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Side-by-side financial comparison of Ensysce Biosciences, Inc. (ENSC) and XCel Brands, Inc. (XELB). Click either name above to swap in a different company.

Ensysce Biosciences, Inc. is the larger business by last-quarter revenue ($1.9M vs $1.2M, roughly 1.6× XCel Brands, Inc.). Ensysce Biosciences, Inc. runs the higher net margin — -147.0% vs -237.8%, a 90.7% gap on every dollar of revenue. On growth, Ensysce Biosciences, Inc. posted the faster year-over-year revenue change (44.4% vs -3.4%). Over the past eight quarters, Ensysce Biosciences, Inc.'s revenue compounded faster (107.9% CAGR vs -26.9%).

Ensysce Biosciences, Inc. is a clinical-stage biotechnology firm specializing in developing innovative prodrug therapies for pain management and oncology indications. Its proprietary platform is designed to reduce opioid abuse risks while enhancing treatment efficacy, targeting global healthcare and pharmaceutical markets with a focus on unmet clinical needs.

XCel Brands, Inc. is a consumer goods and brand management firm that owns, licenses, and markets lifestyle brands spanning apparel, accessories, and home products. It operates mainly in North America, partnering with leading retail chains to distribute products to mass and mid-tier consumer segments.

ENSC vs XELB — Head-to-Head

Bigger by revenue
ENSC
ENSC
1.6× larger
ENSC
$1.9M
$1.2M
XELB
Growing faster (revenue YoY)
ENSC
ENSC
+47.8% gap
ENSC
44.4%
-3.4%
XELB
Higher net margin
ENSC
ENSC
90.7% more per $
ENSC
-147.0%
-237.8%
XELB
Faster 2-yr revenue CAGR
ENSC
ENSC
Annualised
ENSC
107.9%
-26.9%
XELB

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
ENSC
ENSC
XELB
XELB
Revenue
$1.9M
$1.2M
Net Profit
$-2.8M
$-2.8M
Gross Margin
Operating Margin
-147.8%
-166.8%
Net Margin
-147.0%
-237.8%
Revenue YoY
44.4%
-3.4%
Net Profit YoY
22.3%
60.8%
EPS (diluted)
$-0.51
$-0.22

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
ENSC
ENSC
XELB
XELB
Q4 25
$1.9M
$1.2M
Q3 25
$493.1K
$1.1M
Q2 25
$1.4M
$1.3M
Q1 25
$1.3M
$1.3M
Q4 24
$1.3M
$1.2M
Q3 24
$3.4M
$1.9M
Q2 24
$3.0M
Q1 24
$2.2M
Net Profit
ENSC
ENSC
XELB
XELB
Q4 25
$-2.8M
$-2.8M
Q3 25
$-3.7M
$-7.9M
Q2 25
$-1.7M
$-4.0M
Q1 25
$-1.9M
$-2.8M
Q4 24
$-3.6M
$-7.1M
Q3 24
$661.8K
$-9.2M
Q2 24
$195.0K
Q1 24
$-6.3M
Gross Margin
ENSC
ENSC
XELB
XELB
Q4 25
Q3 25
100.0%
Q2 25
100.0%
Q1 25
Q4 24
100.0%
Q3 24
78.7%
Q2 24
98.7%
Q1 24
100.0%
Operating Margin
ENSC
ENSC
XELB
XELB
Q4 25
-147.8%
-166.8%
Q3 25
-758.7%
-665.7%
Q2 25
-127.6%
-125.2%
Q1 25
-149.1%
-164.2%
Q4 24
-274.3%
-532.9%
Q3 24
18.9%
-474.8%
Q2 24
10.4%
Q1 24
-283.7%
Net Margin
ENSC
ENSC
XELB
XELB
Q4 25
-147.0%
-237.8%
Q3 25
-756.3%
-706.5%
Q2 25
-126.4%
-301.9%
Q1 25
-147.4%
-210.0%
Q4 24
-273.4%
-585.9%
Q3 24
19.4%
-481.9%
Q2 24
6.6%
Q1 24
-288.2%
EPS (diluted)
ENSC
ENSC
XELB
XELB
Q4 25
$-0.51
$-0.22
Q3 25
$-1.29
$-2.02
Q2 25
$-0.79
$-1.66
Q1 25
$-1.39
$-1.18
Q4 24
$-0.89
$-2.91
Q3 24
$1.00
$-3.92
Q2 24
$0.08
Q1 24
$-3.09

Balance Sheet & Financial Strength

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

Metric
ENSC
ENSC
XELB
XELB
Cash + ST InvestmentsLiquidity on hand
$4.3M
$1.1M
Total DebtLower is stronger
$12.7M
Stockholders' EquityBook value
$3.2M
$18.0M
Total Assets
$7.5M
$38.9M
Debt / EquityLower = less leverage
0.71×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ENSC
ENSC
XELB
XELB
Q4 25
$4.3M
$1.1M
Q3 25
$1.7M
$1.5M
Q2 25
$2.2M
$970.0K
Q1 25
$3.1M
$298.0K
Q4 24
$3.5M
$1.3M
Q3 24
$4.2M
$242.0K
Q2 24
$924.0K
Q1 24
$1.6M
Total Debt
ENSC
ENSC
XELB
XELB
Q4 25
$12.7M
Q3 25
$12.5M
Q2 25
$12.3M
Q1 25
$8.7M
Q4 24
$6.6M
Q3 24
$4.3M
Q2 24
$4.5M
Q1 24
$4.7M
Stockholders' Equity
ENSC
ENSC
XELB
XELB
Q4 25
$3.2M
$18.0M
Q3 25
$1.2M
$18.7M
Q2 25
$3.4M
$24.5M
Q1 25
$3.0M
$27.7M
Q4 24
$3.7M
$30.4M
Q3 24
$6.9M
$36.9M
Q2 24
$46.0M
Q1 24
$45.8M
Total Assets
ENSC
ENSC
XELB
XELB
Q4 25
$7.5M
$38.9M
Q3 25
$3.2M
$40.5M
Q2 25
$5.6M
$47.2M
Q1 25
$4.6M
$52.5M
Q4 24
$5.6M
$53.8M
Q3 24
$9.4M
$54.0M
Q2 24
$63.2M
Q1 24
$66.8M
Debt / Equity
ENSC
ENSC
XELB
XELB
Q4 25
0.71×
Q3 25
0.67×
Q2 25
0.50×
Q1 25
0.31×
Q4 24
0.22×
Q3 24
0.12×
Q2 24
0.10×
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
ENSC
ENSC
XELB
XELB
Operating Cash FlowLast quarter
$-1.5M
$-7.0M
Free Cash FlowOCF − Capex
$-7.0M
FCF MarginFCF / Revenue
-602.1%
Capex IntensityCapex / Revenue
0.9%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ENSC
ENSC
XELB
XELB
Q4 25
$-1.5M
$-7.0M
Q3 25
$-1.9M
$-1.4M
Q2 25
$-2.7M
$-2.4M
Q1 25
$-1.7M
$-1.4M
Q4 24
$-764.1K
$-4.7M
Q3 24
$-1.0M
$-424.0K
Q2 24
$-274.0K
Q1 24
$-2.6M
Free Cash Flow
ENSC
ENSC
XELB
XELB
Q4 25
$-7.0M
Q3 25
Q2 25
$-2.4M
Q1 25
$-1.4M
Q4 24
$-4.8M
Q3 24
$-432.0K
Q2 24
Q1 24
FCF Margin
ENSC
ENSC
XELB
XELB
Q4 25
-602.1%
Q3 25
Q2 25
-179.3%
Q1 25
-108.7%
Q4 24
-399.3%
Q3 24
-22.6%
Q2 24
Q1 24
Capex Intensity
ENSC
ENSC
XELB
XELB
Q4 25
0.9%
Q3 25
0.0%
Q2 25
0.3%
Q1 25
1.1%
Q4 24
9.3%
Q3 24
0.4%
Q2 24
Q1 24
Cash Conversion
ENSC
ENSC
XELB
XELB
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
-1.54×
Q2 24
-1.41×
Q1 24

Financial Flow Comparison

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

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