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Side-by-side financial comparison of FENNEC PHARMACEUTICALS INC. (FENC) and LiveWire Group, Inc. (LVWR). Click either name above to swap in a different company.
FENNEC PHARMACEUTICALS INC. is the larger business by last-quarter revenue ($13.8M vs $11.4M, roughly 1.2× LiveWire Group, Inc.). FENNEC PHARMACEUTICALS INC. runs the higher net margin — -34.7% vs -155.2%, a 120.5% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs 5.5%). Over the past eight quarters, LiveWire Group, Inc.'s revenue compounded faster (51.0% 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.
LiveWire is an American electric motorcycle manufacturer. It was initially launched as a dedicated electric vehicle (EV) division for Harley Davidson in July 2021. The company was spun-off from its parent and went public on September 27, 2022, via merger with a special-purpose acquisition company (SPAC). It was the first publicly traded electric motorcycle company in the United States.
FENC vs LVWR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.8M | $11.4M |
| Net Profit | $-4.8M | $-17.6M |
| Gross Margin | — | 0.8% |
| Operating Margin | -18.5% | -156.2% |
| Net Margin | -34.7% | -155.2% |
| Revenue YoY | 73.8% | 5.5% |
| Net Profit YoY | -141.1% | 22.6% |
| EPS (diluted) | $-0.17 | $-0.09 |
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 | $11.4M | ||
| Q3 25 | $12.5M | $5.7M | ||
| Q2 25 | $9.7M | $5.9M | ||
| Q1 25 | $8.8M | $2.7M | ||
| Q4 24 | $7.9M | $10.8M | ||
| Q3 24 | $7.0M | $4.4M | ||
| Q2 24 | $7.3M | $6.4M | ||
| Q1 24 | $25.4M | $5.0M |
| Q4 25 | $-4.8M | $-17.6M | ||
| Q3 25 | $-638.0K | $-19.4M | ||
| Q2 25 | $-3.2M | $-18.8M | ||
| Q1 25 | $-1.2M | $-19.3M | ||
| Q4 24 | $-2.0M | $-22.8M | ||
| Q3 24 | $-5.7M | $-22.7M | ||
| Q2 24 | $-5.6M | $-24.8M | ||
| Q1 24 | $12.8M | $-23.6M |
| Q4 25 | — | 0.8% | ||
| Q3 25 | — | -50.9% | ||
| Q2 25 | — | 9.3% | ||
| Q1 25 | — | -79.0% | ||
| Q4 24 | — | -49.8% | ||
| Q3 24 | — | -34.2% | ||
| Q2 24 | — | -27.6% | ||
| Q1 24 | — | -82.9% |
| Q4 25 | -18.5% | -156.2% | ||
| Q3 25 | -1.5% | -330.0% | ||
| Q2 25 | -28.3% | -311.0% | ||
| Q1 25 | -9.2% | -753.4% | ||
| Q4 24 | -11.8% | -234.6% | ||
| Q3 24 | -74.6% | -596.7% | ||
| Q2 24 | -69.4% | -436.7% | ||
| Q1 24 | 54.2% | -611.1% |
| Q4 25 | -34.7% | -155.2% | ||
| Q3 25 | -5.1% | -340.2% | ||
| Q2 25 | -32.7% | -320.6% | ||
| Q1 25 | -13.3% | -702.6% | ||
| Q4 24 | -25.0% | -211.7% | ||
| Q3 24 | -82.2% | -510.6% | ||
| Q2 24 | -76.5% | -384.6% | ||
| Q1 24 | 50.6% | -475.0% |
| Q4 25 | $-0.17 | $-0.09 | ||
| Q3 25 | $-0.02 | $-0.10 | ||
| Q2 25 | $-0.11 | $-0.09 | ||
| Q1 25 | $-0.04 | $-0.09 | ||
| Q4 24 | $-0.02 | $-0.11 | ||
| Q3 24 | $-0.21 | $-0.11 | ||
| Q2 24 | $-0.20 | $-0.12 | ||
| Q1 24 | $0.41 | $-0.12 |
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 | $82.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $35.5M | $46.0M |
| Total Assets | $70.6M | $146.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.8M | $82.8M | ||
| Q3 25 | $21.9M | $16.3M | ||
| Q2 25 | $18.7M | $29.3M | ||
| Q1 25 | $22.7M | $46.2M | ||
| Q4 24 | $26.6M | $64.4M | ||
| Q3 24 | $40.3M | $88.4M | ||
| Q2 24 | $43.1M | $113.0M | ||
| Q1 24 | $51.2M | $141.0M |
| 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 | $46.0M | ||
| Q3 25 | $-4.5M | $61.8M | ||
| Q2 25 | $-7.5M | $79.7M | ||
| Q1 25 | $-5.9M | $97.2M | ||
| Q4 24 | $-5.9M | $115.1M | ||
| Q3 24 | $-5.2M | $137.7M | ||
| Q2 24 | $-1.4M | $159.0M | ||
| Q1 24 | $3.0M | $183.8M |
| Q4 25 | $70.6M | $146.4M | ||
| Q3 25 | $49.3M | $89.2M | ||
| Q2 25 | $44.9M | $109.8M | ||
| Q1 25 | $46.4M | $128.3M | ||
| Q4 24 | $44.9M | $148.0M | ||
| Q3 24 | $58.9M | $178.3M | ||
| Q2 24 | $63.2M | $204.9M | ||
| Q1 24 | $69.2M | $237.1M |
| 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 | — | $-8.9M |
| FCF MarginFCF / Revenue | — | -78.7% |
| Capex IntensityCapex / Revenue | — | 9.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-57.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $-7.9M | ||
| Q3 25 | $1.5M | $-13.3M | ||
| Q2 25 | $-3.7M | $-14.9M | ||
| Q1 25 | $-4.3M | $-17.5M | ||
| Q4 24 | $-1.5M | $-21.9M | ||
| Q3 24 | $-2.2M | $-23.1M | ||
| Q2 24 | $-8.4M | $-26.0M | ||
| Q1 24 | $39.0M | $-22.9M |
| Q4 25 | — | $-8.9M | ||
| Q3 25 | — | $-14.0M | ||
| Q2 25 | — | $-16.3M | ||
| Q1 25 | — | $-18.1M | ||
| Q4 24 | — | $-23.3M | ||
| Q3 24 | — | $-24.7M | ||
| Q2 24 | — | $-27.8M | ||
| Q1 24 | — | $-26.2M |
| Q4 25 | — | -78.7% | ||
| Q3 25 | — | -245.9% | ||
| Q2 25 | — | -277.7% | ||
| Q1 25 | — | -660.0% | ||
| Q4 24 | — | -216.3% | ||
| Q3 24 | — | -555.3% | ||
| Q2 24 | — | -431.1% | ||
| Q1 24 | — | -525.6% |
| Q4 25 | — | 9.1% | ||
| Q3 25 | — | 12.9% | ||
| Q2 25 | — | 24.3% | ||
| Q1 25 | — | 22.3% | ||
| Q4 24 | — | 13.1% | ||
| Q3 24 | — | 35.6% | ||
| Q2 24 | — | 28.5% | ||
| Q1 24 | — | 65.1% |
| 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.
LVWR
| STACYC Segment | $7.5M | 66% |
| Other | $3.8M | 34% |
