Filing Flows › HCW Biologics (HCWB) › Q1 2026 › vs Q1 2025
HCW Biologics (HCWB) Q1 2026 vs Q1 2025 (year over year)
HCW Biologics's revenue rose $6.5M (1,292×) from $5K in Q1 2025 to $6.5M in Q1 2026. Gross margin 99.8% against 20.0% (+79.8 pts).
HCW Biologics, Q1 2026: revenue $6.5M (1,292× year over year), operating margin 49.5%, net earnings $3.5M, operating cash flow −$1.6M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Gross margin | 99.8% | 20.0% | +79.8 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Revenue | $6.5M | $5K | $6.5M | 1,292× |
| Gross profit | $6.5M | $1K | $6.5M | 6,448× |
| Cost of revenue | $11K | $4K | $7K | +173% |
| Other income, net | $567K | −$231K | $798K | — |
| Operating profit | $3.2M | −$2.0M | $5.2M | — |
| Operating expenses | $3.3M | $2.0M | $1.3M | +68% |
| Pre-tax earnings | $3.8M | −$2.2M | $6.0M | — |
| Net earnings | $3.5M | −$2.2M | $5.7M | — |
| Income tax | $330K | $0 | $330K | — |
| Operating cash sources | $5.2M | $2.0M | $3.2M | +158% |
| Depreciation & amortization | $142K | $419K | −$277K | -66% |
| Share-based compensation | $10K | $276K | −$266K | -96% |
| Cash used in operations | $1.6M | $3.5M | −$1.9M | -55% |
| Working capital & other | $5.2M | $2.0M | $3.2M | +158% |
Questions
How much did HCW Biologics's revenue grow year over year in Q1 2026?
HCW Biologics's revenue rose $6.5M (1,292×) from $5K in Q1 2025 to $6.5M in Q1 2026. Gross margin 99.8% against 20.0% (+79.8 pts).