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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) and STEM, INC. (STEM). 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 $47.1M, roughly 1.8× STEM, INC.). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs -33.9%, a 56.7% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs -15.6%). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 36.1%).
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.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
FDMT vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $47.1M |
| Net Profit | $19.4M | $-16.0M |
| Gross Margin | — | 48.9% |
| Operating Margin | 17.3% | -17.7% |
| Net Margin | 22.8% | -33.9% |
| Revenue YoY | 8508900.0% | -15.6% |
| Net Profit YoY | 139.1% | 68.8% |
| EPS (diluted) | $0.43 | $-4.40 |
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 | $47.1M | ||
| Q3 25 | $90.0K | $38.2M | ||
| Q2 25 | $15.0K | $38.4M | ||
| Q1 25 | $14.0K | $32.5M | ||
| Q4 24 | $1.0K | $55.8M | ||
| Q3 24 | $3.0K | $29.3M | ||
| Q2 24 | $5.0K | $34.0M | ||
| Q1 24 | $28.0K | $25.5M |
| Q4 25 | $19.4M | $-16.0M | ||
| Q3 25 | $-56.9M | $-23.8M | ||
| Q2 25 | $-54.7M | $202.5M | ||
| Q1 25 | $-48.0M | $-25.0M | ||
| Q4 24 | — | $-51.1M | ||
| Q3 24 | $-43.8M | $-148.3M | ||
| Q2 24 | $-35.0M | $-582.3M | ||
| Q1 24 | $-32.4M | $-72.3M |
| Q4 25 | — | 48.9% | ||
| Q3 25 | — | 35.5% | ||
| Q2 25 | — | 33.4% | ||
| Q1 25 | — | 32.4% | ||
| Q4 24 | — | -4.4% | ||
| Q3 24 | — | 21.2% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | -95.0% |
| Q4 25 | 17.3% | -17.7% | ||
| Q3 25 | -67983.3% | -33.6% | ||
| Q2 25 | -396373.3% | -34.8% | ||
| Q1 25 | -383007.1% | -65.0% | ||
| Q4 24 | — | -84.4% | ||
| Q3 24 | -1704400.0% | -493.2% | ||
| Q2 24 | -849120.0% | -1705.5% | ||
| Q1 24 | -136200.0% | -267.0% |
| Q4 25 | 22.8% | -33.9% | ||
| Q3 25 | -63195.6% | -62.2% | ||
| Q2 25 | -364386.7% | 527.8% | ||
| Q1 25 | -342657.1% | -76.9% | ||
| Q4 24 | — | -91.6% | ||
| Q3 24 | -1461433.3% | -506.3% | ||
| Q2 24 | -699060.0% | -1712.6% | ||
| Q1 24 | -115717.9% | -283.9% |
| Q4 25 | $0.43 | $-4.40 | ||
| Q3 25 | $-1.01 | $-2.84 | ||
| Q2 25 | $-0.98 | $-1.79 | ||
| Q1 25 | $-0.86 | $-0.15 | ||
| Q4 24 | — | $-15.29 | ||
| Q3 24 | $-0.79 | $-18.24 | ||
| Q2 24 | $-0.63 | $-71.81 | ||
| Q1 24 | $-0.66 | $-0.46 |
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 | $48.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $505.7M | $-249.4M |
| Total Assets | $566.7M | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $402.7M | $48.9M | ||
| Q3 25 | $305.1M | $43.1M | ||
| Q2 25 | $293.2M | $40.8M | ||
| Q1 25 | $321.4M | $58.6M | ||
| Q4 24 | $424.9M | $56.3M | ||
| Q3 24 | $501.9M | $75.4M | ||
| Q2 24 | $541.9M | $89.6M | ||
| Q1 24 | $525.9M | $112.8M |
| Q4 25 | $505.7M | $-249.4M | ||
| Q3 25 | $369.0M | $-235.7M | ||
| Q2 25 | $420.9M | $-214.1M | ||
| Q1 25 | $469.7M | $-417.5M | ||
| Q4 24 | $510.6M | $-398.4M | ||
| Q3 24 | $552.9M | $-344.1M | ||
| Q2 24 | $588.3M | $-203.2M | ||
| Q1 24 | $600.6M | $371.6M |
| Q4 25 | $566.7M | $308.9M | ||
| Q3 25 | $424.0M | $362.6M | ||
| Q2 25 | $473.6M | $379.2M | ||
| Q1 25 | $515.7M | $405.1M | ||
| Q4 24 | $560.4M | $437.4M | ||
| Q3 24 | $604.0M | $537.8M | ||
| Q2 24 | $620.1M | $691.5M | ||
| Q1 24 | $629.9M | $1.3B |
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 | $8.2M |
| 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.
| Q4 25 | $28.6M | $8.2M | ||
| Q3 25 | $-46.5M | $11.4M | ||
| Q2 25 | $-43.4M | $-21.3M | ||
| Q1 25 | $-47.8M | $8.5M | ||
| Q4 24 | $-134.6M | $-14.7M | ||
| Q3 24 | $-29.4M | $-9.4M | ||
| Q2 24 | $-30.2M | $-11.9M | ||
| Q1 24 | $-29.1M | $-621.0K |
| Q4 25 | $28.5M | — | ||
| Q3 25 | $-46.6M | — | ||
| Q2 25 | $-43.4M | — | ||
| Q1 25 | $-48.4M | — | ||
| Q4 24 | $-138.4M | — | ||
| Q3 24 | $-31.2M | — | ||
| Q2 24 | $-30.6M | — | ||
| Q1 24 | $-29.8M | — |
| Q4 25 | 33.5% | — | ||
| Q3 25 | -51765.6% | — | ||
| Q2 25 | -289620.0% | — | ||
| Q1 25 | -345635.7% | — | ||
| Q4 24 | -13837100.0% | — | ||
| Q3 24 | -1038966.7% | — | ||
| Q2 24 | -611840.0% | — | ||
| Q1 24 | -106421.4% | — |
| Q4 25 | 0.1% | — | ||
| Q3 25 | 101.1% | — | ||
| Q2 25 | 440.0% | — | ||
| Q1 25 | 4507.1% | — | ||
| Q4 24 | 378600.0% | — | ||
| Q3 24 | 59266.7% | — | ||
| Q2 24 | 6980.0% | — | ||
| Q1 24 | 2535.7% | — |
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.11× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
