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Side-by-side financial comparison of FENNEC PHARMACEUTICALS INC. (FENC) and NexPoint Real Estate Finance, Inc. (NREF). Click either name above to swap in a different company.
FENNEC PHARMACEUTICALS INC. is the larger business by last-quarter revenue ($13.8M vs $11.1M, roughly 1.2× NexPoint Real Estate Finance, Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs -34.7%, a 251.4% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs -48.8%).
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.
NexPoint Real Estate Finance, Inc. is a US-based commercial real estate finance firm that offers structured financing solutions for multifamily, office, industrial, and hospitality properties. It focuses on originating, managing and servicing a diversified portfolio of mortgage loans and real estate-related investments to deliver stable risk-adjusted returns to stakeholders.
FENC vs NREF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.8M | $11.1M |
| Net Profit | $-4.8M | $24.0M |
| Gross Margin | — | — |
| Operating Margin | -18.5% | — |
| Net Margin | -34.7% | 216.6% |
| Revenue YoY | 73.8% | -48.8% |
| Net Profit YoY | -141.1% | 58.7% |
| EPS (diluted) | $-0.17 | $0.47 |
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 | $11.1M | ||
| Q3 25 | $12.5M | $12.5M | ||
| Q2 25 | $9.7M | $12.1M | ||
| Q1 25 | $8.8M | $11.5M | ||
| Q4 24 | $7.9M | $21.7M | ||
| Q3 24 | $7.0M | $12.5M | ||
| Q2 24 | $7.3M | $6.7M | ||
| Q1 24 | $25.4M | $-12.8M |
| Q4 25 | $-4.8M | $24.0M | ||
| Q3 25 | $-638.0K | $50.9M | ||
| Q2 25 | $-3.2M | $22.3M | ||
| Q1 25 | $-1.2M | $26.0M | ||
| Q4 24 | $-2.0M | $15.2M | ||
| Q3 24 | $-5.7M | $23.3M | ||
| Q2 24 | $-5.6M | $12.1M | ||
| Q1 24 | $12.8M | $-14.6M |
| Q4 25 | -18.5% | — | ||
| Q3 25 | -1.5% | — | ||
| Q2 25 | -28.3% | — | ||
| Q1 25 | -9.2% | — | ||
| Q4 24 | -11.8% | — | ||
| Q3 24 | -74.6% | — | ||
| Q2 24 | -69.4% | — | ||
| Q1 24 | 54.2% | — |
| Q4 25 | -34.7% | 216.6% | ||
| Q3 25 | -5.1% | 407.0% | ||
| Q2 25 | -32.7% | 184.5% | ||
| Q1 25 | -13.3% | 225.6% | ||
| Q4 24 | -25.0% | 69.9% | ||
| Q3 24 | -82.2% | 186.4% | ||
| Q2 24 | -76.5% | 179.7% | ||
| Q1 24 | 50.6% | 114.3% |
| Q4 25 | $-0.17 | $0.47 | ||
| Q3 25 | $-0.02 | $1.14 | ||
| Q2 25 | $-0.11 | $0.54 | ||
| Q1 25 | $-0.04 | $0.70 | ||
| Q4 24 | $-0.02 | $0.71 | ||
| Q3 24 | $-0.21 | $0.74 | ||
| Q2 24 | $-0.20 | $0.40 | ||
| Q1 24 | $0.41 | $-0.83 |
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 | $31.1M |
| Total DebtLower is stronger | — | $771.2M |
| Stockholders' EquityBook value | $35.5M | $388.0M |
| Total Assets | $70.6M | $5.3B |
| Debt / EquityLower = less leverage | — | 1.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.8M | $31.1M | ||
| Q3 25 | $21.9M | $17.9M | ||
| Q2 25 | $18.7M | $9.1M | ||
| Q1 25 | $22.7M | $19.2M | ||
| Q4 24 | $26.6M | $3.9M | ||
| Q3 24 | $40.3M | $34.7M | ||
| Q2 24 | $43.1M | $4.3M | ||
| Q1 24 | $51.2M | $13.5M |
| Q4 25 | — | $771.2M | ||
| Q3 25 | $19.4M | $720.9M | ||
| Q2 25 | $19.4M | $815.6M | ||
| Q1 25 | $19.4M | $831.5M | ||
| Q4 24 | $19.3M | $799.3M | ||
| Q3 24 | $32.1M | $815.5M | ||
| Q2 24 | $31.8M | $861.0M | ||
| Q1 24 | $31.3M | $843.3M |
| Q4 25 | $35.5M | $388.0M | ||
| Q3 25 | $-4.5M | $375.4M | ||
| Q2 25 | $-7.5M | $348.2M | ||
| Q1 25 | $-5.9M | $343.7M | ||
| Q4 24 | $-5.9M | $336.5M | ||
| Q3 24 | $-5.2M | $335.8M | ||
| Q2 24 | $-1.4M | $327.5M | ||
| Q1 24 | $3.0M | $327.1M |
| Q4 25 | $70.6M | $5.3B | ||
| Q3 25 | $49.3M | $5.3B | ||
| Q2 25 | $44.9M | $5.4B | ||
| Q1 25 | $46.4M | $5.4B | ||
| Q4 24 | $44.9M | $5.4B | ||
| Q3 24 | $58.9M | $5.7B | ||
| Q2 24 | $63.2M | $6.6B | ||
| Q1 24 | $69.2M | $7.1B |
| Q4 25 | — | 1.99× | ||
| Q3 25 | — | 1.92× | ||
| Q2 25 | — | 2.34× | ||
| Q1 25 | — | 2.42× | ||
| Q4 24 | — | 2.38× | ||
| Q3 24 | — | 2.43× | ||
| Q2 24 | — | 2.63× | ||
| Q1 24 | 10.40× | 2.58× |
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 | $-4.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | -0.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $-4.5M | ||
| Q3 25 | $1.5M | $8.1M | ||
| Q2 25 | $-3.7M | $3.3M | ||
| Q1 25 | $-4.3M | $16.0M | ||
| Q4 24 | $-1.5M | $4.4M | ||
| Q3 24 | $-2.2M | $14.7M | ||
| Q2 24 | $-8.4M | $-7.5M | ||
| Q1 24 | $39.0M | $17.7M |
| Q4 25 | — | -0.19× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.62× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.63× | ||
| Q2 24 | — | -0.62× | ||
| Q1 24 | 3.04× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
