vs
Side-by-side financial comparison of Cipher Mining Inc. (CIFR) and Globalstar, Inc. (GSAT). Click either name above to swap in a different company.
Globalstar, Inc. is the larger business by last-quarter revenue ($72.0M vs $59.7M, roughly 1.2× Cipher Mining Inc.). Globalstar, Inc. runs the higher net margin — -16.1% vs -1229.6%, a 1213.5% gap on every dollar of revenue. On growth, Cipher Mining Inc. posted the faster year-over-year revenue change (41.4% vs 17.6%). Over the past eight quarters, Globalstar, Inc.'s revenue compounded faster (12.9% CAGR vs 11.4%).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
Globalstar, Inc. is an American telecommunications company that operates a satellite constellation in low Earth orbit (LEO) for satellite phone, low-speed data transmission and Earth observation. The Globalstar second-generation constellation consists of 25 satellites.
CIFR vs GSAT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $72.0M |
| Net Profit | $-734.2M | $-11.6M |
| Gross Margin | 59.4% | — |
| Operating Margin | -503.4% | -0.5% |
| Net Margin | -1229.6% | -16.1% |
| Revenue YoY | 41.4% | 17.6% |
| Net Profit YoY | -4293.1% | 76.9% |
| EPS (diluted) | $-1.91 | $-0.11 |
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 | $72.0M | ||
| Q3 25 | $71.7M | $73.8M | ||
| Q2 25 | $43.6M | $67.1M | ||
| Q1 25 | $49.0M | $60.0M | ||
| Q4 24 | $42.2M | $61.2M | ||
| Q3 24 | $24.1M | $72.3M | ||
| Q2 24 | $36.8M | $60.4M | ||
| Q1 24 | $48.1M | $56.5M |
| Q4 25 | $-734.2M | $-11.6M | ||
| Q3 25 | $-3.3M | $1.1M | ||
| Q2 25 | $-45.8M | $19.2M | ||
| Q1 25 | $-39.0M | $-17.3M | ||
| Q4 24 | $17.5M | $-50.2M | ||
| Q3 24 | $-86.8M | $9.9M | ||
| Q2 24 | $-15.3M | $-9.7M | ||
| Q1 24 | $39.9M | $-13.2M |
| 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 24 | 69.2% | — |
| Q4 25 | -503.4% | -0.5% | ||
| Q3 25 | -52.5% | 13.8% | ||
| Q2 25 | -103.9% | 9.2% | ||
| Q1 25 | -77.8% | -14.2% | ||
| Q4 24 | 40.5% | -6.9% | ||
| Q3 24 | -379.2% | 13.0% | ||
| Q2 24 | -43.9% | -2.4% | ||
| Q1 24 | 97.2% | -8.3% |
| Q4 25 | -1229.6% | -16.1% | ||
| Q3 25 | -4.6% | 1.5% | ||
| Q2 25 | -105.1% | 28.6% | ||
| Q1 25 | -79.6% | -28.9% | ||
| Q4 24 | 41.5% | -82.1% | ||
| Q3 24 | -359.9% | 13.7% | ||
| Q2 24 | -41.5% | -16.0% | ||
| Q1 24 | 82.9% | -23.4% |
| Q4 25 | $-1.91 | $-0.11 | ||
| Q3 25 | $-0.01 | $-0.01 | ||
| Q2 25 | $-0.12 | $0.13 | ||
| Q1 25 | $-0.11 | $-0.16 | ||
| Q4 24 | $0.04 | $-0.57 | ||
| Q3 24 | $-0.26 | $0.00 | ||
| Q2 24 | $-0.05 | $-0.01 | ||
| Q1 24 | $0.13 | $-0.01 |
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 | $447.5M |
| Total DebtLower is stronger | $2.7B | $483.8M |
| Stockholders' EquityBook value | $805.5M | $355.7M |
| Total Assets | $4.3B | $2.3B |
| Debt / EquityLower = less leverage | 3.37× | 1.36× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $628.3M | $447.5M | ||
| Q3 25 | $1.2B | $346.3M | ||
| Q2 25 | $62.7M | $308.2M | ||
| Q1 25 | $23.2M | $241.4M | ||
| Q4 24 | $5.6M | $391.2M | ||
| Q3 24 | $25.3M | $51.9M | ||
| Q2 24 | $122.6M | $64.3M | ||
| Q1 24 | $88.7M | $59.3M |
| Q4 25 | $2.7B | $483.8M | ||
| Q3 25 | $1.0B | $508.6M | ||
| Q2 25 | $167.1M | $491.5M | ||
| Q1 25 | — | $502.7M | ||
| Q4 24 | $0 | $511.4M | ||
| Q3 24 | — | $394.4M | ||
| Q2 24 | — | $393.1M | ||
| Q1 24 | — | $398.7M |
| Q4 25 | $805.5M | $355.7M | ||
| Q3 25 | $783.2M | $364.8M | ||
| Q2 25 | $748.9M | $360.9M | ||
| Q1 25 | $734.8M | $344.3M | ||
| Q4 24 | $682.0M | $358.9M | ||
| Q3 24 | $672.0M | $394.1M | ||
| Q2 24 | $690.8M | $383.0M | ||
| Q1 24 | $600.9M | $377.1M |
| Q4 25 | $4.3B | $2.3B | ||
| Q3 25 | $2.8B | $2.2B | ||
| Q2 25 | $1.0B | $1.9B | ||
| Q1 25 | $913.8M | $1.7B | ||
| Q4 24 | $855.4M | $1.7B | ||
| Q3 24 | $775.4M | $917.6M | ||
| Q2 24 | $775.6M | $926.2M | ||
| Q1 24 | $677.1M | $917.0M |
| Q4 25 | 3.37× | 1.36× | ||
| Q3 25 | 1.31× | 1.39× | ||
| Q2 25 | 0.22× | 1.36× | ||
| Q1 25 | — | 1.46× | ||
| Q4 24 | 0.00× | 1.43× | ||
| Q3 24 | — | 1.00× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 1.06× |
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 | $175.9M |
| 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.
| Q4 25 | $-207.9M | $175.9M | ||
| Q3 25 | $-50.1M | $236.0M | ||
| Q2 25 | $-56.2M | $157.9M | ||
| Q1 25 | $-47.2M | $51.9M | ||
| Q4 24 | $-87.5M | $340.7M | ||
| Q3 24 | $-6.5M | $32.0M | ||
| Q2 24 | $-25.4M | $36.7M | ||
| Q1 24 | $-26.6M | $29.8M |
| 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 24 | $-34.5M | — |
| 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 24 | -71.7% | — |
| 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 24 | 16.4% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 216.53× | ||
| Q2 25 | — | 8.22× | ||
| Q1 25 | — | — | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | 3.23× | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.67× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CIFR
Segment breakdown not available.
GSAT
| Services | $67.4M | 94% |
| Products | $4.6M | 6% |
