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Side-by-side financial comparison of Invivyd, Inc. (IVVD) and Metalpha Technology Holding Ltd (MATH). Click either name above to swap in a different company.
Invivyd, Inc. is the larger business by last-quarter revenue ($17.2M vs $12.0M, roughly 1.4× Metalpha Technology Holding Ltd). Metalpha Technology Holding Ltd runs the higher net margin — -24.0% vs -64.3%, a 40.3% gap on every dollar of revenue. On growth, Invivyd, Inc. posted the faster year-over-year revenue change (24.5% vs -39.0%).
Invivyd, Inc. is a clinical-stage biopharmaceutical company focused on developing broadly neutralizing antibody therapies to prevent and treat serious viral infectious diseases. Its core research and development pipeline targets high-burden respiratory pathogens including respiratory syncytial virus, catering to unmet medical needs of global patient groups.
Metalpha Technology Holding LtdMATHEarnings & Financial Report
Metalpha Technology Holding Ltd is a global fintech firm specializing in digital asset wealth management, institutional-grade crypto investment services, and Web3 ecosystem infrastructure support. It serves professional investors, financial institutions, and high-net-worth clients across Asia, North America and Europe, with core segments including structured digital asset products, risk management solutions and DeFi technology development.
IVVD vs MATH — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.2M | $12.0M |
| Net Profit | $-11.1M | $-2.9M |
| Gross Margin | — | 28.3% |
| Operating Margin | -73.0% | -24.2% |
| Net Margin | -64.3% | -24.0% |
| Revenue YoY | 24.5% | -39.0% |
| Net Profit YoY | 40.0% | -147.7% |
| EPS (diluted) | $0.02 | $-0.07 |
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 | $17.2M | — | ||
| Q3 25 | $13.1M | $12.0M | ||
| Q2 25 | $11.8M | — | ||
| Q1 25 | $11.3M | $24.8M | ||
| Q4 24 | $13.8M | — | ||
| Q3 24 | $9.3M | $19.7M | ||
| Q2 24 | $2.3M | — | ||
| Q1 24 | $0 | — |
| Q4 25 | $-11.1M | — | ||
| Q3 25 | $-10.5M | $-2.9M | ||
| Q2 25 | $-14.7M | — | ||
| Q1 25 | $-16.3M | $9.8M | ||
| Q4 24 | $-18.4M | — | ||
| Q3 24 | $-60.7M | $6.0M | ||
| Q2 24 | $-47.2M | — | ||
| Q1 24 | $-43.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 28.3% | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 85.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 49.5% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -73.0% | — | ||
| Q3 25 | -84.0% | -24.2% | ||
| Q2 25 | -127.8% | — | ||
| Q1 25 | -149.7% | 39.3% | ||
| Q4 24 | -139.1% | — | ||
| Q3 24 | -670.0% | 38.9% | ||
| Q2 24 | -2175.2% | — | ||
| Q1 24 | — | — |
| Q4 25 | -64.3% | — | ||
| Q3 25 | -79.7% | -24.0% | ||
| Q2 25 | -124.4% | — | ||
| Q1 25 | -144.1% | 39.6% | ||
| Q4 24 | -133.5% | — | ||
| Q3 24 | -653.1% | 30.7% | ||
| Q2 24 | -2086.9% | — | ||
| Q1 24 | — | — |
| Q4 25 | $0.02 | — | ||
| Q3 25 | $-0.06 | $-0.07 | ||
| Q2 25 | $-0.12 | — | ||
| Q1 25 | $-0.14 | $0.25 | ||
| Q4 24 | $-0.14 | — | ||
| Q3 24 | $-0.51 | $0.16 | ||
| Q2 24 | $-0.40 | — | ||
| Q1 24 | $-0.38 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $226.7M | $10.1M |
| Total DebtLower is stronger | — | $101.2K |
| Stockholders' EquityBook value | $241.5M | $35.1M |
| Total Assets | $276.9M | $413.8M |
| Debt / EquityLower = less leverage | — | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $226.7M | — | ||
| Q3 25 | $85.0M | $10.1M | ||
| Q2 25 | $34.9M | — | ||
| Q1 25 | $48.1M | $6.9M | ||
| Q4 24 | $69.3M | — | ||
| Q3 24 | $106.9M | $3.8M | ||
| Q2 24 | $147.9M | — | ||
| Q1 24 | $189.4M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | $101.2K | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $188.0K | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $275.1K | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $241.5M | — | ||
| Q3 25 | $93.1M | $35.1M | ||
| Q2 25 | $42.8M | — | ||
| Q1 25 | $54.1M | $36.6M | ||
| Q4 24 | $67.5M | — | ||
| Q3 24 | $83.2M | $25.3M | ||
| Q2 24 | $140.6M | — | ||
| Q1 24 | $178.5M | — |
| Q4 25 | $276.9M | — | ||
| Q3 25 | $139.2M | $413.8M | ||
| Q2 25 | $89.1M | — | ||
| Q1 25 | $103.7M | $246.8M | ||
| Q4 24 | $129.5M | — | ||
| Q3 24 | $161.9M | $237.2M | ||
| Q2 24 | $177.3M | — | ||
| Q1 24 | $215.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 0.01× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.01× | ||
| 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 | $-15.5M | $3.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 0.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.5M | — | ||
| Q3 25 | $-8.3M | $3.3M | ||
| Q2 25 | $-13.3M | — | ||
| Q1 25 | $-21.1M | $16.2M | ||
| Q4 24 | $-37.6M | — | ||
| Q3 24 | $-41.1M | $-16.1M | ||
| Q2 24 | $-41.6M | — | ||
| Q1 24 | $-50.2M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $-13.3M | — | ||
| Q1 25 | $-21.3M | — | ||
| Q4 24 | $-37.6M | — | ||
| Q3 24 | $-41.1M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $-50.4M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -112.9% | — | ||
| Q1 25 | -188.2% | — | ||
| Q4 24 | -272.2% | — | ||
| Q3 24 | -441.6% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.0% | — | ||
| Q3 25 | 0.0% | — | ||
| Q2 25 | 0.1% | — | ||
| Q1 25 | 1.3% | — | ||
| Q4 24 | 0.0% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.64× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -2.66× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
