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Side-by-side financial comparison of Farmland Partners Inc. (FPI) and LENSAR, Inc. (LNSR). Click either name above to swap in a different company.
Farmland Partners Inc. is the larger business by last-quarter revenue ($20.7M vs $14.3M, roughly 1.4× LENSAR, Inc.). Farmland Partners Inc. runs the higher net margin — 103.4% vs -10.2%, a 113.6% gap on every dollar of revenue. On growth, LENSAR, Inc. posted the faster year-over-year revenue change (-3.3% vs -3.5%). Over the past eight quarters, Farmland Partners Inc.'s revenue compounded faster (31.4% CAGR vs 28.8%).
Farmland Industries was the largest agricultural cooperative in North America when it eventually sold all of its assets in 2002–04. During its 74-year history, Farmland served its farmer membership as a diversified, integrated organization, playing a significant role in agricultural markets both domestically and worldwide.
LENSAR, Inc. is a medical technology company specializing in the development and commercialization of advanced ophthalmic surgical systems. Its proprietary augmented reality-enabled devices deliver high precision for cataract surgery and refractive lens exchange procedures, distributed to ophthalmology clinics, surgical centers and hospitals across North America, Europe and key Asia-Pacific markets.
FPI vs LNSR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.7M | $14.3M |
| Net Profit | $21.4M | $-1.5M |
| Gross Margin | — | 36.6% |
| Operating Margin | — | -34.3% |
| Net Margin | 103.4% | -10.2% |
| Revenue YoY | -3.5% | -3.3% |
| Net Profit YoY | -63.5% | 92.2% |
| EPS (diluted) | $0.44 | $-0.09 |
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 | $20.7M | $14.3M | ||
| Q3 25 | $11.3M | $12.8M | ||
| Q2 25 | $10.0M | $12.3M | ||
| Q1 25 | $10.3M | $12.3M | ||
| Q4 24 | $21.5M | $14.8M | ||
| Q3 24 | $13.3M | $11.8M | ||
| Q2 24 | $11.4M | $10.7M | ||
| Q1 24 | $12.0M | $8.6M |
| Q4 25 | $21.4M | $-1.5M | ||
| Q3 25 | $483.0K | $-3.7M | ||
| Q2 25 | $7.6M | $-1.8M | ||
| Q1 25 | $2.0M | $-27.3M | ||
| Q4 24 | $58.7M | $-18.7M | ||
| Q3 24 | $1.8M | $-1.5M | ||
| Q2 24 | $-2.0M | $-9.0M | ||
| Q1 24 | $1.4M | $-2.2M |
| Q4 25 | — | 36.6% | ||
| Q3 25 | — | 35.1% | ||
| Q2 25 | — | 43.8% | ||
| Q1 25 | — | 42.7% | ||
| Q4 24 | — | 35.1% | ||
| Q3 24 | — | 38.4% | ||
| Q2 24 | — | 45.5% | ||
| Q1 24 | — | 43.0% |
| Q4 25 | — | -34.3% | ||
| Q3 25 | 4.3% | -59.4% | ||
| Q2 25 | 78.2% | -51.2% | ||
| Q1 25 | 20.6% | -47.2% | ||
| Q4 24 | — | -8.7% | ||
| Q3 24 | 13.9% | -10.5% | ||
| Q2 24 | -17.9% | -49.4% | ||
| Q1 24 | 11.9% | -33.0% |
| Q4 25 | 103.4% | -10.2% | ||
| Q3 25 | 4.3% | -29.1% | ||
| Q2 25 | 76.3% | -14.4% | ||
| Q1 25 | 19.9% | -222.8% | ||
| Q4 24 | 273.6% | -126.2% | ||
| Q3 24 | 13.5% | -12.7% | ||
| Q2 24 | -17.5% | -84.6% | ||
| Q1 24 | 11.5% | -25.0% |
| Q4 25 | $0.44 | $-0.09 | ||
| Q3 25 | $0.00 | $-0.31 | ||
| Q2 25 | $0.14 | $-0.15 | ||
| Q1 25 | $0.03 | $-2.32 | ||
| Q4 24 | $1.09 | $-1.62 | ||
| Q3 24 | $0.02 | $-0.13 | ||
| Q2 24 | $-0.06 | $-0.79 | ||
| Q1 24 | $0.01 | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $18.0M |
| Total DebtLower is stronger | $161.6M | — |
| Stockholders' EquityBook value | $467.4M | $-26.0M |
| Total Assets | $719.1M | $71.4M |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $18.0M | ||
| Q3 25 | — | $16.9M | ||
| Q2 25 | — | $20.3M | ||
| Q1 25 | — | $25.2M | ||
| Q4 24 | — | $22.5M | ||
| Q3 24 | — | $18.1M | ||
| Q2 24 | — | $14.2M | ||
| Q1 24 | — | $17.9M |
| Q4 25 | $161.6M | — | ||
| Q3 25 | $170.4M | — | ||
| Q2 25 | $193.4M | — | ||
| Q1 25 | $202.6M | — | ||
| Q4 24 | $204.6M | — | ||
| Q3 24 | $394.0M | — | ||
| Q2 24 | $393.0M | — | ||
| Q1 24 | $383.0M | — |
| Q4 25 | $467.4M | $-26.0M | ||
| Q3 25 | $457.3M | $-25.9M | ||
| Q2 25 | $473.5M | $-23.1M | ||
| Q1 25 | $492.2M | $-22.1M | ||
| Q4 24 | $494.6M | $4.9M | ||
| Q3 24 | $519.4M | $22.7M | ||
| Q2 24 | $521.5M | $23.6M | ||
| Q1 24 | $526.7M | $31.8M |
| Q4 25 | $719.1M | $71.4M | ||
| Q3 25 | $738.5M | $70.2M | ||
| Q2 25 | $776.7M | $70.4M | ||
| Q1 25 | $810.5M | $73.0M | ||
| Q4 24 | $869.6M | $66.3M | ||
| Q3 24 | $1.0B | $62.0M | ||
| Q2 24 | $1.0B | $61.4M | ||
| Q1 24 | $1.0B | $66.1M |
| Q4 25 | 0.35× | — | ||
| Q3 25 | 0.37× | — | ||
| Q2 25 | 0.41× | — | ||
| Q1 25 | 0.41× | — | ||
| Q4 24 | 0.41× | — | ||
| Q3 24 | 0.76× | — | ||
| Q2 24 | 0.75× | — | ||
| Q1 24 | 0.73× | — |
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 | $17.4M | $618.0K |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | 0.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.4M | $618.0K | ||
| Q3 25 | $-2.0M | $-3.5M | ||
| Q2 25 | $-2.2M | $-5.0M | ||
| Q1 25 | $6.4M | $-6.9M | ||
| Q4 24 | $16.1M | $3.7M | ||
| Q3 24 | $-4.3M | $3.2M | ||
| Q2 24 | $-6.1M | $-3.8M | ||
| Q1 24 | $11.9M | $-5.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $-5.1M | ||
| Q1 25 | — | $-6.9M | ||
| Q4 24 | — | $3.7M | ||
| Q3 24 | — | $3.1M | ||
| Q2 24 | — | $-3.9M | ||
| Q1 24 | — | $-5.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -41.3% | ||
| Q1 25 | — | -56.6% | ||
| Q4 24 | — | 24.7% | ||
| Q3 24 | — | 26.5% | ||
| Q2 24 | — | -36.4% | ||
| Q1 24 | — | -61.6% |
| Q4 25 | — | 0.0% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.6% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.0% | ||
| Q3 24 | — | 0.2% | ||
| Q2 24 | — | 1.1% | ||
| Q1 24 | — | 0.2% |
| Q4 25 | 0.81× | — | ||
| Q3 25 | -4.04× | — | ||
| Q2 25 | -0.29× | — | ||
| Q1 25 | 3.12× | — | ||
| Q4 24 | 0.27× | — | ||
| Q3 24 | -2.39× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 8.66× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FPI
Segment breakdown not available.
LNSR
| Products | $12.7M | 89% |
| Services | $1.6M | 11% |
