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Side-by-side financial comparison of Solid Power, Inc. (SLDP) and TScan Therapeutics, Inc. (TCRX). Click either name above to swap in a different company.
Solid Power, Inc. is the larger business by last-quarter revenue ($3.6M vs $2.6M, roughly 1.4× TScan Therapeutics, Inc.). On growth, TScan Therapeutics, Inc. posted the faster year-over-year revenue change (286.0% vs -18.6%). Solid Power, Inc. produced more free cash flow last quarter ($-23.0M vs $-32.2M). Over the past eight quarters, TScan Therapeutics, Inc.'s revenue compounded faster (-9.7% CAGR vs -21.9%).
Solid Energy was the largest coal mining company in New Zealand and is a state owned enterprise of the New Zealand Government.
TScan Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing novel T cell receptor (TCR) immunotherapies for hard-to-treat cancers. Its proprietary platform identifies high-affinity naturally occurring TCRs targeting tumor antigens, with pipeline candidates spanning hematological malignancies and solid tumors, operating in the global oncology therapeutics market.
SLDP vs TCRX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $3.6M | $2.6M |
| Net Profit | — | $-23.0M |
| Gross Margin | — | — |
| Operating Margin | -730.1% | -929.4% |
| Net Margin | — | -895.1% |
| Revenue YoY | -18.6% | 286.0% |
| Net Profit YoY | — | 35.8% |
| EPS (diluted) | $-0.15 | $-0.18 |
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 | $3.6M | $2.6M | ||
| Q3 25 | $3.7M | $2.5M | ||
| Q2 25 | $6.5M | $3.1M | ||
| Q1 25 | $6.0M | $2.2M | ||
| Q4 24 | $4.5M | — | ||
| Q3 24 | $4.7M | $1.0M | ||
| Q2 24 | $5.1M | — | ||
| Q1 24 | $6.0M | — |
| Q4 25 | — | $-23.0M | ||
| Q3 25 | $-25.9M | $-35.7M | ||
| Q2 25 | $-25.3M | $-37.0M | ||
| Q1 25 | $-15.2M | $-34.1M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-22.4M | $-29.9M | ||
| Q2 24 | $-22.3M | — | ||
| Q1 24 | $-21.2M | — |
| Q4 25 | -730.1% | -929.4% | ||
| Q3 25 | -654.4% | -1475.6% | ||
| Q2 25 | -398.9% | -1256.6% | ||
| Q1 25 | -399.4% | -1669.7% | ||
| Q4 24 | -561.1% | — | ||
| Q3 24 | -593.2% | -3109.8% | ||
| Q2 24 | -530.8% | — | ||
| Q1 24 | -433.1% | — |
| Q4 25 | — | -895.1% | ||
| Q3 25 | -693.1% | -1422.1% | ||
| Q2 25 | -390.7% | -1201.3% | ||
| Q1 25 | -251.8% | -1571.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | -482.0% | -2849.1% | ||
| Q2 24 | -438.9% | — | ||
| Q1 24 | -356.2% | — |
| Q4 25 | $-0.15 | $-0.18 | ||
| Q3 25 | $-0.14 | $-0.28 | ||
| Q2 25 | $-0.14 | $-0.28 | ||
| Q1 25 | $-0.08 | $-0.26 | ||
| Q4 24 | $-0.16 | — | ||
| Q3 24 | $-0.13 | $-0.25 | ||
| Q2 24 | $-0.13 | — | ||
| Q1 24 | $-0.12 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $250.8M | $152.4M |
| Total DebtLower is stronger | — | $32.5M |
| Stockholders' EquityBook value | $415.7M | $123.1M |
| Total Assets | $455.1M | $228.8M |
| Debt / EquityLower = less leverage | — | 0.26× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $250.8M | $152.4M | ||
| Q3 25 | $251.2M | $184.5M | ||
| Q2 25 | $230.9M | $218.0M | ||
| Q1 25 | $240.9M | $251.7M | ||
| Q4 24 | $118.2M | — | ||
| Q3 24 | $132.0M | $271.1M | ||
| Q2 24 | $140.5M | — | ||
| Q1 24 | $146.6M | — |
| Q4 25 | — | $32.5M | ||
| Q3 25 | — | $32.4M | ||
| Q2 25 | — | $32.3M | ||
| Q1 25 | — | $32.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $30.6M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $415.7M | $123.1M | ||
| Q3 25 | $381.2M | $144.0M | ||
| Q2 25 | $370.6M | $176.7M | ||
| Q1 25 | $397.1M | $210.2M | ||
| Q4 24 | $410.3M | — | ||
| Q3 24 | $439.4M | $229.1M | ||
| Q2 24 | $456.8M | — | ||
| Q1 24 | $479.4M | — |
| Q4 25 | $455.1M | $228.8M | ||
| Q3 25 | $416.1M | $262.2M | ||
| Q2 25 | $398.0M | $298.6M | ||
| Q1 25 | $419.4M | $332.7M | ||
| Q4 24 | $448.3M | — | ||
| Q3 24 | $470.9M | $348.0M | ||
| Q2 24 | $492.6M | — | ||
| Q1 24 | $516.2M | — |
| Q4 25 | — | 0.26× | ||
| Q3 25 | — | 0.23× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.15× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | — | ||
| Q1 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 | $-18.4M | $-32.0M |
| Free Cash FlowOCF − Capex | $-23.0M | $-32.2M |
| FCF MarginFCF / Revenue | -633.0% | -1253.3% |
| Capex IntensityCapex / Revenue | 126.5% | 6.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-83.6M | $-139.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.4M | $-32.0M | ||
| Q3 25 | $-14.3M | $-32.5M | ||
| Q2 25 | $-14.4M | $-33.3M | ||
| Q1 25 | $-26.3M | $-37.6M | ||
| Q4 24 | $-13.9M | — | ||
| Q3 24 | $-9.9M | $-27.9M | ||
| Q2 24 | $-11.1M | — | ||
| Q1 24 | $-29.1M | — |
| Q4 25 | $-23.0M | $-32.2M | ||
| Q3 25 | $-14.8M | $-33.9M | ||
| Q2 25 | $-17.1M | $-34.5M | ||
| Q1 25 | $-28.6M | $-39.1M | ||
| Q4 24 | $-18.6M | — | ||
| Q3 24 | $-12.6M | $-29.3M | ||
| Q2 24 | $-15.5M | — | ||
| Q1 24 | $-33.1M | — |
| Q4 25 | -633.0% | -1253.3% | ||
| Q3 25 | -397.6% | -1349.6% | ||
| Q2 25 | -264.2% | -1123.1% | ||
| Q1 25 | -476.1% | -1801.8% | ||
| Q4 24 | -416.5% | — | ||
| Q3 24 | -271.5% | -2792.0% | ||
| Q2 24 | -305.8% | — | ||
| Q1 24 | -556.3% | — |
| Q4 25 | 126.5% | 6.7% | ||
| Q3 25 | 15.3% | 56.8% | ||
| Q2 25 | 41.5% | 41.6% | ||
| Q1 25 | 39.1% | 70.6% | ||
| Q4 24 | 105.5% | — | ||
| Q3 24 | 59.7% | 130.6% | ||
| Q2 24 | 86.8% | — | ||
| Q1 24 | 68.1% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
