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Side-by-side financial comparison of Sphere 3D Corp. (ANY) and Circle Internet Group, Inc. (CRCL). Click either name above to swap in a different company.
Circle Internet Group, Inc. is the larger business by last-quarter revenue ($28.5M vs $2.7M, roughly 10.5× Sphere 3D Corp.). On growth, Circle Internet Group, Inc. posted the faster year-over-year revenue change (5113.5% vs 3.1%). Sphere 3D Corp. produced more free cash flow last quarter ($-6.7M vs $-14.7M).
Sphere 3D Corp is a global technology company specializing in cloud computing, data management, and virtualization solutions. It delivers enterprise-grade products and services tailored for small to medium-sized businesses, large enterprise clients, and public sector entities, focusing on optimizing IT infrastructure efficiency and cutting operational costs for end users.
Circle is a payments technology company. Funded by Jeremy Allaire and Sean Neville in 2013, it is currently headquartered in New York City and issues two types of stablecoin: USDC, which has a conversion rate pegged to the U.S. dollar, and EURC, which is euro-denominated. It also issues USYC, a tokenized money market fund.
ANY vs CRCL — Head-to-Head
Income Statement — Q4 2025 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $2.7M | $28.5M |
| Net Profit | — | $214.4M |
| Gross Margin | — | — |
| Operating Margin | -372.7% | — |
| Net Margin | — | 751.8% |
| Revenue YoY | 3.1% | 5113.5% |
| Net Profit YoY | — | 202.0% |
| EPS (diluted) | $-6.96 | $0.64 |
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 | $2.7M | — | ||
| Q3 25 | $2.6M | $28.5M | ||
| Q2 25 | $3.0M | $23.8M | ||
| Q1 25 | $2.8M | — | ||
| Q4 24 | $2.6M | — | ||
| Q3 24 | $2.4M | $547.0K | ||
| Q2 24 | $4.7M | $6.8M | ||
| Q1 24 | $6.9M | — |
| Q4 25 | — | — | ||
| Q3 25 | $-4.2M | $214.4M | ||
| Q2 25 | $1.7M | $-482.1M | ||
| Q1 25 | $-8.8M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $104.0K | $71.0M | ||
| Q2 24 | $2.1M | $32.9M | ||
| Q1 24 | $-4.5M | — |
| Q4 25 | — | — | ||
| Q3 25 | 25.4% | — | ||
| Q2 25 | 23.8% | — | ||
| Q1 25 | 22.1% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -16.0% | — | ||
| Q2 24 | 15.2% | — | ||
| Q1 24 | 38.0% | — |
| Q4 25 | -372.7% | — | ||
| Q3 25 | -153.8% | — | ||
| Q2 25 | -87.0% | -1367.8% | ||
| Q1 25 | -184.2% | — | ||
| Q4 24 | -328.7% | — | ||
| Q3 24 | -218.8% | — | ||
| Q2 24 | -122.4% | — | ||
| Q1 24 | -26.9% | — |
| Q4 25 | — | — | ||
| Q3 25 | -162.0% | 751.8% | ||
| Q2 25 | 55.2% | -2025.3% | ||
| Q1 25 | -311.9% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.4% | 12979.2% | ||
| Q2 24 | 45.5% | 486.5% | ||
| Q1 24 | -64.5% | — |
| Q4 25 | $-6.96 | — | ||
| Q3 25 | $-0.15 | $0.64 | ||
| Q2 25 | $0.06 | $-4.48 | ||
| Q1 25 | $-0.32 | — | ||
| Q4 24 | $-4.62 | — | ||
| Q3 24 | $0.01 | $0.00 | ||
| Q2 24 | $0.10 | $0.00 | ||
| Q1 24 | $-0.27 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.7M | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $23.3M | $3.0B |
| Total Assets | $25.1M | $76.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7M | — | ||
| Q3 25 | $5.3M | $1.3B | ||
| Q2 25 | $4.7M | $1.1B | ||
| Q1 25 | $2.8M | — | ||
| Q4 24 | $5.4M | — | ||
| Q3 24 | $5.0M | $577.3M | ||
| Q2 24 | $4.3M | $457.5M | ||
| Q1 24 | $9.3M | — |
| Q4 25 | $23.3M | — | ||
| Q3 25 | $29.5M | $3.0B | ||
| Q2 25 | $32.7M | $2.4B | ||
| Q1 25 | $30.7M | — | ||
| Q4 24 | $39.3M | — | ||
| Q3 24 | $35.8M | $557.7M | ||
| Q2 24 | $33.4M | $460.9M | ||
| Q1 24 | $27.5M | — |
| Q4 25 | $25.1M | — | ||
| Q3 25 | $31.1M | $76.8B | ||
| Q2 25 | $34.4M | $64.2B | ||
| Q1 25 | $34.3M | — | ||
| Q4 24 | $43.2M | — | ||
| Q3 24 | $44.3M | — | ||
| Q2 24 | $44.0M | — | ||
| Q1 24 | $42.0M | — |
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 | $-2.7M | $-10.7M |
| Free Cash FlowOCF − Capex | $-6.7M | $-14.7M |
| FCF MarginFCF / Revenue | -247.1% | -51.7% |
| Capex IntensityCapex / Revenue | 147.1% | 14.2% |
| Cash ConversionOCF / Net Profit | — | -0.05× |
| TTM Free Cash FlowTrailing 4 quarters | $-23.6M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.7M | — | ||
| Q3 25 | $-3.5M | $-10.7M | ||
| Q2 25 | $-5.8M | — | ||
| Q1 25 | $-4.1M | — | ||
| Q4 24 | $-1.5M | — | ||
| Q3 24 | $290.0K | — | ||
| Q2 24 | $-3.3M | — | ||
| Q1 24 | $-58.0K | — |
| Q4 25 | $-6.7M | — | ||
| Q3 25 | $-5.7M | $-14.7M | ||
| Q2 25 | $-6.0M | — | ||
| Q1 25 | $-5.1M | — | ||
| Q4 24 | $-5.8M | — | ||
| Q3 24 | $-4.3M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -247.1% | — | ||
| Q3 25 | -218.7% | -51.7% | ||
| Q2 25 | -200.5% | — | ||
| Q1 25 | -181.2% | — | ||
| Q4 24 | -220.5% | — | ||
| Q3 24 | -184.4% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 147.1% | — | ||
| Q3 25 | 86.5% | 14.2% | ||
| Q2 25 | 6.6% | — | ||
| Q1 25 | 36.4% | — | ||
| Q4 24 | 163.3% | — | ||
| Q3 24 | 196.7% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -0.05× | ||
| Q2 25 | -3.51× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 2.79× | — | ||
| Q2 24 | -1.55× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ANY
Segment breakdown not available.
CRCL
| Subscription And Services Revenue | $23.6M | 83% |
| Transaction Services | $4.7M | 16% |
