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Side-by-side financial comparison of Farmland Partners Inc. (FPI) and ON24 INC. (ONTF). Click either name above to swap in a different company.
ON24 INC. is the larger business by last-quarter revenue ($34.6M vs $20.7M, roughly 1.7× Farmland Partners Inc.). Farmland Partners Inc. runs the higher net margin — 103.4% vs -18.8%, a 122.2% gap on every dollar of revenue. On growth, Farmland Partners Inc. posted the faster year-over-year revenue change (-3.5% vs -5.6%). Over the past eight quarters, Farmland Partners Inc.'s revenue compounded faster (31.4% CAGR vs -4.2%).
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.
ON24 Inc., a San Francisco-based company, is a cloud-based platform that develops and sells web-based webinar, virtual conferencing, content hub, and landing page applications as a service for marketing and sales teams in B2B organizations. In 2023 it expanded its offerings to include generative AI services.
FPI vs ONTF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.7M | $34.6M |
| Net Profit | $21.4M | $-6.5M |
| Gross Margin | — | 74.9% |
| Operating Margin | — | -23.5% |
| Net Margin | 103.4% | -18.8% |
| Revenue YoY | -3.5% | -5.6% |
| Net Profit YoY | -63.5% | 26.8% |
| EPS (diluted) | $0.44 | $-0.15 |
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 | $34.6M | ||
| Q3 25 | $11.3M | $34.6M | ||
| Q2 25 | $10.0M | $35.3M | ||
| Q1 25 | $10.3M | $34.7M | ||
| Q4 24 | $21.5M | $36.7M | ||
| Q3 24 | $13.3M | $36.3M | ||
| Q2 24 | $11.4M | $37.3M | ||
| Q1 24 | $12.0M | $37.7M |
| Q4 25 | $21.4M | $-6.5M | ||
| Q3 25 | $483.0K | $-6.4M | ||
| Q2 25 | $7.6M | $-7.3M | ||
| Q1 25 | $2.0M | $-8.7M | ||
| Q4 24 | $58.7M | $-8.9M | ||
| Q3 24 | $1.8M | $-11.4M | ||
| Q2 24 | $-2.0M | $-11.2M | ||
| Q1 24 | $1.4M | $-10.7M |
| Q4 25 | — | 74.9% | ||
| Q3 25 | — | 74.7% | ||
| Q2 25 | — | 75.1% | ||
| Q1 25 | — | 73.8% | ||
| Q4 24 | — | 74.5% | ||
| Q3 24 | — | 74.3% | ||
| Q2 24 | — | 74.5% | ||
| Q1 24 | — | 74.1% |
| Q4 25 | — | -23.5% | ||
| Q3 25 | 4.3% | -23.1% | ||
| Q2 25 | 78.2% | -26.0% | ||
| Q1 25 | 20.6% | -30.1% | ||
| Q4 24 | — | -32.1% | ||
| Q3 24 | 13.9% | -36.7% | ||
| Q2 24 | -17.9% | -35.0% | ||
| Q1 24 | 11.9% | -33.1% |
| Q4 25 | 103.4% | -18.8% | ||
| Q3 25 | 4.3% | -18.4% | ||
| Q2 25 | 76.3% | -20.6% | ||
| Q1 25 | 19.9% | -25.1% | ||
| Q4 24 | 273.6% | -24.2% | ||
| Q3 24 | 13.5% | -31.4% | ||
| Q2 24 | -17.5% | -29.9% | ||
| Q1 24 | 11.5% | -28.4% |
| Q4 25 | $0.44 | $-0.15 | ||
| Q3 25 | $0.00 | $-0.15 | ||
| Q2 25 | $0.14 | $-0.17 | ||
| Q1 25 | $0.03 | $-0.21 | ||
| Q4 24 | $1.09 | $-0.21 | ||
| Q3 24 | $0.02 | $-0.27 | ||
| Q2 24 | $-0.06 | $-0.27 | ||
| Q1 24 | $0.01 | $-0.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $37.0M |
| Total DebtLower is stronger | $161.6M | — |
| Stockholders' EquityBook value | $467.4M | $139.4M |
| Total Assets | $719.1M | $228.4M |
| Debt / EquityLower = less leverage | 0.35× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $37.0M | ||
| Q3 25 | — | $47.2M | ||
| Q2 25 | — | $37.7M | ||
| Q1 25 | — | $26.8M | ||
| Q4 24 | — | $14.9M | ||
| Q3 24 | — | $11.0M | ||
| Q2 24 | — | $15.5M | ||
| Q1 24 | — | $18.3M |
| 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 | $139.4M | ||
| Q3 25 | $457.3M | $144.3M | ||
| Q2 25 | $473.5M | $150.0M | ||
| Q1 25 | $492.2M | $153.7M | ||
| Q4 24 | $494.6M | $159.4M | ||
| Q3 24 | $519.4M | $164.9M | ||
| Q2 24 | $521.5M | $170.8M | ||
| Q1 24 | $526.7M | $174.4M |
| Q4 25 | $719.1M | $228.4M | ||
| Q3 25 | $738.5M | $224.8M | ||
| Q2 25 | $776.7M | $235.1M | ||
| Q1 25 | $810.5M | $245.8M | ||
| Q4 24 | $869.6M | $251.0M | ||
| Q3 24 | $1.0B | $250.9M | ||
| Q2 24 | $1.0B | $259.0M | ||
| Q1 24 | $1.0B | $269.2M |
| 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 | $-1.1M |
| Free Cash FlowOCF − Capex | — | $-2.2M |
| FCF MarginFCF / Revenue | — | -6.4% |
| Capex IntensityCapex / Revenue | — | 3.3% |
| Cash ConversionOCF / Net Profit | 0.81× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.4M | $-1.1M | ||
| Q3 25 | $-2.0M | $2.5M | ||
| Q2 25 | $-2.2M | $2.6M | ||
| Q1 25 | $6.4M | $3.4M | ||
| Q4 24 | $16.1M | $985.0K | ||
| Q3 24 | $-4.3M | $295.0K | ||
| Q2 24 | $-6.1M | $1.4M | ||
| Q1 24 | $11.9M | $2.1M |
| Q4 25 | — | $-2.2M | ||
| Q3 25 | — | $2.2M | ||
| Q2 25 | — | $2.1M | ||
| Q1 25 | — | $1.9M | ||
| Q4 24 | — | $424.0K | ||
| Q3 24 | — | $143.0K | ||
| Q2 24 | — | $898.0K | ||
| Q1 24 | — | $1.1M |
| Q4 25 | — | -6.4% | ||
| Q3 25 | — | 6.2% | ||
| Q2 25 | — | 5.9% | ||
| Q1 25 | — | 5.6% | ||
| Q4 24 | — | 1.2% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 2.4% | ||
| Q1 24 | — | 2.9% |
| Q4 25 | — | 3.3% | ||
| Q3 25 | — | 1.1% | ||
| Q2 25 | — | 1.4% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 1.5% | ||
| Q3 24 | — | 0.4% | ||
| Q2 24 | — | 1.3% | ||
| Q1 24 | — | 2.8% |
| 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.
