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Side-by-side financial comparison of Cipher Mining Inc. (CIFR) and iQSTEL Inc (IQST). Click either name above to swap in a different company.
iQSTEL Inc is the larger business by last-quarter revenue ($84.2M vs $59.7M, roughly 1.4× Cipher Mining Inc.). iQSTEL Inc runs the higher net margin — -3.2% vs -1229.6%, a 1226.4% gap on every dollar of revenue. On growth, Cipher Mining Inc. posted the faster year-over-year revenue change (41.4% vs -14.9%). iQSTEL Inc produced more free cash flow last quarter ($-1.2M vs $-695.9M). Over the past eight quarters, iQSTEL Inc's revenue compounded faster (28.0% CAGR vs 11.4%).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
iQSTEL Inc is a technology holding company operating three core segments: telecommunications, Internet of Things (IoT), and fintech. It offers connectivity services, smart IoT monitoring solutions, and digital financial tools, mainly serving small and medium-sized enterprises and retail customers in North and South American markets.
CIFR vs IQST — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $84.2M |
| Net Profit | $-734.2M | $-2.7M |
| Gross Margin | 59.4% | 3.5% |
| Operating Margin | -503.4% | -2.9% |
| Net Margin | -1229.6% | -3.2% |
| Revenue YoY | 41.4% | -14.9% |
| Net Profit YoY | -4293.1% | -44.5% |
| EPS (diluted) | $-1.91 | $-0.92 |
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 | $84.2M | ||
| Q3 25 | $71.7M | $102.9M | ||
| Q2 25 | $43.6M | $72.2M | ||
| Q1 25 | $49.0M | $57.6M | ||
| Q4 24 | $42.2M | $98.9M | ||
| Q3 24 | $24.1M | $54.2M | ||
| Q2 24 | $36.8M | $78.6M | ||
| Q1 24 | $48.1M | $51.4M |
| Q4 25 | $-734.2M | $-2.7M | ||
| Q3 25 | $-3.3M | $-2.3M | ||
| Q2 25 | $-45.8M | $-2.3M | ||
| Q1 25 | $-39.0M | $-1.1M | ||
| Q4 24 | $17.5M | $-1.9M | ||
| Q3 24 | $-86.8M | $-773.0K | ||
| Q2 24 | $-15.3M | $-2.0M | ||
| Q1 24 | $39.9M | $-580.2K |
| Q4 25 | 59.4% | 3.5% | ||
| Q3 25 | 62.7% | 2.7% | ||
| Q2 25 | 64.8% | 2.6% | ||
| Q1 25 | 69.6% | 3.4% | ||
| Q4 24 | 56.9% | 2.7% | ||
| Q3 24 | 37.5% | 3.7% | ||
| Q2 24 | 61.2% | 2.8% | ||
| Q1 24 | 69.2% | 2.7% |
| Q4 25 | -503.4% | -2.9% | ||
| Q3 25 | -52.5% | -0.5% | ||
| Q2 25 | -103.9% | -0.9% | ||
| Q1 25 | -77.8% | -1.0% | ||
| Q4 24 | 40.5% | -0.3% | ||
| Q3 24 | -379.2% | -0.1% | ||
| Q2 24 | -43.9% | -0.4% | ||
| Q1 24 | 97.2% | -0.4% |
| Q4 25 | -1229.6% | -3.2% | ||
| Q3 25 | -4.6% | -2.3% | ||
| Q2 25 | -105.1% | -3.3% | ||
| Q1 25 | -79.6% | -2.0% | ||
| Q4 24 | 41.5% | -1.9% | ||
| Q3 24 | -359.9% | -1.4% | ||
| Q2 24 | -41.5% | -2.5% | ||
| Q1 24 | 82.9% | -1.1% |
| Q4 25 | $-1.91 | $-0.92 | ||
| Q3 25 | $-0.01 | $-0.68 | ||
| Q2 25 | $-0.12 | $-0.82 | ||
| Q1 25 | $-0.11 | $-0.44 | ||
| Q4 24 | $0.04 | $-1.19 | ||
| Q3 24 | $-0.26 | $-0.40 | ||
| Q2 24 | $-0.05 | $-0.90 | ||
| Q1 24 | $0.13 | $-0.37 |
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 | $2.2M |
| Total DebtLower is stronger | $2.7B | $4.1M |
| Stockholders' EquityBook value | $805.5M | $16.3M |
| Total Assets | $4.3B | $51.1M |
| Debt / EquityLower = less leverage | 3.37× | 0.25× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $628.3M | $2.2M | ||
| Q3 25 | $1.2B | $2.3M | ||
| Q2 25 | $62.7M | $2.0M | ||
| Q1 25 | $23.2M | $1.1M | ||
| Q4 24 | $5.6M | $2.5M | ||
| Q3 24 | $25.3M | $2.1M | ||
| Q2 24 | $122.6M | $797.2K | ||
| Q1 24 | $88.7M | $2.7M |
| Q4 25 | $2.7B | $4.1M | ||
| Q3 25 | $1.0B | $2.7M | ||
| Q2 25 | $167.1M | $4.5M | ||
| Q1 25 | — | $3.5M | ||
| Q4 24 | $0 | $2.5M | ||
| Q3 24 | — | $3.2M | ||
| Q2 24 | — | $2.5M | ||
| Q1 24 | — | $194.0K |
| Q4 25 | $805.5M | $16.3M | ||
| Q3 25 | $783.2M | $17.9M | ||
| Q2 25 | $748.9M | $14.3M | ||
| Q1 25 | $734.8M | $11.6M | ||
| Q4 24 | $682.0M | $11.9M | ||
| Q3 24 | $672.0M | $8.1M | ||
| Q2 24 | $690.8M | $7.6M | ||
| Q1 24 | $600.9M | $8.4M |
| Q4 25 | $4.3B | $51.1M | ||
| Q3 25 | $2.8B | $46.9M | ||
| Q2 25 | $1.0B | $51.4M | ||
| Q1 25 | $913.8M | $42.0M | ||
| Q4 24 | $855.4M | $79.0M | ||
| Q3 24 | $775.4M | $32.4M | ||
| Q2 24 | $775.6M | $30.0M | ||
| Q1 24 | $677.1M | $22.1M |
| Q4 25 | 3.37× | 0.25× | ||
| Q3 25 | 1.31× | 0.15× | ||
| Q2 25 | 0.22× | 0.31× | ||
| Q1 25 | — | 0.31× | ||
| Q4 24 | 0.00× | 0.21× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.34× | ||
| Q1 24 | — | 0.02× |
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 | $-1.2M |
| Free Cash FlowOCF − Capex | $-695.9M | $-1.2M |
| FCF MarginFCF / Revenue | -1165.4% | -1.5% |
| Capex IntensityCapex / Revenue | 817.1% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.1B | $-4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-207.9M | $-1.2M | ||
| Q3 25 | $-50.1M | $-953.0K | ||
| Q2 25 | $-56.2M | $257.7K | ||
| Q1 25 | $-47.2M | $-1.9M | ||
| Q4 24 | $-87.5M | $-403.7K | ||
| Q3 24 | $-6.5M | $625.0K | ||
| Q2 24 | $-25.4M | $-2.6M | ||
| Q1 24 | $-26.6M | $-536.9K |
| Q4 25 | $-695.9M | $-1.2M | ||
| Q3 25 | $-256.2M | $-969.2K | ||
| Q2 25 | $-87.5M | $211.7K | ||
| Q1 25 | $-71.8M | $-2.0M | ||
| Q4 24 | $-227.0M | $-421.3K | ||
| Q3 24 | $-83.2M | $594.5K | ||
| Q2 24 | $-33.2M | $-2.6M | ||
| Q1 24 | $-34.5M | $-608.5K |
| Q4 25 | -1165.4% | -1.5% | ||
| Q3 25 | -357.3% | -0.9% | ||
| Q2 25 | -200.9% | 0.3% | ||
| Q1 25 | -146.7% | -3.4% | ||
| Q4 24 | -537.6% | -0.4% | ||
| Q3 24 | -345.0% | 1.1% | ||
| Q2 24 | -90.2% | -3.4% | ||
| Q1 24 | -71.7% | -1.2% |
| Q4 25 | 817.1% | 0.0% | ||
| Q3 25 | 287.5% | 0.0% | ||
| Q2 25 | 71.8% | 0.1% | ||
| Q1 25 | 50.2% | 0.1% | ||
| Q4 24 | 330.4% | 0.0% | ||
| Q3 24 | 317.8% | 0.1% | ||
| Q2 24 | 21.4% | 0.0% | ||
| Q1 24 | 16.4% | 0.1% |
| 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.
IQST
| USA | $53.2M | 63% |
| Other | $29.9M | 35% |
| Switzerland | $1.1M | 1% |
