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Side-by-side financial comparison of Amber International Holding Ltd (AMBR) and BIT ORIGIN Ltd (BTOG). Click either name above to swap in a different company.

BIT ORIGIN Ltd is the larger business by last-quarter revenue ($2.9M vs $1.9M, roughly 1.5× Amber International Holding Ltd). Amber International Holding Ltd runs the higher net margin — 87.5% vs -244.4%, a 331.9% gap on every dollar of revenue.

Amber Road, Inc. (NYSE: AMBR) was a US-based software company specializing in Global Trade Management (GTM) solutions. It was acquired by E2open in 2019.

Origin Systems, Inc. was an American video game developer based in Austin, Texas. It was founded on March 3, 1983, by Richard Garriott and his brother Robert. Origin is best known for their groundbreaking work in multiple genres of video games, such as the Ultima and Wing Commander series. The company was purchased by Electronic Arts in 1992.

AMBR vs BTOG — Head-to-Head

Bigger by revenue
BTOG
BTOG
1.5× larger
BTOG
$2.9M
$1.9M
AMBR
Higher net margin
AMBR
AMBR
331.9% more per $
AMBR
87.5%
-244.4%
BTOG

Income Statement — Q2 FY2025 vs Q2 FY2024

Metric
AMBR
AMBR
BTOG
BTOG
Revenue
$1.9M
$2.9M
Net Profit
$1.6M
$-7.1M
Gross Margin
39.9%
Operating Margin
1.5%
-233.8%
Net Margin
87.5%
-244.4%
Revenue YoY
Net Profit YoY
EPS (diluted)
$0.02
$-1.99

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AMBR
AMBR
BTOG
BTOG
Cash + ST InvestmentsLiquidity on hand
$25.8M
$6.9M
Total DebtLower is stronger
Stockholders' EquityBook value
$91.3M
$9.0M
Total Assets
$248.2M
$13.5M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AMBR
AMBR
BTOG
BTOG
Q2 25
$25.8M
Q4 23
$6.9M
Stockholders' Equity
AMBR
AMBR
BTOG
BTOG
Q2 25
$91.3M
Q4 23
$9.0M
Total Assets
AMBR
AMBR
BTOG
BTOG
Q2 25
$248.2M
Q4 23
$13.5M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AMBR
AMBR
BTOG
BTOG
Operating Cash FlowLast quarter
$-4.1M
$-4.6M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
-2.49×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AMBR
AMBR
BTOG
BTOG
Q2 25
$-4.1M
Q4 23
$-4.6M
Cash Conversion
AMBR
AMBR
BTOG
BTOG
Q2 25
-2.49×
Q4 23

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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