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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and Falcon's Beyond Global, Inc. (FBYD). Click either name above to swap in a different company.
Borealis Foods Inc. is the larger business by last-quarter revenue ($7.1M vs $6.6M, roughly 1.1× Falcon's Beyond Global, Inc.). Falcon's Beyond Global, Inc. runs the higher net margin — -4.5% vs -53.2%, a 48.7% gap on every dollar of revenue. On growth, Falcon's Beyond Global, Inc. posted the faster year-over-year revenue change (383.5% vs -12.0%). Over the past eight quarters, Falcon's Beyond Global, Inc.'s revenue compounded faster (108.4% 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.
500 Global is an early-stage venture fund and seed accelerator founded in 2010 by Dave McClure and Christine Tsai. The fund admitted a first "class" of twelve startups to its incubator office in Mountain View, California in February 2011. They expanded to a second class of 21 in June 2011 and a third class of 34 in October 2011. 500 Global has $2.3 billion in assets under management (AUM) as of March 2024.
BRLS vs FBYD — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $6.6M |
| Net Profit | $-3.8M | $-296.0K |
| Gross Margin | 14.6% | — |
| Operating Margin | -27.1% | -30.9% |
| Net Margin | -53.2% | -4.5% |
| Revenue YoY | -12.0% | 383.5% |
| Net Profit YoY | 21.8% | 97.5% |
| 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 | — | $6.6M | ||
| Q3 25 | $7.1M | $4.1M | ||
| Q2 25 | $7.2M | $2.5M | ||
| Q1 25 | $6.8M | $1.7M | ||
| Q4 24 | $6.8M | $1.4M | ||
| Q3 24 | $8.1M | $2.1M | ||
| Q2 24 | $5.5M | $1.8M | ||
| Q1 24 | $7.9M | $1.5M |
| Q4 25 | — | $-296.0K | ||
| Q3 25 | $-3.8M | $-10.4M | ||
| Q2 25 | $-4.6M | $25.1M | ||
| Q1 25 | $-4.2M | $-8.1M | ||
| Q4 24 | $-5.8M | $-11.9M | ||
| Q3 24 | $-4.8M | $39.3M | ||
| Q2 24 | $-6.3M | $8.0M | ||
| Q1 24 | $-8.4M | $114.0M |
| 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 | — | -30.9% | ||
| Q3 25 | -27.1% | -90.9% | ||
| Q2 25 | -46.7% | -53.0% | ||
| Q1 25 | -42.6% | -371.1% | ||
| Q4 24 | -68.4% | -335.6% | ||
| Q3 24 | -44.8% | -118.9% | ||
| Q2 24 | -94.8% | -195.9% | ||
| Q1 24 | -88.3% | -350.5% |
| Q4 25 | — | -4.5% | ||
| Q3 25 | -53.2% | -256.8% | ||
| Q2 25 | -64.0% | 985.2% | ||
| Q1 25 | -61.2% | -473.8% | ||
| Q4 24 | -85.3% | -871.7% | ||
| Q3 24 | -59.8% | 1899.5% | ||
| Q2 24 | -115.0% | 446.5% | ||
| Q1 24 | -106.8% | 7521.4% |
| Q4 25 | — | $-0.01 | ||
| Q3 25 | $-0.18 | $-0.13 | ||
| Q2 25 | $0.21 | $0.30 | ||
| Q1 25 | $-0.20 | $-0.13 | ||
| Q4 24 | $-0.82 | $-0.25 | ||
| Q3 24 | $-0.23 | $0.39 | ||
| Q2 24 | $0.29 | $0.00 | ||
| Q1 24 | $-0.49 | $1.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.9M |
| Total DebtLower is stronger | — | $15.6M |
| Stockholders' EquityBook value | $-12.9M | $11.9M |
| Total Assets | $56.3M | $66.7M |
| Debt / EquityLower = less leverage | — | 1.31× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.9M | ||
| Q3 25 | — | $4.3M | ||
| Q2 25 | — | $26.1M | ||
| Q1 25 | — | $1.1M | ||
| Q4 24 | — | $825.0K | ||
| Q3 24 | — | $828.0K | ||
| Q2 24 | — | $1.7M | ||
| Q1 24 | — | $1.1M |
| Q4 25 | — | $15.6M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $41.2M | ||
| Q3 24 | — | $10.3M | ||
| Q2 24 | — | $15.7M | ||
| Q1 24 | — | $15.1M |
| Q4 25 | — | $11.9M | ||
| Q3 25 | $-12.9M | $9.2M | ||
| Q2 25 | $-9.2M | $414.0K | ||
| Q1 25 | $-4.8M | $-11.6M | ||
| Q4 24 | $-695.9K | $-9.0M | ||
| Q3 24 | $5.1M | $-1.4M | ||
| Q2 24 | $9.9M | $-44.7M | ||
| Q1 24 | $16.2M | $-61.7M |
| Q4 25 | — | $66.7M | ||
| Q3 25 | $56.3M | $66.8M | ||
| Q2 25 | $57.3M | $89.2M | ||
| Q1 25 | $58.4M | $56.7M | ||
| Q4 24 | $60.0M | $61.2M | ||
| Q3 24 | $61.9M | $66.5M | ||
| Q2 24 | $63.6M | $65.9M | ||
| Q1 24 | $70.3M | $67.8M |
| Q4 25 | — | 1.31× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-190.6K | $-4.3M |
| Free Cash FlowOCF − Capex | — | $-4.3M |
| FCF MarginFCF / Revenue | — | -66.0% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-4.3M | ||
| Q3 25 | $-190.6K | $-13.3M | ||
| Q2 25 | $-2.2M | $-7.9M | ||
| Q1 25 | $-1.4M | $945.0K | ||
| Q4 24 | $-819.4K | $-3.8M | ||
| Q3 24 | $-3.3M | $-2.4M | ||
| Q2 24 | $-4.2M | $-2.6M | ||
| Q1 24 | $-6.8M | $-3.8M |
| Q4 25 | — | $-4.3M | ||
| Q3 25 | — | $-13.4M | ||
| Q2 25 | — | — | ||
| Q1 25 | $-1.4M | $853.0K | ||
| Q4 24 | $-951.6K | $-3.8M | ||
| Q3 24 | $-3.7M | $-2.4M | ||
| Q2 24 | $-4.7M | $-2.6M | ||
| Q1 24 | $-7.3M | $-3.8M |
| Q4 25 | — | -66.0% | ||
| Q3 25 | — | -329.6% | ||
| Q2 25 | — | — | ||
| Q1 25 | -20.3% | 49.9% | ||
| Q4 24 | -14.1% | -278.7% | ||
| Q3 24 | -46.1% | -114.9% | ||
| Q2 24 | -86.7% | -145.6% | ||
| Q1 24 | -92.7% | -248.8% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 1.0% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | 0.2% | 5.4% | ||
| Q4 24 | 2.0% | 0.1% | ||
| Q3 24 | 5.6% | 0.2% | ||
| Q2 24 | 9.4% | 0.1% | ||
| Q1 24 | 7.0% | 0.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.31× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.06× | ||
| Q2 24 | — | -0.33× | ||
| Q1 24 | — | -0.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
