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Side-by-side financial comparison of Lifeway Foods, Inc. (LWAY) and STEM, INC. (STEM). Click either name above to swap in a different company.
Lifeway Foods, Inc. is the larger business by last-quarter revenue ($55.4M vs $47.1M, roughly 1.2× STEM, INC.). Lifeway Foods, Inc. runs the higher net margin — 4.6% vs -33.9%, a 38.5% gap on every dollar of revenue. On growth, Lifeway Foods, Inc. posted the faster year-over-year revenue change (18.0% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs 11.4%).
Lifeway Foods is an Illinois-based health food company founded in 1986. They are a leading U.S. supplier of kefir and fermented probiotic products to support the microbiome.
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
LWAY vs STEM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $55.4M | $47.1M |
| Net Profit | $2.5M | $-16.0M |
| Gross Margin | 27.8% | 48.9% |
| Operating Margin | 6.8% | -17.7% |
| Net Margin | 4.6% | -33.9% |
| Revenue YoY | 18.0% | -15.6% |
| Net Profit YoY | 1688.1% | 68.8% |
| EPS (diluted) | $0.15 | $-4.40 |
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 | $55.4M | $47.1M | ||
| Q3 25 | $57.1M | $38.2M | ||
| Q2 25 | $53.9M | $38.4M | ||
| Q1 25 | $46.1M | $32.5M | ||
| Q4 24 | $46.9M | $55.8M | ||
| Q3 24 | $46.1M | $29.3M | ||
| Q2 24 | $49.2M | $34.0M | ||
| Q1 24 | $44.6M | $25.5M |
| Q4 25 | $2.5M | $-16.0M | ||
| Q3 25 | $3.5M | $-23.8M | ||
| Q2 25 | $4.2M | $202.5M | ||
| Q1 25 | $3.5M | $-25.0M | ||
| Q4 24 | $-160.0K | $-51.1M | ||
| Q3 24 | $3.0M | $-148.3M | ||
| Q2 24 | $3.8M | $-582.3M | ||
| Q1 24 | $2.4M | $-72.3M |
| Q4 25 | 27.8% | 48.9% | ||
| Q3 25 | 28.7% | 35.5% | ||
| Q2 25 | 28.6% | 33.4% | ||
| Q1 25 | 23.9% | 32.4% | ||
| Q4 24 | 25.3% | -4.4% | ||
| Q3 24 | 25.7% | 21.2% | ||
| Q2 24 | 27.0% | 27.6% | ||
| Q1 24 | 25.8% | -95.0% |
| Q4 25 | 6.8% | -17.7% | ||
| Q3 25 | 8.8% | -33.6% | ||
| Q2 25 | 10.8% | -34.8% | ||
| Q1 25 | 3.4% | -65.0% | ||
| Q4 24 | 1.5% | -84.4% | ||
| Q3 24 | 9.1% | -493.2% | ||
| Q2 24 | 11.0% | -1705.5% | ||
| Q1 24 | 8.0% | -267.0% |
| Q4 25 | 4.6% | -33.9% | ||
| Q3 25 | 6.2% | -62.2% | ||
| Q2 25 | 7.9% | 527.8% | ||
| Q1 25 | 7.7% | -76.9% | ||
| Q4 24 | -0.3% | -91.6% | ||
| Q3 24 | 6.5% | -506.3% | ||
| Q2 24 | 7.7% | -1712.6% | ||
| Q1 24 | 5.4% | -283.9% |
| Q4 25 | $0.15 | $-4.40 | ||
| Q3 25 | $0.23 | $-2.84 | ||
| Q2 25 | $0.28 | $-1.79 | ||
| Q1 25 | $0.23 | $-0.15 | ||
| Q4 24 | $0.00 | $-15.29 | ||
| Q3 24 | $0.19 | $-18.24 | ||
| Q2 24 | $0.25 | $-71.81 | ||
| Q1 24 | $0.16 | $-0.46 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $5.6M | $48.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $85.8M | $-249.4M |
| Total Assets | $105.6M | $308.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.6M | $48.9M | ||
| Q3 25 | $23.0M | $43.1M | ||
| Q2 25 | $21.2M | $40.8M | ||
| Q1 25 | $19.4M | $58.6M | ||
| Q4 24 | $16.7M | $56.3M | ||
| Q3 24 | $20.6M | $75.4M | ||
| Q2 24 | $14.6M | $89.6M | ||
| Q1 24 | $12.0M | $112.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $2.5M | — |
| Q4 25 | $85.8M | $-249.4M | ||
| Q3 25 | $82.8M | $-235.7M | ||
| Q2 25 | $78.7M | $-214.1M | ||
| Q1 25 | $74.2M | $-417.5M | ||
| Q4 24 | $71.9M | $-398.4M | ||
| Q3 24 | $71.5M | $-344.1M | ||
| Q2 24 | $68.0M | $-203.2M | ||
| Q1 24 | $63.5M | $371.6M |
| Q4 25 | $105.6M | $308.9M | ||
| Q3 25 | $109.5M | $362.6M | ||
| Q2 25 | $98.3M | $379.2M | ||
| Q1 25 | $93.7M | $405.1M | ||
| Q4 24 | $90.5M | $437.4M | ||
| Q3 24 | $91.3M | $537.8M | ||
| Q2 24 | $84.9M | $691.5M | ||
| Q1 24 | $82.8M | $1.3B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.04× | — |
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 | $267.0K | $8.2M |
| Free Cash FlowOCF − Capex | $-17.4M | — |
| FCF MarginFCF / Revenue | -31.5% | — |
| Capex IntensityCapex / Revenue | 31.9% | — |
| Cash ConversionOCF / Net Profit | 0.11× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-16.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $267.0K | $8.2M | ||
| Q3 25 | $6.9M | $11.4M | ||
| Q2 25 | $3.9M | $-21.3M | ||
| Q1 25 | $-150.0K | $8.5M | ||
| Q4 24 | $-2.6M | $-14.7M | ||
| Q3 24 | $7.5M | $-9.4M | ||
| Q2 24 | $6.5M | $-11.9M | ||
| Q1 24 | $1.5M | $-621.0K |
| Q4 25 | $-17.4M | — | ||
| Q3 25 | $1.8M | — | ||
| Q2 25 | $1.6M | — | ||
| Q1 25 | $-2.4M | — | ||
| Q4 24 | $-3.8M | — | ||
| Q3 24 | $5.9M | — | ||
| Q2 24 | $5.1M | — | ||
| Q1 24 | $-923.0K | — |
| Q4 25 | -31.5% | — | ||
| Q3 25 | 3.1% | — | ||
| Q2 25 | 3.0% | — | ||
| Q1 25 | -5.1% | — | ||
| Q4 24 | -8.2% | — | ||
| Q3 24 | 12.8% | — | ||
| Q2 24 | 10.4% | — | ||
| Q1 24 | -2.1% | — |
| Q4 25 | 31.9% | — | ||
| Q3 25 | 9.0% | — | ||
| Q2 25 | 4.3% | — | ||
| Q1 25 | 4.8% | — | ||
| Q4 24 | 2.7% | — | ||
| Q3 24 | 3.3% | — | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 5.5% | — |
| Q4 25 | 0.11× | — | ||
| Q3 25 | 1.96× | — | ||
| Q2 25 | 0.92× | -0.11× | ||
| Q1 25 | -0.04× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.50× | — | ||
| Q2 24 | 1.73× | — | ||
| Q1 24 | 0.64× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LWAY
| Drinkable Kefirotherthan Pro Bugs | $47.8M | 86% |
| Cheese | $4.7M | 8% |
| Cream And Other | $1.7M | 3% |
| Other | $1.2M | 2% |
STEM
Segment breakdown not available.
