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Side-by-side financial comparison of Voyager Technologies, Inc. (VOYG) and Viridian Therapeutics, Inc.\DE (VRDN). Click either name above to swap in a different company.
Viridian Therapeutics, Inc.\DE is the larger business by last-quarter revenue ($70.6M vs $39.6M, roughly 1.8× Voyager Technologies, Inc.). Voyager Technologies, Inc. runs the higher net margin — -41.1% vs -49.0%, a 7.9% gap on every dollar of revenue. Voyager Technologies, Inc. produced more free cash flow last quarter ($-53.8M vs $-84.7M).
Viridian Therapeutics is a clinical-stage biotechnology firm developing novel disease-modifying therapies for rare, serious autoimmune and inflammatory diseases. Its lead pipeline candidate targets thyroid eye disease, a debilitating orbital disorder, with primary market focus on North America and Europe.
VOYG vs VRDN — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $39.6M | $70.6M |
| Net Profit | $-16.3M | $-34.6M |
| Gross Margin | 15.4% | — |
| Operating Margin | -60.7% | -56.7% |
| Net Margin | -41.1% | -49.0% |
| Revenue YoY | — | 81958.1% |
| Net Profit YoY | — | 54.9% |
| EPS (diluted) | $-0.28 | — |
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.
| Q3 25 | $39.6M | $70.6M | ||
| Q2 25 | $45.7M | — |
| Q3 25 | $-16.3M | $-34.6M | ||
| Q2 25 | $-31.4M | — |
| Q3 25 | 15.4% | — | ||
| Q2 25 | 18.0% | — |
| Q3 25 | -60.7% | -56.7% | ||
| Q2 25 | -52.8% | — |
| Q3 25 | -41.1% | -49.0% | ||
| Q2 25 | -68.7% | — |
| Q3 25 | $-0.28 | — | ||
| Q2 25 | $-1.23 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $413.3M | $490.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $590.9M | $503.0M |
| Total Assets | $727.8M | $577.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $413.3M | $490.9M | ||
| Q2 25 | $468.9M | — |
| Q3 25 | $590.9M | $503.0M | ||
| Q2 25 | $554.7M | — |
| Q3 25 | $727.8M | $577.1M | ||
| Q2 25 | $685.3M | — |
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 | $-15.1M | $-84.6M |
| Free Cash FlowOCF − Capex | $-53.8M | $-84.7M |
| FCF MarginFCF / Revenue | -135.8% | -120.1% |
| Capex IntensityCapex / Revenue | 97.8% | 0.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-15.1M | $-84.6M | ||
| Q2 25 | $-30.9M | — |
| Q3 25 | $-53.8M | $-84.7M | ||
| Q2 25 | $-88.8M | — |
| Q3 25 | -135.8% | -120.1% | ||
| Q2 25 | -194.4% | — |
| Q3 25 | 97.8% | 0.2% | ||
| Q2 25 | 126.7% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
VOYG
| US Government | $26.9M | 68% |
| Space Solutions | $11.7M | 30% |
| Other | $1.0M | 3% |
VRDN
Segment breakdown not available.
