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Side-by-side financial comparison of STEM, INC. (STEM) and Vanda Pharmaceuticals Inc. (VNDA). Click either name above to swap in a different company.
Vanda Pharmaceuticals Inc. is the larger business by last-quarter revenue ($57.2M vs $47.1M, roughly 1.2× STEM, INC.). STEM, INC. runs the higher net margin — -33.9% vs -246.8%, a 212.9% gap on every dollar of revenue. On growth, Vanda Pharmaceuticals Inc. posted the faster year-over-year revenue change (7.6% vs -15.6%). Over the past eight quarters, STEM, INC.'s revenue compounded faster (36.1% CAGR vs 9.8%).
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.
Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on developing and commercializing innovative therapies for central nervous system disorders. Its key marketed products cover indications including sleep-wake cycle disturbances and schizophrenia, with core operations and primary sales markets concentrated in North America, catering to patient groups with significant unmet medical needs.
STEM vs VNDA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $47.1M | $57.2M |
| Net Profit | $-16.0M | $-141.2M |
| Gross Margin | 48.9% | — |
| Operating Margin | -17.7% | -70.5% |
| Net Margin | -33.9% | -246.8% |
| Revenue YoY | -15.6% | 7.6% |
| Net Profit YoY | 68.8% | -2774.3% |
| EPS (diluted) | $-4.40 | $-2.40 |
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 | $57.2M | ||
| Q3 25 | $38.2M | $56.3M | ||
| Q2 25 | $38.4M | $52.6M | ||
| Q1 25 | $32.5M | $50.0M | ||
| Q4 24 | $55.8M | $53.2M | ||
| Q3 24 | $29.3M | $47.7M | ||
| Q2 24 | $34.0M | $50.5M | ||
| Q1 24 | $25.5M | $47.5M |
| Q4 25 | $-16.0M | $-141.2M | ||
| Q3 25 | $-23.8M | $-22.6M | ||
| Q2 25 | $202.5M | $-27.2M | ||
| Q1 25 | $-25.0M | $-29.5M | ||
| Q4 24 | $-51.1M | $-4.9M | ||
| Q3 24 | $-148.3M | $-5.3M | ||
| Q2 24 | $-582.3M | $-4.5M | ||
| Q1 24 | $-72.3M | $-4.1M |
| Q4 25 | 48.9% | — | ||
| Q3 25 | 35.5% | — | ||
| Q2 25 | 33.4% | — | ||
| Q1 25 | 32.4% | — | ||
| Q4 24 | -4.4% | — | ||
| Q3 24 | 21.2% | — | ||
| Q2 24 | 27.6% | — | ||
| Q1 24 | -95.0% | — |
| Q4 25 | -17.7% | -70.5% | ||
| Q3 25 | -33.6% | -55.6% | ||
| Q2 25 | -34.8% | -73.2% | ||
| Q1 25 | -65.0% | -82.0% | ||
| Q4 24 | -84.4% | -19.3% | ||
| Q3 24 | -493.2% | -23.1% | ||
| Q2 24 | -1705.5% | -20.1% | ||
| Q1 24 | -267.0% | -19.5% |
| Q4 25 | -33.9% | -246.8% | ||
| Q3 25 | -62.2% | -40.1% | ||
| Q2 25 | 527.8% | -51.7% | ||
| Q1 25 | -76.9% | -58.9% | ||
| Q4 24 | -91.6% | -9.2% | ||
| Q3 24 | -506.3% | -11.2% | ||
| Q2 24 | -1712.6% | -9.0% | ||
| Q1 24 | -283.9% | -8.7% |
| Q4 25 | $-4.40 | $-2.40 | ||
| Q3 25 | $-2.84 | $-0.38 | ||
| Q2 25 | $-1.79 | $-0.46 | ||
| Q1 25 | $-0.15 | $-0.50 | ||
| Q4 24 | $-15.29 | $-0.09 | ||
| Q3 24 | $-18.24 | $-0.09 | ||
| Q2 24 | $-71.81 | $-0.08 | ||
| Q1 24 | $-0.46 | $-0.07 |
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 | $84.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-249.4M | $327.2M |
| Total Assets | $308.9M | $488.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $48.9M | $84.9M | ||
| Q3 25 | $43.1M | $70.0M | ||
| Q2 25 | $40.8M | $81.0M | ||
| Q1 25 | $58.6M | $111.8M | ||
| Q4 24 | $56.3M | $102.3M | ||
| Q3 24 | $75.4M | $100.5M | ||
| Q2 24 | $89.6M | $103.0M | ||
| Q1 24 | $112.8M | $125.2M |
| Q4 25 | $-249.4M | $327.2M | ||
| Q3 25 | $-235.7M | $466.0M | ||
| Q2 25 | $-214.1M | $486.3M | ||
| Q1 25 | $-417.5M | $511.4M | ||
| Q4 24 | $-398.4M | $538.5M | ||
| Q3 24 | $-344.1M | $541.2M | ||
| Q2 24 | $-203.2M | $542.5M | ||
| Q1 24 | $371.6M | $544.0M |
| Q4 25 | $308.9M | $488.9M | ||
| Q3 25 | $362.6M | $601.1M | ||
| Q2 25 | $379.2M | $624.7M | ||
| Q1 25 | $405.1M | $631.9M | ||
| Q4 24 | $437.4M | $656.2M | ||
| Q3 24 | $537.8M | $645.1M | ||
| Q2 24 | $691.5M | $651.4M | ||
| Q1 24 | $1.3B | $652.7M |
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 | $-29.4M |
| Free Cash FlowOCF − Capex | — | $-29.5M |
| FCF MarginFCF / Revenue | — | -51.6% |
| Capex IntensityCapex / Revenue | — | 0.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-110.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.2M | $-29.4M | ||
| Q3 25 | $11.4M | $-31.6M | ||
| Q2 25 | $-21.3M | $-15.3M | ||
| Q1 25 | $8.5M | $-33.1M | ||
| Q4 24 | $-14.7M | $-1.8M | ||
| Q3 24 | $-9.4M | $-14.6M | ||
| Q2 24 | $-11.9M | $-6.9M | ||
| Q1 24 | $-621.0K | $7.6M |
| Q4 25 | — | $-29.5M | ||
| Q3 25 | — | $-31.8M | ||
| Q2 25 | — | $-15.6M | ||
| Q1 25 | — | $-33.6M | ||
| Q4 24 | — | $-2.0M | ||
| Q3 24 | — | $-14.7M | ||
| Q2 24 | — | $-7.0M | ||
| Q1 24 | — | $7.6M |
| Q4 25 | — | -51.6% | ||
| Q3 25 | — | -56.5% | ||
| Q2 25 | — | -29.6% | ||
| Q1 25 | — | -67.1% | ||
| Q4 24 | — | -3.8% | ||
| Q3 24 | — | -30.9% | ||
| Q2 24 | — | -13.9% | ||
| Q1 24 | — | 15.9% |
| Q4 25 | — | 0.2% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.9% | ||
| Q4 24 | — | 0.4% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.2% | ||
| Q1 24 | — | 0.0% |
| 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.
VNDA
| Fanapt | $33.2M | 58% |
| Hetlioz | $16.4M | 29% |
| PONVORY | $7.6M | 13% |
