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

VisionWave Holdings, Inc. is the larger business by last-quarter revenue ($10.0M vs $5.2M, roughly 1.9× Xos, Inc.). VisionWave Holdings, Inc. runs the higher net margin — -69.4% vs -186.8%, a 117.5% 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...

Xos, Inc. is an American manufacturer of commercial electric vehicles (EVs) and mobile EV chargers.

VWAV vs XOS — Head-to-Head

Bigger by revenue
VWAV
VWAV
1.9× larger
VWAV
$10.0M
$5.2M
XOS
Higher net margin
VWAV
VWAV
117.5% more per $
VWAV
-69.4%
-186.8%
XOS

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
VWAV
VWAV
XOS
XOS
Revenue
$10.0M
$5.2M
Net Profit
$-6.9M
$-9.8M
Gross Margin
-50.5%
Operating Margin
-65.7%
-186.6%
Net Margin
-69.4%
-186.8%
Revenue YoY
-54.5%
Net Profit YoY
-1522.6%
48.6%
EPS (diluted)
$-0.76

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
XOS
XOS
Q4 25
$10.0M
$5.2M
Q3 25
$16.5M
Q2 25
$18.4M
Q1 25
$5.9M
Q4 24
$11.5M
Q3 24
$15.8M
Q2 24
$15.5M
Q1 24
$12.6M
Net Profit
VWAV
VWAV
XOS
XOS
Q4 25
$-6.9M
$-9.8M
Q3 25
$2.1M
Q2 25
$-7.5M
Q1 25
$-10.2M
Q4 24
$-19.0M
Q3 24
$-10.5M
Q2 24
$-9.7M
Q1 24
$-11.0M
Gross Margin
VWAV
VWAV
XOS
XOS
Q4 25
-50.5%
Q3 25
15.3%
Q2 25
8.8%
Q1 25
20.6%
Q4 24
-32.4%
Q3 24
18.1%
Q2 24
13.1%
Q1 24
22.1%
Operating Margin
VWAV
VWAV
XOS
XOS
Q4 25
-65.7%
-186.6%
Q3 25
-42.4%
Q2 25
-38.5%
Q1 25
-157.7%
Q4 24
-127.0%
Q3 24
-61.4%
Q2 24
-73.2%
Q1 24
-81.1%
Net Margin
VWAV
VWAV
XOS
XOS
Q4 25
-69.4%
-186.8%
Q3 25
12.9%
Q2 25
-40.8%
Q1 25
-173.3%
Q4 24
-165.4%
Q3 24
-66.6%
Q2 24
-62.2%
Q1 24
-87.1%
EPS (diluted)
VWAV
VWAV
XOS
XOS
Q4 25
$-0.76
Q3 25
$0.22
Q2 25
$-0.91
Q1 25
$-1.26
Q4 24
$-2.34
Q3 24
$-1.32
Q2 24
$-1.23
Q1 24
$-1.80

Balance Sheet & Financial Strength

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

Metric
VWAV
VWAV
XOS
XOS
Cash + ST InvestmentsLiquidity on hand
$15.7K
$14.0M
Total DebtLower is stronger
Stockholders' EquityBook value
$3.1M
$23.3M
Total Assets
$18.4M
$60.4M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
VWAV
VWAV
XOS
XOS
Q4 25
$15.7K
$14.0M
Q3 25
$14.1M
Q2 25
$8.8M
Q1 25
$4.8M
Q4 24
$11.0M
Q3 24
$8.4M
Q2 24
$19.7M
Q1 24
$46.2M
Stockholders' Equity
VWAV
VWAV
XOS
XOS
Q4 25
$3.1M
$23.3M
Q3 25
$31.1M
Q2 25
$18.3M
Q1 25
$24.8M
Q4 24
$33.6M
Q3 24
$50.8M
Q2 24
$59.2M
Q1 24
$67.8M
Total Assets
VWAV
VWAV
XOS
XOS
Q4 25
$18.4M
$60.4M
Q3 25
$73.8M
Q2 25
$80.3M
Q1 25
$87.7M
Q4 24
$98.3M
Q3 24
$120.5M
Q2 24
$123.4M
Q1 24
$135.0M

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
XOS
XOS
Operating Cash FlowLast quarter
$-5.4M
$2.4M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
0.0%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
VWAV
VWAV
XOS
XOS
Q4 25
$-5.4M
$2.4M
Q3 25
$3.1M
Q2 25
$4.6M
Q1 25
$-4.8M
Q4 24
$3.3M
Q3 24
$-11.5M
Q2 24
$-26.0M
Q1 24
$-14.6M
Free Cash Flow
VWAV
VWAV
XOS
XOS
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
$-11.7M
Q2 24
$-26.1M
Q1 24
$-14.6M
FCF Margin
VWAV
VWAV
XOS
XOS
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
-73.9%
Q2 24
-168.1%
Q1 24
-115.7%
Capex Intensity
VWAV
VWAV
XOS
XOS
Q4 25
0.0%
Q3 25
0.0%
Q2 25
0.0%
Q1 25
0.0%
Q4 24
0.0%
Q3 24
0.9%
Q2 24
0.8%
Q1 24
0.2%
Cash Conversion
VWAV
VWAV
XOS
XOS
Q4 25
Q3 25
1.45×
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

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

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