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Side-by-side financial comparison of Confluent, Inc. (CFLT) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Natural Grocers by Vitamin Cottage, Inc. is the larger business by last-quarter revenue ($335.6M vs $314.8M, roughly 1.1× Confluent, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -25.2%, a 28.5% gap on every dollar of revenue. On growth, Confluent, Inc. posted the faster year-over-year revenue change (20.5% vs 1.6%). Confluent, Inc. produced more free cash flow last quarter ($41.7M vs $11.6M). Over the past eight quarters, Confluent, Inc.'s revenue compounded faster (20.4% CAGR vs 4.4%).
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.
Natural Grocers by Vitamin Cottage, Inc. is a U.S.-based specialty retail chain that offers certified organic groceries, dietary supplements, natural personal care items, and eco-friendly household products. It serves health-conscious consumers across multiple U.S. states, following strict quality standards that exclude artificial preservatives, colors, flavors and harmful additives.
CFLT vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $314.8M | $335.6M |
| Net Profit | $-79.2M | $11.3M |
| Gross Margin | 74.7% | 29.5% |
| Operating Margin | -31.5% | 4.4% |
| Net Margin | -25.2% | 3.4% |
| Revenue YoY | 20.5% | 1.6% |
| Net Profit YoY | 10.0% | 14.0% |
| EPS (diluted) | $-0.23 | $0.49 |
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 | $314.8M | $335.6M | ||
| Q3 25 | $298.5M | $336.1M | ||
| Q2 25 | $282.3M | $328.7M | ||
| Q1 25 | $271.1M | $335.8M | ||
| Q4 24 | $261.2M | $330.2M | ||
| Q3 24 | $250.2M | $322.7M | ||
| Q2 24 | $235.0M | $309.1M | ||
| Q1 24 | $217.2M | $308.1M |
| Q4 25 | $-79.2M | $11.3M | ||
| Q3 25 | $-66.5M | $11.8M | ||
| Q2 25 | $-82.0M | $11.6M | ||
| Q1 25 | $-67.6M | $13.1M | ||
| Q4 24 | $-88.1M | $9.9M | ||
| Q3 24 | $-74.1M | $9.0M | ||
| Q2 24 | $-89.9M | $9.2M | ||
| Q1 24 | $-93.0M | $8.0M |
| Q4 25 | 74.7% | 29.5% | ||
| Q3 25 | 74.2% | 29.5% | ||
| Q2 25 | 73.7% | 29.9% | ||
| Q1 25 | 74.5% | 30.3% | ||
| Q4 24 | 74.1% | 29.9% | ||
| Q3 24 | 74.5% | 29.6% | ||
| Q2 24 | 72.3% | 29.2% | ||
| Q1 24 | 71.8% | 29.3% |
| Q4 25 | -31.5% | 4.4% | ||
| Q3 25 | -27.9% | 4.6% | ||
| Q2 25 | -34.2% | 4.7% | ||
| Q1 25 | -37.3% | 5.2% | ||
| Q4 24 | -40.5% | 4.0% | ||
| Q3 24 | -37.4% | 3.7% | ||
| Q2 24 | -46.1% | 4.2% | ||
| Q1 24 | -51.3% | 3.7% |
| Q4 25 | -25.2% | 3.4% | ||
| Q3 25 | -22.3% | 3.5% | ||
| Q2 25 | -29.0% | 3.5% | ||
| Q1 25 | -24.9% | 3.9% | ||
| Q4 24 | -33.7% | 3.0% | ||
| Q3 24 | -29.6% | 2.8% | ||
| Q2 24 | -38.3% | 3.0% | ||
| Q1 24 | -42.8% | 2.6% |
| Q4 25 | $-0.23 | $0.49 | ||
| Q3 25 | $-0.19 | $0.51 | ||
| Q2 25 | $-0.24 | $0.50 | ||
| Q1 25 | $-0.20 | $0.56 | ||
| Q4 24 | $-0.26 | $0.43 | ||
| Q3 24 | $-0.23 | $0.38 | ||
| Q2 24 | $-0.28 | $0.40 | ||
| Q1 24 | $-0.30 | $0.35 |
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 | $23.2M |
| Total DebtLower is stronger | $1.1B | — |
| Stockholders' EquityBook value | $1.2B | $220.0M |
| Total Assets | $3.0B | $668.6M |
| Debt / EquityLower = less leverage | 0.94× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $347.2M | $23.2M | ||
| Q3 25 | $298.5M | $17.1M | ||
| Q2 25 | $295.6M | $13.2M | ||
| Q1 25 | $278.6M | $21.2M | ||
| Q4 24 | $386.0M | $6.3M | ||
| Q3 24 | $322.6M | $8.9M | ||
| Q2 24 | $311.3M | $13.9M | ||
| Q1 24 | $336.4M | $11.0M |
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | — | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — | ||
| Q1 24 | $1.1B | — |
| Q4 25 | $1.2B | $220.0M | ||
| Q3 25 | $1.1B | $212.4M | ||
| Q2 25 | $1.1B | $202.5M | ||
| Q1 25 | $1.0B | $193.0M | ||
| Q4 24 | $961.2M | $181.9M | ||
| Q3 24 | $934.3M | $174.3M | ||
| Q2 24 | $873.9M | $167.8M | ||
| Q1 24 | $845.2M | $160.0M |
| Q4 25 | $3.0B | $668.6M | ||
| Q3 25 | $2.9B | $670.5M | ||
| Q2 25 | $2.8B | $659.0M | ||
| Q1 25 | $2.7B | $664.6M | ||
| Q4 24 | $2.7B | $648.9M | ||
| Q3 24 | $2.6B | $655.5M | ||
| Q2 24 | $2.5B | $654.4M | ||
| Q1 24 | $2.4B | $656.6M |
| Q4 25 | 0.94× | — | ||
| Q3 25 | 0.98× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 1.14× | — | ||
| Q3 24 | 1.17× | — | ||
| Q2 24 | 1.25× | — | ||
| Q1 24 | 1.29× | — |
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 | $21.1M |
| Free Cash FlowOCF − Capex | $41.7M | $11.6M |
| FCF MarginFCF / Revenue | 13.2% | 3.4% |
| Capex IntensityCapex / Revenue | 0.1% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $60.7M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.1M | $21.1M | ||
| Q3 25 | $30.8M | $15.6M | ||
| Q2 25 | $18.1M | $2.9M | ||
| Q1 25 | $-26.8M | $34.1M | ||
| Q4 24 | $35.2M | $2.7M | ||
| Q3 24 | $15.6M | $24.5M | ||
| Q2 24 | $8.6M | $12.4M | ||
| Q1 24 | $-26.0M | $20.2M |
| Q4 25 | $41.7M | $11.6M | ||
| Q3 25 | $30.0M | $7.5M | ||
| Q2 25 | $17.2M | $-4.2M | ||
| Q1 25 | $-28.2M | $27.6M | ||
| Q4 24 | $34.5M | $-6.9M | ||
| Q3 24 | $15.0M | $18.0M | ||
| Q2 24 | $7.5M | $3.6M | ||
| Q1 24 | $-26.1M | $9.8M |
| Q4 25 | 13.2% | 3.4% | ||
| Q3 25 | 10.0% | 2.2% | ||
| Q2 25 | 6.1% | -1.3% | ||
| Q1 25 | -10.4% | 8.2% | ||
| Q4 24 | 13.2% | -2.1% | ||
| Q3 24 | 6.0% | 5.6% | ||
| Q2 24 | 3.2% | 1.2% | ||
| Q1 24 | -12.0% | 3.2% |
| Q4 25 | 0.1% | 2.9% | ||
| Q3 25 | 0.3% | 2.4% | ||
| Q2 25 | 0.3% | 2.2% | ||
| Q1 25 | 0.5% | 1.9% | ||
| Q4 24 | 0.3% | 2.9% | ||
| Q3 24 | 0.2% | 2.0% | ||
| Q2 24 | 0.5% | 2.9% | ||
| Q1 24 | 0.1% | 3.4% |
| Q4 25 | — | 1.86× | ||
| Q3 25 | — | 1.32× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 2.72× | ||
| Q2 24 | — | 1.35× | ||
| Q1 24 | — | 2.54× |
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% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
