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Side-by-side financial comparison of NovaBay Pharmaceuticals, Inc. (NBY) and Velo3D, Inc. (VELO). Click either name above to swap in a different company.
Velo3D, Inc. is the larger business by last-quarter revenue ($9.4M vs $4.8M, roughly 2.0× NovaBay Pharmaceuticals, Inc.). NovaBay Pharmaceuticals, Inc. runs the higher net margin — -25.5% vs -231.9%, a 206.4% gap on every dollar of revenue. On growth, NovaBay Pharmaceuticals, Inc. posted the faster year-over-year revenue change (126.1% vs -25.2%). NovaBay Pharmaceuticals, Inc. produced more free cash flow last quarter ($-1.7M vs $-8.3M). Over the past eight quarters, NovaBay Pharmaceuticals, Inc.'s revenue compounded faster (42.5% CAGR vs -1.8%).
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
Velo3D, Inc. develops and sells advanced end-to-end metal additive manufacturing (3D printing) solutions, comprising industrial-grade printers, specialized processing software, and high-performance metal materials. It primarily serves global aerospace, defense, energy, semiconductor and industrial manufacturing markets, enabling customers to produce complex, high-precision metal parts that are difficult to manufacture with traditional methods.
NBY vs VELO — Head-to-Head
Income Statement — Q4 FY2024 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.8M | $9.4M |
| Net Profit | $-1.2M | $-21.9M |
| Gross Margin | 65.2% | -73.6% |
| Operating Margin | -37.2% | -231.0% |
| Net Margin | -25.5% | -231.9% |
| Revenue YoY | 126.1% | -25.2% |
| Net Profit YoY | 70.5% | -2.9% |
| EPS (diluted) | — | $-0.87 |
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 | — | $9.4M | ||
| Q3 25 | — | $13.6M | ||
| Q2 25 | — | $13.6M | ||
| Q1 25 | — | $9.3M | ||
| Q4 24 | $4.8M | $12.6M | ||
| Q3 24 | $0 | $8.2M | ||
| Q2 24 | $2.4M | $10.3M | ||
| Q1 24 | $2.6M | $9.8M |
| Q4 25 | — | $-21.9M | ||
| Q3 25 | — | $-11.2M | ||
| Q2 25 | — | $-13.3M | ||
| Q1 25 | — | $-25.0M | ||
| Q4 24 | $-1.2M | $-21.3M | ||
| Q3 24 | $-1.2M | $-21.9M | ||
| Q2 24 | $-1.6M | $935.0K | ||
| Q1 24 | $-3.2M | $-27.5M |
| Q4 25 | — | -73.6% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | -11.7% | ||
| Q1 25 | — | 7.5% | ||
| Q4 24 | 65.2% | -3.5% | ||
| Q3 24 | — | 49.4% | ||
| Q2 24 | 66.3% | -28.0% | ||
| Q1 24 | 68.2% | -28.8% |
| Q4 25 | — | -231.0% | ||
| Q3 25 | — | -73.3% | ||
| Q2 25 | — | -85.4% | ||
| Q1 25 | — | -123.6% | ||
| Q4 24 | -37.2% | -167.0% | ||
| Q3 24 | — | -213.8% | ||
| Q2 24 | -67.4% | -187.7% | ||
| Q1 24 | -87.1% | -211.1% |
| Q4 25 | — | -231.9% | ||
| Q3 25 | — | -82.0% | ||
| Q2 25 | — | -97.7% | ||
| Q1 25 | — | -268.4% | ||
| Q4 24 | -25.5% | -168.5% | ||
| Q3 24 | — | -265.3% | ||
| Q2 24 | -66.0% | 9.0% | ||
| Q1 24 | -122.2% | -281.2% |
| Q4 25 | — | $-0.87 | ||
| Q3 25 | — | $-0.65 | ||
| Q2 25 | — | $-0.94 | ||
| Q1 25 | — | $-1.87 | ||
| Q4 24 | — | $7.06 | ||
| Q3 24 | $-1.92 | $-35.52 | ||
| Q2 24 | $-1.37 | $1.65 | ||
| Q1 24 | $-29.95 | $-55.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $430.0K | $39.0M |
| Total DebtLower is stronger | — | $31.0M |
| Stockholders' EquityBook value | $-129.0K | $38.2M |
| Total Assets | $3.4M | $105.3M |
| Debt / EquityLower = less leverage | — | 0.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $39.0M | ||
| Q3 25 | — | $11.8M | ||
| Q2 25 | — | $854.0K | ||
| Q1 25 | — | $3.9M | ||
| Q4 24 | $430.0K | $1.2M | ||
| Q3 24 | $776.0K | $1.6M | ||
| Q2 24 | $751.0K | $3.2M | ||
| Q1 24 | $1.8M | $10.9M |
| Q4 25 | — | $31.0M | ||
| Q3 25 | — | $23.0M | ||
| Q2 25 | — | $22.5M | ||
| Q1 25 | — | $21.7M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $32.3M | ||
| Q2 24 | — | $33.5M | ||
| Q1 24 | — | $44.0M |
| Q4 25 | — | $38.2M | ||
| Q3 25 | — | $29.9M | ||
| Q2 25 | — | $21.4M | ||
| Q1 25 | — | $32.8M | ||
| Q4 24 | $-129.0K | $39.7M | ||
| Q3 24 | $1.1M | $34.4M | ||
| Q2 24 | $-617.0K | $52.1M | ||
| Q1 24 | $160.0K | $45.5M |
| Q4 25 | — | $105.3M | ||
| Q3 25 | — | $93.7M | ||
| Q2 25 | — | $78.4M | ||
| Q1 25 | — | $91.3M | ||
| Q4 24 | $3.4M | $89.2M | ||
| Q3 24 | $3.9M | $110.8M | ||
| Q2 24 | $3.9M | $116.7M | ||
| Q1 24 | $5.4M | $136.1M |
| Q4 25 | — | 0.81× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.97× |
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 | $-7.7M |
| Free Cash FlowOCF − Capex | $-1.7M | $-8.3M |
| FCF MarginFCF / Revenue | -35.4% | -88.3% |
| Capex IntensityCapex / Revenue | 0.1% | 6.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-7.7M | ||
| Q3 25 | — | $-6.0M | ||
| Q2 25 | — | $-1.2M | ||
| Q1 25 | — | $-12.3M | ||
| Q4 24 | $-1.7M | $-2.2M | ||
| Q3 24 | $-2.4M | $-2.0M | ||
| Q2 24 | $-1.4M | $-8.0M | ||
| Q1 24 | $-2.0M | $-20.5M |
| Q4 25 | — | $-8.3M | ||
| Q3 25 | — | $-6.3M | ||
| Q2 25 | — | $-3.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | $-1.7M | $-2.2M | ||
| Q3 24 | — | $-2.0M | ||
| Q2 24 | — | $-8.0M | ||
| Q1 24 | $-2.0M | $-20.5M |
| Q4 25 | — | -88.3% | ||
| Q3 25 | — | -46.5% | ||
| Q2 25 | — | -22.2% | ||
| Q1 25 | — | — | ||
| Q4 24 | -35.4% | -17.7% | ||
| Q3 24 | — | -24.2% | ||
| Q2 24 | — | -77.1% | ||
| Q1 24 | -75.3% | -209.8% |
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | 13.3% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | 0.1% | 0.2% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | 0.0% | 0.0% | ||
| Q1 24 | 0.1% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -8.52× | ||
| Q1 24 | — | — |
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% |
VELO
Segment breakdown not available.
