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Side-by-side financial comparison of Enovix Corp (ENVX) and Foghorn Therapeutics Inc. (FHTX). Click either name above to swap in a different company.
Enovix Corp is the larger business by last-quarter revenue ($11.3M vs $9.2M, roughly 1.2× Foghorn Therapeutics Inc.). Foghorn Therapeutics Inc. runs the higher net margin — -234.3% vs -310.6%, a 76.3% gap on every dollar of revenue. On growth, Foghorn Therapeutics Inc. posted the faster year-over-year revenue change (223.8% vs 15.9%). Over the past eight quarters, Enovix Corp's revenue compounded faster (46.2% CAGR vs 35.3%).
Enovix Corp is an advanced battery technology company that designs, develops and manufactures high-energy-density 3D silicon anode lithium-ion batteries. Its products serve consumer electronics, wearable devices, electric vehicles, and renewable energy storage segments, with customers and operations across North America, Asia and Europe.
Foghorn Therapeutics Inc. is a clinical-stage biotechnology company dedicated to developing novel therapies targeting the chromatin regulatory system to treat various types of cancer and other severe diseases. It advances a diverse pipeline of targeted drug candidates, conducting internal R&D and strategic partnerships to serve global patient populations.
ENVX vs FHTX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.3M | $9.2M |
| Net Profit | $-35.0M | $-21.7M |
| Gross Margin | 22.2% | — |
| Operating Margin | -390.5% | -258.2% |
| Net Margin | -310.6% | -234.3% |
| Revenue YoY | 15.9% | 223.8% |
| Net Profit YoY | 6.6% | -11.1% |
| EPS (diluted) | $-0.14 | $-0.35 |
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 | $11.3M | $9.2M | ||
| Q3 25 | $8.0M | $8.2M | ||
| Q2 25 | $7.5M | $7.6M | ||
| Q1 25 | $5.1M | $6.0M | ||
| Q4 24 | $9.7M | $2.9M | ||
| Q3 24 | $4.3M | $7.8M | ||
| Q2 24 | $3.8M | $6.9M | ||
| Q1 24 | $5.3M | $5.0M |
| Q4 25 | $-35.0M | $-21.7M | ||
| Q3 25 | $-53.7M | $-15.8M | ||
| Q2 25 | $-44.5M | $-17.9M | ||
| Q1 25 | $-23.5M | $-18.8M | ||
| Q4 24 | $-37.5M | $-19.5M | ||
| Q3 24 | $-22.5M | $-19.1M | ||
| Q2 24 | $-115.9M | $-23.0M | ||
| Q1 24 | $-46.4M | $-25.0M |
| Q4 25 | 22.2% | — | ||
| Q3 25 | 17.5% | — | ||
| Q2 25 | 26.0% | — | ||
| Q1 25 | 5.1% | — | ||
| Q4 24 | 10.8% | — | ||
| Q3 24 | -14.9% | — | ||
| Q2 24 | -17.4% | — | ||
| Q1 24 | -34.1% | — |
| Q4 25 | -390.5% | -258.2% | ||
| Q3 25 | -587.9% | -226.9% | ||
| Q2 25 | -585.6% | -279.2% | ||
| Q1 25 | -834.8% | -385.0% | ||
| Q4 24 | -355.2% | -840.5% | ||
| Q3 24 | -1141.2% | -305.5% | ||
| Q2 24 | -2355.4% | -386.6% | ||
| Q1 24 | -1330.3% | -558.3% |
| Q4 25 | -310.6% | -234.3% | ||
| Q3 25 | -672.3% | -194.4% | ||
| Q2 25 | -596.3% | -237.3% | ||
| Q1 25 | -461.2% | -316.4% | ||
| Q4 24 | -385.6% | -682.9% | ||
| Q3 24 | -522.0% | -244.9% | ||
| Q2 24 | -3075.2% | -333.6% | ||
| Q1 24 | -879.5% | -495.4% |
| Q4 25 | $-0.14 | $-0.35 | ||
| Q3 25 | $-0.27 | $-0.25 | ||
| Q2 25 | $-0.22 | $-0.28 | ||
| Q1 25 | $-0.12 | $-0.30 | ||
| Q4 24 | $0.00 | $-0.23 | ||
| Q3 24 | $-0.28 | $-0.31 | ||
| Q2 24 | $-0.63 | $-0.45 | ||
| Q1 24 | $-0.28 | $-0.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $512.0M | $80.9M |
| Total DebtLower is stronger | $519.5M | — |
| Stockholders' EquityBook value | $271.2M | $-108.5M |
| Total Assets | $879.0M | $198.1M |
| Debt / EquityLower = less leverage | 1.92× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $512.0M | $80.9M | ||
| Q3 25 | $558.8M | $89.3M | ||
| Q2 25 | $203.4M | $72.6M | ||
| Q1 25 | $248.2M | $61.0M | ||
| Q4 24 | $272.9M | $55.5M | ||
| Q3 24 | $200.9M | $57.7M | ||
| Q2 24 | $249.9M | $138.9M | ||
| Q1 24 | $262.4M | $79.3M |
| Q4 25 | $519.5M | — | ||
| Q3 25 | $518.6M | — | ||
| Q2 25 | $169.7M | — | ||
| Q1 25 | $169.4M | — | ||
| Q4 24 | $170.0M | — | ||
| Q3 24 | $168.9M | — | ||
| Q2 24 | $170.1M | — | ||
| Q1 24 | $169.8M | — |
| Q4 25 | $271.2M | $-108.5M | ||
| Q3 25 | $294.3M | $-89.7M | ||
| Q2 25 | $203.7M | $-76.7M | ||
| Q1 25 | $235.1M | $-61.7M | ||
| Q4 24 | $246.7M | $-45.5M | ||
| Q3 24 | $167.6M | $-28.3M | ||
| Q2 24 | $170.3M | $-14.3M | ||
| Q1 24 | $229.3M | $-97.5M |
| Q4 25 | $879.0M | $198.1M | ||
| Q3 25 | $913.7M | $205.0M | ||
| Q2 25 | $469.1M | $226.2M | ||
| Q1 25 | $499.0M | $258.7M | ||
| Q4 24 | $527.2M | $284.0M | ||
| Q3 24 | $448.0M | $308.4M | ||
| Q2 24 | $489.0M | $328.6M | ||
| Q1 24 | $508.9M | $255.0M |
| Q4 25 | 1.92× | — | ||
| Q3 25 | 1.76× | — | ||
| Q2 25 | 0.83× | — | ||
| Q1 25 | 0.72× | — | ||
| Q4 24 | 0.69× | — | ||
| Q3 24 | 1.01× | — | ||
| Q2 24 | 1.00× | — | ||
| Q1 24 | 0.74× | — |
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 | $-27.0M | $-22.3M |
| Free Cash FlowOCF − Capex | $-28.0M | — |
| FCF MarginFCF / Revenue | -248.6% | — |
| Capex IntensityCapex / Revenue | 8.9% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-113.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-27.0M | $-22.3M | ||
| Q3 25 | $-25.5M | $-18.9M | ||
| Q2 25 | $-25.9M | $-21.0M | ||
| Q1 25 | $-16.9M | $-24.0M | ||
| Q4 24 | $-16.0M | $-24.5M | ||
| Q3 24 | $-30.7M | $-21.0M | ||
| Q2 24 | $-26.9M | $-25.5M | ||
| Q1 24 | $-35.0M | $-29.3M |
| Q4 25 | $-28.0M | — | ||
| Q3 25 | $-28.5M | — | ||
| Q2 25 | $-33.8M | $-21.0M | ||
| Q1 25 | $-23.2M | $-24.0M | ||
| Q4 24 | $-32.3M | $-25.0M | ||
| Q3 24 | $-50.2M | $-21.3M | ||
| Q2 24 | $-52.2M | $-25.6M | ||
| Q1 24 | $-50.1M | $-29.4M |
| Q4 25 | -248.6% | — | ||
| Q3 25 | -356.7% | — | ||
| Q2 25 | -453.0% | -278.2% | ||
| Q1 25 | -454.7% | -403.2% | ||
| Q4 24 | -332.6% | -875.3% | ||
| Q3 24 | -1163.2% | -273.0% | ||
| Q2 24 | -1384.2% | -371.0% | ||
| Q1 24 | -950.9% | -583.1% |
| Q4 25 | 8.9% | 0.0% | ||
| Q3 25 | 37.2% | 0.0% | ||
| Q2 25 | 106.7% | 0.3% | ||
| Q1 25 | 123.0% | 0.5% | ||
| Q4 24 | 168.3% | 16.8% | ||
| Q3 24 | 452.5% | 4.0% | ||
| Q2 24 | 669.0% | 0.2% | ||
| Q1 24 | 286.2% | 2.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
