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Side-by-side financial comparison of Axsome Therapeutics, Inc. (AXSM) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
Axsome Therapeutics, Inc. is the larger business by last-quarter revenue ($196.0M vs $152.8M, roughly 1.3× Riot Platforms, Inc.). Axsome Therapeutics, Inc. runs the higher net margin — -14.6% vs -452.0%, a 437.4% gap on every dollar of revenue. On growth, Axsome Therapeutics, Inc. posted the faster year-over-year revenue change (65.0% vs 7.2%). Axsome Therapeutics, Inc. produced more free cash flow last quarter ($-18.7M vs $-774.3M). Over the past eight quarters, Axsome Therapeutics, Inc.'s revenue compounded faster (61.7% CAGR vs 38.8%).
Jazz Pharmaceuticals plc is a global biopharmaceutical company with a focus on oncology and neuroscience. It was founded in 2003 in California, United States and is now headquartered in Dublin, Ireland.
Riot Platforms, Inc. is a leading U.S.-based enterprise focused on Bitcoin mining, operating multiple large-scale, energy-efficient data centers across North America. It also invests in blockchain infrastructure development and holds Bitcoin as a core long-term reserve asset, centering its business strategy around the digital asset ecosystem.
AXSM vs RIOT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $196.0M | $152.8M |
| Net Profit | $-28.6M | $-690.7M |
| Gross Margin | — | — |
| Operating Margin | -13.8% | -447.9% |
| Net Margin | -14.6% | -452.0% |
| Revenue YoY | 65.0% | 7.2% |
| Net Profit YoY | 61.9% | -606.3% |
| EPS (diluted) | $-0.55 | $-1.89 |
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 | $196.0M | $152.8M | ||
| Q3 25 | $171.0M | $180.2M | ||
| Q2 25 | $150.0M | $153.0M | ||
| Q1 25 | $121.5M | $161.4M | ||
| Q4 24 | $118.8M | $142.6M | ||
| Q3 24 | $104.8M | $84.8M | ||
| Q2 24 | $87.2M | $70.0M | ||
| Q1 24 | $75.0M | $79.3M |
| Q4 25 | $-28.6M | $-690.7M | ||
| Q3 25 | $-47.2M | $104.5M | ||
| Q2 25 | $-48.0M | $219.5M | ||
| Q1 25 | $-59.4M | $-296.4M | ||
| Q4 24 | $-74.9M | $136.4M | ||
| Q3 24 | $-64.6M | $-154.4M | ||
| Q2 24 | $-79.3M | $-84.4M | ||
| Q1 24 | $-68.4M | $211.8M |
| Q4 25 | -13.8% | -447.9% | ||
| Q3 25 | -27.0% | 44.4% | ||
| Q2 25 | -24.5% | — | ||
| Q1 25 | -46.9% | -144.9% | ||
| Q4 24 | -61.1% | — | ||
| Q3 24 | -59.8% | -143.3% | ||
| Q2 24 | -89.5% | -167.2% | ||
| Q1 24 | -89.7% | — |
| Q4 25 | -14.6% | -452.0% | ||
| Q3 25 | -27.6% | 58.0% | ||
| Q2 25 | -32.0% | 143.4% | ||
| Q1 25 | -48.9% | -183.6% | ||
| Q4 24 | -63.1% | 95.7% | ||
| Q3 24 | -61.7% | -182.1% | ||
| Q2 24 | -91.0% | -120.6% | ||
| Q1 24 | -91.1% | 267.1% |
| Q4 25 | $-0.55 | $-1.89 | ||
| Q3 25 | $-0.94 | $0.26 | ||
| Q2 25 | $-0.97 | $0.58 | ||
| Q1 25 | $-1.22 | $-0.90 | ||
| Q4 24 | $-1.54 | $0.39 | ||
| Q3 24 | $-1.34 | $-0.54 | ||
| Q2 24 | $-1.67 | $-0.32 | ||
| Q1 24 | $-1.44 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $322.9M | $233.5M |
| Total DebtLower is stronger | — | $840.8M |
| Stockholders' EquityBook value | $88.3M | $2.9B |
| Total Assets | $689.8M | $3.9B |
| Debt / EquityLower = less leverage | — | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $322.9M | $233.5M | ||
| Q3 25 | $325.3M | $330.7M | ||
| Q2 25 | $303.0M | $255.4M | ||
| Q1 25 | $300.9M | $163.7M | ||
| Q4 24 | $315.4M | $277.9M | ||
| Q3 24 | $327.3M | $355.7M | ||
| Q2 24 | $315.7M | $481.2M | ||
| Q1 24 | $331.4M | $688.5M |
| Q4 25 | — | $840.8M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | — | $584.6M | ||
| Q3 24 | — | $5.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $88.3M | $2.9B | ||
| Q3 25 | $73.7M | $3.5B | ||
| Q2 25 | $73.1M | $3.3B | ||
| Q1 25 | $53.2M | $2.9B | ||
| Q4 24 | $57.0M | $3.1B | ||
| Q3 24 | $92.9M | $2.7B | ||
| Q2 24 | $102.9M | $2.6B | ||
| Q1 24 | $144.0M | $2.5B |
| Q4 25 | $689.8M | $3.9B | ||
| Q3 25 | $669.3M | $4.5B | ||
| Q2 25 | $639.8M | $4.3B | ||
| Q1 25 | $596.7M | $3.7B | ||
| Q4 24 | $568.5M | $3.9B | ||
| Q3 24 | $561.5M | $2.9B | ||
| Q2 24 | $548.2M | $2.7B | ||
| Q1 24 | $545.7M | $2.6B |
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | 0.00× | ||
| 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 | $-18.7M | $-572.9M |
| Free Cash FlowOCF − Capex | $-18.7M | $-774.3M |
| FCF MarginFCF / Revenue | -9.6% | -506.6% |
| Capex IntensityCapex / Revenue | 0.0% | 131.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.9M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-18.7M | $-572.9M | ||
| Q3 25 | $1.0M | $-114.0M | ||
| Q2 25 | $-32.4M | $-231.3M | ||
| Q1 25 | $-43.4M | $-122.1M | ||
| Q4 24 | $-26.2M | $-255.1M | ||
| Q3 24 | $-18.6M | $-56.3M | ||
| Q2 24 | $-30.1M | $-42.5M | ||
| Q1 24 | $-53.5M | $-57.9M |
| Q4 25 | $-18.7M | $-774.3M | ||
| Q3 25 | $988.0K | $-139.7M | ||
| Q2 25 | $-32.4M | $-291.7M | ||
| Q1 25 | $-43.7M | $-154.9M | ||
| Q4 24 | $-26.2M | $-495.4M | ||
| Q3 24 | $-18.7M | $-127.6M | ||
| Q2 24 | $-30.2M | $-96.1M | ||
| Q1 24 | $-53.6M | $-115.2M |
| Q4 25 | -9.6% | -506.6% | ||
| Q3 25 | 0.6% | -77.5% | ||
| Q2 25 | -21.6% | -190.7% | ||
| Q1 25 | -36.0% | -96.0% | ||
| Q4 24 | -22.1% | -347.5% | ||
| Q3 24 | -17.9% | -150.5% | ||
| Q2 24 | -34.6% | -137.2% | ||
| Q1 24 | -71.4% | -145.2% |
| Q4 25 | 0.0% | 131.8% | ||
| Q3 25 | 0.0% | 14.3% | ||
| Q2 25 | 0.0% | 39.5% | ||
| Q1 25 | 0.3% | 20.4% | ||
| Q4 24 | 0.0% | 168.6% | ||
| Q3 24 | 0.1% | 84.1% | ||
| Q2 24 | 0.1% | 76.5% | ||
| Q1 24 | 0.1% | 72.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | -1.09× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -1.87× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -0.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AXSM
Segment breakdown not available.
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
