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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and CSP INC (CSPI). Click either name above to swap in a different company.
CSP INC is the larger business by last-quarter revenue ($12.0M vs $7.1M, roughly 1.7× Borealis Foods Inc.). CSP INC runs the higher net margin — 0.8% vs -53.2%, a 54.0% gap on every dollar of revenue. On growth, Borealis Foods Inc. posted the faster year-over-year revenue change (-12.0% vs -23.2%). Over the past eight quarters, Borealis Foods Inc.'s revenue compounded faster (-2.4% CAGR vs -6.3%).
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.
CSP Inc. is a U.S.-based technology firm offering cybersecurity solutions, managed IT services, high-performance computing systems, and IT consulting support. It serves enterprises across healthcare, finance, manufacturing, and public sectors in North America and select global markets.
BRLS vs CSPI — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $12.0M |
| Net Profit | $-3.8M | $91.0K |
| Gross Margin | 14.6% | 39.3% |
| Operating Margin | -27.1% | -0.9% |
| Net Margin | -53.2% | 0.8% |
| Revenue YoY | -12.0% | -23.2% |
| Net Profit YoY | 21.8% | -80.7% |
| EPS (diluted) | $-0.18 | $0.01 |
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 | — | $12.0M | ||
| Q3 25 | $7.1M | $14.5M | ||
| Q2 25 | $7.2M | $15.4M | ||
| Q1 25 | $6.8M | $13.1M | ||
| Q4 24 | $6.8M | $15.7M | ||
| Q3 24 | $8.1M | $13.0M | ||
| Q2 24 | $5.5M | $13.1M | ||
| Q1 24 | $7.9M | $13.7M |
| Q4 25 | — | $91.0K | ||
| Q3 25 | $-3.8M | $-191.0K | ||
| Q2 25 | $-4.6M | $-264.0K | ||
| Q1 25 | $-4.2M | $-108.0K | ||
| Q4 24 | $-5.8M | $472.0K | ||
| Q3 24 | $-4.8M | $-1.7M | ||
| Q2 24 | $-6.3M | $-185.0K | ||
| Q1 24 | $-8.4M | $1.6M |
| Q4 25 | — | 39.3% | ||
| Q3 25 | 14.6% | 36.6% | ||
| Q2 25 | 7.2% | 28.8% | ||
| Q1 25 | 13.1% | 32.0% | ||
| Q4 24 | 3.7% | 29.1% | ||
| Q3 24 | 15.8% | 28.4% | ||
| Q2 24 | 7.7% | 35.0% | ||
| Q1 24 | 3.1% | 47.3% |
| Q4 25 | — | -0.9% | ||
| Q3 25 | -27.1% | -3.7% | ||
| Q2 25 | -46.7% | -7.9% | ||
| Q1 25 | -42.6% | -7.6% | ||
| Q4 24 | -68.4% | -2.3% | ||
| Q3 24 | -44.8% | -15.7% | ||
| Q2 24 | -94.8% | -5.5% | ||
| Q1 24 | -88.3% | 9.0% |
| Q4 25 | — | 0.8% | ||
| Q3 25 | -53.2% | -1.3% | ||
| Q2 25 | -64.0% | -1.7% | ||
| Q1 25 | -61.2% | -0.8% | ||
| Q4 24 | -85.3% | 3.0% | ||
| Q3 24 | -59.8% | -12.7% | ||
| Q2 24 | -115.0% | -1.4% | ||
| Q1 24 | -106.8% | 11.6% |
| Q4 25 | — | $0.01 | ||
| Q3 25 | $-0.18 | $-0.02 | ||
| Q2 25 | $0.21 | $-0.03 | ||
| Q1 25 | $-0.20 | $-0.01 | ||
| Q4 24 | $-0.82 | $0.05 | ||
| Q3 24 | $-0.23 | $-0.17 | ||
| Q2 24 | $0.29 | $-0.02 | ||
| Q1 24 | $-0.49 | $0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $24.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $44.8M |
| Total Assets | $56.3M | $69.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $24.9M | ||
| Q3 25 | — | $27.4M | ||
| Q2 25 | — | $26.3M | ||
| Q1 25 | — | $29.5M | ||
| Q4 24 | — | $30.7M | ||
| Q3 24 | — | $30.6M | ||
| Q2 24 | — | $28.9M | ||
| Q1 24 | — | $27.1M |
| Q4 25 | — | $44.8M | ||
| Q3 25 | $-12.9M | $44.6M | ||
| Q2 25 | $-9.2M | $47.5M | ||
| Q1 25 | $-4.8M | $47.5M | ||
| Q4 24 | $-695.9K | $47.5M | ||
| Q3 24 | $5.1M | $47.3M | ||
| Q2 24 | $9.9M | $48.1M | ||
| Q1 24 | $16.2M | $48.2M |
| Q4 25 | — | $69.2M | ||
| Q3 25 | $56.3M | $71.2M | ||
| Q2 25 | $57.3M | $66.8M | ||
| Q1 25 | $58.4M | $67.1M | ||
| Q4 24 | $60.0M | $67.5M | ||
| Q3 24 | $61.9M | $69.4M | ||
| Q2 24 | $63.6M | $66.8M | ||
| Q1 24 | $70.3M | $64.2M |
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 | $-2.9M |
| Free Cash FlowOCF − Capex | — | $-3.0M |
| FCF MarginFCF / Revenue | — | -25.1% |
| Capex IntensityCapex / Revenue | — | 0.9% |
| Cash ConversionOCF / Net Profit | — | -32.04× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-2.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-2.9M | ||
| Q3 25 | $-190.6K | $1.9M | ||
| Q2 25 | $-2.2M | $-3.3M | ||
| Q1 25 | $-1.4M | $1.9M | ||
| Q4 24 | $-819.4K | $1.7M | ||
| Q3 24 | $-3.3M | $-1.5M | ||
| Q2 24 | $-4.2M | $2.4M | ||
| Q1 24 | $-6.8M | $1.7M |
| Q4 25 | — | $-3.0M | ||
| Q3 25 | — | $1.7M | ||
| Q2 25 | — | $-3.3M | ||
| Q1 25 | $-1.4M | $1.9M | ||
| Q4 24 | $-951.6K | $1.7M | ||
| Q3 24 | $-3.7M | $-1.5M | ||
| Q2 24 | $-4.7M | $2.4M | ||
| Q1 24 | $-7.3M | $1.6M |
| Q4 25 | — | -25.1% | ||
| Q3 25 | — | 11.5% | ||
| Q2 25 | — | -21.7% | ||
| Q1 25 | -20.3% | 14.5% | ||
| Q4 24 | -14.1% | 10.8% | ||
| Q3 24 | -46.1% | -11.7% | ||
| Q2 24 | -86.7% | 17.9% | ||
| Q1 24 | -92.7% | 11.9% |
| Q4 25 | — | 0.9% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 0.4% | ||
| Q1 25 | 0.2% | 0.1% | ||
| Q4 24 | 2.0% | 0.3% | ||
| Q3 24 | 5.6% | 0.1% | ||
| Q2 24 | 9.4% | 0.3% | ||
| Q1 24 | 7.0% | 0.1% |
| Q4 25 | — | -32.04× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.69× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BRLS
Segment breakdown not available.
CSPI
| Products | $6.7M | 56% |
| Services | $5.3M | 44% |
