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Side-by-side financial comparison of 4D Molecular Therapeutics, Inc. (FDMT) and TELOS CORP (TLS). 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 $46.8M, roughly 1.8× TELOS CORP). 4D Molecular Therapeutics, Inc. runs the higher net margin — 22.8% vs -34.9%, a 57.7% gap on every dollar of revenue. On growth, 4D Molecular Therapeutics, Inc. posted the faster year-over-year revenue change (8508900.0% vs 77.4%). 4D Molecular Therapeutics, Inc. produced more free cash flow last quarter ($28.5M vs $8.0M). Over the past eight quarters, 4D Molecular Therapeutics, Inc.'s revenue compounded faster (5412.6% CAGR vs 25.7%).
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.
Telos Corporation is an information technology and cybersecurity company located in Ashburn, Virginia. Telos primarily serves government and enterprise clients, receiving a large number of its contracts from the United States Department of Defense. Customers are primarily military, intelligence and civilian agencies of the US government and NATO allies.
FDMT vs TLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $85.1M | $46.8M |
| Net Profit | $19.4M | $-16.3M |
| Gross Margin | — | 35.0% |
| Operating Margin | 17.3% | -39.6% |
| Net Margin | 22.8% | -34.9% |
| Revenue YoY | 8508900.0% | 77.4% |
| Net Profit YoY | 139.1% | -74.8% |
| EPS (diluted) | $0.43 | $-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.
| Q4 25 | $85.1M | $46.8M | ||
| Q3 25 | $90.0K | $51.4M | ||
| Q2 25 | $15.0K | $36.0M | ||
| Q1 25 | $14.0K | $30.6M | ||
| Q4 24 | $1.0K | $26.4M | ||
| Q3 24 | $3.0K | $23.8M | ||
| Q2 24 | $5.0K | $28.5M | ||
| Q1 24 | $28.0K | $29.6M |
| Q4 25 | $19.4M | $-16.3M | ||
| Q3 25 | $-56.9M | $-2.1M | ||
| Q2 25 | $-54.7M | $-9.5M | ||
| Q1 25 | $-48.0M | $-8.6M | ||
| Q4 24 | — | $-9.3M | ||
| Q3 24 | $-43.8M | $-28.1M | ||
| Q2 24 | $-35.0M | $-7.8M | ||
| Q1 24 | $-32.4M | $-7.4M |
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 39.9% | ||
| Q2 25 | — | 33.2% | ||
| Q1 25 | — | 39.8% | ||
| Q4 24 | — | 40.3% | ||
| Q3 24 | — | 13.2% | ||
| Q2 24 | — | 34.1% | ||
| Q1 24 | — | 37.0% |
| Q4 25 | 17.3% | -39.6% | ||
| Q3 25 | -67983.3% | -4.8% | ||
| Q2 25 | -396373.3% | -27.5% | ||
| Q1 25 | -383007.1% | -29.5% | ||
| Q4 24 | — | -37.6% | ||
| Q3 24 | -1704400.0% | -121.4% | ||
| Q2 24 | -849120.0% | -30.3% | ||
| Q1 24 | -136200.0% | -28.5% |
| Q4 25 | 22.8% | -34.9% | ||
| Q3 25 | -63195.6% | -4.1% | ||
| Q2 25 | -364386.7% | -26.5% | ||
| Q1 25 | -342657.1% | -28.1% | ||
| Q4 24 | — | -35.4% | ||
| Q3 24 | -1461433.3% | -118.0% | ||
| Q2 24 | -699060.0% | -27.2% | ||
| Q1 24 | -115717.9% | -24.9% |
| Q4 25 | $0.43 | $-0.22 | ||
| Q3 25 | $-1.01 | $-0.03 | ||
| Q2 25 | $-0.98 | $-0.13 | ||
| Q1 25 | $-0.86 | $-0.12 | ||
| Q4 24 | — | $-0.13 | ||
| Q3 24 | $-0.79 | $-0.39 | ||
| Q2 24 | $-0.63 | $-0.11 | ||
| Q1 24 | $-0.66 | $-0.10 |
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 | $53.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $505.7M | $96.0M |
| Total Assets | $566.7M | $139.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $402.7M | $53.2M | ||
| Q3 25 | $305.1M | $59.0M | ||
| Q2 25 | $293.2M | $57.0M | ||
| Q1 25 | $321.4M | $57.8M | ||
| Q4 24 | $424.9M | $54.6M | ||
| Q3 24 | $501.9M | $69.8M | ||
| Q2 24 | $541.9M | $80.1M | ||
| Q1 24 | $525.9M | $93.9M |
| Q4 25 | $505.7M | $96.0M | ||
| Q3 25 | $369.0M | $119.7M | ||
| Q2 25 | $420.9M | $118.4M | ||
| Q1 25 | $469.7M | $126.1M | ||
| Q4 24 | $510.6M | $127.1M | ||
| Q3 24 | $552.9M | $129.5M | ||
| Q2 24 | $588.3M | $149.1M | ||
| Q1 24 | $600.6M | $154.4M |
| Q4 25 | $566.7M | $139.9M | ||
| Q3 25 | $424.0M | $164.3M | ||
| Q2 25 | $473.6M | $165.0M | ||
| Q1 25 | $515.7M | $158.1M | ||
| Q4 24 | $560.4M | $158.2M | ||
| Q3 24 | $604.0M | $166.3M | ||
| Q2 24 | $620.1M | $182.4M | ||
| Q1 24 | $629.9M | $195.4M |
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 | $8.0M |
| Free Cash FlowOCF − Capex | $28.5M | $8.0M |
| FCF MarginFCF / Revenue | 33.5% | 17.0% |
| Capex IntensityCapex / Revenue | 0.1% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.47× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-109.9M | $29.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $28.6M | $8.0M | ||
| Q3 25 | $-46.5M | $9.1M | ||
| Q2 25 | $-43.4M | $7.0M | ||
| Q1 25 | $-47.8M | $6.1M | ||
| Q4 24 | $-134.6M | $-10.5M | ||
| Q3 24 | $-29.4M | $-7.1M | ||
| Q2 24 | $-30.2M | $-8.0M | ||
| Q1 24 | $-29.1M | $-350.0K |
| Q4 25 | $28.5M | $8.0M | ||
| Q3 25 | $-46.6M | $8.7M | ||
| Q2 25 | $-43.4M | $6.8M | ||
| Q1 25 | $-48.4M | $6.0M | ||
| Q4 24 | $-138.4M | $-12.4M | ||
| Q3 24 | $-31.2M | $-7.1M | ||
| Q2 24 | $-30.6M | $-8.2M | ||
| Q1 24 | $-29.8M | $-447.0K |
| Q4 25 | 33.5% | 17.0% | ||
| Q3 25 | -51765.6% | 16.9% | ||
| Q2 25 | -289620.0% | 19.0% | ||
| Q1 25 | -345635.7% | 19.5% | ||
| Q4 24 | -13837100.0% | -47.0% | ||
| Q3 24 | -1038966.7% | -30.0% | ||
| Q2 24 | -611840.0% | -28.9% | ||
| Q1 24 | -106421.4% | -1.5% |
| Q4 25 | 0.1% | 0.1% | ||
| Q3 25 | 101.1% | 0.9% | ||
| Q2 25 | 440.0% | 0.4% | ||
| Q1 25 | 4507.1% | 0.4% | ||
| Q4 24 | 378600.0% | 7.1% | ||
| Q3 24 | 59266.7% | 0.2% | ||
| Q2 24 | 6980.0% | 0.8% | ||
| Q1 24 | 2535.7% | 0.3% |
| Q4 25 | 1.47× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FDMT
Segment breakdown not available.
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
