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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and CaliberCos Inc. (CWD). Click either name above to swap in a different company.
Borealis Foods Inc. is the larger business by last-quarter revenue ($7.1M vs $4.1M, roughly 1.7× CaliberCos Inc.). Borealis Foods Inc. runs the higher net margin — -53.2% vs -188.3%, a 135.1% gap on every dollar of revenue. On growth, Borealis Foods Inc. posted the faster year-over-year revenue change (-12.0% vs -52.5%). Over the past eight quarters, Borealis Foods Inc.'s revenue compounded faster (-2.4% CAGR vs -57.6%).
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.
CaliberCos Inc. is a U.S.-headquartered alternative asset management firm focused primarily on real estate investments. It offers a diverse suite of investment vehicles covering commercial, residential, and industrial real estate assets, serving institutional investors, high-net-worth individuals, and retail clients across North America. It also delivers asset management, property operation, and value-add real estate development services to support consistent long-term returns for investors.
BRLS vs CWD — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $4.1M |
| Net Profit | $-3.8M | $-7.7M |
| Gross Margin | 14.6% | — |
| Operating Margin | -27.1% | -196.6% |
| Net Margin | -53.2% | -188.3% |
| Revenue YoY | -12.0% | -52.5% |
| Net Profit YoY | 21.8% | 32.2% |
| EPS (diluted) | $-0.18 | $1.95 |
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 | — | $4.1M | ||
| Q3 25 | $7.1M | $3.6M | ||
| Q2 25 | $7.2M | $5.1M | ||
| Q1 25 | $6.8M | $7.3M | ||
| Q4 24 | $6.8M | $8.7M | ||
| Q3 24 | $8.1M | $11.3M | ||
| Q2 24 | $5.5M | $8.2M | ||
| Q1 24 | $7.9M | $23.0M |
| Q4 25 | — | $-7.7M | ||
| Q3 25 | $-3.8M | $-4.4M | ||
| Q2 25 | $-4.6M | $-5.3M | ||
| Q1 25 | $-4.2M | $-4.4M | ||
| Q4 24 | $-5.8M | $-11.4M | ||
| Q3 24 | $-4.8M | $146.0K | ||
| Q2 24 | $-6.3M | $-4.7M | ||
| Q1 24 | $-8.4M | $-3.8M |
| 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 | — | -196.6% | ||
| Q3 25 | -27.1% | -129.6% | ||
| Q2 25 | -46.7% | -112.4% | ||
| Q1 25 | -42.6% | -62.7% | ||
| Q4 24 | -68.4% | -236.8% | ||
| Q3 24 | -44.8% | 0.0% | ||
| Q2 24 | -94.8% | -65.0% | ||
| Q1 24 | -88.3% | -22.9% |
| Q4 25 | — | -188.3% | ||
| Q3 25 | -53.2% | -120.2% | ||
| Q2 25 | -64.0% | -104.5% | ||
| Q1 25 | -61.2% | -60.7% | ||
| Q4 24 | -85.3% | -247.6% | ||
| Q3 24 | -59.8% | 1.3% | ||
| Q2 24 | -115.0% | -57.8% | ||
| Q1 24 | -106.8% | -16.6% |
| Q4 25 | — | $1.95 | ||
| Q3 25 | $-0.18 | $-1.65 | ||
| Q2 25 | $0.21 | $-4.15 | ||
| Q1 25 | $-0.20 | $-3.85 | ||
| Q4 24 | $-0.82 | $-10.15 | ||
| Q3 24 | $-0.23 | $0.12 | ||
| Q2 24 | $0.29 | $-4.34 | ||
| Q1 24 | $-0.49 | $-3.53 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $2.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $1.3M |
| Total Assets | $56.3M | $135.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.9M | ||
| Q3 25 | — | $10.9M | ||
| Q2 25 | — | $683.0K | ||
| Q1 25 | — | $1.6M | ||
| Q4 24 | — | $2.3M | ||
| Q3 24 | — | $1.6M | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | — | $2.1M |
| Q4 25 | — | $1.3M | ||
| Q3 25 | $-12.9M | $4.2M | ||
| Q2 25 | $-9.2M | $-19.9M | ||
| Q1 25 | $-4.8M | $-15.8M | ||
| Q4 24 | $-695.9K | $-12.6M | ||
| Q3 24 | $5.1M | $-3.8M | ||
| Q2 24 | $9.9M | $-4.7M | ||
| Q1 24 | $16.2M | $-745.0K |
| Q4 25 | — | $135.4M | ||
| Q3 25 | $56.3M | $82.6M | ||
| Q2 25 | $57.3M | $59.3M | ||
| Q1 25 | $58.4M | $103.6M | ||
| Q4 24 | $60.0M | $105.5M | ||
| Q3 24 | $61.9M | $158.6M | ||
| Q2 24 | $63.6M | $195.2M | ||
| Q1 24 | $70.3M | $201.5M |
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 | $-12.1M |
| 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 | — | $-12.1M | ||
| Q3 25 | $-190.6K | $-4.6M | ||
| Q2 25 | $-2.2M | $-1.2M | ||
| Q1 25 | $-1.4M | $-1.7M | ||
| Q4 24 | $-819.4K | $555.0K | ||
| Q3 24 | $-3.3M | $-74.0K | ||
| Q2 24 | $-4.2M | $1.4M | ||
| Q1 24 | $-6.8M | $-1.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-1.4M | — | ||
| Q4 24 | $-951.6K | — | ||
| Q3 24 | $-3.7M | — | ||
| Q2 24 | $-4.7M | — | ||
| Q1 24 | $-7.3M | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -20.3% | — | ||
| Q4 24 | -14.1% | — | ||
| Q3 24 | -46.1% | — | ||
| Q2 24 | -86.7% | — | ||
| Q1 24 | -92.7% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 5.6% | — | ||
| Q2 24 | 9.4% | — | ||
| Q1 24 | 7.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.51× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
