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Side-by-side financial comparison of Circle Internet Group, Inc. (CRCL) and Nextpower Inc. (NXT). Click either name above to swap in a different company.
Nextpower Inc. is the larger business by last-quarter revenue ($909.4M vs $739.8M, roughly 1.2× Circle Internet Group, Inc.). Circle Internet Group, Inc. runs the higher net margin — 29.0% vs 14.4%, a 14.5% gap on every dollar of revenue. On growth, Circle Internet Group, Inc. posted the faster year-over-year revenue change (5113.5% vs 33.9%). Nextpower Inc. produced more free cash flow last quarter ($118.5M vs $-14.7M).
Circle is a payments technology company. Funded by Jeremy Allaire and Sean Neville in 2013, it is currently headquartered in New York City and issues two types of stablecoin: USDC, which has a conversion rate pegged to the U.S. dollar, and EURC, which is euro-denominated. It also issues USYC, a tokenized money market fund.
Nextpower Inc. (NXT) is a global energy technology provider based in Fremont, California.
CRCL vs NXT — Head-to-Head
Income Statement — Q3 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $739.8M | $909.4M |
| Net Profit | $214.4M | $131.2M |
| Gross Margin | — | 31.7% |
| Operating Margin | 11.0% | 19.4% |
| Net Margin | 29.0% | 14.4% |
| Revenue YoY | 5113.5% | 33.9% |
| Net Profit YoY | 202.0% | 13.8% |
| EPS (diluted) | $0.64 | $0.85 |
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 | — | $909.4M | ||
| Q3 25 | $739.8M | $905.3M | ||
| Q2 25 | $658.1M | $864.3M | ||
| Q1 25 | — | $924.3M | ||
| Q4 24 | — | $679.4M | ||
| Q3 24 | — | $635.6M | ||
| Q2 24 | $6.8M | $719.9M | ||
| Q1 24 | — | $736.5M |
| Q4 25 | — | $131.2M | ||
| Q3 25 | $214.4M | $146.9M | ||
| Q2 25 | $-482.1M | $157.2M | ||
| Q1 25 | — | $156.8M | ||
| Q4 24 | — | $115.3M | ||
| Q3 24 | — | $115.4M | ||
| Q2 24 | $32.9M | $121.7M | ||
| Q1 24 | — | $205.2M |
| Q4 25 | — | 31.7% | ||
| Q3 25 | — | 32.4% | ||
| Q2 25 | — | 32.6% | ||
| Q1 25 | — | 33.1% | ||
| Q4 24 | — | 35.5% | ||
| Q3 24 | — | 35.4% | ||
| Q2 24 | — | 33.0% | ||
| Q1 24 | — | 46.2% |
| Q4 25 | — | 19.4% | ||
| Q3 25 | 11.0% | 20.0% | ||
| Q2 25 | -49.5% | 21.5% | ||
| Q1 25 | — | 21.1% | ||
| Q4 24 | — | 22.1% | ||
| Q3 24 | — | 21.0% | ||
| Q2 24 | — | 22.2% | ||
| Q1 24 | — | 36.8% |
| Q4 25 | — | 14.4% | ||
| Q3 25 | 29.0% | 16.2% | ||
| Q2 25 | -73.3% | 18.2% | ||
| Q1 25 | — | 17.0% | ||
| Q4 24 | — | 17.0% | ||
| Q3 24 | — | 18.2% | ||
| Q2 24 | 486.5% | 16.9% | ||
| Q1 24 | — | 27.9% |
| Q4 25 | — | $0.85 | ||
| Q3 25 | $0.64 | $0.97 | ||
| Q2 25 | $-4.48 | $1.04 | ||
| Q1 25 | — | $1.05 | ||
| Q4 24 | — | $0.79 | ||
| Q3 24 | — | $0.79 | ||
| Q2 24 | $0.00 | $0.84 | ||
| Q1 24 | — | $1.52 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.3B | $952.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $3.0B | $2.2B |
| Total Assets | $76.8B | $3.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $952.6M | ||
| Q3 25 | $1.3B | $845.3M | ||
| Q2 25 | $1.1B | $743.4M | ||
| Q1 25 | — | $766.1M | ||
| Q4 24 | — | $693.5M | ||
| Q3 24 | — | $561.9M | ||
| Q2 24 | $457.5M | $471.9M | ||
| Q1 24 | — | $474.1M |
| Q4 25 | — | $2.2B | ||
| Q3 25 | $3.0B | $2.0B | ||
| Q2 25 | $2.4B | $1.8B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.4B | ||
| Q3 24 | — | $1.3B | ||
| Q2 24 | $460.9M | $1.1B | ||
| Q1 24 | — | $961.0M |
| Q4 25 | — | $3.8B | ||
| Q3 25 | $76.8B | $3.7B | ||
| Q2 25 | $64.2B | $3.4B | ||
| Q1 25 | — | $3.2B | ||
| Q4 24 | — | $3.0B | ||
| Q3 24 | — | $2.8B | ||
| Q2 24 | — | $2.6B | ||
| Q1 24 | — | $2.5B |
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 | $-10.7M | $123.3M |
| Free Cash FlowOCF − Capex | $-14.7M | $118.5M |
| FCF MarginFCF / Revenue | -2.0% | 13.0% |
| Capex IntensityCapex / Revenue | 0.5% | 0.5% |
| Cash ConversionOCF / Net Profit | -0.05× | 0.94× |
| TTM Free Cash FlowTrailing 4 quarters | — | $587.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $123.3M | ||
| Q3 25 | $-10.7M | $186.9M | ||
| Q2 25 | $303.7M | $81.3M | ||
| Q1 25 | — | $237.3M | ||
| Q4 24 | — | $143.8M | ||
| Q3 24 | — | $153.8M | ||
| Q2 24 | — | $120.8M | ||
| Q1 24 | — | $111.5M |
| Q4 25 | — | $118.5M | ||
| Q3 25 | $-14.7M | $171.4M | ||
| Q2 25 | $296.3M | $70.1M | ||
| Q1 25 | — | $227.2M | ||
| Q4 24 | — | $134.9M | ||
| Q3 24 | — | $141.8M | ||
| Q2 24 | — | $118.0M | ||
| Q1 24 | — | $109.2M |
| Q4 25 | — | 13.0% | ||
| Q3 25 | -2.0% | 18.9% | ||
| Q2 25 | 45.0% | 8.1% | ||
| Q1 25 | — | 24.6% | ||
| Q4 24 | — | 19.9% | ||
| Q3 24 | — | 22.3% | ||
| Q2 24 | — | 16.4% | ||
| Q1 24 | — | 14.8% |
| Q4 25 | — | 0.5% | ||
| Q3 25 | 0.5% | 1.7% | ||
| Q2 25 | 1.1% | 1.3% | ||
| Q1 25 | — | 1.1% | ||
| Q4 24 | — | 1.3% | ||
| Q3 24 | — | 1.9% | ||
| Q2 24 | — | 0.4% | ||
| Q1 24 | — | 0.3% |
| Q4 25 | — | 0.94× | ||
| Q3 25 | -0.05× | 1.27× | ||
| Q2 25 | — | 0.52× | ||
| Q1 25 | — | 1.51× | ||
| Q4 24 | — | 1.25× | ||
| Q3 24 | — | 1.33× | ||
| Q2 24 | — | 0.99× | ||
| Q1 24 | — | 0.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRCL
Segment breakdown not available.
NXT
| Transferred Over Time | $763.9M | 84% |
| Transferred At Point In Time | $145.4M | 16% |
