vs
Side-by-side financial comparison of Cipher Mining Inc. (CIFR) and PETMED EXPRESS INC (PETS). Click either name above to swap in a different company.
Cipher Mining Inc. is the larger business by last-quarter revenue ($59.7M vs $40.7M, roughly 1.5× PETMED EXPRESS INC). PETMED EXPRESS INC runs the higher net margin — -26.0% vs -1229.6%, a 1203.6% gap on every dollar of revenue. On growth, Cipher Mining Inc. posted the faster year-over-year revenue change (41.4% vs -23.3%). PETMED EXPRESS INC produced more free cash flow last quarter ($-9.2M vs $-695.9M). Over the past eight quarters, Cipher Mining Inc.'s revenue compounded faster (11.4% CAGR vs -20.9%).
Cipher Mining, Inc. operates as a Bitcoin mining ecosystem in the United States. The firm is developing a cryptocurrency business.
PetMed Express, Inc., also known as PetMeds, is an online pet pharmacy based in the United States. It is publicly traded and sells prescription and non-prescription pet medication.
CIFR vs PETS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $59.7M | $40.7M |
| Net Profit | $-734.2M | $-10.6M |
| Gross Margin | 59.4% | 23.3% |
| Operating Margin | -503.4% | -25.7% |
| Net Margin | -1229.6% | -26.0% |
| Revenue YoY | 41.4% | -23.3% |
| Net Profit YoY | -4293.1% | -1392.6% |
| EPS (diluted) | $-1.91 | $-0.50 |
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 | $40.7M | ||
| Q3 25 | $71.7M | $44.4M | ||
| Q2 25 | $43.6M | $51.2M | ||
| Q1 25 | $49.0M | $50.8M | ||
| Q4 24 | $42.2M | $52.0M | ||
| Q3 24 | $24.1M | $58.0M | ||
| Q2 24 | $36.8M | $66.2M | ||
| Q1 24 | $48.1M | $65.1M |
| Q4 25 | $-734.2M | $-10.6M | ||
| Q3 25 | $-3.3M | $-8.5M | ||
| Q2 25 | $-45.8M | $-34.2M | ||
| Q1 25 | $-39.0M | $-11.6M | ||
| Q4 24 | $17.5M | $-707.0K | ||
| Q3 24 | $-86.8M | $2.3M | ||
| Q2 24 | $-15.3M | $3.8M | ||
| Q1 24 | $39.9M | $-5.0M |
| Q4 25 | 59.4% | 23.3% | ||
| Q3 25 | 62.7% | 28.0% | ||
| Q2 25 | 64.8% | 28.1% | ||
| Q1 25 | 69.6% | 29.9% | ||
| Q4 24 | 56.9% | 31.0% | ||
| Q3 24 | 37.5% | 32.3% | ||
| Q2 24 | 61.2% | 28.8% | ||
| Q1 24 | 69.2% | 29.3% |
| Q4 25 | -503.4% | -25.7% | ||
| Q3 25 | -52.5% | -18.9% | ||
| Q2 25 | -103.9% | -66.7% | ||
| Q1 25 | -77.8% | -11.9% | ||
| Q4 24 | 40.5% | -0.9% | ||
| Q3 24 | -379.2% | 1.0% | ||
| Q2 24 | -43.9% | 6.6% | ||
| Q1 24 | 97.2% | -5.9% |
| Q4 25 | -1229.6% | -26.0% | ||
| Q3 25 | -4.6% | -19.2% | ||
| Q2 25 | -105.1% | -66.7% | ||
| Q1 25 | -79.6% | -22.9% | ||
| Q4 24 | 41.5% | -1.4% | ||
| Q3 24 | -359.9% | 4.0% | ||
| Q2 24 | -41.5% | 5.7% | ||
| Q1 24 | 82.9% | -7.7% |
| Q4 25 | $-1.91 | $-0.50 | ||
| Q3 25 | $-0.01 | $-0.41 | ||
| Q2 25 | $-0.12 | $-1.65 | ||
| Q1 25 | $-0.11 | $-0.56 | ||
| Q4 24 | $0.04 | $-0.03 | ||
| Q3 24 | $-0.26 | $0.11 | ||
| Q2 24 | $-0.05 | $0.18 | ||
| Q1 24 | $0.13 | $-0.24 |
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 | $26.9M |
| Total DebtLower is stronger | $2.7B | — |
| Stockholders' EquityBook value | $805.5M | $32.8M |
| Total Assets | $4.3B | $88.0M |
| Debt / EquityLower = less leverage | 3.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $628.3M | $26.9M | ||
| Q3 25 | $1.2B | $36.1M | ||
| Q2 25 | $62.7M | $41.1M | ||
| Q1 25 | $23.2M | $54.7M | ||
| Q4 24 | $5.6M | $50.1M | ||
| Q3 24 | $25.3M | $52.0M | ||
| Q2 24 | $122.6M | $46.0M | ||
| Q1 24 | $88.7M | $55.3M |
| 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 | $32.8M | ||
| Q3 25 | $783.2M | $43.1M | ||
| Q2 25 | $748.9M | $51.5M | ||
| Q1 25 | $734.8M | $85.1M | ||
| Q4 24 | $682.0M | $96.2M | ||
| Q3 24 | $672.0M | $96.4M | ||
| Q2 24 | $690.8M | $93.5M | ||
| Q1 24 | $600.9M | $96.7M |
| Q4 25 | $4.3B | $88.0M | ||
| Q3 25 | $2.8B | $100.3M | ||
| Q2 25 | $1.0B | $109.8M | ||
| Q1 25 | $913.8M | $148.7M | ||
| Q4 24 | $855.4M | $144.8M | ||
| Q3 24 | $775.4M | $146.0M | ||
| Q2 24 | $775.6M | $152.7M | ||
| Q1 24 | $677.1M | $169.9M |
| 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 | $-9.2M |
| Free Cash FlowOCF − Capex | $-695.9M | $-9.2M |
| FCF MarginFCF / Revenue | -1165.4% | -22.7% |
| Capex IntensityCapex / Revenue | 817.1% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.1B | $-23.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-207.9M | $-9.2M | ||
| Q3 25 | $-50.1M | $-2.2M | ||
| Q2 25 | $-56.2M | $-12.3M | ||
| Q1 25 | $-47.2M | $7.0M | ||
| Q4 24 | $-87.5M | $-1.2M | ||
| Q3 24 | $-6.5M | $7.4M | ||
| Q2 24 | $-25.4M | $-8.5M | ||
| Q1 24 | $-26.6M | $7.1M |
| Q4 25 | $-695.9M | $-9.2M | ||
| Q3 25 | $-256.2M | $-4.8M | ||
| Q2 25 | $-87.5M | $-13.6M | ||
| Q1 25 | $-71.8M | $4.6M | ||
| Q4 24 | $-227.0M | $-1.9M | ||
| Q3 24 | $-83.2M | $6.1M | ||
| Q2 24 | $-33.2M | $-9.2M | ||
| Q1 24 | $-34.5M | $5.9M |
| Q4 25 | -1165.4% | -22.7% | ||
| Q3 25 | -357.3% | -10.8% | ||
| Q2 25 | -200.9% | -26.5% | ||
| Q1 25 | -146.7% | 9.1% | ||
| Q4 24 | -537.6% | -3.7% | ||
| Q3 24 | -345.0% | 10.6% | ||
| Q2 24 | -90.2% | -13.9% | ||
| Q1 24 | -71.7% | 9.0% |
| Q4 25 | 817.1% | 0.1% | ||
| Q3 25 | 287.5% | 5.9% | ||
| Q2 25 | 71.8% | 2.5% | ||
| Q1 25 | 50.2% | 4.7% | ||
| Q4 24 | 330.4% | 1.5% | ||
| Q3 24 | 317.8% | 2.2% | ||
| Q2 24 | 21.4% | 1.0% | ||
| Q1 24 | 16.4% | 1.9% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -5.00× | — | ||
| Q3 24 | — | 3.18× | ||
| Q2 24 | — | -2.27× | ||
| 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.
PETS
| Reorder | $34.0M | 84% |
| New Order | $5.0M | 12% |
| Membership Fees | $1.6M | 4% |
