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Side-by-side financial comparison of Recon Technology, Ltd (RCON) and Relay Therapeutics, Inc. (RLAY). Click either name above to swap in a different company.
Recon Technology, Ltd is the larger business by last-quarter revenue ($12.2M vs $7.0M, roughly 1.7× Relay Therapeutics, Inc.).
Recon Instruments Inc. was a Canadian technology company that produced smartglasses and wearable displays marketed by the company as "heads-up displays" for sports. Recon's products delivered live activity metrics, GPS maps, and notifications directly to the user's eye. Recon's first heads-up display offering was released commercially in October 2010, roughly a year and a half before Google introduced Google Glass.
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.
RCON vs RLAY — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.2M | $7.0M |
| Net Profit | $-832.7K | — |
| Gross Margin | 33.5% | — |
| Operating Margin | -14.6% | — |
| Net Margin | -6.8% | — |
| Revenue YoY | 111.0% | — |
| Net Profit YoY | 70.5% | — |
| EPS (diluted) | $-0.09 | — |
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 | $12.2M | $7.0M | ||
| Q3 25 | — | $0 | ||
| Q1 25 | — | $7.7M | ||
| Q4 24 | $5.8M | $0 | ||
| Q3 24 | — | $0 | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | $10.0M | ||
| Q4 23 | $6.4M | — |
| Q4 25 | $-832.7K | — | ||
| Q3 25 | — | $-74.1M | ||
| Q1 25 | — | $-77.1M | ||
| Q4 24 | $-2.8M | — | ||
| Q3 24 | — | $-88.1M | ||
| Q2 24 | — | $-92.2M | ||
| Q1 24 | — | $-81.4M | ||
| Q4 23 | $-3.2M | — |
| Q4 25 | 33.5% | — | ||
| Q3 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 31.7% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — | ||
| Q4 23 | 26.7% | — |
| Q4 25 | -14.6% | — | ||
| Q3 25 | — | — | ||
| Q1 25 | — | -1105.2% | ||
| Q4 24 | -63.9% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -903.0% | ||
| Q4 23 | -50.4% | — |
| Q4 25 | -6.8% | — | ||
| Q3 25 | — | — | ||
| Q1 25 | — | -1003.6% | ||
| Q4 24 | -48.9% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -813.3% | ||
| Q4 23 | -49.8% | — |
| Q4 25 | $-0.09 | — | ||
| Q3 25 | — | $-0.43 | ||
| Q1 25 | — | $-0.46 | ||
| Q4 24 | $-0.31 | — | ||
| Q3 24 | — | $-0.63 | ||
| Q2 24 | — | $-0.69 | ||
| Q1 24 | — | $-0.62 | ||
| Q4 23 | $-1.16 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.7M | $84.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $66.4M | $567.1M |
| Total Assets | $77.6M | $621.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.7M | $84.0M | ||
| Q3 25 | — | $91.6M | ||
| Q1 25 | — | $93.5M | ||
| Q4 24 | $19.9M | $124.3M | ||
| Q3 24 | — | $152.4M | ||
| Q2 24 | — | $134.1M | ||
| Q1 24 | — | $152.9M | ||
| Q4 23 | $36.0M | — |
| Q4 25 | $66.4M | $567.1M | ||
| Q3 25 | — | $607.7M | ||
| Q1 25 | — | $721.1M | ||
| Q4 24 | $66.9M | $777.8M | ||
| Q3 24 | — | $838.9M | ||
| Q2 24 | — | $681.7M | ||
| Q1 24 | — | $745.8M | ||
| Q4 23 | $60.0M | — |
| Q4 25 | $77.6M | $621.3M | ||
| Q3 25 | — | $670.0M | ||
| Q1 25 | — | $799.4M | ||
| Q4 24 | $74.2M | $871.3M | ||
| Q3 24 | — | $930.1M | ||
| Q2 24 | — | $772.5M | ||
| Q1 24 | — | $841.4M | ||
| Q4 23 | $68.1M | — |
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 | $-1.9M | $-235.5M |
| Free Cash FlowOCF − Capex | — | $-235.9M |
| FCF MarginFCF / Revenue | — | -3370.0% |
| Capex IntensityCapex / Revenue | — | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-622.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-1.9M | $-235.5M | ||
| Q3 25 | — | $-62.1M | ||
| Q1 25 | — | $-73.2M | ||
| Q4 24 | $-1.7M | $-249.1M | ||
| Q3 24 | — | $-75.1M | ||
| Q2 24 | — | $-65.8M | ||
| Q1 24 | — | $-50.3M | ||
| Q4 23 | $-931.0K | — |
| Q4 25 | — | $-235.9M | ||
| Q3 25 | — | $-62.1M | ||
| Q1 25 | — | $-73.6M | ||
| Q4 24 | — | $-251.1M | ||
| Q3 24 | — | $-75.3M | ||
| Q2 24 | — | $-65.8M | ||
| Q1 24 | — | $-52.1M | ||
| Q4 23 | — | — |
| Q4 25 | — | -3370.0% | ||
| Q3 25 | — | — | ||
| Q1 25 | — | -958.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -520.7% | ||
| Q4 23 | — | — |
| Q4 25 | — | 5.9% | ||
| Q3 25 | — | — | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 17.8% | ||
| Q4 23 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
