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Side-by-side financial comparison of Metalpha Technology Holding Ltd (MATH) and Spero Therapeutics, Inc. (SPRO). Click either name above to swap in a different company.
Spero Therapeutics, Inc. is the larger business by last-quarter revenue ($12.6M vs $12.0M, roughly 1.0× Metalpha Technology Holding Ltd). Spero Therapeutics, Inc. runs the higher net margin — 250.7% vs -24.0%, a 274.7% gap on every dollar of revenue. On growth, Spero Therapeutics, Inc. posted the faster year-over-year revenue change (24080.8% vs -39.0%).
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.
MATH vs SPRO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.0M | $12.6M |
| Net Profit | $-2.9M | $31.5M |
| Gross Margin | 28.3% | — |
| Operating Margin | -24.2% | — |
| Net Margin | -24.0% | 250.7% |
| Revenue YoY | -39.0% | 24080.8% |
| Net Profit YoY | -147.7% | 250.9% |
| EPS (diluted) | $-0.07 | $0.56 |
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 | — | $12.6M | ||
| Q3 25 | $12.0M | $0 | ||
| Q2 25 | — | $0 | ||
| Q1 25 | $24.8M | $12.0K | ||
| Q4 24 | — | $52.0K | ||
| Q3 24 | $19.7M | $65.0K | ||
| Q2 24 | — | $114.0K | ||
| Q1 24 | — | $140.0K |
| Q4 25 | — | $31.5M | ||
| Q3 25 | $-2.9M | $-7.4M | ||
| Q2 25 | — | $-1.7M | ||
| Q1 25 | $9.8M | $-13.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | $6.0M | $-17.1M | ||
| Q2 24 | — | $-17.9M | ||
| Q1 24 | — | $-12.7M |
| Q4 25 | — | — | ||
| Q3 25 | 28.3% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 85.7% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 49.5% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -24.2% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 39.3% | -122758.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | 38.9% | -28604.6% | ||
| Q2 24 | — | -16720.2% | ||
| Q1 24 | — | -9987.1% |
| Q4 25 | — | 250.7% | ||
| Q3 25 | -24.0% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 39.6% | -115550.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | 30.7% | -26380.0% | ||
| Q2 24 | — | -15668.4% | ||
| Q1 24 | — | -9049.3% |
| Q4 25 | — | $0.56 | ||
| Q3 25 | $-0.07 | $-0.13 | ||
| Q2 25 | — | $-0.03 | ||
| Q1 25 | $0.25 | $-0.25 | ||
| Q4 24 | — | — | ||
| Q3 24 | $0.16 | $-0.32 | ||
| Q2 24 | — | $-0.33 | ||
| Q1 24 | — | $-0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.1M | $40.3M |
| Total DebtLower is stronger | $101.2K | — |
| Stockholders' EquityBook value | $35.1M | $59.0M |
| Total Assets | $413.8M | $68.9M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $40.3M | ||
| Q3 25 | $10.1M | $48.6M | ||
| Q2 25 | — | $31.2M | ||
| Q1 25 | $6.9M | $48.9M | ||
| Q4 24 | — | $52.9M | ||
| Q3 24 | $3.8M | $76.3M | ||
| Q2 24 | — | $63.5M | ||
| Q1 24 | — | $82.3M |
| Q4 25 | — | — | ||
| Q3 25 | $101.2K | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $188.0K | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $275.1K | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $59.0M | ||
| Q3 25 | $35.1M | $26.5M | ||
| Q2 25 | — | $32.8M | ||
| Q1 25 | $36.6M | $33.8M | ||
| Q4 24 | — | $46.1M | ||
| Q3 24 | $25.3M | $65.5M | ||
| Q2 24 | — | $80.5M | ||
| Q1 24 | — | $96.2M |
| Q4 25 | — | $68.9M | ||
| Q3 25 | $413.8M | $54.2M | ||
| Q2 25 | — | $62.1M | ||
| Q1 25 | $246.8M | $77.7M | ||
| Q4 24 | — | $110.5M | ||
| Q3 24 | $237.2M | $135.2M | ||
| Q2 24 | — | $149.9M | ||
| Q1 24 | — | $167.7M |
| 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 | $3.3M | $-8.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | -0.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-8.4M | ||
| Q3 25 | $3.3M | $17.4M | ||
| Q2 25 | — | $-17.7M | ||
| Q1 25 | $16.2M | $-4.0M | ||
| Q4 24 | — | $-23.4M | ||
| Q3 24 | $-16.1M | $12.8M | ||
| Q2 24 | — | $-18.7M | ||
| Q1 24 | — | $5.9M |
| Q4 25 | — | -0.26× | ||
| 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.
