vs
Side-by-side financial comparison of FENNEC PHARMACEUTICALS INC. (FENC) and Velo3D, Inc. (VELO). Click either name above to swap in a different company.
FENNEC PHARMACEUTICALS INC. is the larger business by last-quarter revenue ($13.8M vs $9.4M, roughly 1.5× Velo3D, Inc.). FENNEC PHARMACEUTICALS INC. runs the higher net margin — -34.7% vs -231.9%, a 197.2% gap on every dollar of revenue. On growth, FENNEC PHARMACEUTICALS INC. posted the faster year-over-year revenue change (73.8% vs -25.2%). Over the past eight quarters, Velo3D, Inc.'s revenue compounded faster (-1.8% 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.
Velo3D, Inc. develops and sells advanced end-to-end metal additive manufacturing (3D printing) solutions, comprising industrial-grade printers, specialized processing software, and high-performance metal materials. It primarily serves global aerospace, defense, energy, semiconductor and industrial manufacturing markets, enabling customers to produce complex, high-precision metal parts that are difficult to manufacture with traditional methods.
FENC vs VELO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.8M | $9.4M |
| Net Profit | $-4.8M | $-21.9M |
| Gross Margin | — | -73.6% |
| Operating Margin | -18.5% | -231.0% |
| Net Margin | -34.7% | -231.9% |
| Revenue YoY | 73.8% | -25.2% |
| Net Profit YoY | -141.1% | -2.9% |
| EPS (diluted) | $-0.17 | $-0.87 |
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 | $9.4M | ||
| Q3 25 | $12.5M | $13.6M | ||
| Q2 25 | $9.7M | $13.6M | ||
| Q1 25 | $8.8M | $9.3M | ||
| Q4 24 | $7.9M | $12.6M | ||
| Q3 24 | $7.0M | $8.2M | ||
| Q2 24 | $7.3M | $10.3M | ||
| Q1 24 | $25.4M | $9.8M |
| Q4 25 | $-4.8M | $-21.9M | ||
| Q3 25 | $-638.0K | $-11.2M | ||
| Q2 25 | $-3.2M | $-13.3M | ||
| Q1 25 | $-1.2M | $-25.0M | ||
| Q4 24 | $-2.0M | $-21.3M | ||
| Q3 24 | $-5.7M | $-21.9M | ||
| Q2 24 | $-5.6M | $935.0K | ||
| Q1 24 | $12.8M | $-27.5M |
| Q4 25 | — | -73.6% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | -11.7% | ||
| Q1 25 | — | 7.5% | ||
| Q4 24 | — | -3.5% | ||
| Q3 24 | — | 49.4% | ||
| Q2 24 | — | -28.0% | ||
| Q1 24 | — | -28.8% |
| Q4 25 | -18.5% | -231.0% | ||
| Q3 25 | -1.5% | -73.3% | ||
| Q2 25 | -28.3% | -85.4% | ||
| Q1 25 | -9.2% | -123.6% | ||
| Q4 24 | -11.8% | -167.0% | ||
| Q3 24 | -74.6% | -213.8% | ||
| Q2 24 | -69.4% | -187.7% | ||
| Q1 24 | 54.2% | -211.1% |
| Q4 25 | -34.7% | -231.9% | ||
| Q3 25 | -5.1% | -82.0% | ||
| Q2 25 | -32.7% | -97.7% | ||
| Q1 25 | -13.3% | -268.4% | ||
| Q4 24 | -25.0% | -168.5% | ||
| Q3 24 | -82.2% | -265.3% | ||
| Q2 24 | -76.5% | 9.0% | ||
| Q1 24 | 50.6% | -281.2% |
| Q4 25 | $-0.17 | $-0.87 | ||
| Q3 25 | $-0.02 | $-0.65 | ||
| Q2 25 | $-0.11 | $-0.94 | ||
| Q1 25 | $-0.04 | $-1.87 | ||
| Q4 24 | $-0.02 | $7.06 | ||
| Q3 24 | $-0.21 | $-35.52 | ||
| Q2 24 | $-0.20 | $1.65 | ||
| Q1 24 | $0.41 | $-55.51 |
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 | $39.0M |
| Total DebtLower is stronger | — | $31.0M |
| Stockholders' EquityBook value | $35.5M | $38.2M |
| Total Assets | $70.6M | $105.3M |
| Debt / EquityLower = less leverage | — | 0.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.8M | $39.0M | ||
| Q3 25 | $21.9M | $11.8M | ||
| Q2 25 | $18.7M | $854.0K | ||
| Q1 25 | $22.7M | $3.9M | ||
| Q4 24 | $26.6M | $1.2M | ||
| Q3 24 | $40.3M | $1.6M | ||
| Q2 24 | $43.1M | $3.2M | ||
| Q1 24 | $51.2M | $10.9M |
| Q4 25 | — | $31.0M | ||
| Q3 25 | $19.4M | $23.0M | ||
| Q2 25 | $19.4M | $22.5M | ||
| Q1 25 | $19.4M | $21.7M | ||
| Q4 24 | $19.3M | $5.7M | ||
| Q3 24 | $32.1M | $32.3M | ||
| Q2 24 | $31.8M | $33.5M | ||
| Q1 24 | $31.3M | $44.0M |
| Q4 25 | $35.5M | $38.2M | ||
| Q3 25 | $-4.5M | $29.9M | ||
| Q2 25 | $-7.5M | $21.4M | ||
| Q1 25 | $-5.9M | $32.8M | ||
| Q4 24 | $-5.9M | $39.7M | ||
| Q3 24 | $-5.2M | $34.4M | ||
| Q2 24 | $-1.4M | $52.1M | ||
| Q1 24 | $3.0M | $45.5M |
| Q4 25 | $70.6M | $105.3M | ||
| Q3 25 | $49.3M | $93.7M | ||
| Q2 25 | $44.9M | $78.4M | ||
| Q1 25 | $46.4M | $91.3M | ||
| Q4 24 | $44.9M | $89.2M | ||
| Q3 24 | $58.9M | $110.8M | ||
| Q2 24 | $63.2M | $116.7M | ||
| Q1 24 | $69.2M | $136.1M |
| Q4 25 | — | 0.81× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | 10.40× | 0.97× |
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 | $-7.7M |
| Free Cash FlowOCF − Capex | — | $-8.3M |
| FCF MarginFCF / Revenue | — | -88.3% |
| Capex IntensityCapex / Revenue | — | 6.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-6.0M | $-7.7M | ||
| Q3 25 | $1.5M | $-6.0M | ||
| Q2 25 | $-3.7M | $-1.2M | ||
| Q1 25 | $-4.3M | $-12.3M | ||
| Q4 24 | $-1.5M | $-2.2M | ||
| Q3 24 | $-2.2M | $-2.0M | ||
| Q2 24 | $-8.4M | $-8.0M | ||
| Q1 24 | $39.0M | $-20.5M |
| Q4 25 | — | $-8.3M | ||
| Q3 25 | — | $-6.3M | ||
| Q2 25 | — | $-3.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-2.2M | ||
| Q3 24 | — | $-2.0M | ||
| Q2 24 | — | $-8.0M | ||
| Q1 24 | — | $-20.5M |
| Q4 25 | — | -88.3% | ||
| Q3 25 | — | -46.5% | ||
| Q2 25 | — | -22.2% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -17.7% | ||
| Q3 24 | — | -24.2% | ||
| Q2 24 | — | -77.1% | ||
| Q1 24 | — | -209.8% |
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | 13.3% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -8.52× | ||
| Q1 24 | 3.04× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
