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Side-by-side financial comparison of DYNAVAX TECHNOLOGIES CORP (DVAX) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $94.9M, roughly 1.1× DYNAVAX TECHNOLOGIES CORP). DYNAVAX TECHNOLOGIES CORP runs the higher net margin — 28.4% vs -7.0%, a 35.4% gap on every dollar of revenue. On growth, DYNAVAX TECHNOLOGIES CORP posted the faster year-over-year revenue change (17.7% vs 14.5%). DYNAVAX TECHNOLOGIES CORP produced more free cash flow last quarter ($32.6M vs $14.1M). Over the past eight quarters, DYNAVAX TECHNOLOGIES CORP's revenue compounded faster (30.6% CAGR vs -4.9%).
Dynavax Technologies Corp is a commercial-stage biopharmaceutical company specializing in the research, development, and production of innovative vaccines and immunotherapies for infectious diseases. Its lead approved product is Heplisav-B, an adult hepatitis B vaccine, with core markets in North America and Europe, alongside a pipeline of candidates addressing unmet public health needs.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
DVAX vs SWIM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $94.9M | $100.0M |
| Net Profit | $26.9M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | 22.4% | -10.7% |
| Net Margin | 28.4% | -7.0% |
| Revenue YoY | 17.7% | 14.5% |
| Net Profit YoY | 53.0% | 76.0% |
| EPS (diluted) | $0.21 | $-0.06 |
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 | — | $100.0M | ||
| Q3 25 | $94.9M | $161.9M | ||
| Q2 25 | $95.4M | $172.6M | ||
| Q1 25 | $68.2M | $111.4M | ||
| Q4 24 | $72.0M | $87.3M | ||
| Q3 24 | $80.6M | $150.5M | ||
| Q2 24 | $73.8M | $160.1M | ||
| Q1 24 | $50.8M | $110.6M |
| Q4 25 | — | $-7.0M | ||
| Q3 25 | $26.9M | $8.1M | ||
| Q2 25 | $18.7M | $16.0M | ||
| Q1 25 | $-96.1M | $-6.0M | ||
| Q4 24 | $7.0M | $-29.2M | ||
| Q3 24 | $17.6M | $5.9M | ||
| Q2 24 | $11.4M | $13.3M | ||
| Q1 24 | $-8.7M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | — | -10.7% | ||
| Q3 25 | 22.4% | 13.3% | ||
| Q2 25 | 15.1% | 14.3% | ||
| Q1 25 | -34.7% | -4.4% | ||
| Q4 24 | -2.3% | -14.9% | ||
| Q3 24 | 12.5% | 8.9% | ||
| Q2 24 | 7.0% | 12.5% | ||
| Q1 24 | -35.0% | -1.9% |
| Q4 25 | — | -7.0% | ||
| Q3 25 | 28.4% | 5.0% | ||
| Q2 25 | 19.6% | 9.3% | ||
| Q1 25 | -141.0% | -5.4% | ||
| Q4 24 | 9.8% | -33.4% | ||
| Q3 24 | 21.8% | 3.9% | ||
| Q2 24 | 15.4% | 8.3% | ||
| Q1 24 | -17.2% | -7.1% |
| Q4 25 | — | $-0.06 | ||
| Q3 25 | $0.21 | $0.07 | ||
| Q2 25 | $0.14 | $0.13 | ||
| Q1 25 | $-0.77 | $-0.05 | ||
| Q4 24 | $0.07 | $-0.24 | ||
| Q3 24 | $0.12 | $0.05 | ||
| Q2 24 | $0.08 | $0.11 | ||
| Q1 24 | $-0.07 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $160.2M | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $534.1M | $405.9M |
| Total Assets | $946.5M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | — | ||
| Q3 25 | $160.2M | — | ||
| Q2 25 | $99.1M | — | ||
| Q1 25 | $51.7M | — | ||
| Q4 24 | $95.9M | — | ||
| Q3 24 | $119.3M | — | ||
| Q2 24 | $112.5M | — | ||
| Q1 24 | $132.0M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | — | $405.9M | ||
| Q3 25 | $534.1M | $408.4M | ||
| Q2 25 | $494.2M | $398.4M | ||
| Q1 25 | $530.9M | $381.1M | ||
| Q4 24 | $596.8M | $387.2M | ||
| Q3 24 | $681.4M | $416.6M | ||
| Q2 24 | $642.8M | $408.1M | ||
| Q1 24 | $618.5M | $391.8M |
| Q4 25 | — | $823.2M | ||
| Q3 25 | $946.5M | $844.4M | ||
| Q2 25 | $918.4M | $822.1M | ||
| Q1 25 | $945.9M | $824.6M | ||
| Q4 24 | $986.3M | $794.2M | ||
| Q3 24 | $1.1B | $853.4M | ||
| Q2 24 | $1.0B | $830.0M | ||
| Q1 24 | $986.6M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $33.8M | $23.3M |
| Free Cash FlowOCF − Capex | $32.6M | $14.1M |
| FCF MarginFCF / Revenue | 34.4% | 14.1% |
| Capex IntensityCapex / Revenue | 1.3% | 9.2% |
| Cash ConversionOCF / Net Profit | 1.26× | — |
| TTM Free Cash FlowTrailing 4 quarters | $80.5M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $23.3M | ||
| Q3 25 | $33.8M | $51.0M | ||
| Q2 25 | $23.4M | $36.0M | ||
| Q1 25 | $-19.6M | $-46.9M | ||
| Q4 24 | $53.0M | $6.2M | ||
| Q3 24 | $19.5M | $37.2M | ||
| Q2 24 | $10.7M | $52.4M | ||
| Q1 24 | $-16.7M | $-34.5M |
| Q4 25 | — | $14.1M | ||
| Q3 25 | $32.6M | $45.2M | ||
| Q2 25 | $22.0M | $29.1M | ||
| Q1 25 | $-23.6M | $-50.3M | ||
| Q4 24 | $49.5M | $-98.0K | ||
| Q3 24 | $18.1M | $33.2M | ||
| Q2 24 | $9.9M | $47.9M | ||
| Q1 24 | $-17.4M | $-39.9M |
| Q4 25 | — | 14.1% | ||
| Q3 25 | 34.4% | 27.9% | ||
| Q2 25 | 23.0% | 16.8% | ||
| Q1 25 | -34.6% | -45.2% | ||
| Q4 24 | 68.8% | -0.1% | ||
| Q3 24 | 22.5% | 22.1% | ||
| Q2 24 | 13.5% | 29.9% | ||
| Q1 24 | -34.3% | -36.0% |
| Q4 25 | — | 9.2% | ||
| Q3 25 | 1.3% | 3.6% | ||
| Q2 25 | 1.5% | 4.0% | ||
| Q1 25 | 5.8% | 3.1% | ||
| Q4 24 | 4.8% | 7.2% | ||
| Q3 24 | 1.7% | 2.7% | ||
| Q2 24 | 1.1% | 2.8% | ||
| Q1 24 | 1.5% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | 1.26× | 6.29× | ||
| Q2 25 | 1.25× | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | 7.52× | — | ||
| Q3 24 | 1.11× | 6.32× | ||
| Q2 24 | 0.94× | 3.95× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DVAX
| HEPLISAVB | $90.0M | 95% |
| US Department Of Defense | $4.7M | 5% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
