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Side-by-side financial comparison of Borr Drilling Ltd (BORR) and JFrog Ltd (FROG). Click either name above to swap in a different company.
Borr Drilling Ltd is the larger business by last-quarter revenue ($267.7M vs $145.3M, roughly 1.8× JFrog Ltd). Borr Drilling Ltd runs the higher net margin — 13.1% vs -10.5%, a 23.6% gap on every dollar of revenue. On growth, JFrog Ltd posted the faster year-over-year revenue change (25.2% vs -1.5%).
Borr Drilling Ltd is a global offshore drilling contractor owning and operating a modern fleet of high-spec jack-up rigs. It offers drilling services to oil and gas exploration and production firms, with main operations across the North Sea, Southeast Asia, Middle East, and West Africa for shallow-water and marginal field projects.
JFrog Ltd is a global DevOps technology provider that delivers end-to-end software release, artifact management, and security solutions. It serves clients across tech, finance, retail, and manufacturing sectors, helping teams streamline development and delivery workflows for cloud, on-premises, and hybrid infrastructure.
BORR vs FROG — Head-to-Head
Income Statement — Q2 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $267.7M | $145.3M |
| Net Profit | $35.1M | $-15.2M |
| Gross Margin | — | 77.9% |
| Operating Margin | 36.0% | -14.7% |
| Net Margin | 13.1% | -10.5% |
| Revenue YoY | -1.5% | 25.2% |
| Net Profit YoY | 10.7% | 34.4% |
| EPS (diluted) | $0.14 | $-0.13 |
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 | — | $145.3M | ||
| Q3 25 | — | $136.9M | ||
| Q2 25 | $267.7M | $127.2M | ||
| Q1 25 | — | $122.4M | ||
| Q4 24 | — | $116.1M | ||
| Q3 24 | — | $109.1M | ||
| Q2 24 | $271.9M | $103.0M | ||
| Q1 24 | — | $100.3M |
| Q4 25 | — | $-15.2M | ||
| Q3 25 | — | $-16.4M | ||
| Q2 25 | $35.1M | $-21.7M | ||
| Q1 25 | — | $-18.5M | ||
| Q4 24 | — | $-23.2M | ||
| Q3 24 | — | $-22.9M | ||
| Q2 24 | $31.7M | $-14.3M | ||
| Q1 24 | — | $-8.8M |
| Q4 25 | — | 77.9% | ||
| Q3 25 | — | 77.4% | ||
| Q2 25 | — | 76.3% | ||
| Q1 25 | — | 75.3% | ||
| Q4 24 | — | 75.4% | ||
| Q3 24 | — | 75.0% | ||
| Q2 24 | — | 78.8% | ||
| Q1 24 | — | 79.5% |
| Q4 25 | — | -14.7% | ||
| Q3 25 | — | -15.8% | ||
| Q2 25 | 36.0% | -20.4% | ||
| Q1 25 | — | -18.8% | ||
| Q4 24 | — | -21.9% | ||
| Q3 24 | — | -27.4% | ||
| Q2 24 | 38.4% | -18.6% | ||
| Q1 24 | — | -16.6% |
| Q4 25 | — | -10.5% | ||
| Q3 25 | — | -12.0% | ||
| Q2 25 | 13.1% | -17.0% | ||
| Q1 25 | — | -15.1% | ||
| Q4 24 | — | -20.0% | ||
| Q3 24 | — | -21.0% | ||
| Q2 24 | 11.7% | -13.9% | ||
| Q1 24 | — | -8.8% |
| Q4 25 | — | $-0.13 | ||
| Q3 25 | — | $-0.14 | ||
| Q2 25 | $0.14 | $-0.19 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | — | $-0.21 | ||
| Q3 24 | — | $-0.21 | ||
| Q2 24 | $0.12 | $-0.13 | ||
| Q1 24 | — | $-0.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $92.4M | $704.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.0B | $887.4M |
| Total Assets | $3.4B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $704.4M | ||
| Q3 25 | — | $651.1M | ||
| Q2 25 | $92.4M | $611.7M | ||
| Q1 25 | — | $563.5M | ||
| Q4 24 | — | $522.0M | ||
| Q3 24 | — | $467.8M | ||
| Q2 24 | $195.3M | $591.3M | ||
| Q1 24 | — | $579.6M |
| Q4 25 | — | $887.4M | ||
| Q3 25 | — | $859.4M | ||
| Q2 25 | $1.0B | $826.5M | ||
| Q1 25 | — | $800.0M | ||
| Q4 24 | — | $773.5M | ||
| Q3 24 | — | $756.2M | ||
| Q2 24 | $999.2M | $721.4M | ||
| Q1 24 | — | $707.8M |
| Q4 25 | — | $1.3B | ||
| Q3 25 | — | $1.3B | ||
| Q2 25 | $3.4B | $1.2B | ||
| Q1 25 | — | $1.2B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | $3.2B | $1.0B | ||
| Q1 24 | — | $997.1M |
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 | $6.3M | $50.7M |
| Free Cash FlowOCF − Capex | — | $49.9M |
| FCF MarginFCF / Revenue | — | 34.3% |
| Capex IntensityCapex / Revenue | — | 0.6% |
| Cash ConversionOCF / Net Profit | 0.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $142.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $50.7M | ||
| Q3 25 | — | $30.2M | ||
| Q2 25 | $6.3M | $36.1M | ||
| Q1 25 | — | $28.8M | ||
| Q4 24 | — | $49.1M | ||
| Q3 24 | — | $27.6M | ||
| Q2 24 | $16.0M | $16.7M | ||
| Q1 24 | — | $17.5M |
| Q4 25 | — | $49.9M | ||
| Q3 25 | — | $28.8M | ||
| Q2 25 | — | $35.5M | ||
| Q1 25 | — | $28.1M | ||
| Q4 24 | — | $48.5M | ||
| Q3 24 | — | $26.7M | ||
| Q2 24 | — | $16.0M | ||
| Q1 24 | — | $16.6M |
| Q4 25 | — | 34.3% | ||
| Q3 25 | — | 21.0% | ||
| Q2 25 | — | 27.9% | ||
| Q1 25 | — | 23.0% | ||
| Q4 24 | — | 41.8% | ||
| Q3 24 | — | 24.5% | ||
| Q2 24 | — | 15.5% | ||
| Q1 24 | — | 16.6% |
| Q4 25 | — | 0.6% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.5% | ||
| Q4 24 | — | 0.5% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 0.7% | ||
| Q1 24 | — | 0.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.18× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 0.50× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BORR
| Transferred Over Time | $256.6M | 96% |
| Transferred At Point In Time | $11.1M | 4% |
FROG
Segment breakdown not available.
