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Side-by-side financial comparison of Core Scientific, Inc. (CORZ) and FORRESTER RESEARCH, INC. (FORR). Click either name above to swap in a different company.
FORRESTER RESEARCH, INC. is the larger business by last-quarter revenue ($101.1M vs $79.8M, roughly 1.3× Core Scientific, Inc.). Core Scientific, Inc. runs the higher net margin — 268.5% vs -33.5%, a 302.0% gap on every dollar of revenue. On growth, FORRESTER RESEARCH, INC. posted the faster year-over-year revenue change (-6.5% vs -16.0%). FORRESTER RESEARCH, INC. produced more free cash flow last quarter ($-4.3M vs $-450.8M). Over the past eight quarters, FORRESTER RESEARCH, INC.'s revenue compounded faster (0.5% CAGR vs -33.3%).
Core Scientific is a leading digital asset and high-performance computing infrastructure provider. It operates large energy-efficient data centers across North America, offering cryptocurrency mining services, colocation hosting for blockchain and AI clients, and custom high-performance computing solutions for enterprise tech segments.
Forrester Research, Inc. is a research and advisory firm working in research, consulting and events. Forrester’s clients include large global business, technology and consumer enterprises. The firm is headquartered in Cambridge, MA.
CORZ vs FORR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $79.8M | $101.1M |
| Net Profit | $214.2M | $-33.9M |
| Gross Margin | 26.0% | 56.7% |
| Operating Margin | -149.5% | -36.6% |
| Net Margin | 268.5% | -33.5% |
| Revenue YoY | -16.0% | -6.5% |
| Net Profit YoY | 180.6% | -7941.4% |
| EPS (diluted) | $-1.63 | $-1.75 |
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 | $79.8M | $101.1M | ||
| Q3 25 | $81.1M | $94.3M | ||
| Q2 25 | $78.6M | $111.7M | ||
| Q1 25 | $79.5M | $89.9M | ||
| Q4 24 | $94.9M | $108.0M | ||
| Q3 24 | $95.4M | $102.5M | ||
| Q2 24 | $141.1M | $121.8M | ||
| Q1 24 | $179.3M | $100.1M |
| Q4 25 | $214.2M | $-33.9M | ||
| Q3 25 | $-144.0M | $-2.1M | ||
| Q2 25 | $-936.8M | $3.9M | ||
| Q1 25 | $576.3M | $-87.3M | ||
| Q4 24 | $-265.5M | $432.0K | ||
| Q3 24 | $-455.3M | $-5.8M | ||
| Q2 24 | $-902.2M | $6.3M | ||
| Q1 24 | $210.7M | $-6.7M |
| Q4 25 | 26.0% | 56.7% | ||
| Q3 25 | 4.8% | 60.0% | ||
| Q2 25 | 6.4% | 55.5% | ||
| Q1 25 | 10.3% | 55.9% | ||
| Q4 24 | 5.0% | 58.8% | ||
| Q3 24 | -0.2% | 60.5% | ||
| Q2 24 | 27.5% | 57.3% | ||
| Q1 24 | 43.3% | 54.9% |
| Q4 25 | -149.5% | -36.6% | ||
| Q3 25 | -67.6% | 4.7% | ||
| Q2 25 | -33.4% | 6.2% | ||
| Q1 25 | -59.1% | -97.5% | ||
| Q4 24 | -41.9% | -0.5% | ||
| Q3 24 | -43.2% | -0.7% | ||
| Q2 24 | -64.3% | 9.3% | ||
| Q1 24 | 30.8% | -9.3% |
| Q4 25 | 268.5% | -33.5% | ||
| Q3 25 | -177.6% | -2.3% | ||
| Q2 25 | -1191.4% | 3.5% | ||
| Q1 25 | 724.6% | -97.1% | ||
| Q4 24 | -279.7% | 0.4% | ||
| Q3 24 | -477.4% | -5.7% | ||
| Q2 24 | -639.4% | 5.2% | ||
| Q1 24 | 117.5% | -6.7% |
| Q4 25 | $-1.63 | $-1.75 | ||
| Q3 25 | $-0.45 | $-0.11 | ||
| Q2 25 | $-0.04 | $0.20 | ||
| Q1 25 | $1.24 | $-4.62 | ||
| Q4 24 | $0.51 | $0.02 | ||
| Q3 24 | $-1.17 | $-0.30 | ||
| Q2 24 | $-5.05 | $0.33 | ||
| Q1 24 | $0.78 | $-0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $311.4M | $63.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-962.7M | $126.5M |
| Total Assets | $2.3B | $404.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $311.4M | $63.3M | ||
| Q3 25 | $453.4M | $65.1M | ||
| Q2 25 | $581.3M | $67.8M | ||
| Q1 25 | $697.9M | $75.6M | ||
| Q4 24 | $836.2M | $56.1M | ||
| Q3 24 | $253.0M | $62.8M | ||
| Q2 24 | $96.1M | $58.9M | ||
| Q1 24 | $98.1M | $61.4M |
| Q4 25 | $-962.7M | $126.5M | ||
| Q3 25 | $-1.3B | $157.7M | ||
| Q2 25 | $-1.2B | $159.5M | ||
| Q1 25 | $-308.8M | $147.4M | ||
| Q4 24 | $-943.0M | $229.5M | ||
| Q3 24 | $-826.7M | $234.3M | ||
| Q2 24 | $-1.2B | $237.1M | ||
| Q1 24 | $-318.5M | $230.9M |
| Q4 25 | $2.3B | $404.0M | ||
| Q3 25 | $2.2B | $414.2M | ||
| Q2 25 | $1.9B | $436.0M | ||
| Q1 25 | $1.5B | $439.8M | ||
| Q4 24 | $1.5B | $503.9M | ||
| Q3 24 | $824.6M | $505.3M | ||
| Q2 24 | $664.2M | $524.2M | ||
| Q1 24 | $814.0M | $555.7M |
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 | $278.3M | $-3.2M |
| Free Cash FlowOCF − Capex | $-450.8M | $-4.3M |
| FCF MarginFCF / Revenue | -565.1% | -4.2% |
| Capex IntensityCapex / Revenue | 914.0% | 1.1% |
| Cash ConversionOCF / Net Profit | 1.30× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-779.8M | $18.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $278.3M | $-3.2M | ||
| Q3 25 | $131.8M | $1.2M | ||
| Q2 25 | $34.0M | $-3.6M | ||
| Q1 25 | $-45.0M | $26.7M | ||
| Q4 24 | $42.9M | $-1.8M | ||
| Q3 24 | $5.7M | $264.0K | ||
| Q2 24 | $1.2M | $-2.9M | ||
| Q1 24 | $22.2M | $611.0K |
| Q4 25 | $-450.8M | $-4.3M | ||
| Q3 25 | $-112.7M | $524.0K | ||
| Q2 25 | $-87.3M | $-4.2M | ||
| Q1 25 | $-129.0M | $26.1M | ||
| Q4 24 | $-52.1M | $-2.5M | ||
| Q3 24 | $-25.5M | $-223.0K | ||
| Q2 24 | $-1.9M | $-3.7M | ||
| Q1 24 | $-9.7M | $-815.0K |
| Q4 25 | -565.1% | -4.2% | ||
| Q3 25 | -139.0% | 0.6% | ||
| Q2 25 | -111.0% | -3.8% | ||
| Q1 25 | -162.2% | 29.0% | ||
| Q4 24 | -54.8% | -2.3% | ||
| Q3 24 | -26.7% | -0.2% | ||
| Q2 24 | -1.4% | -3.1% | ||
| Q1 24 | -5.4% | -0.8% |
| Q4 25 | 914.0% | 1.1% | ||
| Q3 25 | 301.5% | 0.7% | ||
| Q2 25 | 154.2% | 0.5% | ||
| Q1 25 | 105.6% | 0.7% | ||
| Q4 24 | 100.0% | 0.6% | ||
| Q3 24 | 32.7% | 0.5% | ||
| Q2 24 | 2.2% | 0.7% | ||
| Q1 24 | 17.8% | 1.4% |
| Q4 25 | 1.30× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.93× | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | -4.24× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.46× | ||
| Q1 24 | 0.11× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CORZ
| Other | $36.3M | 46% |
| Digital Asset Self Mining Service | $31.8M | 40% |
| Colocation Service | $11.6M | 15% |
FORR
| Research Segment | $82.2M | 81% |
| Consulting Segment | $16.2M | 16% |
| Billable Expenses | $1.5M | 2% |
| Professional Services | $1.4M | 1% |
