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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and Virgin Galactic Holdings, Inc (SPCE). 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× Virgin Galactic Holdings, Inc). Borealis Foods Inc. runs the higher net margin — -53.2% vs -2222.2%, a 2168.9% gap on every dollar of revenue. On growth, Virgin Galactic Holdings, Inc posted the faster year-over-year revenue change (125.5% vs -12.0%).
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.
Virgin Galactic Holdings, Inc. is a British-American spaceflight company founded by Richard Branson and the Virgin Group conglomerate, which retains an 11.9% stake through Virgin Investments Limited.
BRLS vs SPCE — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2024
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $4.2M |
| Net Profit | $-3.8M | $-93.8M |
| Gross Margin | 14.6% | -546.6% |
| Operating Margin | -27.1% | -2412.1% |
| Net Margin | -53.2% | -2222.2% |
| Revenue YoY | -12.0% | 125.5% |
| Net Profit YoY | 21.8% | 30.2% |
| EPS (diluted) | $-0.18 | $-4.36 |
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.
| Q3 25 | $7.1M | — | ||
| Q2 25 | $7.2M | — | ||
| Q1 25 | $6.8M | — | ||
| Q4 24 | $6.8M | — | ||
| Q3 24 | $8.1M | — | ||
| Q2 24 | $5.5M | $4.2M | ||
| Q1 24 | $7.9M | $2.0M | ||
| Q4 23 | $7.5M | $2.8M |
| Q3 25 | $-3.8M | — | ||
| Q2 25 | $-4.6M | — | ||
| Q1 25 | $-4.2M | — | ||
| Q4 24 | $-5.8M | — | ||
| Q3 24 | $-4.8M | — | ||
| Q2 24 | $-6.3M | $-93.8M | ||
| Q1 24 | $-8.4M | $-102.0M | ||
| Q4 23 | $-6.7M | $-104.0M |
| Q3 25 | 14.6% | — | ||
| Q2 25 | 7.2% | — | ||
| Q1 25 | 13.1% | — | ||
| Q4 24 | 3.7% | — | ||
| Q3 24 | 15.8% | — | ||
| Q2 24 | 7.7% | -546.6% | ||
| Q1 24 | 3.1% | -1038.1% | ||
| Q4 23 | 7.5% | -766.4% |
| Q3 25 | -27.1% | — | ||
| Q2 25 | -46.7% | — | ||
| Q1 25 | -42.6% | — | ||
| Q4 24 | -68.4% | — | ||
| Q3 24 | -44.8% | — | ||
| Q2 24 | -94.8% | -2412.1% | ||
| Q1 24 | -88.3% | -5599.9% | ||
| Q4 23 | -60.5% | -4067.8% |
| Q3 25 | -53.2% | — | ||
| Q2 25 | -64.0% | — | ||
| Q1 25 | -61.2% | — | ||
| Q4 24 | -85.3% | — | ||
| Q3 24 | -59.8% | — | ||
| Q2 24 | -115.0% | -2222.2% | ||
| Q1 24 | -106.8% | -5139.1% | ||
| Q4 23 | -89.3% | -3701.8% |
| Q3 25 | $-0.18 | — | ||
| Q2 25 | $0.21 | — | ||
| Q1 25 | $-0.20 | — | ||
| Q4 24 | $-0.82 | — | ||
| Q3 24 | $-0.23 | — | ||
| Q2 24 | $0.29 | $-4.36 | ||
| Q1 24 | $-0.49 | $-5.10 | ||
| Q4 23 | $-0.63 | $-14.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $775.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $394.8M |
| Total Assets | $56.3M | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $775.7M | ||
| Q1 24 | — | $765.2M | ||
| Q4 23 | — | $874.0M |
| Q3 25 | $-12.9M | — | ||
| Q2 25 | $-9.2M | — | ||
| Q1 25 | $-4.8M | — | ||
| Q4 24 | $-695.9K | — | ||
| Q3 24 | $5.1M | — | ||
| Q2 24 | $9.9M | $394.8M | ||
| Q1 24 | $16.2M | $417.6M | ||
| Q4 23 | $-21.3M | $505.5M |
| Q3 25 | $56.3M | — | ||
| Q2 25 | $57.3M | — | ||
| Q1 25 | $58.4M | — | ||
| Q4 24 | $60.0M | — | ||
| Q3 24 | $61.9M | — | ||
| Q2 24 | $63.6M | $1.1B | ||
| Q1 24 | $70.3M | $1.1B | ||
| Q4 23 | $65.8M | $1.2B |
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 | $-79.1M |
| Free Cash FlowOCF − Capex | — | $-113.5M |
| FCF MarginFCF / Revenue | — | -2690.7% |
| Capex IntensityCapex / Revenue | — | 815.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-458.3M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-190.6K | — | ||
| Q2 25 | $-2.2M | — | ||
| Q1 25 | $-1.4M | — | ||
| Q4 24 | $-819.4K | — | ||
| Q3 24 | $-3.3M | — | ||
| Q2 24 | $-4.2M | $-79.1M | ||
| Q1 24 | $-6.8M | $-113.2M | ||
| Q4 23 | $-1.9M | $-95.3M |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-1.4M | — | ||
| Q4 24 | $-951.6K | — | ||
| Q3 24 | $-3.7M | — | ||
| Q2 24 | $-4.7M | $-113.5M | ||
| Q1 24 | $-7.3M | $-126.3M | ||
| Q4 23 | $-2.9M | $-113.7M |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -20.3% | — | ||
| Q4 24 | -14.1% | — | ||
| Q3 24 | -46.1% | — | ||
| Q2 24 | -86.7% | -2690.7% | ||
| Q1 24 | -92.7% | -6362.8% | ||
| Q4 23 | -38.9% | -4046.9% |
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 2.0% | — | ||
| Q3 24 | 5.6% | — | ||
| Q2 24 | 9.4% | 815.5% | ||
| Q1 24 | 7.0% | 658.5% | ||
| Q4 23 | 12.7% | 653.9% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
