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Side-by-side financial comparison of FENNEC PHARMACEUTICALS INC. (FENC) and VersaBank (VBNK). Click either name above to swap in a different company.
VersaBank is the larger business by last-quarter revenue ($26.7M vs $13.8M, roughly 1.9× FENNEC PHARMACEUTICALS INC.). VersaBank runs the higher net margin — 30.3% vs -34.7%, a 65.1% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs 31.2%). Over the past eight quarters, VersaBank's revenue compounded faster (16.6% 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.
VersaBank is a Canada-based digital-first financial institution offering commercial lending, high-interest deposit accounts and customized financial services for SMEs, retail clients and institutional partners across North America. It operates no physical branches, using secure digital infrastructure to deliver efficient, cost-effective banking experiences.
FENC vs VBNK — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $13.8M | $26.7M |
| Net Profit | $-4.8M | $8.1M |
| Gross Margin | — | — |
| Operating Margin | -18.5% | — |
| Net Margin | -34.7% | 30.3% |
| Revenue YoY | 73.8% | 31.2% |
| Net Profit YoY | -141.1% | 35.9% |
| 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.
| Q1 26 | — | $26.7M | ||
| Q4 25 | $13.8M | — | ||
| Q3 25 | $12.5M | $23.1M | ||
| Q2 25 | $9.7M | $22.0M | ||
| Q1 25 | $8.8M | $20.3M | ||
| Q4 24 | $7.9M | — | ||
| Q3 24 | $7.0M | $19.7M | ||
| Q2 24 | $7.3M | $20.8M |
| Q1 26 | — | $8.1M | ||
| Q4 25 | $-4.8M | — | ||
| Q3 25 | $-638.0K | $4.8M | ||
| Q2 25 | $-3.2M | $6.2M | ||
| Q1 25 | $-1.2M | $5.9M | ||
| Q4 24 | $-2.0M | — | ||
| Q3 24 | $-5.7M | $7.1M | ||
| Q2 24 | $-5.6M | $8.6M |
| Q1 26 | — | — | ||
| 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 26 | — | 30.3% | ||
| Q4 25 | -34.7% | — | ||
| Q3 25 | -5.1% | 20.8% | ||
| Q2 25 | -32.7% | 28.3% | ||
| Q1 25 | -13.3% | 29.3% | ||
| Q4 24 | -25.0% | — | ||
| Q3 24 | -82.2% | 35.9% | ||
| Q2 24 | -76.5% | 41.5% |
| Q1 26 | — | — | ||
| 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 | — |
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 | $458.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $35.5M | $396.4M |
| Total Assets | $70.6M | $4.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $458.4M | ||
| Q4 25 | $36.8M | — | ||
| Q3 25 | $21.9M | $336.0M | ||
| Q2 25 | $18.7M | $248.3M | ||
| Q1 25 | $22.7M | $282.3M | ||
| Q4 24 | $26.6M | — | ||
| Q3 24 | $40.3M | $181.0M | ||
| Q2 24 | $43.1M | $145.1M |
| Q1 26 | — | — | ||
| 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 26 | — | $396.4M | ||
| Q4 25 | $35.5M | — | ||
| Q3 25 | $-4.5M | $385.5M | ||
| Q2 25 | $-7.5M | $385.7M | ||
| Q1 25 | $-5.9M | $380.5M | ||
| Q4 24 | $-5.9M | — | ||
| Q3 24 | $-5.2M | $298.6M | ||
| Q2 24 | $-1.4M | $292.1M |
| Q1 26 | — | $4.5B | ||
| Q4 25 | $70.6M | — | ||
| Q3 25 | $49.3M | $4.0B | ||
| Q2 25 | $44.9M | $3.7B | ||
| Q1 25 | $46.4M | $3.6B | ||
| Q4 24 | $44.9M | — | ||
| Q3 24 | $58.9M | $3.3B | ||
| Q2 24 | $63.2M | $3.2B |
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 | $40.6M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 5.03× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.6M | ||
| Q4 25 | $-6.0M | — | ||
| Q3 25 | $1.5M | — | ||
| Q2 25 | $-3.7M | — | ||
| Q1 25 | $-4.3M | $-65.0M | ||
| Q4 24 | $-1.5M | — | ||
| Q3 24 | $-2.2M | — | ||
| Q2 24 | $-8.4M | — |
| Q1 26 | — | 5.03× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -10.94× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
