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Side-by-side financial comparison of INFINITY NATURAL RESOURCES, INC. (INR) and Vericel Corp (VCEL). Click either name above to swap in a different company.
INFINITY NATURAL RESOURCES, INC. is the larger business by last-quarter revenue ($115.5M vs $92.9M, roughly 1.2× Vericel Corp). Vericel Corp runs the higher net margin — 25.0% vs 17.3%, a 7.7% gap on every dollar of revenue.
Vericel Corporation is a publicly traded American biopharmaceutical company which was known prior to October 2014 as Aastrom Bio. Aastrom Bio was formed in 1989 in Ann Arbor, Michigan.
INR vs VCEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $115.5M | $92.9M |
| Net Profit | $20.0M | $23.2M |
| Gross Margin | — | 78.7% |
| Operating Margin | 47.0% | 24.1% |
| Net Margin | 17.3% | 25.0% |
| Revenue YoY | — | 23.3% |
| Net Profit YoY | — | 17.3% |
| EPS (diluted) | $1.33 | $0.46 |
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 | $115.5M | $92.9M | ||
| Q3 25 | $78.3M | $67.5M | ||
| Q2 25 | $72.5M | $63.2M | ||
| Q1 25 | $84.2M | $52.6M | ||
| Q4 24 | — | $75.4M | ||
| Q3 24 | — | $57.9M | ||
| Q2 24 | — | $52.7M | ||
| Q1 24 | — | $51.3M |
| Q4 25 | $20.0M | $23.2M | ||
| Q3 25 | $10.4M | $5.1M | ||
| Q2 25 | $18.0M | $-553.0K | ||
| Q1 25 | $-34.6M | $-11.2M | ||
| Q4 24 | — | $19.8M | ||
| Q3 24 | — | $-901.0K | ||
| Q2 24 | — | $-4.7M | ||
| Q1 24 | — | $-3.9M |
| Q4 25 | — | 78.7% | ||
| Q3 25 | — | 73.5% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 69.0% | ||
| Q4 24 | — | 77.6% | ||
| Q3 24 | — | 71.9% | ||
| Q2 24 | — | 69.5% | ||
| Q1 24 | — | 68.9% |
| Q4 25 | 47.0% | 24.1% | ||
| Q3 25 | 30.5% | 5.1% | ||
| Q2 25 | 29.9% | -3.2% | ||
| Q1 25 | -104.5% | -24.3% | ||
| Q4 24 | — | 24.5% | ||
| Q3 24 | — | -4.3% | ||
| Q2 24 | — | -11.5% | ||
| Q1 24 | — | -10.7% |
| Q4 25 | 17.3% | 25.0% | ||
| Q3 25 | 13.3% | 7.5% | ||
| Q2 25 | 24.8% | -0.9% | ||
| Q1 25 | -41.1% | -21.4% | ||
| Q4 24 | — | 26.3% | ||
| Q3 24 | — | -1.6% | ||
| Q2 24 | — | -8.9% | ||
| Q1 24 | — | -7.5% |
| Q4 25 | $1.33 | $0.46 | ||
| Q3 25 | $0.65 | $0.10 | ||
| Q2 25 | $1.18 | $-0.01 | ||
| Q1 25 | $-2.27 | $-0.23 | ||
| Q4 24 | — | $0.40 | ||
| Q3 24 | — | $-0.02 | ||
| Q2 24 | — | $-0.10 | ||
| Q1 24 | — | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.8M | $137.5M |
| Total DebtLower is stronger | $55.0K | — |
| Stockholders' EquityBook value | $307.1M | $354.6M |
| Total Assets | $1.2B | $488.0M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.8M | $137.5M | ||
| Q3 25 | $4.6M | $135.4M | ||
| Q2 25 | $6.3M | $116.9M | ||
| Q1 25 | $4.9M | $112.9M | ||
| Q4 24 | — | $116.2M | ||
| Q3 24 | — | $101.7M | ||
| Q2 24 | — | $102.5M | ||
| Q1 24 | — | $110.6M |
| Q4 25 | $55.0K | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $123.0K | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $307.1M | $354.6M | ||
| Q3 25 | $288.6M | $321.9M | ||
| Q2 25 | $10.1M | $306.8M | ||
| Q1 25 | $-52.2M | $295.5M | ||
| Q4 24 | — | $292.0M | ||
| Q3 24 | — | $257.5M | ||
| Q2 24 | — | $243.0M | ||
| Q1 24 | — | $233.9M |
| Q4 25 | $1.2B | $488.0M | ||
| Q3 25 | $1.1B | $453.3M | ||
| Q2 25 | $1.0B | $435.6M | ||
| Q1 25 | $953.9M | $424.6M | ||
| Q4 24 | — | $432.7M | ||
| Q3 24 | — | $390.4M | ||
| Q2 24 | — | $376.8M | ||
| Q1 24 | — | $356.7M |
| Q4 25 | 0.00× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $75.1M | $15.0M |
| Free Cash FlowOCF − Capex | — | $12.8M |
| FCF MarginFCF / Revenue | — | 13.8% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | 3.75× | 0.65× |
| TTM Free Cash FlowTrailing 4 quarters | — | $24.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.1M | $15.0M | ||
| Q3 25 | $42.1M | $22.1M | ||
| Q2 25 | $70.4M | $8.2M | ||
| Q1 25 | $74.2M | $6.6M | ||
| Q4 24 | — | $22.2M | ||
| Q3 24 | — | $10.2M | ||
| Q2 24 | — | $18.5M | ||
| Q1 24 | — | $7.2M |
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | — | $-7.6M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $-9.2M | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | — | $-6.8M |
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | -14.5% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | -15.9% | ||
| Q2 24 | — | 3.4% | ||
| Q1 24 | — | -13.3% |
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | — | 18.3% | ||
| Q3 24 | — | 33.5% | ||
| Q2 24 | — | 31.8% | ||
| Q1 24 | — | 27.3% |
| Q4 25 | 3.75× | 0.65× | ||
| Q3 25 | 4.04× | 4.35× | ||
| Q2 25 | 3.91× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INR
| Oil Reserves | $54.0M | 47% |
| Natural Gas Reserves | $46.8M | 41% |
| Natural Gas Liquids Reserves | $14.7M | 13% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
