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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and Protalix BioTherapeutics, Inc. (PLX). Click either name above to swap in a different company.
Protalix BioTherapeutics, Inc. is the larger business by last-quarter revenue ($9.1M vs $7.1M, roughly 1.3× Borealis Foods Inc.). Borealis Foods Inc. runs the higher net margin — -53.2% vs -60.3%, a 7.1% gap on every dollar of revenue. On growth, Borealis Foods Inc. posted the faster year-over-year revenue change (-12.0% vs -49.9%). Over the past eight quarters, Borealis Foods Inc.'s revenue compounded faster (-2.4% CAGR vs -6.7%).
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.
Protalix BioTherapeutics is an Israeli pharmaceutical company that manufactures a plant-based enzyme, taliglucerase alfa, which has received U.S. Food and Drug Administration approval for the treatment of Gaucher disease.
BRLS vs PLX — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $9.1M |
| Net Profit | $-3.8M | $-5.5M |
| Gross Margin | 14.6% | 49.4% |
| Operating Margin | -27.1% | -51.1% |
| Net Margin | -53.2% | -60.3% |
| Revenue YoY | -12.0% | -49.9% |
| Net Profit YoY | 21.8% | -184.8% |
| EPS (diluted) | $-0.18 | $-0.06 |
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 | — | $9.1M | ||
| Q3 25 | $7.1M | $17.9M | ||
| Q2 25 | $7.2M | $15.7M | ||
| Q1 25 | $6.8M | $10.1M | ||
| Q4 24 | $6.8M | $18.2M | ||
| Q3 24 | $8.1M | $18.0M | ||
| Q2 24 | $5.5M | $13.5M | ||
| Q1 24 | $7.9M | — |
| Q4 25 | — | $-5.5M | ||
| Q3 25 | $-3.8M | $2.4M | ||
| Q2 25 | $-4.6M | $164.0K | ||
| Q1 25 | $-4.2M | $-3.6M | ||
| Q4 24 | $-5.8M | $6.5M | ||
| Q3 24 | $-4.8M | $3.2M | ||
| Q2 24 | $-6.3M | $-2.2M | ||
| Q1 24 | $-8.4M | — |
| Q4 25 | — | 49.4% | ||
| Q3 25 | 14.6% | 53.4% | ||
| Q2 25 | 7.2% | 62.5% | ||
| Q1 25 | 13.1% | 19.1% | ||
| Q4 24 | 3.7% | 78.7% | ||
| Q3 24 | 15.8% | 53.4% | ||
| Q2 24 | 7.7% | 29.8% | ||
| Q1 24 | 3.1% | — |
| Q4 25 | — | -51.1% | ||
| Q3 25 | -27.1% | 11.9% | ||
| Q2 25 | -46.7% | 7.5% | ||
| Q1 25 | -42.6% | -41.0% | ||
| Q4 24 | -68.4% | 39.6% | ||
| Q3 24 | -44.8% | 22.2% | ||
| Q2 24 | -94.8% | -18.0% | ||
| Q1 24 | -88.3% | — |
| Q4 25 | — | -60.3% | ||
| Q3 25 | -53.2% | 13.2% | ||
| Q2 25 | -64.0% | 1.0% | ||
| Q1 25 | -61.2% | -35.8% | ||
| Q4 24 | -85.3% | 35.6% | ||
| Q3 24 | -59.8% | 18.0% | ||
| Q2 24 | -115.0% | -16.4% | ||
| Q1 24 | -106.8% | — |
| Q4 25 | — | $-0.06 | ||
| Q3 25 | $-0.18 | $0.03 | ||
| Q2 25 | $0.21 | $0.00 | ||
| Q1 25 | $-0.20 | $-0.05 | ||
| Q4 24 | $-0.82 | $0.10 | ||
| Q3 24 | $-0.23 | $0.03 | ||
| Q2 24 | $0.29 | $-0.03 | ||
| 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 | — | $14.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $48.2M |
| Total Assets | $56.3M | $82.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $14.7M | ||
| Q3 25 | — | $13.6M | ||
| Q2 25 | — | $17.9M | ||
| Q1 25 | — | $19.5M | ||
| Q4 24 | — | $19.8M | ||
| Q3 24 | — | $27.4M | ||
| Q2 24 | — | $23.4M | ||
| Q1 24 | — | — |
| Q4 25 | — | $48.2M | ||
| Q3 25 | $-12.9M | $52.9M | ||
| Q2 25 | $-9.2M | $49.9M | ||
| Q1 25 | $-4.8M | $45.2M | ||
| Q4 24 | $-695.9K | $43.2M | ||
| Q3 24 | $5.1M | $32.4M | ||
| Q2 24 | $9.9M | $28.6M | ||
| Q1 24 | $16.2M | — |
| Q4 25 | — | $82.3M | ||
| Q3 25 | $56.3M | $82.3M | ||
| Q2 25 | $57.3M | $78.5M | ||
| Q1 25 | $58.4M | $73.9M | ||
| Q4 24 | $60.0M | $73.4M | ||
| Q3 24 | $61.9M | $61.6M | ||
| Q2 24 | $63.6M | $91.5M | ||
| 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 | $2.0M |
| Free Cash FlowOCF − Capex | — | $1.6M |
| FCF MarginFCF / Revenue | — | 17.8% |
| Capex IntensityCapex / Revenue | — | 4.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-13.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.0M | ||
| Q3 25 | $-190.6K | $-3.7M | ||
| Q2 25 | $-2.2M | $-5.2M | ||
| Q1 25 | $-1.4M | $-5.1M | ||
| Q4 24 | $-819.4K | $4.0M | ||
| Q3 24 | $-3.3M | $4.1M | ||
| Q2 24 | $-4.2M | $-3.6M | ||
| Q1 24 | $-6.8M | — |
| Q4 25 | — | $1.6M | ||
| Q3 25 | — | $-4.2M | ||
| Q2 25 | — | $-5.7M | ||
| Q1 25 | $-1.4M | $-5.4M | ||
| Q4 24 | $-951.6K | $3.6M | ||
| Q3 24 | $-3.7M | $4.0M | ||
| Q2 24 | $-4.7M | $-3.8M | ||
| Q1 24 | $-7.3M | — |
| Q4 25 | — | 17.8% | ||
| Q3 25 | — | -23.7% | ||
| Q2 25 | — | -36.2% | ||
| Q1 25 | -20.3% | -53.0% | ||
| Q4 24 | -14.1% | 19.6% | ||
| Q3 24 | -46.1% | 22.4% | ||
| Q2 24 | -86.7% | -28.1% | ||
| Q1 24 | -92.7% | — |
| Q4 25 | — | 4.4% | ||
| Q3 25 | — | 2.8% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | 0.2% | 3.0% | ||
| Q4 24 | 2.0% | 2.3% | ||
| Q3 24 | 5.6% | 0.5% | ||
| Q2 24 | 9.4% | 1.3% | ||
| Q1 24 | 7.0% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -1.58× | ||
| Q2 25 | — | -31.91× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.61× | ||
| Q3 24 | — | 1.27× | ||
| 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.
PLX
| Products | $8.7M | 95% |
| Other | $428.0K | 5% |
