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Side-by-side financial comparison of Sol-Gel Technologies Ltd. (SLGL) and TRX GOLD Corp (TRX). Click either name above to swap in a different company.

TRX GOLD Corp is the larger business by last-quarter revenue ($25.1M vs $17.3M, roughly 1.5× Sol-Gel Technologies Ltd.). Sol-Gel Technologies Ltd. runs the higher net margin — 67.3% vs -2.0%, a 69.2% gap on every dollar of revenue. On growth, Sol-Gel Technologies Ltd. posted the faster year-over-year revenue change (217.7% vs 100.5%).

Sol-Gel Technologies Ltd. is a specialty biopharmaceutical company focused on developing and commercializing innovative dermatology treatments. Leveraging its proprietary sol-gel delivery technology, it creates topical therapies for common skin conditions including acne, rosacea and atopic dermatitis, with primary markets across North America and Europe, partnering with established healthcare firms to expand product reach.

TRX Gold Corp is a mineral exploration and development firm primarily engaged in the identification, evaluation, and development of gold resource assets. It conducts most of its operations in East Africa, with core project holdings in Tanzania, targeting high-grade deposits to deliver sustainable production and stakeholder value.

SLGL vs TRX — Head-to-Head

Bigger by revenue
TRX
TRX
1.5× larger
TRX
$25.1M
$17.3M
SLGL
Growing faster (revenue YoY)
SLGL
SLGL
+117.2% gap
SLGL
217.7%
100.5%
TRX
Higher net margin
SLGL
SLGL
69.2% more per $
SLGL
67.3%
-2.0%
TRX

Income Statement — Q2 FY2025 vs Q1 FY2026

Metric
SLGL
SLGL
TRX
TRX
Revenue
$17.3M
$25.1M
Net Profit
$11.6M
$-496.0K
Gross Margin
56.6%
Operating Margin
65.1%
Net Margin
67.3%
-2.0%
Revenue YoY
217.7%
100.5%
Net Profit YoY
487.6%
-123.2%
EPS (diluted)
$4.17
$-0.01

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.

Revenue
SLGL
SLGL
TRX
TRX
Q4 25
$25.1M
Q2 25
$17.3M
$12.5M
Q1 25
$9.1M
Q4 24
$12.5M
Q2 24
$5.4M
$10.1M
Q1 24
$8.0M
Q4 23
$9.4M
Q2 23
$594.0K
$9.3M
Net Profit
SLGL
SLGL
TRX
TRX
Q4 25
$-496.0K
Q2 25
$11.6M
$1.1M
Q1 25
$-1.9M
Q4 24
$2.1M
Q2 24
$2.0M
$-1.7M
Q1 24
$1.9M
Q4 23
$-39.0K
Q2 23
$-6.0M
$-374.0K
Gross Margin
SLGL
SLGL
TRX
TRX
Q4 25
56.6%
Q2 25
35.1%
Q1 25
23.5%
Q4 24
38.6%
Q2 24
42.9%
Q1 24
41.0%
Q4 23
39.5%
Q2 23
41.7%
Operating Margin
SLGL
SLGL
TRX
TRX
Q4 25
Q2 25
65.1%
Q1 25
Q4 24
Q2 24
29.9%
Q1 24
Q4 23
Q2 23
-1098.8%
Net Margin
SLGL
SLGL
TRX
TRX
Q4 25
-2.0%
Q2 25
67.3%
8.9%
Q1 25
-21.3%
Q4 24
17.1%
Q2 24
36.4%
-16.3%
Q1 24
24.1%
Q4 23
-0.4%
Q2 23
-1005.1%
-4.0%
EPS (diluted)
SLGL
SLGL
TRX
TRX
Q4 25
$-0.01
Q2 25
$4.17
$0.00
Q1 25
$-0.01
Q4 24
$0.00
Q2 24
$0.71
$-0.01
Q1 24
$0.00
Q4 23
$0.00
Q2 23
$-0.22
$0.00

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
SLGL
SLGL
TRX
TRX
Cash + ST InvestmentsLiquidity on hand
$24.3M
$9.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$31.9M
$74.5M
Total Assets
$39.3M
$129.6M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
SLGL
SLGL
TRX
TRX
Q4 25
$9.2M
Q2 25
$24.3M
$3.6M
Q1 25
$6.0M
Q4 24
$6.8M
Q2 24
$26.5M
$7.7M
Q1 24
$8.0M
Q4 23
$8.3M
Q2 23
$33.5M
$7.2M
Stockholders' Equity
SLGL
SLGL
TRX
TRX
Q4 25
$74.5M
Q2 25
$31.9M
$69.0M
Q1 25
$67.5M
Q4 24
$68.4M
Q2 24
$34.9M
$62.5M
Q1 24
$63.9M
Q4 23
$61.5M
Q2 23
$48.3M
$58.2M
Total Assets
SLGL
SLGL
TRX
TRX
Q4 25
$129.6M
Q2 25
$39.3M
$112.3M
Q1 25
$106.7M
Q4 24
$102.6M
Q2 24
$42.0M
$92.6M
Q1 24
$88.2M
Q4 23
$87.1M
Q2 23
$55.1M
$84.2M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
SLGL
SLGL
TRX
TRX
Operating Cash FlowLast quarter
$4.0M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
SLGL
SLGL
TRX
TRX
Q4 25
$4.0M
Q2 25
$3.4M
Q1 25
$2.0M
Q4 24
$2.4M
Q2 24
$3.1M
Q1 24
$1.0M
Q4 23
$5.1M
Q2 23
$-8.3M
$3.2M
Free Cash Flow
SLGL
SLGL
TRX
TRX
Q4 25
Q2 25
Q1 25
Q4 24
Q2 24
Q1 24
Q4 23
Q2 23
$-8.4M
FCF Margin
SLGL
SLGL
TRX
TRX
Q4 25
Q2 25
Q1 25
Q4 24
Q2 24
Q1 24
Q4 23
Q2 23
-1419.0%
Capex Intensity
SLGL
SLGL
TRX
TRX
Q4 25
Q2 25
Q1 25
Q4 24
Q2 24
Q1 24
Q4 23
Q2 23
15.8%
Cash Conversion
SLGL
SLGL
TRX
TRX
Q4 25
Q2 25
3.10×
Q1 25
Q4 24
1.11×
Q2 24
Q1 24
0.54×
Q4 23
Q2 23

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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