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Side-by-side financial comparison of Foghorn Therapeutics Inc. (FHTX) and Spire Global, Inc. (SPIR). Click either name above to swap in a different company.
Spire Global, Inc. is the larger business by last-quarter revenue ($15.8M vs $9.2M, roughly 1.7× Foghorn Therapeutics Inc.). Spire Global, Inc. runs the higher net margin — -176.6% vs -234.3%, a 57.6% gap on every dollar of revenue. On growth, Foghorn Therapeutics Inc. posted the faster year-over-year revenue change (223.8% vs -26.9%). Over the past eight quarters, Foghorn Therapeutics Inc.'s revenue compounded faster (35.3% CAGR vs -32.6%).
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.
Spire Global, Inc. is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites, such as the tracking of maritime, aviation and weather patterns.
FHTX vs SPIR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.2M | $15.8M |
| Net Profit | $-21.7M | $-28.0M |
| Gross Margin | — | 40.2% |
| Operating Margin | -258.2% | -164.1% |
| Net Margin | -234.3% | -176.6% |
| Revenue YoY | 223.8% | -26.9% |
| Net Profit YoY | -11.1% | 42.7% |
| EPS (diluted) | $-0.35 | $-0.85 |
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 | $15.8M | ||
| Q3 25 | $8.2M | $12.7M | ||
| Q2 25 | $7.6M | $19.2M | ||
| Q1 25 | $6.0M | $23.9M | ||
| Q4 24 | $2.9M | $21.7M | ||
| Q3 24 | $7.8M | $28.6M | ||
| Q2 24 | $6.9M | $25.4M | ||
| Q1 24 | $5.0M | $34.8M |
| Q4 25 | $-21.7M | $-28.0M | ||
| Q3 25 | $-15.8M | $-19.7M | ||
| Q2 25 | $-17.9M | $119.6M | ||
| Q1 25 | $-18.8M | $-20.7M | ||
| Q4 24 | $-19.5M | $-48.8M | ||
| Q3 24 | $-19.1M | $-12.5M | ||
| Q2 24 | $-23.0M | $-16.6M | ||
| Q1 24 | $-25.0M | $-25.5M |
| Q4 25 | — | 40.2% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | — | 48.9% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | — | 44.5% | ||
| Q2 24 | — | 43.0% | ||
| Q1 24 | — | 26.5% |
| Q4 25 | -258.2% | -164.1% | ||
| Q3 25 | -226.9% | -166.1% | ||
| Q2 25 | -279.2% | -122.7% | ||
| Q1 25 | -385.0% | -106.5% | ||
| Q4 24 | -840.5% | -144.1% | ||
| Q3 24 | -305.5% | -48.0% | ||
| Q2 24 | -386.6% | -48.6% | ||
| Q1 24 | -558.3% | -34.4% |
| Q4 25 | -234.3% | -176.6% | ||
| Q3 25 | -194.4% | -155.3% | ||
| Q2 25 | -237.3% | 623.4% | ||
| Q1 25 | -316.4% | -86.5% | ||
| Q4 24 | -682.9% | -225.2% | ||
| Q3 24 | -244.9% | -43.7% | ||
| Q2 24 | -333.6% | -65.2% | ||
| Q1 24 | -495.4% | -73.3% |
| Q4 25 | $-0.35 | $-0.85 | ||
| Q3 25 | $-0.25 | $-0.61 | ||
| Q2 25 | $-0.28 | $3.72 | ||
| Q1 25 | $-0.30 | $-0.77 | ||
| Q4 24 | $-0.23 | $-1.93 | ||
| Q3 24 | $-0.31 | $-0.50 | ||
| Q2 24 | $-0.45 | $-0.68 | ||
| Q1 24 | $-0.59 | $-1.17 |
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 | $81.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-108.5M | $112.9M |
| Total Assets | $198.1M | $211.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.9M | $81.8M | ||
| Q3 25 | $89.3M | $96.8M | ||
| Q2 25 | $72.6M | $117.6M | ||
| Q1 25 | $61.0M | $35.9M | ||
| Q4 24 | $55.5M | $19.2M | ||
| Q3 24 | $57.7M | $36.6M | ||
| Q2 24 | $138.9M | $45.8M | ||
| Q1 24 | $79.3M | $63.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | — | $103.1M | ||
| Q3 24 | — | $4.9M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $123.1M |
| Q4 25 | $-108.5M | $112.9M | ||
| Q3 25 | $-89.7M | $133.1M | ||
| Q2 25 | $-76.7M | $149.2M | ||
| Q1 25 | $-61.7M | $3.7M | ||
| Q4 24 | $-45.5M | $-11.7M | ||
| Q3 24 | $-28.3M | $30.8M | ||
| Q2 24 | $-14.3M | $40.3M | ||
| Q1 24 | $-97.5M | $52.5M |
| Q4 25 | $198.1M | $211.0M | ||
| Q3 25 | $205.0M | $224.3M | ||
| Q2 25 | $226.2M | $239.5M | ||
| Q1 25 | $258.7M | $208.8M | ||
| Q4 24 | $284.0M | $193.6M | ||
| Q3 24 | $308.4M | $224.2M | ||
| Q2 24 | $328.6M | $230.8M | ||
| Q1 24 | $255.0M | $252.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 27.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 2.35× |
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 | $-4.3M |
| Free Cash FlowOCF − Capex | — | $-16.2M |
| FCF MarginFCF / Revenue | — | -102.1% |
| Capex IntensityCapex / Revenue | 0.0% | 75.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-92.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-22.3M | $-4.3M | ||
| Q3 25 | $-18.9M | $-12.0M | ||
| Q2 25 | $-21.0M | $-35.1M | ||
| Q1 25 | $-24.0M | $-8.4M | ||
| Q4 24 | $-24.5M | $-19.2M | ||
| Q3 24 | $-21.0M | $14.0M | ||
| Q2 24 | $-25.5M | $-4.4M | ||
| Q1 24 | $-29.3M | $-8.8M |
| Q4 25 | — | $-16.2M | ||
| Q3 25 | — | $-20.4M | ||
| Q2 25 | $-21.0M | $-38.7M | ||
| Q1 25 | $-24.0M | $-17.3M | ||
| Q4 24 | $-25.0M | $-24.3M | ||
| Q3 24 | $-21.3M | $5.1M | ||
| Q2 24 | $-25.6M | $-9.9M | ||
| Q1 24 | $-29.4M | $-15.9M |
| Q4 25 | — | -102.1% | ||
| Q3 25 | — | -161.3% | ||
| Q2 25 | -278.2% | -201.7% | ||
| Q1 25 | -403.2% | -72.6% | ||
| Q4 24 | -875.3% | -112.2% | ||
| Q3 24 | -273.0% | 17.8% | ||
| Q2 24 | -371.0% | -39.0% | ||
| Q1 24 | -583.1% | -45.7% |
| Q4 25 | 0.0% | 75.1% | ||
| Q3 25 | 0.0% | 66.2% | ||
| Q2 25 | 0.3% | 18.8% | ||
| Q1 25 | 0.5% | 37.3% | ||
| Q4 24 | 16.8% | 23.5% | ||
| Q3 24 | 4.0% | 31.2% | ||
| Q2 24 | 0.2% | 21.8% | ||
| Q1 24 | 2.0% | 20.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.29× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
