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Side-by-side financial comparison of Borealis Foods Inc. (BRLS) and Xos, Inc. (XOS). Click either name above to swap in a different company.
Borealis Foods Inc. is the larger business by last-quarter revenue ($7.1M vs $5.2M, roughly 1.4× Xos, Inc.). Borealis Foods Inc. runs the higher net margin — -53.2% vs -186.8%, a 133.6% gap on every dollar of revenue. On growth, Borealis Foods Inc. posted the faster year-over-year revenue change (-12.0% vs -54.5%). Over the past eight quarters, Borealis Foods Inc.'s revenue compounded faster (-2.4% CAGR vs -35.7%).
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.
Xos, Inc. is an American manufacturer of commercial electric vehicles (EVs) and mobile EV chargers.
BRLS vs XOS — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $5.2M |
| Net Profit | $-3.8M | $-9.8M |
| Gross Margin | 14.6% | -50.5% |
| Operating Margin | -27.1% | -186.6% |
| Net Margin | -53.2% | -186.8% |
| Revenue YoY | -12.0% | -54.5% |
| Net Profit YoY | 21.8% | 48.6% |
| EPS (diluted) | $-0.18 | $-0.76 |
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 | — | $5.2M | ||
| Q3 25 | $7.1M | $16.5M | ||
| Q2 25 | $7.2M | $18.4M | ||
| Q1 25 | $6.8M | $5.9M | ||
| Q4 24 | $6.8M | $11.5M | ||
| Q3 24 | $8.1M | $15.8M | ||
| Q2 24 | $5.5M | $15.5M | ||
| Q1 24 | $7.9M | $12.6M |
| Q4 25 | — | $-9.8M | ||
| Q3 25 | $-3.8M | $2.1M | ||
| Q2 25 | $-4.6M | $-7.5M | ||
| Q1 25 | $-4.2M | $-10.2M | ||
| Q4 24 | $-5.8M | $-19.0M | ||
| Q3 24 | $-4.8M | $-10.5M | ||
| Q2 24 | $-6.3M | $-9.7M | ||
| Q1 24 | $-8.4M | $-11.0M |
| Q4 25 | — | -50.5% | ||
| Q3 25 | 14.6% | 15.3% | ||
| Q2 25 | 7.2% | 8.8% | ||
| Q1 25 | 13.1% | 20.6% | ||
| Q4 24 | 3.7% | -32.4% | ||
| Q3 24 | 15.8% | 18.1% | ||
| Q2 24 | 7.7% | 13.1% | ||
| Q1 24 | 3.1% | 22.1% |
| Q4 25 | — | -186.6% | ||
| Q3 25 | -27.1% | -42.4% | ||
| Q2 25 | -46.7% | -38.5% | ||
| Q1 25 | -42.6% | -157.7% | ||
| Q4 24 | -68.4% | -127.0% | ||
| Q3 24 | -44.8% | -61.4% | ||
| Q2 24 | -94.8% | -73.2% | ||
| Q1 24 | -88.3% | -81.1% |
| Q4 25 | — | -186.8% | ||
| Q3 25 | -53.2% | 12.9% | ||
| Q2 25 | -64.0% | -40.8% | ||
| Q1 25 | -61.2% | -173.3% | ||
| Q4 24 | -85.3% | -165.4% | ||
| Q3 24 | -59.8% | -66.6% | ||
| Q2 24 | -115.0% | -62.2% | ||
| Q1 24 | -106.8% | -87.1% |
| Q4 25 | — | $-0.76 | ||
| Q3 25 | $-0.18 | $0.22 | ||
| Q2 25 | $0.21 | $-0.91 | ||
| Q1 25 | $-0.20 | $-1.26 | ||
| Q4 24 | $-0.82 | $-2.34 | ||
| Q3 24 | $-0.23 | $-1.32 | ||
| Q2 24 | $0.29 | $-1.23 | ||
| Q1 24 | $-0.49 | $-1.80 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $14.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-12.9M | $23.3M |
| Total Assets | $56.3M | $60.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $14.0M | ||
| Q3 25 | — | $14.1M | ||
| Q2 25 | — | $8.8M | ||
| Q1 25 | — | $4.8M | ||
| Q4 24 | — | $11.0M | ||
| Q3 24 | — | $8.4M | ||
| Q2 24 | — | $19.7M | ||
| Q1 24 | — | $46.2M |
| Q4 25 | — | $23.3M | ||
| Q3 25 | $-12.9M | $31.1M | ||
| Q2 25 | $-9.2M | $18.3M | ||
| Q1 25 | $-4.8M | $24.8M | ||
| Q4 24 | $-695.9K | $33.6M | ||
| Q3 24 | $5.1M | $50.8M | ||
| Q2 24 | $9.9M | $59.2M | ||
| Q1 24 | $16.2M | $67.8M |
| Q4 25 | — | $60.4M | ||
| Q3 25 | $56.3M | $73.8M | ||
| Q2 25 | $57.3M | $80.3M | ||
| Q1 25 | $58.4M | $87.7M | ||
| Q4 24 | $60.0M | $98.3M | ||
| Q3 24 | $61.9M | $120.5M | ||
| Q2 24 | $63.6M | $123.4M | ||
| Q1 24 | $70.3M | $135.0M |
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 | $2.4M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $2.4M | ||
| Q3 25 | $-190.6K | $3.1M | ||
| Q2 25 | $-2.2M | $4.6M | ||
| Q1 25 | $-1.4M | $-4.8M | ||
| Q4 24 | $-819.4K | $3.3M | ||
| Q3 24 | $-3.3M | $-11.5M | ||
| Q2 24 | $-4.2M | $-26.0M | ||
| Q1 24 | $-6.8M | $-14.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $-1.4M | — | ||
| Q4 24 | $-951.6K | — | ||
| Q3 24 | $-3.7M | $-11.7M | ||
| Q2 24 | $-4.7M | $-26.1M | ||
| Q1 24 | $-7.3M | $-14.6M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -20.3% | — | ||
| Q4 24 | -14.1% | — | ||
| Q3 24 | -46.1% | -73.9% | ||
| Q2 24 | -86.7% | -168.1% | ||
| Q1 24 | -92.7% | -115.7% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | 0.2% | 0.0% | ||
| Q4 24 | 2.0% | 0.0% | ||
| Q3 24 | 5.6% | 0.9% | ||
| Q2 24 | 9.4% | 0.8% | ||
| Q1 24 | 7.0% | 0.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.45× | ||
| 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.
