vs
Side-by-side financial comparison of FENNEC PHARMACEUTICALS INC. (FENC) and NextPlat Corp (NXPL). Click either name above to swap in a different company.
FENNEC PHARMACEUTICALS INC. is the larger business by last-quarter revenue ($13.8M vs $12.8M, roughly 1.1× NextPlat Corp). FENNEC PHARMACEUTICALS INC. runs the higher net margin — -34.7% vs -40.2%, a 5.4% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs -21.1%). Over the past eight quarters, NextPlat Corp's revenue compounded faster (-14.4% 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.
FENC vs NXPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.8M | $12.8M |
| Net Profit | $-4.8M | $-5.1M |
| Gross Margin | — | 14.3% |
| Operating Margin | -18.5% | -28.9% |
| Net Margin | -34.7% | -40.2% |
| Revenue YoY | 73.8% | -21.1% |
| Net Profit YoY | -141.1% | -70.6% |
| 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 | $12.8M | ||
| Q3 25 | $12.5M | $13.8M | ||
| Q2 25 | $9.7M | $13.2M | ||
| Q1 25 | $8.8M | $14.5M | ||
| Q4 24 | $7.9M | $16.2M | ||
| Q3 24 | $7.0M | $15.4M | ||
| Q2 24 | $7.3M | $17.0M | ||
| Q1 24 | $25.4M | $17.5M |
| Q4 25 | $-4.8M | $-5.1M | ||
| Q3 25 | $-638.0K | $-2.2M | ||
| Q2 25 | $-3.2M | $-1.8M | ||
| Q1 25 | $-1.2M | $-1.3M | ||
| Q4 24 | $-2.0M | $-3.0M | ||
| Q3 24 | $-5.7M | $-4.2M | ||
| Q2 24 | $-5.6M | $-5.3M | ||
| Q1 24 | $12.8M | $-1.5M |
| Q4 25 | — | 14.3% | ||
| Q3 25 | — | 19.9% | ||
| Q2 25 | — | 21.8% | ||
| Q1 25 | — | 23.8% | ||
| Q4 24 | — | 16.8% | ||
| Q3 24 | — | 23.2% | ||
| Q2 24 | — | 34.5% | ||
| Q1 24 | — | 27.8% |
| Q4 25 | -18.5% | -28.9% | ||
| Q3 25 | -1.5% | -14.5% | ||
| Q2 25 | -28.3% | -13.8% | ||
| Q1 25 | -9.2% | -10.2% | ||
| Q4 24 | -11.8% | -14.1% | ||
| Q3 24 | -74.6% | -52.1% | ||
| Q2 24 | -69.4% | -64.1% | ||
| Q1 24 | 54.2% | -10.5% |
| Q4 25 | -34.7% | -40.2% | ||
| Q3 25 | -5.1% | -15.9% | ||
| Q2 25 | -32.7% | -13.5% | ||
| Q1 25 | -13.3% | -9.2% | ||
| Q4 24 | -25.0% | -18.6% | ||
| Q3 24 | -82.2% | -27.4% | ||
| Q2 24 | -76.5% | -31.3% | ||
| Q1 24 | 50.6% | -8.5% |
| Q4 25 | $-0.17 | — | ||
| Q3 25 | $-0.02 | — | ||
| Q2 25 | $-0.11 | — | ||
| Q1 25 | $-0.04 | $-0.05 | ||
| Q4 24 | $-0.02 | — | ||
| Q3 24 | $-0.21 | $-0.22 | ||
| Q2 24 | $-0.20 | — | ||
| Q1 24 | $0.41 | $-0.08 |
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 | $13.7M |
| Total DebtLower is stronger | — | $1.3M |
| Stockholders' EquityBook value | $35.5M | $17.3M |
| Total Assets | $70.6M | $27.5M |
| Debt / EquityLower = less leverage | — | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.8M | $13.7M | ||
| Q3 25 | $21.9M | $13.9M | ||
| Q2 25 | $18.7M | $16.6M | ||
| Q1 25 | $22.7M | $17.7M | ||
| Q4 24 | $26.6M | $20.0M | ||
| Q3 24 | $40.3M | $20.4M | ||
| Q2 24 | $43.1M | $24.9M | ||
| Q1 24 | $51.2M | $23.5M |
| Q4 25 | — | $1.3M | ||
| Q3 25 | $19.4M | $1.2M | ||
| Q2 25 | $19.4M | $1.2M | ||
| Q1 25 | $19.4M | $1.3M | ||
| Q4 24 | $19.3M | $1.4M | ||
| Q3 24 | $32.1M | $1.5M | ||
| Q2 24 | $31.8M | $1.3M | ||
| Q1 24 | $31.3M | $1.4M |
| Q4 25 | $35.5M | $17.3M | ||
| Q3 25 | $-4.5M | $21.4M | ||
| Q2 25 | $-7.5M | $23.5M | ||
| Q1 25 | $-5.9M | $25.3M | ||
| Q4 24 | $-5.9M | $27.3M | ||
| Q3 24 | $-5.2M | $22.5M | ||
| Q2 24 | $-1.4M | $26.5M | ||
| Q1 24 | $3.0M | $31.2M |
| Q4 25 | $70.6M | $27.5M | ||
| Q3 25 | $49.3M | $30.0M | ||
| Q2 25 | $44.9M | $31.0M | ||
| Q1 25 | $46.4M | $35.2M | ||
| Q4 24 | $44.9M | $37.1M | ||
| Q3 24 | $58.9M | $41.1M | ||
| Q2 24 | $63.2M | $51.5M | ||
| Q1 24 | $69.2M | $65.1M |
| Q4 25 | — | 0.07× | ||
| Q3 25 | — | 0.05× | ||
| Q2 25 | — | 0.05× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | 0.05× | ||
| Q3 24 | — | 0.07× | ||
| Q2 24 | — | 0.05× | ||
| Q1 24 | 10.40× | 0.04× |
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 | $-302.0K |
| Free Cash FlowOCF − Capex | — | $-339.0K |
| FCF MarginFCF / Revenue | — | -2.6% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $-302.0K | ||
| Q3 25 | $1.5M | $-2.7M | ||
| Q2 25 | $-3.7M | $-1.0M | ||
| Q1 25 | $-4.3M | $-2.1M | ||
| Q4 24 | $-1.5M | $-476.0K | ||
| Q3 24 | $-2.2M | $-4.6M | ||
| Q2 24 | $-8.4M | $2.3M | ||
| Q1 24 | $39.0M | $-2.7M |
| Q4 25 | — | $-339.0K | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-1.1M | ||
| Q1 25 | — | $-2.1M | ||
| Q4 24 | — | $-508.0K | ||
| Q3 24 | — | $-4.7M | ||
| Q2 24 | — | $2.2M | ||
| Q1 24 | — | $-2.7M |
| Q4 25 | — | -2.6% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -8.0% | ||
| Q1 25 | — | -14.3% | ||
| Q4 24 | — | -3.1% | ||
| Q3 24 | — | -30.6% | ||
| Q2 24 | — | 13.2% | ||
| Q1 24 | — | -15.7% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.6% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.4% |
| 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.
NXPL
| Healthcare Operations | $9.0M | 70% |
| Ecommerce Revenue | $3.8M | 30% |
