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Side-by-side financial comparison of Confluent, Inc. (CFLT) and ONE Group Hospitality, Inc. (STKS). Click either name above to swap in a different company.
Confluent, Inc. is the larger business by last-quarter revenue ($314.8M vs $207.0M, roughly 1.5× ONE Group Hospitality, Inc.). ONE Group Hospitality, Inc. runs the higher net margin — -3.1% vs -25.2%, a 22.1% gap on every dollar of revenue. On growth, Confluent, Inc. posted the faster year-over-year revenue change (20.5% vs -6.7%). Confluent, Inc. produced more free cash flow last quarter ($41.7M vs $-329.0K). Over the past eight quarters, ONE Group Hospitality, Inc.'s revenue compounded faster (56.1% CAGR vs 20.4%).
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.
Target Hospitality is a company that provides workforce lodging and other temporary, modular housing used for oil, gas and mining operations; large-scale events; and disaster relief. Target Hospitality is based in The Woodlands, Texas, and also has offices in Williston, North Dakota; Denver, Colorado; Calgary, Alberta.
CFLT vs STKS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $314.8M | $207.0M |
| Net Profit | $-79.2M | $-6.4M |
| Gross Margin | 74.7% | — |
| Operating Margin | -31.5% | 2.2% |
| Net Margin | -25.2% | -3.1% |
| Revenue YoY | 20.5% | -6.7% |
| Net Profit YoY | 10.0% | -531.8% |
| EPS (diluted) | $-0.23 | $-0.50 |
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 | $207.0M | ||
| Q3 25 | $298.5M | $180.2M | ||
| Q2 25 | $282.3M | $207.4M | ||
| Q1 25 | $271.1M | $211.1M | ||
| Q4 24 | $261.2M | $221.9M | ||
| Q3 24 | $250.2M | $194.0M | ||
| Q2 24 | $235.0M | $172.5M | ||
| Q1 24 | $217.2M | $85.0M |
| Q4 25 | $-79.2M | $-6.4M | ||
| Q3 25 | $-66.5M | $-76.7M | ||
| Q2 25 | $-82.0M | $-10.1M | ||
| Q1 25 | $-67.6M | $975.0K | ||
| Q4 24 | $-88.1M | $1.5M | ||
| Q3 24 | $-74.1M | $-9.3M | ||
| Q2 24 | $-89.9M | $-7.3M | ||
| Q1 24 | $-93.0M | $-2.1M |
| Q4 25 | 74.7% | — | ||
| Q3 25 | 74.2% | — | ||
| Q2 25 | 73.7% | — | ||
| Q1 25 | 74.5% | — | ||
| Q4 24 | 74.1% | — | ||
| Q3 24 | 74.5% | — | ||
| Q2 24 | 72.3% | — | ||
| Q1 24 | 71.8% | — |
| Q4 25 | -31.5% | 2.2% | ||
| Q3 25 | -27.9% | -4.4% | ||
| Q2 25 | -34.2% | 0.3% | ||
| Q1 25 | -37.3% | 5.1% | ||
| Q4 24 | -40.5% | 5.5% | ||
| Q3 24 | -37.4% | -1.9% | ||
| Q2 24 | -46.1% | 0.6% | ||
| Q1 24 | -51.3% | -0.7% |
| Q4 25 | -25.2% | -3.1% | ||
| Q3 25 | -22.3% | -42.6% | ||
| Q2 25 | -29.0% | -4.9% | ||
| Q1 25 | -24.9% | 0.5% | ||
| Q4 24 | -33.7% | 0.7% | ||
| Q3 24 | -29.6% | -4.8% | ||
| Q2 24 | -38.3% | -4.3% | ||
| Q1 24 | -42.8% | -2.4% |
| Q4 25 | $-0.23 | $-0.50 | ||
| Q3 25 | $-0.19 | $-2.75 | ||
| Q2 25 | $-0.24 | $-0.59 | ||
| Q1 25 | $-0.20 | $-0.21 | ||
| Q4 24 | $-0.26 | $-0.18 | ||
| Q3 24 | $-0.23 | $-0.53 | ||
| Q2 24 | $-0.28 | $-0.38 | ||
| Q1 24 | $-0.30 | $-0.07 |
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 | $4.2M |
| Total DebtLower is stronger | $1.1B | $354.2M |
| Stockholders' EquityBook value | $1.2B | $-75.8M |
| Total Assets | $3.0B | $884.2M |
| Debt / EquityLower = less leverage | 0.94× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $347.2M | $4.2M | ||
| Q3 25 | $298.5M | $5.5M | ||
| Q2 25 | $295.6M | $4.7M | ||
| Q1 25 | $278.6M | $21.4M | ||
| Q4 24 | $386.0M | $27.6M | ||
| Q3 24 | $322.6M | $28.2M | ||
| Q2 24 | $311.3M | $32.2M | ||
| Q1 24 | $336.4M | $15.4M |
| Q4 25 | $1.1B | $354.2M | ||
| Q3 25 | $1.1B | $355.0M | ||
| Q2 25 | $1.1B | $347.4M | ||
| Q1 25 | $1.1B | $348.3M | ||
| Q4 24 | $1.1B | $348.3M | ||
| Q3 24 | $1.1B | $349.1M | ||
| Q2 24 | $1.1B | $350.0M | ||
| Q1 24 | $1.1B | $73.5M |
| Q4 25 | $1.2B | $-75.8M | ||
| Q3 25 | $1.1B | $-61.5M | ||
| Q2 25 | $1.1B | $23.0M | ||
| Q1 25 | $1.0B | $40.5M | ||
| Q4 24 | $961.2M | $45.9M | ||
| Q3 24 | $934.3M | $51.4M | ||
| Q2 24 | $873.9M | $68.1M | ||
| Q1 24 | $845.2M | $68.3M |
| Q4 25 | $3.0B | $884.2M | ||
| Q3 25 | $2.9B | $879.5M | ||
| Q2 25 | $2.8B | $935.7M | ||
| Q1 25 | $2.7B | $956.0M | ||
| Q4 24 | $2.7B | $960.1M | ||
| Q3 24 | $2.6B | $953.5M | ||
| Q2 24 | $2.5B | $945.9M | ||
| Q1 24 | $2.4B | $309.3M |
| Q4 25 | 0.94× | — | ||
| Q3 25 | 0.98× | — | ||
| Q2 25 | 1.03× | 15.07× | ||
| Q1 25 | 1.07× | 8.61× | ||
| Q4 24 | 1.14× | 7.59× | ||
| Q3 24 | 1.17× | 6.79× | ||
| Q2 24 | 1.25× | 5.14× | ||
| Q1 24 | 1.29× | 1.08× |
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 | $13.1M |
| Free Cash FlowOCF − Capex | $41.7M | $-329.0K |
| FCF MarginFCF / Revenue | 13.2% | -0.2% |
| Capex IntensityCapex / Revenue | 0.1% | 6.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $60.7M | $-27.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $42.1M | $13.1M | ||
| Q3 25 | $30.8M | $5.9M | ||
| Q2 25 | $18.1M | $2.8M | ||
| Q1 25 | $-26.8M | $8.5M | ||
| Q4 24 | $35.2M | $18.5M | ||
| Q3 24 | $15.6M | $19.1M | ||
| Q2 24 | $8.6M | $-3.8M | ||
| Q1 24 | $-26.0M | $10.4M |
| Q4 25 | $41.7M | $-329.0K | ||
| Q3 25 | $30.0M | $-6.1M | ||
| Q2 25 | $17.2M | $-15.0M | ||
| Q1 25 | $-28.2M | $-5.8M | ||
| Q4 24 | $34.5M | $733.0K | ||
| Q3 24 | $15.0M | $287.0K | ||
| Q2 24 | $7.5M | $-23.0M | ||
| Q1 24 | $-26.1M | $-5.4M |
| Q4 25 | 13.2% | -0.2% | ||
| Q3 25 | 10.0% | -3.4% | ||
| Q2 25 | 6.1% | -7.2% | ||
| Q1 25 | -10.4% | -2.7% | ||
| Q4 24 | 13.2% | 0.3% | ||
| Q3 24 | 6.0% | 0.1% | ||
| Q2 24 | 3.2% | -13.3% | ||
| Q1 24 | -12.0% | -6.4% |
| Q4 25 | 0.1% | 6.5% | ||
| Q3 25 | 0.3% | 6.7% | ||
| Q2 25 | 0.3% | 8.6% | ||
| Q1 25 | 0.5% | 6.8% | ||
| Q4 24 | 0.3% | 8.0% | ||
| Q3 24 | 0.2% | 9.7% | ||
| Q2 24 | 0.5% | 11.1% | ||
| Q1 24 | 0.1% | 18.6% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 8.76× | ||
| Q4 24 | — | 12.54× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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% |
STKS
| Benihanas | $111.3M | 54% |
| Steakhouse Restaurant | $59.2M | 29% |
| Grill Concepts | $32.3M | 16% |
| Other | $4.2M | 2% |
