vs
Side-by-side financial comparison of FENNEC PHARMACEUTICALS INC. (FENC) and REED'S, INC. (REED). Click either name above to swap in a different company.
FENNEC PHARMACEUTICALS INC. is the larger business by last-quarter revenue ($13.8M vs $7.5M, roughly 1.8× REED'S, INC.). FENNEC PHARMACEUTICALS INC. runs the higher net margin — -34.7% vs -50.5%, a 15.8% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs -23.1%). Over the past eight quarters, REED'S, INC.'s revenue compounded faster (-11.7% 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.
Waddell & Reed Financial, Inc. was an American asset management and financial planning company founded in 1937 in Kansas City, Missouri. It was a publicly traded company from 1998 to 2021, and briefly had its headquarters in Overland Park, Kansas, and was planning a move back to Downtown Kansas City before the company was sold. It operated asset management and distribution subsidiaries, including Ivy Investment Management Company and Waddell & Reed Investment Management Company.
FENC vs REED — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.8M | $7.5M |
| Net Profit | $-4.8M | $-3.8M |
| Gross Margin | — | 20.4% |
| Operating Margin | -18.5% | -46.9% |
| Net Margin | -34.7% | -50.5% |
| Revenue YoY | 73.8% | -23.1% |
| Net Profit YoY | -141.1% | 8.2% |
| EPS (diluted) | $-0.17 | $-1.26 |
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 | $7.5M | ||
| Q3 25 | $12.5M | $7.0M | ||
| Q2 25 | $9.7M | $9.5M | ||
| Q1 25 | $8.8M | $10.0M | ||
| Q4 24 | $7.9M | $9.7M | ||
| Q3 24 | $7.0M | $6.8M | ||
| Q2 24 | $7.3M | $11.9M | ||
| Q1 24 | $25.4M | $9.6M |
| Q4 25 | $-4.8M | $-3.8M | ||
| Q3 25 | $-638.0K | $-4.0M | ||
| Q2 25 | $-3.2M | $-6.0M | ||
| Q1 25 | $-1.2M | $-2.0M | ||
| Q4 24 | $-2.0M | $-4.1M | ||
| Q3 24 | $-5.7M | $-4.2M | ||
| Q2 24 | $-5.6M | $-3.2M | ||
| Q1 24 | $12.8M | $-1.7M |
| Q4 25 | — | 20.4% | ||
| Q3 25 | — | 17.4% | ||
| Q2 25 | — | 8.5% | ||
| Q1 25 | — | 33.9% | ||
| Q4 24 | — | 30.0% | ||
| Q3 24 | — | 18.0% | ||
| Q2 24 | — | 32.3% | ||
| Q1 24 | — | 35.6% |
| Q4 25 | -18.5% | -46.9% | ||
| Q3 25 | -1.5% | -58.3% | ||
| Q2 25 | -28.3% | -60.8% | ||
| Q1 25 | -9.2% | -17.4% | ||
| Q4 24 | -11.8% | -37.6% | ||
| Q3 24 | -74.6% | -46.5% | ||
| Q2 24 | -69.4% | -5.6% | ||
| Q1 24 | 54.2% | -6.8% |
| Q4 25 | -34.7% | -50.5% | ||
| Q3 25 | -5.1% | -56.6% | ||
| Q2 25 | -32.7% | -63.5% | ||
| Q1 25 | -13.3% | -20.3% | ||
| Q4 24 | -25.0% | -42.3% | ||
| Q3 24 | -82.2% | -61.5% | ||
| Q2 24 | -76.5% | -27.1% | ||
| Q1 24 | 50.6% | -17.4% |
| Q4 25 | $-0.17 | $-1.26 | ||
| Q3 25 | $-0.02 | $-0.48 | ||
| Q2 25 | $-0.11 | $-0.13 | ||
| Q1 25 | $-0.04 | $-0.04 | ||
| Q4 24 | $-0.02 | $-3.73 | ||
| Q3 24 | $-0.21 | $-4.91 | ||
| Q2 24 | $-0.20 | $-0.77 | ||
| Q1 24 | $0.41 | $-0.40 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $35.5M | $9.2M |
| Total Assets | $70.6M | $23.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.8M | — | ||
| Q3 25 | $21.9M | — | ||
| Q2 25 | $18.7M | — | ||
| Q1 25 | $22.7M | — | ||
| Q4 24 | $26.6M | — | ||
| Q3 24 | $40.3M | — | ||
| Q2 24 | $43.1M | — | ||
| Q1 24 | $51.2M | — |
| 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 | $9.2M | ||
| Q3 25 | $-4.5M | $2.8M | ||
| Q2 25 | $-7.5M | $1.7M | ||
| Q1 25 | $-5.9M | $4.7M | ||
| Q4 24 | $-5.9M | $6.6M | ||
| Q3 24 | $-5.2M | $-22.0M | ||
| Q2 24 | $-1.4M | $-23.8M | ||
| Q1 24 | $3.0M | $-20.7M |
| Q4 25 | $70.6M | $23.3M | ||
| Q3 25 | $49.3M | $19.9M | ||
| Q2 25 | $44.9M | $23.7M | ||
| Q1 25 | $46.4M | $24.5M | ||
| Q4 24 | $44.9M | $25.1M | ||
| Q3 24 | $58.9M | $15.0M | ||
| Q2 24 | $63.2M | $18.7M | ||
| Q1 24 | $69.2M | $19.3M |
| 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 | $-3.8M |
| Free Cash FlowOCF − Capex | — | $-3.9M |
| FCF MarginFCF / Revenue | — | -52.0% |
| Capex IntensityCapex / Revenue | — | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-17.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $-3.8M | ||
| Q3 25 | $1.5M | $-2.8M | ||
| Q2 25 | $-3.7M | $-5.0M | ||
| Q1 25 | $-4.3M | $-5.4M | ||
| Q4 24 | $-1.5M | $-3.9M | ||
| Q3 24 | $-2.2M | $1.1M | ||
| Q2 24 | $-8.4M | $-912.0K | ||
| Q1 24 | $39.0M | $-2.4M |
| Q4 25 | — | $-3.9M | ||
| Q3 25 | — | $-2.9M | ||
| Q2 25 | — | $-5.1M | ||
| Q1 25 | — | $-5.4M | ||
| Q4 24 | — | $-4.0M | ||
| Q3 24 | — | $1.0M | ||
| Q2 24 | — | $-924.0K | ||
| Q1 24 | — | $-2.4M |
| Q4 25 | — | -52.0% | ||
| Q3 25 | — | -41.5% | ||
| Q2 25 | — | -53.2% | ||
| Q1 25 | — | -54.2% | ||
| Q4 24 | — | -40.8% | ||
| Q3 24 | — | 15.3% | ||
| Q2 24 | — | -7.8% | ||
| Q1 24 | — | -25.1% |
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | 0.2% |
| 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.
