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Side-by-side financial comparison of Foghorn Therapeutics Inc. (FHTX) and EVERSPIN TECHNOLOGIES INC. (MRAM). Click either name above to swap in a different company.
EVERSPIN TECHNOLOGIES INC. is the larger business by last-quarter revenue ($14.9M vs $9.2M, roughly 1.6× Foghorn Therapeutics Inc.). EVERSPIN TECHNOLOGIES INC. runs the higher net margin — -2.0% vs -234.3%, a 232.3% gap on every dollar of revenue. On growth, Foghorn Therapeutics Inc. posted the faster year-over-year revenue change (223.8% vs 13.2%). Over the past eight quarters, Foghorn Therapeutics Inc.'s revenue compounded faster (35.3% CAGR vs 18.2%).
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.
Everspin Technologies, Inc. is a publicly traded semiconductor company headquartered in Chandler, Arizona, United States. It develops and manufactures discrete magnetoresistive RAM or magnetoresistive random-access memory (MRAM) products, including Toggle MRAM and Spin-Transfer Torque MRAM (STT-MRAM) product families. It also licenses its technology for use in embedded MRAM (eMRAM) applications, magnetic sensor applications as well as performs backend foundry services for eMRAM.
FHTX vs MRAM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $9.2M | $14.9M |
| Net Profit | $-21.7M | $-296.0K |
| Gross Margin | — | 52.7% |
| Operating Margin | -258.2% | 29.0% |
| Net Margin | -234.3% | -2.0% |
| Revenue YoY | 223.8% | 13.2% |
| Net Profit YoY | -11.1% | — |
| EPS (diluted) | $-0.35 | $-0.01 |
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 | — | $14.9M | ||
| Q4 25 | $9.2M | $14.8M | ||
| Q3 25 | $8.2M | $14.1M | ||
| Q2 25 | $7.6M | $13.2M | ||
| Q1 25 | $6.0M | $13.1M | ||
| Q4 24 | $2.9M | $13.2M | ||
| Q3 24 | $7.8M | $12.1M | ||
| Q2 24 | $6.9M | $10.6M |
| Q1 26 | — | $-296.0K | ||
| Q4 25 | $-21.7M | $1.2M | ||
| Q3 25 | $-15.8M | $54.0K | ||
| Q2 25 | $-17.9M | $-670.0K | ||
| Q1 25 | $-18.8M | $-1.2M | ||
| Q4 24 | $-19.5M | $1.2M | ||
| Q3 24 | $-19.1M | $2.3M | ||
| Q2 24 | $-23.0M | $-2.5M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | — | 50.8% | ||
| Q3 25 | — | 51.3% | ||
| Q2 25 | — | 51.3% | ||
| Q1 25 | — | 51.4% | ||
| Q4 24 | — | 51.3% | ||
| Q3 24 | — | 49.2% | ||
| Q2 24 | — | 49.0% |
| Q1 26 | — | 29.0% | ||
| Q4 25 | -258.2% | -7.2% | ||
| Q3 25 | -226.9% | -11.0% | ||
| Q2 25 | -279.2% | -14.9% | ||
| Q1 25 | -385.0% | -14.7% | ||
| Q4 24 | -840.5% | -11.8% | ||
| Q3 24 | -305.5% | -17.5% | ||
| Q2 24 | -386.6% | -26.5% |
| Q1 26 | — | -2.0% | ||
| Q4 25 | -234.3% | 8.1% | ||
| Q3 25 | -194.4% | 0.4% | ||
| Q2 25 | -237.3% | -5.1% | ||
| Q1 25 | -316.4% | -8.9% | ||
| Q4 24 | -682.9% | 9.2% | ||
| Q3 24 | -244.9% | 18.8% | ||
| Q2 24 | -333.6% | -23.5% |
| Q1 26 | — | $-0.01 | ||
| Q4 25 | $-0.35 | $0.05 | ||
| Q3 25 | $-0.25 | $0.00 | ||
| Q2 25 | $-0.28 | $-0.03 | ||
| Q1 25 | $-0.30 | $-0.05 | ||
| Q4 24 | $-0.23 | $0.07 | ||
| Q3 24 | $-0.31 | $0.10 | ||
| Q2 24 | $-0.45 | $-0.12 |
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 | $40.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-108.5M | $70.2M |
| Total Assets | $198.1M | $83.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $40.5M | ||
| Q4 25 | $80.9M | $44.5M | ||
| Q3 25 | $89.3M | $45.3M | ||
| Q2 25 | $72.6M | $45.0M | ||
| Q1 25 | $61.0M | $42.2M | ||
| Q4 24 | $55.5M | $42.1M | ||
| Q3 24 | $57.7M | $39.6M | ||
| Q2 24 | $138.9M | $36.8M |
| Q1 26 | — | $70.2M | ||
| Q4 25 | $-108.5M | $68.9M | ||
| Q3 25 | $-89.7M | $65.8M | ||
| Q2 25 | $-76.7M | $64.1M | ||
| Q1 25 | $-61.7M | $63.0M | ||
| Q4 24 | $-45.5M | $62.6M | ||
| Q3 24 | $-28.3M | $59.3M | ||
| Q2 24 | $-14.3M | $55.4M |
| Q1 26 | — | $83.2M | ||
| Q4 25 | $198.1M | $84.6M | ||
| Q3 25 | $205.0M | $80.3M | ||
| Q2 25 | $226.2M | $78.9M | ||
| Q1 25 | $258.7M | $80.2M | ||
| Q4 24 | $284.0M | $77.8M | ||
| Q3 24 | $308.4M | $72.6M | ||
| Q2 24 | $328.6M | $64.6M |
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 | $570.0K |
| 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.
| Q1 26 | — | $570.0K | ||
| Q4 25 | $-22.3M | $2.6M | ||
| Q3 25 | $-18.9M | $881.0K | ||
| Q2 25 | $-21.0M | $5.0M | ||
| Q1 25 | $-24.0M | $1.4M | ||
| Q4 24 | $-24.5M | $3.8M | ||
| Q3 24 | $-21.0M | $2.8M | ||
| Q2 24 | $-25.5M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-975.0K | ||
| Q3 25 | — | $543.0K | ||
| Q2 25 | $-21.0M | $3.0M | ||
| Q1 25 | $-24.0M | $527.0K | ||
| Q4 24 | $-25.0M | $2.1M | ||
| Q3 24 | $-21.3M | $2.8M | ||
| Q2 24 | $-25.6M | $1.7M |
| Q1 26 | — | — | ||
| Q4 25 | — | -6.6% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | -278.2% | 22.9% | ||
| Q1 25 | -403.2% | 4.0% | ||
| Q4 24 | -875.3% | 15.8% | ||
| Q3 24 | -273.0% | 22.9% | ||
| Q2 24 | -371.0% | 15.9% |
| Q1 26 | — | — | ||
| Q4 25 | 0.0% | 24.3% | ||
| Q3 25 | 0.0% | 2.4% | ||
| Q2 25 | 0.3% | 15.1% | ||
| Q1 25 | 0.5% | 6.9% | ||
| Q4 24 | 16.8% | 13.2% | ||
| Q3 24 | 4.0% | 0.5% | ||
| Q2 24 | 0.2% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.19× | ||
| Q3 25 | — | 16.31× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.16× | ||
| Q3 24 | — | 1.25× | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FHTX
Segment breakdown not available.
MRAM
| Product sales | $14.1M | 95% |
| Licensing, royalty, patent, engineering services and other revenue | $772.0K | 5% |
