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Side-by-side financial comparison of Foghorn Therapeutics Inc. (FHTX) and SWK Holdings Corp (SWKH). Click either name above to swap in a different company.
Foghorn Therapeutics Inc. is the larger business by last-quarter revenue ($9.2M vs $8.7M, roughly 1.1× SWK Holdings Corp). On growth, Foghorn Therapeutics Inc. posted the faster year-over-year revenue change (223.8% vs -29.7%). Over the past eight quarters, Foghorn Therapeutics Inc.'s revenue compounded faster (35.3% CAGR vs -12.5%).
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.
SWK Holdings Corp is a specialty finance firm focused on the healthcare and life sciences sectors. It provides tailored financing solutions including royalty monetization, structured debt, and asset-backed lending to biotech, pharmaceutical, medical device and diagnostic companies, with its core market centered in North America.
FHTX vs SWKH — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.2M | $8.7M |
| Net Profit | $-21.7M | $-19.4M |
| Gross Margin | — | — |
| Operating Margin | -258.2% | 9.9% |
| Net Margin | -234.3% | — |
| Revenue YoY | 223.8% | -29.7% |
| Net Profit YoY | -11.1% | -430.2% |
| EPS (diluted) | $-0.35 | $-1.59 |
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 | $8.7M | ||
| Q3 25 | $8.2M | $10.9M | ||
| Q2 25 | $7.6M | $10.1M | ||
| Q1 25 | $6.0M | $11.8M | ||
| Q4 24 | $2.9M | $12.4M | ||
| Q3 24 | $7.8M | $10.4M | ||
| Q2 24 | $6.9M | $10.8M | ||
| Q1 24 | $5.0M | $11.4M |
| Q4 25 | $-21.7M | $-19.4M | ||
| Q3 25 | $-15.8M | $8.8M | ||
| Q2 25 | $-17.9M | $3.5M | ||
| Q1 25 | $-18.8M | $4.5M | ||
| Q4 24 | $-19.5M | $5.9M | ||
| Q3 24 | $-19.1M | $3.5M | ||
| Q2 24 | $-23.0M | $3.7M | ||
| Q1 24 | $-25.0M | $468.0K |
| Q4 25 | -258.2% | 9.9% | ||
| Q3 25 | -226.9% | 61.3% | ||
| Q2 25 | -279.2% | 46.1% | ||
| Q1 25 | -385.0% | 68.6% | ||
| Q4 24 | -840.5% | 44.7% | ||
| Q3 24 | -305.5% | 39.2% | ||
| Q2 24 | -386.6% | 8.3% | ||
| Q1 24 | -558.3% | 9.5% |
| Q4 25 | -234.3% | — | ||
| Q3 25 | -194.4% | 80.7% | ||
| Q2 25 | -237.3% | 35.2% | ||
| Q1 25 | -316.4% | 38.4% | ||
| Q4 24 | -682.9% | 47.5% | ||
| Q3 24 | -244.9% | 33.3% | ||
| Q2 24 | -333.6% | 33.9% | ||
| Q1 24 | -495.4% | 4.1% |
| Q4 25 | $-0.35 | $-1.59 | ||
| Q3 25 | $-0.25 | $0.72 | ||
| Q2 25 | $-0.28 | $0.29 | ||
| Q1 25 | $-0.30 | $0.37 | ||
| Q4 24 | $-0.23 | $0.47 | ||
| Q3 24 | $-0.31 | $0.28 | ||
| Q2 24 | $-0.45 | $0.30 | ||
| Q1 24 | $-0.59 | $0.04 |
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 | $42.8M |
| Total DebtLower is stronger | — | $33.0M |
| Stockholders' EquityBook value | $-108.5M | $235.1M |
| Total Assets | $198.1M | $272.4M |
| Debt / EquityLower = less leverage | — | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $80.9M | $42.8M | ||
| Q3 25 | $89.3M | $10.2M | ||
| Q2 25 | $72.6M | $8.0M | ||
| Q1 25 | $61.0M | $29.8M | ||
| Q4 24 | $55.5M | $5.9M | ||
| Q3 24 | $57.7M | $17.2M | ||
| Q2 24 | $138.9M | $5.5M | ||
| Q1 24 | $79.3M | $5.5M |
| Q4 25 | — | $33.0M | ||
| Q3 25 | — | $33.0M | ||
| Q2 25 | — | $33.0M | ||
| Q1 25 | — | $33.0M | ||
| Q4 24 | — | $33.0M | ||
| Q3 24 | — | $33.0M | ||
| Q2 24 | — | $33.0M | ||
| Q1 24 | — | $33.0M |
| Q4 25 | $-108.5M | $235.1M | ||
| Q3 25 | $-89.7M | $254.2M | ||
| Q2 25 | $-76.7M | $246.5M | ||
| Q1 25 | $-61.7M | $292.7M | ||
| Q4 24 | $-45.5M | $288.7M | ||
| Q3 24 | $-28.3M | $283.4M | ||
| Q2 24 | $-14.3M | $282.8M | ||
| Q1 24 | $-97.5M | $279.9M |
| Q4 25 | $198.1M | $272.4M | ||
| Q3 25 | $205.0M | $289.4M | ||
| Q2 25 | $226.2M | $285.7M | ||
| Q1 25 | $258.7M | $331.3M | ||
| Q4 24 | $284.0M | $332.2M | ||
| Q3 24 | $308.4M | $321.3M | ||
| Q2 24 | $328.6M | $321.0M | ||
| Q1 24 | $255.0M | $322.0M |
| Q4 25 | — | 0.14× | ||
| Q3 25 | — | 0.13× | ||
| Q2 25 | — | 0.13× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | — | 0.11× | ||
| Q3 24 | — | 0.12× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 0.12× |
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 | $27.3M |
| Free Cash FlowOCF − Capex | — | $26.8M |
| FCF MarginFCF / Revenue | — | 308.1% |
| Capex IntensityCapex / Revenue | 0.0% | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $43.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-22.3M | $27.3M | ||
| Q3 25 | $-18.9M | $906.0K | ||
| Q2 25 | $-21.0M | $7.8M | ||
| Q1 25 | $-24.0M | $8.3M | ||
| Q4 24 | $-24.5M | $23.0M | ||
| Q3 24 | $-21.0M | $6.3M | ||
| Q2 24 | $-25.5M | $5.4M | ||
| Q1 24 | $-29.3M | $4.4M |
| Q4 25 | — | $26.8M | ||
| Q3 25 | — | $557.0K | ||
| Q2 25 | $-21.0M | $7.7M | ||
| Q1 25 | $-24.0M | $8.2M | ||
| Q4 24 | $-25.0M | $22.9M | ||
| Q3 24 | $-21.3M | $6.3M | ||
| Q2 24 | $-25.6M | $5.4M | ||
| Q1 24 | $-29.4M | — |
| Q4 25 | — | 308.1% | ||
| Q3 25 | — | 5.1% | ||
| Q2 25 | -278.2% | 77.0% | ||
| Q1 25 | -403.2% | 69.1% | ||
| Q4 24 | -875.3% | 185.3% | ||
| Q3 24 | -273.0% | 60.4% | ||
| Q2 24 | -371.0% | 49.7% | ||
| Q1 24 | -583.1% | — |
| Q4 25 | 0.0% | 5.9% | ||
| Q3 25 | 0.0% | 3.2% | ||
| Q2 25 | 0.3% | 0.6% | ||
| Q1 25 | 0.5% | 0.8% | ||
| Q4 24 | 16.8% | 1.1% | ||
| Q3 24 | 4.0% | 0.3% | ||
| Q2 24 | 0.2% | 0.2% | ||
| Q1 24 | 2.0% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.10× | ||
| Q2 25 | — | 2.21× | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | — | 3.93× | ||
| Q3 24 | — | 1.82× | ||
| Q2 24 | — | 1.47× | ||
| Q1 24 | — | 9.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FHTX
Segment breakdown not available.
SWKH
| Finance Receivables Segment | $8.4M | 96% |
| Other | $329.0K | 4% |
