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Side-by-side financial comparison of NovaBay Pharmaceuticals, Inc. (NBY) and Solid Power, Inc. (SLDP). Click either name above to swap in a different company.
NovaBay Pharmaceuticals, Inc. is the larger business by last-quarter revenue ($4.8M vs $3.6M, roughly 1.3× Solid Power, Inc.). On growth, NovaBay Pharmaceuticals, Inc. posted the faster year-over-year revenue change (126.1% vs -18.6%). NovaBay Pharmaceuticals, Inc. produced more free cash flow last quarter ($-1.7M vs $-23.0M). Over the past eight quarters, NovaBay Pharmaceuticals, Inc.'s revenue compounded faster (42.5% CAGR vs -21.9%).
NovaBay Pharmaceuticals, Inc. is an Emeryville, California based clinical-stage biopharmaceutical company, focused on products for eye care. Major products include Avenova, cleared by FDA for lid and lash cleansing as part of a regimen for Blepharitis. and NeutroPhase, used in treatment of Necrotizing Fasciitis
Solid Energy was the largest coal mining company in New Zealand and is a state owned enterprise of the New Zealand Government.
NBY vs SLDP — Head-to-Head
Income Statement — Q4 FY2024 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.8M | $3.6M |
| Net Profit | $-1.2M | — |
| Gross Margin | 65.2% | — |
| Operating Margin | -37.2% | -730.1% |
| Net Margin | -25.5% | — |
| Revenue YoY | 126.1% | -18.6% |
| Net Profit YoY | 70.5% | — |
| EPS (diluted) | — | $-0.15 |
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 | — | $3.6M | ||
| Q3 25 | — | $3.7M | ||
| Q2 25 | — | $6.5M | ||
| Q1 25 | — | $6.0M | ||
| Q4 24 | $4.8M | $4.5M | ||
| Q3 24 | $0 | $4.7M | ||
| Q2 24 | $2.4M | $5.1M | ||
| Q1 24 | $2.6M | $6.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | $-25.9M | ||
| Q2 25 | — | $-25.3M | ||
| Q1 25 | — | $-15.2M | ||
| Q4 24 | $-1.2M | — | ||
| Q3 24 | $-1.2M | $-22.4M | ||
| Q2 24 | $-1.6M | $-22.3M | ||
| Q1 24 | $-3.2M | $-21.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 65.2% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 66.3% | — | ||
| Q1 24 | 68.2% | — |
| Q4 25 | — | -730.1% | ||
| Q3 25 | — | -654.4% | ||
| Q2 25 | — | -398.9% | ||
| Q1 25 | — | -399.4% | ||
| Q4 24 | -37.2% | -561.1% | ||
| Q3 24 | — | -593.2% | ||
| Q2 24 | -67.4% | -530.8% | ||
| Q1 24 | -87.1% | -433.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | -693.1% | ||
| Q2 25 | — | -390.7% | ||
| Q1 25 | — | -251.8% | ||
| Q4 24 | -25.5% | — | ||
| Q3 24 | — | -482.0% | ||
| Q2 24 | -66.0% | -438.9% | ||
| Q1 24 | -122.2% | -356.2% |
| Q4 25 | — | $-0.15 | ||
| Q3 25 | — | $-0.14 | ||
| Q2 25 | — | $-0.14 | ||
| Q1 25 | — | $-0.08 | ||
| Q4 24 | — | $-0.16 | ||
| Q3 24 | $-1.92 | $-0.13 | ||
| Q2 24 | $-1.37 | $-0.13 | ||
| Q1 24 | $-29.95 | $-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 | $430.0K | $250.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-129.0K | $415.7M |
| Total Assets | $3.4M | $455.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $250.8M | ||
| Q3 25 | — | $251.2M | ||
| Q2 25 | — | $230.9M | ||
| Q1 25 | — | $240.9M | ||
| Q4 24 | $430.0K | $118.2M | ||
| Q3 24 | $776.0K | $132.0M | ||
| Q2 24 | $751.0K | $140.5M | ||
| Q1 24 | $1.8M | $146.6M |
| Q4 25 | — | $415.7M | ||
| Q3 25 | — | $381.2M | ||
| Q2 25 | — | $370.6M | ||
| Q1 25 | — | $397.1M | ||
| Q4 24 | $-129.0K | $410.3M | ||
| Q3 24 | $1.1M | $439.4M | ||
| Q2 24 | $-617.0K | $456.8M | ||
| Q1 24 | $160.0K | $479.4M |
| Q4 25 | — | $455.1M | ||
| Q3 25 | — | $416.1M | ||
| Q2 25 | — | $398.0M | ||
| Q1 25 | — | $419.4M | ||
| Q4 24 | $3.4M | $448.3M | ||
| Q3 24 | $3.9M | $470.9M | ||
| Q2 24 | $3.9M | $492.6M | ||
| Q1 24 | $5.4M | $516.2M |
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 | $-1.7M | $-18.4M |
| Free Cash FlowOCF − Capex | $-1.7M | $-23.0M |
| FCF MarginFCF / Revenue | -35.4% | -633.0% |
| Capex IntensityCapex / Revenue | 0.1% | 126.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-83.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-18.4M | ||
| Q3 25 | — | $-14.3M | ||
| Q2 25 | — | $-14.4M | ||
| Q1 25 | — | $-26.3M | ||
| Q4 24 | $-1.7M | $-13.9M | ||
| Q3 24 | $-2.4M | $-9.9M | ||
| Q2 24 | $-1.4M | $-11.1M | ||
| Q1 24 | $-2.0M | $-29.1M |
| Q4 25 | — | $-23.0M | ||
| Q3 25 | — | $-14.8M | ||
| Q2 25 | — | $-17.1M | ||
| Q1 25 | — | $-28.6M | ||
| Q4 24 | $-1.7M | $-18.6M | ||
| Q3 24 | — | $-12.6M | ||
| Q2 24 | — | $-15.5M | ||
| Q1 24 | $-2.0M | $-33.1M |
| Q4 25 | — | -633.0% | ||
| Q3 25 | — | -397.6% | ||
| Q2 25 | — | -264.2% | ||
| Q1 25 | — | -476.1% | ||
| Q4 24 | -35.4% | -416.5% | ||
| Q3 24 | — | -271.5% | ||
| Q2 24 | — | -305.8% | ||
| Q1 24 | -75.3% | -556.3% |
| Q4 25 | — | 126.5% | ||
| Q3 25 | — | 15.3% | ||
| Q2 25 | — | 41.5% | ||
| Q1 25 | — | 39.1% | ||
| Q4 24 | 0.1% | 105.5% | ||
| Q3 24 | — | 59.7% | ||
| Q2 24 | 0.0% | 86.8% | ||
| Q1 24 | 0.1% | 68.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NBY
| Other | $2.4M | 51% |
| Total Product Revenue | $2.3M | 49% |
SLDP
Segment breakdown not available.
