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Side-by-side financial comparison of BTCS Inc. (BTCS) and Satellogic Inc. (SATL). Click either name above to swap in a different company.
BTCS Inc. is the larger business by last-quarter revenue ($7.1M vs $6.2M, roughly 1.1× Satellogic Inc.). BTCS Inc. produced more free cash flow last quarter ($-9.8M vs $-12.8M).
Satellogic Inc. is an American company specializing in Earth-observation satellites, founded in 2010 by Emiliano Kargieman and Gerardo Richarte.
BTCS vs SATL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $6.2M |
| Net Profit | — | $30.5M |
| Gross Margin | 12.4% | — |
| Operating Margin | — | -114.2% |
| Net Margin | — | 488.0% |
| Revenue YoY | 205.5% | — |
| Net Profit YoY | — | — |
| EPS (diluted) | $-1.58 | $0.24 |
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 | $6.2M | ||
| Q3 25 | $4.9M | $3.6M | ||
| Q2 25 | $2.8M | $4.4M | ||
| Q1 25 | $1.7M | $3.4M | ||
| Q4 24 | $2.3M | — | ||
| Q3 24 | $739.2K | — | ||
| Q2 24 | $561.2K | $3.5M | ||
| Q1 24 | $451.4K | — |
| Q4 25 | — | $30.5M | ||
| Q3 25 | $65.6M | $4.0M | ||
| Q2 25 | $3.9M | $-6.7M | ||
| Q1 25 | $-17.3M | $-32.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-9.0M | — | ||
| Q2 24 | $-6.7M | $-18.1M | ||
| Q1 24 | $12.3M | — |
| Q4 25 | 12.4% | — | ||
| Q3 25 | 22.0% | — | ||
| Q2 25 | -2.9% | — | ||
| Q1 25 | 7.1% | — | ||
| Q4 24 | 2.9% | — | ||
| Q3 24 | 26.5% | — | ||
| Q2 24 | 69.9% | — | ||
| Q1 24 | 64.4% | — |
| Q4 25 | — | -114.2% | ||
| Q3 25 | — | -222.5% | ||
| Q2 25 | — | -141.6% | ||
| Q1 25 | — | -280.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -419.2% | ||
| Q1 24 | — | — |
| Q4 25 | — | 488.0% | ||
| Q3 25 | 1328.1% | 109.2% | ||
| Q2 25 | 140.0% | -149.8% | ||
| Q1 25 | -1022.5% | -961.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | -1223.0% | — | ||
| Q2 24 | -1198.9% | -517.0% | ||
| Q1 24 | 2715.3% | — |
| Q4 25 | $-1.58 | $0.24 | ||
| Q3 25 | $1.30 | $-0.02 | ||
| Q2 25 | $0.14 | $-0.06 | ||
| Q1 25 | $-0.86 | $-0.34 | ||
| Q4 24 | $0.28 | — | ||
| Q3 24 | $-0.56 | — | ||
| Q2 24 | $-0.43 | $-0.20 | ||
| Q1 24 | $0.63 | — |
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 | $94.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $139.4M | $60.5M |
| Total Assets | $214.6M | $151.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $94.4M | ||
| Q3 25 | $4.5M | $28.3M | ||
| Q2 25 | $639.2K | $32.6M | ||
| Q1 25 | $269.9K | $17.7M | ||
| Q4 24 | $2.0M | — | ||
| Q3 24 | $254.5K | — | ||
| Q2 24 | $536.7K | $25.6M | ||
| Q1 24 | $670.6K | — |
| Q4 25 | $139.4M | $60.5M | ||
| Q3 25 | $225.4M | $-56.9M | ||
| Q2 25 | $31.1M | $-68.1M | ||
| Q1 25 | $20.6M | $-83.1M | ||
| Q4 24 | $34.0M | — | ||
| Q3 24 | $25.2M | — | ||
| Q2 24 | $33.1M | $19.1M | ||
| Q1 24 | $39.3M | — |
| Q4 25 | $214.6M | $151.3M | ||
| Q3 25 | $298.9M | $70.9M | ||
| Q2 25 | $40.8M | $73.8M | ||
| Q1 25 | $21.0M | $61.4M | ||
| Q4 24 | $38.2M | — | ||
| Q3 24 | $26.5M | — | ||
| Q2 24 | $33.8M | $76.6M | ||
| Q1 24 | $39.5M | — |
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 | $-9.5M |
| Free Cash FlowOCF − Capex | $-9.8M | $-12.8M |
| FCF MarginFCF / Revenue | -138.1% | -204.9% |
| Capex IntensityCapex / Revenue | 0.2% | 53.6% |
| Cash ConversionOCF / Net Profit | — | -0.31× |
| TTM Free Cash FlowTrailing 4 quarters | $-15.8M | $-34.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.8M | $-9.5M | ||
| Q3 25 | $-2.8M | $-8.4M | ||
| Q2 25 | $-1.3M | $-4.3M | ||
| Q1 25 | $-1.9M | $-4.7M | ||
| Q4 24 | $-3.5M | — | ||
| Q3 24 | $-695.2K | — | ||
| Q2 24 | $-924.1K | — | ||
| Q1 24 | $-769.0K | — |
| Q4 25 | $-9.8M | $-12.8M | ||
| Q3 25 | $-2.8M | $-9.7M | ||
| Q2 25 | $-1.3M | $-5.1M | ||
| Q1 25 | $-1.9M | $-6.6M | ||
| Q4 24 | $-3.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -138.1% | -204.9% | ||
| Q3 25 | -56.7% | -267.2% | ||
| Q2 25 | -48.2% | -115.3% | ||
| Q1 25 | -112.7% | -195.9% | ||
| Q4 24 | -152.2% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.2% | 53.6% | ||
| Q3 25 | 0.1% | 36.8% | ||
| Q2 25 | 0.1% | 17.5% | ||
| Q1 25 | 0.1% | 56.5% | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -0.31× | ||
| Q3 25 | -0.04× | -2.11× | ||
| Q2 25 | -0.34× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.06× | — |
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% |
SATL
| Transferred At Point In Time | $5.7M | 91% |
| Other | $547.0K | 9% |
