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Side-by-side financial comparison of PicoCELA Inc. (PCLA) and XBP Global Holdings, Inc. (XBP). Click either name above to swap in a different company.
PicoCELA Inc. is the larger business by last-quarter revenue ($252.6M vs $152.4M, roughly 1.7× XBP Global Holdings, Inc.). PicoCELA Inc. runs the higher net margin — -125.2% vs -200.7%, a 75.5% gap on every dollar of revenue. XBP Global Holdings, Inc. produced more free cash flow last quarter ($10.5M vs $-256.6M).
PicoCELA Inc. is a global technology company specializing in low-power, high-reliability wireless connectivity solutions, including Wi-Fi HaLow modules and edge network infrastructure. It caters to industrial IoT, smart city, retail, and smart home segments, with a primary operational footprint across Asia, North America, and European markets.
PCLA vs XBP — Head-to-Head
Income Statement — Q2 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $252.6M | $152.4M |
| Net Profit | $-316.2M | $-305.8M |
| Gross Margin | — | 21.7% |
| Operating Margin | -114.8% | -191.7% |
| Net Margin | -125.2% | -200.7% |
| Revenue YoY | — | -34.7% |
| Net Profit YoY | — | -980.1% |
| EPS (diluted) | — | $-2.60 |
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.
| Q3 25 | — | $152.4M | ||
| Q1 25 | $252.6M | — | ||
| Q3 24 | — | $233.4M |
| Q3 25 | — | $-305.8M | ||
| Q1 25 | $-316.2M | — | ||
| Q3 24 | — | $-28.3M |
| Q3 25 | — | 21.7% | ||
| Q1 25 | — | — | ||
| Q3 24 | — | 18.9% |
| Q3 25 | — | -191.7% | ||
| Q1 25 | -114.8% | — | ||
| Q3 24 | — | 0.9% |
| Q3 25 | — | -200.7% | ||
| Q1 25 | -125.2% | — | ||
| Q3 24 | — | -12.1% |
| Q3 25 | — | $-2.60 | ||
| Q1 25 | — | — | ||
| Q3 24 | — | $-0.09 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $456.8M | $34.5M |
| Total DebtLower is stronger | — | $381.5M |
| Stockholders' EquityBook value | $354.8M | $130.5M |
| Total Assets | $1.2B | $947.9M |
| Debt / EquityLower = less leverage | — | 2.92× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $34.5M | ||
| Q1 25 | $456.8M | — | ||
| Q3 24 | — | $7.8M |
| Q3 25 | — | $381.5M | ||
| Q1 25 | — | — | ||
| Q3 24 | — | $31.5M |
| Q3 25 | — | $130.5M | ||
| Q1 25 | $354.8M | — | ||
| Q3 24 | — | $-1.3B |
| Q3 25 | — | $947.9M | ||
| Q1 25 | $1.2B | — | ||
| Q3 24 | — | $99.6M |
| Q3 25 | — | 2.92× | ||
| Q1 25 | — | — | ||
| Q3 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 | $-245.6M | $13.9M |
| Free Cash FlowOCF − Capex | $-256.6M | $10.5M |
| FCF MarginFCF / Revenue | -101.6% | 6.9% |
| Capex IntensityCapex / Revenue | 4.3% | 2.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $13.9M | ||
| Q1 25 | $-245.6M | — | ||
| Q3 24 | — | $-1.5M |
| Q3 25 | — | $10.5M | ||
| Q1 25 | $-256.6M | — | ||
| Q3 24 | — | $-6.1M |
| Q3 25 | — | 6.9% | ||
| Q1 25 | -101.6% | — | ||
| Q3 24 | — | -2.6% |
| Q3 25 | — | 2.2% | ||
| Q1 25 | 4.3% | — | ||
| Q3 24 | — | 2.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PCLA
| Revenue from product | $179.1M | 71% |
| Revenue from SaaS, Maintenance and others | $42.4M | 17% |
| Revenue from product – related party | $31.0M | 12% |
XBP
| Related And Non Related Party | $136.5M | 90% |
| Technology | $8.2M | 5% |
| Other | $5.7M | 4% |
| Deferred Revenue As Of July312025 | $1.9M | 1% |
