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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and NexPoint Real Estate Finance, Inc. (NREF). Click either name above to swap in a different company.
NexPoint Real Estate Finance, Inc. is the larger business by last-quarter revenue ($11.1M vs $7.1M, roughly 1.6× Borealis Foods Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs -53.2%, a 269.9% gap on every dollar of revenue. On growth, Borealis Foods Inc. posted the faster year-over-year revenue change (-12.0% vs -48.8%).
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.
NexPoint Real Estate Finance, Inc. is a US-based commercial real estate finance firm that offers structured financing solutions for multifamily, office, industrial, and hospitality properties. It focuses on originating, managing and servicing a diversified portfolio of mortgage loans and real estate-related investments to deliver stable risk-adjusted returns to stakeholders.
BRLS vs NREF — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $11.1M |
| Net Profit | $-3.8M | $24.0M |
| Gross Margin | 14.6% | — |
| Operating Margin | -27.1% | — |
| Net Margin | -53.2% | 216.6% |
| Revenue YoY | -12.0% | -48.8% |
| Net Profit YoY | 21.8% | 58.7% |
| EPS (diluted) | $-0.18 | $0.47 |
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 | — | $11.1M | ||
| Q3 25 | $7.1M | $12.5M | ||
| Q2 25 | $7.2M | $12.1M | ||
| Q1 25 | $6.8M | $11.5M | ||
| Q4 24 | $6.8M | $21.7M | ||
| Q3 24 | $8.1M | $12.5M | ||
| Q2 24 | $5.5M | $6.7M | ||
| Q1 24 | $7.9M | $-12.8M |
| Q4 25 | — | $24.0M | ||
| Q3 25 | $-3.8M | $50.9M | ||
| Q2 25 | $-4.6M | $22.3M | ||
| Q1 25 | $-4.2M | $26.0M | ||
| Q4 24 | $-5.8M | $15.2M | ||
| Q3 24 | $-4.8M | $23.3M | ||
| Q2 24 | $-6.3M | $12.1M | ||
| Q1 24 | $-8.4M | $-14.6M |
| 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 | — | — | ||
| Q3 25 | -27.1% | — | ||
| Q2 25 | -46.7% | — | ||
| Q1 25 | -42.6% | — | ||
| Q4 24 | -68.4% | — | ||
| Q3 24 | -44.8% | — | ||
| Q2 24 | -94.8% | — | ||
| Q1 24 | -88.3% | — |
| Q4 25 | — | 216.6% | ||
| Q3 25 | -53.2% | 407.0% | ||
| Q2 25 | -64.0% | 184.5% | ||
| Q1 25 | -61.2% | 225.6% | ||
| Q4 24 | -85.3% | 69.9% | ||
| Q3 24 | -59.8% | 186.4% | ||
| Q2 24 | -115.0% | 179.7% | ||
| Q1 24 | -106.8% | 114.3% |
| Q4 25 | — | $0.47 | ||
| Q3 25 | $-0.18 | $1.14 | ||
| Q2 25 | $0.21 | $0.54 | ||
| Q1 25 | $-0.20 | $0.70 | ||
| Q4 24 | $-0.82 | $0.71 | ||
| Q3 24 | $-0.23 | $0.74 | ||
| Q2 24 | $0.29 | $0.40 | ||
| Q1 24 | $-0.49 | $-0.83 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $31.1M |
| Total DebtLower is stronger | — | $771.2M |
| Stockholders' EquityBook value | $-12.9M | $388.0M |
| Total Assets | $56.3M | $5.3B |
| Debt / EquityLower = less leverage | — | 1.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $31.1M | ||
| Q3 25 | — | $17.9M | ||
| Q2 25 | — | $9.1M | ||
| Q1 25 | — | $19.2M | ||
| Q4 24 | — | $3.9M | ||
| Q3 24 | — | $34.7M | ||
| Q2 24 | — | $4.3M | ||
| Q1 24 | — | $13.5M |
| Q4 25 | — | $771.2M | ||
| Q3 25 | — | $720.9M | ||
| Q2 25 | — | $815.6M | ||
| Q1 25 | — | $831.5M | ||
| Q4 24 | — | $799.3M | ||
| Q3 24 | — | $815.5M | ||
| Q2 24 | — | $861.0M | ||
| Q1 24 | — | $843.3M |
| Q4 25 | — | $388.0M | ||
| Q3 25 | $-12.9M | $375.4M | ||
| Q2 25 | $-9.2M | $348.2M | ||
| Q1 25 | $-4.8M | $343.7M | ||
| Q4 24 | $-695.9K | $336.5M | ||
| Q3 24 | $5.1M | $335.8M | ||
| Q2 24 | $9.9M | $327.5M | ||
| Q1 24 | $16.2M | $327.1M |
| Q4 25 | — | $5.3B | ||
| Q3 25 | $56.3M | $5.3B | ||
| Q2 25 | $57.3M | $5.4B | ||
| Q1 25 | $58.4M | $5.4B | ||
| Q4 24 | $60.0M | $5.4B | ||
| Q3 24 | $61.9M | $5.7B | ||
| Q2 24 | $63.6M | $6.6B | ||
| Q1 24 | $70.3M | $7.1B |
| Q4 25 | — | 1.99× | ||
| Q3 25 | — | 1.92× | ||
| Q2 25 | — | 2.34× | ||
| Q1 25 | — | 2.42× | ||
| Q4 24 | — | 2.38× | ||
| Q3 24 | — | 2.43× | ||
| Q2 24 | — | 2.63× | ||
| Q1 24 | — | 2.58× |
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 | $-4.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | -0.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-4.5M | ||
| Q3 25 | $-190.6K | $8.1M | ||
| Q2 25 | $-2.2M | $3.3M | ||
| Q1 25 | $-1.4M | $16.0M | ||
| Q4 24 | $-819.4K | $4.4M | ||
| Q3 24 | $-3.3M | $14.7M | ||
| Q2 24 | $-4.2M | $-7.5M | ||
| Q1 24 | $-6.8M | $17.7M |
| 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% | — |
| Q4 25 | — | -0.19× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.62× | ||
| Q4 24 | — | 0.29× | ||
| Q3 24 | — | 0.63× | ||
| Q2 24 | — | -0.62× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
