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Side-by-side financial comparison of Lucid Diagnostics Inc. (LUCD) and XMax Inc. (XWIN). Click either name above to swap in a different company.

XMax Inc. is the larger business by last-quarter revenue ($1.8M vs $1.2M, roughly 1.5× Lucid Diagnostics Inc.). On growth, Lucid Diagnostics Inc. posted the faster year-over-year revenue change (3.3% vs -11.8%). Over the past eight quarters, Lucid Diagnostics Inc.'s revenue compounded faster (7.9% CAGR vs -13.7%).

Lucid Diagnostics Inc. is a commercial-stage medical diagnostics firm focused on non-invasive screening tests for upper gastrointestinal diseases, including early detection of esophageal cancer and pre-cancerous lesions. It mainly serves healthcare providers and clinical partners across the United States, targeting at-risk patient populations.

XMax Inc. is a global tech firm focused on Web3 gaming infrastructure and interactive entertainment solutions. It builds custom game development toolkits, decentralized asset systems and cross-platform gaming products for developers and consumers in North America, APAC and Europe.

LUCD vs XWIN — Head-to-Head

Bigger by revenue
XWIN
XWIN
1.5× larger
XWIN
$1.8M
$1.2M
LUCD
Growing faster (revenue YoY)
LUCD
LUCD
+15.1% gap
LUCD
3.3%
-11.8%
XWIN
Faster 2-yr revenue CAGR
LUCD
LUCD
Annualised
LUCD
7.9%
-13.7%
XWIN

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
LUCD
LUCD
XWIN
XWIN
Revenue
$1.2M
$1.8M
Net Profit
$-10.4M
Gross Margin
40.3%
Operating Margin
-971.0%
-59.3%
Net Margin
-858.5%
Revenue YoY
3.3%
-11.8%
Net Profit YoY
16.0%
EPS (diluted)
$-0.10
$-0.06

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.

Revenue
LUCD
LUCD
XWIN
XWIN
Q4 25
$1.8M
Q3 25
$1.2M
$9.8M
Q2 25
$1.2M
$2.6M
Q1 25
$828.0K
$2.6M
Q4 24
$1.2M
$2.0M
Q3 24
$1.2M
$2.6M
Q2 24
$976.0K
$2.7M
Q1 24
$1.0M
$2.4M
Net Profit
LUCD
LUCD
XWIN
XWIN
Q4 25
Q3 25
$-10.4M
$-1.1M
Q2 25
$-4.4M
$-289.9K
Q1 25
$-26.9M
$-338.9K
Q4 24
$-11.5M
Q3 24
$-12.4M
$-2.5M
Q2 24
$-11.0M
$-563.5K
Q1 24
$-10.6M
$-1.5M
Gross Margin
LUCD
LUCD
XWIN
XWIN
Q4 25
40.3%
Q3 25
10.1%
Q2 25
50.2%
Q1 25
45.7%
Q4 24
42.8%
Q3 24
45.1%
Q2 24
44.4%
Q1 24
42.8%
Operating Margin
LUCD
LUCD
XWIN
XWIN
Q4 25
-59.3%
Q3 25
-971.0%
-5.0%
Q2 25
-978.8%
-7.7%
Q1 25
-1508.1%
-7.3%
Q4 24
-1033.8%
-48.4%
Q3 24
-997.8%
-92.0%
Q2 24
-1146.7%
-18.5%
Q1 24
-1078.1%
-62.6%
Net Margin
LUCD
LUCD
XWIN
XWIN
Q4 25
Q3 25
-858.5%
-11.5%
Q2 25
-381.7%
-11.3%
Q1 25
-3249.8%
-12.9%
Q4 24
-964.2%
Q3 24
-1055.5%
-94.3%
Q2 24
-1127.6%
-21.0%
Q1 24
-1060.1%
-61.6%
EPS (diluted)
LUCD
LUCD
XWIN
XWIN
Q4 25
$-0.06
Q3 25
$-0.10
$-0.06
Q2 25
$-0.08
$-0.02
Q1 25
$-0.52
$-0.03
Q4 24
$-0.17
$0.11
Q3 24
$-0.25
$-0.72
Q2 24
$-0.23
$-0.22
Q1 24
$-0.40
$-0.65

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
LUCD
LUCD
XWIN
XWIN
Cash + ST InvestmentsLiquidity on hand
$47.3M
$6.7M
Total DebtLower is stronger
Stockholders' EquityBook value
$25.8M
$28.0M
Total Assets
$53.2M
$35.5M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
LUCD
LUCD
XWIN
XWIN
Q4 25
$6.7M
Q3 25
$47.3M
$1.7M
Q2 25
$31.1M
$468.8K
Q1 25
$25.2M
$147.3K
Q4 24
$22.4M
$161.9K
Q3 24
$14.5M
$162.3K
Q2 24
$24.9M
$363.4K
Q1 24
$24.8M
$273.1K
Stockholders' Equity
LUCD
LUCD
XWIN
XWIN
Q4 25
$28.0M
Q3 25
$25.8M
$13.6M
Q2 25
$7.9M
$6.5M
Q1 25
$-5.4M
$6.8M
Q4 24
$5.4M
$3.1M
Q3 24
$6.3M
$-895.9K
Q2 24
$16.0M
$48.2K
Q1 24
$11.9M
$-42.7K
Total Assets
LUCD
LUCD
XWIN
XWIN
Q4 25
$35.5M
Q3 25
$53.2M
$18.3M
Q2 25
$38.7M
$11.6M
Q1 25
$32.8M
$11.9M
Q4 24
$30.7M
$9.9M
Q3 24
$22.6M
$5.1M
Q2 24
$34.1M
$5.8M
Q1 24
$32.0M
$6.2M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
LUCD
LUCD
XWIN
XWIN
Operating Cash FlowLast quarter
$-10.9M
$1.7M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
LUCD
LUCD
XWIN
XWIN
Q4 25
$1.7M
Q3 25
$-10.9M
$-1.9M
Q2 25
$-10.5M
$92.5K
Q1 25
$-12.5M
$-322.6K
Q4 24
$-9.9M
$-263.4K
Q3 24
$-10.2M
$-437.9K
Q2 24
$-11.5M
$-468.7K
Q1 24
$-12.6M
$-221.7K

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

LUCD
LUCD

Segment breakdown not available.

XWIN
XWIN

North America$1.7M97%
Other$50.4K3%

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