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Side-by-side financial comparison of Tonix Pharmaceuticals Holding Corp. (TNXP) and Zedge, Inc. (ZDGE). Click either name above to swap in a different company.
Zedge, Inc. is the larger business by last-quarter revenue ($7.6M vs $5.4M, roughly 1.4× Tonix Pharmaceuticals Holding Corp.). Zedge, Inc. runs the higher net margin — 10.4% vs -870.3%, a 880.7% gap on every dollar of revenue. On growth, Tonix Pharmaceuticals Holding Corp. posted the faster year-over-year revenue change (108.8% vs 5.8%). Zedge, Inc. produced more free cash flow last quarter ($808.0K vs $-41.5M). Over the past eight quarters, Tonix Pharmaceuticals Holding Corp.'s revenue compounded faster (47.4% CAGR vs -1.0%).
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.
Zedge is a content distribution platform that provides consumers with a way to personalize their mobile devices. It has offices in Trondheim, Vilnius, and New York City.
TNXP vs ZDGE — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $5.4M | $7.6M |
| Net Profit | $-46.9M | $788.0K |
| Gross Margin | 80.4% | — |
| Operating Margin | -895.8% | 12.0% |
| Net Margin | -870.3% | 10.4% |
| Revenue YoY | 108.8% | 5.8% |
| Net Profit YoY | -112.2% | 332.4% |
| EPS (diluted) | $-4.28 | $0.06 |
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 | $7.6M | ||
| Q3 25 | $3.3M | $7.5M | ||
| Q2 25 | $2.0M | $7.8M | ||
| Q1 25 | $2.4M | $7.0M | ||
| Q4 24 | $2.6M | $7.2M | ||
| Q3 24 | $2.8M | $7.6M | ||
| Q2 24 | $2.2M | $7.7M | ||
| Q1 24 | $2.5M | $7.8M |
| Q4 25 | $-46.9M | $788.0K | ||
| Q3 25 | $-32.0M | $-559.0K | ||
| Q2 25 | $-28.3M | $185.0K | ||
| Q1 25 | $-16.8M | $-1.7M | ||
| Q4 24 | $-22.1M | $-339.0K | ||
| Q3 24 | $-14.2M | $-39.0K | ||
| Q2 24 | $-78.8M | $113.0K | ||
| Q1 24 | $-14.9M | $-9.2M |
| Q4 25 | 80.4% | — | ||
| Q3 25 | 58.4% | — | ||
| Q2 25 | -63.8% | — | ||
| Q1 25 | 61.2% | — | ||
| Q4 24 | 54.2% | — | ||
| Q3 24 | 44.9% | — | ||
| Q2 24 | -52.5% | — | ||
| Q1 24 | 33.1% | — |
| Q4 25 | -895.8% | 12.0% | ||
| Q3 25 | -1005.1% | -9.6% | ||
| Q2 25 | -1416.2% | 2.1% | ||
| Q1 25 | -660.9% | -31.8% | ||
| Q4 24 | -870.6% | -6.4% | ||
| Q3 24 | -551.2% | -0.8% | ||
| Q2 24 | -3501.6% | -1.7% | ||
| Q1 24 | -860.2% | -153.5% |
| Q4 25 | -870.3% | 10.4% | ||
| Q3 25 | -972.9% | -7.5% | ||
| Q2 25 | -1415.0% | 2.4% | ||
| Q1 25 | -692.8% | -24.1% | ||
| Q4 24 | -856.2% | -4.7% | ||
| Q3 24 | -503.6% | -0.5% | ||
| Q2 24 | -3567.8% | 1.5% | ||
| Q1 24 | -601.9% | -118.8% |
| Q4 25 | $-4.28 | $0.06 | ||
| Q3 25 | $-3.59 | $-0.04 | ||
| Q2 25 | $-3.86 | $0.01 | ||
| Q1 25 | $-2.84 | $-0.12 | ||
| Q4 24 | $2302.65 | $-0.02 | ||
| Q3 24 | $-22.68 | $0.00 | ||
| Q2 24 | $-1920.85 | $0.01 | ||
| Q1 24 | $-535.72 | $-0.66 |
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 | $18.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $245.2M | $25.9M |
| Total Assets | $277.2M | $36.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $207.6M | $18.5M | ||
| Q3 25 | $190.1M | $18.6M | ||
| Q2 25 | $125.3M | $20.4M | ||
| Q1 25 | $131.7M | $20.1M | ||
| Q4 24 | $98.8M | $20.2M | ||
| Q3 24 | $28.2M | $20.0M | ||
| Q2 24 | $4.2M | $19.9M | ||
| Q1 24 | $7.0M | $18.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $8.7M | — | ||
| Q3 24 | $9.4M | — | ||
| Q2 24 | $10.1M | — | ||
| Q1 24 | $10.8M | — |
| Q4 25 | $245.2M | $25.9M | ||
| Q3 25 | $231.1M | $25.9M | ||
| Q2 25 | $168.0M | $28.6M | ||
| Q1 25 | $180.4M | $28.2M | ||
| Q4 24 | $139.6M | $30.1M | ||
| Q3 24 | $74.2M | $30.9M | ||
| Q2 24 | $42.1M | $30.9M | ||
| Q1 24 | $108.1M | $30.7M |
| Q4 25 | $277.2M | $36.0M | ||
| Q3 25 | $252.4M | $35.7M | ||
| Q2 25 | $187.4M | $37.8M | ||
| Q1 25 | $192.9M | $37.1M | ||
| Q4 24 | $162.9M | $38.2M | ||
| Q3 24 | $95.0M | $38.2M | ||
| Q2 24 | $70.3M | $38.1M | ||
| Q1 24 | $135.3M | $37.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.06× | — | ||
| 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 | $825.0K |
| Free Cash FlowOCF − Capex | $-41.5M | $808.0K |
| FCF MarginFCF / Revenue | -770.4% | 10.6% |
| Capex IntensityCapex / Revenue | 34.8% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 1.05× |
| TTM Free Cash FlowTrailing 4 quarters | $-103.2M | $3.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-39.6M | $825.0K | ||
| Q3 25 | $-28.8M | $674.0K | ||
| Q2 25 | $-14.8M | $870.0K | ||
| Q1 25 | $-16.6M | $708.0K | ||
| Q4 24 | $-14.6M | $1.2M | ||
| Q3 24 | $-18.8M | $695.0K | ||
| Q2 24 | $-9.9M | $2.3M | ||
| Q1 24 | $-17.6M | $1.6M |
| Q4 25 | $-41.5M | $808.0K | ||
| Q3 25 | $-29.7M | $640.0K | ||
| Q2 25 | $-15.4M | $851.0K | ||
| Q1 25 | $-16.6M | $689.0K | ||
| Q4 24 | $-14.6M | $1.2M | ||
| Q3 24 | $-18.8M | $683.0K | ||
| Q2 24 | — | $2.3M | ||
| Q1 24 | $-17.7M | $1.6M |
| Q4 25 | -770.4% | 10.6% | ||
| Q3 25 | -904.1% | 8.6% | ||
| Q2 25 | -768.8% | 11.0% | ||
| Q1 25 | -682.8% | 9.9% | ||
| Q4 24 | -566.7% | 16.1% | ||
| Q3 24 | -666.5% | 9.0% | ||
| Q2 24 | — | 30.4% | ||
| Q1 24 | -712.4% | 20.0% |
| Q4 25 | 34.8% | 0.2% | ||
| Q3 25 | 29.2% | 0.5% | ||
| Q2 25 | 26.4% | 0.2% | ||
| Q1 25 | 0.2% | 0.3% | ||
| Q4 24 | 0.1% | 0.2% | ||
| Q3 24 | 0.3% | 0.2% | ||
| Q2 24 | 0.0% | 0.2% | ||
| Q1 24 | 4.4% | 0.0% |
| Q4 25 | — | 1.05× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 4.70× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 20.73× | ||
| Q1 24 | — | — |
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% |
ZDGE
| Zedge Marketplace | $7.1M | 94% |
| Other | $468.0K | 6% |
