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Side-by-side financial comparison of PUMA BIOTECHNOLOGY, INC. (PBYI) and System1, Inc. (SST). Click either name above to swap in a different company.
PUMA BIOTECHNOLOGY, INC. is the larger business by last-quarter revenue ($75.5M vs $51.9M, roughly 1.5× System1, Inc.). On growth, PUMA BIOTECHNOLOGY, INC. posted the faster year-over-year revenue change (27.7% vs -31.3%). Over the past eight quarters, PUMA BIOTECHNOLOGY, INC.'s revenue compounded faster (31.3% CAGR vs -21.8%).
Puma Biotechnology is a publicly traded biopharmaceutical company headquartered in Los Angeles, CA.
System1 is an American Internet advertising company. Formerly known as OpenMail, it was founded in 2013. It describes itself as operating a "Responsive Acquisition Marketing Platform", and cites privacy as one of its principal foci, although it has been criticized for its influence on privacy-focused properties, including search engine Startpage.com. It is headquartered in Marina del Rey, California.
PBYI vs SST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.5M | $51.9M |
| Net Profit | — | $-13.5M |
| Gross Margin | 69.3% | 41.0% |
| Operating Margin | 22.7% | -33.6% |
| Net Margin | — | -26.0% |
| Revenue YoY | 27.7% | -31.3% |
| Net Profit YoY | — | 4.8% |
| EPS (diluted) | $0.26 | $-3.58 |
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 | $75.5M | $51.9M | ||
| Q3 25 | $54.5M | $61.6M | ||
| Q2 25 | $52.4M | $78.1M | ||
| Q1 25 | $46.0M | $74.5M | ||
| Q4 24 | $59.1M | $75.6M | ||
| Q3 24 | $80.5M | $88.8M | ||
| Q2 24 | $47.1M | $94.6M | ||
| Q1 24 | $43.8M | $84.9M |
| Q4 25 | — | $-13.5M | ||
| Q3 25 | $8.8M | $-18.5M | ||
| Q2 25 | $5.9M | $-17.5M | ||
| Q1 25 | $3.0M | $-15.9M | ||
| Q4 24 | — | $-14.2M | ||
| Q3 24 | $20.3M | $-23.6M | ||
| Q2 24 | $-4.5M | $-26.4M | ||
| Q1 24 | $-4.8M | $-10.5M |
| Q4 25 | 69.3% | 41.0% | ||
| Q3 25 | 77.7% | 36.9% | ||
| Q2 25 | 76.5% | 35.7% | ||
| Q1 25 | 77.1% | 38.2% | ||
| Q4 24 | 76.4% | 42.1% | ||
| Q3 24 | 63.9% | 28.0% | ||
| Q2 24 | 77.4% | 27.6% | ||
| Q1 24 | 75.5% | 21.9% |
| Q4 25 | 22.7% | -33.6% | ||
| Q3 25 | 17.6% | -25.3% | ||
| Q2 25 | 12.7% | -20.4% | ||
| Q1 25 | 8.7% | -17.6% | ||
| Q4 24 | 22.6% | -15.7% | ||
| Q3 24 | 27.4% | -24.6% | ||
| Q2 24 | -4.6% | -30.8% | ||
| Q1 24 | -5.3% | -30.4% |
| Q4 25 | — | -26.0% | ||
| Q3 25 | 16.2% | -30.1% | ||
| Q2 25 | 11.2% | -22.4% | ||
| Q1 25 | 6.5% | -21.3% | ||
| Q4 24 | — | -18.7% | ||
| Q3 24 | 25.2% | -26.6% | ||
| Q2 24 | -9.6% | -27.9% | ||
| Q1 24 | -11.0% | -12.4% |
| Q4 25 | $0.26 | $-3.58 | ||
| Q3 25 | $0.17 | $-2.30 | ||
| Q2 25 | $0.12 | $-2.23 | ||
| Q1 25 | $0.06 | $-0.21 | ||
| Q4 24 | $0.40 | $-3.41 | ||
| Q3 24 | $0.41 | $-3.37 | ||
| Q2 24 | $-0.09 | $-3.80 | ||
| Q1 24 | $-0.10 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $97.5M | $86.9M |
| Total DebtLower is stronger | $22.7M | $305.1M |
| Stockholders' EquityBook value | $130.3M | $30.5M |
| Total Assets | $216.3M | $405.0M |
| Debt / EquityLower = less leverage | 0.17× | 10.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $97.5M | $86.9M | ||
| Q3 25 | $94.4M | $54.6M | ||
| Q2 25 | $96.0M | $63.6M | ||
| Q1 25 | $93.2M | $43.9M | ||
| Q4 24 | $101.0M | $63.6M | ||
| Q3 24 | $96.7M | $69.1M | ||
| Q2 24 | $96.8M | $75.7M | ||
| Q1 24 | $107.2M | $69.9M |
| Q4 25 | $22.7M | $305.1M | ||
| Q3 25 | $34.0M | $259.2M | ||
| Q2 25 | $45.3M | $263.3M | ||
| Q1 25 | $56.7M | $267.4M | ||
| Q4 24 | $68.0M | $255.1M | ||
| Q3 24 | $79.3M | $259.2M | ||
| Q2 24 | $90.7M | $263.3M | ||
| Q1 24 | $102.0M | $268.6M |
| Q4 25 | $130.3M | $30.5M | ||
| Q3 25 | $115.3M | $42.7M | ||
| Q2 25 | $104.7M | $58.2M | ||
| Q1 25 | $97.1M | $67.2M | ||
| Q4 24 | $92.1M | $80.3M | ||
| Q3 24 | $71.1M | $90.3M | ||
| Q2 24 | $48.5M | $109.4M | ||
| Q1 24 | $51.0M | $131.7M |
| Q4 25 | $216.3M | $405.0M | ||
| Q3 25 | $202.9M | $385.2M | ||
| Q2 25 | $194.9M | $429.2M | ||
| Q1 25 | $196.2M | $419.2M | ||
| Q4 24 | $213.3M | $459.1M | ||
| Q3 24 | $220.7M | $479.3M | ||
| Q2 24 | $205.0M | $511.3M | ||
| Q1 24 | $214.1M | $521.1M |
| Q4 25 | 0.17× | 10.01× | ||
| Q3 25 | 0.30× | 6.07× | ||
| Q2 25 | 0.43× | 4.53× | ||
| Q1 25 | 0.58× | 3.98× | ||
| Q4 24 | 0.74× | 3.18× | ||
| Q3 24 | 1.12× | 2.87× | ||
| Q2 24 | 1.87× | 2.41× | ||
| Q1 24 | 2.00× | 2.04× |
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 | $14.4M | $-10.6M |
| Free Cash FlowOCF − Capex | $14.4M | — |
| FCF MarginFCF / Revenue | 19.1% | — |
| Capex IntensityCapex / Revenue | 0.0% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $41.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $14.4M | $-10.6M | ||
| Q3 25 | $9.7M | $-2.1M | ||
| Q2 25 | $14.1M | $24.5M | ||
| Q1 25 | $3.6M | $-15.9M | ||
| Q4 24 | $15.6M | $772.0K | ||
| Q3 24 | $11.0M | $-5.0K | ||
| Q2 24 | $1.0M | $10.0M | ||
| Q1 24 | $11.2M | $-16.0M |
| Q4 25 | $14.4M | — | ||
| Q3 25 | $9.7M | — | ||
| Q2 25 | $14.1M | — | ||
| Q1 25 | $3.6M | $-16.0M | ||
| Q4 24 | $15.6M | — | ||
| Q3 24 | $11.0M | $-36.0K | ||
| Q2 24 | $1.0M | — | ||
| Q1 24 | — | — |
| Q4 25 | 19.1% | — | ||
| Q3 25 | 17.7% | — | ||
| Q2 25 | 26.8% | — | ||
| Q1 25 | 7.7% | -21.5% | ||
| Q4 24 | 26.4% | — | ||
| Q3 24 | 13.7% | -0.0% | ||
| Q2 24 | 2.1% | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.0% | 0.0% | ||
| Q3 25 | 0.0% | 0.0% | ||
| Q2 25 | 0.0% | 0.0% | ||
| Q1 25 | 0.1% | 0.1% | ||
| Q4 24 | 0.0% | 0.0% | ||
| Q3 24 | 0.0% | 0.0% | ||
| Q2 24 | 0.0% | 0.0% | ||
| Q1 24 | 0.0% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | 1.10× | — | ||
| Q2 25 | 2.41× | — | ||
| Q1 25 | 1.21× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.54× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
