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Side-by-side financial comparison of Valneva SE (VALN) and Voyager Technologies, Inc. (VOYG). Click either name above to swap in a different company.
Valneva SE is the larger business by last-quarter revenue ($36.2M vs $35.2M, roughly 1.0× Voyager Technologies, Inc.). Valneva SE runs the higher net margin — -54.1% vs -130.4%, a 76.3% gap on every dollar of revenue.
Valneva SE is a specialty vaccine company registered in Saint-Herblain, France, developing, producing and commercializing vaccines for infectious diseases. It has manufacturing sites in Livingston, Scotland; Solna, Sweden, and Vienna, Austria; with other offices in France, Canada and the United States.
VALN vs VOYG — Head-to-Head
Income Statement — Q1 FY2023 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $36.2M | $35.2M |
| Net Profit | $-19.6M | $-45.9M |
| Gross Margin | 38.9% | -4.4% |
| Operating Margin | -49.5% | — |
| Net Margin | -54.1% | -130.4% |
| Revenue YoY | — | 2.1% |
| Net Profit YoY | — | -64.5% |
| EPS (diluted) | — | $-0.75 |
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.
| Q1 26 | — | $35.2M | ||
| Q4 25 | — | $46.7M | ||
| Q3 25 | — | $39.6M | ||
| Q2 25 | — | $45.7M | ||
| Q1 23 | $36.2M | — | ||
| Q2 22 | $93.2M | — |
| Q1 26 | — | $-45.9M | ||
| Q4 25 | — | $-33.0M | ||
| Q3 25 | — | $-16.3M | ||
| Q2 25 | — | $-31.4M | ||
| Q1 23 | $-19.6M | — | ||
| Q2 22 | — | — |
| Q1 26 | — | -4.4% | ||
| Q4 25 | — | 21.4% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | — | 18.0% | ||
| Q1 23 | 38.9% | — | ||
| Q2 22 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | -60.7% | ||
| Q2 25 | — | -52.8% | ||
| Q1 23 | -49.5% | — | ||
| Q2 22 | -161.3% | — |
| Q1 26 | — | -130.4% | ||
| Q4 25 | — | -70.7% | ||
| Q3 25 | — | -41.1% | ||
| Q2 25 | — | -68.7% | ||
| Q1 23 | -54.1% | — | ||
| Q2 22 | — | — |
| Q1 26 | — | $-0.75 | ||
| Q4 25 | — | $-0.52 | ||
| Q3 25 | — | $-0.28 | ||
| Q2 25 | — | $-1.23 | ||
| Q1 23 | — | — | ||
| Q2 22 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $274.8M | $429.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $221.2M | $404.5M |
| Total Assets | $637.2M | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $429.4M | ||
| Q4 25 | — | $491.3M | ||
| Q3 25 | — | $413.3M | ||
| Q2 25 | — | $468.9M | ||
| Q1 23 | $274.8M | — | ||
| Q2 22 | $363.1M | — |
| Q1 26 | — | $404.5M | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $590.9M | ||
| Q2 25 | — | $554.7M | ||
| Q1 23 | $221.2M | — | ||
| Q2 22 | $100.7M | — |
| Q1 26 | — | $1.0B | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $727.8M | ||
| Q2 25 | — | $685.3M | ||
| Q1 23 | $637.2M | — | ||
| Q2 22 | $783.1M | — |
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 | $-26.3M | $-39.7M |
| Free Cash FlowOCF − Capex | — | $-66.8M |
| FCF MarginFCF / Revenue | — | -189.5% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-263.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-39.7M | ||
| Q4 25 | — | $-60.9M | ||
| Q3 25 | — | $-15.1M | ||
| Q2 25 | — | $-30.9M | ||
| Q1 23 | $-26.3M | — | ||
| Q2 22 | — | — |
| Q1 26 | — | $-66.8M | ||
| Q4 25 | — | $-54.5M | ||
| Q3 25 | — | $-53.8M | ||
| Q2 25 | — | $-88.8M | ||
| Q1 23 | — | — | ||
| Q2 22 | — | — |
| Q1 26 | — | -189.5% | ||
| Q4 25 | — | -116.9% | ||
| Q3 25 | — | -135.8% | ||
| Q2 25 | — | -194.4% | ||
| Q1 23 | — | — | ||
| Q2 22 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 97.8% | ||
| Q2 25 | — | 126.7% | ||
| Q1 23 | — | — | ||
| Q2 22 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
