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Side-by-side financial comparison of VisionWave Holdings, Inc. (VWAV) and Xilio Therapeutics, Inc. (XLO). Click either name above to swap in a different company.

Xilio Therapeutics, Inc. is the larger business by last-quarter revenue ($13.7M vs $10.0M, roughly 1.4× VisionWave Holdings, Inc.). Xilio Therapeutics, Inc. runs the higher net margin — 75.7% vs -69.4%, a 145.1% gap on every dollar of revenue.

CoMix Wave Films, Inc. is a Japanese independent animation film studio and distribution company based in Chiyoda, Tokyo, Japan. The studio is known for its anime feature films, short films, and television commercials, particularly those made by director Makoto Shinkai. It was founded in March 2007 when it split from CoMix Wave Inc., which was initially formed in 1998 from Itochu Corporation, ASATSU, and other companies. On 15 October 2024, Toho announced that they'd acquired 45 shares or 6.0...

Xilio Therapeutics is a clinical-stage biotechnology company dedicated to developing novel tumor-selective immunotherapies for cancer treatment. Its product pipeline features candidates engineered to trigger anti-tumor immune responses specifically inside tumor microenvironments, reducing systemic toxicities, and it primarily targets oncology patient populations in North America and other global markets.

VWAV vs XLO — Head-to-Head

Bigger by revenue
XLO
XLO
1.4× larger
XLO
$13.7M
$10.0M
VWAV
Higher net margin
XLO
XLO
145.1% more per $
XLO
75.7%
-69.4%
VWAV

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
VWAV
VWAV
XLO
XLO
Revenue
$10.0M
$13.7M
Net Profit
$-6.9M
$10.4M
Gross Margin
Operating Margin
-65.7%
-86.5%
Net Margin
-69.4%
75.7%
Revenue YoY
Net Profit YoY
-1522.6%
179.1%
EPS (diluted)
$-3.74

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.

Revenue
VWAV
VWAV
XLO
XLO
Q4 25
$10.0M
$13.7M
Q3 25
$19.1M
Q2 25
$8.1M
Q1 25
$2.9M
Net Profit
VWAV
VWAV
XLO
XLO
Q4 25
$-6.9M
$10.4M
Q3 25
$-16.3M
Q2 25
$-15.8M
Q1 25
$-13.3M
Operating Margin
VWAV
VWAV
XLO
XLO
Q4 25
-65.7%
-86.5%
Q3 25
-10.1%
Q2 25
-177.7%
Q1 25
-472.7%
Net Margin
VWAV
VWAV
XLO
XLO
Q4 25
-69.4%
75.7%
Q3 25
-85.4%
Q2 25
-196.0%
Q1 25
-452.7%
EPS (diluted)
VWAV
VWAV
XLO
XLO
Q4 25
$-3.74
Q3 25
$-0.11
Q2 25
$-0.16
Q1 25
$-0.18

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
VWAV
VWAV
XLO
XLO
Cash + ST InvestmentsLiquidity on hand
$15.7K
$137.5M
Total DebtLower is stronger
Stockholders' EquityBook value
$3.1M
$35.3M
Total Assets
$18.4M
$154.7M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
VWAV
VWAV
XLO
XLO
Q4 25
$15.7K
$137.5M
Q3 25
$103.8M
Q2 25
$121.6M
Q1 25
$89.1M
Stockholders' Equity
VWAV
VWAV
XLO
XLO
Q4 25
$3.1M
$35.3M
Q3 25
$-8.1M
Q2 25
$7.1M
Q1 25
$10.7M
Total Assets
VWAV
VWAV
XLO
XLO
Q4 25
$18.4M
$154.7M
Q3 25
$133.7M
Q2 25
$133.8M
Q1 25
$103.7M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
VWAV
VWAV
XLO
XLO
Operating Cash FlowLast quarter
$-5.4M
$-2.0M
Free Cash FlowOCF − Capex
$-2.1M
FCF MarginFCF / Revenue
-15.3%
Capex IntensityCapex / Revenue
0.7%
Cash ConversionOCF / Net Profit
-0.19×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
VWAV
VWAV
XLO
XLO
Q4 25
$-5.4M
$-2.0M
Q3 25
$-17.5M
Q2 25
$-14.5M
Q1 25
$29.0M
Free Cash Flow
VWAV
VWAV
XLO
XLO
Q4 25
$-2.1M
Q3 25
Q2 25
$-14.9M
Q1 25
$29.0M
FCF Margin
VWAV
VWAV
XLO
XLO
Q4 25
-15.3%
Q3 25
Q2 25
-184.0%
Q1 25
988.3%
Capex Intensity
VWAV
VWAV
XLO
XLO
Q4 25
0.7%
Q3 25
0.0%
Q2 25
5.0%
Q1 25
0.8%
Cash Conversion
VWAV
VWAV
XLO
XLO
Q4 25
-0.19×
Q3 25
Q2 25
Q1 25

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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