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Tonix Pharmaceuticals Holding Corp.（TNXP）与Velo3D, Inc.（VELO）财务数据对比。点击上方公司名可切换其他公司
Velo3D, Inc.的季度营收约是Tonix Pharmaceuticals Holding Corp.的1.8倍（$9.4M vs $5.4M），Velo3D, Inc.净利率更高（-231.9% vs -870.3%，领先638.4%），Tonix Pharmaceuticals Holding Corp.同比增速更快（108.8% vs -25.2%），Velo3D, Inc.自由现金流更多（$-8.3M vs $-41.5M），过去两年Tonix Pharmaceuticals Holding Corp.的营收复合增速更高（47.4% vs -1.8%）
Tonix Pharmaceuticals是一家总部位于美国新泽西州查塔姆的制药企业，核心业务聚焦于中枢神经系统疾病适应症的再利用药物开发，截至2020年，该公司同时还在开展新冠疫苗研发以及一个生物防御相关项目。
Velo3D是全球领先的金属3D打印解决方案提供商，主营工业级金属3D打印机、配套专用加工软件及高性能金属材料，主要服务航空航天、国防、能源、半导体等高端制造领域，可生产传统工艺难以实现的复杂高精度金属零部件。
TNXP vs VELO — 直观对比
营收规模更大
VELO
是对方的1.8倍
$5.4M
营收增速更快
TNXP
高出134.0%
-25.2%
净利率更高
VELO
高出638.4%
-870.3%
自由现金流更多
VELO
多$33.2M
$-41.5M
两年增速更快
TNXP
近两年复合增速
-1.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $5.4M | $9.4M |
| 净利润 | $-46.9M | $-21.9M |
| 毛利率 | 80.4% | -73.6% |
| 营业利润率 | -895.8% | -231.0% |
| 净利率 | -870.3% | -231.9% |
| 营收同比 | 108.8% | -25.2% |
| 净利润同比 | -112.2% | -2.9% |
| 每股收益（稀释后） | $-4.28 | $-0.87 |
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TNXPVELO
| Q4 25 | $5.4M | $9.4M | ||
| Q3 25 | $3.3M | $13.6M | ||
| Q2 25 | $2.0M | $13.6M | ||
| Q1 25 | $2.4M | $9.3M | ||
| Q4 24 | $2.6M | $12.6M | ||
| Q3 24 | $2.8M | $8.2M | ||
| Q2 24 | $2.2M | $10.3M | ||
| Q1 24 | $2.5M | $9.8M |
净利润TNXPVELO
| Q4 25 | $-46.9M | $-21.9M | ||
| Q3 25 | $-32.0M | $-11.2M | ||
| Q2 25 | $-28.3M | $-13.3M | ||
| Q1 25 | $-16.8M | $-25.0M | ||
| Q4 24 | $-22.1M | $-21.3M | ||
| Q3 24 | $-14.2M | $-21.9M | ||
| Q2 24 | $-78.8M | $935.0K | ||
| Q1 24 | $-14.9M | $-27.5M |
毛利率TNXPVELO
| Q4 25 | 80.4% | -73.6% | ||
| Q3 25 | 58.4% | 3.2% | ||
| Q2 25 | -63.8% | -11.7% | ||
| Q1 25 | 61.2% | 7.5% | ||
| Q4 24 | 54.2% | -3.5% | ||
| Q3 24 | 44.9% | 49.4% | ||
| Q2 24 | -52.5% | -28.0% | ||
| Q1 24 | 33.1% | -28.8% |
营业利润率TNXPVELO
| Q4 25 | -895.8% | -231.0% | ||
| Q3 25 | -1005.1% | -73.3% | ||
| Q2 25 | -1416.2% | -85.4% | ||
| Q1 25 | -660.9% | -123.6% | ||
| Q4 24 | -870.6% | -167.0% | ||
| Q3 24 | -551.2% | -213.8% | ||
| Q2 24 | -3501.6% | -187.7% | ||
| Q1 24 | -860.2% | -211.1% |
净利率TNXPVELO
| Q4 25 | -870.3% | -231.9% | ||
| Q3 25 | -972.9% | -82.0% | ||
| Q2 25 | -1415.0% | -97.7% | ||
| Q1 25 | -692.8% | -268.4% | ||
| Q4 24 | -856.2% | -168.5% | ||
| Q3 24 | -503.6% | -265.3% | ||
| Q2 24 | -3567.8% | 9.0% | ||
| Q1 24 | -601.9% | -281.2% |
每股收益（稀释后）TNXPVELO
| Q4 25 | $-4.28 | $-0.87 | ||
| Q3 25 | $-3.59 | $-0.65 | ||
| Q2 25 | $-3.86 | $-0.94 | ||
| Q1 25 | $-2.84 | $-1.87 | ||
| Q4 24 | $2302.65 | $7.06 | ||
| Q3 24 | $-22.68 | $-35.52 | ||
| Q2 24 | $-1920.85 | $1.65 | ||
| Q1 24 | $-535.72 | $-55.51 |
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 | $207.6M | $39.0M |
| 总债务越低越好 | — | $31.0M |
| 股东权益账面价值 | $245.2M | $38.2M |
| 总资产 | $277.2M | $105.3M |
| 负债/权益比越低杠杆越低 | — | 0.81× |
8季度趋势，按日历期对齐
现金及短期投资TNXPVELO
| Q4 25 | $207.6M | $39.0M | ||
| Q3 25 | $190.1M | $11.8M | ||
| Q2 25 | $125.3M | $854.0K | ||
| Q1 25 | $131.7M | $3.9M | ||
| Q4 24 | $98.8M | $1.2M | ||
| Q3 24 | $28.2M | $1.6M | ||
| Q2 24 | $4.2M | $3.2M | ||
| Q1 24 | $7.0M | $10.9M |
总债务TNXPVELO
| Q4 25 | — | $31.0M | ||
| Q3 25 | — | $23.0M | ||
| Q2 25 | — | $22.5M | ||
| Q1 25 | — | $21.7M | ||
| Q4 24 | $8.7M | $5.7M | ||
| Q3 24 | $9.4M | $32.3M | ||
| Q2 24 | $10.1M | $33.5M | ||
| Q1 24 | $10.8M | $44.0M |
股东权益TNXPVELO
| Q4 25 | $245.2M | $38.2M | ||
| Q3 25 | $231.1M | $29.9M | ||
| Q2 25 | $168.0M | $21.4M | ||
| Q1 25 | $180.4M | $32.8M | ||
| Q4 24 | $139.6M | $39.7M | ||
| Q3 24 | $74.2M | $34.4M | ||
| Q2 24 | $42.1M | $52.1M | ||
| Q1 24 | $108.1M | $45.5M |
总资产TNXPVELO
| Q4 25 | $277.2M | $105.3M | ||
| Q3 25 | $252.4M | $93.7M | ||
| Q2 25 | $187.4M | $78.4M | ||
| Q1 25 | $192.9M | $91.3M | ||
| Q4 24 | $162.9M | $89.2M | ||
| Q3 24 | $95.0M | $110.8M | ||
| Q2 24 | $70.3M | $116.7M | ||
| Q1 24 | $135.3M | $136.1M |
负债/权益比TNXPVELO
| Q4 25 | — | 0.81× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | 0.06× | 0.14× | ||
| Q3 24 | 0.13× | 0.94× | ||
| Q2 24 | 0.24× | 0.64× | ||
| Q1 24 | 0.10× | 0.97× |
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 | $-39.6M | $-7.7M |
| 自由现金流经营现金流 - 资本支出 | $-41.5M | $-8.3M |
| 自由现金流率自由现金流/营收 | -770.4% | -88.3% |
| 资本支出强度资本支出/营收 | 34.8% | 6.4% |
| 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 | $-103.2M | — |
8季度趋势，按日历期对齐
经营现金流TNXPVELO
| Q4 25 | $-39.6M | $-7.7M | ||
| Q3 25 | $-28.8M | $-6.0M | ||
| Q2 25 | $-14.8M | $-1.2M | ||
| Q1 25 | $-16.6M | $-12.3M | ||
| Q4 24 | $-14.6M | $-2.2M | ||
| Q3 24 | $-18.8M | $-2.0M | ||
| Q2 24 | $-9.9M | $-8.0M | ||
| Q1 24 | $-17.6M | $-20.5M |
自由现金流TNXPVELO
| Q4 25 | $-41.5M | $-8.3M | ||
| Q3 25 | $-29.7M | $-6.3M | ||
| Q2 25 | $-15.4M | $-3.0M | ||
| Q1 25 | $-16.6M | — | ||
| Q4 24 | $-14.6M | $-2.2M | ||
| Q3 24 | $-18.8M | $-2.0M | ||
| Q2 24 | — | $-8.0M | ||
| Q1 24 | $-17.7M | $-20.5M |
自由现金流率TNXPVELO
| Q4 25 | -770.4% | -88.3% | ||
| Q3 25 | -904.1% | -46.5% | ||
| Q2 25 | -768.8% | -22.2% | ||
| Q1 25 | -682.8% | — | ||
| Q4 24 | -566.7% | -17.7% | ||
| Q3 24 | -666.5% | -24.2% | ||
| Q2 24 | — | -77.1% | ||
| Q1 24 | -712.4% | -209.8% |
资本支出强度TNXPVELO
| Q4 25 | 34.8% | 6.4% | ||
| Q3 25 | 29.2% | 2.3% | ||
| Q2 25 | 26.4% | 13.3% | ||
| Q1 25 | 0.2% | 0.0% | ||
| Q4 24 | 0.1% | 0.2% | ||
| Q3 24 | 0.3% | 0.2% | ||
| Q2 24 | 0.0% | 0.0% | ||
| Q1 24 | 4.4% | 0.1% |
现金转化率TNXPVELO
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -8.52× | ||
| Q1 24 | — | — |
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
TNXP
| Zembrace Symtouch | $3.1M | 58% |
| Other | $2.3M | 42% |
VELO
暂无分部数据
