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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and DSS, INC. (DSS). 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× DSS, INC.). Borealis Foods Inc. runs the higher net margin — -53.2% vs -420.6%, a 367.4% gap on every dollar of revenue. On growth, Borealis Foods Inc. posted the faster year-over-year revenue change (-12.0% vs -23.8%). Over the past eight quarters, DSS, INC.'s revenue compounded faster (3.2% 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.

DSS, Inc. is a diversified technology company offering product authentication solutions, secure identification services, blockchain-based innovation, digital asset management tools, and healthcare technology products. It primarily serves North American, Asian, and European markets across consumer goods, financial services, and healthcare core segments.

BRLS vs DSS — Head-to-Head

Bigger by revenue
BRLS
BRLS
1.7× larger
BRLS
$7.1M
$4.1M
DSS
Growing faster (revenue YoY)
BRLS
BRLS
+11.8% gap
BRLS
-12.0%
-23.8%
DSS
Higher net margin
BRLS
BRLS
367.4% more per $
BRLS
-53.2%
-420.6%
DSS
Faster 2-yr revenue CAGR
DSS
DSS
Annualised
DSS
3.2%
-2.4%
BRLS

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
BRLS
BRLS
DSS
DSS
Revenue
$7.1M
$4.1M
Net Profit
$-3.8M
$-17.4M
Gross Margin
14.6%
Operating Margin
-27.1%
-98.1%
Net Margin
-53.2%
-420.6%
Revenue YoY
-12.0%
-23.8%
Net Profit YoY
21.8%
47.2%
EPS (diluted)
$-0.18

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.

Revenue
BRLS
BRLS
DSS
DSS
Q4 25
$4.1M
Q3 25
$7.1M
$6.4M
Q2 25
$7.2M
$5.3M
Q1 25
$6.8M
$5.0M
Q4 24
$6.8M
$5.4M
Q3 24
$8.1M
$5.6M
Q2 24
$5.5M
$4.2M
Q1 24
$7.9M
$3.9M
Net Profit
BRLS
BRLS
DSS
DSS
Q4 25
$-17.4M
Q3 25
$-3.8M
$-2.2M
Q2 25
$-4.6M
$-2.6M
Q1 25
$-4.2M
$-5.3M
Q4 24
$-5.8M
$-32.9M
Q3 24
$-4.8M
$-5.3M
Q2 24
$-6.3M
$-4.7M
Q1 24
$-8.4M
$-4.1M
Gross Margin
BRLS
BRLS
DSS
DSS
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%
Operating Margin
BRLS
BRLS
DSS
DSS
Q4 25
-98.1%
Q3 25
-27.1%
-50.6%
Q2 25
-46.7%
-64.8%
Q1 25
-42.6%
-75.2%
Q4 24
-68.4%
-522.7%
Q3 24
-44.8%
-83.4%
Q2 24
-94.8%
-117.2%
Q1 24
-88.3%
-120.9%
Net Margin
BRLS
BRLS
DSS
DSS
Q4 25
-420.6%
Q3 25
-53.2%
-34.9%
Q2 25
-64.0%
-49.3%
Q1 25
-61.2%
-106.9%
Q4 24
-85.3%
-606.7%
Q3 24
-59.8%
-94.4%
Q2 24
-115.0%
-111.2%
Q1 24
-106.8%
-105.2%
EPS (diluted)
BRLS
BRLS
DSS
DSS
Q4 25
Q3 25
$-0.18
Q2 25
$0.21
Q1 25
$-0.20
Q4 24
$-0.82
$-4.64
Q3 24
$-0.23
$-0.75
Q2 24
$0.29
$-0.66
Q1 24
$-0.49
$-0.58

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
BRLS
BRLS
DSS
DSS
Cash + ST InvestmentsLiquidity on hand
$8.9M
Total DebtLower is stronger
$44.7M
Stockholders' EquityBook value
$-12.9M
$-832.0K
Total Assets
$56.3M
$67.6M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
BRLS
BRLS
DSS
DSS
Q4 25
$8.9M
Q3 25
$8.7M
Q2 25
$12.4M
Q1 25
$17.3M
Q4 24
$14.3M
Q3 24
$18.9M
Q2 24
$20.3M
Q1 24
$17.7M
Total Debt
BRLS
BRLS
DSS
DSS
Q4 25
$44.7M
Q3 25
$50.2M
Q2 25
$43.9M
Q1 25
$49.3M
Q4 24
$57.2M
Q3 24
Q2 24
Q1 24
Stockholders' Equity
BRLS
BRLS
DSS
DSS
Q4 25
$-832.0K
Q3 25
$-12.9M
$14.2M
Q2 25
$-9.2M
$15.7M
Q1 25
$-4.8M
$17.9M
Q4 24
$-695.9K
$19.9M
Q3 24
$5.1M
$52.1M
Q2 24
$9.9M
$55.2M
Q1 24
$16.2M
$59.9M
Total Assets
BRLS
BRLS
DSS
DSS
Q4 25
$67.6M
Q3 25
$56.3M
$92.1M
Q2 25
$57.3M
$93.4M
Q1 25
$58.4M
$92.4M
Q4 24
$60.0M
$106.5M
Q3 24
$61.9M
$142.7M
Q2 24
$63.6M
$144.4M
Q1 24
$70.3M
$148.5M
Debt / Equity
BRLS
BRLS
DSS
DSS
Q4 25
Q3 25
3.54×
Q2 25
2.80×
Q1 25
2.76×
Q4 24
2.87×
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
BRLS
BRLS
DSS
DSS
Operating Cash FlowLast quarter
$-190.6K
$-1.6M
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.

Operating Cash Flow
BRLS
BRLS
DSS
DSS
Q4 25
$-1.6M
Q3 25
$-190.6K
$-8.0M
Q2 25
$-2.2M
$2.1M
Q1 25
$-1.4M
$-1.6M
Q4 24
$-819.4K
$-2.9M
Q3 24
$-3.3M
$-315.0K
Q2 24
$-4.2M
$-3.4M
Q1 24
$-6.8M
$-2.1M
Free Cash Flow
BRLS
BRLS
DSS
DSS
Q4 25
Q3 25
$-8.1M
Q2 25
$2.0M
Q1 25
$-1.4M
$-1.7M
Q4 24
$-951.6K
$-3.0M
Q3 24
$-3.7M
Q2 24
$-4.7M
$-3.5M
Q1 24
$-7.3M
$-2.2M
FCF Margin
BRLS
BRLS
DSS
DSS
Q4 25
Q3 25
-126.5%
Q2 25
37.4%
Q1 25
-20.3%
-34.1%
Q4 24
-14.1%
-54.9%
Q3 24
-46.1%
Q2 24
-86.7%
-81.9%
Q1 24
-92.7%
-55.6%
Capex Intensity
BRLS
BRLS
DSS
DSS
Q4 25
Q3 25
1.3%
Q2 25
1.7%
Q1 25
0.2%
1.0%
Q4 24
2.0%
1.9%
Q3 24
5.6%
0.0%
Q2 24
9.4%
0.6%
Q1 24
7.0%
0.1%

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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