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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) and Lifeway Foods, Inc. (LWAY). Click either name above to swap in a different company.
4D Molecular Therapeutics, Inc. is the larger business by last-quarter revenue ($85.1M vs $55.4M, roughly 1.5× Lifeway Foods, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs 4.6%, a 18.2% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 18.0%). 4D Molecular Therapeutics, Inc. produced more free cash flow last quarter ($28.5M vs $-17.4M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 11.4%).
4D Molecular Therapeutics is a clinical-stage biotechnology company specializing in the research and development of targeted adeno-associated virus (AAV) gene therapies. Its core product candidates address unmet medical needs in ophthalmology, cardiology, and pulmonary disease segments, serving global patient populations with rare and common hard-to-treat conditions.
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
FDMT vs LWAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $55.4M |
| Net Profit | $19.4M | $2.5M |
| Gross Margin | — | 27.8% |
| Operating Margin | 17.3% | 6.8% |
| Net Margin | 22.8% | 4.6% |
| Revenue YoY | 8508900.0% | 18.0% |
| Net Profit YoY | 139.1% | 1688.1% |
| EPS (diluted) | $0.43 | $0.15 |
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 | $85.1M | $55.4M | ||
| Q3 25 | $90.0K | $57.1M | ||
| Q2 25 | $15.0K | $53.9M | ||
| Q1 25 | $14.0K | $46.1M | ||
| Q4 24 | $1.0K | $46.9M | ||
| Q3 24 | $3.0K | $46.1M | ||
| Q2 24 | $5.0K | $49.2M | ||
| Q1 24 | $28.0K | $44.6M |
| Q4 25 | $19.4M | $2.5M | ||
| Q3 25 | $-56.9M | $3.5M | ||
| Q2 25 | $-54.7M | $4.2M | ||
| Q1 25 | $-48.0M | $3.5M | ||
| Q4 24 | — | $-160.0K | ||
| Q3 24 | $-43.8M | $3.0M | ||
| Q2 24 | $-35.0M | $3.8M | ||
| Q1 24 | $-32.4M | $2.4M |
| Q4 25 | — | 27.8% | ||
| Q3 25 | — | 28.7% | ||
| Q2 25 | — | 28.6% | ||
| Q1 25 | — | 23.9% | ||
| Q4 24 | — | 25.3% | ||
| Q3 24 | — | 25.7% | ||
| Q2 24 | — | 27.0% | ||
| Q1 24 | — | 25.8% |
| Q4 25 | 17.3% | 6.8% | ||
| Q3 25 | -67983.3% | 8.8% | ||
| Q2 25 | -396373.3% | 10.8% | ||
| Q1 25 | -383007.1% | 3.4% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | -1704400.0% | 9.1% | ||
| Q2 24 | -849120.0% | 11.0% | ||
| Q1 24 | -136200.0% | 8.0% |
| Q4 25 | 22.8% | 4.6% | ||
| Q3 25 | -63195.6% | 6.2% | ||
| Q2 25 | -364386.7% | 7.9% | ||
| Q1 25 | -342657.1% | 7.7% | ||
| Q4 24 | — | -0.3% | ||
| Q3 24 | -1461433.3% | 6.5% | ||
| Q2 24 | -699060.0% | 7.7% | ||
| Q1 24 | -115717.9% | 5.4% |
| Q4 25 | $0.43 | $0.15 | ||
| Q3 25 | $-1.01 | $0.23 | ||
| Q2 25 | $-0.98 | $0.28 | ||
| Q1 25 | $-0.86 | $0.23 | ||
| Q4 24 | — | $0.00 | ||
| Q3 24 | $-0.79 | $0.19 | ||
| Q2 24 | $-0.63 | $0.25 | ||
| Q1 24 | $-0.66 | $0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $402.7M | $5.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $505.7M | $85.8M |
| Total Assets | $566.7M | $105.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $402.7M | $5.6M | ||
| Q3 25 | $305.1M | $23.0M | ||
| Q2 25 | $293.2M | $21.2M | ||
| Q1 25 | $321.4M | $19.4M | ||
| Q4 24 | $424.9M | $16.7M | ||
| Q3 24 | $501.9M | $20.6M | ||
| Q2 24 | $541.9M | $14.6M | ||
| Q1 24 | $525.9M | $12.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $2.5M |
| Q4 25 | $505.7M | $85.8M | ||
| Q3 25 | $369.0M | $82.8M | ||
| Q2 25 | $420.9M | $78.7M | ||
| Q1 25 | $469.7M | $74.2M | ||
| Q4 24 | $510.6M | $71.9M | ||
| Q3 24 | $552.9M | $71.5M | ||
| Q2 24 | $588.3M | $68.0M | ||
| Q1 24 | $600.6M | $63.5M |
| Q4 25 | $566.7M | $105.6M | ||
| Q3 25 | $424.0M | $109.5M | ||
| Q2 25 | $473.6M | $98.3M | ||
| Q1 25 | $515.7M | $93.7M | ||
| Q4 24 | $560.4M | $90.5M | ||
| Q3 24 | $604.0M | $91.3M | ||
| Q2 24 | $620.1M | $84.9M | ||
| Q1 24 | $629.9M | $82.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.04× |
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 | $28.6M | $267.0K |
| Free Cash FlowOCF − Capex | $28.5M | $-17.4M |
| FCF MarginFCF / Revenue | 33.5% | -31.5% |
| Capex IntensityCapex / Revenue | 0.1% | 31.9% |
| Cash ConversionOCF / Net Profit | 1.47× | 0.11× |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | $-16.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $267.0K | ||
| Q3 25 | $-46.5M | $6.9M | ||
| Q2 25 | $-43.4M | $3.9M | ||
| Q1 25 | $-47.8M | $-150.0K | ||
| Q4 24 | $-134.6M | $-2.6M | ||
| Q3 24 | $-29.4M | $7.5M | ||
| Q2 24 | $-30.2M | $6.5M | ||
| Q1 24 | $-29.1M | $1.5M |
| Q4 25 | $28.5M | $-17.4M | ||
| Q3 25 | $-46.6M | $1.8M | ||
| Q2 25 | $-43.4M | $1.6M | ||
| Q1 25 | $-48.4M | $-2.4M | ||
| Q4 24 | $-138.4M | $-3.8M | ||
| Q3 24 | $-31.2M | $5.9M | ||
| Q2 24 | $-30.6M | $5.1M | ||
| Q1 24 | $-29.8M | $-923.0K |
| Q4 25 | 33.5% | -31.5% | ||
| Q3 25 | -51765.6% | 3.1% | ||
| Q2 25 | -289620.0% | 3.0% | ||
| Q1 25 | -345635.7% | -5.1% | ||
| Q4 24 | -13837100.0% | -8.2% | ||
| Q3 24 | -1038966.7% | 12.8% | ||
| Q2 24 | -611840.0% | 10.4% | ||
| Q1 24 | -106421.4% | -2.1% |
| Q4 25 | 0.1% | 31.9% | ||
| Q3 25 | 101.1% | 9.0% | ||
| Q2 25 | 440.0% | 4.3% | ||
| Q1 25 | 4507.1% | 4.8% | ||
| Q4 24 | 378600.0% | 2.7% | ||
| Q3 24 | 59266.7% | 3.3% | ||
| Q2 24 | 6980.0% | 2.9% | ||
| Q1 24 | 2535.7% | 5.5% |
| Q4 25 | 1.47× | 0.11× | ||
| Q3 25 | — | 1.96× | ||
| Q2 25 | — | 0.92× | ||
| Q1 25 | — | -0.04× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 2.50× | ||
| Q2 24 | — | 1.73× | ||
| Q1 24 | — | 0.64× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FDMT
Segment breakdown not available.
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
