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Side-by-side financial comparison of Confluent, Inc. (CFLT) and Metallus Inc. (MTUS). Click either name above to swap in a different company.
Confluent, Inc. is the larger business by last-quarter revenue ($314.8M vs $308.3M, roughly 1.0× Metallus Inc.). Metallus Inc. runs the higher net margin — 1.8% vs -25.2%, a 26.9% gap on every dollar of revenue. On growth, Confluent, Inc. posted the faster year-over-year revenue change (20.5% vs 9.9%). Over the past eight quarters, Confluent, Inc.'s revenue compounded faster (20.4% CAGR vs 2.3%).
Confluent, Inc. is an American technology company headquartered in Mountain View, California. Confluent was founded by Jay Kreps, Jun Rao and Neha Narkhede on September 23, 2014, in order to commercialize an open-source streaming platform Apache Kafka, created by the same founders while working at LinkedIn in 2008 as a B2B infrastructure company. Confluent's products are the Confluent Cloud, Confluent Platform, Connectors, Apache Flink, Stream Governance and Confluent Hub.
CFLT vs MTUS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $314.8M | $308.3M |
| Net Profit | $-79.2M | $5.4M |
| Gross Margin | 74.7% | 8.1% |
| Operating Margin | -31.5% | — |
| Net Margin | -25.2% | 1.8% |
| Revenue YoY | 20.5% | 9.9% |
| Net Profit YoY | 10.0% | 315.4% |
| EPS (diluted) | $-0.23 | $0.13 |
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.
| Q1 26 | — | $308.3M | ||
| Q4 25 | $314.8M | $267.3M | ||
| Q3 25 | $298.5M | $305.9M | ||
| Q2 25 | $282.3M | $304.6M | ||
| Q1 25 | $271.1M | $280.5M | ||
| Q4 24 | $261.2M | $240.5M | ||
| Q3 24 | $250.2M | $227.2M | ||
| Q2 24 | $235.0M | $294.7M |
| Q1 26 | — | $5.4M | ||
| Q4 25 | $-79.2M | $-14.3M | ||
| Q3 25 | $-66.5M | $8.1M | ||
| Q2 25 | $-82.0M | $3.7M | ||
| Q1 25 | $-67.6M | $1.3M | ||
| Q4 24 | $-88.1M | $-21.4M | ||
| Q3 24 | $-74.1M | $-5.9M | ||
| Q2 24 | $-89.9M | $4.6M |
| Q1 26 | — | 8.1% | ||
| Q4 25 | 74.7% | 2.2% | ||
| Q3 25 | 74.2% | 11.4% | ||
| Q2 25 | 73.7% | 10.6% | ||
| Q1 25 | 74.5% | 7.8% | ||
| Q4 24 | 74.1% | 4.5% | ||
| Q3 24 | 74.5% | 5.3% | ||
| Q2 24 | 72.3% | 8.2% |
| Q1 26 | — | — | ||
| Q4 25 | -31.5% | -7.7% | ||
| Q3 25 | -27.9% | 3.6% | ||
| Q2 25 | -34.2% | 2.8% | ||
| Q1 25 | -37.3% | 1.0% | ||
| Q4 24 | -40.5% | -10.1% | ||
| Q3 24 | -37.4% | -3.1% | ||
| Q2 24 | -46.1% | 2.1% |
| Q1 26 | — | 1.8% | ||
| Q4 25 | -25.2% | -5.3% | ||
| Q3 25 | -22.3% | 2.6% | ||
| Q2 25 | -29.0% | 1.2% | ||
| Q1 25 | -24.9% | 0.5% | ||
| Q4 24 | -33.7% | -8.9% | ||
| Q3 24 | -29.6% | -2.6% | ||
| Q2 24 | -38.3% | 1.6% |
| Q1 26 | — | $0.13 | ||
| Q4 25 | $-0.23 | $-0.34 | ||
| Q3 25 | $-0.19 | $0.19 | ||
| Q2 25 | $-0.24 | $0.09 | ||
| Q1 25 | $-0.20 | $0.03 | ||
| Q4 24 | $-0.26 | $-0.46 | ||
| Q3 24 | $-0.23 | $-0.13 | ||
| Q2 24 | $-0.28 | $0.10 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $347.2M | $104.0M |
| Total DebtLower is stronger | $1.1B | — |
| Stockholders' EquityBook value | $1.2B | $683.0M |
| Total Assets | $3.0B | $1.1B |
| Debt / EquityLower = less leverage | 0.94× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $104.0M | ||
| Q4 25 | $347.2M | $156.7M | ||
| Q3 25 | $298.5M | $191.5M | ||
| Q2 25 | $295.6M | $190.8M | ||
| Q1 25 | $278.6M | $180.3M | ||
| Q4 24 | $386.0M | $240.7M | ||
| Q3 24 | $322.6M | $254.6M | ||
| Q2 24 | $311.3M | $272.8M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | $0 | ||
| Q2 25 | $1.1B | $0 | ||
| Q1 25 | $1.1B | $5.4M | ||
| Q4 24 | $1.1B | $5.4M | ||
| Q3 24 | $1.1B | $13.2M | ||
| Q2 24 | $1.1B | $13.2M |
| Q1 26 | — | $683.0M | ||
| Q4 25 | $1.2B | $686.0M | ||
| Q3 25 | $1.1B | $697.7M | ||
| Q2 25 | $1.1B | $690.0M | ||
| Q1 25 | $1.0B | $686.1M | ||
| Q4 24 | $961.2M | $690.5M | ||
| Q3 24 | $934.3M | $712.7M | ||
| Q2 24 | $873.9M | $736.3M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $3.0B | $1.1B | ||
| Q3 25 | $2.9B | $1.2B | ||
| Q2 25 | $2.8B | $1.1B | ||
| Q1 25 | $2.7B | $1.1B | ||
| Q4 24 | $2.7B | $1.1B | ||
| Q3 24 | $2.6B | $1.1B | ||
| Q2 24 | $2.5B | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.94× | — | ||
| Q3 25 | 0.98× | 0.00× | ||
| Q2 25 | 1.03× | 0.00× | ||
| Q1 25 | 1.07× | 0.01× | ||
| Q4 24 | 1.14× | 0.01× | ||
| Q3 24 | 1.17× | 0.02× | ||
| Q2 24 | 1.25× | 0.02× |
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 | $42.1M | — |
| Free Cash FlowOCF − Capex | $41.7M | — |
| FCF MarginFCF / Revenue | 13.2% | — |
| Capex IntensityCapex / Revenue | 0.1% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $60.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $42.1M | $-1.9M | ||
| Q3 25 | $30.8M | $22.0M | ||
| Q2 25 | $18.1M | $34.8M | ||
| Q1 25 | $-26.8M | $-38.9M | ||
| Q4 24 | $35.2M | $13.9M | ||
| Q3 24 | $15.6M | $-15.3M | ||
| Q2 24 | $8.6M | $8.3M |
| Q1 26 | — | — | ||
| Q4 25 | $41.7M | $-37.2M | ||
| Q3 25 | $30.0M | $-6.4M | ||
| Q2 25 | $17.2M | $17.0M | ||
| Q1 25 | $-28.2M | $-66.4M | ||
| Q4 24 | $34.5M | $-1.3M | ||
| Q3 24 | $15.0M | $-32.9M | ||
| Q2 24 | $7.5M | $-5.8M |
| Q1 26 | — | — | ||
| Q4 25 | 13.2% | -13.9% | ||
| Q3 25 | 10.0% | -2.1% | ||
| Q2 25 | 6.1% | 5.6% | ||
| Q1 25 | -10.4% | -23.7% | ||
| Q4 24 | 13.2% | -0.5% | ||
| Q3 24 | 6.0% | -14.5% | ||
| Q2 24 | 3.2% | -2.0% |
| Q1 26 | — | 0.0% | ||
| Q4 25 | 0.1% | 13.2% | ||
| Q3 25 | 0.3% | 9.3% | ||
| Q2 25 | 0.3% | 5.8% | ||
| Q1 25 | 0.5% | 9.8% | ||
| Q4 24 | 0.3% | 6.3% | ||
| Q3 24 | 0.2% | 7.7% | ||
| Q2 24 | 0.5% | 4.8% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 9.41× | ||
| Q1 25 | — | -29.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.80× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CFLT
| Confluent Cloud | $169.4M | 54% |
| Post Contract Customer Support | $93.8M | 30% |
| License | $38.4M | 12% |
| Services | $13.2M | 4% |
MTUS
Segment breakdown not available.
