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Side-by-side financial comparison of Foghorn Therapeutics Inc. (FHTX) and MAXCYTE, INC. (MXCT). Click either name above to swap in a different company.
Foghorn Therapeutics Inc. is the larger business by last-quarter revenue ($9.2M vs $4.8M, roughly 1.9× MAXCYTE, INC.). MAXCYTE, INC. runs the higher net margin — -200.5% vs -234.3%, a 33.8% gap on every dollar of revenue. On growth, Foghorn Therapeutics Inc. posted the faster year-over-year revenue change (223.8% vs -20.9%). Over the past eight quarters, Foghorn Therapeutics Inc.'s revenue compounded faster (35.3% CAGR vs -7.4%).
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.
MaxCyte Inc. is a global biotechnology company focused on developing cell engineering platforms and enabling technologies for cell and gene therapy advancement. Its proprietary non-viral cell modification systems are widely used by pharmaceutical, biotech and life science research entities to develop immunotherapies, gene-edited treatments and next-generation biologic drugs from preclinical research through commercialization.
FHTX vs MXCT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.2M | $4.8M |
| Net Profit | $-21.7M | $-9.6M |
| Gross Margin | — | — |
| Operating Margin | -258.2% | -234.5% |
| Net Margin | -234.3% | -200.5% |
| Revenue YoY | 223.8% | -20.9% |
| Net Profit YoY | -11.1% | 9.4% |
| EPS (diluted) | $-0.35 | — |
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 | $4.8M | ||
| Q3 25 | $8.2M | $4.6M | ||
| Q2 25 | $7.6M | $5.8M | ||
| Q1 25 | $6.0M | $5.7M | ||
| Q4 24 | $2.9M | $6.1M | ||
| Q3 24 | $7.8M | $5.6M | ||
| Q2 24 | $6.9M | $5.0M | ||
| Q1 24 | $5.0M | $5.6M |
| Q4 25 | $-21.7M | $-9.6M | ||
| Q3 25 | $-15.8M | $-12.4M | ||
| Q2 25 | $-17.9M | $-12.4M | ||
| Q1 25 | $-18.8M | $-10.3M | ||
| Q4 24 | $-19.5M | $-10.6M | ||
| Q3 24 | $-19.1M | $-11.6M | ||
| Q2 24 | $-23.0M | $-9.4M | ||
| Q1 24 | $-25.0M | $-9.5M |
| Q4 25 | -258.2% | -234.5% | ||
| Q3 25 | -226.9% | -307.4% | ||
| Q2 25 | -279.2% | -244.3% | ||
| Q1 25 | -385.0% | -214.1% | ||
| Q4 24 | -840.5% | -213.1% | ||
| Q3 24 | -305.5% | -250.4% | ||
| Q2 24 | -386.6% | -241.0% | ||
| Q1 24 | -558.3% | -219.8% |
| Q4 25 | -234.3% | -200.5% | ||
| Q3 25 | -194.4% | -269.7% | ||
| Q2 25 | -237.3% | -212.2% | ||
| Q1 25 | -316.4% | -178.7% | ||
| Q4 24 | -682.9% | -175.0% | ||
| Q3 24 | -244.9% | -205.9% | ||
| Q2 24 | -333.6% | -188.8% | ||
| Q1 24 | -495.4% | -170.6% |
| Q4 25 | $-0.35 | — | ||
| Q3 25 | $-0.25 | $-0.12 | ||
| Q2 25 | $-0.28 | $-0.12 | ||
| Q1 25 | $-0.30 | — | ||
| Q4 24 | $-0.23 | — | ||
| Q3 24 | $-0.31 | $-0.11 | ||
| Q2 24 | $-0.45 | $-0.09 | ||
| 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 | $103.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-108.5M | $171.5M |
| Total Assets | $198.1M | $202.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.9M | $103.0M | ||
| Q3 25 | $89.3M | $105.7M | ||
| Q2 25 | $72.6M | $126.6M | ||
| Q1 25 | $61.0M | $138.3M | ||
| Q4 24 | $55.5M | $154.5M | ||
| Q3 24 | $57.7M | $153.8M | ||
| Q2 24 | $138.9M | $157.3M | ||
| Q1 24 | $79.3M | $157.5M |
| Q4 25 | $-108.5M | $171.5M | ||
| Q3 25 | $-89.7M | $180.3M | ||
| Q2 25 | $-76.7M | $190.7M | ||
| Q1 25 | $-61.7M | $199.4M | ||
| Q4 24 | $-45.5M | $206.3M | ||
| Q3 24 | $-28.3M | $213.3M | ||
| Q2 24 | $-14.3M | $221.3M | ||
| Q1 24 | $-97.5M | $226.4M |
| Q4 25 | $198.1M | $202.5M | ||
| Q3 25 | $205.0M | $213.5M | ||
| Q2 25 | $226.2M | $219.8M | ||
| Q1 25 | $258.7M | $230.0M | ||
| Q4 24 | $284.0M | $239.5M | ||
| Q3 24 | $308.4M | $248.6M | ||
| Q2 24 | $328.6M | $251.5M | ||
| Q1 24 | $255.0M | $257.9M |
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 | $-2.7M |
| Free Cash FlowOCF − Capex | — | $-2.9M |
| FCF MarginFCF / Revenue | — | -61.0% |
| Capex IntensityCapex / Revenue | 0.0% | 4.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-36.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-22.3M | $-2.7M | ||
| Q3 25 | $-18.9M | $-7.5M | ||
| Q2 25 | $-21.0M | $-9.9M | ||
| Q1 25 | $-24.0M | $-14.4M | ||
| Q4 24 | $-24.5M | $-7.8M | ||
| Q3 24 | $-21.0M | $-4.4M | ||
| Q2 24 | $-25.5M | $-4.8M | ||
| Q1 24 | $-29.3M | $-10.6M |
| Q4 25 | — | $-2.9M | ||
| Q3 25 | — | $-7.8M | ||
| Q2 25 | $-21.0M | $-10.4M | ||
| Q1 25 | $-24.0M | $-15.1M | ||
| Q4 24 | $-25.0M | $-8.0M | ||
| Q3 24 | $-21.3M | $-4.8M | ||
| Q2 24 | $-25.6M | $-5.1M | ||
| Q1 24 | $-29.4M | $-11.4M |
| Q4 25 | — | -61.0% | ||
| Q3 25 | — | -168.5% | ||
| Q2 25 | -278.2% | -179.2% | ||
| Q1 25 | -403.2% | -262.3% | ||
| Q4 24 | -875.3% | -131.6% | ||
| Q3 24 | -273.0% | -85.5% | ||
| Q2 24 | -371.0% | -103.3% | ||
| Q1 24 | -583.1% | -203.6% |
| Q4 25 | 0.0% | 4.8% | ||
| Q3 25 | 0.0% | 6.5% | ||
| Q2 25 | 0.3% | 10.0% | ||
| Q1 25 | 0.5% | 11.4% | ||
| Q4 24 | 16.8% | 2.4% | ||
| Q3 24 | 4.0% | 7.2% | ||
| Q2 24 | 0.2% | 5.9% | ||
| Q1 24 | 2.0% | 14.4% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FHTX
Segment breakdown not available.
MXCT
| Products | $4.2M | 87% |
| Other | $634.0K | 13% |
