vs
Side-by-side financial comparison of Taysha Gene Therapies, Inc. (TSHA) and Velo3D, Inc. (VELO). Click either name above to swap in a different company.
Velo3D, Inc. is the larger business by last-quarter revenue ($9.4M vs $5.5M, roughly 1.7× Taysha Gene Therapies, Inc.). Velo3D, Inc. runs the higher net margin — -231.9% vs -507.8%, a 275.8% gap on every dollar of revenue. On growth, Taysha Gene Therapies, Inc. posted the faster year-over-year revenue change (171.3% vs -25.2%). Over the past eight quarters, Taysha Gene Therapies, Inc.'s revenue compounded faster (26.8% CAGR vs -1.8%).
Taysha Gene Therapies, Inc. is a clinical-stage biotechnology company specializing in developing adeno-associated virus (AAV)-based gene therapies for rare monogenic central nervous system disorders with high unmet medical needs. Its core pipeline targets serious life-threatening neurological conditions, with primary operations and market focus across North America and European regions.
Velo3D, Inc. develops and sells advanced end-to-end metal additive manufacturing (3D printing) solutions, comprising industrial-grade printers, specialized processing software, and high-performance metal materials. It primarily serves global aerospace, defense, energy, semiconductor and industrial manufacturing markets, enabling customers to produce complex, high-precision metal parts that are difficult to manufacture with traditional methods.
TSHA vs VELO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $5.5M | $9.4M |
| Net Profit | $-27.9M | $-21.9M |
| Gross Margin | — | -73.6% |
| Operating Margin | -516.0% | -231.0% |
| Net Margin | -507.8% | -231.9% |
| Revenue YoY | 171.3% | -25.2% |
| Net Profit YoY | -48.3% | -2.9% |
| EPS (diluted) | $-0.08 | $-0.87 |
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 | $5.5M | $9.4M | ||
| Q3 25 | $0 | $13.6M | ||
| Q2 25 | $2.0M | $13.6M | ||
| Q1 25 | $2.3M | $9.3M | ||
| Q4 24 | $2.0M | $12.6M | ||
| Q3 24 | $1.8M | $8.2M | ||
| Q2 24 | $1.1M | $10.3M | ||
| Q1 24 | $3.4M | $9.8M |
| Q4 25 | $-27.9M | $-21.9M | ||
| Q3 25 | $-32.7M | $-11.2M | ||
| Q2 25 | $-26.9M | $-13.3M | ||
| Q1 25 | $-21.5M | $-25.0M | ||
| Q4 24 | $-18.8M | $-21.3M | ||
| Q3 24 | $-25.5M | $-21.9M | ||
| Q2 24 | $-20.9M | $935.0K | ||
| Q1 24 | $-24.1M | $-27.5M |
| Q4 25 | — | -73.6% | ||
| Q3 25 | — | 3.2% | ||
| Q2 25 | — | -11.7% | ||
| Q1 25 | — | 7.5% | ||
| Q4 24 | — | -3.5% | ||
| Q3 24 | — | 49.4% | ||
| Q2 24 | — | -28.0% | ||
| Q1 24 | — | -28.8% |
| Q4 25 | -516.0% | -231.0% | ||
| Q3 25 | — | -73.3% | ||
| Q2 25 | -1347.1% | -85.4% | ||
| Q1 25 | -930.5% | -123.6% | ||
| Q4 24 | -985.8% | -167.0% | ||
| Q3 24 | -1448.4% | -213.8% | ||
| Q2 24 | -1915.4% | -187.7% | ||
| Q1 24 | -713.3% | -211.1% |
| Q4 25 | -507.8% | -231.9% | ||
| Q3 25 | — | -82.0% | ||
| Q2 25 | -1353.6% | -97.7% | ||
| Q1 25 | -935.2% | -268.4% | ||
| Q4 24 | -929.0% | -168.5% | ||
| Q3 24 | -1427.5% | -265.3% | ||
| Q2 24 | -1882.0% | 9.0% | ||
| Q1 24 | -705.4% | -281.2% |
| Q4 25 | $-0.08 | $-0.87 | ||
| Q3 25 | $-0.09 | $-0.65 | ||
| Q2 25 | $-0.09 | $-0.94 | ||
| Q1 25 | $-0.08 | $-1.87 | ||
| Q4 24 | $-0.07 | $7.06 | ||
| Q3 24 | $-0.10 | $-35.52 | ||
| Q2 24 | $-0.09 | $1.65 | ||
| Q1 24 | $-0.10 | $-55.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $319.8M | $39.0M |
| Total DebtLower is stronger | — | $31.0M |
| Stockholders' EquityBook value | $246.9M | $38.2M |
| Total Assets | $343.3M | $105.3M |
| Debt / EquityLower = less leverage | — | 0.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $319.8M | $39.0M | ||
| Q3 25 | $297.3M | $11.8M | ||
| Q2 25 | $312.8M | $854.0K | ||
| Q1 25 | $116.6M | $3.9M | ||
| Q4 24 | $139.0M | $1.2M | ||
| Q3 24 | $157.7M | $1.6M | ||
| Q2 24 | $172.7M | $3.2M | ||
| Q1 24 | $124.0M | $10.9M |
| Q4 25 | — | $31.0M | ||
| Q3 25 | — | $23.0M | ||
| Q2 25 | — | $22.5M | ||
| Q1 25 | — | $21.7M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $32.3M | ||
| Q2 24 | — | $33.5M | ||
| Q1 24 | — | $44.0M |
| Q4 25 | $246.9M | $38.2M | ||
| Q3 25 | $219.0M | $29.9M | ||
| Q2 25 | $248.7M | $21.4M | ||
| Q1 25 | $55.1M | $32.8M | ||
| Q4 24 | $71.5M | $39.7M | ||
| Q3 24 | $88.8M | $34.4M | ||
| Q2 24 | $108.9M | $52.1M | ||
| Q1 24 | $53.8M | $45.5M |
| Q4 25 | $343.3M | $105.3M | ||
| Q3 25 | $316.6M | $93.7M | ||
| Q2 25 | $333.3M | $78.4M | ||
| Q1 25 | $138.4M | $91.3M | ||
| Q4 24 | $160.4M | $89.2M | ||
| Q3 24 | $180.2M | $110.8M | ||
| Q2 24 | $200.4M | $116.7M | ||
| Q1 24 | $153.0M | $136.1M |
| Q4 25 | — | 0.81× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.97× |
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 | $-26.7M | $-7.7M |
| Free Cash FlowOCF − Capex | — | $-8.3M |
| FCF MarginFCF / Revenue | — | -88.3% |
| Capex IntensityCapex / Revenue | — | 6.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-26.7M | $-7.7M | ||
| Q3 25 | $-24.2M | $-6.0M | ||
| Q2 25 | $-20.2M | $-1.2M | ||
| Q1 25 | $-22.0M | $-12.3M | ||
| Q4 24 | $-18.3M | $-2.2M | ||
| Q3 24 | $-21.6M | $-2.0M | ||
| Q2 24 | $-21.5M | $-8.0M | ||
| Q1 24 | $-19.8M | $-20.5M |
| Q4 25 | — | $-8.3M | ||
| Q3 25 | $-24.3M | $-6.3M | ||
| Q2 25 | — | $-3.0M | ||
| Q1 25 | — | — | ||
| Q4 24 | $-18.3M | $-2.2M | ||
| Q3 24 | $-21.6M | $-2.0M | ||
| Q2 24 | $-21.7M | $-8.0M | ||
| Q1 24 | $-19.9M | $-20.5M |
| Q4 25 | — | -88.3% | ||
| Q3 25 | — | -46.5% | ||
| Q2 25 | — | -22.2% | ||
| Q1 25 | — | — | ||
| Q4 24 | -905.5% | -17.7% | ||
| Q3 24 | -1210.9% | -24.2% | ||
| Q2 24 | -1951.9% | -77.1% | ||
| Q1 24 | -584.5% | -209.8% |
| Q4 25 | — | 6.4% | ||
| Q3 25 | — | 2.3% | ||
| Q2 25 | — | 13.3% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | 0.1% | 0.2% | ||
| Q3 24 | 2.0% | 0.2% | ||
| Q2 24 | 18.1% | 0.0% | ||
| Q1 24 | 4.1% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -8.52× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
