HCW Biologics (HCWB) Operating Income (2020 - 2025)
HCW Biologics' (HCWB) quarterly Operating Income came in at -$4.5 million in Q4 2025, down 41.76% YoY from -$7.7 million in Q4 2024, and down 35.53% on a QoQ basis from -$3.3 million in Q3 2025.
HCW Biologics (HCWB) Operating Income (2020 - 2025) Analysis & Trends
HCW Biologics (HCWB) has 6 years of Operating Income data on file, last reported at -$4.5 million in Q4 2025.
- Quarterly Operating Income fell 41.76% year-over-year to -$4.5 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was -$13.2 million (up 55.25% YoY) and the FY2025 annual result came in at -$13.2 million, up 55.32% from the prior year.
- Operating Income declined to -$4.5 million in Q4 2025, from -$3.3 million in the prior quarter.
- In the past five years, Operating Income ranged from a high of -$1.9 million in Q1 2022 to a low of -$15.1 million in Q2 2024.
- A 5-year average of -$4.8 million and a median of -$3.9 million in 2022 frame the typical range for Operating Income.
- Annual changes were most pronounced in 2021 — Operating Income sank 251.01% — and 2025, when it soared 77.11%.
- Tracing HCWB's Operating Income over 5 years: stood at -$3.1 million in 2021, then plunged by 82.08% to -$5.7 million in 2022, then tumbled by 90.01% to -$10.8 million in 2023, then jumped by 70.77% to -$3.1 million in 2024, then tumbled by 41.76% to -$4.5 million in 2025.
- The last three Operating Income figures came in at -$4.5 million (Q4 2025), -$3.3 million (Q3 2025), and -$3.5 million (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Op. Inc (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 137.11 Bn | 129.26 Bn | 2.84 Bn | 1.25 Bn |
| 2 | Regeneron Pharmaceuticals | 84.98 Bn | 76.99 Bn | 3.93 Bn | 1.29 Bn |
| 3 | Argenx Se | 64.52 Bn | 59.33 Bn | 1.37 Bn | 493.00 Mn |
| 4 | Moderna | 53.23 Bn | 48.09 Bn | 52.00 Mn | -815.00 Mn |
| 5 | BeOne Medicines | 41.23 Bn | 36.14 Bn | 1.53 Bn | 325.05 Mn |
| 6 | Alnylam Pharmaceuticals | 30.65 Bn | 27.34 Bn | 992.69 Mn | 231.44 Mn |
| 7 | Insmed | 27.15 Bn | 25.99 Bn | 358.27 Mn | -1.55 Mn |
| 8 | Royalty Pharma | 26.98 Bn | 26.14 Bn | - | 133.12 Mn |
| 9 | BioNTech SE | 26.78 Bn | 8.39 Bn | 668.28 Mn | -375.75 Mn |
| 10 | HCW Biologics | 2.93 Mn | 2.19 Mn | -93,887.00 | -3.17 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -4.46 Mn |
| Sep 30, 2025 | -3.29 Mn |
| Jun 30, 2025 | -3.46 Mn |
| Mar 31, 2025 | -1.97 Mn |
| Dec 31, 2024 | -3.15 Mn |
| Sep 30, 2024 | -3.68 Mn |
| Jun 30, 2024 | -15.14 Mn |
| Mar 31, 2024 | -7.49 Mn |
| Dec 31, 2023 | -10.77 Mn |
| Sep 30, 2023 | -5.08 Mn |
| Jun 30, 2023 | -4.51 Mn |
| Mar 31, 2023 | -5.36 Mn |
| Dec 31, 2022 | -5.67 Mn |
| Sep 30, 2022 | -4.02 Mn |
| Jun 30, 2022 | -3.51 Mn |
| Mar 31, 2022 | -1.88 Mn |
| Dec 31, 2021 | -3.11 Mn |
| Sep 30, 2021 | -4.09 Mn |
| Jun 30, 2021 | -2.75 Mn |
| Mar 31, 2021 | -3.41 Mn |