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Side-by-side financial comparison of FENNEC PHARMACEUTICALS INC. (FENC) and Laird Superfood, Inc. (LSF). Click either name above to swap in a different company.
FENNEC PHARMACEUTICALS INC. is the larger business by last-quarter revenue ($13.8M vs $13.3M, roughly 1.0× Laird Superfood, Inc.). Laird Superfood, Inc. runs the higher net margin — -13.2% vs -34.7%, a 21.6% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs 15.0%). Over the past eight quarters, Laird Superfood, Inc.'s revenue compounded faster (16.1% 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.
Laird Superfood, Inc. develops, manufactures and sells a portfolio of plant-based functional superfood products, including premium coffee creamers, hydration blends, nutritional supplements, and plant-powered snacks. It serves health-conscious consumers through direct-to-consumer e-commerce platforms and offline retail partners, mainly operating in the North American market with a focus on sustainably sourced clean ingredients.
FENC vs LSF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.8M | $13.3M |
| Net Profit | $-4.8M | $-1.8M |
| Gross Margin | — | 34.1% |
| Operating Margin | -18.5% | -13.5% |
| Net Margin | -34.7% | -13.2% |
| Revenue YoY | 73.8% | 15.0% |
| Net Profit YoY | -141.1% | -341.4% |
| EPS (diluted) | $-0.17 | — |
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 | $13.3M | ||
| Q3 25 | $12.5M | $12.9M | ||
| Q2 25 | $9.7M | $12.0M | ||
| Q1 25 | $8.8M | $11.7M | ||
| Q4 24 | $7.9M | $11.6M | ||
| Q3 24 | $7.0M | $11.8M | ||
| Q2 24 | $7.3M | $10.0M | ||
| Q1 24 | $25.4M | $9.9M |
| Q4 25 | $-4.8M | $-1.8M | ||
| Q3 25 | $-638.0K | $-975.1K | ||
| Q2 25 | $-3.2M | $-362.2K | ||
| Q1 25 | $-1.2M | $-156.2K | ||
| Q4 24 | $-2.0M | $-398.4K | ||
| Q3 24 | $-5.7M | $-166.1K | ||
| Q2 24 | $-5.6M | $-239.1K | ||
| Q1 24 | $12.8M | $-1.0M |
| Q4 25 | — | 34.1% | ||
| Q3 25 | — | 36.5% | ||
| Q2 25 | — | 39.9% | ||
| Q1 25 | — | 41.9% | ||
| Q4 24 | — | 38.6% | ||
| Q3 24 | — | 43.0% | ||
| Q2 24 | — | 41.8% | ||
| Q1 24 | — | 40.0% |
| Q4 25 | -18.5% | -13.5% | ||
| Q3 25 | -1.5% | -7.7% | ||
| Q2 25 | -28.3% | -3.3% | ||
| Q1 25 | -9.2% | -1.9% | ||
| Q4 24 | -11.8% | -4.1% | ||
| Q3 24 | -74.6% | -2.3% | ||
| Q2 24 | -69.4% | -3.4% | ||
| Q1 24 | 54.2% | -11.0% |
| Q4 25 | -34.7% | -13.2% | ||
| Q3 25 | -5.1% | -7.6% | ||
| Q2 25 | -32.7% | -3.0% | ||
| Q1 25 | -13.3% | -1.3% | ||
| Q4 24 | -25.0% | -3.4% | ||
| Q3 24 | -82.2% | -1.4% | ||
| Q2 24 | -76.5% | -2.4% | ||
| Q1 24 | 50.6% | -10.3% |
| Q4 25 | $-0.17 | — | ||
| Q3 25 | $-0.02 | — | ||
| Q2 25 | $-0.11 | — | ||
| Q1 25 | $-0.04 | — | ||
| Q4 24 | $-0.02 | — | ||
| Q3 24 | $-0.21 | — | ||
| Q2 24 | $-0.20 | — | ||
| Q1 24 | $0.41 | — |
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 | $5.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $35.5M | $11.5M |
| Total Assets | $70.6M | $19.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.8M | $5.1M | ||
| Q3 25 | $21.9M | $5.1M | ||
| Q2 25 | $18.7M | $3.9M | ||
| Q1 25 | $22.7M | $7.0M | ||
| Q4 24 | $26.6M | $8.3M | ||
| Q3 24 | $40.3M | $7.9M | ||
| Q2 24 | $43.1M | $7.6M | ||
| Q1 24 | $51.2M | $7.1M |
| 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 | $11.5M | ||
| Q3 25 | $-4.5M | $12.8M | ||
| Q2 25 | $-7.5M | $13.4M | ||
| Q1 25 | $-5.9M | $13.3M | ||
| Q4 24 | $-5.9M | $13.2M | ||
| Q3 24 | $-5.2M | $13.1M | ||
| Q2 24 | $-1.4M | $12.6M | ||
| Q1 24 | $3.0M | $12.7M |
| Q4 25 | $70.6M | $19.2M | ||
| Q3 25 | $49.3M | $18.9M | ||
| Q2 25 | $44.9M | $20.4M | ||
| Q1 25 | $46.4M | $21.5M | ||
| Q4 24 | $44.9M | $19.3M | ||
| Q3 24 | $58.9M | $18.8M | ||
| Q2 24 | $63.2M | $18.0M | ||
| Q1 24 | $69.2M | $17.6M |
| 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 | $68.4K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $68.4K | ||
| Q3 25 | $1.5M | $1.2M | ||
| Q2 25 | $-3.7M | $-2.8M | ||
| Q1 25 | $-4.3M | $-1.3M | ||
| Q4 24 | $-1.5M | $339.2K | ||
| Q3 24 | $-2.2M | $305.8K | ||
| Q2 24 | $-8.4M | $642.7K | ||
| Q1 24 | $39.0M | $-422.3K |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| 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.
LSF
| Wholesale | $7.0M | 52% |
| Coffee Tea And Hot Chocolate Products | $4.4M | 33% |
| Hydration And Beverage Enhancing Supplements | $1.6M | 12% |
| Other | $352.6K | 3% |
