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Side-by-side financial comparison of CLEANSPARK, INC. (CLSK) and ONESPAWORLD HOLDINGS Ltd (OSW). Click either name above to swap in a different company.
ONESPAWORLD HOLDINGS Ltd is the larger business by last-quarter revenue ($242.1M vs $181.2M, roughly 1.3× CLEANSPARK, INC.). ONESPAWORLD HOLDINGS Ltd runs the higher net margin — 5.0% vs -209.0%, a 214.0% gap on every dollar of revenue. On growth, CLEANSPARK, INC. posted the faster year-over-year revenue change (11.6% vs 11.5%). ONESPAWORLD HOLDINGS Ltd produced more free cash flow last quarter ($14.9M vs $-198.1M). Over the past eight quarters, CLEANSPARK, INC.'s revenue compounded faster (106.4% CAGR vs 7.1%).
CleanSpark, Inc. is a U.S.-headquartered sustainable technology company operating two core business segments: low-carbon Bitcoin mining powered primarily by renewable and stranded energy resources, and end-to-end microgrid design, deployment, and operation services for commercial, industrial, and public sector clients across North America.
CLSK vs OSW — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $181.2M | $242.1M |
| Net Profit | $-378.7M | $12.1M |
| Gross Margin | 47.2% | — |
| Operating Margin | -174.7% | 6.8% |
| Net Margin | -209.0% | 5.0% |
| Revenue YoY | 11.6% | 11.5% |
| Net Profit YoY | -253.5% | -16.2% |
| EPS (diluted) | — | $0.12 |
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 | $181.2M | $242.1M | ||
| Q3 25 | — | $258.5M | ||
| Q2 25 | — | $240.7M | ||
| Q1 25 | — | $219.6M | ||
| Q4 24 | — | $217.2M | ||
| Q3 24 | $89.3M | $241.7M | ||
| Q2 24 | $104.1M | $224.9M | ||
| Q1 24 | $111.8M | $211.2M |
| Q4 25 | $-378.7M | $12.1M | ||
| Q3 25 | — | $24.3M | ||
| Q2 25 | — | $19.9M | ||
| Q1 25 | — | $15.3M | ||
| Q4 24 | — | $14.4M | ||
| Q3 24 | $-62.2M | $21.6M | ||
| Q2 24 | $-236.2M | $15.8M | ||
| Q1 24 | $126.7M | $21.2M |
| Q4 25 | 47.2% | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 36.0% | — | ||
| Q2 24 | 56.6% | — | ||
| Q1 24 | 69.3% | — |
| Q4 25 | -174.7% | 6.8% | ||
| Q3 25 | — | 10.2% | ||
| Q2 25 | — | 9.2% | ||
| Q1 25 | — | 7.7% | ||
| Q4 24 | — | 7.9% | ||
| Q3 24 | -73.5% | 10.3% | ||
| Q2 24 | -239.2% | 8.4% | ||
| Q1 24 | — | 8.0% |
| Q4 25 | -209.0% | 5.0% | ||
| Q3 25 | — | 9.4% | ||
| Q2 25 | — | 8.3% | ||
| Q1 25 | — | 7.0% | ||
| Q4 24 | — | 6.6% | ||
| Q3 24 | -69.6% | 8.9% | ||
| Q2 24 | -226.9% | 7.0% | ||
| Q1 24 | 113.4% | 10.0% |
| Q4 25 | — | $0.12 | ||
| Q3 25 | — | $0.23 | ||
| Q2 25 | — | $0.19 | ||
| Q1 25 | — | $0.15 | ||
| Q4 24 | — | $0.13 | ||
| Q3 24 | — | $0.20 | ||
| Q2 24 | — | $0.15 | ||
| Q1 24 | — | $0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $458.1M | $16.3M |
| Total DebtLower is stronger | $1.8B | $84.0M |
| Stockholders' EquityBook value | $1.4B | $542.6M |
| Total Assets | $3.3B | $707.1M |
| Debt / EquityLower = less leverage | 1.29× | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $458.1M | $16.3M | ||
| Q3 25 | — | $29.6M | ||
| Q2 25 | — | $35.0M | ||
| Q1 25 | — | $22.6M | ||
| Q4 24 | — | $57.4M | ||
| Q3 24 | $121.2M | $48.8M | ||
| Q2 24 | $126.1M | $62.5M | ||
| Q1 24 | — | $65.4M |
| Q4 25 | $1.8B | $84.0M | ||
| Q3 25 | — | $85.2M | ||
| Q2 25 | — | $96.2M | ||
| Q1 25 | — | $97.4M | ||
| Q4 24 | — | $98.6M | ||
| Q3 24 | $7.2M | $98.7M | ||
| Q2 24 | $1.3M | $123.8M | ||
| Q1 24 | $5.1M | $138.6M |
| Q4 25 | $1.4B | $542.6M | ||
| Q3 25 | — | $552.8M | ||
| Q2 25 | — | $548.3M | ||
| Q1 25 | — | $530.6M | ||
| Q4 24 | — | $554.5M | ||
| Q3 24 | $1.8B | $540.1M | ||
| Q2 24 | $1.4B | $532.7M | ||
| Q1 24 | $1.5B | $515.5M |
| Q4 25 | $3.3B | $707.1M | ||
| Q3 25 | — | $732.6M | ||
| Q2 25 | — | $731.8M | ||
| Q1 25 | — | $708.7M | ||
| Q4 24 | — | $746.4M | ||
| Q3 24 | $2.0B | $734.0M | ||
| Q2 24 | $1.5B | $756.8M | ||
| Q1 24 | $1.5B | $763.6M |
| Q4 25 | 1.29× | 0.15× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.18× | ||
| Q1 25 | — | 0.18× | ||
| Q4 24 | — | 0.18× | ||
| Q3 24 | 0.00× | 0.18× | ||
| Q2 24 | 0.00× | 0.23× | ||
| Q1 24 | 0.00× | 0.27× |
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 | $-161.1M | $20.0M |
| Free Cash FlowOCF − Capex | $-198.1M | $14.9M |
| FCF MarginFCF / Revenue | -109.3% | 6.2% |
| Capex IntensityCapex / Revenue | 20.4% | 2.1% |
| Cash ConversionOCF / Net Profit | — | 1.65× |
| TTM Free Cash FlowTrailing 4 quarters | $-626.9M | $68.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-161.1M | $20.0M | ||
| Q3 25 | — | $33.2M | ||
| Q2 25 | — | $20.3M | ||
| Q1 25 | — | $10.1M | ||
| Q4 24 | — | $16.6M | ||
| Q3 24 | $-233.7M | $28.6M | ||
| Q2 24 | $-58.4M | $18.7M | ||
| Q1 24 | $-44.8M | $15.0M |
| Q4 25 | $-198.1M | $14.9M | ||
| Q3 25 | — | $27.6M | ||
| Q2 25 | — | $17.6M | ||
| Q1 25 | — | $8.4M | ||
| Q4 24 | — | $13.2M | ||
| Q3 24 | $-299.8M | $27.5M | ||
| Q2 24 | $-68.7M | $17.6M | ||
| Q1 24 | $-60.3M | $13.7M |
| Q4 25 | -109.3% | 6.2% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 7.3% | ||
| Q1 25 | — | 3.8% | ||
| Q4 24 | — | 6.1% | ||
| Q3 24 | -335.8% | 11.4% | ||
| Q2 24 | -66.0% | 7.8% | ||
| Q1 24 | -54.0% | 6.5% |
| Q4 25 | 20.4% | 2.1% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | 1.1% | ||
| Q1 25 | — | 0.8% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | 74.0% | 0.5% | ||
| Q2 24 | 9.9% | 0.5% | ||
| Q1 24 | 13.8% | 0.6% |
| Q4 25 | — | 1.65× | ||
| Q3 25 | — | 1.36× | ||
| Q2 25 | — | 1.02× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 1.15× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | — | 1.19× | ||
| Q1 24 | -0.35× | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLSK
Segment breakdown not available.
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
