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Side-by-side financial comparison of Cipher Mining Inc. (CIFR) and Inogen Inc (INGN). Click either name above to swap in a different company.
Inogen Inc is the larger business by last-quarter revenue ($68.6M vs $59.7M, roughly 1.1× Cipher Mining Inc.). On growth, Cipher Mining Inc. posted the faster year-over-year revenue change (41.4% vs 3.4%). Inogen Inc produced more free cash flow last quarter ($-1.9M vs $-695.9M). Over the past eight quarters, Cipher Mining Inc.'s revenue compounded faster (11.4% CAGR vs 4.2%).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
Inogen Inc is a medical technology firm specializing in the development, production and distribution of portable oxygen concentrators and associated respiratory care products. It caters primarily to patients with chronic respiratory conditions needing long-term oxygen therapy across North America, Europe and other global markets, focusing on home care and ambulatory patient segments to enhance users' quality of life.
CIFR vs INGN — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $68.6M |
| Net Profit | $-734.2M | — |
| Gross Margin | 59.4% | 51.4% |
| Operating Margin | -503.4% | -13.6% |
| Net Margin | -1229.6% | — |
| Revenue YoY | 41.4% | 3.4% |
| Net Profit YoY | -4293.1% | — |
| EPS (diluted) | $-1.91 | $-0.26 |
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 | $68.6M | ||
| Q3 25 | $71.7M | $79.1M | ||
| Q2 25 | $43.6M | $79.2M | ||
| Q1 25 | $49.0M | $68.5M | ||
| Q4 24 | $42.2M | $66.3M | ||
| Q3 24 | $24.1M | $74.9M | ||
| Q2 24 | $36.8M | $74.4M | ||
| Q1 24 | $48.1M | $63.1M |
| Q4 25 | $-734.2M | — | ||
| Q3 25 | $-3.3M | $-5.3M | ||
| Q2 25 | $-45.8M | $-4.2M | ||
| Q1 25 | $-39.0M | $-6.2M | ||
| Q4 24 | $17.5M | — | ||
| Q3 24 | $-86.8M | $-6.0M | ||
| Q2 24 | $-15.3M | $-5.6M | ||
| Q1 24 | $39.9M | $-14.6M |
| Q4 25 | 59.4% | 51.4% | ||
| Q3 25 | 62.7% | 52.2% | ||
| Q2 25 | 64.8% | 52.2% | ||
| Q1 25 | 69.6% | 53.1% | ||
| Q4 24 | 56.9% | 54.7% | ||
| Q3 24 | 37.5% | 55.2% | ||
| Q2 24 | 61.2% | 57.4% | ||
| Q1 24 | 69.2% | 54.5% |
| Q4 25 | -503.4% | -13.6% | ||
| Q3 25 | -52.5% | -9.0% | ||
| Q2 25 | -103.9% | -7.7% | ||
| Q1 25 | -77.8% | -11.2% | ||
| Q4 24 | 40.5% | -17.2% | ||
| Q3 24 | -379.2% | -10.4% | ||
| Q2 24 | -43.9% | -9.5% | ||
| Q1 24 | 97.2% | -25.8% |
| Q4 25 | -1229.6% | — | ||
| Q3 25 | -4.6% | -6.7% | ||
| Q2 25 | -105.1% | -5.2% | ||
| Q1 25 | -79.6% | -9.0% | ||
| Q4 24 | 41.5% | — | ||
| Q3 24 | -359.9% | -8.0% | ||
| Q2 24 | -41.5% | -7.5% | ||
| Q1 24 | 82.9% | -23.1% |
| Q4 25 | $-1.91 | $-0.26 | ||
| Q3 25 | $-0.01 | $-0.20 | ||
| Q2 25 | $-0.12 | $-0.15 | ||
| Q1 25 | $-0.11 | $-0.25 | ||
| Q4 24 | $0.04 | $-0.41 | ||
| Q3 24 | $-0.26 | $-0.25 | ||
| Q2 24 | $-0.05 | $-0.24 | ||
| Q1 24 | $0.13 | $-0.62 |
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 | $103.7M |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $805.5M | $192.2M |
| Total Assets | $4.3B | $298.6M |
| Debt / EquityLower = less leverage | 3.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $628.3M | $103.7M | ||
| Q3 25 | $1.2B | $106.5M | ||
| Q2 25 | $62.7M | $103.7M | ||
| Q1 25 | $23.2M | $118.9M | ||
| Q4 24 | $5.6M | $113.8M | ||
| Q3 24 | $25.3M | $105.7M | ||
| Q2 24 | $122.6M | $97.9M | ||
| Q1 24 | $88.7M | $107.4M |
| Q4 25 | $2.7B | — | ||
| Q3 25 | $1.0B | — | ||
| Q2 25 | $167.1M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $805.5M | $192.2M | ||
| Q3 25 | $783.2M | $197.2M | ||
| Q2 25 | $748.9M | $199.5M | ||
| Q1 25 | $734.8M | $198.0M | ||
| Q4 24 | $682.0M | $173.9M | ||
| Q3 24 | $672.0M | $185.4M | ||
| Q2 24 | $690.8M | $187.6M | ||
| Q1 24 | $600.9M | $191.9M |
| Q4 25 | $4.3B | $298.6M | ||
| Q3 25 | $2.8B | $307.0M | ||
| Q2 25 | $1.0B | $312.0M | ||
| Q1 25 | $913.8M | $308.4M | ||
| Q4 24 | $855.4M | $296.2M | ||
| Q3 24 | $775.4M | $306.2M | ||
| Q2 24 | $775.6M | $308.9M | ||
| Q1 24 | $677.1M | $315.6M |
| Q4 25 | 3.37× | — | ||
| Q3 25 | 1.31× | — | ||
| Q2 25 | 0.22× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-943.0K |
| Free Cash FlowOCF − Capex | $-695.9M | $-1.9M |
| FCF MarginFCF / Revenue | -1165.4% | -2.8% |
| Capex IntensityCapex / Revenue | 817.1% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.1B | $-13.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-207.9M | $-943.0K | ||
| Q3 25 | $-50.1M | $2.2M | ||
| Q2 25 | $-56.2M | $4.3M | ||
| Q1 25 | $-47.2M | $-16.8M | ||
| Q4 24 | $-87.5M | $-3.0M | ||
| Q3 24 | $-6.5M | $7.0M | ||
| Q2 24 | $-25.4M | $6.7M | ||
| Q1 24 | $-26.6M | $-4.7M |
| Q4 25 | $-695.9M | $-1.9M | ||
| Q3 25 | $-256.2M | $1.6M | ||
| Q2 25 | $-87.5M | $3.7M | ||
| Q1 25 | $-71.8M | $-17.1M | ||
| Q4 24 | $-227.0M | $-3.3M | ||
| Q3 24 | $-83.2M | $5.3M | ||
| Q2 24 | $-33.2M | $6.6M | ||
| Q1 24 | $-34.5M | $-6.1M |
| Q4 25 | -1165.4% | -2.8% | ||
| Q3 25 | -357.3% | 2.0% | ||
| Q2 25 | -200.9% | 4.6% | ||
| Q1 25 | -146.7% | -24.9% | ||
| Q4 24 | -537.6% | -5.0% | ||
| Q3 24 | -345.0% | 7.1% | ||
| Q2 24 | -90.2% | 8.9% | ||
| Q1 24 | -71.7% | -9.6% |
| Q4 25 | 817.1% | 1.4% | ||
| Q3 25 | 287.5% | 0.7% | ||
| Q2 25 | 71.8% | 0.9% | ||
| Q1 25 | 50.2% | 0.4% | ||
| Q4 24 | 330.4% | 0.5% | ||
| Q3 24 | 317.8% | 2.2% | ||
| Q2 24 | 21.4% | 0.1% | ||
| Q1 24 | 16.4% | 2.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | — | ||
| 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.
INGN
| Other | $36.1M | 53% |
| Non Us | $32.5M | 47% |
