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Side-by-side financial comparison of Invivyd, Inc. (IVVD) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
Spok Holdings, Inc is the larger business by last-quarter revenue ($33.9M vs $17.2M, roughly 2.0× Invivyd, Inc.). Spok Holdings, Inc runs the higher net margin — 8.7% vs -64.3%, a 73.0% gap on every dollar of revenue. On growth, Invivyd, Inc. posted the faster year-over-year revenue change (24.5% vs -0.1%).
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.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
IVVD vs SPOK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.2M | $33.9M |
| Net Profit | $-11.1M | $2.9M |
| Gross Margin | — | 76.7% |
| Operating Margin | -73.0% | 11.6% |
| Net Margin | -64.3% | 8.7% |
| Revenue YoY | 24.5% | -0.1% |
| Net Profit YoY | 40.0% | -19.6% |
| EPS (diluted) | $0.02 | $0.13 |
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 | $33.9M | ||
| Q3 25 | $13.1M | $33.9M | ||
| Q2 25 | $11.8M | $35.7M | ||
| Q1 25 | $11.3M | $36.3M | ||
| Q4 24 | $13.8M | $33.9M | ||
| Q3 24 | $9.3M | $34.9M | ||
| Q2 24 | $2.3M | $34.0M | ||
| Q1 24 | $0 | $34.9M |
| Q4 25 | $-11.1M | $2.9M | ||
| Q3 25 | $-10.5M | $3.2M | ||
| Q2 25 | $-14.7M | $4.6M | ||
| Q1 25 | $-16.3M | $5.2M | ||
| Q4 24 | $-18.4M | $3.6M | ||
| Q3 24 | $-60.7M | $3.7M | ||
| Q2 24 | $-47.2M | $3.4M | ||
| Q1 24 | $-43.5M | $4.2M |
| Q4 25 | — | 76.7% | ||
| Q3 25 | — | 78.3% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 80.1% | ||
| Q4 24 | — | 78.5% | ||
| Q3 24 | — | 79.5% | ||
| Q2 24 | — | 78.9% | ||
| Q1 24 | — | 79.5% |
| Q4 25 | -73.0% | 11.6% | ||
| Q3 25 | -84.0% | 12.9% | ||
| Q2 25 | -127.8% | 15.1% | ||
| Q1 25 | -149.7% | 16.6% | ||
| Q4 24 | -139.1% | 13.7% | ||
| Q3 24 | -670.0% | 14.2% | ||
| Q2 24 | -2175.2% | 13.2% | ||
| Q1 24 | — | 14.0% |
| Q4 25 | -64.3% | 8.7% | ||
| Q3 25 | -79.7% | 9.5% | ||
| Q2 25 | -124.4% | 12.8% | ||
| Q1 25 | -144.1% | 14.3% | ||
| Q4 24 | -133.5% | 10.8% | ||
| Q3 24 | -653.1% | 10.5% | ||
| Q2 24 | -2086.9% | 10.1% | ||
| Q1 24 | — | 12.1% |
| Q4 25 | $0.02 | $0.13 | ||
| Q3 25 | $-0.06 | $0.15 | ||
| Q2 25 | $-0.12 | $0.22 | ||
| Q1 25 | $-0.14 | $0.25 | ||
| Q4 24 | $-0.14 | $0.17 | ||
| Q3 24 | $-0.51 | $0.18 | ||
| Q2 24 | $-0.40 | $0.17 | ||
| Q1 24 | $-0.38 | $0.21 |
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 | $25.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $241.5M | $146.4M |
| Total Assets | $276.9M | $206.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $226.7M | $25.3M | ||
| Q3 25 | $85.0M | $21.4M | ||
| Q2 25 | $34.9M | $20.2M | ||
| Q1 25 | $48.1M | $19.9M | ||
| Q4 24 | $69.3M | $29.1M | ||
| Q3 24 | $106.9M | $27.8M | ||
| Q2 24 | $147.9M | $23.9M | ||
| Q1 24 | $189.4M | $23.3M |
| Q4 25 | $241.5M | $146.4M | ||
| Q3 25 | $93.1M | $148.7M | ||
| Q2 25 | $42.8M | $150.9M | ||
| Q1 25 | $54.1M | $151.7M | ||
| Q4 24 | $67.5M | $154.7M | ||
| Q3 24 | $83.2M | $156.3M | ||
| Q2 24 | $140.6M | $158.2M | ||
| Q1 24 | $178.5M | $160.2M |
| Q4 25 | $276.9M | $206.1M | ||
| Q3 25 | $139.2M | $209.7M | ||
| Q2 25 | $89.1M | $208.7M | ||
| Q1 25 | $103.7M | $204.5M | ||
| Q4 24 | $129.5M | $217.1M | ||
| Q3 24 | $161.9M | $216.8M | ||
| Q2 24 | $177.3M | $216.4M | ||
| Q1 24 | $215.5M | $215.0M |
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 | $11.5M |
| Free Cash FlowOCF − Capex | — | $10.1M |
| FCF MarginFCF / Revenue | — | 29.9% |
| Capex IntensityCapex / Revenue | 0.0% | 4.1% |
| Cash ConversionOCF / Net Profit | — | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.5M | $11.5M | ||
| Q3 25 | $-8.3M | $8.1M | ||
| Q2 25 | $-13.3M | $7.0M | ||
| Q1 25 | $-21.1M | $2.3M | ||
| Q4 24 | $-37.6M | $8.4M | ||
| Q3 24 | $-41.1M | $11.1M | ||
| Q2 24 | $-41.6M | $7.4M | ||
| Q1 24 | $-50.2M | $2.0M |
| Q4 25 | — | $10.1M | ||
| Q3 25 | — | $7.6M | ||
| Q2 25 | $-13.3M | $6.0M | ||
| Q1 25 | $-21.3M | $1.5M | ||
| Q4 24 | $-37.6M | $7.5M | ||
| Q3 24 | $-41.1M | $10.3M | ||
| Q2 24 | — | $6.8M | ||
| Q1 24 | $-50.4M | $1.1M |
| Q4 25 | — | 29.9% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | -112.9% | 16.8% | ||
| Q1 25 | -188.2% | 4.2% | ||
| Q4 24 | -272.2% | 22.3% | ||
| Q3 24 | -441.6% | 29.4% | ||
| Q2 24 | — | 20.0% | ||
| Q1 24 | — | 3.2% |
| Q4 25 | 0.0% | 4.1% | ||
| Q3 25 | 0.0% | 1.6% | ||
| Q2 25 | 0.1% | 2.9% | ||
| Q1 25 | 1.3% | 2.1% | ||
| Q4 24 | 0.0% | 2.5% | ||
| Q3 24 | 0.1% | 2.4% | ||
| Q2 24 | 0.0% | 1.9% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | — | 3.93× | ||
| Q3 25 | — | 2.54× | ||
| Q2 25 | — | 1.55× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 3.03× | ||
| Q2 24 | — | 2.17× | ||
| Q1 24 | — | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IVVD
Segment breakdown not available.
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
