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Side-by-side financial comparison of Falcon's Beyond Global, Inc. (FBYD) and Soluna Holdings, Inc (SLNH). Click either name above to swap in a different company.
Soluna Holdings, Inc is the larger business by last-quarter revenue ($8.4M vs $6.6M, roughly 1.3× Falcon's Beyond Global, Inc.). Falcon's Beyond Global, Inc. runs the higher net margin — -4.5% vs -284.7%, a 280.2% gap on every dollar of revenue. On growth, Falcon's Beyond Global, Inc. posted the faster year-over-year revenue change (383.5% vs 11.8%). Falcon's Beyond Global, Inc. produced more free cash flow last quarter ($-4.3M vs $-6.8M). Over the past eight quarters, Falcon's Beyond Global, Inc.'s revenue compounded faster (108.4% CAGR vs -8.8%).
500 Global is an early-stage venture fund and seed accelerator founded in 2010 by Dave McClure and Christine Tsai. The fund admitted a first "class" of twelve startups to its incubator office in Mountain View, California in February 2011. They expanded to a second class of 21 in June 2011 and a third class of 34 in October 2011. 500 Global has $2.3 billion in assets under management (AUM) as of March 2024.
FBYD vs SLNH — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.6M | $8.4M |
| Net Profit | $-296.0K | $-24.0M |
| Gross Margin | — | 9.5% |
| Operating Margin | -30.9% | -92.5% |
| Net Margin | -4.5% | -284.7% |
| Revenue YoY | 383.5% | 11.8% |
| Net Profit YoY | 97.5% | -233.2% |
| EPS (diluted) | $-0.01 | $-1.14 |
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 | $6.6M | — | ||
| Q3 25 | $4.1M | $8.4M | ||
| Q2 25 | $2.5M | $6.2M | ||
| Q1 25 | $1.7M | $5.9M | ||
| Q4 24 | $1.4M | $8.3M | ||
| Q3 24 | $2.1M | $7.5M | ||
| Q2 24 | $1.8M | $9.7M | ||
| Q1 24 | $1.5M | $12.5M |
| Q4 25 | $-296.0K | — | ||
| Q3 25 | $-10.4M | $-24.0M | ||
| Q2 25 | $25.1M | $-7.4M | ||
| Q1 25 | $-8.1M | $-7.6M | ||
| Q4 24 | $-11.9M | $-40.0M | ||
| Q3 24 | $39.3M | $-7.2M | ||
| Q2 24 | $8.0M | $-10.9M | ||
| Q1 24 | $114.0M | $-5.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | 9.5% | ||
| Q2 25 | — | 6.3% | ||
| Q1 25 | — | 5.7% | ||
| Q4 24 | — | -360.8% | ||
| Q3 24 | — | -39.1% | ||
| Q2 24 | — | 34.6% | ||
| Q1 24 | — | 45.4% |
| Q4 25 | -30.9% | — | ||
| Q3 25 | -90.9% | -92.5% | ||
| Q2 25 | -53.0% | -107.6% | ||
| Q1 25 | -371.1% | -120.9% | ||
| Q4 24 | -335.6% | -426.0% | ||
| Q3 24 | -118.9% | -119.8% | ||
| Q2 24 | -195.9% | -38.0% | ||
| Q1 24 | -350.5% | 3.2% |
| Q4 25 | -4.5% | — | ||
| Q3 25 | -256.8% | -284.7% | ||
| Q2 25 | 985.2% | -119.9% | ||
| Q1 25 | -473.8% | -127.3% | ||
| Q4 24 | -871.7% | -483.8% | ||
| Q3 24 | 1899.5% | -95.5% | ||
| Q2 24 | 446.5% | -112.4% | ||
| Q1 24 | 7521.4% | -41.9% |
| Q4 25 | $-0.01 | — | ||
| Q3 25 | $-0.13 | $-1.14 | ||
| Q2 25 | $0.30 | $-0.93 | ||
| Q1 25 | $-0.13 | $-1.21 | ||
| Q4 24 | $-0.25 | $-7.14 | ||
| Q3 24 | $0.39 | $-1.56 | ||
| Q2 24 | $0.00 | $-3.62 | ||
| Q1 24 | $1.27 | $-2.62 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.9M | — |
| Total DebtLower is stronger | $15.6M | $13.3M |
| Stockholders' EquityBook value | $11.9M | $14.5M |
| Total Assets | $66.7M | $152.0M |
| Debt / EquityLower = less leverage | 1.31× | 0.92× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9M | — | ||
| Q3 25 | $4.3M | — | ||
| Q2 25 | $26.1M | — | ||
| Q1 25 | $1.1M | — | ||
| Q4 24 | $825.0K | — | ||
| Q3 24 | $828.0K | — | ||
| Q2 24 | $1.7M | — | ||
| Q1 24 | $1.1M | — |
| Q4 25 | $15.6M | — | ||
| Q3 25 | — | $13.3M | ||
| Q2 25 | — | $10.0M | ||
| Q1 25 | — | $10.2M | ||
| Q4 24 | $41.2M | $7.1M | ||
| Q3 24 | $10.3M | $8.1M | ||
| Q2 24 | $15.7M | $9.0M | ||
| Q1 24 | $15.1M | — |
| Q4 25 | $11.9M | — | ||
| Q3 25 | $9.2M | $14.5M | ||
| Q2 25 | $414.0K | $-19.5M | ||
| Q1 25 | $-11.6M | $-16.1M | ||
| Q4 24 | $-9.0M | $-12.5M | ||
| Q3 24 | $-1.4M | $20.9M | ||
| Q2 24 | $-44.7M | $24.4M | ||
| Q1 24 | $-61.7M | $21.5M |
| Q4 25 | $66.7M | — | ||
| Q3 25 | $66.8M | $152.0M | ||
| Q2 25 | $89.2M | $92.0M | ||
| Q1 25 | $56.7M | $90.0M | ||
| Q4 24 | $61.2M | $88.0M | ||
| Q3 24 | $66.5M | $97.3M | ||
| Q2 24 | $65.9M | $98.7M | ||
| Q1 24 | $67.8M | $90.6M |
| Q4 25 | 1.31× | — | ||
| Q3 25 | — | 0.92× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.39× | ||
| Q2 24 | — | 0.37× | ||
| 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 | $-4.3M | $-2.2M |
| Free Cash FlowOCF − Capex | $-4.3M | $-6.8M |
| FCF MarginFCF / Revenue | -66.0% | -81.4% |
| Capex IntensityCapex / Revenue | 0.3% | 55.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-34.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-4.3M | — | ||
| Q3 25 | $-13.3M | $-2.2M | ||
| Q2 25 | $-7.9M | $-1.1M | ||
| Q1 25 | $945.0K | $-177.0K | ||
| Q4 24 | $-3.8M | $-5.1M | ||
| Q3 24 | $-2.4M | $61.0K | ||
| Q2 24 | $-2.6M | $-7.3M | ||
| Q1 24 | $-3.8M | $3.9M |
| Q4 25 | $-4.3M | — | ||
| Q3 25 | $-13.4M | $-6.8M | ||
| Q2 25 | — | $-9.7M | ||
| Q1 25 | $853.0K | $-4.0M | ||
| Q4 24 | $-3.8M | $-13.9M | ||
| Q3 24 | $-2.4M | $-3.4M | ||
| Q2 24 | $-2.6M | $-7.6M | ||
| Q1 24 | $-3.8M | $3.3M |
| Q4 25 | -66.0% | — | ||
| Q3 25 | -329.6% | -81.4% | ||
| Q2 25 | — | -156.8% | ||
| Q1 25 | 49.9% | -67.1% | ||
| Q4 24 | -278.7% | -168.3% | ||
| Q3 24 | -114.9% | -44.8% | ||
| Q2 24 | -145.6% | -78.2% | ||
| Q1 24 | -248.8% | 26.5% |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 1.0% | 55.2% | ||
| Q2 25 | 0.0% | 139.0% | ||
| Q1 25 | 5.4% | 64.2% | ||
| Q4 24 | 0.1% | 107.0% | ||
| Q3 24 | 0.2% | 45.6% | ||
| Q2 24 | 0.1% | 2.5% | ||
| Q1 24 | 0.3% | 4.2% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.31× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -0.06× | — | ||
| Q2 24 | -0.33× | — | ||
| Q1 24 | -0.03× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FBYD
Segment breakdown not available.
SLNH
| Data Hosting Revenue | $5.3M | 62% |
| Cryptocurrency Mining Revenue | $2.8M | 33% |
| Other | $389.0K | 5% |
