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Side-by-side financial comparison of C3.ai, Inc. (AI) and ESTABLISHMENT LABS HOLDINGS INC. (ESTA). Click either name above to swap in a different company.
C3.ai, Inc. is the larger business by last-quarter revenue ($75.1M vs $64.6M, roughly 1.2× ESTABLISHMENT LABS HOLDINGS INC.). On growth, ESTABLISHMENT LABS HOLDINGS INC. posted the faster year-over-year revenue change (45.2% vs -20.3%). ESTABLISHMENT LABS HOLDINGS INC. produced more free cash flow last quarter ($-2.0M vs $-46.9M). Over the past eight quarters, ESTABLISHMENT LABS HOLDINGS INC.'s revenue compounded faster (31.9% 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.
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
AI vs ESTA — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $64.6M |
| Net Profit | $-104.7M | — |
| Gross Margin | 40.4% | 70.5% |
| Operating Margin | -149.2% | -6.1% |
| Net Margin | -139.3% | — |
| Revenue YoY | -20.3% | 45.2% |
| Net Profit YoY | -58.7% | — |
| EPS (diluted) | $-0.75 | $-0.07 |
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 | $64.6M | ||
| Q3 25 | $70.3M | $53.8M | ||
| Q2 25 | $108.7M | $51.3M | ||
| Q1 25 | $98.8M | $41.4M | ||
| Q4 24 | $94.3M | $44.5M | ||
| Q3 24 | $87.2M | $40.2M | ||
| Q2 24 | $86.6M | $44.1M | ||
| Q1 24 | $78.4M | $37.2M |
| Q4 25 | $-104.7M | — | ||
| Q3 25 | $-116.8M | $-11.1M | ||
| Q2 25 | $-79.7M | $-16.6M | ||
| Q1 25 | $-80.2M | $-20.7M | ||
| Q4 24 | $-66.0M | — | ||
| Q3 24 | $-62.8M | $-16.7M | ||
| Q2 24 | $-72.9M | $-17.2M | ||
| Q1 24 | $-72.6M | $-16.2M |
| Q4 25 | 40.4% | 70.5% | ||
| Q3 25 | 37.6% | 70.1% | ||
| Q2 25 | 62.1% | 68.8% | ||
| Q1 25 | 59.1% | 67.2% | ||
| Q4 24 | 61.3% | 68.5% | ||
| Q3 24 | 59.8% | 63.9% | ||
| Q2 24 | 59.6% | 65.6% | ||
| Q1 24 | 57.8% | 65.6% |
| Q4 25 | -149.2% | -6.1% | ||
| Q3 25 | -177.7% | -7.5% | ||
| Q2 25 | -81.8% | -27.5% | ||
| Q1 25 | -88.7% | -41.0% | ||
| Q4 24 | -79.8% | -41.9% | ||
| Q3 24 | -83.2% | -32.7% | ||
| Q2 24 | -95.1% | -21.2% | ||
| Q1 24 | -105.3% | -23.8% |
| Q4 25 | -139.3% | — | ||
| Q3 25 | -166.2% | -20.7% | ||
| Q2 25 | -73.3% | -32.3% | ||
| Q1 25 | -81.2% | -50.1% | ||
| Q4 24 | -69.9% | — | ||
| Q3 24 | -72.0% | -41.5% | ||
| Q2 24 | -84.2% | -38.9% | ||
| Q1 24 | -92.6% | -43.6% |
| Q4 25 | $-0.75 | $-0.07 | ||
| Q3 25 | $-0.86 | $-0.38 | ||
| Q2 25 | $-0.60 | $-0.57 | ||
| Q1 25 | $-0.62 | $-0.70 | ||
| Q4 24 | $-0.52 | $-1.21 | ||
| Q3 24 | $-0.50 | $-0.59 | ||
| Q2 24 | $-0.59 | $-0.62 | ||
| Q1 24 | $-0.60 | $-0.58 |
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 | $75.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $771.9M | $23.5M |
| Total Assets | $961.3M | $357.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $75.6M | ||
| Q3 25 | $711.9M | $70.6M | ||
| Q2 25 | $742.7M | $54.6M | ||
| Q1 25 | $724.3M | $69.2M | ||
| Q4 24 | $730.4M | $90.3M | ||
| Q3 24 | $762.5M | — | ||
| Q2 24 | $750.4M | — | ||
| Q1 24 | $723.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $0 | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $771.9M | $23.5M | ||
| Q3 25 | $798.8M | $16.4M | ||
| Q2 25 | $838.3M | $22.8M | ||
| Q1 25 | $860.2M | $38.5M | ||
| Q4 24 | $859.0M | $53.1M | ||
| Q3 24 | $874.9M | $32.7M | ||
| Q2 24 | $873.4M | $45.0M | ||
| Q1 24 | $898.0M | $56.9M |
| Q4 25 | $961.3M | $357.2M | ||
| Q3 25 | $968.7M | $338.9M | ||
| Q2 25 | $1.0B | $329.7M | ||
| Q1 25 | $1.1B | $333.4M | ||
| Q4 24 | $1.0B | $346.8M | ||
| Q3 24 | $1.1B | $282.7M | ||
| Q2 24 | $1.0B | $285.1M | ||
| Q1 24 | $1.1B | $301.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| 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 | $-162.0K |
| Free Cash FlowOCF − Capex | $-46.9M | $-2.0M |
| FCF MarginFCF / Revenue | -62.4% | -3.1% |
| Capex IntensityCapex / Revenue | 0.5% | 2.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $-56.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $-162.0K | ||
| Q3 25 | $-33.5M | $-11.3M | ||
| Q2 25 | $11.3M | $-18.8M | ||
| Q1 25 | $-22.0M | $-20.7M | ||
| Q4 24 | $-38.7M | $-20.7M | ||
| Q3 24 | $8.0M | $-12.5M | ||
| Q2 24 | $21.3M | $-14.2M | ||
| Q1 24 | $-39.1M | $-11.2M |
| Q4 25 | $-46.9M | $-2.0M | ||
| Q3 25 | $-34.3M | $-13.1M | ||
| Q2 25 | $10.3M | $-20.4M | ||
| Q1 25 | $-22.4M | $-21.5M | ||
| Q4 24 | $-39.5M | $-21.3M | ||
| Q3 24 | $7.1M | $-13.9M | ||
| Q2 24 | $18.8M | $-15.0M | ||
| Q1 24 | $-45.1M | $-14.5M |
| Q4 25 | -62.4% | -3.1% | ||
| Q3 25 | -48.8% | -24.4% | ||
| Q2 25 | 9.5% | -39.7% | ||
| Q1 25 | -22.7% | -51.9% | ||
| Q4 24 | -41.9% | -47.8% | ||
| Q3 24 | 8.2% | -34.6% | ||
| Q2 24 | 21.7% | -33.9% | ||
| Q1 24 | -57.6% | -38.9% |
| Q4 25 | 0.5% | 2.8% | ||
| Q3 25 | 1.1% | 3.4% | ||
| Q2 25 | 0.9% | 3.2% | ||
| Q1 25 | 0.4% | 1.8% | ||
| Q4 24 | 0.9% | 1.2% | ||
| Q3 24 | 1.1% | 3.7% | ||
| Q2 24 | 2.9% | 1.8% | ||
| Q1 24 | 7.8% | 8.9% |
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% |
ESTA
Segment breakdown not available.
