vs
Side-by-side financial comparison of Cipher Mining Inc. (CIFR) and Clarus Corp (CLAR). Click either name above to swap in a different company.
Clarus Corp is the larger business by last-quarter revenue ($65.4M vs $59.7M, roughly 1.1× Cipher Mining Inc.). Clarus Corp runs the higher net margin — -47.8% vs -1229.6%, a 1181.8% gap on every dollar of revenue. On growth, Cipher Mining Inc. posted the faster year-over-year revenue change (41.4% vs -8.4%). Clarus Corp produced more free cash flow last quarter ($11.6M vs $-695.9M). Over the past eight quarters, Cipher Mining Inc.'s revenue compounded faster (11.4% CAGR vs -2.9%).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
Clarus Corp is a global designer, manufacturer, and distributor of high-performance outdoor recreation, climbing, camping, and lifestyle products. It manages a portfolio of leading consumer brands, serving outdoor enthusiasts, professional athletes, and retail partners across North America, Europe, and the Asia-Pacific region, with a focus on innovative, durable gear for active lifestyles.
CIFR vs CLAR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $65.4M |
| Net Profit | $-734.2M | $-31.3M |
| Gross Margin | 59.4% | 27.7% |
| Operating Margin | -503.4% | -59.6% |
| Net Margin | -1229.6% | -47.8% |
| Revenue YoY | 41.4% | -8.4% |
| Net Profit YoY | -4293.1% | 52.3% |
| EPS (diluted) | $-1.91 | $-0.81 |
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 | $59.7M | $65.4M | ||
| Q3 25 | $71.7M | $69.3M | ||
| Q2 25 | $43.6M | $55.2M | ||
| Q1 25 | $49.0M | $60.4M | ||
| Q4 24 | $42.2M | $71.4M | ||
| Q3 24 | $24.1M | $67.1M | ||
| Q2 24 | $36.8M | $56.5M | ||
| Q1 24 | $48.1M | $69.3M |
| Q4 25 | $-734.2M | $-31.3M | ||
| Q3 25 | $-3.3M | $-1.6M | ||
| Q2 25 | $-45.8M | $-8.4M | ||
| Q1 25 | $-39.0M | $-5.2M | ||
| Q4 24 | $17.5M | $-65.5M | ||
| Q3 24 | $-86.8M | $-3.2M | ||
| Q2 24 | $-15.3M | $-5.5M | ||
| Q1 24 | $39.9M | $21.9M |
| Q4 25 | 59.4% | 27.7% | ||
| Q3 25 | 62.7% | 35.1% | ||
| Q2 25 | 64.8% | 35.6% | ||
| Q1 25 | 69.6% | 34.4% | ||
| Q4 24 | 56.9% | 33.4% | ||
| Q3 24 | 37.5% | 35.0% | ||
| Q2 24 | 61.2% | 36.1% | ||
| Q1 24 | 69.2% | 35.9% |
| Q4 25 | -503.4% | -59.6% | ||
| Q3 25 | -52.5% | -4.4% | ||
| Q2 25 | -103.9% | -19.7% | ||
| Q1 25 | -77.8% | -11.2% | ||
| Q4 24 | 40.5% | -70.2% | ||
| Q3 24 | -379.2% | -8.0% | ||
| Q2 24 | -43.9% | -14.4% | ||
| Q1 24 | 97.2% | -9.8% |
| Q4 25 | -1229.6% | -47.8% | ||
| Q3 25 | -4.6% | -2.3% | ||
| Q2 25 | -105.1% | -15.3% | ||
| Q1 25 | -79.6% | -8.7% | ||
| Q4 24 | 41.5% | -91.8% | ||
| Q3 24 | -359.9% | -4.7% | ||
| Q2 24 | -41.5% | -9.7% | ||
| Q1 24 | 82.9% | 31.6% |
| Q4 25 | $-1.91 | $-0.81 | ||
| Q3 25 | $-0.01 | $-0.04 | ||
| Q2 25 | $-0.12 | $-0.22 | ||
| Q1 25 | $-0.11 | $-0.14 | ||
| Q4 24 | $0.04 | $-1.72 | ||
| Q3 24 | $-0.26 | $-0.08 | ||
| Q2 24 | $-0.05 | $-0.14 | ||
| Q1 24 | $0.13 | $0.57 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $628.3M | $36.7M |
| Total DebtLower is stronger | $2.7B | $0 |
| Stockholders' EquityBook value | $805.5M | $196.4M |
| Total Assets | $4.3B | $249.0M |
| Debt / EquityLower = less leverage | 3.37× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $628.3M | $36.7M | ||
| Q3 25 | $1.2B | $29.5M | ||
| Q2 25 | $62.7M | $28.5M | ||
| Q1 25 | $23.2M | $41.3M | ||
| Q4 24 | $5.6M | $45.4M | ||
| Q3 24 | $25.3M | $36.4M | ||
| Q2 24 | $122.6M | $46.2M | ||
| Q1 24 | $88.7M | $47.5M |
| Q4 25 | $2.7B | $0 | ||
| Q3 25 | $1.0B | $2.0M | ||
| Q2 25 | $167.1M | $1.9M | ||
| Q1 25 | — | $1.9M | ||
| Q4 24 | $0 | $1.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $37.0K |
| Q4 25 | $805.5M | $196.4M | ||
| Q3 25 | $783.2M | $225.8M | ||
| Q2 25 | $748.9M | $225.1M | ||
| Q1 25 | $734.8M | $229.3M | ||
| Q4 24 | $682.0M | $233.1M | ||
| Q3 24 | $672.0M | $308.5M | ||
| Q2 24 | $690.8M | $307.3M | ||
| Q1 24 | $600.9M | $310.4M |
| Q4 25 | $4.3B | $249.0M | ||
| Q3 25 | $2.8B | $283.1M | ||
| Q2 25 | $1.0B | $286.5M | ||
| Q1 25 | $913.8M | $292.8M | ||
| Q4 24 | $855.4M | $294.1M | ||
| Q3 24 | $775.4M | $375.3M | ||
| Q2 24 | $775.6M | $369.4M | ||
| Q1 24 | $677.1M | $377.0M |
| Q4 25 | 3.37× | 0.00× | ||
| Q3 25 | 1.31× | 0.01× | ||
| Q2 25 | 0.22× | 0.01× | ||
| Q1 25 | — | 0.01× | ||
| Q4 24 | 0.00× | 0.01× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 0.00× |
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 | $-207.9M | $12.5M |
| Free Cash FlowOCF − Capex | $-695.9M | $11.6M |
| FCF MarginFCF / Revenue | -1165.4% | 17.7% |
| Capex IntensityCapex / Revenue | 817.1% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.1B | $-9.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-207.9M | $12.5M | ||
| Q3 25 | $-50.1M | $-5.7M | ||
| Q2 25 | $-56.2M | $-9.4M | ||
| Q1 25 | $-47.2M | $-2.1M | ||
| Q4 24 | $-87.5M | $16.6M | ||
| Q3 24 | $-6.5M | $-8.3M | ||
| Q2 24 | $-25.4M | $834.0K | ||
| Q1 24 | $-26.6M | $-16.4M |
| Q4 25 | $-695.9M | $11.6M | ||
| Q3 25 | $-256.2M | $-7.0M | ||
| Q2 25 | $-87.5M | $-11.3M | ||
| Q1 25 | $-71.8M | $-3.3M | ||
| Q4 24 | $-227.0M | $14.4M | ||
| Q3 24 | $-83.2M | $-9.4M | ||
| Q2 24 | $-33.2M | $-744.0K | ||
| Q1 24 | $-34.5M | $-18.3M |
| Q4 25 | -1165.4% | 17.7% | ||
| Q3 25 | -357.3% | -10.0% | ||
| Q2 25 | -200.9% | -20.4% | ||
| Q1 25 | -146.7% | -5.4% | ||
| Q4 24 | -537.6% | 20.1% | ||
| Q3 24 | -345.0% | -14.0% | ||
| Q2 24 | -90.2% | -1.3% | ||
| Q1 24 | -71.7% | -26.3% |
| Q4 25 | 817.1% | 1.4% | ||
| Q3 25 | 287.5% | 1.8% | ||
| Q2 25 | 71.8% | 3.4% | ||
| Q1 25 | 50.2% | 2.0% | ||
| Q4 24 | 330.4% | 3.1% | ||
| Q3 24 | 317.8% | 1.6% | ||
| Q2 24 | 21.4% | 2.8% | ||
| Q1 24 | 16.4% | 2.7% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.67× | -0.75× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CIFR
Segment breakdown not available.
CLAR
| Other | $37.1M | 57% |
| Outdoor Segment | $25.3M | 39% |
| Adventure Segment | $3.0M | 5% |
