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Side-by-side financial comparison of PIONEER POWER SOLUTIONS, INC. (PPSI) and Relay Therapeutics, Inc. (RLAY). Click either name above to swap in a different company.
Relay Therapeutics, Inc. is the larger business by last-quarter revenue ($7.0M vs $5.6M, roughly 1.2× PIONEER POWER SOLUTIONS, INC.). PIONEER POWER SOLUTIONS, INC. produced more free cash flow last quarter ($-2.2M vs $-235.9M).
Caterpillar Energy Solutions GmbH, is a mechanical engineering company based in Mannheim, Baden-Württemberg, Germany. It was known as MWM GmbH Motoren-Werke Mannheim (MWM) until November 2013. In 2009 the company was the third-largest producer by revenue of gas and diesel engines.
Relay Therapeutics is a clinical-stage biotechnology company focused on developing precision oncology therapies. It leverages advanced computational modeling of protein dynamics, paired with cutting-edge experimental biology, to design targeted medicines for previously intractable cancer types, serving global oncology care markets and patient populations.
PPSI vs RLAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.6M | $7.0M |
| Net Profit | $-1.4M | — |
| Gross Margin | 23.5% | — |
| Operating Margin | -19.4% | — |
| Net Margin | -24.7% | — |
| Revenue YoY | -42.3% | — |
| Net Profit YoY | -103.8% | — |
| EPS (diluted) | $-0.12 | — |
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 | $5.6M | $7.0M | ||
| Q3 25 | $6.9M | $0 | ||
| Q2 25 | $8.4M | — | ||
| Q1 25 | $6.7M | $7.7M | ||
| Q4 24 | $9.8M | $0 | ||
| Q3 24 | $6.4M | $0 | ||
| Q2 24 | $3.4M | $0 | ||
| Q1 24 | $3.3M | $10.0M |
| Q4 25 | $-1.4M | — | ||
| Q3 25 | $-2.4M | $-74.1M | ||
| Q2 25 | $-1.3M | — | ||
| Q1 25 | $-929.0K | $-77.1M | ||
| Q4 24 | $36.3M | — | ||
| Q3 24 | $-1.1M | $-88.1M | ||
| Q2 24 | $-2.3M | $-92.2M | ||
| Q1 24 | $-1.0M | $-81.4M |
| Q4 25 | 23.5% | — | ||
| Q3 25 | 9.3% | — | ||
| Q2 25 | 15.7% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 28.9% | — | ||
| Q3 24 | 23.7% | — | ||
| Q2 24 | 18.9% | — | ||
| Q1 24 | 16.1% | — |
| Q4 25 | -19.4% | — | ||
| Q3 25 | -21.0% | — | ||
| Q2 25 | -20.4% | — | ||
| Q1 25 | -34.8% | -1105.2% | ||
| Q4 24 | -11.0% | — | ||
| Q3 24 | -11.1% | — | ||
| Q2 24 | -51.1% | — | ||
| Q1 24 | -52.1% | -903.0% |
| Q4 25 | -24.7% | — | ||
| Q3 25 | -34.1% | — | ||
| Q2 25 | -15.9% | — | ||
| Q1 25 | -13.8% | -1003.6% | ||
| Q4 24 | 372.1% | — | ||
| Q3 24 | -17.5% | — | ||
| Q2 24 | -67.2% | — | ||
| Q1 24 | -31.2% | -813.3% |
| Q4 25 | $-0.12 | — | ||
| Q3 25 | $-0.21 | $-0.43 | ||
| Q2 25 | $-0.12 | — | ||
| Q1 25 | $-0.09 | $-0.46 | ||
| Q4 24 | $3.31 | — | ||
| Q3 24 | $-0.10 | $-0.63 | ||
| Q2 24 | $-0.21 | $-0.69 | ||
| Q1 24 | $-0.10 | $-0.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $84.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $29.3M | $567.1M |
| Total Assets | $35.5M | $621.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $84.0M | ||
| Q3 25 | — | $91.6M | ||
| Q2 25 | $18.0M | — | ||
| Q1 25 | $25.8M | $93.5M | ||
| Q4 24 | $41.6M | $124.3M | ||
| Q3 24 | $3.1M | $152.4M | ||
| Q2 24 | $6.5M | $134.1M | ||
| Q1 24 | $6.2M | $152.9M |
| Q4 25 | $29.3M | $567.1M | ||
| Q3 25 | $30.7M | $607.7M | ||
| Q2 25 | $33.0M | — | ||
| Q1 25 | $34.5M | $721.1M | ||
| Q4 24 | $35.4M | $777.8M | ||
| Q3 24 | $14.7M | $838.9M | ||
| Q2 24 | $15.8M | $681.7M | ||
| Q1 24 | $18.1M | $745.8M |
| Q4 25 | $35.5M | $621.3M | ||
| Q3 25 | $37.6M | $670.0M | ||
| Q2 25 | $39.1M | — | ||
| Q1 25 | $47.5M | $799.4M | ||
| Q4 24 | $66.0M | $871.3M | ||
| Q3 24 | $40.1M | $930.1M | ||
| Q2 24 | $38.0M | $772.5M | ||
| Q1 24 | $39.3M | $841.4M |
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 | $-1.0M | $-235.5M |
| Free Cash FlowOCF − Capex | $-2.2M | $-235.9M |
| FCF MarginFCF / Revenue | -38.8% | -3370.0% |
| Capex IntensityCapex / Revenue | 20.3% | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-8.5M | $-622.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.0M | $-235.5M | ||
| Q3 25 | $-817.0K | $-62.1M | ||
| Q2 25 | $-5.5M | — | ||
| Q1 25 | $1.5M | $-73.2M | ||
| Q4 24 | $-2.1M | $-249.1M | ||
| Q3 24 | $-2.7M | $-75.1M | ||
| Q2 24 | $571.0K | $-65.8M | ||
| Q1 24 | $-1.9M | $-50.3M |
| Q4 25 | $-2.2M | $-235.9M | ||
| Q3 25 | $-1.6M | $-62.1M | ||
| Q2 25 | $-5.6M | — | ||
| Q1 25 | $907.0K | $-73.6M | ||
| Q4 24 | $-4.6M | $-251.1M | ||
| Q3 24 | $-3.4M | $-75.3M | ||
| Q2 24 | $170.0K | $-65.8M | ||
| Q1 24 | $-2.2M | $-52.1M |
| Q4 25 | -38.8% | -3370.0% | ||
| Q3 25 | -23.4% | — | ||
| Q2 25 | -67.0% | — | ||
| Q1 25 | 13.5% | -958.4% | ||
| Q4 24 | -46.9% | — | ||
| Q3 24 | -53.0% | — | ||
| Q2 24 | 5.0% | — | ||
| Q1 24 | -65.2% | -520.7% |
| Q4 25 | 20.3% | 5.9% | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | 1.7% | — | ||
| Q1 25 | 8.8% | 5.0% | ||
| Q4 24 | 25.4% | — | ||
| Q3 24 | 10.3% | — | ||
| Q2 24 | 11.8% | — | ||
| Q1 24 | 6.4% | 17.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.06× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PPSI
| Total Revenue | $4.0M | 70% |
| Other | $1.7M | 30% |
RLAY
Segment breakdown not available.
