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Side-by-side financial comparison of Core Scientific, Inc. (CORZ) and TELOS CORP (TLS). Click either name above to swap in a different company.
Core Scientific, Inc. is the larger business by last-quarter revenue ($79.8M vs $46.8M, roughly 1.7× TELOS CORP). Core Scientific, Inc. runs the higher net margin — 268.5% vs -34.9%, a 303.4% gap on every dollar of revenue. On growth, TELOS CORP posted the faster year-over-year revenue change (77.4% vs -16.0%). TELOS CORP produced more free cash flow last quarter ($8.0M vs $-450.8M). Over the past eight quarters, TELOS CORP's revenue compounded faster (25.7% 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.
Telos Corporation is an information technology and cybersecurity company located in Ashburn, Virginia. Telos primarily serves government and enterprise clients, receiving a large number of its contracts from the United States Department of Defense. Customers are primarily military, intelligence and civilian agencies of the US government and NATO allies.
CORZ vs TLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $79.8M | $46.8M |
| Net Profit | $214.2M | $-16.3M |
| Gross Margin | 26.0% | 35.0% |
| Operating Margin | -149.5% | -39.6% |
| Net Margin | 268.5% | -34.9% |
| Revenue YoY | -16.0% | 77.4% |
| Net Profit YoY | 180.6% | -74.8% |
| EPS (diluted) | $-1.63 | $-0.22 |
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 | $46.8M | ||
| Q3 25 | $81.1M | $51.4M | ||
| Q2 25 | $78.6M | $36.0M | ||
| Q1 25 | $79.5M | $30.6M | ||
| Q4 24 | $94.9M | $26.4M | ||
| Q3 24 | $95.4M | $23.8M | ||
| Q2 24 | $141.1M | $28.5M | ||
| Q1 24 | $179.3M | $29.6M |
| Q4 25 | $214.2M | $-16.3M | ||
| Q3 25 | $-144.0M | $-2.1M | ||
| Q2 25 | $-936.8M | $-9.5M | ||
| Q1 25 | $576.3M | $-8.6M | ||
| Q4 24 | $-265.5M | $-9.3M | ||
| Q3 24 | $-455.3M | $-28.1M | ||
| Q2 24 | $-902.2M | $-7.8M | ||
| Q1 24 | $210.7M | $-7.4M |
| Q4 25 | 26.0% | 35.0% | ||
| Q3 25 | 4.8% | 39.9% | ||
| Q2 25 | 6.4% | 33.2% | ||
| Q1 25 | 10.3% | 39.8% | ||
| Q4 24 | 5.0% | 40.3% | ||
| Q3 24 | -0.2% | 13.2% | ||
| Q2 24 | 27.5% | 34.1% | ||
| Q1 24 | 43.3% | 37.0% |
| Q4 25 | -149.5% | -39.6% | ||
| Q3 25 | -67.6% | -4.8% | ||
| Q2 25 | -33.4% | -27.5% | ||
| Q1 25 | -59.1% | -29.5% | ||
| Q4 24 | -41.9% | -37.6% | ||
| Q3 24 | -43.2% | -121.4% | ||
| Q2 24 | -64.3% | -30.3% | ||
| Q1 24 | 30.8% | -28.5% |
| Q4 25 | 268.5% | -34.9% | ||
| Q3 25 | -177.6% | -4.1% | ||
| Q2 25 | -1191.4% | -26.5% | ||
| Q1 25 | 724.6% | -28.1% | ||
| Q4 24 | -279.7% | -35.4% | ||
| Q3 24 | -477.4% | -118.0% | ||
| Q2 24 | -639.4% | -27.2% | ||
| Q1 24 | 117.5% | -24.9% |
| Q4 25 | $-1.63 | $-0.22 | ||
| Q3 25 | $-0.45 | $-0.03 | ||
| Q2 25 | $-0.04 | $-0.13 | ||
| Q1 25 | $1.24 | $-0.12 | ||
| Q4 24 | $0.51 | $-0.13 | ||
| Q3 24 | $-1.17 | $-0.39 | ||
| Q2 24 | $-5.05 | $-0.11 | ||
| Q1 24 | $0.78 | $-0.10 |
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 | $53.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-962.7M | $96.0M |
| Total Assets | $2.3B | $139.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $311.4M | $53.2M | ||
| Q3 25 | $453.4M | $59.0M | ||
| Q2 25 | $581.3M | $57.0M | ||
| Q1 25 | $697.9M | $57.8M | ||
| Q4 24 | $836.2M | $54.6M | ||
| Q3 24 | $253.0M | $69.8M | ||
| Q2 24 | $96.1M | $80.1M | ||
| Q1 24 | $98.1M | $93.9M |
| Q4 25 | $-962.7M | $96.0M | ||
| Q3 25 | $-1.3B | $119.7M | ||
| Q2 25 | $-1.2B | $118.4M | ||
| Q1 25 | $-308.8M | $126.1M | ||
| Q4 24 | $-943.0M | $127.1M | ||
| Q3 24 | $-826.7M | $129.5M | ||
| Q2 24 | $-1.2B | $149.1M | ||
| Q1 24 | $-318.5M | $154.4M |
| Q4 25 | $2.3B | $139.9M | ||
| Q3 25 | $2.2B | $164.3M | ||
| Q2 25 | $1.9B | $165.0M | ||
| Q1 25 | $1.5B | $158.1M | ||
| Q4 24 | $1.5B | $158.2M | ||
| Q3 24 | $824.6M | $166.3M | ||
| Q2 24 | $664.2M | $182.4M | ||
| Q1 24 | $814.0M | $195.4M |
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 | $8.0M |
| Free Cash FlowOCF − Capex | $-450.8M | $8.0M |
| FCF MarginFCF / Revenue | -565.1% | 17.0% |
| Capex IntensityCapex / Revenue | 914.0% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.30× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-779.8M | $29.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $278.3M | $8.0M | ||
| Q3 25 | $131.8M | $9.1M | ||
| Q2 25 | $34.0M | $7.0M | ||
| Q1 25 | $-45.0M | $6.1M | ||
| Q4 24 | $42.9M | $-10.5M | ||
| Q3 24 | $5.7M | $-7.1M | ||
| Q2 24 | $1.2M | $-8.0M | ||
| Q1 24 | $22.2M | $-350.0K |
| Q4 25 | $-450.8M | $8.0M | ||
| Q3 25 | $-112.7M | $8.7M | ||
| Q2 25 | $-87.3M | $6.8M | ||
| Q1 25 | $-129.0M | $6.0M | ||
| Q4 24 | $-52.1M | $-12.4M | ||
| Q3 24 | $-25.5M | $-7.1M | ||
| Q2 24 | $-1.9M | $-8.2M | ||
| Q1 24 | $-9.7M | $-447.0K |
| Q4 25 | -565.1% | 17.0% | ||
| Q3 25 | -139.0% | 16.9% | ||
| Q2 25 | -111.0% | 19.0% | ||
| Q1 25 | -162.2% | 19.5% | ||
| Q4 24 | -54.8% | -47.0% | ||
| Q3 24 | -26.7% | -30.0% | ||
| Q2 24 | -1.4% | -28.9% | ||
| Q1 24 | -5.4% | -1.5% |
| Q4 25 | 914.0% | 0.1% | ||
| Q3 25 | 301.5% | 0.9% | ||
| Q2 25 | 154.2% | 0.4% | ||
| Q1 25 | 105.6% | 0.4% | ||
| Q4 24 | 100.0% | 7.1% | ||
| Q3 24 | 32.7% | 0.2% | ||
| Q2 24 | 2.2% | 0.8% | ||
| Q1 24 | 17.8% | 0.3% |
| Q4 25 | 1.30× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
TLS
| Security Solutions Segment | $44.8M | 96% |
| Secure Networks Segment | $1.9M | 4% |
