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Side-by-side financial comparison of Sol-Gel Technologies Ltd. (SLGL) and VisionWave Holdings, Inc. (VWAV). Click either name above to swap in a different company.

Sol-Gel Technologies Ltd. is the larger business by last-quarter revenue ($17.3M vs $10.0M, roughly 1.7× VisionWave Holdings, Inc.). Sol-Gel Technologies Ltd. runs the higher net margin — 67.3% vs -69.4%, a 136.6% gap on every dollar of revenue.

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.

CoMix Wave Films, Inc. is a Japanese independent animation film studio and distribution company based in Chiyoda, Tokyo, Japan. The studio is known for its anime feature films, short films, and television commercials, particularly those made by director Makoto Shinkai. It was founded in March 2007 when it split from CoMix Wave Inc., which was initially formed in 1998 from Itochu Corporation, ASATSU, and other companies. On 15 October 2024, Toho announced that they'd acquired 45 shares or 6.0...

SLGL vs VWAV — Head-to-Head

Bigger by revenue
SLGL
SLGL
1.7× larger
SLGL
$17.3M
$10.0M
VWAV
Higher net margin
SLGL
SLGL
136.6% more per $
SLGL
67.3%
-69.4%
VWAV

Income Statement — Q2 FY2025 vs Q1 FY2026

Metric
SLGL
SLGL
VWAV
VWAV
Revenue
$17.3M
$10.0M
Net Profit
$11.6M
$-6.9M
Gross Margin
Operating Margin
65.1%
-65.7%
Net Margin
67.3%
-69.4%
Revenue YoY
217.7%
Net Profit YoY
487.6%
-1522.6%
EPS (diluted)
$4.17

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
VWAV
VWAV
Q4 25
$10.0M
Q2 25
$17.3M
Q2 24
$5.4M
Q2 23
$594.0K
Q2 22
$3.5M
Net Profit
SLGL
SLGL
VWAV
VWAV
Q4 25
$-6.9M
Q2 25
$11.6M
Q2 24
$2.0M
Q2 23
$-6.0M
Q2 22
$-134.0K
Operating Margin
SLGL
SLGL
VWAV
VWAV
Q4 25
-65.7%
Q2 25
65.1%
Q2 24
29.9%
Q2 23
-1098.8%
Q2 22
-13.2%
Net Margin
SLGL
SLGL
VWAV
VWAV
Q4 25
-69.4%
Q2 25
67.3%
Q2 24
36.4%
Q2 23
-1005.1%
Q2 22
-3.8%
EPS (diluted)
SLGL
SLGL
VWAV
VWAV
Q4 25
Q2 25
$4.17
Q2 24
$0.71
Q2 23
$-0.22
Q2 22
$0.01

Balance Sheet & Financial Strength

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

Metric
SLGL
SLGL
VWAV
VWAV
Cash + ST InvestmentsLiquidity on hand
$24.3M
$15.7K
Total DebtLower is stronger
Stockholders' EquityBook value
$31.9M
$3.1M
Total Assets
$39.3M
$18.4M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
SLGL
SLGL
VWAV
VWAV
Q4 25
$15.7K
Q2 25
$24.3M
Q2 24
$26.5M
Q2 23
$33.5M
Q2 22
$15.6M
Stockholders' Equity
SLGL
SLGL
VWAV
VWAV
Q4 25
$3.1M
Q2 25
$31.9M
Q2 24
$34.9M
Q2 23
$48.3M
Q2 22
$50.4M
Total Assets
SLGL
SLGL
VWAV
VWAV
Q4 25
$18.4M
Q2 25
$39.3M
Q2 24
$42.0M
Q2 23
$55.1M
Q2 22
$55.0M

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
VWAV
VWAV
Operating Cash FlowLast quarter
$-5.4M
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
VWAV
VWAV
Q4 25
$-5.4M
Q2 25
Q2 24
Q2 23
$-8.3M
Q2 22
Free Cash Flow
SLGL
SLGL
VWAV
VWAV
Q4 25
Q2 25
Q2 24
Q2 23
$-8.4M
Q2 22
FCF Margin
SLGL
SLGL
VWAV
VWAV
Q4 25
Q2 25
Q2 24
Q2 23
-1419.0%
Q2 22
Capex Intensity
SLGL
SLGL
VWAV
VWAV
Q4 25
Q2 25
Q2 24
Q2 23
15.8%
Q2 22

Financial Flow Comparison

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

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