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Side-by-side financial comparison of GERON CORP (GERN) and KKR Real Estate Finance Trust Inc. (KREF). Click either name above to swap in a different company.
GERON CORP is the larger business by last-quarter revenue ($47.2M vs $25.8M, roughly 1.8× KKR Real Estate Finance Trust Inc.). GERON CORP runs the higher net margin — -39.0% vs -101.7%, a 62.7% gap on every dollar of revenue. On growth, GERON CORP posted the faster year-over-year revenue change (67.1% vs -26.6%). Over the past eight quarters, GERON CORP's revenue compounded faster (1597.0% CAGR vs -18.8%).
Geron Corporation is a biotechnology company located in Foster City, California which specializes in developing and commercializing therapeutic products for cancer that inhibit telomerase.
KKR Real Estate Finance Trust Inc. is a specialized real estate finance firm sponsored by global investment firm KKR. It primarily originates, acquires, and manages a portfolio of senior secured commercial real estate loans, mostly backed by high-quality institutional commercial properties across the United States, delivering stable risk-adjusted returns to investors via interest income from its diversified assets.
GERN vs KREF — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $47.2M | $25.8M |
| Net Profit | $-18.4M | $-26.2M |
| Gross Margin | — | — |
| Operating Margin | -29.4% | -105.1% |
| Net Margin | -39.0% | -101.7% |
| Revenue YoY | 67.1% | -26.6% |
| Net Profit YoY | 30.3% | -229.6% |
| EPS (diluted) | $-0.03 | $-0.49 |
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 | — | $25.8M | ||
| Q3 25 | $47.2M | $25.3M | ||
| Q2 25 | $49.0M | $30.2M | ||
| Q1 25 | $39.6M | $31.3M | ||
| Q4 24 | — | $35.1M | ||
| Q3 24 | $28.3M | $37.0M | ||
| Q2 24 | $882.0K | $40.4M | ||
| Q1 24 | $304.0K | $39.1M |
| Q4 25 | — | $-26.2M | ||
| Q3 25 | $-18.4M | $13.8M | ||
| Q2 25 | $-16.4M | $-29.7M | ||
| Q1 25 | $-19.8M | $-4.9M | ||
| Q4 24 | — | $20.3M | ||
| Q3 24 | $-26.4M | $-7.4M | ||
| Q2 24 | $-67.4M | $25.8M | ||
| Q1 24 | $-55.4M | $-3.1M |
| Q4 25 | — | -105.1% | ||
| Q3 25 | -29.4% | 50.4% | ||
| Q2 25 | -25.4% | -101.3% | ||
| Q1 25 | -42.2% | -18.3% | ||
| Q4 24 | — | 55.8% | ||
| Q3 24 | -99.8% | -19.6% | ||
| Q2 24 | -7860.9% | 63.3% | ||
| Q1 24 | -18465.1% | -8.7% |
| Q4 25 | — | -101.7% | ||
| Q3 25 | -39.0% | 54.4% | ||
| Q2 25 | -33.4% | -98.5% | ||
| Q1 25 | -50.1% | -15.5% | ||
| Q4 24 | — | 57.7% | ||
| Q3 24 | -93.5% | -20.0% | ||
| Q2 24 | -7639.8% | 63.9% | ||
| Q1 24 | -18220.4% | -7.9% |
| Q4 25 | — | $-0.49 | ||
| Q3 25 | $-0.03 | $0.12 | ||
| Q2 25 | $-0.02 | $-0.53 | ||
| Q1 25 | $-0.03 | $-0.15 | ||
| Q4 24 | — | $0.22 | ||
| Q3 24 | $-0.04 | $-0.19 | ||
| Q2 24 | $-0.10 | $0.29 | ||
| Q1 24 | $-0.09 | $-0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $78.1M | $84.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $248.7M | $1.2B |
| Total Assets | $567.4M | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $84.6M | ||
| Q3 25 | $78.1M | $204.1M | ||
| Q2 25 | $77.7M | $107.7M | ||
| Q1 25 | $83.7M | $106.4M | ||
| Q4 24 | — | $104.9M | ||
| Q3 24 | $60.3M | $108.8M | ||
| Q2 24 | $116.9M | $107.2M | ||
| Q1 24 | $189.8M | $106.5M |
| Q4 25 | — | $1.2B | ||
| Q3 25 | $248.7M | $1.2B | ||
| Q2 25 | $259.5M | $1.2B | ||
| Q1 25 | $268.2M | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $292.3M | $1.4B | ||
| Q2 24 | $306.7M | $1.4B | ||
| Q1 24 | $344.9M | $1.4B |
| Q4 25 | — | $6.5B | ||
| Q3 25 | $567.4M | $6.5B | ||
| Q2 25 | $555.2M | $6.8B | ||
| Q1 25 | $562.5M | $6.6B | ||
| Q4 24 | — | $6.4B | ||
| Q3 24 | $444.9M | $6.8B | ||
| Q2 24 | $449.4M | $7.1B | ||
| Q1 24 | $482.1M | $7.3B |
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 | $-13.6M | $72.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $72.3M | ||
| Q3 25 | $-13.6M | $18.5M | ||
| Q2 25 | $-27.4M | $21.1M | ||
| Q1 25 | $-48.0M | $15.9M | ||
| Q4 24 | — | $132.6M | ||
| Q3 24 | $-58.9M | $49.1M | ||
| Q2 24 | $-53.5M | $30.6M | ||
| Q1 24 | $-62.3M | $34.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-53.7M | — | ||
| Q1 24 | $-62.9M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -6086.6% | — | ||
| Q1 24 | -20680.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 23.4% | — | ||
| Q1 24 | 202.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 6.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
