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Side-by-side financial comparison of C3.ai, Inc. (AI) and MFA FINANCIAL, INC. (MFA). Click either name above to swap in a different company.
C3.ai, Inc. is the larger business by last-quarter revenue ($75.1M vs $55.5M, roughly 1.4× MFA FINANCIAL, INC.). On growth, MFA FINANCIAL, INC. posted the faster year-over-year revenue change (9.2% vs -20.3%). Over the past eight quarters, MFA FINANCIAL, INC.'s revenue compounded faster (7.7% 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.
MFA Financial, Inc. is a U.S.-headquartered real estate investment trust (REIT) specializing in investing in and managing residential and commercial mortgage-backed securities, mortgage loans, and other real estate-related financial assets. It caters primarily to institutional and individual investors across the U.S., focusing on delivering stable risk-adjusted returns via rigorous asset screening and risk management frameworks.
AI vs MFA — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $55.5M |
| Net Profit | $-104.7M | — |
| Gross Margin | 40.4% | — |
| Operating Margin | -149.2% | 97.9% |
| Net Margin | -139.3% | — |
| Revenue YoY | -20.3% | 9.2% |
| Net Profit YoY | -58.7% | — |
| EPS (diluted) | $-0.75 | $0.43 |
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 | $55.5M | ||
| Q3 25 | $70.3M | $56.8M | ||
| Q2 25 | $108.7M | $61.3M | ||
| Q1 25 | $98.8M | $57.5M | ||
| Q4 24 | $94.3M | $50.8M | ||
| Q3 24 | $87.2M | $50.6M | ||
| Q2 24 | $86.6M | $53.5M | ||
| Q1 24 | $78.4M | $47.8M |
| Q4 25 | $-104.7M | — | ||
| Q3 25 | $-116.8M | $48.1M | ||
| Q2 25 | $-79.7M | $33.2M | ||
| Q1 25 | $-80.2M | $41.2M | ||
| Q4 24 | $-66.0M | — | ||
| Q3 24 | $-62.8M | $48.2M | ||
| Q2 24 | $-72.9M | $41.9M | ||
| Q1 24 | $-72.6M | $23.2M |
| Q4 25 | 40.4% | — | ||
| Q3 25 | 37.6% | — | ||
| Q2 25 | 62.1% | — | ||
| Q1 25 | 59.1% | — | ||
| Q4 24 | 61.3% | — | ||
| Q3 24 | 59.8% | — | ||
| Q2 24 | 59.6% | — | ||
| Q1 24 | 57.8% | — |
| Q4 25 | -149.2% | 97.9% | ||
| Q3 25 | -177.7% | 84.5% | ||
| Q2 25 | -81.8% | 54.5% | ||
| Q1 25 | -88.7% | 70.0% | ||
| Q4 24 | -79.8% | 6.8% | ||
| Q3 24 | -83.2% | 98.2% | ||
| Q2 24 | -95.1% | 79.1% | ||
| Q1 24 | -105.3% | 50.7% |
| Q4 25 | -139.3% | — | ||
| Q3 25 | -166.2% | 84.7% | ||
| Q2 25 | -73.3% | 54.2% | ||
| Q1 25 | -81.2% | 71.6% | ||
| Q4 24 | -69.9% | — | ||
| Q3 24 | -72.0% | 95.2% | ||
| Q2 24 | -84.2% | 78.4% | ||
| Q1 24 | -92.6% | 48.5% |
| Q4 25 | $-0.75 | $0.43 | ||
| Q3 25 | $-0.86 | $0.35 | ||
| Q2 25 | $-0.60 | $0.21 | ||
| Q1 25 | $-0.62 | $0.31 | ||
| Q4 24 | $-0.52 | $-0.01 | ||
| Q3 24 | $-0.50 | $0.37 | ||
| Q2 24 | $-0.59 | $0.32 | ||
| Q1 24 | $-0.60 | $0.14 |
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 | $213.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $771.9M | $1.8B |
| Total Assets | $961.3M | $13.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | $213.2M | ||
| Q3 25 | $711.9M | $305.2M | ||
| Q2 25 | $742.7M | $275.7M | ||
| Q1 25 | $724.3M | $253.7M | ||
| Q4 24 | $730.4M | $338.9M | ||
| Q3 24 | $762.5M | $305.6M | ||
| Q2 24 | $750.4M | $289.4M | ||
| Q1 24 | $723.3M | $306.3M |
| Q4 25 | $771.9M | $1.8B | ||
| Q3 25 | $798.8M | $1.8B | ||
| Q2 25 | $838.3M | $1.8B | ||
| Q1 25 | $860.2M | $1.8B | ||
| Q4 24 | $859.0M | $1.8B | ||
| Q3 24 | $874.9M | $1.9B | ||
| Q2 24 | $873.4M | $1.9B | ||
| Q1 24 | $898.0M | $1.9B |
| Q4 25 | $961.3M | $13.0B | ||
| Q3 25 | $968.7M | $12.1B | ||
| Q2 25 | $1.0B | $11.7B | ||
| Q1 25 | $1.1B | $11.5B | ||
| Q4 24 | $1.0B | $11.4B | ||
| Q3 24 | $1.1B | $11.2B | ||
| Q2 24 | $1.0B | $11.1B | ||
| Q1 24 | $1.1B | $10.9B |
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 | $76.2M |
| Free Cash FlowOCF − Capex | $-46.9M | — |
| FCF MarginFCF / Revenue | -62.4% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $76.2M | ||
| Q3 25 | $-33.5M | $14.7M | ||
| Q2 25 | $11.3M | $38.5M | ||
| Q1 25 | $-22.0M | $-14.6M | ||
| Q4 24 | $-38.7M | $200.1M | ||
| Q3 24 | $8.0M | $-11.3M | ||
| Q2 24 | $21.3M | $46.5M | ||
| Q1 24 | $-39.1M | $53.5M |
| Q4 25 | $-46.9M | — | ||
| Q3 25 | $-34.3M | — | ||
| Q2 25 | $10.3M | — | ||
| Q1 25 | $-22.4M | — | ||
| Q4 24 | $-39.5M | — | ||
| Q3 24 | $7.1M | — | ||
| Q2 24 | $18.8M | — | ||
| Q1 24 | $-45.1M | — |
| Q4 25 | -62.4% | — | ||
| Q3 25 | -48.8% | — | ||
| Q2 25 | 9.5% | — | ||
| Q1 25 | -22.7% | — | ||
| Q4 24 | -41.9% | — | ||
| Q3 24 | 8.2% | — | ||
| Q2 24 | 21.7% | — | ||
| Q1 24 | -57.6% | — |
| Q4 25 | 0.5% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | 0.9% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 0.9% | — | ||
| Q3 24 | 1.1% | — | ||
| Q2 24 | 2.9% | — | ||
| Q1 24 | 7.8% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 0.31× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | -0.35× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.23× | ||
| Q2 24 | — | 1.11× | ||
| Q1 24 | — | 2.30× |
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% |
MFA
Segment breakdown not available.
