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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and INTELLIGENT PROTECTION MANAGEMENT CORP. (IPM). Click either name above to swap in a different company.
Borealis Foods Inc. is the larger business by last-quarter revenue ($7.1M vs $6.1M, roughly 1.2× INTELLIGENT PROTECTION MANAGEMENT CORP.). On growth, INTELLIGENT PROTECTION MANAGEMENT CORP. posted the faster year-over-year revenue change (2091.6% vs -12.0%). Over the past eight quarters, INTELLIGENT PROTECTION MANAGEMENT CORP.'s revenue compounded faster (54.7% 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.
Intelligent Limited is a Holding Company and Parent company headquartered in Gloucestershire, United Kingdom and was incorporated on 21 May 2008. Intelligent Limited provides a group management structure for four companies and was born out of the operations of International Intelligence Limited, a company specialising in Intelligence, Counter Espionage and TSCM sweeping.
BRLS vs IPM — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $6.1M |
| Net Profit | $-3.8M | — |
| Gross Margin | 14.6% | 53.1% |
| Operating Margin | -27.1% | -13.4% |
| Net Margin | -53.2% | — |
| Revenue YoY | -12.0% | 2091.6% |
| Net Profit YoY | 21.8% | — |
| EPS (diluted) | $-0.18 | $-0.05 |
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 | — | $6.1M | ||
| Q3 25 | $7.1M | $6.2M | ||
| Q2 25 | $7.2M | $5.7M | ||
| Q1 25 | $6.8M | $5.5M | ||
| Q4 24 | $6.8M | — | ||
| Q3 24 | $8.1M | — | ||
| Q2 24 | $5.5M | — | ||
| Q1 24 | $7.9M | — |
| Q4 25 | — | — | ||
| Q3 25 | $-3.8M | $-1.1M | ||
| Q2 25 | $-4.6M | $-1.1M | ||
| Q1 25 | $-4.2M | $808.5K | ||
| Q4 24 | $-5.8M | — | ||
| Q3 24 | $-4.8M | — | ||
| Q2 24 | $-6.3M | — | ||
| Q1 24 | $-8.4M | — |
| Q4 25 | — | 53.1% | ||
| Q3 25 | 14.6% | 50.7% | ||
| Q2 25 | 7.2% | 50.1% | ||
| Q1 25 | 13.1% | 55.3% | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 15.8% | — | ||
| Q2 24 | 7.7% | — | ||
| Q1 24 | 3.1% | — |
| Q4 25 | — | -13.4% | ||
| Q3 25 | -27.1% | -23.0% | ||
| Q2 25 | -46.7% | -19.7% | ||
| Q1 25 | -42.6% | -24.2% | ||
| Q4 24 | -68.4% | — | ||
| Q3 24 | -44.8% | — | ||
| Q2 24 | -94.8% | — | ||
| Q1 24 | -88.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | -53.2% | -17.4% | ||
| Q2 25 | -64.0% | -18.3% | ||
| Q1 25 | -61.2% | 14.7% | ||
| Q4 24 | -85.3% | — | ||
| Q3 24 | -59.8% | — | ||
| Q2 24 | -115.0% | — | ||
| Q1 24 | -106.8% | — |
| Q4 25 | — | $-0.05 | ||
| Q3 25 | $-0.18 | $-0.08 | ||
| Q2 25 | $0.21 | $-0.08 | ||
| Q1 25 | $-0.20 | $0.06 | ||
| Q4 24 | $-0.82 | — | ||
| Q3 24 | $-0.23 | — | ||
| Q2 24 | $0.29 | — | ||
| Q1 24 | $-0.49 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $5.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $18.2M |
| Total Assets | $56.3M | $26.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $5.6M | ||
| Q3 25 | — | $7.3M | ||
| Q2 25 | — | $7.3M | ||
| Q1 25 | — | $9.7M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $18.2M | ||
| Q3 25 | $-12.9M | $18.8M | ||
| Q2 25 | $-9.2M | $19.9M | ||
| Q1 25 | $-4.8M | $21.1M | ||
| Q4 24 | $-695.9K | — | ||
| Q3 24 | $5.1M | — | ||
| Q2 24 | $9.9M | — | ||
| Q1 24 | $16.2M | — |
| Q4 25 | — | $26.0M | ||
| Q3 25 | $56.3M | $27.2M | ||
| Q2 25 | $57.3M | $29.8M | ||
| Q1 25 | $58.4M | $31.1M | ||
| Q4 24 | $60.0M | — | ||
| Q3 24 | $61.9M | — | ||
| Q2 24 | $63.6M | — | ||
| Q1 24 | $70.3M | — |
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 | $87.6K |
| 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 | — | $87.6K | ||
| Q3 25 | $-190.6K | $133.0K | ||
| Q2 25 | $-2.2M | $-888.7K | ||
| Q1 25 | $-1.4M | $1.7M | ||
| Q4 24 | $-819.4K | — | ||
| Q3 24 | $-3.3M | — | ||
| Q2 24 | $-4.2M | — | ||
| Q1 24 | $-6.8M | — |
| 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 | — | 0.0% | ||
| 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 | — | 2.16× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BRLS
Segment breakdown not available.
IPM
| Procurement Revenue | $5.4M | 88% |
| Other | $743.9K | 12% |
