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Side-by-side financial comparison of Franklin BSP Realty Trust, Inc. (FBRT) and Ouster, Inc. (OUST). Click either name above to swap in a different company.
Franklin BSP Realty Trust, Inc. is the larger business by last-quarter revenue ($81.1M vs $48.6M, roughly 1.7× Ouster, Inc.). Franklin BSP Realty Trust, Inc. runs the higher net margin — 22.7% vs 8.2%, a 14.5% gap on every dollar of revenue. On growth, Ouster, Inc. posted the faster year-over-year revenue change (48.9% vs 25.8%). Over the past eight quarters, Ouster, Inc.'s revenue compounded faster (34.2% CAGR vs 22.6%).
Franklin BSP Realty Trust, Inc. is a publicly traded real estate investment trust (REIT) focused on originating, investing in, and managing a diversified portfolio of commercial real estate debt assets, including first mortgage loans, mezzanine financing and other credit-related real estate products. It operates primarily in the U.S. market, targeting consistent risk-adjusted returns and stable income distributions for investors.
Ouster, Inc. is an American lidar technology company headquartered in San Francisco, California. It builds high-resolution, digital 3D lidar sensors for use in autonomous vehicles, industrial, robotics, drones, mapping, defense, and security systems.
FBRT vs OUST — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $81.1M | $48.6M |
| Net Profit | $18.4M | $4.0M |
| Gross Margin | — | 42.9% |
| Operating Margin | — | 17.6% |
| Net Margin | 22.7% | 8.2% |
| Revenue YoY | 25.8% | 48.9% |
| Net Profit YoY | -39.1% | — |
| EPS (diluted) | $0.13 | $0.06 |
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 | — | $48.6M | ||
| Q4 25 | $81.1M | $62.2M | ||
| Q3 25 | $89.5M | $39.5M | ||
| Q2 25 | $49.3M | $35.0M | ||
| Q1 25 | $50.1M | $32.6M | ||
| Q4 24 | $64.5M | $30.1M | ||
| Q3 24 | $54.0M | $28.1M | ||
| Q2 24 | $50.9M | $27.0M |
| Q1 26 | — | $4.0M | ||
| Q4 25 | $18.4M | — | ||
| Q3 25 | $17.3M | $-21.7M | ||
| Q2 25 | $23.2M | $-20.6M | ||
| Q1 25 | $24.1M | $-22.0M | ||
| Q4 24 | $30.2M | — | ||
| Q3 24 | $31.6M | $-25.6M | ||
| Q2 24 | $-2.2M | $-23.9M |
| Q1 26 | — | 42.9% | ||
| Q4 25 | — | 60.2% | ||
| Q3 25 | — | 42.1% | ||
| Q2 25 | — | 45.2% | ||
| Q1 25 | — | 41.3% | ||
| Q4 24 | — | 43.8% | ||
| Q3 24 | — | 38.3% | ||
| Q2 24 | — | 33.7% |
| Q1 26 | — | 17.6% | ||
| Q4 25 | — | 1.5% | ||
| Q3 25 | — | -61.4% | ||
| Q2 25 | — | -76.5% | ||
| Q1 25 | — | -73.0% | ||
| Q4 24 | — | -85.1% | ||
| Q3 24 | — | -98.0% | ||
| Q2 24 | — | -93.6% |
| Q1 26 | — | 8.2% | ||
| Q4 25 | 22.7% | — | ||
| Q3 25 | 19.3% | -55.0% | ||
| Q2 25 | 47.1% | -58.8% | ||
| Q1 25 | 48.0% | -67.5% | ||
| Q4 24 | 46.8% | — | ||
| Q3 24 | 58.5% | -91.1% | ||
| Q2 24 | -4.3% | -88.4% |
| Q1 26 | — | $0.06 | ||
| Q4 25 | $0.13 | $0.10 | ||
| Q3 25 | $0.12 | $-0.37 | ||
| Q2 25 | $0.19 | $-0.38 | ||
| Q1 25 | $0.20 | $-0.42 | ||
| Q4 24 | $0.28 | $-0.46 | ||
| Q3 24 | $0.30 | $-0.54 | ||
| Q2 24 | $-0.11 | $-0.53 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $167.3M | $173.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $275.6M |
| Total Assets | $6.1B | $381.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $173.1M | ||
| Q4 25 | $167.3M | $208.6M | ||
| Q3 25 | $116.7M | $244.5M | ||
| Q2 25 | $414.1M | $226.5M | ||
| Q1 25 | $215.4M | $168.2M | ||
| Q4 24 | $184.4M | $172.0M | ||
| Q3 24 | $346.2M | $151.4M | ||
| Q2 24 | $94.8M | $184.2M |
| Q1 26 | — | $275.6M | ||
| Q4 25 | $1.4B | $261.7M | ||
| Q3 25 | $1.5B | $247.4M | ||
| Q2 25 | $1.5B | $221.0M | ||
| Q1 25 | $1.5B | $167.9M | ||
| Q4 24 | $1.5B | $180.9M | ||
| Q3 24 | $1.5B | $171.7M | ||
| Q2 24 | $1.5B | $170.6M |
| Q1 26 | — | $381.5M | ||
| Q4 25 | $6.1B | $349.5M | ||
| Q3 25 | $6.2B | $353.8M | ||
| Q2 25 | $5.6B | $321.8M | ||
| Q1 25 | $5.7B | $268.6M | ||
| Q4 24 | $6.0B | $276.1M | ||
| Q3 24 | $6.3B | $255.2M | ||
| Q2 24 | $6.3B | $309.9M |
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 | $291.9M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 15.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $291.9M | $-15.4M | ||
| Q3 25 | $-148.1M | $-18.3M | ||
| Q2 25 | $11.8M | $-1.3M | ||
| Q1 25 | $116.2M | $-4.9M | ||
| Q4 24 | $57.2M | $-2.6M | ||
| Q3 24 | $97.4M | $-3.8M | ||
| Q2 24 | $1.9M | $-21.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $-37.2M | ||
| Q3 25 | — | $-20.0M | ||
| Q2 25 | — | $-2.2M | ||
| Q1 25 | — | $-5.4M | ||
| Q4 24 | — | $-4.0M | ||
| Q3 24 | — | $-4.3M | ||
| Q2 24 | — | $-22.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | -59.8% | ||
| Q3 25 | — | -50.7% | ||
| Q2 25 | — | -6.3% | ||
| Q1 25 | — | -16.6% | ||
| Q4 24 | — | -13.3% | ||
| Q3 24 | — | -15.4% | ||
| Q2 24 | — | -81.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 35.0% | ||
| Q3 25 | — | 4.3% | ||
| Q2 25 | — | 2.5% | ||
| Q1 25 | — | 1.7% | ||
| Q4 24 | — | 4.8% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | 15.88× | — | ||
| Q3 25 | -8.56× | — | ||
| Q2 25 | 0.51× | — | ||
| Q1 25 | 4.83× | — | ||
| Q4 24 | 1.90× | — | ||
| Q3 24 | 3.08× | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FBRT
| New Point Holdings JVLLC | $77.3M | 95% |
| Other | $2.1M | 3% |
| Office Building | $1.7M | 2% |
OUST
| Product revenue | $48.2M | 99% |
| Royalties | $347.0K | 1% |
