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Side-by-side financial comparison of Cipher Mining Inc. (CIFR) and GLADSTONE COMMERCIAL CORP (GOOD). Click either name above to swap in a different company.
Cipher Mining Inc. is the larger business by last-quarter revenue ($59.7M vs $41.9M, roughly 1.4× GLADSTONE COMMERCIAL CORP). GLADSTONE COMMERCIAL CORP runs the higher net margin — 16.6% vs -1229.6%, a 1246.2% gap on every dollar of revenue. On growth, Cipher Mining Inc. posted the faster year-over-year revenue change (41.4% vs -3.6%). Over the past eight quarters, Cipher Mining Inc.'s revenue compounded faster (11.4% CAGR vs 6.3%).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
Gladstone Commercial Corp is a publicly traded US real estate investment trust focused on acquiring, owning, and operating diversified industrial and commercial properties. It offers long-term net lease agreements to tenants across manufacturing, logistics, healthcare and professional services sectors, mainly serving small to mid-sized business clients.
CIFR vs GOOD — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $41.9M |
| Net Profit | $-734.2M | $7.0M |
| Gross Margin | 59.4% | — |
| Operating Margin | -503.4% | 160.2% |
| Net Margin | -1229.6% | 16.6% |
| Revenue YoY | 41.4% | -3.6% |
| Net Profit YoY | -4293.1% | 29.5% |
| EPS (diluted) | $-1.91 | — |
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 | — | $41.9M | ||
| Q4 25 | $59.7M | $43.5M | ||
| Q3 25 | $71.7M | $40.8M | ||
| Q2 25 | $43.6M | $39.5M | ||
| Q1 25 | $49.0M | $37.5M | ||
| Q4 24 | $42.2M | $37.4M | ||
| Q3 24 | $24.1M | $39.2M | ||
| Q2 24 | $36.8M | $37.1M |
| Q1 26 | — | $7.0M | ||
| Q4 25 | $-734.2M | $5.4M | ||
| Q3 25 | $-3.3M | $4.1M | ||
| Q2 25 | $-45.8M | $4.6M | ||
| Q1 25 | $-39.0M | $5.1M | ||
| Q4 24 | $17.5M | $7.2M | ||
| Q3 24 | $-86.8M | $11.7M | ||
| Q2 24 | $-15.3M | $1.6M |
| Q1 26 | — | — | ||
| Q4 25 | 59.4% | — | ||
| Q3 25 | 62.7% | — | ||
| Q2 25 | 64.8% | — | ||
| Q1 25 | 69.6% | — | ||
| Q4 24 | 56.9% | — | ||
| Q3 24 | 37.5% | — | ||
| Q2 24 | 61.2% | — |
| Q1 26 | — | 160.2% | ||
| Q4 25 | -503.4% | — | ||
| Q3 25 | -52.5% | — | ||
| Q2 25 | -103.9% | — | ||
| Q1 25 | -77.8% | — | ||
| Q4 24 | 40.5% | — | ||
| Q3 24 | -379.2% | — | ||
| Q2 24 | -43.9% | — |
| Q1 26 | — | 16.6% | ||
| Q4 25 | -1229.6% | 12.4% | ||
| Q3 25 | -4.6% | 10.1% | ||
| Q2 25 | -105.1% | 11.7% | ||
| Q1 25 | -79.6% | 13.7% | ||
| Q4 24 | 41.5% | 19.2% | ||
| Q3 24 | -359.9% | 29.8% | ||
| Q2 24 | -41.5% | 4.3% |
| Q1 26 | — | — | ||
| Q4 25 | $-1.91 | $0.05 | ||
| Q3 25 | $-0.01 | $0.02 | ||
| Q2 25 | $-0.12 | $0.03 | ||
| Q1 25 | $-0.11 | $0.04 | ||
| Q4 24 | $0.04 | $0.10 | ||
| Q3 24 | $-0.26 | $0.20 | ||
| Q2 24 | $-0.05 | $-0.04 |
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 | — |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $805.5M | — |
| Total Assets | $4.3B | $1.2B |
| Debt / EquityLower = less leverage | 3.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $628.3M | $10.8M | ||
| Q3 25 | $1.2B | $18.4M | ||
| Q2 25 | $62.7M | $11.7M | ||
| Q1 25 | $23.2M | $10.4M | ||
| Q4 24 | $5.6M | $11.0M | ||
| Q3 24 | $25.3M | $10.5M | ||
| Q2 24 | $122.6M | $10.4M |
| Q1 26 | — | — | ||
| Q4 25 | $2.7B | $843.5M | ||
| Q3 25 | $1.0B | $843.3M | ||
| Q2 25 | $167.1M | $794.4M | ||
| Q1 25 | — | $740.7M | ||
| Q4 24 | $0 | $693.4M | ||
| Q3 24 | — | $692.6M | ||
| Q2 24 | — | $722.5M |
| Q1 26 | — | — | ||
| Q4 25 | $805.5M | $171.8M | ||
| Q3 25 | $783.2M | $184.8M | ||
| Q2 25 | $748.9M | $177.2M | ||
| Q1 25 | $734.8M | $183.2M | ||
| Q4 24 | $682.0M | $171.2M | ||
| Q3 24 | $672.0M | $168.9M | ||
| Q2 24 | $690.8M | $145.7M |
| Q1 26 | — | $1.2B | ||
| Q4 25 | $4.3B | $1.2B | ||
| Q3 25 | $2.8B | $1.3B | ||
| Q2 25 | $1.0B | $1.2B | ||
| Q1 25 | $913.8M | $1.2B | ||
| Q4 24 | $855.4M | $1.1B | ||
| Q3 24 | $775.4M | $1.1B | ||
| Q2 24 | $775.6M | $1.1B |
| Q1 26 | — | — | ||
| Q4 25 | 3.37× | 4.91× | ||
| Q3 25 | 1.31× | 4.56× | ||
| Q2 25 | 0.22× | 4.48× | ||
| Q1 25 | — | 4.04× | ||
| Q4 24 | 0.00× | 4.05× | ||
| Q3 24 | — | 4.10× | ||
| Q2 24 | — | 4.96× |
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 | — |
| Free Cash FlowOCF − Capex | $-695.9M | — |
| FCF MarginFCF / Revenue | -1165.4% | — |
| Capex IntensityCapex / Revenue | 817.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.1B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-207.9M | $88.2M | ||
| Q3 25 | $-50.1M | $18.9M | ||
| Q2 25 | $-56.2M | $35.8M | ||
| Q1 25 | $-47.2M | $17.7M | ||
| Q4 24 | $-87.5M | $57.0M | ||
| Q3 24 | $-6.5M | $5.5M | ||
| Q2 24 | $-25.4M | $13.6M |
| Q1 26 | — | — | ||
| Q4 25 | $-695.9M | — | ||
| Q3 25 | $-256.2M | — | ||
| Q2 25 | $-87.5M | — | ||
| Q1 25 | $-71.8M | — | ||
| Q4 24 | $-227.0M | — | ||
| Q3 24 | $-83.2M | — | ||
| Q2 24 | $-33.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | -1165.4% | — | ||
| Q3 25 | -357.3% | — | ||
| Q2 25 | -200.9% | — | ||
| Q1 25 | -146.7% | — | ||
| Q4 24 | -537.6% | — | ||
| Q3 24 | -345.0% | — | ||
| Q2 24 | -90.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 817.1% | — | ||
| Q3 25 | 287.5% | — | ||
| Q2 25 | 71.8% | — | ||
| Q1 25 | 50.2% | — | ||
| Q4 24 | 330.4% | — | ||
| Q3 24 | 317.8% | — | ||
| Q2 24 | 21.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 16.38× | ||
| Q3 25 | — | 4.57× | ||
| Q2 25 | — | 7.74× | ||
| Q1 25 | — | 3.44× | ||
| Q4 24 | -5.00× | 7.93× | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | — | 8.44× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
