vs
Side-by-side financial comparison of BTCS Inc. (BTCS) and SES AI Corp (SES). Click either name above to swap in a different company.
BTCS Inc. is the larger business by last-quarter revenue ($7.1M vs $4.6M, roughly 1.6× SES AI Corp). BTCS Inc. produced more free cash flow last quarter ($-9.8M vs $-11.1M).
SES S.A. is a Luxembourgish communications satellite operator supplying video and data connectivity worldwide to broadcasters, content and internet service providers, mobile and fixed network operators, governments and institutions.
BTCS vs SES — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $7.1M | $4.6M |
| Net Profit | — | $-17.0M |
| Gross Margin | 12.4% | 11.3% |
| Operating Margin | — | -387.7% |
| Net Margin | — | -373.5% |
| Revenue YoY | 205.5% | — |
| Net Profit YoY | — | 50.7% |
| EPS (diluted) | $-1.58 | $-0.05 |
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 | $4.6M | ||
| Q3 25 | $4.9M | $7.1M | ||
| Q2 25 | $2.8M | $3.5M | ||
| Q1 25 | $1.7M | $5.8M | ||
| Q4 24 | $2.3M | — | ||
| Q3 24 | $739.2K | — | ||
| Q2 24 | $561.2K | — | ||
| Q1 24 | $451.4K | — |
| Q4 25 | — | $-17.0M | ||
| Q3 25 | $65.6M | $-20.9M | ||
| Q2 25 | $3.9M | $-22.7M | ||
| Q1 25 | $-17.3M | $-12.4M | ||
| Q4 24 | — | — | ||
| Q3 24 | $-9.0M | — | ||
| Q2 24 | $-6.7M | — | ||
| Q1 24 | $12.3M | — |
| Q4 25 | 12.4% | 11.3% | ||
| Q3 25 | 22.0% | 51.1% | ||
| Q2 25 | -2.9% | 73.7% | ||
| Q1 25 | 7.1% | 78.7% | ||
| Q4 24 | 2.9% | — | ||
| Q3 24 | 26.5% | — | ||
| Q2 24 | 69.9% | — | ||
| Q1 24 | 64.4% | — |
| Q4 25 | — | -387.7% | ||
| Q3 25 | — | -262.0% | ||
| Q2 25 | — | -652.3% | ||
| Q1 25 | — | -401.7% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -373.5% | ||
| Q3 25 | 1328.1% | -293.9% | ||
| Q2 25 | 140.0% | -642.2% | ||
| Q1 25 | -1022.5% | -214.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | -1223.0% | — | ||
| Q2 24 | -1198.9% | — | ||
| Q1 24 | 2715.3% | — |
| Q4 25 | $-1.58 | $-0.05 | ||
| Q3 25 | $1.30 | $-0.06 | ||
| Q2 25 | $0.14 | $-0.07 | ||
| Q1 25 | $-0.86 | $-0.04 | ||
| Q4 24 | $0.28 | — | ||
| Q3 24 | $-0.56 | — | ||
| Q2 24 | $-0.43 | — | ||
| 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 | $29.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $139.4M | $214.8M |
| Total Assets | $214.6M | $272.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $29.5M | ||
| Q3 25 | $4.5M | $35.3M | ||
| Q2 25 | $639.2K | $11.8M | ||
| Q1 25 | $269.9K | $56.1M | ||
| Q4 24 | $2.0M | — | ||
| Q3 24 | $254.5K | — | ||
| Q2 24 | $536.7K | — | ||
| Q1 24 | $670.6K | — |
| Q4 25 | $139.4M | $214.8M | ||
| Q3 25 | $225.4M | $228.2M | ||
| Q2 25 | $31.1M | $249.2M | ||
| Q1 25 | $20.6M | $269.9M | ||
| Q4 24 | $34.0M | — | ||
| Q3 24 | $25.2M | — | ||
| Q2 24 | $33.1M | — | ||
| Q1 24 | $39.3M | — |
| Q4 25 | $214.6M | $272.6M | ||
| Q3 25 | $298.9M | $288.8M | ||
| Q2 25 | $40.8M | $290.5M | ||
| Q1 25 | $21.0M | $306.0M | ||
| Q4 24 | $38.2M | — | ||
| Q3 24 | $26.5M | — | ||
| Q2 24 | $33.8M | — | ||
| 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 | $-10.4M |
| Free Cash FlowOCF − Capex | $-9.8M | $-11.1M |
| FCF MarginFCF / Revenue | -138.1% | -243.7% |
| Capex IntensityCapex / Revenue | 0.2% | 15.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-15.8M | $-61.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-9.8M | $-10.4M | ||
| Q3 25 | $-2.8M | $-14.3M | ||
| Q2 25 | $-1.3M | $-10.8M | ||
| Q1 25 | $-1.9M | $-22.8M | ||
| Q4 24 | $-3.5M | — | ||
| Q3 24 | $-695.2K | — | ||
| Q2 24 | $-924.1K | — | ||
| Q1 24 | $-769.0K | — |
| Q4 25 | $-9.8M | $-11.1M | ||
| Q3 25 | $-2.8M | $-14.7M | ||
| Q2 25 | $-1.3M | $-11.6M | ||
| Q1 25 | $-1.9M | $-23.7M | ||
| Q4 24 | $-3.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -138.1% | -243.7% | ||
| Q3 25 | -56.7% | -206.9% | ||
| Q2 25 | -48.2% | -329.6% | ||
| Q1 25 | -112.7% | -410.0% | ||
| Q4 24 | -152.2% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 0.2% | 15.6% | ||
| Q3 25 | 0.1% | 6.0% | ||
| Q2 25 | 0.1% | 22.8% | ||
| Q1 25 | 0.1% | 15.8% | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -0.04× | — | ||
| 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% |
SES
Segment breakdown not available.
