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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) and MAXLINEAR, INC (MXL). Click either name above to swap in a different company.
MAXLINEAR, INC is the larger business by last-quarter revenue ($137.2M vs $85.1M, roughly 1.6× 4D Molecular Therapeutics, Inc.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs -32.9%, a 55.7% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 43.0%). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 22.1%).
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.
MaxLinear, Inc. is an American electronic hardware company. Founded in 2003, it provides highly integrated radio-frequency (RF) analog and mixed-signal semiconductor products for broadband communications applications. It is a New York Stock Exchange-traded company.
FDMT vs MXL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $137.2M |
| Net Profit | $19.4M | $-45.1M |
| Gross Margin | — | 57.5% |
| Operating Margin | 17.3% | 30.0% |
| Net Margin | 22.8% | -32.9% |
| Revenue YoY | 8508900.0% | 43.0% |
| Net Profit YoY | 139.1% | -203.0% |
| EPS (diluted) | $0.43 | $-0.52 |
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.
| Q1 26 | — | $137.2M | ||
| Q4 25 | $85.1M | $136.4M | ||
| Q3 25 | $90.0K | $126.5M | ||
| Q2 25 | $15.0K | $108.8M | ||
| Q1 25 | $14.0K | $95.9M | ||
| Q4 24 | $1.0K | $92.2M | ||
| Q3 24 | $3.0K | $81.1M | ||
| Q2 24 | $5.0K | $92.0M |
| Q1 26 | — | $-45.1M | ||
| Q4 25 | $19.4M | $-14.9M | ||
| Q3 25 | $-56.9M | $-45.5M | ||
| Q2 25 | $-54.7M | $-26.6M | ||
| Q1 25 | $-48.0M | $-49.7M | ||
| Q4 24 | — | $-57.8M | ||
| Q3 24 | $-43.8M | $-75.8M | ||
| Q2 24 | $-35.0M | $-39.3M |
| Q1 26 | — | 57.5% | ||
| Q4 25 | — | 57.6% | ||
| Q3 25 | — | 56.9% | ||
| Q2 25 | — | 56.5% | ||
| Q1 25 | — | 56.1% | ||
| Q4 24 | — | 55.6% | ||
| Q3 24 | — | 54.4% | ||
| Q2 24 | — | 54.6% |
| Q1 26 | — | 30.0% | ||
| Q4 25 | 17.3% | -10.9% | ||
| Q3 25 | -67983.3% | -32.7% | ||
| Q2 25 | -396373.3% | -22.6% | ||
| Q1 25 | -383007.1% | -48.0% | ||
| Q4 24 | — | -44.7% | ||
| Q3 24 | -1704400.0% | -82.3% | ||
| Q2 24 | -849120.0% | -44.4% |
| Q1 26 | — | -32.9% | ||
| Q4 25 | 22.8% | -10.9% | ||
| Q3 25 | -63195.6% | -36.0% | ||
| Q2 25 | -364386.7% | -24.4% | ||
| Q1 25 | -342657.1% | -51.8% | ||
| Q4 24 | — | -62.8% | ||
| Q3 24 | -1461433.3% | -93.4% | ||
| Q2 24 | -699060.0% | -42.7% |
| Q1 26 | — | $-0.52 | ||
| Q4 25 | $0.43 | $-0.17 | ||
| Q3 25 | $-1.01 | $-0.52 | ||
| Q2 25 | $-0.98 | $-0.31 | ||
| Q1 25 | $-0.86 | $-0.58 | ||
| Q4 24 | — | $-0.68 | ||
| Q3 24 | $-0.79 | $-0.90 | ||
| Q2 24 | $-0.63 | $-0.47 |
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 | $61.1M |
| Total DebtLower is stronger | — | $123.8M |
| Stockholders' EquityBook value | $505.7M | $454.2M |
| Total Assets | $566.7M | $771.3M |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $61.1M | ||
| Q4 25 | $402.7M | $72.8M | ||
| Q3 25 | $305.1M | $111.9M | ||
| Q2 25 | $293.2M | $108.6M | ||
| Q1 25 | $321.4M | $102.8M | ||
| Q4 24 | $424.9M | $118.6M | ||
| Q3 24 | $501.9M | $148.5M | ||
| Q2 24 | $541.9M | $185.1M |
| Q1 26 | — | $123.8M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $454.2M | ||
| Q4 25 | $505.7M | $451.9M | ||
| Q3 25 | $369.0M | $464.7M | ||
| Q2 25 | $420.9M | $488.3M | ||
| Q1 25 | $469.7M | $493.2M | ||
| Q4 24 | $510.6M | $516.3M | ||
| Q3 24 | $552.9M | $556.9M | ||
| Q2 24 | $588.3M | $617.3M |
| Q1 26 | — | $771.3M | ||
| Q4 25 | $566.7M | $796.4M | ||
| Q3 25 | $424.0M | $808.1M | ||
| Q2 25 | $473.6M | $863.7M | ||
| Q1 25 | $515.7M | $855.3M | ||
| Q4 24 | $560.4M | $864.6M | ||
| Q3 24 | $604.0M | $895.3M | ||
| Q2 24 | $620.1M | $973.2M |
| Q1 26 | — | 0.27× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — |
| Free Cash FlowOCF − Capex | $28.5M | — |
| FCF MarginFCF / Revenue | 33.5% | — |
| Capex IntensityCapex / Revenue | 0.1% | — |
| Cash ConversionOCF / Net Profit | 1.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $28.6M | $10.4M | ||
| Q3 25 | $-46.5M | $10.1M | ||
| Q2 25 | $-43.4M | $10.5M | ||
| Q1 25 | $-47.8M | $-11.4M | ||
| Q4 24 | $-134.6M | $-27.8M | ||
| Q3 24 | $-29.4M | $-30.7M | ||
| Q2 24 | $-30.2M | $-2.7M |
| Q1 26 | — | — | ||
| Q4 25 | $28.5M | $6.7M | ||
| Q3 25 | $-46.6M | $4.4M | ||
| Q2 25 | $-43.4M | $9.3M | ||
| Q1 25 | $-48.4M | $-13.4M | ||
| Q4 24 | $-138.4M | $-30.0M | ||
| Q3 24 | $-31.2M | $-34.9M | ||
| Q2 24 | $-30.6M | $-5.7M |
| Q1 26 | — | — | ||
| Q4 25 | 33.5% | 4.9% | ||
| Q3 25 | -51765.6% | 3.5% | ||
| Q2 25 | -289620.0% | 8.6% | ||
| Q1 25 | -345635.7% | -14.0% | ||
| Q4 24 | -13837100.0% | -32.6% | ||
| Q3 24 | -1038966.7% | -43.0% | ||
| Q2 24 | -611840.0% | -6.2% |
| Q1 26 | — | — | ||
| Q4 25 | 0.1% | 2.7% | ||
| Q3 25 | 101.1% | 4.5% | ||
| Q2 25 | 440.0% | 1.1% | ||
| Q1 25 | 4507.1% | 2.1% | ||
| Q4 24 | 378600.0% | 2.4% | ||
| Q3 24 | 59266.7% | 5.1% | ||
| Q2 24 | 6980.0% | 3.3% |
| Q1 26 | — | — | ||
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
