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Side-by-side financial comparison of Bridger Aerospace Group Holdings, Inc. (BAER) and CollPlant Biotechnologies Ltd (CLGN). Click either name above to swap in a different company.

CollPlant Biotechnologies Ltd is the larger business by last-quarter revenue ($10.2M vs $8.5M, roughly 1.2× Bridger Aerospace Group Holdings, Inc.). CollPlant Biotechnologies Ltd runs the higher net margin — 56.6% vs -177.2%, a 233.8% gap on every dollar of revenue. On growth, CollPlant Biotechnologies Ltd posted the faster year-over-year revenue change (15330.3% vs -45.2%).

Bridger Aerospace is an American aerospace company which provides aerial firefighting and wildfire management services. The company has supported firefighting efforts in 24 U.S. states and two Canadian provinces.

CollPlant Biotechnologies Ltd is a regenerative medicine company focused on developing and commercializing advanced products using its proprietary plant-derived human collagen technology. Its core offerings cover wound care, soft tissue repair, and aesthetic medicine solutions, targeting key markets across North America, Europe, and Israel, serving healthcare providers in dermatology, orthopedics and cosmetic care segments.

BAER vs CLGN — Head-to-Head

Bigger by revenue
CLGN
CLGN
1.2× larger
CLGN
$10.2M
$8.5M
BAER
Growing faster (revenue YoY)
CLGN
CLGN
+15375.5% gap
CLGN
15330.3%
-45.2%
BAER
Higher net margin
CLGN
CLGN
233.8% more per $
CLGN
56.6%
-177.2%
BAER

Income Statement — Q4 FY2025 vs Q2 FY2023

Metric
BAER
BAER
CLGN
CLGN
Revenue
$8.5M
$10.2M
Net Profit
$-15.1M
$5.8M
Gross Margin
-65.1%
94.0%
Operating Margin
-175.0%
55.7%
Net Margin
-177.2%
56.6%
Revenue YoY
-45.2%
15330.3%
Net Profit YoY
-17.9%
234.5%
EPS (diluted)
$-0.26
$0.49

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.

Revenue
BAER
BAER
CLGN
CLGN
Q4 25
$8.5M
Q3 25
$67.9M
Q2 25
$30.8M
Q1 25
$15.6M
Q4 24
$15.6M
Q3 24
$64.5M
Q2 24
$13.0M
Q1 24
$5.5M
Net Profit
BAER
BAER
CLGN
CLGN
Q4 25
$-15.1M
Q3 25
$34.5M
Q2 25
$308.0K
Q1 25
$-15.5M
Q4 24
$-12.8M
Q3 24
$27.3M
Q2 24
$-10.0M
Q1 24
$-20.1M
Gross Margin
BAER
BAER
CLGN
CLGN
Q4 25
-65.1%
Q3 25
68.9%
Q2 25
39.2%
Q1 25
-10.0%
Q4 24
1.2%
Q3 24
64.3%
Q2 24
24.2%
Q1 24
Operating Margin
BAER
BAER
CLGN
CLGN
Q4 25
-175.0%
Q3 25
57.5%
Q2 25
18.0%
Q1 25
-64.9%
Q4 24
-48.0%
Q3 24
50.9%
Q2 24
-36.5%
Q1 24
-278.0%
Net Margin
BAER
BAER
CLGN
CLGN
Q4 25
-177.2%
Q3 25
50.8%
Q2 25
1.0%
Q1 25
-99.3%
Q4 24
-82.4%
Q3 24
42.4%
Q2 24
-76.7%
Q1 24
-364.8%
EPS (diluted)
BAER
BAER
CLGN
CLGN
Q4 25
$-0.26
Q3 25
$0.37
Q2 25
$-0.12
Q1 25
$-0.41
Q4 24
$-0.24
Q3 24
$0.31
Q2 24
$-0.33
Q1 24
$-0.55

Balance Sheet & Financial Strength

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

Metric
BAER
BAER
CLGN
CLGN
Cash + ST InvestmentsLiquidity on hand
$31.4M
$22.3M
Total DebtLower is stronger
$222.5M
Stockholders' EquityBook value
$-342.6M
$36.0M
Total Assets
$330.3M
$41.6M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BAER
BAER
CLGN
CLGN
Q4 25
$31.4M
Q3 25
$55.1M
Q2 25
$17.0M
Q1 25
$22.3M
Q4 24
$39.3M
Q3 24
$33.3M
Q2 24
$8.5M
Q1 24
$6.8M
Total Debt
BAER
BAER
CLGN
CLGN
Q4 25
$222.5M
Q3 25
Q2 25
Q1 25
Q4 24
$208.4M
Q3 24
Q2 24
Q1 24
Stockholders' Equity
BAER
BAER
CLGN
CLGN
Q4 25
$-342.6M
Q3 25
$-322.4M
Q2 25
$-351.0M
Q1 25
$-347.4M
Q4 24
$-326.7M
Q3 24
$-304.4M
Q2 24
$-328.0M
Q1 24
$-348.7M
Total Assets
BAER
BAER
CLGN
CLGN
Q4 25
$330.3M
Q3 25
$311.0M
Q2 25
$279.0M
Q1 25
$275.6M
Q4 24
$290.8M
Q3 24
$307.3M
Q2 24
$281.7M
Q1 24
$252.4M

Cash Flow & Capital Efficiency

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

Metric
BAER
BAER
CLGN
CLGN
Operating Cash FlowLast quarter
$-8.0M
Free Cash FlowOCF − Capex
$-78.4M
FCF MarginFCF / Revenue
-917.3%
Capex IntensityCapex / Revenue
823.4%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-64.2M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
BAER
BAER
CLGN
CLGN
Q4 25
$-8.0M
Q3 25
$41.0M
Q2 25
$1.4M
Q1 25
$-17.7M
Q4 24
$54.5M
Q3 24
$200.0K
Q2 24
$-22.6M
Q1 24
$-22.8M
Free Cash Flow
BAER
BAER
CLGN
CLGN
Q4 25
$-78.4M
Q3 25
$34.6M
Q2 25
$515.0K
Q1 25
$-21.0M
Q4 24
$53.5M
Q3 24
$-951.0K
Q2 24
$-23.6M
Q1 24
$-23.7M
FCF Margin
BAER
BAER
CLGN
CLGN
Q4 25
-917.3%
Q3 25
51.0%
Q2 25
1.7%
Q1 25
-134.0%
Q4 24
343.5%
Q3 24
-1.5%
Q2 24
-181.3%
Q1 24
-430.7%
Capex Intensity
BAER
BAER
CLGN
CLGN
Q4 25
823.4%
Q3 25
9.3%
Q2 25
3.0%
Q1 25
21.2%
Q4 24
6.3%
Q3 24
1.8%
Q2 24
7.6%
Q1 24
17.4%
Cash Conversion
BAER
BAER
CLGN
CLGN
Q4 25
Q3 25
1.19×
Q2 25
4.68×
Q1 25
Q4 24
Q3 24
0.01×
Q2 24
Q1 24

Financial Flow Comparison

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

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