vs
Side-by-side financial comparison of Foghorn Therapeutics Inc. (FHTX) and Metalpha Technology Holding Ltd (MATH). Click either name above to swap in a different company.
Metalpha Technology Holding Ltd is the larger business by last-quarter revenue ($12.0M vs $9.2M, roughly 1.3× Foghorn Therapeutics Inc.). Metalpha Technology Holding Ltd runs the higher net margin — -24.0% vs -234.3%, a 210.3% gap on every dollar of revenue. On growth, Foghorn Therapeutics Inc. posted the faster year-over-year revenue change (223.8% vs -39.0%).
Foghorn Therapeutics Inc. is a clinical-stage biotechnology company dedicated to developing novel therapies targeting the chromatin regulatory system to treat various types of cancer and other severe diseases. It advances a diverse pipeline of targeted drug candidates, conducting internal R&D and strategic partnerships to serve global patient populations.
Metalpha Technology Holding LtdMATHEarnings & Financial Report
Metalpha Technology Holding Ltd is a global fintech firm specializing in digital asset wealth management, institutional-grade crypto investment services, and Web3 ecosystem infrastructure support. It serves professional investors, financial institutions, and high-net-worth clients across Asia, North America and Europe, with core segments including structured digital asset products, risk management solutions and DeFi technology development.
FHTX vs MATH — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.2M | $12.0M |
| Net Profit | $-21.7M | $-2.9M |
| Gross Margin | — | 28.3% |
| Operating Margin | -258.2% | -24.2% |
| Net Margin | -234.3% | -24.0% |
| Revenue YoY | 223.8% | -39.0% |
| Net Profit YoY | -11.1% | -147.7% |
| EPS (diluted) | $-0.35 | $-0.07 |
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 | $9.2M | — | ||
| Q3 25 | $8.2M | $12.0M | ||
| Q2 25 | $7.6M | — | ||
| Q1 25 | $6.0M | $24.8M | ||
| Q4 24 | $2.9M | — | ||
| Q3 24 | $7.8M | $19.7M | ||
| Q2 24 | $6.9M | — | ||
| Q1 24 | $5.0M | — |
| Q4 25 | $-21.7M | — | ||
| Q3 25 | $-15.8M | $-2.9M | ||
| Q2 25 | $-17.9M | — | ||
| Q1 25 | $-18.8M | $9.8M | ||
| Q4 24 | $-19.5M | — | ||
| Q3 24 | $-19.1M | $6.0M | ||
| Q2 24 | $-23.0M | — | ||
| Q1 24 | $-25.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 28.3% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 85.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 49.5% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -258.2% | — | ||
| Q3 25 | -226.9% | -24.2% | ||
| Q2 25 | -279.2% | — | ||
| Q1 25 | -385.0% | 39.3% | ||
| Q4 24 | -840.5% | — | ||
| Q3 24 | -305.5% | 38.9% | ||
| Q2 24 | -386.6% | — | ||
| Q1 24 | -558.3% | — |
| Q4 25 | -234.3% | — | ||
| Q3 25 | -194.4% | -24.0% | ||
| Q2 25 | -237.3% | — | ||
| Q1 25 | -316.4% | 39.6% | ||
| Q4 24 | -682.9% | — | ||
| Q3 24 | -244.9% | 30.7% | ||
| Q2 24 | -333.6% | — | ||
| Q1 24 | -495.4% | — |
| Q4 25 | $-0.35 | — | ||
| Q3 25 | $-0.25 | $-0.07 | ||
| Q2 25 | $-0.28 | — | ||
| Q1 25 | $-0.30 | $0.25 | ||
| Q4 24 | $-0.23 | — | ||
| Q3 24 | $-0.31 | $0.16 | ||
| Q2 24 | $-0.45 | — | ||
| Q1 24 | $-0.59 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $80.9M | $10.1M |
| Total DebtLower is stronger | — | $101.2K |
| Stockholders' EquityBook value | $-108.5M | $35.1M |
| Total Assets | $198.1M | $413.8M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.9M | — | ||
| Q3 25 | $89.3M | $10.1M | ||
| Q2 25 | $72.6M | — | ||
| Q1 25 | $61.0M | $6.9M | ||
| Q4 24 | $55.5M | — | ||
| Q3 24 | $57.7M | $3.8M | ||
| Q2 24 | $138.9M | — | ||
| Q1 24 | $79.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $101.2K | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $188.0K | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $275.1K | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-108.5M | — | ||
| Q3 25 | $-89.7M | $35.1M | ||
| Q2 25 | $-76.7M | — | ||
| Q1 25 | $-61.7M | $36.6M | ||
| Q4 24 | $-45.5M | — | ||
| Q3 24 | $-28.3M | $25.3M | ||
| Q2 24 | $-14.3M | — | ||
| Q1 24 | $-97.5M | — |
| Q4 25 | $198.1M | — | ||
| Q3 25 | $205.0M | $413.8M | ||
| Q2 25 | $226.2M | — | ||
| Q1 25 | $258.7M | $246.8M | ||
| Q4 24 | $284.0M | — | ||
| Q3 24 | $308.4M | $237.2M | ||
| Q2 24 | $328.6M | — | ||
| Q1 24 | $255.0M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.01× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.01× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-22.3M | $3.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-22.3M | — | ||
| Q3 25 | $-18.9M | $3.3M | ||
| Q2 25 | $-21.0M | — | ||
| Q1 25 | $-24.0M | $16.2M | ||
| Q4 24 | $-24.5M | — | ||
| Q3 24 | $-21.0M | $-16.1M | ||
| Q2 24 | $-25.5M | — | ||
| Q1 24 | $-29.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-21.0M | — | ||
| Q1 25 | $-24.0M | — | ||
| Q4 24 | $-25.0M | — | ||
| Q3 24 | $-21.3M | — | ||
| Q2 24 | $-25.6M | — | ||
| Q1 24 | $-29.4M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -278.2% | — | ||
| Q1 25 | -403.2% | — | ||
| Q4 24 | -875.3% | — | ||
| Q3 24 | -273.0% | — | ||
| Q2 24 | -371.0% | — | ||
| Q1 24 | -583.1% | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 0.5% | — | ||
| Q4 24 | 16.8% | — | ||
| Q3 24 | 4.0% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 2.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.64× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -2.66× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
