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Side-by-side financial comparison of STEM, INC. (STEM) and TELOS CORP (TLS). Click either name above to swap in a different company.
STEM, INC. is the larger business by last-quarter revenue ($47.1M vs $46.8M, roughly 1.0× TELOS CORP). STEM, INC. runs the higher net margin — -33.9% vs -34.9%, a 1.0% gap on every dollar of revenue. On growth, TELOS CORP posted the faster year-over-year revenue change (77.4% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs 25.7%).
StemCells, Inc. is a public biopharmaceutical company headquartered in Newark, California, that is developing purified human neural stem cells (HuCNS-SCs) in the hopes of treating central nervous system disorders and paralysis. StemCells' HuCNS-SCs have the ability to differentiate into the three main types of cells found in the central nervous system: neurons, astrocytes and oligodendrocytes.
Telos Corporation is an information technology and cybersecurity company located in Ashburn, Virginia. Telos primarily serves government and enterprise clients, receiving a large number of its contracts from the United States Department of Defense. Customers are primarily military, intelligence and civilian agencies of the US government and NATO allies.
STEM vs TLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $47.1M | $46.8M |
| Net Profit | $-16.0M | $-16.3M |
| Gross Margin | 48.9% | 35.0% |
| Operating Margin | -17.7% | -39.6% |
| Net Margin | -33.9% | -34.9% |
| Revenue YoY | -15.6% | 77.4% |
| Net Profit YoY | 68.8% | -74.8% |
| EPS (diluted) | $-4.40 | $-0.22 |
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 | $47.1M | $46.8M | ||
| Q3 25 | $38.2M | $51.4M | ||
| Q2 25 | $38.4M | $36.0M | ||
| Q1 25 | $32.5M | $30.6M | ||
| Q4 24 | $55.8M | $26.4M | ||
| Q3 24 | $29.3M | $23.8M | ||
| Q2 24 | $34.0M | $28.5M | ||
| Q1 24 | $25.5M | $29.6M |
| Q4 25 | $-16.0M | $-16.3M | ||
| Q3 25 | $-23.8M | $-2.1M | ||
| Q2 25 | $202.5M | $-9.5M | ||
| Q1 25 | $-25.0M | $-8.6M | ||
| Q4 24 | $-51.1M | $-9.3M | ||
| Q3 24 | $-148.3M | $-28.1M | ||
| Q2 24 | $-582.3M | $-7.8M | ||
| Q1 24 | $-72.3M | $-7.4M |
| Q4 25 | 48.9% | 35.0% | ||
| Q3 25 | 35.5% | 39.9% | ||
| Q2 25 | 33.4% | 33.2% | ||
| Q1 25 | 32.4% | 39.8% | ||
| Q4 24 | -4.4% | 40.3% | ||
| Q3 24 | 21.2% | 13.2% | ||
| Q2 24 | 27.6% | 34.1% | ||
| Q1 24 | -95.0% | 37.0% |
| Q4 25 | -17.7% | -39.6% | ||
| Q3 25 | -33.6% | -4.8% | ||
| Q2 25 | -34.8% | -27.5% | ||
| Q1 25 | -65.0% | -29.5% | ||
| Q4 24 | -84.4% | -37.6% | ||
| Q3 24 | -493.2% | -121.4% | ||
| Q2 24 | -1705.5% | -30.3% | ||
| Q1 24 | -267.0% | -28.5% |
| Q4 25 | -33.9% | -34.9% | ||
| Q3 25 | -62.2% | -4.1% | ||
| Q2 25 | 527.8% | -26.5% | ||
| Q1 25 | -76.9% | -28.1% | ||
| Q4 24 | -91.6% | -35.4% | ||
| Q3 24 | -506.3% | -118.0% | ||
| Q2 24 | -1712.6% | -27.2% | ||
| Q1 24 | -283.9% | -24.9% |
| Q4 25 | $-4.40 | $-0.22 | ||
| Q3 25 | $-2.84 | $-0.03 | ||
| Q2 25 | $-1.79 | $-0.13 | ||
| Q1 25 | $-0.15 | $-0.12 | ||
| Q4 24 | $-15.29 | $-0.13 | ||
| Q3 24 | $-18.24 | $-0.39 | ||
| Q2 24 | $-71.81 | $-0.11 | ||
| Q1 24 | $-0.46 | $-0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $48.9M | $53.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-249.4M | $96.0M |
| Total Assets | $308.9M | $139.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $48.9M | $53.2M | ||
| Q3 25 | $43.1M | $59.0M | ||
| Q2 25 | $40.8M | $57.0M | ||
| Q1 25 | $58.6M | $57.8M | ||
| Q4 24 | $56.3M | $54.6M | ||
| Q3 24 | $75.4M | $69.8M | ||
| Q2 24 | $89.6M | $80.1M | ||
| Q1 24 | $112.8M | $93.9M |
| Q4 25 | $-249.4M | $96.0M | ||
| Q3 25 | $-235.7M | $119.7M | ||
| Q2 25 | $-214.1M | $118.4M | ||
| Q1 25 | $-417.5M | $126.1M | ||
| Q4 24 | $-398.4M | $127.1M | ||
| Q3 24 | $-344.1M | $129.5M | ||
| Q2 24 | $-203.2M | $149.1M | ||
| Q1 24 | $371.6M | $154.4M |
| Q4 25 | $308.9M | $139.9M | ||
| Q3 25 | $362.6M | $164.3M | ||
| Q2 25 | $379.2M | $165.0M | ||
| Q1 25 | $405.1M | $158.1M | ||
| Q4 24 | $437.4M | $158.2M | ||
| Q3 24 | $537.8M | $166.3M | ||
| Q2 24 | $691.5M | $182.4M | ||
| Q1 24 | $1.3B | $195.4M |
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 | $8.2M | $8.0M |
| Free Cash FlowOCF − Capex | — | $8.0M |
| FCF MarginFCF / Revenue | — | 17.0% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $29.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $8.0M | ||
| Q3 25 | $11.4M | $9.1M | ||
| Q2 25 | $-21.3M | $7.0M | ||
| Q1 25 | $8.5M | $6.1M | ||
| Q4 24 | $-14.7M | $-10.5M | ||
| Q3 24 | $-9.4M | $-7.1M | ||
| Q2 24 | $-11.9M | $-8.0M | ||
| Q1 24 | $-621.0K | $-350.0K |
| Q4 25 | — | $8.0M | ||
| Q3 25 | — | $8.7M | ||
| Q2 25 | — | $6.8M | ||
| Q1 25 | — | $6.0M | ||
| Q4 24 | — | $-12.4M | ||
| Q3 24 | — | $-7.1M | ||
| Q2 24 | — | $-8.2M | ||
| Q1 24 | — | $-447.0K |
| Q4 25 | — | 17.0% | ||
| Q3 25 | — | 16.9% | ||
| Q2 25 | — | 19.0% | ||
| Q1 25 | — | 19.5% | ||
| Q4 24 | — | -47.0% | ||
| Q3 24 | — | -30.0% | ||
| Q2 24 | — | -28.9% | ||
| Q1 24 | — | -1.5% |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.9% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | — | 0.4% | ||
| Q4 24 | — | 7.1% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 0.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.11× | — | ||
| 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
STEM
Segment breakdown not available.
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
