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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and Foghorn Therapeutics Inc. (FHTX). Click either name above to swap in a different company.
Foghorn Therapeutics Inc. is the larger business by last-quarter revenue ($9.2M vs $7.1M, roughly 1.3× Borealis Foods Inc.). Borealis Foods Inc. runs the higher net margin — -53.2% vs -234.3%, a 181.1% gap on every dollar of revenue. On growth, Foghorn Therapeutics Inc. posted the faster year-over-year revenue change (223.8% vs -12.0%). Over the past eight quarters, Foghorn Therapeutics Inc.'s revenue compounded faster (35.3% 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.
Foghorn Therapeutics Inc. is a clinical-stage biotechnology company dedicated to developing novel therapies targeting the chromatin regulatory system to treat various types of cancer and other severe diseases. It advances a diverse pipeline of targeted drug candidates, conducting internal R&D and strategic partnerships to serve global patient populations.
BRLS vs FHTX — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $9.2M |
| Net Profit | $-3.8M | $-21.7M |
| Gross Margin | 14.6% | — |
| Operating Margin | -27.1% | -258.2% |
| Net Margin | -53.2% | -234.3% |
| Revenue YoY | -12.0% | 223.8% |
| Net Profit YoY | 21.8% | -11.1% |
| EPS (diluted) | $-0.18 | $-0.35 |
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 | — | $9.2M | ||
| Q3 25 | $7.1M | $8.2M | ||
| Q2 25 | $7.2M | $7.6M | ||
| Q1 25 | $6.8M | $6.0M | ||
| Q4 24 | $6.8M | $2.9M | ||
| Q3 24 | $8.1M | $7.8M | ||
| Q2 24 | $5.5M | $6.9M | ||
| Q1 24 | $7.9M | $5.0M |
| Q4 25 | — | $-21.7M | ||
| Q3 25 | $-3.8M | $-15.8M | ||
| Q2 25 | $-4.6M | $-17.9M | ||
| Q1 25 | $-4.2M | $-18.8M | ||
| Q4 24 | $-5.8M | $-19.5M | ||
| Q3 24 | $-4.8M | $-19.1M | ||
| Q2 24 | $-6.3M | $-23.0M | ||
| Q1 24 | $-8.4M | $-25.0M |
| 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 | — | -258.2% | ||
| Q3 25 | -27.1% | -226.9% | ||
| Q2 25 | -46.7% | -279.2% | ||
| Q1 25 | -42.6% | -385.0% | ||
| Q4 24 | -68.4% | -840.5% | ||
| Q3 24 | -44.8% | -305.5% | ||
| Q2 24 | -94.8% | -386.6% | ||
| Q1 24 | -88.3% | -558.3% |
| Q4 25 | — | -234.3% | ||
| Q3 25 | -53.2% | -194.4% | ||
| Q2 25 | -64.0% | -237.3% | ||
| Q1 25 | -61.2% | -316.4% | ||
| Q4 24 | -85.3% | -682.9% | ||
| Q3 24 | -59.8% | -244.9% | ||
| Q2 24 | -115.0% | -333.6% | ||
| Q1 24 | -106.8% | -495.4% |
| Q4 25 | — | $-0.35 | ||
| Q3 25 | $-0.18 | $-0.25 | ||
| Q2 25 | $0.21 | $-0.28 | ||
| Q1 25 | $-0.20 | $-0.30 | ||
| Q4 24 | $-0.82 | $-0.23 | ||
| Q3 24 | $-0.23 | $-0.31 | ||
| Q2 24 | $0.29 | $-0.45 | ||
| Q1 24 | $-0.49 | $-0.59 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $80.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $-108.5M |
| Total Assets | $56.3M | $198.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $80.9M | ||
| Q3 25 | — | $89.3M | ||
| Q2 25 | — | $72.6M | ||
| Q1 25 | — | $61.0M | ||
| Q4 24 | — | $55.5M | ||
| Q3 24 | — | $57.7M | ||
| Q2 24 | — | $138.9M | ||
| Q1 24 | — | $79.3M |
| Q4 25 | — | $-108.5M | ||
| Q3 25 | $-12.9M | $-89.7M | ||
| Q2 25 | $-9.2M | $-76.7M | ||
| Q1 25 | $-4.8M | $-61.7M | ||
| Q4 24 | $-695.9K | $-45.5M | ||
| Q3 24 | $5.1M | $-28.3M | ||
| Q2 24 | $9.9M | $-14.3M | ||
| Q1 24 | $16.2M | $-97.5M |
| Q4 25 | — | $198.1M | ||
| Q3 25 | $56.3M | $205.0M | ||
| Q2 25 | $57.3M | $226.2M | ||
| Q1 25 | $58.4M | $258.7M | ||
| Q4 24 | $60.0M | $284.0M | ||
| Q3 24 | $61.9M | $308.4M | ||
| Q2 24 | $63.6M | $328.6M | ||
| Q1 24 | $70.3M | $255.0M |
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 | $-22.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-22.3M | ||
| Q3 25 | $-190.6K | $-18.9M | ||
| Q2 25 | $-2.2M | $-21.0M | ||
| Q1 25 | $-1.4M | $-24.0M | ||
| Q4 24 | $-819.4K | $-24.5M | ||
| Q3 24 | $-3.3M | $-21.0M | ||
| Q2 24 | $-4.2M | $-25.5M | ||
| Q1 24 | $-6.8M | $-29.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-21.0M | ||
| Q1 25 | $-1.4M | $-24.0M | ||
| Q4 24 | $-951.6K | $-25.0M | ||
| Q3 24 | $-3.7M | $-21.3M | ||
| Q2 24 | $-4.7M | $-25.6M | ||
| Q1 24 | $-7.3M | $-29.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -278.2% | ||
| Q1 25 | -20.3% | -403.2% | ||
| Q4 24 | -14.1% | -875.3% | ||
| Q3 24 | -46.1% | -273.0% | ||
| Q2 24 | -86.7% | -371.0% | ||
| Q1 24 | -92.7% | -583.1% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.3% | ||
| Q1 25 | 0.2% | 0.5% | ||
| Q4 24 | 2.0% | 16.8% | ||
| Q3 24 | 5.6% | 4.0% | ||
| Q2 24 | 9.4% | 0.2% | ||
| Q1 24 | 7.0% | 2.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
