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Side-by-side financial comparison of CLEANSPARK, INC. (CLSK) and LiveRamp Holdings, Inc. (RAMP). Click either name above to swap in a different company.
LiveRamp Holdings, Inc. is the larger business by last-quarter revenue ($212.2M vs $181.2M, roughly 1.2× CLEANSPARK, INC.). LiveRamp Holdings, Inc. runs the higher net margin — 18.8% vs -209.0%, a 227.8% gap on every dollar of revenue. On growth, CLEANSPARK, INC. posted the faster year-over-year revenue change (11.6% vs 8.6%). Over the past eight quarters, CLEANSPARK, INC.'s revenue compounded faster (106.4% CAGR vs 11.1%).
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.
LiveRamp Holdings, Inc., is an American SaaS company that offers a data connectivity platform whose services include data onboarding, the transfer of offline data online for marketing purposes.
CLSK vs RAMP — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $181.2M | $212.2M |
| Net Profit | $-378.7M | $39.9M |
| Gross Margin | 47.2% | 71.9% |
| Operating Margin | -174.7% | 18.6% |
| Net Margin | -209.0% | 18.8% |
| Revenue YoY | 11.6% | 8.6% |
| Net Profit YoY | -253.5% | 255.7% |
| EPS (diluted) | — | $0.62 |
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 | $212.2M | ||
| Q3 25 | — | $199.8M | ||
| Q2 25 | — | $194.8M | ||
| Q1 25 | — | $188.7M | ||
| Q4 24 | — | $195.4M | ||
| Q3 24 | $89.3M | $185.5M | ||
| Q2 24 | $104.1M | $176.0M | ||
| Q1 24 | $111.8M | $171.9M |
| Q4 25 | $-378.7M | $39.9M | ||
| Q3 25 | — | $27.4M | ||
| Q2 25 | — | $7.7M | ||
| Q1 25 | — | $-6.3M | ||
| Q4 24 | — | $11.2M | ||
| Q3 24 | $-62.2M | $1.7M | ||
| Q2 24 | $-236.2M | $-7.5M | ||
| Q1 24 | $126.7M | $-5.4M |
| Q4 25 | 47.2% | 71.9% | ||
| Q3 25 | — | 70.2% | ||
| Q2 25 | — | 70.1% | ||
| Q1 25 | — | 69.3% | ||
| Q4 24 | — | 71.9% | ||
| Q3 24 | 36.0% | 72.4% | ||
| Q2 24 | 56.6% | 70.6% | ||
| Q1 24 | 69.3% | 72.2% |
| Q4 25 | -174.7% | 18.6% | ||
| Q3 25 | — | 10.7% | ||
| Q2 25 | — | 3.7% | ||
| Q1 25 | — | -6.1% | ||
| Q4 24 | — | 7.5% | ||
| Q3 24 | -73.5% | 4.0% | ||
| Q2 24 | -239.2% | -3.0% | ||
| Q1 24 | — | -8.3% |
| Q4 25 | -209.0% | 18.8% | ||
| Q3 25 | — | 13.7% | ||
| Q2 25 | — | 4.0% | ||
| Q1 25 | — | -3.3% | ||
| Q4 24 | — | 5.7% | ||
| Q3 24 | -69.6% | 0.9% | ||
| Q2 24 | -226.9% | -4.3% | ||
| Q1 24 | 113.4% | -3.1% |
| Q4 25 | — | $0.62 | ||
| Q3 25 | — | $0.42 | ||
| Q2 25 | — | $0.12 | ||
| Q1 25 | — | $-0.10 | ||
| Q4 24 | — | $0.17 | ||
| Q3 24 | — | $0.03 | ||
| Q2 24 | — | $-0.11 | ||
| Q1 24 | — | $-0.09 |
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 | $403.4M |
| Total DebtLower is stronger | $1.8B | — |
| Stockholders' EquityBook value | $1.4B | $962.3M |
| Total Assets | $3.3B | $1.3B |
| Debt / EquityLower = less leverage | 1.29× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $458.1M | $403.4M | ||
| Q3 25 | — | $376.9M | ||
| Q2 25 | — | $371.1M | ||
| Q1 25 | — | $420.8M | ||
| Q4 24 | — | $384.3M | ||
| Q3 24 | $121.2M | $348.4M | ||
| Q2 24 | $126.1M | $342.7M | ||
| Q1 24 | — | $368.9M |
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | $7.2M | — | ||
| Q2 24 | $1.3M | — | ||
| Q1 24 | $5.1M | — |
| Q4 25 | $1.4B | $962.3M | ||
| Q3 25 | — | $943.8M | ||
| Q2 25 | — | $947.8M | ||
| Q1 25 | — | $948.9M | ||
| Q4 24 | — | $957.7M | ||
| Q3 24 | $1.8B | $932.1M | ||
| Q2 24 | $1.4B | $951.9M | ||
| Q1 24 | $1.5B | $949.1M |
| Q4 25 | $3.3B | $1.3B | ||
| Q3 25 | — | $1.2B | ||
| Q2 25 | — | $1.2B | ||
| Q1 25 | — | $1.3B | ||
| Q4 24 | — | $1.3B | ||
| Q3 24 | $2.0B | $1.2B | ||
| Q2 24 | $1.5B | $1.2B | ||
| Q1 24 | $1.5B | $1.2B |
| Q4 25 | 1.29× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.00× | — | ||
| Q2 24 | 0.00× | — | ||
| Q1 24 | 0.00× | — |
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 | — |
| Free Cash FlowOCF − Capex | $-198.1M | — |
| FCF MarginFCF / Revenue | -109.3% | — |
| Capex IntensityCapex / Revenue | 20.4% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-626.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-161.1M | — | ||
| Q3 25 | — | $57.4M | ||
| Q2 25 | — | $-15.8M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $45.1M | ||
| Q3 24 | $-233.7M | $55.6M | ||
| Q2 24 | $-58.4M | $-9.3M | ||
| Q1 24 | $-44.8M | — |
| Q4 25 | $-198.1M | — | ||
| Q3 25 | — | $56.8M | ||
| Q2 25 | — | $-16.2M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $44.8M | ||
| Q3 24 | $-299.8M | $55.4M | ||
| Q2 24 | $-68.7M | $-9.6M | ||
| Q1 24 | $-60.3M | — |
| Q4 25 | -109.3% | — | ||
| Q3 25 | — | 28.4% | ||
| Q2 25 | — | -8.3% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 22.9% | ||
| Q3 24 | -335.8% | 29.8% | ||
| Q2 24 | -66.0% | -5.4% | ||
| Q1 24 | -54.0% | — |
| Q4 25 | 20.4% | 0.1% | ||
| Q3 25 | — | 0.3% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | 74.0% | 0.1% | ||
| Q2 24 | 9.9% | 0.1% | ||
| Q1 24 | 13.8% | 1.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.09× | ||
| Q2 25 | — | -2.04× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.02× | ||
| Q3 24 | — | 32.10× | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.35× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
