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Side-by-side financial comparison of EMERSON RADIO CORP (MSN) and TScan Therapeutics, Inc. (TCRX). Click either name above to swap in a different company.
TScan Therapeutics, Inc. is the larger business by last-quarter revenue ($2.6M vs $1.9M, roughly 1.4× EMERSON RADIO CORP). EMERSON RADIO CORP runs the higher net margin — -36.7% vs -895.1%, a 858.4% gap on every dollar of revenue. On growth, TScan Therapeutics, Inc. posted the faster year-over-year revenue change (286.0% vs -52.8%). Over the past eight quarters, EMERSON RADIO CORP's revenue compounded faster (-7.3% CAGR vs -9.7%).
Emerson Radio Corporation is one of the United States' largest volume consumer electronics distributors and has a recognized trademark in continuous use since 1912. The company designs, markets, and licenses many product lines worldwide, including products sold, and sometimes licensed, under the brand name G Clef, an homage to Emerson's logo.
TScan Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel T cell receptor (TCR) immunotherapies for hard-to-treat cancers. Its proprietary platform identifies high-affinity naturally occurring TCRs targeting tumor antigens, with pipeline candidates spanning hematological malignancies and solid tumors, operating in the global oncology therapeutics market.
MSN vs TCRX — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.9M | $2.6M |
| Net Profit | $-694.0K | $-23.0M |
| Gross Margin | 10.9% | — |
| Operating Margin | -43.7% | -929.4% |
| Net Margin | -36.7% | -895.1% |
| Revenue YoY | -52.8% | 286.0% |
| Net Profit YoY | -31.7% | 35.8% |
| EPS (diluted) | $-0.03 | $-0.18 |
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 | $1.9M | $2.6M | ||
| Q3 25 | $1.2M | $2.5M | ||
| Q2 25 | $1.7M | $3.1M | ||
| Q1 25 | $1.8M | $2.2M | ||
| Q4 24 | $4.0M | — | ||
| Q3 24 | $2.7M | $1.0M | ||
| Q2 24 | $2.2M | — | ||
| Q1 24 | $2.2M | — |
| Q4 25 | $-694.0K | $-23.0M | ||
| Q3 25 | $-1.0M | $-35.7M | ||
| Q2 25 | $-1.1M | $-37.0M | ||
| Q1 25 | $-2.4M | $-34.1M | ||
| Q4 24 | $-527.0K | — | ||
| Q3 24 | $-881.0K | $-29.9M | ||
| Q2 24 | $-962.0K | — | ||
| Q1 24 | $-883.0K | — |
| Q4 25 | 10.9% | — | ||
| Q3 25 | -0.1% | — | ||
| Q2 25 | 0.7% | — | ||
| Q1 25 | -3.0% | — | ||
| Q4 24 | 12.3% | — | ||
| Q3 24 | 9.9% | — | ||
| Q2 24 | 8.8% | — | ||
| Q1 24 | 15.9% | — |
| Q4 25 | -43.7% | -929.4% | ||
| Q3 25 | -98.4% | -1475.6% | ||
| Q2 25 | -78.1% | -1256.6% | ||
| Q1 25 | -137.8% | -1669.7% | ||
| Q4 24 | -18.3% | — | ||
| Q3 24 | -40.8% | -3109.8% | ||
| Q2 24 | -55.6% | — | ||
| Q1 24 | -52.2% | — |
| Q4 25 | -36.7% | -895.1% | ||
| Q3 25 | -85.8% | -1422.1% | ||
| Q2 25 | -68.1% | -1201.3% | ||
| Q1 25 | -127.9% | -1571.9% | ||
| Q4 24 | -13.2% | — | ||
| Q3 24 | -32.2% | -2849.1% | ||
| Q2 24 | -43.8% | — | ||
| Q1 24 | -40.1% | — |
| Q4 25 | $-0.03 | $-0.18 | ||
| Q3 25 | $-0.05 | $-0.28 | ||
| Q2 25 | $-0.05 | $-0.28 | ||
| Q1 25 | $-0.10 | $-0.26 | ||
| Q4 24 | $-0.03 | — | ||
| Q3 24 | $-0.04 | $-0.25 | ||
| Q2 24 | $-0.05 | — | ||
| Q1 24 | $-0.04 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $13.3M | $152.4M |
| Total DebtLower is stronger | — | $32.5M |
| Stockholders' EquityBook value | $18.6M | $123.1M |
| Total Assets | $20.1M | $228.8M |
| Debt / EquityLower = less leverage | — | 0.26× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.3M | $152.4M | ||
| Q3 25 | $13.5M | $184.5M | ||
| Q2 25 | $15.5M | $218.0M | ||
| Q1 25 | $16.1M | $251.7M | ||
| Q4 24 | $16.4M | — | ||
| Q3 24 | $16.7M | $271.1M | ||
| Q2 24 | $18.9M | — | ||
| Q1 24 | $19.9M | — |
| Q4 25 | — | $32.5M | ||
| Q3 25 | — | $32.4M | ||
| Q2 25 | — | $32.3M | ||
| Q1 25 | — | $32.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $30.6M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $18.6M | $123.1M | ||
| Q3 25 | $19.3M | $144.0M | ||
| Q2 25 | $20.4M | $176.7M | ||
| Q1 25 | $21.5M | $210.2M | ||
| Q4 24 | $23.9M | — | ||
| Q3 24 | $24.4M | $229.1M | ||
| Q2 24 | $25.3M | — | ||
| Q1 24 | $26.2M | — |
| Q4 25 | $20.1M | $228.8M | ||
| Q3 25 | $20.7M | $262.2M | ||
| Q2 25 | $23.3M | $298.6M | ||
| Q1 25 | $23.5M | $332.7M | ||
| Q4 24 | $26.4M | — | ||
| Q3 24 | $26.6M | $348.0M | ||
| Q2 24 | $28.5M | — | ||
| Q1 24 | $29.1M | — |
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.23× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.13× | ||
| 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 | $-228.0K | $-32.0M |
| Free Cash FlowOCF − Capex | — | $-32.2M |
| FCF MarginFCF / Revenue | — | -1253.3% |
| Capex IntensityCapex / Revenue | 0.0% | 6.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-139.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-228.0K | $-32.0M | ||
| Q3 25 | $-2.0M | $-32.5M | ||
| Q2 25 | $-514.0K | $-33.3M | ||
| Q1 25 | $-391.0K | $-37.6M | ||
| Q4 24 | $-293.0K | — | ||
| Q3 24 | $-2.1M | $-27.9M | ||
| Q2 24 | $-840.0K | — | ||
| Q1 24 | $-2.2M | — |
| Q4 25 | — | $-32.2M | ||
| Q3 25 | — | $-33.9M | ||
| Q2 25 | — | $-34.5M | ||
| Q1 25 | — | $-39.1M | ||
| Q4 24 | $-301.0K | — | ||
| Q3 24 | $-2.1M | $-29.3M | ||
| Q2 24 | $-1.0M | — | ||
| Q1 24 | $-2.3M | — |
| Q4 25 | — | -1253.3% | ||
| Q3 25 | — | -1349.6% | ||
| Q2 25 | — | -1123.1% | ||
| Q1 25 | — | -1801.8% | ||
| Q4 24 | -7.5% | — | ||
| Q3 24 | -77.8% | -2792.0% | ||
| Q2 24 | -46.4% | — | ||
| Q1 24 | -102.3% | — |
| Q4 25 | 0.0% | 6.7% | ||
| Q3 25 | 0.0% | 56.8% | ||
| Q2 25 | 0.0% | 41.6% | ||
| Q1 25 | 0.0% | 70.6% | ||
| Q4 24 | 0.2% | — | ||
| Q3 24 | 0.3% | 130.6% | ||
| Q2 24 | 8.2% | — | ||
| Q1 24 | 0.5% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MSN
| Products | $1.8M | 95% |
| Other | $87.0K | 5% |
TCRX
Segment breakdown not available.
