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Side-by-side financial comparison of Marwynn Holdings, Inc. (MWYN) 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 $2.3M, roughly 1.1× Marwynn Holdings, Inc.). Marwynn Holdings, Inc. runs the higher net margin — -116.0% vs -895.1%, a 779.1% gap on every dollar of revenue. On growth, TScan Therapeutics, Inc. posted the faster year-over-year revenue change (286.0% vs -13.3%).
Marwynn Holdings, Inc. is a Canada-based investment holding company focused on acquiring, managing, and scaling middle-market businesses primarily across North America. Its core operating segments cover industrial products, consumer goods, and technology-enabled services, targeting sustainable long-term value creation for its stakeholders.
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.
MWYN vs TCRX — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3M | $2.6M |
| Net Profit | $-2.7M | $-23.0M |
| Gross Margin | 42.4% | — |
| Operating Margin | -115.8% | -929.4% |
| Net Margin | -116.0% | -895.1% |
| Revenue YoY | -13.3% | 286.0% |
| Net Profit YoY | -11713.9% | 35.8% |
| EPS (diluted) | $-0.16 | $-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 | — | $2.6M | ||
| Q3 25 | $2.3M | $2.5M | ||
| Q2 25 | — | $3.1M | ||
| Q1 25 | $623.7K | $2.2M | ||
| Q3 24 | — | $1.0M | ||
| Q4 23 | — | $7.2M | ||
| Q3 23 | — | $3.9M | ||
| Q2 23 | — | $3.1M |
| Q4 25 | — | $-23.0M | ||
| Q3 25 | $-2.7M | $-35.7M | ||
| Q2 25 | — | $-37.0M | ||
| Q1 25 | $23.4K | $-34.1M | ||
| Q3 24 | — | $-29.9M | ||
| Q4 23 | — | $-19.6M | ||
| Q3 23 | — | $-23.0M | ||
| Q2 23 | — | $-24.0M |
| Q4 25 | — | — | ||
| Q3 25 | 42.4% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 39.2% | — | ||
| Q3 24 | — | — | ||
| Q4 23 | — | — | ||
| Q3 23 | — | — | ||
| Q2 23 | — | — |
| Q4 25 | — | -929.4% | ||
| Q3 25 | -115.8% | -1475.6% | ||
| Q2 25 | — | -1256.6% | ||
| Q1 25 | 13.5% | -1669.7% | ||
| Q3 24 | — | -3109.8% | ||
| Q4 23 | — | -296.2% | ||
| Q3 23 | — | -636.7% | ||
| Q2 23 | — | -781.8% |
| Q4 25 | — | -895.1% | ||
| Q3 25 | -116.0% | -1422.1% | ||
| Q2 25 | — | -1201.3% | ||
| Q1 25 | 3.8% | -1571.9% | ||
| Q3 24 | — | -2849.1% | ||
| Q4 23 | — | -272.0% | ||
| Q3 23 | — | -591.6% | ||
| Q2 23 | — | -763.8% |
| Q4 25 | — | $-0.18 | ||
| Q3 25 | $-0.16 | $-0.28 | ||
| Q2 25 | — | $-0.28 | ||
| Q1 25 | $0.00 | $-0.26 | ||
| Q3 24 | — | $-0.25 | ||
| Q4 23 | — | $0.32 | ||
| Q3 23 | — | $-0.24 | ||
| Q2 23 | — | $-0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $152.4M |
| Total DebtLower is stronger | — | $32.5M |
| Stockholders' EquityBook value | $2.3M | $123.1M |
| Total Assets | $11.6M | $228.8M |
| Debt / EquityLower = less leverage | — | 0.26× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $152.4M | ||
| Q3 25 | — | $184.5M | ||
| Q2 25 | — | $218.0M | ||
| Q1 25 | $480 | $251.7M | ||
| Q3 24 | — | $271.1M | ||
| Q4 23 | — | $192.0M | ||
| Q3 23 | — | $215.4M | ||
| Q2 23 | — | $208.8M |
| Q4 25 | — | $32.5M | ||
| Q3 25 | — | $32.4M | ||
| Q2 25 | — | $32.3M | ||
| Q1 25 | — | $32.2M | ||
| Q3 24 | — | $30.6M | ||
| Q4 23 | — | $30.0M | ||
| Q3 23 | — | $29.9M | ||
| Q2 23 | — | $29.7M |
| Q4 25 | — | $123.1M | ||
| Q3 25 | $2.3M | $144.0M | ||
| Q2 25 | — | $176.7M | ||
| Q1 25 | $2.4M | $210.2M | ||
| Q3 24 | — | $229.1M | ||
| Q4 23 | — | $150.9M | ||
| Q3 23 | — | $169.0M | ||
| Q2 23 | — | $190.6M |
| Q4 25 | — | $228.8M | ||
| Q3 25 | $11.6M | $262.2M | ||
| Q2 25 | — | $298.6M | ||
| Q1 25 | $12.6M | $332.7M | ||
| Q3 24 | — | $348.0M | ||
| Q4 23 | — | $272.1M | ||
| Q3 23 | — | $291.4M | ||
| Q2 23 | — | $316.9M |
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.23× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.15× | ||
| Q3 24 | — | 0.13× | ||
| Q4 23 | — | 0.20× | ||
| Q3 23 | — | 0.18× | ||
| Q2 23 | — | 0.16× |
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 | $-95.1K | $-32.0M |
| Free Cash FlowOCF − Capex | — | $-32.2M |
| FCF MarginFCF / Revenue | — | -1253.3% |
| Capex IntensityCapex / Revenue | — | 6.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-139.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-32.0M | ||
| Q3 25 | $-95.1K | $-32.5M | ||
| Q2 25 | — | $-33.3M | ||
| Q1 25 | — | $-37.6M | ||
| Q3 24 | — | $-27.9M | ||
| Q4 23 | — | $-23.8M | ||
| Q3 23 | — | $8.0M | ||
| Q2 23 | — | $-22.0M |
| Q4 25 | — | $-32.2M | ||
| Q3 25 | — | $-33.9M | ||
| Q2 25 | — | $-34.5M | ||
| Q1 25 | — | $-39.1M | ||
| Q3 24 | — | $-29.3M | ||
| Q4 23 | — | $-24.2M | ||
| Q3 23 | — | $6.6M | ||
| Q2 23 | — | $-22.4M |
| Q4 25 | — | -1253.3% | ||
| Q3 25 | — | -1349.6% | ||
| Q2 25 | — | -1123.1% | ||
| Q1 25 | — | -1801.8% | ||
| Q3 24 | — | -2792.0% | ||
| Q4 23 | — | -336.1% | ||
| Q3 23 | — | 169.7% | ||
| Q2 23 | — | -712.9% |
| Q4 25 | — | 6.7% | ||
| Q3 25 | — | 56.8% | ||
| Q2 25 | — | 41.6% | ||
| Q1 25 | — | 70.6% | ||
| Q3 24 | — | 130.6% | ||
| Q4 23 | — | 6.5% | ||
| Q3 23 | — | 36.5% | ||
| Q2 23 | — | 13.3% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MWYN
| Other | $1.3M | 57% |
| Revenue From Recyclable Ewaste Materials Sales | $1.0M | 43% |
TCRX
Segment breakdown not available.
