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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and Spero Therapeutics, Inc. (SPRO). Click either name above to swap in a different company.
Spero Therapeutics, Inc. is the larger business by last-quarter revenue ($12.6M vs $7.1M, roughly 1.8× Borealis Foods Inc.). Spero Therapeutics, Inc. runs the higher net margin — 250.7% vs -53.2%, a 303.9% gap on every dollar of revenue. On growth, Spero Therapeutics, Inc. posted the faster year-over-year revenue change (24080.8% vs -12.0%). Over the past eight quarters, Spero Therapeutics, Inc.'s revenue compounded faster (847.7% 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.
BRLS vs SPRO — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $12.6M |
| Net Profit | $-3.8M | $31.5M |
| Gross Margin | 14.6% | — |
| Operating Margin | -27.1% | — |
| Net Margin | -53.2% | 250.7% |
| Revenue YoY | -12.0% | 24080.8% |
| Net Profit YoY | 21.8% | 250.9% |
| EPS (diluted) | $-0.18 | $0.56 |
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 | — | $12.6M | ||
| Q3 25 | $7.1M | $0 | ||
| Q2 25 | $7.2M | $0 | ||
| Q1 25 | $6.8M | $12.0K | ||
| Q4 24 | $6.8M | $52.0K | ||
| Q3 24 | $8.1M | $65.0K | ||
| Q2 24 | $5.5M | $114.0K | ||
| Q1 24 | $7.9M | $140.0K |
| Q4 25 | — | $31.5M | ||
| Q3 25 | $-3.8M | $-7.4M | ||
| Q2 25 | $-4.6M | $-1.7M | ||
| Q1 25 | $-4.2M | $-13.9M | ||
| Q4 24 | $-5.8M | — | ||
| Q3 24 | $-4.8M | $-17.1M | ||
| Q2 24 | $-6.3M | $-17.9M | ||
| Q1 24 | $-8.4M | $-12.7M |
| 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% | -122758.3% | ||
| Q4 24 | -68.4% | — | ||
| Q3 24 | -44.8% | -28604.6% | ||
| Q2 24 | -94.8% | -16720.2% | ||
| Q1 24 | -88.3% | -9987.1% |
| Q4 25 | — | 250.7% | ||
| Q3 25 | -53.2% | — | ||
| Q2 25 | -64.0% | — | ||
| Q1 25 | -61.2% | -115550.0% | ||
| Q4 24 | -85.3% | — | ||
| Q3 24 | -59.8% | -26380.0% | ||
| Q2 24 | -115.0% | -15668.4% | ||
| Q1 24 | -106.8% | -9049.3% |
| Q4 25 | — | $0.56 | ||
| Q3 25 | $-0.18 | $-0.13 | ||
| Q2 25 | $0.21 | $-0.03 | ||
| Q1 25 | $-0.20 | $-0.25 | ||
| Q4 24 | $-0.82 | — | ||
| Q3 24 | $-0.23 | $-0.32 | ||
| Q2 24 | $0.29 | $-0.33 | ||
| Q1 24 | $-0.49 | $-0.24 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $40.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $59.0M |
| Total Assets | $56.3M | $68.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $40.3M | ||
| Q3 25 | — | $48.6M | ||
| Q2 25 | — | $31.2M | ||
| Q1 25 | — | $48.9M | ||
| Q4 24 | — | $52.9M | ||
| Q3 24 | — | $76.3M | ||
| Q2 24 | — | $63.5M | ||
| Q1 24 | — | $82.3M |
| Q4 25 | — | $59.0M | ||
| Q3 25 | $-12.9M | $26.5M | ||
| Q2 25 | $-9.2M | $32.8M | ||
| Q1 25 | $-4.8M | $33.8M | ||
| Q4 24 | $-695.9K | $46.1M | ||
| Q3 24 | $5.1M | $65.5M | ||
| Q2 24 | $9.9M | $80.5M | ||
| Q1 24 | $16.2M | $96.2M |
| Q4 25 | — | $68.9M | ||
| Q3 25 | $56.3M | $54.2M | ||
| Q2 25 | $57.3M | $62.1M | ||
| Q1 25 | $58.4M | $77.7M | ||
| Q4 24 | $60.0M | $110.5M | ||
| Q3 24 | $61.9M | $135.2M | ||
| Q2 24 | $63.6M | $149.9M | ||
| Q1 24 | $70.3M | $167.7M |
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 | $-8.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | -0.26× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-8.4M | ||
| Q3 25 | $-190.6K | $17.4M | ||
| Q2 25 | $-2.2M | $-17.7M | ||
| Q1 25 | $-1.4M | $-4.0M | ||
| Q4 24 | $-819.4K | $-23.4M | ||
| Q3 24 | $-3.3M | $12.8M | ||
| Q2 24 | $-4.2M | $-18.7M | ||
| Q1 24 | $-6.8M | $5.9M |
| 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 | — | -0.26× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
