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Side-by-side financial comparison of Tonix Pharmaceuticals Holding Corp. (TNXP) and VirTra, Inc (VTSI). Click either name above to swap in a different company.
Tonix Pharmaceuticals Holding Corp. is the larger business by last-quarter revenue ($5.4M vs $2.9M, roughly 1.9× VirTra, Inc). VirTra, Inc runs the higher net margin — -27.2% vs -870.3%, a 843.1% gap on every dollar of revenue. On growth, Tonix Pharmaceuticals Holding Corp. posted the faster year-over-year revenue change (108.8% vs -46.5%). VirTra, Inc produced more free cash flow last quarter ($-2.1M vs $-41.5M). Over the past eight quarters, Tonix Pharmaceuticals Holding Corp.'s revenue compounded faster (47.4% CAGR vs -37.0%).
Tonix Pharmaceuticals is a pharmaceutical company based in Chatham, New Jersey that focuses on repurposed drugs for central nervous system conditions and as of 2020 was also pursuing a vaccine for COVID-19 and a biodefense project.
VirTra, Inc. is a global provider of highly realistic immersive training simulators and supporting curriculum, primarily serving law enforcement agencies, military units, and public safety organizations. Its scenario-based training systems are designed to enhance frontline personnel's decision-making, de-escalation skills, and on-duty operational safety.
TNXP vs VTSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.4M | $2.9M |
| Net Profit | $-46.9M | $-792.4K |
| Gross Margin | 80.4% | 57.5% |
| Operating Margin | -895.8% | -47.9% |
| Net Margin | -870.3% | -27.2% |
| Revenue YoY | 108.8% | -46.5% |
| Net Profit YoY | -112.2% | 10.8% |
| EPS (diluted) | $-4.28 | $-0.08 |
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 | $5.4M | $2.9M | ||
| Q3 25 | $3.3M | $5.3M | ||
| Q2 25 | $2.0M | $7.0M | ||
| Q1 25 | $2.4M | $7.2M | ||
| Q4 24 | $2.6M | $5.4M | ||
| Q3 24 | $2.8M | $7.5M | ||
| Q2 24 | $2.2M | $6.1M | ||
| Q1 24 | $2.5M | $7.3M |
| Q4 25 | $-46.9M | $-792.4K | ||
| Q3 25 | $-32.0M | $-388.6K | ||
| Q2 25 | $-28.3M | $175.3K | ||
| Q1 25 | $-16.8M | $1.3M | ||
| Q4 24 | $-22.1M | $-888.3K | ||
| Q3 24 | $-14.2M | $583.1K | ||
| Q2 24 | $-78.8M | $1.2M | ||
| Q1 24 | $-14.9M | $468.2K |
| Q4 25 | 80.4% | 57.5% | ||
| Q3 25 | 58.4% | 65.8% | ||
| Q2 25 | -63.8% | 69.0% | ||
| Q1 25 | 61.2% | 72.6% | ||
| Q4 24 | 54.2% | 67.5% | ||
| Q3 24 | 44.9% | 73.5% | ||
| Q2 24 | -52.5% | 90.9% | ||
| Q1 24 | 33.1% | 64.2% |
| Q4 25 | -895.8% | -47.9% | ||
| Q3 25 | -1005.1% | -8.4% | ||
| Q2 25 | -1416.2% | 13.1% | ||
| Q1 25 | -660.9% | 19.1% | ||
| Q4 24 | -870.6% | -9.9% | ||
| Q3 24 | -551.2% | 10.1% | ||
| Q2 24 | -3501.6% | 18.6% | ||
| Q1 24 | -860.2% | 8.9% |
| Q4 25 | -870.3% | -27.2% | ||
| Q3 25 | -972.9% | -7.3% | ||
| Q2 25 | -1415.0% | 2.5% | ||
| Q1 25 | -692.8% | 17.7% | ||
| Q4 24 | -856.2% | -16.3% | ||
| Q3 24 | -503.6% | 7.8% | ||
| Q2 24 | -3567.8% | 19.8% | ||
| Q1 24 | -601.9% | 6.4% |
| Q4 25 | $-4.28 | $-0.08 | ||
| Q3 25 | $-3.59 | $-0.03 | ||
| Q2 25 | $-3.86 | $0.02 | ||
| Q1 25 | $-2.84 | $0.11 | ||
| Q4 24 | $2302.65 | $-0.08 | ||
| Q3 24 | $-22.68 | $0.05 | ||
| Q2 24 | $-1920.85 | $0.11 | ||
| Q1 24 | $-535.72 | $0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $207.6M | $18.6M |
| Total DebtLower is stronger | — | $7.5M |
| Stockholders' EquityBook value | $245.2M | $45.6M |
| Total Assets | $277.2M | $65.1M |
| Debt / EquityLower = less leverage | — | 0.17× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $207.6M | $18.6M | ||
| Q3 25 | $190.1M | $20.8M | ||
| Q2 25 | $125.3M | $20.7M | ||
| Q1 25 | $131.7M | $17.6M | ||
| Q4 24 | $98.8M | $18.0M | ||
| Q3 24 | $28.2M | $19.7M | ||
| Q2 24 | $4.2M | $18.4M | ||
| Q1 24 | $7.0M | $22.4M |
| Q4 25 | — | $7.5M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.7M | $7.8M | ||
| Q3 24 | $9.4M | — | ||
| Q2 24 | $10.1M | — | ||
| Q1 24 | $10.8M | — |
| Q4 25 | $245.2M | $45.6M | ||
| Q3 25 | $231.1M | $46.3M | ||
| Q2 25 | $168.0M | $46.8M | ||
| Q1 25 | $180.4M | $46.5M | ||
| Q4 24 | $139.6M | $45.2M | ||
| Q3 24 | $74.2M | $45.7M | ||
| Q2 24 | $42.1M | $44.9M | ||
| Q1 24 | $108.1M | $43.5M |
| Q4 25 | $277.2M | $65.1M | ||
| Q3 25 | $252.4M | $66.2M | ||
| Q2 25 | $187.4M | $67.4M | ||
| Q1 25 | $192.9M | $66.8M | ||
| Q4 24 | $162.9M | $65.0M | ||
| Q3 24 | $95.0M | $66.1M | ||
| Q2 24 | $70.3M | $66.0M | ||
| Q1 24 | $135.3M | $69.4M |
| Q4 25 | — | 0.17× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.06× | 0.17× | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | 0.24× | — | ||
| Q1 24 | 0.10× | — |
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 | $-39.6M | $-1.5M |
| Free Cash FlowOCF − Capex | $-41.5M | $-2.1M |
| FCF MarginFCF / Revenue | -770.4% | -72.5% |
| Capex IntensityCapex / Revenue | 34.8% | 21.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-103.2M | $2.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-39.6M | $-1.5M | ||
| Q3 25 | $-28.8M | $36.3K | ||
| Q2 25 | $-14.8M | $6.0M | ||
| Q1 25 | $-16.6M | $65.7K | ||
| Q4 24 | $-14.6M | $-908.7K | ||
| Q3 24 | $-18.8M | $897.7K | ||
| Q2 24 | $-9.9M | $-3.9M | ||
| Q1 24 | $-17.6M | $5.1M |
| Q4 25 | $-41.5M | $-2.1M | ||
| Q3 25 | $-29.7M | $-61.2K | ||
| Q2 25 | $-15.4M | $5.4M | ||
| Q1 25 | $-16.6M | $-362.7K | ||
| Q4 24 | $-14.6M | $-1.1M | ||
| Q3 24 | $-18.8M | $814.2K | ||
| Q2 24 | — | $-3.9M | ||
| Q1 24 | $-17.7M | $3.6M |
| Q4 25 | -770.4% | -72.5% | ||
| Q3 25 | -904.1% | -1.1% | ||
| Q2 25 | -768.8% | 77.6% | ||
| Q1 25 | -682.8% | -5.1% | ||
| Q4 24 | -566.7% | -19.5% | ||
| Q3 24 | -666.5% | 10.9% | ||
| Q2 24 | — | -64.7% | ||
| Q1 24 | -712.4% | 48.9% |
| Q4 25 | 34.8% | 21.2% | ||
| Q3 25 | 29.2% | 1.8% | ||
| Q2 25 | 26.4% | 8.1% | ||
| Q1 25 | 0.2% | 6.0% | ||
| Q4 24 | 0.1% | 2.8% | ||
| Q3 24 | 0.3% | 1.1% | ||
| Q2 24 | 0.0% | 1.0% | ||
| Q1 24 | 4.4% | 21.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 34.12× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.54× | ||
| Q2 24 | — | -3.22× | ||
| Q1 24 | — | 10.97× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TNXP
| Zembrace Symtouch | $3.1M | 58% |
| Other | $2.3M | 42% |
VTSI
Segment breakdown not available.
