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Side-by-side financial comparison of ESTABLISHMENT LABS HOLDINGS INC. (ESTA) and HA Sustainable Infrastructure Capital, Inc. (HASI). Click either name above to swap in a different company.
HA Sustainable Infrastructure Capital, Inc. is the larger business by last-quarter revenue ($114.8M vs $64.6M, roughly 1.8× ESTABLISHMENT LABS HOLDINGS INC.). On growth, ESTABLISHMENT LABS HOLDINGS INC. posted the faster year-over-year revenue change (45.2% vs 13.3%). Over the past eight quarters, ESTABLISHMENT LABS HOLDINGS INC.'s revenue compounded faster (31.9% CAGR vs 4.2%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
HA Sustainable Infrastructure Capital, Inc. (HASI) is a specialized investment firm focused on sustainable infrastructure assets covering renewable energy, energy efficiency, sustainable real estate and low-carbon utility segments. It primarily operates in North American markets, providing long-term capital to eligible sustainable projects and delivering stable risk-adjusted returns to investors through recurring cash flows from operational underlying assets.
ESTA vs HASI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $64.6M | $114.8M |
| Net Profit | — | $-53.8M |
| Gross Margin | 70.5% | — |
| Operating Margin | -6.1% | -57.4% |
| Net Margin | — | -46.8% |
| Revenue YoY | 45.2% | 13.3% |
| Net Profit YoY | — | -176.7% |
| EPS (diluted) | $-0.07 | $-0.38 |
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 | $64.6M | $114.8M | ||
| Q3 25 | $53.8M | $103.1M | ||
| Q2 25 | $51.3M | $85.7M | ||
| Q1 25 | $41.4M | $96.9M | ||
| Q4 24 | $44.5M | $101.3M | ||
| Q3 24 | $40.2M | $82.0M | ||
| Q2 24 | $44.1M | $94.5M | ||
| Q1 24 | $37.2M | $105.8M |
| Q4 25 | — | $-53.8M | ||
| Q3 25 | $-11.1M | $83.3M | ||
| Q2 25 | $-16.6M | $98.4M | ||
| Q1 25 | $-20.7M | $56.6M | ||
| Q4 24 | — | $70.1M | ||
| Q3 24 | $-16.7M | $-19.6M | ||
| Q2 24 | $-17.2M | $26.5M | ||
| Q1 24 | $-16.2M | $123.0M |
| Q4 25 | 70.5% | — | ||
| Q3 25 | 70.1% | — | ||
| Q2 25 | 68.8% | — | ||
| Q1 25 | 67.2% | — | ||
| Q4 24 | 68.5% | — | ||
| Q3 24 | 63.9% | — | ||
| Q2 24 | 65.6% | — | ||
| Q1 24 | 65.6% | — |
| Q4 25 | -6.1% | -57.4% | ||
| Q3 25 | -7.5% | — | ||
| Q2 25 | -27.5% | — | ||
| Q1 25 | -41.0% | 84.7% | ||
| Q4 24 | -41.9% | 90.9% | ||
| Q3 24 | -32.7% | -32.1% | ||
| Q2 24 | -21.2% | 39.5% | ||
| Q1 24 | -23.8% | — |
| Q4 25 | — | -46.8% | ||
| Q3 25 | -20.7% | 80.8% | ||
| Q2 25 | -32.3% | 114.9% | ||
| Q1 25 | -50.1% | 58.4% | ||
| Q4 24 | — | 69.2% | ||
| Q3 24 | -41.5% | -23.9% | ||
| Q2 24 | -38.9% | 28.1% | ||
| Q1 24 | -43.6% | 116.3% |
| Q4 25 | $-0.07 | $-0.38 | ||
| Q3 25 | $-0.38 | $0.61 | ||
| Q2 25 | $-0.57 | $0.74 | ||
| Q1 25 | $-0.70 | $0.44 | ||
| Q4 24 | $-1.21 | $0.58 | ||
| Q3 24 | $-0.59 | $-0.17 | ||
| Q2 24 | $-0.62 | $0.23 | ||
| Q1 24 | $-0.58 | $0.98 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $75.6M | $110.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $23.5M | $2.7B |
| Total Assets | $357.2M | $8.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | $110.2M | ||
| Q3 25 | $70.6M | $301.8M | ||
| Q2 25 | $54.6M | $86.5M | ||
| Q1 25 | $69.2M | $67.4M | ||
| Q4 24 | $90.3M | $129.8M | ||
| Q3 24 | — | $44.1M | ||
| Q2 24 | — | $145.7M | ||
| Q1 24 | — | $61.4M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $23.5M | $2.7B | ||
| Q3 25 | $16.4M | $2.7B | ||
| Q2 25 | $22.8M | $2.6B | ||
| Q1 25 | $38.5M | $2.5B | ||
| Q4 24 | $53.1M | $2.4B | ||
| Q3 24 | $32.7M | $2.3B | ||
| Q2 24 | $45.0M | $2.3B | ||
| Q1 24 | $56.9M | $2.3B |
| Q4 25 | $357.2M | $8.2B | ||
| Q3 25 | $338.9M | $8.2B | ||
| Q2 25 | $329.7M | $7.6B | ||
| Q1 25 | $333.4M | $7.5B | ||
| Q4 24 | $346.8M | $7.1B | ||
| Q3 24 | $282.7M | $6.7B | ||
| Q2 24 | $285.1M | $6.7B | ||
| Q1 24 | $301.8M | $6.7B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| 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 | $-162.0K | $167.3M |
| Free Cash FlowOCF − Capex | $-2.0M | — |
| FCF MarginFCF / Revenue | -3.1% | — |
| Capex IntensityCapex / Revenue | 2.8% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-56.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-162.0K | $167.3M | ||
| Q3 25 | $-11.3M | $-121.8M | ||
| Q2 25 | $-18.8M | $79.6M | ||
| Q1 25 | $-20.7M | $-37.1M | ||
| Q4 24 | $-20.7M | $5.9M | ||
| Q3 24 | $-12.5M | $21.9M | ||
| Q2 24 | $-14.2M | $-24.8M | ||
| Q1 24 | $-11.2M | $20.9M |
| Q4 25 | $-2.0M | — | ||
| Q3 25 | $-13.1M | — | ||
| Q2 25 | $-20.4M | — | ||
| Q1 25 | $-21.5M | — | ||
| Q4 24 | $-21.3M | — | ||
| Q3 24 | $-13.9M | — | ||
| Q2 24 | $-15.0M | — | ||
| Q1 24 | $-14.5M | — |
| Q4 25 | -3.1% | — | ||
| Q3 25 | -24.4% | — | ||
| Q2 25 | -39.7% | — | ||
| Q1 25 | -51.9% | — | ||
| Q4 24 | -47.8% | — | ||
| Q3 24 | -34.6% | — | ||
| Q2 24 | -33.9% | — | ||
| Q1 24 | -38.9% | — |
| Q4 25 | 2.8% | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 1.8% | — | ||
| Q4 24 | 1.2% | — | ||
| Q3 24 | 3.7% | — | ||
| Q2 24 | 1.8% | — | ||
| Q1 24 | 8.9% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | -1.46× | ||
| Q2 25 | — | 0.81× | ||
| Q1 25 | — | -0.66× | ||
| Q4 24 | — | 0.08× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.94× | ||
| Q1 24 | — | 0.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
