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Side-by-side financial comparison of NeuroPace Inc (NPCE) and ON24 INC. (ONTF). Click either name above to swap in a different company.
ON24 INC. is the larger business by last-quarter revenue ($34.6M vs $26.6M, roughly 1.3× NeuroPace Inc). NeuroPace Inc runs the higher net margin — -10.3% vs -18.8%, a 8.5% gap on every dollar of revenue. On growth, NeuroPace Inc posted the faster year-over-year revenue change (23.9% vs -5.6%). NeuroPace Inc produced more free cash flow last quarter ($409.0K vs $-2.2M). Over the past eight quarters, NeuroPace Inc's revenue compounded faster (21.1% CAGR vs -4.2%).
NeuroPace Inc is a medical technology company focused on developing and commercializing innovative implantable neurostimulation systems to treat neurological disorders, primarily drug-resistant epilepsy. Its core RNS System delivers personalized responsive stimulation to reduce seizure frequency, serving patients across North America and select global markets via partnerships with healthcare providers.
ON24 Inc., a San Francisco-based company, is a cloud-based platform that develops and sells web-based webinar, virtual conferencing, content hub, and landing page applications as a service for marketing and sales teams in B2B organizations. In 2023 it expanded its offerings to include generative AI services.
NPCE vs ONTF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $26.6M | $34.6M |
| Net Profit | $-2.7M | $-6.5M |
| Gross Margin | 77.4% | 74.9% |
| Operating Margin | -6.6% | -23.5% |
| Net Margin | -10.3% | -18.8% |
| Revenue YoY | 23.9% | -5.6% |
| Net Profit YoY | 48.0% | 26.8% |
| EPS (diluted) | $-0.08 | $-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 | $26.6M | $34.6M | ||
| Q3 25 | $27.4M | $34.6M | ||
| Q2 25 | $23.5M | $35.3M | ||
| Q1 25 | $22.5M | $34.7M | ||
| Q4 24 | $21.5M | $36.7M | ||
| Q3 24 | $21.1M | $36.3M | ||
| Q2 24 | $19.3M | $37.3M | ||
| Q1 24 | $18.1M | $37.7M |
| Q4 25 | $-2.7M | $-6.5M | ||
| Q3 25 | $-3.5M | $-6.4M | ||
| Q2 25 | $-8.7M | $-7.3M | ||
| Q1 25 | $-6.6M | $-8.7M | ||
| Q4 24 | $-5.3M | $-8.9M | ||
| Q3 24 | $-5.5M | $-11.4M | ||
| Q2 24 | $-7.5M | $-11.2M | ||
| Q1 24 | $-8.9M | $-10.7M |
| Q4 25 | 77.4% | 74.9% | ||
| Q3 25 | 77.4% | 74.7% | ||
| Q2 25 | 77.1% | 75.1% | ||
| Q1 25 | 77.0% | 73.8% | ||
| Q4 24 | 75.4% | 74.5% | ||
| Q3 24 | 73.2% | 74.3% | ||
| Q2 24 | 73.4% | 74.5% | ||
| Q1 24 | 73.6% | 74.1% |
| Q4 25 | -6.6% | -23.5% | ||
| Q3 25 | -9.5% | -23.1% | ||
| Q2 25 | -29.0% | -26.0% | ||
| Q1 25 | -22.9% | -30.1% | ||
| Q4 24 | -17.0% | -32.1% | ||
| Q3 24 | -20.1% | -36.7% | ||
| Q2 24 | -32.4% | -35.0% | ||
| Q1 24 | -41.6% | -33.1% |
| Q4 25 | -10.3% | -18.8% | ||
| Q3 25 | -12.8% | -18.4% | ||
| Q2 25 | -36.8% | -20.6% | ||
| Q1 25 | -29.3% | -25.1% | ||
| Q4 24 | -24.5% | -24.2% | ||
| Q3 24 | -25.9% | -31.4% | ||
| Q2 24 | -39.0% | -29.9% | ||
| Q1 24 | -49.2% | -28.4% |
| Q4 25 | $-0.08 | $-0.15 | ||
| Q3 25 | $-0.11 | $-0.15 | ||
| Q2 25 | $-0.26 | $-0.17 | ||
| Q1 25 | $-0.21 | $-0.21 | ||
| Q4 24 | $-0.16 | $-0.21 | ||
| Q3 24 | $-0.19 | $-0.27 | ||
| Q2 24 | $-0.26 | $-0.27 | ||
| Q1 24 | $-0.32 | $-0.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $61.1M | $37.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $19.0M | $139.4M |
| Total Assets | $105.6M | $228.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $61.1M | $37.0M | ||
| Q3 25 | $60.0M | $47.2M | ||
| Q2 25 | $62.1M | $37.7M | ||
| Q1 25 | $66.3M | $26.8M | ||
| Q4 24 | $52.8M | $14.9M | ||
| Q3 24 | $56.8M | $11.0M | ||
| Q2 24 | $55.5M | $15.5M | ||
| Q1 24 | $58.9M | $18.3M |
| Q4 25 | $19.0M | $139.4M | ||
| Q3 25 | $18.5M | $144.3M | ||
| Q2 25 | $19.4M | $150.0M | ||
| Q1 25 | $24.3M | $153.7M | ||
| Q4 24 | $8.0M | $159.4M | ||
| Q3 24 | $9.8M | $164.9M | ||
| Q2 24 | $9.9M | $170.8M | ||
| Q1 24 | $14.3M | $174.4M |
| Q4 25 | $105.6M | $228.4M | ||
| Q3 25 | $107.3M | $224.8M | ||
| Q2 25 | $106.1M | $235.1M | ||
| Q1 25 | $110.2M | $245.8M | ||
| Q4 24 | $94.6M | $251.0M | ||
| Q3 24 | $96.3M | $250.9M | ||
| Q2 24 | $94.4M | $259.0M | ||
| Q1 24 | $98.9M | $269.2M |
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 | $506.0K | $-1.1M |
| Free Cash FlowOCF − Capex | $409.0K | $-2.2M |
| FCF MarginFCF / Revenue | 1.5% | -6.4% |
| Capex IntensityCapex / Revenue | 0.4% | 3.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-11.3M | $4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $506.0K | $-1.1M | ||
| Q3 25 | $-1.9M | $2.5M | ||
| Q2 25 | $-2.1M | $2.6M | ||
| Q1 25 | $-7.5M | $3.4M | ||
| Q4 24 | $-4.8M | $985.0K | ||
| Q3 24 | $-1.7M | $295.0K | ||
| Q2 24 | $-3.9M | $1.4M | ||
| Q1 24 | $-7.5M | $2.1M |
| Q4 25 | $409.0K | $-2.2M | ||
| Q3 25 | $-2.0M | $2.2M | ||
| Q2 25 | $-2.3M | $2.1M | ||
| Q1 25 | $-7.5M | $1.9M | ||
| Q4 24 | $-4.8M | $424.0K | ||
| Q3 24 | $-1.8M | $143.0K | ||
| Q2 24 | $-4.0M | $898.0K | ||
| Q1 24 | $-7.6M | $1.1M |
| Q4 25 | 1.5% | -6.4% | ||
| Q3 25 | -7.2% | 6.2% | ||
| Q2 25 | -9.6% | 5.9% | ||
| Q1 25 | -33.4% | 5.6% | ||
| Q4 24 | -22.5% | 1.2% | ||
| Q3 24 | -8.7% | 0.4% | ||
| Q2 24 | -20.6% | 2.4% | ||
| Q1 24 | -42.1% | 2.9% |
| Q4 25 | 0.4% | 3.3% | ||
| Q3 25 | 0.1% | 1.1% | ||
| Q2 25 | 0.7% | 1.4% | ||
| Q1 25 | 0.2% | 4.2% | ||
| Q4 24 | 0.2% | 1.5% | ||
| Q3 24 | 0.5% | 0.4% | ||
| Q2 24 | 0.3% | 1.3% | ||
| Q1 24 | 0.6% | 2.8% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
