vs
Side-by-side financial comparison of Emerald Holding, Inc. (EEX) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
Riot Platforms, Inc. is the larger business by last-quarter revenue ($152.8M vs $132.7M, roughly 1.2× Emerald Holding, Inc.). Emerald Holding, Inc. runs the higher net margin — -22.8% vs -452.0%, a 429.2% gap on every dollar of revenue. On growth, Emerald Holding, Inc. posted the faster year-over-year revenue change (24.3% vs 7.2%). Emerald Holding, Inc. produced more free cash flow last quarter ($11.7M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs -0.3%).
TVS Emerald Haven Realty Limited is an Indian real estate development company headquartered in Chennai, Tamil Nadu. A subsidiary of TVS Holdings, it specializes in sustainable residential communities and urban development projects.
Riot Platforms, Inc. is a leading U.S.-based enterprise focused on Bitcoin mining, operating multiple large-scale, energy-efficient data centers across North America. It also invests in blockchain infrastructure development and holds Bitcoin as a core long-term reserve asset, centering its business strategy around the digital asset ecosystem.
EEX vs RIOT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $132.7M | $152.8M |
| Net Profit | $-30.2M | $-690.7M |
| Gross Margin | — | — |
| Operating Margin | -11.8% | -447.9% |
| Net Margin | -22.8% | -452.0% |
| Revenue YoY | 24.3% | 7.2% |
| Net Profit YoY | -692.2% | -606.3% |
| EPS (diluted) | $-0.15 | $-1.89 |
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 | $132.7M | $152.8M | ||
| Q3 25 | $77.5M | $180.2M | ||
| Q2 25 | $105.5M | $153.0M | ||
| Q1 25 | $147.7M | $161.4M | ||
| Q4 24 | $106.8M | $142.6M | ||
| Q3 24 | $72.6M | $84.8M | ||
| Q2 24 | $86.0M | $70.0M | ||
| Q1 24 | $133.4M | $79.3M |
| Q4 25 | $-30.2M | $-690.7M | ||
| Q3 25 | $-14.4M | $104.5M | ||
| Q2 25 | $-1.4M | $219.5M | ||
| Q1 25 | $15.3M | $-296.4M | ||
| Q4 24 | $5.1M | $136.4M | ||
| Q3 24 | $-11.1M | $-154.4M | ||
| Q2 24 | $-2.8M | $-84.4M | ||
| Q1 24 | $11.0M | $211.8M |
| Q4 25 | -11.8% | -447.9% | ||
| Q3 25 | -10.1% | 44.4% | ||
| Q2 25 | 9.7% | — | ||
| Q1 25 | 24.2% | -144.9% | ||
| Q4 24 | 19.5% | — | ||
| Q3 24 | -6.5% | -143.3% | ||
| Q2 24 | 7.4% | -167.2% | ||
| Q1 24 | 18.2% | — |
| Q4 25 | -22.8% | -452.0% | ||
| Q3 25 | -18.6% | 58.0% | ||
| Q2 25 | -1.3% | 143.4% | ||
| Q1 25 | 10.4% | -183.6% | ||
| Q4 24 | 4.8% | 95.7% | ||
| Q3 24 | -15.3% | -182.1% | ||
| Q2 24 | -3.3% | -120.6% | ||
| Q1 24 | 8.2% | 267.1% |
| Q4 25 | $-0.15 | $-1.89 | ||
| Q3 25 | $-0.07 | $0.26 | ||
| Q2 25 | $-0.01 | $0.58 | ||
| Q1 25 | $0.08 | $-0.90 | ||
| Q4 24 | $0.01 | $0.39 | ||
| Q3 24 | $-0.05 | $-0.54 | ||
| Q2 24 | $-0.03 | $-0.32 | ||
| Q1 24 | $0.00 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $100.9M | $233.5M |
| Total DebtLower is stronger | — | $840.8M |
| Stockholders' EquityBook value | $338.8M | $2.9B |
| Total Assets | $1.2B | $3.9B |
| Debt / EquityLower = less leverage | — | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $100.9M | $233.5M | ||
| Q3 25 | $95.4M | $330.7M | ||
| Q2 25 | $156.4M | $255.4M | ||
| Q1 25 | $276.8M | $163.7M | ||
| Q4 24 | $194.8M | $277.9M | ||
| Q3 24 | $188.9M | $355.7M | ||
| Q2 24 | $193.2M | $481.2M | ||
| Q1 24 | $186.8M | $688.5M |
| Q4 25 | — | $840.8M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | — | $584.6M | ||
| Q3 24 | — | $5.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $338.8M | $2.9B | ||
| Q3 25 | $369.5M | $3.5B | ||
| Q2 25 | $389.4M | $3.3B | ||
| Q1 25 | $392.1M | $2.9B | ||
| Q4 24 | $385.9M | $3.1B | ||
| Q3 24 | $391.1M | $2.7B | ||
| Q2 24 | $407.6M | $2.6B | ||
| Q1 24 | $-90.7M | $2.5B |
| Q4 25 | $1.2B | $3.9B | ||
| Q3 25 | $1.2B | $4.5B | ||
| Q2 25 | $1.2B | $4.3B | ||
| Q1 25 | $1.2B | $3.7B | ||
| Q4 24 | $1.0B | $3.9B | ||
| Q3 24 | $1.1B | $2.9B | ||
| Q2 24 | $1.1B | $2.7B | ||
| Q1 24 | $1.1B | $2.6B |
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | 0.00× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $12.3M | $-572.9M |
| Free Cash FlowOCF − Capex | $11.7M | $-774.3M |
| FCF MarginFCF / Revenue | 8.8% | -506.6% |
| Capex IntensityCapex / Revenue | 0.5% | 131.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $41.4M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.3M | $-572.9M | ||
| Q3 25 | $1.8M | $-114.0M | ||
| Q2 25 | $15.9M | $-231.3M | ||
| Q1 25 | $12.6M | $-122.1M | ||
| Q4 24 | $20.6M | $-255.1M | ||
| Q3 24 | $9.1M | $-56.3M | ||
| Q2 24 | $9.8M | $-42.5M | ||
| Q1 24 | $7.3M | $-57.9M |
| Q4 25 | $11.7M | $-774.3M | ||
| Q3 25 | $1.5M | $-139.7M | ||
| Q2 25 | $15.8M | $-291.7M | ||
| Q1 25 | $12.4M | $-154.9M | ||
| Q4 24 | $19.9M | $-495.4M | ||
| Q3 24 | $9.0M | $-127.6M | ||
| Q2 24 | $9.6M | $-96.1M | ||
| Q1 24 | $7.0M | $-115.2M |
| Q4 25 | 8.8% | -506.6% | ||
| Q3 25 | 1.9% | -77.5% | ||
| Q2 25 | 15.0% | -190.7% | ||
| Q1 25 | 8.4% | -96.0% | ||
| Q4 24 | 18.6% | -347.5% | ||
| Q3 24 | 12.4% | -150.5% | ||
| Q2 24 | 11.2% | -137.2% | ||
| Q1 24 | 5.2% | -145.2% |
| Q4 25 | 0.5% | 131.8% | ||
| Q3 25 | 0.4% | 14.3% | ||
| Q2 25 | 0.1% | 39.5% | ||
| Q1 25 | 0.1% | 20.4% | ||
| Q4 24 | 0.7% | 168.6% | ||
| Q3 24 | 0.1% | 84.1% | ||
| Q2 24 | 0.2% | 76.5% | ||
| Q1 24 | 0.2% | 72.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | -1.09× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | 0.82× | — | ||
| Q4 24 | 4.04× | -1.87× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.66× | -0.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
EEX
| Connections Segment | $121.9M | 92% |
| Commerce Segment | $5.5M | 4% |
| Content | $5.3M | 4% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
