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Side-by-side financial comparison of BTCS Inc. (BTCS) and CSP INC (CSPI). Click either name above to swap in a different company.
CSP INC is the larger business by last-quarter revenue ($12.0M vs $7.1M, roughly 1.7× BTCS Inc.). On growth, BTCS Inc. posted the faster year-over-year revenue change (205.5% vs -23.2%). CSP INC produced more free cash flow last quarter ($-3.0M vs $-9.8M). Over the past eight quarters, BTCS Inc.'s revenue compounded faster (296.4% CAGR vs -6.3%).
CSP Inc. is a U.S.-based technology firm offering cybersecurity solutions, managed IT services, high-performance computing systems, and IT consulting support. It serves enterprises across healthcare, finance, manufacturing, and public sectors in North America and select global markets.
BTCS vs CSPI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $12.0M |
| Net Profit | — | $91.0K |
| Gross Margin | 12.4% | 39.3% |
| Operating Margin | — | -0.9% |
| Net Margin | — | 0.8% |
| Revenue YoY | 205.5% | -23.2% |
| Net Profit YoY | — | -80.7% |
| EPS (diluted) | $-1.58 | $0.01 |
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 | $7.1M | $12.0M | ||
| Q3 25 | $4.9M | $14.5M | ||
| Q2 25 | $2.8M | $15.4M | ||
| Q1 25 | $1.7M | $13.1M | ||
| Q4 24 | $2.3M | $15.7M | ||
| Q3 24 | $739.2K | $13.0M | ||
| Q2 24 | $561.2K | $13.1M | ||
| Q1 24 | $451.4K | $13.7M |
| Q4 25 | — | $91.0K | ||
| Q3 25 | $65.6M | $-191.0K | ||
| Q2 25 | $3.9M | $-264.0K | ||
| Q1 25 | $-17.3M | $-108.0K | ||
| Q4 24 | — | $472.0K | ||
| Q3 24 | $-9.0M | $-1.7M | ||
| Q2 24 | $-6.7M | $-185.0K | ||
| Q1 24 | $12.3M | $1.6M |
| Q4 25 | 12.4% | 39.3% | ||
| Q3 25 | 22.0% | 36.6% | ||
| Q2 25 | -2.9% | 28.8% | ||
| Q1 25 | 7.1% | 32.0% | ||
| Q4 24 | 2.9% | 29.1% | ||
| Q3 24 | 26.5% | 28.4% | ||
| Q2 24 | 69.9% | 35.0% | ||
| Q1 24 | 64.4% | 47.3% |
| Q4 25 | — | -0.9% | ||
| Q3 25 | — | -3.7% | ||
| Q2 25 | — | -7.9% | ||
| Q1 25 | — | -7.6% | ||
| Q4 24 | — | -2.3% | ||
| Q3 24 | — | -15.7% | ||
| Q2 24 | — | -5.5% | ||
| Q1 24 | — | 9.0% |
| Q4 25 | — | 0.8% | ||
| Q3 25 | 1328.1% | -1.3% | ||
| Q2 25 | 140.0% | -1.7% | ||
| Q1 25 | -1022.5% | -0.8% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | -1223.0% | -12.7% | ||
| Q2 24 | -1198.9% | -1.4% | ||
| Q1 24 | 2715.3% | 11.6% |
| Q4 25 | $-1.58 | $0.01 | ||
| Q3 25 | $1.30 | $-0.02 | ||
| Q2 25 | $0.14 | $-0.03 | ||
| Q1 25 | $-0.86 | $-0.01 | ||
| Q4 24 | $0.28 | $0.05 | ||
| Q3 24 | $-0.56 | $-0.17 | ||
| Q2 24 | $-0.43 | $-0.02 | ||
| Q1 24 | $0.63 | $0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5M | $24.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $139.4M | $44.8M |
| Total Assets | $214.6M | $69.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $24.9M | ||
| Q3 25 | $4.5M | $27.4M | ||
| Q2 25 | $639.2K | $26.3M | ||
| Q1 25 | $269.9K | $29.5M | ||
| Q4 24 | $2.0M | $30.7M | ||
| Q3 24 | $254.5K | $30.6M | ||
| Q2 24 | $536.7K | $28.9M | ||
| Q1 24 | $670.6K | $27.1M |
| Q4 25 | $139.4M | $44.8M | ||
| Q3 25 | $225.4M | $44.6M | ||
| Q2 25 | $31.1M | $47.5M | ||
| Q1 25 | $20.6M | $47.5M | ||
| Q4 24 | $34.0M | $47.5M | ||
| Q3 24 | $25.2M | $47.3M | ||
| Q2 24 | $33.1M | $48.1M | ||
| Q1 24 | $39.3M | $48.2M |
| Q4 25 | $214.6M | $69.2M | ||
| Q3 25 | $298.9M | $71.2M | ||
| Q2 25 | $40.8M | $66.8M | ||
| Q1 25 | $21.0M | $67.1M | ||
| Q4 24 | $38.2M | $67.5M | ||
| Q3 24 | $26.5M | $69.4M | ||
| Q2 24 | $33.8M | $66.8M | ||
| Q1 24 | $39.5M | $64.2M |
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 | $-9.8M | $-2.9M |
| Free Cash FlowOCF − Capex | $-9.8M | $-3.0M |
| FCF MarginFCF / Revenue | -138.1% | -25.1% |
| Capex IntensityCapex / Revenue | 0.2% | 0.9% |
| Cash ConversionOCF / Net Profit | — | -32.04× |
| TTM Free Cash FlowTrailing 4 quarters | $-15.8M | $-2.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.8M | $-2.9M | ||
| Q3 25 | $-2.8M | $1.9M | ||
| Q2 25 | $-1.3M | $-3.3M | ||
| Q1 25 | $-1.9M | $1.9M | ||
| Q4 24 | $-3.5M | $1.7M | ||
| Q3 24 | $-695.2K | $-1.5M | ||
| Q2 24 | $-924.1K | $2.4M | ||
| Q1 24 | $-769.0K | $1.7M |
| Q4 25 | $-9.8M | $-3.0M | ||
| Q3 25 | $-2.8M | $1.7M | ||
| Q2 25 | $-1.3M | $-3.3M | ||
| Q1 25 | $-1.9M | $1.9M | ||
| Q4 24 | $-3.5M | $1.7M | ||
| Q3 24 | — | $-1.5M | ||
| Q2 24 | — | $2.4M | ||
| Q1 24 | — | $1.6M |
| Q4 25 | -138.1% | -25.1% | ||
| Q3 25 | -56.7% | 11.5% | ||
| Q2 25 | -48.2% | -21.7% | ||
| Q1 25 | -112.7% | 14.5% | ||
| Q4 24 | -152.2% | 10.8% | ||
| Q3 24 | — | -11.7% | ||
| Q2 24 | — | 17.9% | ||
| Q1 24 | — | 11.9% |
| Q4 25 | 0.2% | 0.9% | ||
| Q3 25 | 0.1% | 1.6% | ||
| Q2 25 | 0.1% | 0.4% | ||
| Q1 25 | 0.1% | 0.1% | ||
| Q4 24 | 0.1% | 0.3% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.3% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | -32.04× | ||
| Q3 25 | -0.04× | — | ||
| Q2 25 | -0.34× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.69× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.06× | 1.04× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BTCS
| Builder Plus | $5.9M | 83% |
| Other | $1.2M | 17% |
CSPI
| Products | $6.7M | 56% |
| Services | $5.3M | 44% |
