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Side-by-side financial comparison of Sphere 3D Corp. (ANY) and SES AI Corp (SES). Click either name above to swap in a different company.
SES AI Corp is the larger business by last-quarter revenue ($4.6M vs $2.7M, roughly 1.7× Sphere 3D Corp.). SES AI Corp produced more free cash flow last quarter ($-11.1M vs $-23.6M).
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.
SES S.A. is a Luxembourgish communications satellite operator supplying video and data connectivity worldwide to broadcasters, content and internet service providers, mobile and fixed network operators, governments and institutions.
ANY vs SES — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.7M | $4.6M |
| Net Profit | — | $-17.0M |
| Gross Margin | — | 11.3% |
| Operating Margin | -372.7% | -387.7% |
| Net Margin | — | -373.5% |
| Revenue YoY | 3.1% | — |
| Net Profit YoY | — | 50.7% |
| EPS (diluted) | $-6.96 | $-0.05 |
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 | $4.6M | ||
| Q3 25 | $2.6M | $7.1M | ||
| Q2 25 | $3.0M | $3.5M | ||
| Q1 25 | $2.8M | $5.8M | ||
| Q4 24 | $2.6M | — | ||
| Q3 24 | $2.4M | — | ||
| Q2 24 | $4.7M | — | ||
| Q1 24 | $6.9M | — |
| Q4 25 | — | $-17.0M | ||
| Q3 25 | $-4.2M | $-20.9M | ||
| Q2 25 | $1.7M | $-22.7M | ||
| Q1 25 | $-8.8M | $-12.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $104.0K | — | ||
| Q2 24 | $2.1M | — | ||
| Q1 24 | $-4.5M | — |
| Q4 25 | — | 11.3% | ||
| Q3 25 | 25.4% | 51.1% | ||
| Q2 25 | 23.8% | 73.7% | ||
| Q1 25 | 22.1% | 78.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | -16.0% | — | ||
| Q2 24 | 15.2% | — | ||
| Q1 24 | 38.0% | — |
| Q4 25 | -372.7% | -387.7% | ||
| Q3 25 | -153.8% | -262.0% | ||
| Q2 25 | -87.0% | -652.3% | ||
| Q1 25 | -184.2% | -401.7% | ||
| Q4 24 | -328.7% | — | ||
| Q3 24 | -218.8% | — | ||
| Q2 24 | -122.4% | — | ||
| Q1 24 | -26.9% | — |
| Q4 25 | — | -373.5% | ||
| Q3 25 | -162.0% | -293.9% | ||
| Q2 25 | 55.2% | -642.2% | ||
| Q1 25 | -311.9% | -214.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.4% | — | ||
| Q2 24 | 45.5% | — | ||
| Q1 24 | -64.5% | — |
| Q4 25 | $-6.96 | $-0.05 | ||
| Q3 25 | $-0.15 | $-0.06 | ||
| Q2 25 | $0.06 | $-0.07 | ||
| Q1 25 | $-0.32 | $-0.04 | ||
| Q4 24 | $-4.62 | — | ||
| Q3 24 | $0.01 | — | ||
| Q2 24 | $0.10 | — | ||
| 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 | $29.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $23.3M | $214.8M |
| Total Assets | $25.1M | $272.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.7M | $29.5M | ||
| Q3 25 | $5.3M | $35.3M | ||
| Q2 25 | $4.7M | $11.8M | ||
| Q1 25 | $2.8M | $56.1M | ||
| Q4 24 | $5.4M | — | ||
| Q3 24 | $5.0M | — | ||
| Q2 24 | $4.3M | — | ||
| Q1 24 | $9.3M | — |
| Q4 25 | $23.3M | $214.8M | ||
| Q3 25 | $29.5M | $228.2M | ||
| Q2 25 | $32.7M | $249.2M | ||
| Q1 25 | $30.7M | $269.9M | ||
| Q4 24 | $39.3M | — | ||
| Q3 24 | $35.8M | — | ||
| Q2 24 | $33.4M | — | ||
| Q1 24 | $27.5M | — |
| Q4 25 | $25.1M | $272.6M | ||
| Q3 25 | $31.1M | $288.8M | ||
| Q2 25 | $34.4M | $290.5M | ||
| Q1 25 | $34.3M | $306.0M | ||
| 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 | $-16.1M | $-10.4M |
| Free Cash FlowOCF − Capex | $-23.6M | $-11.1M |
| FCF MarginFCF / Revenue | -867.3% | -243.7% |
| Capex IntensityCapex / Revenue | 275.4% | 15.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-40.5M | $-61.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-16.1M | $-10.4M | ||
| Q3 25 | $-3.5M | $-14.3M | ||
| Q2 25 | $-5.8M | $-10.8M | ||
| Q1 25 | $-4.1M | $-22.8M | ||
| Q4 24 | $-4.6M | — | ||
| Q3 24 | $290.0K | — | ||
| Q2 24 | $-3.3M | — | ||
| Q1 24 | $-58.0K | — |
| Q4 25 | $-23.6M | $-11.1M | ||
| Q3 25 | $-5.7M | $-14.7M | ||
| Q2 25 | $-6.0M | $-11.6M | ||
| Q1 25 | $-5.1M | $-23.7M | ||
| Q4 24 | $-13.5M | — | ||
| Q3 24 | $-4.3M | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -867.3% | -243.7% | ||
| Q3 25 | -218.7% | -206.9% | ||
| Q2 25 | -200.5% | -329.6% | ||
| Q1 25 | -181.2% | -410.0% | ||
| Q4 24 | -511.9% | — | ||
| Q3 24 | -184.4% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 275.4% | 15.6% | ||
| Q3 25 | 86.5% | 6.0% | ||
| Q2 25 | 6.6% | 22.8% | ||
| Q1 25 | 36.4% | 15.8% | ||
| Q4 24 | 338.7% | — | ||
| Q3 24 | 196.7% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| 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.
