HCW Biologics Inc. (HCWB) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
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HCWB Revenue Growth
HCWB Revenue Analysis (2019–2025)
As of May 8, 2026, HCW Biologics Inc. (HCWB) generated trailing twelve-month (TTM) revenue of $54,231, reflecting significant decline in growth of -93.2% year-over-year. The most recent quarter (Q4 2025) recorded $27,010 in revenue, up 73.1% sequentially.
Looking at the longer-term picture, HCWB's 5-year compound annual growth rate (CAGR) stands at -57.9%, indicating revenue contraction over this period. The company achieved its highest annual revenue of $6.7 million in 2022.
When compared to Healthcare sector peers including ARQT (+95.3% YoY), KYMR (-12.6% YoY), and RCUS (+67.4% YoY), HCWB has underperformed the peer group in terms of revenue growth. Compare HCWB vs ARQT →
HCWB Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| HCWBCurrent | $54,231 | -93.2% | -57.9% | -20757.6% | |
 ARQT | $376M | +95.3% | - | -3.3% | |
 KYMR | $39M | -12.6% | +2.9% | -891.3% | |
 RCUS | $247M | +67.4% | +25.9% | -156.3% | |
 TGTX | $616M | +81.3% | +426.7% | 20.0% |
HCWB Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $54K | -97.9% | $11K | 20.0% | $-11,257,288 | -20757.6% |
| 2024 | $2.6M | -9.7% | $959K | 37.4% | $-29,479,667 | -1148.5% |
| 2023 | $2.8M | -57.7% | $560K | 19.7% | $-25,717,160 | -905.0% |
| 2022 | $6.7M | - | $2.6M | 38.5% | $-15,078,778 | -224.3% |
| 2021 | $0 | -100.0% | $-543,598 | - | $-13,367,834 | - |
| 2020 | $4.1M | - | $4.1M | 100.0% | $-5,824,525 | -142.1% |
| 2019 | $0 | - | $-421,817 | - | $-7,365,274 | - |
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Start ComparisonHCWB — Frequently Asked Questions
Quick answers to the most common questions about buying HCWB stock.
Is HCWB's revenue growth accelerating or slowing?
HCWB revenue declined -93.2% year-over-year, contrasting with the 5-year CAGR of -57.9%. TTM revenue fell to $54231.00. This reverses the prior growth trend.
What is HCWB's long-term revenue growth rate?
HCW Biologics Inc.'s 5-year revenue CAGR of -57.9% reflects the variable expansion pattern. Current YoY growth of -93.2% is below this long-term average.
How is HCWB's revenue distributed by segment?
HCWB reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2025 are available for download. Segment mix reveals concentration and diversification trends.