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Side-by-side financial comparison of Relay Therapeutics, Inc. (RLAY) and Satellogic Inc. (SATL). Click either name above to swap in a different company.
Relay Therapeutics, Inc. is the larger business by last-quarter revenue ($7.0M vs $6.2M, roughly 1.1× Satellogic Inc.). Satellogic Inc. produced more free cash flow last quarter ($-12.8M vs $-235.9M).
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.
Satellogic Inc. is an American company specializing in Earth-observation satellites, founded in 2010 by Emiliano Kargieman and Gerardo Richarte.
RLAY vs SATL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.0M | $6.2M |
| Net Profit | — | $30.5M |
| Gross Margin | — | — |
| Operating Margin | — | -114.2% |
| Net Margin | — | 488.0% |
| Revenue YoY | — | — |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $0.24 |
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 | $7.0M | $6.2M | ||
| Q3 25 | $0 | $3.6M | ||
| Q2 25 | — | $4.4M | ||
| Q1 25 | $7.7M | $3.4M | ||
| Q4 24 | $0 | — | ||
| Q3 24 | $0 | — | ||
| Q2 24 | $0 | $3.5M | ||
| Q1 24 | $10.0M | — |
| Q4 25 | — | $30.5M | ||
| Q3 25 | $-74.1M | $4.0M | ||
| Q2 25 | — | $-6.7M | ||
| Q1 25 | $-77.1M | $-32.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-88.1M | — | ||
| Q2 24 | $-92.2M | $-18.1M | ||
| Q1 24 | $-81.4M | — |
| Q4 25 | — | -114.2% | ||
| Q3 25 | — | -222.5% | ||
| Q2 25 | — | -141.6% | ||
| Q1 25 | -1105.2% | -280.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -419.2% | ||
| Q1 24 | -903.0% | — |
| Q4 25 | — | 488.0% | ||
| Q3 25 | — | 109.2% | ||
| Q2 25 | — | -149.8% | ||
| Q1 25 | -1003.6% | -961.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -517.0% | ||
| Q1 24 | -813.3% | — |
| Q4 25 | — | $0.24 | ||
| Q3 25 | $-0.43 | $-0.02 | ||
| Q2 25 | — | $-0.06 | ||
| Q1 25 | $-0.46 | $-0.34 | ||
| Q4 24 | — | — | ||
| Q3 24 | $-0.63 | — | ||
| Q2 24 | $-0.69 | $-0.20 | ||
| Q1 24 | $-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 | $94.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $567.1M | $60.5M |
| Total Assets | $621.3M | $151.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $84.0M | $94.4M | ||
| Q3 25 | $91.6M | $28.3M | ||
| Q2 25 | — | $32.6M | ||
| Q1 25 | $93.5M | $17.7M | ||
| Q4 24 | $124.3M | — | ||
| Q3 24 | $152.4M | — | ||
| Q2 24 | $134.1M | $25.6M | ||
| Q1 24 | $152.9M | — |
| Q4 25 | $567.1M | $60.5M | ||
| Q3 25 | $607.7M | $-56.9M | ||
| Q2 25 | — | $-68.1M | ||
| Q1 25 | $721.1M | $-83.1M | ||
| Q4 24 | $777.8M | — | ||
| Q3 24 | $838.9M | — | ||
| Q2 24 | $681.7M | $19.1M | ||
| Q1 24 | $745.8M | — |
| Q4 25 | $621.3M | $151.3M | ||
| Q3 25 | $670.0M | $70.9M | ||
| Q2 25 | — | $73.8M | ||
| Q1 25 | $799.4M | $61.4M | ||
| Q4 24 | $871.3M | — | ||
| Q3 24 | $930.1M | — | ||
| Q2 24 | $772.5M | $76.6M | ||
| Q1 24 | $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 | $-235.5M | $-9.5M |
| Free Cash FlowOCF − Capex | $-235.9M | $-12.8M |
| FCF MarginFCF / Revenue | -3370.0% | -204.9% |
| Capex IntensityCapex / Revenue | 5.9% | 53.6% |
| Cash ConversionOCF / Net Profit | — | -0.31× |
| TTM Free Cash FlowTrailing 4 quarters | $-622.7M | $-34.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-235.5M | $-9.5M | ||
| Q3 25 | $-62.1M | $-8.4M | ||
| Q2 25 | — | $-4.3M | ||
| Q1 25 | $-73.2M | $-4.7M | ||
| Q4 24 | $-249.1M | — | ||
| Q3 24 | $-75.1M | — | ||
| Q2 24 | $-65.8M | — | ||
| Q1 24 | $-50.3M | — |
| Q4 25 | $-235.9M | $-12.8M | ||
| Q3 25 | $-62.1M | $-9.7M | ||
| Q2 25 | — | $-5.1M | ||
| Q1 25 | $-73.6M | $-6.6M | ||
| Q4 24 | $-251.1M | — | ||
| Q3 24 | $-75.3M | — | ||
| Q2 24 | $-65.8M | — | ||
| Q1 24 | $-52.1M | — |
| Q4 25 | -3370.0% | -204.9% | ||
| Q3 25 | — | -267.2% | ||
| Q2 25 | — | -115.3% | ||
| Q1 25 | -958.4% | -195.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -520.7% | — |
| Q4 25 | 5.9% | 53.6% | ||
| Q3 25 | — | 36.8% | ||
| Q2 25 | — | 17.5% | ||
| Q1 25 | 5.0% | 56.5% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 17.8% | — |
| Q4 25 | — | -0.31× | ||
| Q3 25 | — | -2.11× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RLAY
Segment breakdown not available.
SATL
| Transferred At Point In Time | $5.7M | 91% |
| Other | $547.0K | 9% |
