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Side-by-side financial comparison of Ares Commercial Real Estate Corp (ACRE) and Spire Global, Inc. (SPIR). Click either name above to swap in a different company.
Spire Global, Inc. is the larger business by last-quarter revenue ($15.8M vs $13.2M, roughly 1.2× Ares Commercial Real Estate Corp). Ares Commercial Real Estate Corp runs the higher net margin — -29.2% vs -176.6%, a 147.4% gap on every dollar of revenue. On growth, Ares Commercial Real Estate Corp posted the faster year-over-year revenue change (-24.5% vs -26.9%). Over the past eight quarters, Ares Commercial Real Estate Corp's revenue compounded faster (-15.9% CAGR vs -32.6%).
Ares Commercial Real Estate Corp is a specialty finance company focused on the commercial real estate sector. It offers a full suite of customized financing solutions including senior mortgage loans, subordinated debt and preferred equity, primarily serving middle-market commercial property owners and operators across the United States.
Spire Global, Inc. is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites, such as the tracking of maritime, aviation and weather patterns.
ACRE vs SPIR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.2M | $15.8M |
| Net Profit | $-3.9M | $-28.0M |
| Gross Margin | — | 40.2% |
| Operating Margin | -29.2% | -164.1% |
| Net Margin | -29.2% | -176.6% |
| Revenue YoY | -24.5% | -26.9% |
| Net Profit YoY | 63.8% | 42.7% |
| EPS (diluted) | — | $-0.85 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $13.2M | $15.8M | ||
| Q3 25 | $14.1M | $12.7M | ||
| Q2 25 | $12.6M | $19.2M | ||
| Q1 25 | $14.9M | $23.9M | ||
| Q4 24 | $17.5M | $21.7M | ||
| Q3 24 | $16.7M | $28.6M | ||
| Q2 24 | $16.8M | $25.4M | ||
| Q1 24 | $18.7M | $34.8M |
| Q4 25 | $-3.9M | $-28.0M | ||
| Q3 25 | $4.7M | $-19.7M | ||
| Q2 25 | $-11.0M | $119.6M | ||
| Q1 25 | $9.3M | $-20.7M | ||
| Q4 24 | $-10.7M | $-48.8M | ||
| Q3 24 | $-5.9M | $-12.5M | ||
| Q2 24 | $-6.1M | $-16.6M | ||
| Q1 24 | $-12.3M | $-25.5M |
| Q4 25 | — | 40.2% | ||
| Q3 25 | — | 36.6% | ||
| Q2 25 | — | 48.9% | ||
| Q1 25 | — | 36.8% | ||
| Q4 24 | — | 32.4% | ||
| Q3 24 | — | 44.5% | ||
| Q2 24 | — | 43.0% | ||
| Q1 24 | — | 26.5% |
| Q4 25 | -29.2% | -164.1% | ||
| Q3 25 | 33.0% | -166.1% | ||
| Q2 25 | -87.8% | -122.7% | ||
| Q1 25 | 64.4% | -106.5% | ||
| Q4 24 | -61.0% | -144.1% | ||
| Q3 24 | -35.3% | -48.0% | ||
| Q2 24 | -36.5% | -48.6% | ||
| Q1 24 | -65.9% | -34.4% |
| Q4 25 | -29.2% | -176.6% | ||
| Q3 25 | 33.0% | -155.3% | ||
| Q2 25 | -87.8% | 623.4% | ||
| Q1 25 | 62.5% | -86.5% | ||
| Q4 24 | -60.9% | -225.2% | ||
| Q3 24 | -35.3% | -43.7% | ||
| Q2 24 | -36.5% | -65.2% | ||
| Q1 24 | -65.9% | -73.3% |
| Q4 25 | — | $-0.85 | ||
| Q3 25 | — | $-0.61 | ||
| Q2 25 | — | $3.72 | ||
| Q1 25 | — | $-0.77 | ||
| Q4 24 | — | $-1.93 | ||
| Q3 24 | — | $-0.50 | ||
| Q2 24 | — | $-0.68 | ||
| Q1 24 | — | $-1.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $29.3M | $81.8M |
| Total DebtLower is stronger | $948.2M | — |
| Stockholders' EquityBook value | $509.6M | $112.9M |
| Total Assets | $1.6B | $211.0M |
| Debt / EquityLower = less leverage | 1.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.3M | $81.8M | ||
| Q3 25 | $84.9M | $96.8M | ||
| Q2 25 | $90.0M | $117.6M | ||
| Q1 25 | $125.5M | $35.9M | ||
| Q4 24 | $63.8M | $19.2M | ||
| Q3 24 | $68.9M | $36.6M | ||
| Q2 24 | $70.6M | $45.8M | ||
| Q1 24 | $99.5M | $63.7M |
| Q4 25 | $948.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | $718.5M | $103.1M | ||
| Q3 24 | — | $4.9M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $123.1M |
| Q4 25 | $509.6M | $112.9M | ||
| Q3 25 | $521.0M | $133.1M | ||
| Q2 25 | $523.7M | $149.2M | ||
| Q1 25 | $542.1M | $3.7M | ||
| Q4 24 | $540.1M | $-11.7M | ||
| Q3 24 | $563.8M | $30.8M | ||
| Q2 24 | $582.3M | $40.3M | ||
| Q1 24 | $601.1M | $52.5M |
| Q4 25 | $1.6B | $211.0M | ||
| Q3 25 | $1.4B | $224.3M | ||
| Q2 25 | $1.4B | $239.5M | ||
| Q1 25 | $1.5B | $208.8M | ||
| Q4 24 | $1.8B | $193.6M | ||
| Q3 24 | $1.9B | $224.2M | ||
| Q2 24 | $2.1B | $230.8M | ||
| Q1 24 | $2.1B | $252.3M |
| Q4 25 | 1.86× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 27.92× | ||
| Q4 24 | 1.33× | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 2.35× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $21.4M | $-4.3M |
| Free Cash FlowOCF − Capex | — | $-16.2M |
| FCF MarginFCF / Revenue | — | -102.1% |
| Capex IntensityCapex / Revenue | — | 75.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-92.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.4M | $-4.3M | ||
| Q3 25 | $3.8M | $-12.0M | ||
| Q2 25 | $4.9M | $-35.1M | ||
| Q1 25 | $8.0M | $-8.4M | ||
| Q4 24 | $35.5M | $-19.2M | ||
| Q3 24 | $8.4M | $14.0M | ||
| Q2 24 | $8.7M | $-4.4M | ||
| Q1 24 | $11.4M | $-8.8M |
| Q4 25 | — | $-16.2M | ||
| Q3 25 | — | $-20.4M | ||
| Q2 25 | — | $-38.7M | ||
| Q1 25 | — | $-17.3M | ||
| Q4 24 | — | $-24.3M | ||
| Q3 24 | — | $5.1M | ||
| Q2 24 | — | $-9.9M | ||
| Q1 24 | — | $-15.9M |
| Q4 25 | — | -102.1% | ||
| Q3 25 | — | -161.3% | ||
| Q2 25 | — | -201.7% | ||
| Q1 25 | — | -72.6% | ||
| Q4 24 | — | -112.2% | ||
| Q3 24 | — | 17.8% | ||
| Q2 24 | — | -39.0% | ||
| Q1 24 | — | -45.7% |
| Q4 25 | — | 75.1% | ||
| Q3 25 | — | 66.2% | ||
| Q2 25 | — | 18.8% | ||
| Q1 25 | — | 37.3% | ||
| Q4 24 | — | 23.5% | ||
| Q3 24 | — | 31.2% | ||
| Q2 24 | — | 21.8% | ||
| Q1 24 | — | 20.3% |
| Q4 25 | — | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | — | -0.29× | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
