vs
C3.ai, Inc.（AI）与再鼎医药（ZLAB）财务数据对比。点击上方公司名可切换其他公司
再鼎医药的季度营收约是C3.ai, Inc.的1.7倍（$127.1M vs $75.1M），再鼎医药同比增速更快（17.1% vs -20.3%），再鼎医药自由现金流更多（$-26.7M vs $-46.9M），过去两年再鼎医药的营收复合增速更高（20.8% vs -2.1%）
C3.ai是全球领先的企业级人工智能软件供应商，主要开发销售可扩展的AI应用、平台工具及垂直行业定制解决方案，服务覆盖制造、能源、金融、医疗、公共部门等领域，助力客户优化运营、降本增效、管控风险，实现数据驱动的业务决策。
再鼎医药是一家创新生物制药企业，专注于肿瘤、自身免疫性疾病、感染性疾病等领域创新疗法的研发、生产与商业化，核心市场覆盖大中华区，与全球多家头部生物科技企业合作，为存在未被满足医疗需求的患者提供治疗方案。
AI vs ZLAB — 直观对比
营收规模更大
ZLAB
是对方的1.7倍
$75.1M
营收增速更快
ZLAB
高出37.5%
-20.3%
自由现金流更多
ZLAB
多$20.2M
$-46.9M
两年增速更快
ZLAB
近两年复合增速
-2.1%
损益表 — Q2 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $75.1M | $127.1M |
| 净利润 | $-104.7M | — |
| 毛利率 | 40.4% | 51.0% |
| 营业利润率 | -149.2% | -54.6% |
| 净利率 | -139.3% | — |
| 营收同比 | -20.3% | 17.1% |
| 净利润同比 | -58.7% | — |
| 每股收益（稀释后） | $-0.75 | $-0.05 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AIZLAB
| Q4 25 | $75.1M | $127.1M | ||
| Q3 25 | $70.3M | $115.4M | ||
| Q2 25 | $108.7M | $109.1M | ||
| Q1 25 | $98.8M | $105.7M | ||
| Q4 24 | $94.3M | $108.5M | ||
| Q3 24 | $87.2M | $101.8M | ||
| Q2 24 | $86.6M | $100.1M | ||
| Q1 24 | $78.4M | $87.1M |
净利润AIZLAB
| Q4 25 | $-104.7M | — | ||
| Q3 25 | $-116.8M | $-36.0M | ||
| Q2 25 | $-79.7M | $-40.7M | ||
| Q1 25 | $-80.2M | $-48.4M | ||
| Q4 24 | $-66.0M | — | ||
| Q3 24 | $-62.8M | $-41.7M | ||
| Q2 24 | $-72.9M | $-80.3M | ||
| Q1 24 | $-72.6M | $-53.5M |
毛利率AIZLAB
| Q4 25 | 40.4% | 51.0% | ||
| Q3 25 | 37.6% | 59.5% | ||
| Q2 25 | 62.1% | 60.6% | ||
| Q1 25 | 59.1% | 63.6% | ||
| Q4 24 | 61.3% | 61.5% | ||
| Q3 24 | 59.8% | 64.1% | ||
| Q2 24 | 59.6% | 64.9% | ||
| Q1 24 | 57.8% | 61.4% |
营业利润率AIZLAB
| Q4 25 | -149.2% | -54.6% | ||
| Q3 25 | -177.7% | -42.3% | ||
| Q2 25 | -81.8% | -50.3% | ||
| Q1 25 | -88.7% | -53.3% | ||
| Q4 24 | -79.8% | -62.6% | ||
| Q3 24 | -83.2% | -66.6% | ||
| Q2 24 | -95.1% | -76.0% | ||
| Q1 24 | -105.3% | -80.7% |
净利率AIZLAB
| Q4 25 | -139.3% | — | ||
| Q3 25 | -166.2% | -31.2% | ||
| Q2 25 | -73.3% | -37.3% | ||
| Q1 25 | -81.2% | -45.8% | ||
| Q4 24 | -69.9% | — | ||
| Q3 24 | -72.0% | -40.9% | ||
| Q2 24 | -84.2% | -80.2% | ||
| Q1 24 | -92.6% | -61.4% |
每股收益（稀释后）AIZLAB
| Q4 25 | $-0.75 | $-0.05 | ||
| Q3 25 | $-0.86 | $-0.03 | ||
| Q2 25 | $-0.60 | $-0.04 | ||
| Q1 25 | $-0.62 | $-0.04 | ||
| Q4 24 | $-0.52 | $-0.09 | ||
| Q3 24 | $-0.50 | $-0.04 | ||
| Q2 24 | $-0.59 | $-0.08 | ||
| Q1 24 | $-0.60 | $-0.05 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $675.0M | $689.6M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $771.9M | $715.5M |
| 总资产 | $961.3M | $1.2B |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资AIZLAB
| Q4 25 | $675.0M | $689.6M | ||
| Q3 25 | $711.9M | $717.2M | ||
| Q2 25 | $742.7M | $732.2M | ||
| Q1 25 | $724.3M | $757.3M | ||
| Q4 24 | $730.4M | $779.7M | ||
| Q3 24 | $762.5M | $616.1M | ||
| Q2 24 | $750.4M | $630.0M | ||
| Q1 24 | $723.3M | $650.8M |
股东权益AIZLAB
| Q4 25 | $771.9M | $715.5M | ||
| Q3 25 | $798.8M | $759.9M | ||
| Q2 25 | $838.3M | $791.7M | ||
| Q1 25 | $860.2M | $810.8M | ||
| Q4 24 | $859.0M | $840.9M | ||
| Q3 24 | $874.9M | $667.7M | ||
| Q2 24 | $873.4M | $704.2M | ||
| Q1 24 | $898.0M | $762.2M |
总资产AIZLAB
| Q4 25 | $961.3M | $1.2B | ||
| Q3 25 | $968.7M | $1.2B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $1.1B | $1.2B | ||
| Q4 24 | $1.0B | $1.2B | ||
| Q3 24 | $1.1B | $985.3M | ||
| Q2 24 | $1.0B | $987.4M | ||
| Q1 24 | $1.1B | $988.4M |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-46.5M | $-26.0M |
| 自由现金流经营现金流 - 资本支出 | $-46.9M | $-26.7M |
| 自由现金流率自由现金流/营收 | -62.4% | -21.0% |
| 资本支出强度资本支出/营收 | 0.5% | 0.5% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $-93.2M | $-158.9M |
8季度趋势，按日历期对齐
经营现金流AIZLAB
| Q4 25 | $-46.5M | $-26.0M | ||
| Q3 25 | $-33.5M | $-32.0M | ||
| Q2 25 | $11.3M | $-31.0M | ||
| Q1 25 | $-22.0M | $-61.7M | ||
| Q4 24 | $-38.7M | $-55.8M | ||
| Q3 24 | $8.0M | $-26.8M | ||
| Q2 24 | $21.3M | $-42.2M | ||
| Q1 24 | $-39.1M | $-90.1M |
自由现金流AIZLAB
| Q4 25 | $-46.9M | $-26.7M | ||
| Q3 25 | $-34.3M | $-35.0M | ||
| Q2 25 | $10.3M | $-33.9M | ||
| Q1 25 | $-22.4M | $-63.2M | ||
| Q4 24 | $-39.5M | $-58.4M | ||
| Q3 24 | $7.1M | $-28.2M | ||
| Q2 24 | $18.8M | $-42.9M | ||
| Q1 24 | $-45.1M | $-91.1M |
自由现金流率AIZLAB
| Q4 25 | -62.4% | -21.0% | ||
| Q3 25 | -48.8% | -30.4% | ||
| Q2 25 | 9.5% | -31.1% | ||
| Q1 25 | -22.7% | -59.9% | ||
| Q4 24 | -41.9% | -53.8% | ||
| Q3 24 | 8.2% | -27.7% | ||
| Q2 24 | 21.7% | -42.9% | ||
| Q1 24 | -57.6% | -104.5% |
资本支出强度AIZLAB
| Q4 25 | 0.5% | 0.5% | ||
| Q3 25 | 1.1% | 2.6% | ||
| Q2 25 | 0.9% | 2.6% | ||
| Q1 25 | 0.4% | 1.5% | ||
| Q4 24 | 0.9% | 2.4% | ||
| Q3 24 | 1.1% | 1.3% | ||
| Q2 24 | 2.9% | 0.7% | ||
| Q1 24 | 7.8% | 1.1% |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
ZLAB
| Zejula | $56.0M | 44% |
| Other | $21.9M | 17% |
| Nuzyra | $16.0M | 13% |
| Optune | $11.9M | 9% |
| XACDURO | $10.7M | 8% |
| Qinlock | $9.7M | 8% |
| AUGTYRO | $836.0K | 1% |
