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Side-by-side financial comparison of C3.ai, Inc. (AI) and Cipher Mining Inc. (CIFR). Click either name above to swap in a different company.
C3.ai, Inc. is the larger business by last-quarter revenue ($75.1M vs $59.7M, roughly 1.3× Cipher Mining Inc.). C3.ai, Inc. runs the higher net margin — -139.3% vs -1229.6%, a 1090.3% gap on every dollar of revenue. On growth, Cipher Mining Inc. posted the faster year-over-year revenue change (41.4% vs -20.3%). C3.ai, Inc. produced more free cash flow last quarter ($-46.9M vs $-695.9M). Over the past eight quarters, Cipher Mining Inc.'s revenue compounded faster (11.4% CAGR vs -2.1%).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
AI vs CIFR — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $59.7M |
| Net Profit | $-104.7M | $-734.2M |
| Gross Margin | 40.4% | 59.4% |
| Operating Margin | -149.2% | -503.4% |
| Net Margin | -139.3% | -1229.6% |
| Revenue YoY | -20.3% | 41.4% |
| Net Profit YoY | -58.7% | -4293.1% |
| EPS (diluted) | $-0.75 | $-1.91 |
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 | $75.1M | $59.7M | ||
| Q3 25 | $70.3M | $71.7M | ||
| Q2 25 | $108.7M | $43.6M | ||
| Q1 25 | $98.8M | $49.0M | ||
| Q4 24 | $94.3M | $42.2M | ||
| Q3 24 | $87.2M | $24.1M | ||
| Q2 24 | $86.6M | $36.8M | ||
| Q1 24 | $78.4M | $48.1M |
| Q4 25 | $-104.7M | $-734.2M | ||
| Q3 25 | $-116.8M | $-3.3M | ||
| Q2 25 | $-79.7M | $-45.8M | ||
| Q1 25 | $-80.2M | $-39.0M | ||
| Q4 24 | $-66.0M | $17.5M | ||
| Q3 24 | $-62.8M | $-86.8M | ||
| Q2 24 | $-72.9M | $-15.3M | ||
| Q1 24 | $-72.6M | $39.9M |
| Q4 25 | 40.4% | 59.4% | ||
| Q3 25 | 37.6% | 62.7% | ||
| Q2 25 | 62.1% | 64.8% | ||
| Q1 25 | 59.1% | 69.6% | ||
| Q4 24 | 61.3% | 56.9% | ||
| Q3 24 | 59.8% | 37.5% | ||
| Q2 24 | 59.6% | 61.2% | ||
| Q1 24 | 57.8% | 69.2% |
| Q4 25 | -149.2% | -503.4% | ||
| Q3 25 | -177.7% | -52.5% | ||
| Q2 25 | -81.8% | -103.9% | ||
| Q1 25 | -88.7% | -77.8% | ||
| Q4 24 | -79.8% | 40.5% | ||
| Q3 24 | -83.2% | -379.2% | ||
| Q2 24 | -95.1% | -43.9% | ||
| Q1 24 | -105.3% | 97.2% |
| Q4 25 | -139.3% | -1229.6% | ||
| Q3 25 | -166.2% | -4.6% | ||
| Q2 25 | -73.3% | -105.1% | ||
| Q1 25 | -81.2% | -79.6% | ||
| Q4 24 | -69.9% | 41.5% | ||
| Q3 24 | -72.0% | -359.9% | ||
| Q2 24 | -84.2% | -41.5% | ||
| Q1 24 | -92.6% | 82.9% |
| Q4 25 | $-0.75 | $-1.91 | ||
| Q3 25 | $-0.86 | $-0.01 | ||
| Q2 25 | $-0.60 | $-0.12 | ||
| Q1 25 | $-0.62 | $-0.11 | ||
| Q4 24 | $-0.52 | $0.04 | ||
| Q3 24 | $-0.50 | $-0.26 | ||
| Q2 24 | $-0.59 | $-0.05 | ||
| Q1 24 | $-0.60 | $0.13 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $675.0M | $628.3M |
| Total DebtLower is stronger | — | $2.7B |
| Stockholders' EquityBook value | $771.9M | $805.5M |
| Total Assets | $961.3M | $4.3B |
| Debt / EquityLower = less leverage | — | 3.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $628.3M | ||
| Q3 25 | $711.9M | $1.2B | ||
| Q2 25 | $742.7M | $62.7M | ||
| Q1 25 | $724.3M | $23.2M | ||
| Q4 24 | $730.4M | $5.6M | ||
| Q3 24 | $762.5M | $25.3M | ||
| Q2 24 | $750.4M | $122.6M | ||
| Q1 24 | $723.3M | $88.7M |
| Q4 25 | — | $2.7B | ||
| Q3 25 | — | $1.0B | ||
| Q2 25 | — | $167.1M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $771.9M | $805.5M | ||
| Q3 25 | $798.8M | $783.2M | ||
| Q2 25 | $838.3M | $748.9M | ||
| Q1 25 | $860.2M | $734.8M | ||
| Q4 24 | $859.0M | $682.0M | ||
| Q3 24 | $874.9M | $672.0M | ||
| Q2 24 | $873.4M | $690.8M | ||
| Q1 24 | $898.0M | $600.9M |
| Q4 25 | $961.3M | $4.3B | ||
| Q3 25 | $968.7M | $2.8B | ||
| Q2 25 | $1.0B | $1.0B | ||
| Q1 25 | $1.1B | $913.8M | ||
| Q4 24 | $1.0B | $855.4M | ||
| Q3 24 | $1.1B | $775.4M | ||
| Q2 24 | $1.0B | $775.6M | ||
| Q1 24 | $1.1B | $677.1M |
| Q4 25 | — | 3.37× | ||
| Q3 25 | — | 1.31× | ||
| Q2 25 | — | 0.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-46.5M | $-207.9M |
| Free Cash FlowOCF − Capex | $-46.9M | $-695.9M |
| FCF MarginFCF / Revenue | -62.4% | -1165.4% |
| Capex IntensityCapex / Revenue | 0.5% | 817.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $-1.1B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $-207.9M | ||
| Q3 25 | $-33.5M | $-50.1M | ||
| Q2 25 | $11.3M | $-56.2M | ||
| Q1 25 | $-22.0M | $-47.2M | ||
| Q4 24 | $-38.7M | $-87.5M | ||
| Q3 24 | $8.0M | $-6.5M | ||
| Q2 24 | $21.3M | $-25.4M | ||
| Q1 24 | $-39.1M | $-26.6M |
| Q4 25 | $-46.9M | $-695.9M | ||
| Q3 25 | $-34.3M | $-256.2M | ||
| Q2 25 | $10.3M | $-87.5M | ||
| Q1 25 | $-22.4M | $-71.8M | ||
| Q4 24 | $-39.5M | $-227.0M | ||
| Q3 24 | $7.1M | $-83.2M | ||
| Q2 24 | $18.8M | $-33.2M | ||
| Q1 24 | $-45.1M | $-34.5M |
| Q4 25 | -62.4% | -1165.4% | ||
| Q3 25 | -48.8% | -357.3% | ||
| Q2 25 | 9.5% | -200.9% | ||
| Q1 25 | -22.7% | -146.7% | ||
| Q4 24 | -41.9% | -537.6% | ||
| Q3 24 | 8.2% | -345.0% | ||
| Q2 24 | 21.7% | -90.2% | ||
| Q1 24 | -57.6% | -71.7% |
| Q4 25 | 0.5% | 817.1% | ||
| Q3 25 | 1.1% | 287.5% | ||
| Q2 25 | 0.9% | 71.8% | ||
| Q1 25 | 0.4% | 50.2% | ||
| Q4 24 | 0.9% | 330.4% | ||
| Q3 24 | 1.1% | 317.8% | ||
| Q2 24 | 2.9% | 21.4% | ||
| Q1 24 | 7.8% | 16.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -5.00× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.67× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
CIFR
Segment breakdown not available.
