vs
Side-by-side financial comparison of FENNEC PHARMACEUTICALS INC. (FENC) and KOPIN CORP (KOPN). Click either name above to swap in a different company.
FENNEC PHARMACEUTICALS INC. is the larger business by last-quarter revenue ($13.8M vs $8.4M, roughly 1.6× KOPIN CORP). KOPIN CORP runs the higher net margin — 81.3% vs -34.7%, a 116.1% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs -42.9%). Over the past eight quarters, KOPIN CORP's revenue compounded faster (-8.7% CAGR vs -26.3%).
Fennec Pharmaceuticals Inc. is a biopharmaceutical firm focused on developing and commercializing therapies to reduce treatment-related side effects in pediatric cancer patients. Its lead product targets chemotherapy-induced ototoxicity, with core North American markets serving oncology providers and vulnerable pediatric patient groups.
The Kopin Corporation is a Westborough, Massachusetts-based electronics manufacturer, best known for its microdisplay devices and application specific optical solutions for defense, enterprise, medical and consumer mobile electronics.
FENC vs KOPN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.8M | $8.4M |
| Net Profit | $-4.8M | $6.8M |
| Gross Margin | — | — |
| Operating Margin | -18.5% | -60.0% |
| Net Margin | -34.7% | 81.3% |
| Revenue YoY | 73.8% | -42.9% |
| Net Profit YoY | -141.1% | 449.5% |
| EPS (diluted) | $-0.17 | $0.04 |
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 | $13.8M | $8.4M | ||
| Q3 25 | $12.5M | $12.0M | ||
| Q2 25 | $9.7M | $8.5M | ||
| Q1 25 | $8.8M | $10.5M | ||
| Q4 24 | $7.9M | $14.6M | ||
| Q3 24 | $7.0M | $13.3M | ||
| Q2 24 | $7.3M | $12.3M | ||
| Q1 24 | $25.4M | $10.0M |
| Q4 25 | $-4.8M | $6.8M | ||
| Q3 25 | $-638.0K | $4.1M | ||
| Q2 25 | $-3.2M | $-5.2M | ||
| Q1 25 | $-1.2M | $-3.1M | ||
| Q4 24 | $-2.0M | $-1.9M | ||
| Q3 24 | $-5.7M | $-3.5M | ||
| Q2 24 | $-5.6M | $-5.9M | ||
| Q1 24 | $12.8M | $-32.5M |
| Q4 25 | -18.5% | -60.0% | ||
| Q3 25 | -1.5% | 37.9% | ||
| Q2 25 | -28.3% | -64.6% | ||
| Q1 25 | -9.2% | -37.1% | ||
| Q4 24 | -11.8% | -15.1% | ||
| Q3 24 | -74.6% | -21.0% | ||
| Q2 24 | -69.4% | -44.2% | ||
| Q1 24 | 54.2% | -325.4% |
| Q4 25 | -34.7% | 81.3% | ||
| Q3 25 | -5.1% | 34.1% | ||
| Q2 25 | -32.7% | -61.1% | ||
| Q1 25 | -13.3% | -29.5% | ||
| Q4 24 | -25.0% | -13.3% | ||
| Q3 24 | -82.2% | -26.0% | ||
| Q2 24 | -76.5% | -48.0% | ||
| Q1 24 | 50.6% | -324.4% |
| Q4 25 | $-0.17 | $0.04 | ||
| Q3 25 | $-0.02 | $0.02 | ||
| Q2 25 | $-0.11 | $-0.03 | ||
| Q1 25 | $-0.04 | $-0.02 | ||
| Q4 24 | $-0.02 | $0.02 | ||
| Q3 24 | $-0.21 | $-0.03 | ||
| Q2 24 | $-0.20 | $-0.05 | ||
| Q1 24 | $0.41 | $-0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.8M | $36.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $35.5M | $64.1M |
| Total Assets | $70.6M | $108.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.8M | $36.4M | ||
| Q3 25 | $21.9M | $26.5M | ||
| Q2 25 | $18.7M | $26.8M | ||
| Q1 25 | $22.7M | $31.5M | ||
| Q4 24 | $26.6M | $35.6M | ||
| Q3 24 | $40.3M | $36.2M | ||
| Q2 24 | $43.1M | $17.6M | ||
| Q1 24 | $51.2M | $21.1M |
| Q4 25 | — | — | ||
| Q3 25 | $19.4M | — | ||
| Q2 25 | $19.4M | — | ||
| Q1 25 | $19.4M | — | ||
| Q4 24 | $19.3M | — | ||
| Q3 24 | $32.1M | — | ||
| Q2 24 | $31.8M | — | ||
| Q1 24 | $31.3M | — |
| Q4 25 | $35.5M | $64.1M | ||
| Q3 25 | $-4.5M | $21.3M | ||
| Q2 25 | $-7.5M | $16.0M | ||
| Q1 25 | $-5.9M | $20.7M | ||
| Q4 24 | $-5.9M | $23.3M | ||
| Q3 24 | $-5.2M | $22.7M | ||
| Q2 24 | $-1.4M | $-216.3K | ||
| Q1 24 | $3.0M | $4.9M |
| Q4 25 | $70.6M | $108.4M | ||
| Q3 25 | $49.3M | $61.2M | ||
| Q2 25 | $44.9M | $61.2M | ||
| Q1 25 | $46.4M | $65.0M | ||
| Q4 24 | $44.9M | $70.8M | ||
| Q3 24 | $58.9M | $70.6M | ||
| Q2 24 | $63.2M | $49.0M | ||
| Q1 24 | $69.2M | $51.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 10.40× | — |
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 | $-6.0M | $-7.9M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | -1.15× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $-7.9M | ||
| Q3 25 | $1.5M | $-110.4K | ||
| Q2 25 | $-3.7M | $-4.2M | ||
| Q1 25 | $-4.3M | $-3.4M | ||
| Q4 24 | $-1.5M | $-1.6M | ||
| Q3 24 | $-2.2M | $-6.5M | ||
| Q2 24 | $-8.4M | $-3.1M | ||
| Q1 24 | $39.0M | $-3.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-4.9M | ||
| Q1 25 | — | $-3.9M | ||
| Q4 24 | — | $-2.1M | ||
| Q3 24 | — | $-6.5M | ||
| Q2 24 | — | $-3.1M | ||
| Q1 24 | — | $-3.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -57.9% | ||
| Q1 25 | — | -37.1% | ||
| Q4 24 | — | -14.2% | ||
| Q3 24 | — | -48.6% | ||
| Q2 24 | — | -25.5% | ||
| Q1 24 | — | -33.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 8.7% | ||
| Q1 25 | — | 4.7% | ||
| Q4 24 | — | 3.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.5% | ||
| Q1 24 | — | 2.4% |
| Q4 25 | — | -1.15× | ||
| Q3 25 | — | -0.03× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 3.04× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FENC
Segment breakdown not available.
KOPN
| Net Product Revenues | $5.6M | 67% |
| Other | $2.7M | 33% |
