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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and Solana Co (HSDT). Click either name above to swap in a different company.
Borealis Foods Inc. is the larger business by last-quarter revenue ($7.1M vs $5.2M, roughly 1.4× Solana Co). Solana Co runs the higher net margin — 6227.1% vs -53.2%, a 6280.3% gap on every dollar of revenue. On growth, Solana Co posted the faster year-over-year revenue change (2725.9% vs -12.0%). Over the past eight quarters, Solana Co's revenue compounded faster (522.3% 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.
Solana is a Mexican cottage manufacturer of sports, racing, and kids' automobiles based in Mexico City. The family run company has operated since 1936, with a total production of fewer than fifty cars; the majority of them one-offs. The family is heavily involved in motor sports; the most prominent member was Moisés Solana, who raced family-built cars and later in Formula One.
BRLS vs HSDT — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $5.2M |
| Net Profit | $-3.8M | $325.6M |
| Gross Margin | 14.6% | 96.6% |
| Operating Margin | -27.1% | -3845.8% |
| Net Margin | -53.2% | 6227.1% |
| Revenue YoY | -12.0% | 2725.9% |
| Net Profit YoY | 21.8% | 8388.0% |
| EPS (diluted) | $-0.18 | $111.28 |
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 | — | $5.2M | ||
| Q3 25 | $7.1M | $697.0K | ||
| Q2 25 | $7.2M | $43.0K | ||
| Q1 25 | $6.8M | $49.0K | ||
| Q4 24 | $6.8M | $185.0K | ||
| Q3 24 | $8.1M | $51.0K | ||
| Q2 24 | $5.5M | $182.0K | ||
| Q1 24 | $7.9M | $135.0K |
| Q4 25 | — | $325.6M | ||
| Q3 25 | $-3.8M | $-352.8M | ||
| Q2 25 | $-4.6M | $-9.8M | ||
| Q1 25 | $-4.2M | $-3.8M | ||
| Q4 24 | $-5.8M | — | ||
| Q3 24 | $-4.8M | $-3.7M | ||
| Q2 24 | $-6.3M | $-1.6M | ||
| Q1 24 | $-8.4M | $-2.5M |
| Q4 25 | — | 96.6% | ||
| Q3 25 | 14.6% | 85.2% | ||
| Q2 25 | 7.2% | — | ||
| Q1 25 | 13.1% | — | ||
| Q4 24 | 3.7% | 16.8% | ||
| Q3 24 | 15.8% | — | ||
| Q2 24 | 7.7% | 35.2% | ||
| Q1 24 | 3.1% | 8.9% |
| Q4 25 | — | -3845.8% | ||
| Q3 25 | -27.1% | -5086.1% | ||
| Q2 25 | -46.7% | -7725.6% | ||
| Q1 25 | -42.6% | -8185.7% | ||
| Q4 24 | -68.4% | — | ||
| Q3 24 | -44.8% | -7980.4% | ||
| Q2 24 | -94.8% | -1796.7% | ||
| Q1 24 | -88.3% | -2530.4% |
| Q4 25 | — | 6227.1% | ||
| Q3 25 | -53.2% | -50612.3% | ||
| Q2 25 | -64.0% | -22867.4% | ||
| Q1 25 | -61.2% | -7832.7% | ||
| Q4 24 | -85.3% | — | ||
| Q3 24 | -59.8% | -7227.5% | ||
| Q2 24 | -115.0% | -885.7% | ||
| Q1 24 | -106.8% | -1863.7% |
| Q4 25 | — | $111.28 | ||
| Q3 25 | $-0.18 | $-32.89 | ||
| Q2 25 | $0.21 | $-79.73 | ||
| Q1 25 | $-0.20 | $-0.51 | ||
| Q4 24 | $-0.82 | — | ||
| Q3 24 | $-0.23 | $-744.35 | ||
| Q2 24 | $0.29 | $-485.30 | ||
| Q1 24 | $-0.49 | $-3.08 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $7.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $300.9M |
| Total Assets | $56.3M | $303.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $7.3M | ||
| Q3 25 | — | $124.1M | ||
| Q2 25 | — | $6.1M | ||
| Q1 25 | — | $1.1M | ||
| Q4 24 | — | $1.1M | ||
| Q3 24 | — | $3.5M | ||
| Q2 24 | — | $6.4M | ||
| Q1 24 | — | $3.6M |
| Q4 25 | — | $300.9M | ||
| Q3 25 | $-12.9M | $-152.4M | ||
| Q2 25 | $-9.2M | $6.0M | ||
| Q1 25 | $-4.8M | $1.3M | ||
| Q4 24 | $-695.9K | $1.1M | ||
| Q3 24 | $5.1M | $3.8M | ||
| Q2 24 | $9.9M | $6.3M | ||
| Q1 24 | $16.2M | $2.0M |
| Q4 25 | — | $303.9M | ||
| Q3 25 | $56.3M | $475.9M | ||
| Q2 25 | $57.3M | $7.9M | ||
| Q1 25 | $58.4M | $3.5M | ||
| Q4 24 | $60.0M | $3.5M | ||
| Q3 24 | $61.9M | $5.6M | ||
| Q2 24 | $63.6M | $8.8M | ||
| Q1 24 | $70.3M | $5.8M |
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 | $-16.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | -0.05× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-16.5M | ||
| Q3 25 | $-190.6K | $-4.0M | ||
| Q2 25 | $-2.2M | $-2.8M | ||
| Q1 25 | $-1.4M | $-3.5M | ||
| Q4 24 | $-819.4K | $-11.0M | ||
| Q3 24 | $-3.3M | $-2.8M | ||
| Q2 24 | $-4.2M | $-2.9M | ||
| Q1 24 | $-6.8M | $-3.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-1.4M | — | ||
| Q4 24 | $-951.6K | $-11.0M | ||
| Q3 24 | $-3.7M | — | ||
| Q2 24 | $-4.7M | — | ||
| Q1 24 | $-7.3M | $-3.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -20.3% | — | ||
| Q4 24 | -14.1% | -5970.8% | ||
| Q3 24 | -46.1% | — | ||
| Q2 24 | -86.7% | — | ||
| Q1 24 | -92.7% | -2226.7% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 2.0% | 2.7% | ||
| Q3 24 | 5.6% | 0.0% | ||
| Q2 24 | 9.4% | 0.0% | ||
| Q1 24 | 7.0% | 3.7% |
| Q4 25 | — | -0.05× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
