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Side-by-side financial comparison of Nano Labs Ltd (NA) and SES AI Corp (SES). Click either name above to swap in a different company.
SES AI Corp is the larger business by last-quarter revenue ($4.6M vs $2.7M, roughly 1.7× Nano Labs Ltd). Nano Labs Ltd runs the higher net margin — 754.5% vs -373.5%, a 1127.9% gap on every dollar of revenue. Nano Labs Ltd produced more free cash flow last quarter ($-8.4M vs $-11.1M).
Weebit Nano is a public semiconductor IP company founded in Israel in 2015 and headquartered in Hod HaSharon, Israel. The company develops Resistive Random-Access Memory technologies. Resistive Random-Access Memory is a specialized form of non-volatile memory (NVM) for the semiconductor industry. The company's products are targeted at a broad range of NVM markets where persistence, performance, and endurance are all required. ReRAM technology can be integrated in electronic devices like weara...
SES S.A. is a Luxembourgish communications satellite operator supplying video and data connectivity worldwide to broadcasters, content and internet service providers, mobile and fixed network operators, governments and institutions.
NA vs SES — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.7M | $4.6M |
| Net Profit | $20.3M | $-17.0M |
| Gross Margin | — | 11.3% |
| Operating Margin | — | -387.7% |
| Net Margin | 754.5% | -373.5% |
| Revenue YoY | — | — |
| Net Profit YoY | — | 50.7% |
| EPS (diluted) | $1.03 | $-0.05 |
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 | $2.7M | $4.6M | ||
| Q3 25 | — | $7.1M | ||
| Q2 25 | $1.2M | $3.5M | ||
| Q1 25 | — | $5.8M | ||
| Q2 24 | $3.5M | — |
| Q4 25 | $20.3M | $-17.0M | ||
| Q3 25 | — | $-20.9M | ||
| Q2 25 | $-985.5K | $-22.7M | ||
| Q1 25 | — | $-12.4M | ||
| Q2 24 | $-8.0M | — |
| Q4 25 | — | 11.3% | ||
| Q3 25 | — | 51.1% | ||
| Q2 25 | — | 73.7% | ||
| Q1 25 | — | 78.7% | ||
| Q2 24 | 0.1% | — |
| Q4 25 | — | -387.7% | ||
| Q3 25 | — | -262.0% | ||
| Q2 25 | -459.2% | -652.3% | ||
| Q1 25 | — | -401.7% | ||
| Q2 24 | -237.2% | — |
| Q4 25 | 754.5% | -373.5% | ||
| Q3 25 | — | -293.9% | ||
| Q2 25 | -85.2% | -642.2% | ||
| Q1 25 | — | -214.6% | ||
| Q2 24 | -231.3% | — |
| Q4 25 | $1.03 | $-0.05 | ||
| Q3 25 | — | $-0.06 | ||
| Q2 25 | $-0.06 | $-0.07 | ||
| Q1 25 | — | $-0.04 | ||
| Q2 24 | $-0.12 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.9M | $29.5M |
| Total DebtLower is stronger | $24.5M | — |
| Stockholders' EquityBook value | $106.5M | $214.8M |
| Total Assets | $159.3M | $272.6M |
| Debt / EquityLower = less leverage | 0.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $29.5M | ||
| Q3 25 | — | $35.3M | ||
| Q2 25 | $50.8M | $11.8M | ||
| Q1 25 | — | $56.1M | ||
| Q2 24 | $3.3M | — |
| Q4 25 | $24.5M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | $24.8M | — | ||
| Q1 25 | — | — | ||
| Q2 24 | $22.5M | — |
| Q4 25 | $106.5M | $214.8M | ||
| Q3 25 | — | $228.2M | ||
| Q2 25 | $86.8M | $249.2M | ||
| Q1 25 | — | $269.9M | ||
| Q2 24 | $-5.1M | — |
| Q4 25 | $159.3M | $272.6M | ||
| Q3 25 | — | $288.8M | ||
| Q2 25 | $206.4M | $290.5M | ||
| Q1 25 | — | $306.0M | ||
| Q2 24 | $51.2M | — |
| Q4 25 | 0.23× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.29× | — | ||
| Q1 25 | — | — | ||
| Q2 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 | $-8.3M | $-10.4M |
| Free Cash FlowOCF − Capex | $-8.4M | $-11.1M |
| FCF MarginFCF / Revenue | -312.3% | -243.7% |
| Capex IntensityCapex / Revenue | 2.9% | 15.6% |
| Cash ConversionOCF / Net Profit | -0.41× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-61.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-8.3M | $-10.4M | ||
| Q3 25 | — | $-14.3M | ||
| Q2 25 | $-7.1M | $-10.8M | ||
| Q1 25 | — | $-22.8M | ||
| Q2 24 | $-10.8M | — |
| Q4 25 | $-8.4M | $-11.1M | ||
| Q3 25 | — | $-14.7M | ||
| Q2 25 | $-7.2M | $-11.6M | ||
| Q1 25 | — | $-23.7M | ||
| Q2 24 | $-15.4M | — |
| Q4 25 | -312.3% | -243.7% | ||
| Q3 25 | — | -206.9% | ||
| Q2 25 | -620.3% | -329.6% | ||
| Q1 25 | — | -410.0% | ||
| Q2 24 | -443.4% | — |
| Q4 25 | 2.9% | 15.6% | ||
| Q3 25 | — | 6.0% | ||
| Q2 25 | 7.2% | 22.8% | ||
| Q1 25 | — | 15.8% | ||
| Q2 24 | 133.1% | — |
| Q4 25 | -0.41× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
