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Side-by-side financial comparison of LENZ Therapeutics, Inc. (LENZ) and Maase Inc. (MAAS). Click either name above to swap in a different company.
LENZ Therapeutics, Inc. is the larger business by last-quarter revenue ($12.5M vs $9.9M, roughly 1.3× Maase Inc.). LENZ Therapeutics, Inc. produced more free cash flow last quarter ($-9.0M vs $-18.3M).
LENZ Therapeutics, Inc. is a clinical-stage biopharmaceutical firm dedicated to developing novel ophthalmic therapies. Its lead product candidates address presbyopia, the age-related loss of near vision, catering to global patient groups with unmet medical needs in the eye care sector.
LENZ vs MAAS — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2023
| Metric | | |
|---|---|---|
| Revenue | $12.5M | $9.9M |
| Net Profit | $-16.7M | — |
| Gross Margin | — | 78.7% |
| Operating Margin | -151.1% | -55.9% |
| Net Margin | -133.6% | — |
| Revenue YoY | — | — |
| Net Profit YoY | -63.5% | — |
| EPS (diluted) | $-0.59 | — |
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.
| Q3 25 | $12.5M | — | ||
| Q2 25 | $5.0M | — | ||
| Q3 24 | $0 | — | ||
| Q2 24 | $0 | — | ||
| Q4 22 | — | $9.9M |
| Q3 25 | $-16.7M | — | ||
| Q2 25 | $-14.9M | — | ||
| Q3 24 | $-10.2M | — | ||
| Q2 24 | $-10.3M | — | ||
| Q4 22 | — | — |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q4 22 | — | 78.7% |
| Q3 25 | -151.1% | — | ||
| Q2 25 | -337.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q4 22 | — | -55.9% |
| Q3 25 | -133.6% | — | ||
| Q2 25 | -298.2% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q4 22 | — | — |
| Q3 25 | $-0.59 | — | ||
| Q2 25 | $-0.53 | — | ||
| Q3 24 | $-0.38 | — | ||
| Q2 24 | $-0.40 | — | ||
| Q4 22 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $25.4M | $10.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $193.9M | $31.6M |
| Total Assets | $210.7M | $47.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $25.4M | — | ||
| Q2 25 | $37.6M | — | ||
| Q3 24 | $41.0M | — | ||
| Q2 24 | $84.0M | — | ||
| Q4 22 | — | $10.9M |
| Q3 25 | $193.9M | — | ||
| Q2 25 | $206.4M | — | ||
| Q3 24 | $215.3M | — | ||
| Q2 24 | $192.9M | — | ||
| Q4 22 | — | $31.6M |
| Q3 25 | $210.7M | — | ||
| Q2 25 | $217.3M | — | ||
| Q3 24 | $224.0M | — | ||
| Q2 24 | $202.6M | — | ||
| Q4 22 | — | $47.0M |
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 | $-8.6M | $-18.2M |
| Free Cash FlowOCF − Capex | $-9.0M | $-18.3M |
| FCF MarginFCF / Revenue | -72.2% | -184.4% |
| Capex IntensityCapex / Revenue | 3.5% | 1.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-47.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-8.6M | — | ||
| Q2 25 | $-11.5M | — | ||
| Q3 24 | $-10.6M | — | ||
| Q2 24 | $-15.8M | — | ||
| Q4 22 | — | $-18.2M |
| Q3 25 | $-9.0M | — | ||
| Q2 25 | $-11.7M | — | ||
| Q3 24 | $-10.8M | — | ||
| Q2 24 | $-15.9M | — | ||
| Q4 22 | — | $-18.3M |
| Q3 25 | -72.2% | — | ||
| Q2 25 | -235.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q4 22 | — | -184.4% |
| Q3 25 | 3.5% | — | ||
| Q2 25 | 4.8% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q4 22 | — | 1.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LENZ
Segment breakdown not available.
MAAS
| Wealth management | $7.8M | 78% |
| Insurance consulting | $1.0M | 10% |
| Other | $975.0K | 10% |
| Asset management | $168.0K | 2% |
