vs
Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and Laird Superfood, Inc. (LSF). Click either name above to swap in a different company.
Laird Superfood, Inc. is the larger business by last-quarter revenue ($13.3M vs $7.1M, roughly 1.9× Borealis Foods Inc.). Laird Superfood, Inc. runs the higher net margin — -13.2% vs -53.2%, a 40.0% gap on every dollar of revenue. On growth, Laird Superfood, Inc. posted the faster year-over-year revenue change (15.0% vs -12.0%). Over the past eight quarters, Laird Superfood, Inc.'s revenue compounded faster (16.1% 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.
Laird Superfood, Inc. develops, manufactures and sells a portfolio of plant-based functional superfood products, including premium coffee creamers, hydration blends, nutritional supplements, and plant-powered snacks. It serves health-conscious consumers through direct-to-consumer e-commerce platforms and offline retail partners, mainly operating in the North American market with a focus on sustainably sourced clean ingredients.
BRLS vs LSF — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $13.3M |
| Net Profit | $-3.8M | $-1.8M |
| Gross Margin | 14.6% | 34.1% |
| Operating Margin | -27.1% | -13.5% |
| Net Margin | -53.2% | -13.2% |
| Revenue YoY | -12.0% | 15.0% |
| Net Profit YoY | 21.8% | -341.4% |
| 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.
| Q4 25 | — | $13.3M | ||
| Q3 25 | $7.1M | $12.9M | ||
| Q2 25 | $7.2M | $12.0M | ||
| Q1 25 | $6.8M | $11.7M | ||
| Q4 24 | $6.8M | $11.6M | ||
| Q3 24 | $8.1M | $11.8M | ||
| Q2 24 | $5.5M | $10.0M | ||
| Q1 24 | $7.9M | $9.9M |
| Q4 25 | — | $-1.8M | ||
| Q3 25 | $-3.8M | $-975.1K | ||
| Q2 25 | $-4.6M | $-362.2K | ||
| Q1 25 | $-4.2M | $-156.2K | ||
| Q4 24 | $-5.8M | $-398.4K | ||
| Q3 24 | $-4.8M | $-166.1K | ||
| Q2 24 | $-6.3M | $-239.1K | ||
| Q1 24 | $-8.4M | $-1.0M |
| Q4 25 | — | 34.1% | ||
| Q3 25 | 14.6% | 36.5% | ||
| Q2 25 | 7.2% | 39.9% | ||
| Q1 25 | 13.1% | 41.9% | ||
| Q4 24 | 3.7% | 38.6% | ||
| Q3 24 | 15.8% | 43.0% | ||
| Q2 24 | 7.7% | 41.8% | ||
| Q1 24 | 3.1% | 40.0% |
| Q4 25 | — | -13.5% | ||
| Q3 25 | -27.1% | -7.7% | ||
| Q2 25 | -46.7% | -3.3% | ||
| Q1 25 | -42.6% | -1.9% | ||
| Q4 24 | -68.4% | -4.1% | ||
| Q3 24 | -44.8% | -2.3% | ||
| Q2 24 | -94.8% | -3.4% | ||
| Q1 24 | -88.3% | -11.0% |
| Q4 25 | — | -13.2% | ||
| Q3 25 | -53.2% | -7.6% | ||
| Q2 25 | -64.0% | -3.0% | ||
| Q1 25 | -61.2% | -1.3% | ||
| Q4 24 | -85.3% | -3.4% | ||
| Q3 24 | -59.8% | -1.4% | ||
| Q2 24 | -115.0% | -2.4% | ||
| Q1 24 | -106.8% | -10.3% |
| Q4 25 | — | — | ||
| Q3 25 | $-0.18 | — | ||
| Q2 25 | $0.21 | — | ||
| Q1 25 | $-0.20 | — | ||
| 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 | — | $5.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $11.5M |
| Total Assets | $56.3M | $19.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $5.1M | ||
| Q3 25 | — | $5.1M | ||
| Q2 25 | — | $3.9M | ||
| Q1 25 | — | $7.0M | ||
| Q4 24 | — | $8.3M | ||
| Q3 24 | — | $7.9M | ||
| Q2 24 | — | $7.6M | ||
| Q1 24 | — | $7.1M |
| Q4 25 | — | $11.5M | ||
| Q3 25 | $-12.9M | $12.8M | ||
| Q2 25 | $-9.2M | $13.4M | ||
| Q1 25 | $-4.8M | $13.3M | ||
| Q4 24 | $-695.9K | $13.2M | ||
| Q3 24 | $5.1M | $13.1M | ||
| Q2 24 | $9.9M | $12.6M | ||
| Q1 24 | $16.2M | $12.7M |
| Q4 25 | — | $19.2M | ||
| Q3 25 | $56.3M | $18.9M | ||
| Q2 25 | $57.3M | $20.4M | ||
| Q1 25 | $58.4M | $21.5M | ||
| Q4 24 | $60.0M | $19.3M | ||
| Q3 24 | $61.9M | $18.8M | ||
| Q2 24 | $63.6M | $18.0M | ||
| Q1 24 | $70.3M | $17.6M |
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 | $68.4K |
| 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 | — | $68.4K | ||
| Q3 25 | $-190.6K | $1.2M | ||
| Q2 25 | $-2.2M | $-2.8M | ||
| Q1 25 | $-1.4M | $-1.3M | ||
| Q4 24 | $-819.4K | $339.2K | ||
| Q3 24 | $-3.3M | $305.8K | ||
| Q2 24 | $-4.2M | $642.7K | ||
| Q1 24 | $-6.8M | $-422.3K |
| 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 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 5.6% | — | ||
| Q2 24 | 9.4% | — | ||
| Q1 24 | 7.0% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BRLS
Segment breakdown not available.
LSF
| Wholesale | $7.0M | 52% |
| Coffee Tea And Hot Chocolate Products | $4.4M | 33% |
| Hydration And Beverage Enhancing Supplements | $1.6M | 12% |
| Other | $352.6K | 3% |
