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Side-by-side financial comparison of CSP INC (CSPI) and NexPoint Real Estate Finance, Inc. (NREF). Click either name above to swap in a different company.
CSP INC is the larger business by last-quarter revenue ($12.0M vs $11.1M, roughly 1.1× NexPoint Real Estate Finance, Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs 0.8%, a 215.9% gap on every dollar of revenue. On growth, CSP INC posted the faster year-over-year revenue change (-23.2% vs -48.8%).
CSP Inc. is a U.S.-based technology firm offering cybersecurity solutions, managed IT services, high-performance computing systems, and IT consulting support. It serves enterprises across healthcare, finance, manufacturing, and public sectors in North America and select global markets.
NexPoint Real Estate Finance, Inc. is a US-based commercial real estate finance firm that offers structured financing solutions for multifamily, office, industrial, and hospitality properties. It focuses on originating, managing and servicing a diversified portfolio of mortgage loans and real estate-related investments to deliver stable risk-adjusted returns to stakeholders.
CSPI vs NREF — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.0M | $11.1M |
| Net Profit | $91.0K | $24.0M |
| Gross Margin | 39.3% | — |
| Operating Margin | -0.9% | — |
| Net Margin | 0.8% | 216.6% |
| Revenue YoY | -23.2% | -48.8% |
| Net Profit YoY | -80.7% | 58.7% |
| EPS (diluted) | $0.01 | $0.47 |
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 | $12.0M | $11.1M | ||
| Q3 25 | $14.5M | $12.5M | ||
| Q2 25 | $15.4M | $12.1M | ||
| Q1 25 | $13.1M | $11.5M | ||
| Q4 24 | $15.7M | $21.7M | ||
| Q3 24 | $13.0M | $12.5M | ||
| Q2 24 | $13.1M | $6.7M | ||
| Q1 24 | $13.7M | $-12.8M |
| Q4 25 | $91.0K | $24.0M | ||
| Q3 25 | $-191.0K | $50.9M | ||
| Q2 25 | $-264.0K | $22.3M | ||
| Q1 25 | $-108.0K | $26.0M | ||
| Q4 24 | $472.0K | $15.2M | ||
| Q3 24 | $-1.7M | $23.3M | ||
| Q2 24 | $-185.0K | $12.1M | ||
| Q1 24 | $1.6M | $-14.6M |
| Q4 25 | 39.3% | — | ||
| Q3 25 | 36.6% | — | ||
| Q2 25 | 28.8% | — | ||
| Q1 25 | 32.0% | — | ||
| Q4 24 | 29.1% | — | ||
| Q3 24 | 28.4% | — | ||
| Q2 24 | 35.0% | — | ||
| Q1 24 | 47.3% | — |
| Q4 25 | -0.9% | — | ||
| Q3 25 | -3.7% | — | ||
| Q2 25 | -7.9% | — | ||
| Q1 25 | -7.6% | — | ||
| Q4 24 | -2.3% | — | ||
| Q3 24 | -15.7% | — | ||
| Q2 24 | -5.5% | — | ||
| Q1 24 | 9.0% | — |
| Q4 25 | 0.8% | 216.6% | ||
| Q3 25 | -1.3% | 407.0% | ||
| Q2 25 | -1.7% | 184.5% | ||
| Q1 25 | -0.8% | 225.6% | ||
| Q4 24 | 3.0% | 69.9% | ||
| Q3 24 | -12.7% | 186.4% | ||
| Q2 24 | -1.4% | 179.7% | ||
| Q1 24 | 11.6% | 114.3% |
| Q4 25 | $0.01 | $0.47 | ||
| Q3 25 | $-0.02 | $1.14 | ||
| Q2 25 | $-0.03 | $0.54 | ||
| Q1 25 | $-0.01 | $0.70 | ||
| Q4 24 | $0.05 | $0.71 | ||
| Q3 24 | $-0.17 | $0.74 | ||
| Q2 24 | $-0.02 | $0.40 | ||
| Q1 24 | $0.16 | $-0.83 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.9M | $31.1M |
| Total DebtLower is stronger | — | $771.2M |
| Stockholders' EquityBook value | $44.8M | $388.0M |
| Total Assets | $69.2M | $5.3B |
| Debt / EquityLower = less leverage | — | 1.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | $31.1M | ||
| Q3 25 | $27.4M | $17.9M | ||
| Q2 25 | $26.3M | $9.1M | ||
| Q1 25 | $29.5M | $19.2M | ||
| Q4 24 | $30.7M | $3.9M | ||
| Q3 24 | $30.6M | $34.7M | ||
| Q2 24 | $28.9M | $4.3M | ||
| Q1 24 | $27.1M | $13.5M |
| Q4 25 | — | $771.2M | ||
| Q3 25 | — | $720.9M | ||
| Q2 25 | — | $815.6M | ||
| Q1 25 | — | $831.5M | ||
| Q4 24 | — | $799.3M | ||
| Q3 24 | — | $815.5M | ||
| Q2 24 | — | $861.0M | ||
| Q1 24 | — | $843.3M |
| Q4 25 | $44.8M | $388.0M | ||
| Q3 25 | $44.6M | $375.4M | ||
| Q2 25 | $47.5M | $348.2M | ||
| Q1 25 | $47.5M | $343.7M | ||
| Q4 24 | $47.5M | $336.5M | ||
| Q3 24 | $47.3M | $335.8M | ||
| Q2 24 | $48.1M | $327.5M | ||
| Q1 24 | $48.2M | $327.1M |
| Q4 25 | $69.2M | $5.3B | ||
| Q3 25 | $71.2M | $5.3B | ||
| Q2 25 | $66.8M | $5.4B | ||
| Q1 25 | $67.1M | $5.4B | ||
| Q4 24 | $67.5M | $5.4B | ||
| Q3 24 | $69.4M | $5.7B | ||
| Q2 24 | $66.8M | $6.6B | ||
| Q1 24 | $64.2M | $7.1B |
| Q4 25 | — | 1.99× | ||
| Q3 25 | — | 1.92× | ||
| Q2 25 | — | 2.34× | ||
| Q1 25 | — | 2.42× | ||
| Q4 24 | — | 2.38× | ||
| Q3 24 | — | 2.43× | ||
| Q2 24 | — | 2.63× | ||
| Q1 24 | — | 2.58× |
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 | $-2.9M | $-4.5M |
| Free Cash FlowOCF − Capex | $-3.0M | — |
| FCF MarginFCF / Revenue | -25.1% | — |
| Capex IntensityCapex / Revenue | 0.9% | — |
| Cash ConversionOCF / Net Profit | -32.04× | -0.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-2.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.9M | $-4.5M | ||
| Q3 25 | $1.9M | $8.1M | ||
| Q2 25 | $-3.3M | $3.3M | ||
| Q1 25 | $1.9M | $16.0M | ||
| Q4 24 | $1.7M | $4.4M | ||
| Q3 24 | $-1.5M | $14.7M | ||
| Q2 24 | $2.4M | $-7.5M | ||
| Q1 24 | $1.7M | $17.7M |
| Q4 25 | $-3.0M | — | ||
| Q3 25 | $1.7M | — | ||
| Q2 25 | $-3.3M | — | ||
| Q1 25 | $1.9M | — | ||
| Q4 24 | $1.7M | — | ||
| Q3 24 | $-1.5M | — | ||
| Q2 24 | $2.4M | — | ||
| Q1 24 | $1.6M | — |
| Q4 25 | -25.1% | — | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | -21.7% | — | ||
| Q1 25 | 14.5% | — | ||
| Q4 24 | 10.8% | — | ||
| Q3 24 | -11.7% | — | ||
| Q2 24 | 17.9% | — | ||
| Q1 24 | 11.9% | — |
| Q4 25 | 0.9% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 0.4% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | 0.3% | — | ||
| Q1 24 | 0.1% | — |
| Q4 25 | -32.04× | -0.19× | ||
| Q3 25 | — | 0.16× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 0.62× | ||
| Q4 24 | 3.69× | 0.29× | ||
| Q3 24 | — | 0.63× | ||
| Q2 24 | — | -0.62× | ||
| Q1 24 | 1.04× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CSPI
| Products | $6.7M | 56% |
| Services | $5.3M | 44% |
NREF
Segment breakdown not available.
