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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and C4 Therapeutics, Inc. (CCCC). Click either name above to swap in a different company.
C4 Therapeutics, Inc. is the larger business by last-quarter revenue ($11.0M vs $7.1M, roughly 1.6× Borealis Foods Inc.). Borealis Foods Inc. runs the higher net margin — -53.2% vs -186.0%, a 132.7% gap on every dollar of revenue. On growth, C4 Therapeutics, Inc. posted the faster year-over-year revenue change (112.8% vs -12.0%). Over the past eight quarters, C4 Therapeutics, Inc.'s revenue compounded faster (90.4% CAGR vs -2.4%).
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.
C4 Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on developing targeted protein degradation therapies for cancer and other severe diseases with high unmet medical needs. It leverages its proprietary TORPEDO platform to design small molecule degraders that eliminate disease-causing proteins, with a pipeline of oncology candidates in preclinical and clinical development, plus strategic partnerships with leading global pharmaceutical firms.
BRLS vs CCCC — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $11.0M |
| Net Profit | $-3.8M | $-20.5M |
| Gross Margin | 14.6% | — |
| Operating Margin | -27.1% | -210.1% |
| Net Margin | -53.2% | -186.0% |
| Revenue YoY | -12.0% | 112.8% |
| Net Profit YoY | 21.8% | 40.7% |
| EPS (diluted) | $-0.18 | $-0.09 |
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 | — | $11.0M | ||
| Q3 25 | $7.1M | $11.2M | ||
| Q2 25 | $7.2M | $6.5M | ||
| Q1 25 | $6.8M | $7.2M | ||
| Q4 24 | $6.8M | $5.2M | ||
| Q3 24 | $8.1M | $15.4M | ||
| Q2 24 | $5.5M | $12.0M | ||
| Q1 24 | $7.9M | $3.0M |
| Q4 25 | — | $-20.5M | ||
| Q3 25 | $-3.8M | $-32.2M | ||
| Q2 25 | $-4.6M | $-26.0M | ||
| Q1 25 | $-4.2M | $-26.3M | ||
| Q4 24 | $-5.8M | $-34.6M | ||
| Q3 24 | $-4.8M | $-24.7M | ||
| Q2 24 | $-6.3M | $-17.7M | ||
| Q1 24 | $-8.4M | $-28.4M |
| Q4 25 | — | — | ||
| Q3 25 | 14.6% | — | ||
| Q2 25 | 7.2% | — | ||
| Q1 25 | 13.1% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 15.8% | — | ||
| Q2 24 | 7.7% | — | ||
| Q1 24 | 3.1% | — |
| Q4 25 | — | -210.1% | ||
| Q3 25 | -27.1% | -306.4% | ||
| Q2 25 | -46.7% | -441.0% | ||
| Q1 25 | -42.6% | -402.9% | ||
| Q4 24 | -68.4% | -728.4% | ||
| Q3 24 | -44.8% | -183.9% | ||
| Q2 24 | -94.8% | -178.6% | ||
| Q1 24 | -88.3% | -1060.2% |
| Q4 25 | — | -186.0% | ||
| Q3 25 | -53.2% | -286.4% | ||
| Q2 25 | -64.0% | -402.6% | ||
| Q1 25 | -61.2% | -363.7% | ||
| Q4 24 | -85.3% | -667.8% | ||
| Q3 24 | -59.8% | -160.6% | ||
| Q2 24 | -115.0% | -147.6% | ||
| Q1 24 | -106.8% | -933.2% |
| Q4 25 | — | $-0.09 | ||
| Q3 25 | $-0.18 | $-0.44 | ||
| Q2 25 | $0.21 | $-0.37 | ||
| Q1 25 | $-0.20 | $-0.37 | ||
| Q4 24 | $-0.82 | $-0.50 | ||
| Q3 24 | $-0.23 | $-0.35 | ||
| Q2 24 | $0.29 | $-0.26 | ||
| Q1 24 | $-0.49 | $-0.41 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $74.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $256.6M |
| Total Assets | $56.3M | $359.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $74.6M | ||
| Q3 25 | — | $58.8M | ||
| Q2 25 | — | $78.2M | ||
| Q1 25 | — | $51.3M | ||
| Q4 24 | — | $55.5M | ||
| Q3 24 | — | $59.6M | ||
| Q2 24 | — | $73.1M | ||
| Q1 24 | — | $89.7M |
| Q4 25 | — | $256.6M | ||
| Q3 25 | $-12.9M | $154.4M | ||
| Q2 25 | $-9.2M | $174.1M | ||
| Q1 25 | $-4.8M | $195.1M | ||
| Q4 24 | $-695.9K | $216.0M | ||
| Q3 24 | $5.1M | $242.7M | ||
| Q2 24 | $9.9M | $247.1M | ||
| Q1 24 | $16.2M | $258.3M |
| Q4 25 | — | $359.1M | ||
| Q3 25 | $56.3M | $265.5M | ||
| Q2 25 | $57.3M | $296.5M | ||
| Q1 25 | $58.4M | $319.5M | ||
| Q4 24 | $60.0M | $349.6M | ||
| Q3 24 | $61.9M | $376.1M | ||
| Q2 24 | $63.6M | $381.1M | ||
| Q1 24 | $70.3M | $398.4M |
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 | $-22.1M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-22.1M | ||
| Q3 25 | $-190.6K | $-31.2M | ||
| Q2 25 | $-2.2M | $-12.1M | ||
| Q1 25 | $-1.4M | $-33.3M | ||
| Q4 24 | $-819.4K | $-17.9M | ||
| Q3 24 | $-3.3M | $-24.1M | ||
| Q2 24 | $-4.2M | $-5.0M | ||
| Q1 24 | $-6.8M | $-18.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | $-31.6M | ||
| Q2 25 | — | — | ||
| Q1 25 | $-1.4M | — | ||
| Q4 24 | $-951.6K | $-17.9M | ||
| Q3 24 | $-3.7M | $-24.1M | ||
| Q2 24 | $-4.7M | $-5.2M | ||
| Q1 24 | $-7.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -281.5% | ||
| Q2 25 | — | — | ||
| Q1 25 | -20.3% | — | ||
| Q4 24 | -14.1% | -346.5% | ||
| Q3 24 | -46.1% | -157.2% | ||
| Q2 24 | -86.7% | -43.1% | ||
| Q1 24 | -92.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 3.7% | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 2.0% | 0.1% | ||
| Q3 24 | 5.6% | 0.1% | ||
| Q2 24 | 9.4% | 1.6% | ||
| Q1 24 | 7.0% | 0.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
