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Side-by-side financial comparison of Circle Internet Group, Inc. (CRCL) and RXO, Inc. (RXO). Click either name above to swap in a different company.
RXO, Inc. is the larger business by last-quarter revenue ($1.4B vs $739.8M, roughly 1.9× Circle Internet Group, Inc.). Circle Internet Group, Inc. runs the higher net margin — 29.0% vs -2.5%, a 31.5% gap on every dollar of revenue. On growth, Circle Internet Group, Inc. posted the faster year-over-year revenue change (5113.5% vs -0.6%).
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.
RXO, Inc. is a leading transportation and logistics solutions provider headquartered in the United States. Its core service portfolio includes freight brokerage, last-mile delivery for heavy and bulky goods, managed transportation services, and end-to-end supply chain optimization support, primarily catering to clients across the North American manufacturing, retail, and e-commerce segments.
CRCL vs RXO — Head-to-Head
Income Statement — Q3 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $739.8M | $1.4B |
| Net Profit | $214.4M | $-36.0M |
| Gross Margin | — | — |
| Operating Margin | 11.0% | — |
| Net Margin | 29.0% | -2.5% |
| Revenue YoY | 5113.5% | -0.6% |
| Net Profit YoY | 202.0% | -16.1% |
| EPS (diluted) | $0.64 | $-0.21 |
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.
| Q1 26 | — | $1.4B | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | $739.8M | $1.4B | ||
| Q2 25 | $658.1M | $1.4B | ||
| Q1 25 | — | $1.4B | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | $1.0B | ||
| Q2 24 | $6.8M | $930.0M |
| Q1 26 | — | $-36.0M | ||
| Q4 25 | — | $-46.0M | ||
| Q3 25 | $214.4M | $-14.0M | ||
| Q2 25 | $-482.1M | $-9.0M | ||
| Q1 25 | — | $-31.0M | ||
| Q4 24 | — | $-25.0M | ||
| Q3 24 | — | $-243.0M | ||
| Q2 24 | $32.9M | $-7.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -2.9% | ||
| Q3 25 | 11.0% | -0.5% | ||
| Q2 25 | -49.5% | — | ||
| Q1 25 | — | -2.1% | ||
| Q4 24 | — | -1.4% | ||
| Q3 24 | — | -1.9% | ||
| Q2 24 | — | — |
| Q1 26 | — | -2.5% | ||
| Q4 25 | — | -3.1% | ||
| Q3 25 | 29.0% | -1.0% | ||
| Q2 25 | -73.3% | -0.6% | ||
| Q1 25 | — | -2.2% | ||
| Q4 24 | — | -1.5% | ||
| Q3 24 | — | -23.4% | ||
| Q2 24 | 486.5% | -0.8% |
| Q1 26 | — | $-0.21 | ||
| Q4 25 | — | $-0.28 | ||
| Q3 25 | $0.64 | $-0.08 | ||
| Q2 25 | $-4.48 | $-0.05 | ||
| Q1 25 | — | $-0.18 | ||
| Q4 24 | — | $-0.17 | ||
| Q3 24 | — | $-1.81 | ||
| Q2 24 | $0.00 | $-0.06 |
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 | $21.0M |
| Total DebtLower is stronger | — | $17.0M |
| Stockholders' EquityBook value | $3.0B | $1.5B |
| Total Assets | $76.8B | $3.3B |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $21.0M | ||
| Q4 25 | — | $17.0M | ||
| Q3 25 | $1.3B | $25.0M | ||
| Q2 25 | $1.1B | $18.0M | ||
| Q1 25 | — | $16.0M | ||
| Q4 24 | — | $35.0M | ||
| Q3 24 | — | $55.0M | ||
| Q2 24 | $457.5M | $7.0M |
| Q1 26 | — | $17.0M | ||
| Q4 25 | — | $387.0M | ||
| Q3 25 | — | $387.0M | ||
| Q2 25 | — | $387.0M | ||
| Q1 25 | — | $387.0M | ||
| Q4 24 | — | $351.0M | ||
| Q3 24 | — | $352.0M | ||
| Q2 24 | — | $370.0M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | — | $1.5B | ||
| Q3 25 | $3.0B | $1.6B | ||
| Q2 25 | $2.4B | $1.6B | ||
| Q1 25 | — | $1.6B | ||
| Q4 24 | — | $1.6B | ||
| Q3 24 | — | $1.7B | ||
| Q2 24 | $460.9M | $579.0M |
| Q1 26 | — | $3.3B | ||
| Q4 25 | — | $3.3B | ||
| Q3 25 | $76.8B | $3.2B | ||
| Q2 25 | $64.2B | $3.2B | ||
| Q1 25 | — | $3.3B | ||
| Q4 24 | — | $3.4B | ||
| Q3 24 | — | $3.4B | ||
| Q2 24 | — | $1.8B |
| Q1 26 | — | 0.01× | ||
| Q4 25 | — | 0.25× | ||
| Q3 25 | — | 0.24× | ||
| Q2 25 | — | 0.24× | ||
| Q1 25 | — | 0.24× | ||
| Q4 24 | — | 0.22× | ||
| Q3 24 | — | 0.21× | ||
| Q2 24 | — | 0.64× |
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 | $-7.0M |
| Free Cash FlowOCF − Capex | $-14.7M | — |
| FCF MarginFCF / Revenue | -2.0% | — |
| Capex IntensityCapex / Revenue | 0.5% | — |
| Cash ConversionOCF / Net Profit | -0.05× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-7.0M | ||
| Q4 25 | — | $7.0M | ||
| Q3 25 | $-10.7M | $23.0M | ||
| Q2 25 | $303.7M | $23.0M | ||
| Q1 25 | — | $-2.0M | ||
| Q4 24 | — | $-7.0M | ||
| Q3 24 | — | $-7.0M | ||
| Q2 24 | — | $-5.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-9.0M | ||
| Q3 25 | $-14.7M | $9.0M | ||
| Q2 25 | $296.3M | $9.0M | ||
| Q1 25 | — | $-17.0M | ||
| Q4 24 | — | $-19.0M | ||
| Q3 24 | — | $-18.0M | ||
| Q2 24 | — | $-16.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -0.6% | ||
| Q3 25 | -2.0% | 0.6% | ||
| Q2 25 | 45.0% | 0.6% | ||
| Q1 25 | — | -1.2% | ||
| Q4 24 | — | -1.1% | ||
| Q3 24 | — | -1.7% | ||
| Q2 24 | — | -1.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.1% | ||
| Q3 25 | 0.5% | 1.0% | ||
| Q2 25 | 1.1% | 1.0% | ||
| Q1 25 | — | 1.0% | ||
| Q4 24 | — | 0.7% | ||
| Q3 24 | — | 1.1% | ||
| Q2 24 | — | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | -0.05× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRCL
Segment breakdown not available.
RXO
| Truck brokerage | $1.1B | 77% |
| Complementary services (1) | $388.0M | 27% |
