vs
Side-by-side financial comparison of Immunocore Holdings plc (IMCR) and QUALYS, INC. (QLYS). Click either name above to swap in a different company.
QUALYS, INC. is the larger business by last-quarter revenue ($175.3M vs $104.5M, roughly 1.7× Immunocore Holdings plc). On growth, Immunocore Holdings plc posted the faster year-over-year revenue change (24.3% vs 10.1%). QUALYS, INC. produced more free cash flow last quarter ($74.9M vs $-35.5M). Over the past eight quarters, Immunocore Holdings plc's revenue compounded faster (21.7% CAGR vs 9.6%).
Immunocore is a global commercial-stage biotechnology company, based in Oxfordshire, which researches and develops biological drugs using soluble T-cell receptor technology.
Qualys, Inc. is an American technology firm based in Foster City, California, specializing in cloud security, compliance and related services.
IMCR vs QLYS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $104.5M | $175.3M |
| Net Profit | — | $53.1M |
| Gross Margin | 97.4% | 83.4% |
| Operating Margin | -18.8% | 33.6% |
| Net Margin | — | 30.3% |
| Revenue YoY | 24.3% | 10.1% |
| Net Profit YoY | — | 20.9% |
| EPS (diluted) | $-0.61 | $1.47 |
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 | $104.5M | $175.3M | ||
| Q3 25 | $103.7M | $169.9M | ||
| Q2 25 | $98.0M | $164.1M | ||
| Q1 25 | $93.9M | $159.9M | ||
| Q4 24 | $84.1M | $159.2M | ||
| Q3 24 | $80.2M | $153.9M | ||
| Q2 24 | $75.4M | $148.7M | ||
| Q1 24 | $70.5M | $145.8M |
| Q4 25 | — | $53.1M | ||
| Q3 25 | $-177.0K | $50.3M | ||
| Q2 25 | $-10.3M | $47.3M | ||
| Q1 25 | $5.0M | $47.5M | ||
| Q4 24 | — | $44.0M | ||
| Q3 24 | $8.7M | $46.2M | ||
| Q2 24 | $-11.6M | $43.8M | ||
| Q1 24 | $-24.4M | $39.7M |
| Q4 25 | 97.4% | 83.4% | ||
| Q3 25 | 99.5% | 83.6% | ||
| Q2 25 | 98.9% | 82.4% | ||
| Q1 25 | 99.1% | 81.9% | ||
| Q4 24 | 99.6% | 81.8% | ||
| Q3 24 | 99.4% | 81.3% | ||
| Q2 24 | 97.7% | 82.2% | ||
| Q1 24 | 99.7% | 81.3% |
| Q4 25 | -18.8% | 33.6% | ||
| Q3 25 | -6.9% | 35.3% | ||
| Q2 25 | -15.2% | 31.3% | ||
| Q1 25 | -3.9% | 32.4% | ||
| Q4 24 | -23.1% | 31.0% | ||
| Q3 24 | -10.6% | 29.2% | ||
| Q2 24 | -21.2% | 32.3% | ||
| Q1 24 | -37.6% | 30.7% |
| Q4 25 | — | 30.3% | ||
| Q3 25 | -0.2% | 29.6% | ||
| Q2 25 | -10.5% | 28.8% | ||
| Q1 25 | 5.4% | 29.7% | ||
| Q4 24 | — | 27.6% | ||
| Q3 24 | 10.9% | 30.0% | ||
| Q2 24 | -15.4% | 29.4% | ||
| Q1 24 | -34.7% | 27.2% |
| Q4 25 | $-0.61 | $1.47 | ||
| Q3 25 | $0.00 | $1.39 | ||
| Q2 25 | $-0.20 | $1.29 | ||
| Q1 25 | $0.10 | $1.29 | ||
| Q4 24 | $-0.47 | $1.19 | ||
| Q3 24 | $0.17 | $1.24 | ||
| Q2 24 | $-0.23 | $1.17 | ||
| Q1 24 | $-0.49 | $1.05 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $864.2M | $250.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $381.0M | $561.2M |
| Total Assets | $1.1B | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $864.2M | $250.3M | ||
| Q3 25 | $892.4M | $225.3M | ||
| Q2 25 | $882.8M | $194.0M | ||
| Q1 25 | $837.0M | $290.7M | ||
| Q4 24 | $820.4M | $232.2M | ||
| Q3 24 | $901.3M | $235.4M | ||
| Q2 24 | $859.6M | $281.2M | ||
| Q1 24 | $832.8M | $273.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $438.7M | — | ||
| Q2 24 | $452.5M | — | ||
| Q1 24 | $452.5M | — |
| Q4 25 | $381.0M | $561.2M | ||
| Q3 25 | $396.6M | $529.4M | ||
| Q2 25 | $388.5M | $508.2M | ||
| Q1 25 | $378.5M | $498.0M | ||
| Q4 24 | $360.7M | $477.1M | ||
| Q3 24 | $377.8M | $449.6M | ||
| Q2 24 | $359.1M | $427.8M | ||
| Q1 24 | $359.5M | $404.2M |
| Q4 25 | $1.1B | $1.1B | ||
| Q3 25 | $1.1B | $1.0B | ||
| Q2 25 | $1.1B | $999.5M | ||
| Q1 25 | $1.0B | $996.5M | ||
| Q4 24 | $1.0B | $973.5M | ||
| Q3 24 | $1.1B | $908.3M | ||
| Q2 24 | $1.0B | $876.6M | ||
| Q1 24 | $994.0M | $861.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.16× | — | ||
| Q2 24 | 1.26× | — | ||
| Q1 24 | 1.26× | — |
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 | $-32.7M | $75.7M |
| Free Cash FlowOCF − Capex | $-35.5M | $74.9M |
| FCF MarginFCF / Revenue | -34.0% | 42.8% |
| Capex IntensityCapex / Revenue | 2.8% | 0.4% |
| Cash ConversionOCF / Net Profit | — | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | $-15.1M | $304.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-32.7M | $75.7M | ||
| Q3 25 | $-4.5M | $90.4M | ||
| Q2 25 | $26.0M | $33.8M | ||
| Q1 25 | $435.0K | $109.6M | ||
| Q4 24 | $-14.0M | $47.7M | ||
| Q3 24 | $21.1M | $61.0M | ||
| Q2 24 | $23.5M | $49.8M | ||
| Q1 24 | $-4.6M | $85.5M |
| Q4 25 | $-35.5M | $74.9M | ||
| Q3 25 | $-5.2M | $89.5M | ||
| Q2 25 | $25.6M | $32.4M | ||
| Q1 25 | $137.0K | $107.5M | ||
| Q4 24 | $-17.5M | $41.9M | ||
| Q3 24 | $20.3M | $57.6M | ||
| Q2 24 | $23.1M | $48.8M | ||
| Q1 24 | $-5.0M | $83.5M |
| Q4 25 | -34.0% | 42.8% | ||
| Q3 25 | -5.0% | 52.7% | ||
| Q2 25 | 26.1% | 19.8% | ||
| Q1 25 | 0.1% | 67.3% | ||
| Q4 24 | -20.9% | 26.3% | ||
| Q3 24 | 25.3% | 37.4% | ||
| Q2 24 | 30.7% | 32.8% | ||
| Q1 24 | -7.1% | 57.2% |
| Q4 25 | 2.8% | 0.4% | ||
| Q3 25 | 0.7% | 0.5% | ||
| Q2 25 | 0.4% | 0.8% | ||
| Q1 25 | 0.3% | 1.3% | ||
| Q4 24 | 4.3% | 3.7% | ||
| Q3 24 | 1.0% | 2.2% | ||
| Q2 24 | 0.4% | 0.7% | ||
| Q1 24 | 0.6% | 1.4% |
| Q4 25 | — | 1.42× | ||
| Q3 25 | — | 1.80× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | 0.09× | 2.31× | ||
| Q4 24 | — | 1.09× | ||
| Q3 24 | 2.42× | 1.32× | ||
| Q2 24 | — | 1.14× | ||
| Q1 24 | — | 2.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IMCR
Segment breakdown not available.
QLYS
| Sales Channel Through Intermediary | $88.6M | 51% |
| Sales Channel Directly To Consumer | $86.7M | 49% |
