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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and Seer, Inc. (SEER). Click either name above to swap in a different company.
Borealis Foods Inc. is the larger business by last-quarter revenue ($7.1M vs $4.2M, roughly 1.7× Seer, Inc.). Borealis Foods Inc. runs the higher net margin — -53.2% vs -380.7%, a 327.5% gap on every dollar of revenue. On growth, Seer, Inc. posted the faster year-over-year revenue change (5.0% vs -12.0%). Over the past eight quarters, Seer, Inc.'s revenue compounded faster (17.1% 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.
Seer, Inc. is an American biotechnology company headquartered in Redwood City, California. Established in 2017, the company develops technologies for proteomics research.
BRLS vs SEER — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $4.2M |
| Net Profit | $-3.8M | $-16.0M |
| Gross Margin | 14.6% | 52.0% |
| Operating Margin | -27.1% | -413.8% |
| Net Margin | -53.2% | -380.7% |
| Revenue YoY | -12.0% | 5.0% |
| Net Profit YoY | 21.8% | 26.4% |
| 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 | — | $4.2M | ||
| Q3 25 | $7.1M | $4.1M | ||
| Q2 25 | $7.2M | $4.1M | ||
| Q1 25 | $6.8M | $4.2M | ||
| Q4 24 | $6.8M | $4.0M | ||
| Q3 24 | $8.1M | $4.0M | ||
| Q2 24 | $5.5M | $3.1M | ||
| Q1 24 | $7.9M | $3.1M |
| Q4 25 | — | $-16.0M | ||
| Q3 25 | $-3.8M | $-18.2M | ||
| Q2 25 | $-4.6M | $-19.4M | ||
| Q1 25 | $-4.2M | $-19.9M | ||
| Q4 24 | $-5.8M | $-21.7M | ||
| Q3 24 | $-4.8M | $-21.3M | ||
| Q2 24 | $-6.3M | $-22.9M | ||
| Q1 24 | $-8.4M | $-20.7M |
| Q4 25 | — | 52.0% | ||
| Q3 25 | 14.6% | 51.2% | ||
| Q2 25 | 7.2% | 52.1% | ||
| Q1 25 | 13.1% | 49.0% | ||
| Q4 24 | 3.7% | 50.6% | ||
| Q3 24 | 15.8% | 48.1% | ||
| Q2 24 | 7.7% | 56.3% | ||
| Q1 24 | 3.1% | 44.4% |
| Q4 25 | — | -413.8% | ||
| Q3 25 | -27.1% | -469.4% | ||
| Q2 25 | -46.7% | -506.8% | ||
| Q1 25 | -42.6% | -493.0% | ||
| Q4 24 | -68.4% | -587.2% | ||
| Q3 24 | -44.8% | -603.3% | ||
| Q2 24 | -94.8% | -882.0% | ||
| Q1 24 | -88.3% | -821.7% |
| Q4 25 | — | -380.7% | ||
| Q3 25 | -53.2% | -442.5% | ||
| Q2 25 | -64.0% | -479.5% | ||
| Q1 25 | -61.2% | -474.4% | ||
| Q4 24 | -85.3% | -543.6% | ||
| Q3 24 | -59.8% | -529.0% | ||
| Q2 24 | -115.0% | -743.8% | ||
| Q1 24 | -106.8% | -674.5% |
| Q4 25 | — | — | ||
| Q3 25 | $-0.18 | — | ||
| Q2 25 | $0.21 | — | ||
| Q1 25 | $-0.20 | — | ||
| Q4 24 | $-0.82 | — | ||
| Q3 24 | $-0.23 | $-0.35 | ||
| Q2 24 | $0.29 | $-0.35 | ||
| Q1 24 | $-0.49 | $-0.32 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $47.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $259.3M |
| Total Assets | $56.3M | $296.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $47.3M | ||
| Q3 25 | — | $45.0M | ||
| Q2 25 | — | $37.9M | ||
| Q1 25 | — | $52.4M | ||
| Q4 24 | — | $40.8M | ||
| Q3 24 | — | $37.6M | ||
| Q2 24 | — | $31.9M | ||
| Q1 24 | — | $54.4M |
| Q4 25 | — | $259.3M | ||
| Q3 25 | $-12.9M | $271.8M | ||
| Q2 25 | $-9.2M | $288.3M | ||
| Q1 25 | $-4.8M | $311.0M | ||
| Q4 24 | $-695.9K | $327.6M | ||
| Q3 24 | $5.1M | $344.7M | ||
| Q2 24 | $9.9M | $364.7M | ||
| Q1 24 | $16.2M | $383.6M |
| Q4 25 | — | $296.1M | ||
| Q3 25 | $56.3M | $308.6M | ||
| Q2 25 | $57.3M | $322.5M | ||
| Q1 25 | $58.4M | $347.3M | ||
| Q4 24 | $60.0M | $366.6M | ||
| Q3 24 | $61.9M | $383.4M | ||
| Q2 24 | $63.6M | $406.6M | ||
| Q1 24 | $70.3M | $422.0M |
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 | $-10.8M |
| Free Cash FlowOCF − Capex | — | $-11.1M |
| FCF MarginFCF / Revenue | — | -264.2% |
| Capex IntensityCapex / Revenue | — | 7.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-46.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-10.8M | ||
| Q3 25 | $-190.6K | $-7.6M | ||
| Q2 25 | $-2.2M | $-14.7M | ||
| Q1 25 | $-1.4M | $-11.4M | ||
| Q4 24 | $-819.4K | $-11.5M | ||
| Q3 24 | $-3.3M | $-14.1M | ||
| Q2 24 | $-4.2M | $-10.1M | ||
| Q1 24 | $-6.8M | $-10.5M |
| Q4 25 | — | $-11.1M | ||
| Q3 25 | — | $-7.8M | ||
| Q2 25 | — | $-15.2M | ||
| Q1 25 | $-1.4M | $-12.1M | ||
| Q4 24 | $-951.6K | $-12.0M | ||
| Q3 24 | $-3.7M | $-16.3M | ||
| Q2 24 | $-4.7M | $-11.2M | ||
| Q1 24 | $-7.3M | $-11.2M |
| Q4 25 | — | -264.2% | ||
| Q3 25 | — | -190.5% | ||
| Q2 25 | — | -375.9% | ||
| Q1 25 | -20.3% | -287.1% | ||
| Q4 24 | -14.1% | -299.8% | ||
| Q3 24 | -46.1% | -404.7% | ||
| Q2 24 | -86.7% | -366.0% | ||
| Q1 24 | -92.7% | -365.6% |
| Q4 25 | — | 7.0% | ||
| Q3 25 | — | 6.9% | ||
| Q2 25 | — | 14.0% | ||
| Q1 25 | 0.2% | 15.6% | ||
| Q4 24 | 2.0% | 13.4% | ||
| Q3 24 | 5.6% | 54.4% | ||
| Q2 24 | 9.4% | 38.2% | ||
| Q1 24 | 7.0% | 24.6% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
