
PONY
Q3 25
-1173.5%
Q2 25
-2316.5%
Q1 25
Q2 24
-3084.0%
Q1 24
-2560.6%
Q4 23
-158.2%
Q3 23
-827.3%
Q2 23
-1124.0%
Capex Intensity
DBVT
DBVT
PONY
PONY
Q3 25
4.2%
Q2 25
2.2%
Q1 25
Q2 24
63.0%
Q1 24
94.9%
Q4 23
4.0%
Q3 23
2.1%
Q2 23
7.2%
Cash Conversion
DBVT
DBVT
PONY
PONY
Q3 25
Q2 25
Q1 25
Q2 24
Q1 24
Q4 23
-0.10×
Q3 23
Q2 23

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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