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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and BEYOND MEAT, INC. (BYND). Click either name above to swap in a different company.
BEYOND MEAT, INC. is the larger business by last-quarter revenue ($61.6M vs $7.1M, roughly 8.7× Borealis Foods Inc.). On growth, Borealis Foods Inc. posted the faster year-over-year revenue change (-12.0% vs -19.7%). Over the past eight quarters, Borealis Foods Inc.'s revenue compounded faster (-2.4% CAGR vs -9.7%).
Borealis Foods Inc is a food technology enterprise specializing in developing and producing high-quality plant-based protein products including plant-based meat alternatives. It mainly serves retail and food service customers across North America and Europe, focusing on delivering affordable, nutritious sustainable food options matching the taste of conventional animal-derived meat.
Beyond Meat, Inc., branded as Beyond, is a producer of plant-based meat alternatives founded in 2009 by Ethan Brown. The company's products were first launched in the United States in 2012.
BRLS vs BYND — Head-to-Head
Income Statement — Q3 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $61.6M |
| Net Profit | $-3.8M | — |
| Gross Margin | 14.6% | -11.5% |
| Operating Margin | -27.1% | -211.4% |
| Net Margin | -53.2% | — |
| Revenue YoY | -12.0% | -19.7% |
| Net Profit YoY | 21.8% | — |
| EPS (diluted) | $-0.18 | $0.68 |
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 | — | $61.6M | ||
| Q3 25 | $7.1M | $70.2M | ||
| Q2 25 | $7.2M | $75.0M | ||
| Q1 25 | $6.8M | $68.7M | ||
| Q4 24 | $6.8M | $76.7M | ||
| Q3 24 | $8.1M | $81.0M | ||
| Q2 24 | $5.5M | $93.2M | ||
| Q1 24 | $7.9M | $75.6M |
| Q4 25 | — | — | ||
| Q3 25 | $-3.8M | $-110.7M | ||
| Q2 25 | $-4.6M | $-29.2M | ||
| Q1 25 | $-4.2M | $-52.9M | ||
| Q4 24 | $-5.8M | — | ||
| Q3 24 | $-4.8M | $-26.6M | ||
| Q2 24 | $-6.3M | $-34.5M | ||
| Q1 24 | $-8.4M | $-54.4M |
| Q4 25 | — | -11.5% | ||
| Q3 25 | 14.6% | 10.3% | ||
| Q2 25 | 7.2% | 11.5% | ||
| Q1 25 | 13.1% | -1.5% | ||
| Q4 24 | 3.7% | 13.1% | ||
| Q3 24 | 15.8% | 17.7% | ||
| Q2 24 | 7.7% | 14.7% | ||
| Q1 24 | 3.1% | 4.9% |
| Q4 25 | — | -211.4% | ||
| Q3 25 | -27.1% | -160.0% | ||
| Q2 25 | -46.7% | -46.6% | ||
| Q1 25 | -42.6% | -81.8% | ||
| Q4 24 | -68.4% | -49.3% | ||
| Q3 24 | -44.8% | -38.2% | ||
| Q2 24 | -94.8% | -36.4% | ||
| Q1 24 | -88.3% | -70.7% |
| Q4 25 | — | — | ||
| Q3 25 | -53.2% | -157.6% | ||
| Q2 25 | -64.0% | -39.0% | ||
| Q1 25 | -61.2% | -77.0% | ||
| Q4 24 | -85.3% | — | ||
| Q3 24 | -59.8% | -32.8% | ||
| Q2 24 | -115.0% | -37.0% | ||
| Q1 24 | -106.8% | -71.9% |
| Q4 25 | — | $0.68 | ||
| Q3 25 | $-0.18 | $-1.44 | ||
| Q2 25 | $0.21 | $-0.38 | ||
| Q1 25 | $-0.20 | $-0.69 | ||
| Q4 24 | $-0.82 | $-0.65 | ||
| Q3 24 | $-0.23 | $-0.41 | ||
| Q2 24 | $0.29 | $-0.53 | ||
| Q1 24 | $-0.49 | $-0.84 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $203.9M |
| Total DebtLower is stronger | — | $415.7M |
| Stockholders' EquityBook value | $-12.9M | $-997.0K |
| Total Assets | $56.3M | $614.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $203.9M | ||
| Q3 25 | — | $117.3M | ||
| Q2 25 | — | $103.5M | ||
| Q1 25 | — | $102.1M | ||
| Q4 24 | — | $131.9M | ||
| Q3 24 | — | $121.7M | ||
| Q2 24 | — | $144.9M | ||
| Q1 24 | — | $157.9M |
| Q4 25 | — | $415.7M | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | — | $-997.0K | ||
| Q3 25 | $-12.9M | $-784.1M | ||
| Q2 25 | $-9.2M | $-677.0M | ||
| Q1 25 | $-4.8M | $-649.5M | ||
| Q4 24 | $-695.9K | $-601.2M | ||
| Q3 24 | $5.1M | $-611.9M | ||
| Q2 24 | $9.9M | $-590.0M | ||
| Q1 24 | $16.2M | $-561.4M |
| Q4 25 | — | $614.7M | ||
| Q3 25 | $56.3M | $599.7M | ||
| Q2 25 | $57.3M | $691.7M | ||
| Q1 25 | $58.4M | $643.8M | ||
| Q4 24 | $60.0M | $678.1M | ||
| Q3 24 | $61.9M | $692.9M | ||
| Q2 24 | $63.6M | $711.2M | ||
| Q1 24 | $70.3M | $735.0M |
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 | $-190.6K | $-46.8M |
| Free Cash FlowOCF − Capex | — | $-49.8M |
| FCF MarginFCF / Revenue | — | -80.8% |
| Capex IntensityCapex / Revenue | — | 4.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-157.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-46.8M | ||
| Q3 25 | $-190.6K | $-38.8M | ||
| Q2 25 | $-2.2M | $-33.2M | ||
| Q1 25 | $-1.4M | $-26.1M | ||
| Q4 24 | $-819.4K | $-29.0M | ||
| Q3 24 | $-3.3M | $-22.0M | ||
| Q2 24 | $-4.2M | $-16.0M | ||
| Q1 24 | $-6.8M | $-31.8M |
| Q4 25 | — | $-49.8M | ||
| Q3 25 | — | $-41.7M | ||
| Q2 25 | — | $-35.1M | ||
| Q1 25 | $-1.4M | $-30.6M | ||
| Q4 24 | $-951.6K | $-35.4M | ||
| Q3 24 | $-3.7M | $-24.1M | ||
| Q2 24 | $-4.7M | $-17.3M | ||
| Q1 24 | $-7.3M | $-33.0M |
| Q4 25 | — | -80.8% | ||
| Q3 25 | — | -59.4% | ||
| Q2 25 | — | -46.9% | ||
| Q1 25 | -20.3% | -44.6% | ||
| Q4 24 | -14.1% | -46.2% | ||
| Q3 24 | -46.1% | -29.7% | ||
| Q2 24 | -86.7% | -18.6% | ||
| Q1 24 | -92.7% | -43.7% |
| Q4 25 | — | 4.8% | ||
| Q3 25 | — | 4.1% | ||
| Q2 25 | — | 2.6% | ||
| Q1 25 | 0.2% | 6.5% | ||
| Q4 24 | 2.0% | 8.4% | ||
| Q3 24 | 5.6% | 2.5% | ||
| Q2 24 | 9.4% | 1.4% | ||
| Q1 24 | 7.0% | 1.6% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
