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Side-by-side financial comparison of Forge Global Holdings, Inc. (FRGE) and RxSight, Inc. (RXST). Click either name above to swap in a different company.
RxSight, Inc. is the larger business by last-quarter revenue ($32.6M vs $21.3M, roughly 1.5× Forge Global Holdings, Inc.). RxSight, Inc. runs the higher net margin — -28.1% vs -85.7%, a 57.6% gap on every dollar of revenue. On growth, Forge Global Holdings, Inc. posted the faster year-over-year revenue change (10.6% vs -18.9%). RxSight, Inc. produced more free cash flow last quarter ($-2.3M vs $-11.4M). Over the past eight quarters, Forge Global Holdings, Inc.'s revenue compounded faster (5.6% CAGR vs 5.1%).
Bharat Forge Limited is an Indian multinational company involved in forging, automotives, energy, construction and mining, railways, marine, aerospace and defence industries.
RxSight, Inc. is a medical technology company focused on developing and commercializing innovative intraocular lens solutions for patients undergoing cataract and refractive lens exchange procedures. Its flagship Light Adjustable Lens allows post-surgery power adjustment via a dedicated light delivery device, serving global ophthalmology care markets to improve post-operative visual outcomes for patients.
FRGE vs RXST — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.3M | $32.6M |
| Net Profit | $-18.2M | $-9.2M |
| Gross Margin | 98.6% | 77.5% |
| Operating Margin | -96.7% | -34.8% |
| Net Margin | -85.7% | -28.1% |
| Revenue YoY | 10.6% | -18.9% |
| Net Profit YoY | 0.6% | -54.1% |
| EPS (diluted) | $-1.37 | $-0.22 |
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 | — | $32.6M | ||
| Q3 25 | $21.3M | $30.3M | ||
| Q2 25 | $27.7M | $33.6M | ||
| Q1 25 | $25.3M | $37.9M | ||
| Q4 24 | $18.6M | $40.2M | ||
| Q3 24 | $19.2M | $35.3M | ||
| Q2 24 | $22.3M | $34.9M | ||
| Q1 24 | $19.2M | $29.5M |
| Q4 25 | — | $-9.2M | ||
| Q3 25 | $-18.2M | $-9.8M | ||
| Q2 25 | $-12.6M | $-11.8M | ||
| Q1 25 | $-16.2M | $-8.2M | ||
| Q4 24 | $-15.6M | $-5.9M | ||
| Q3 24 | $-18.3M | $-6.3M | ||
| Q2 24 | $-13.7M | $-6.1M | ||
| Q1 24 | $-18.6M | $-9.1M |
| Q4 25 | — | 77.5% | ||
| Q3 25 | 98.6% | 79.9% | ||
| Q2 25 | 99.4% | 74.9% | ||
| Q1 25 | 99.2% | 74.8% | ||
| Q4 24 | 98.3% | 71.6% | ||
| Q3 24 | 99.6% | 71.4% | ||
| Q2 24 | 98.9% | 69.5% | ||
| Q1 24 | 99.8% | 70.1% |
| Q4 25 | — | -34.8% | ||
| Q3 25 | -96.7% | -40.1% | ||
| Q2 25 | -46.3% | -41.6% | ||
| Q1 25 | -65.1% | -28.2% | ||
| Q4 24 | -100.6% | -21.5% | ||
| Q3 24 | -108.8% | -26.1% | ||
| Q2 24 | -79.2% | -23.9% | ||
| Q1 24 | -130.0% | -36.2% |
| Q4 25 | — | -28.1% | ||
| Q3 25 | -85.7% | -32.4% | ||
| Q2 25 | -45.4% | -35.0% | ||
| Q1 25 | -63.9% | -21.6% | ||
| Q4 24 | -84.2% | -14.8% | ||
| Q3 24 | -95.5% | -17.9% | ||
| Q2 24 | -61.6% | -17.4% | ||
| Q1 24 | -96.8% | -30.8% |
| Q4 25 | — | $-0.22 | ||
| Q3 25 | $-1.37 | $-0.24 | ||
| Q2 25 | $-1.01 | $-0.29 | ||
| Q1 25 | $-1.29 | $-0.20 | ||
| Q4 24 | $3.81 | $-0.14 | ||
| Q3 24 | $-1.49 | $-0.16 | ||
| Q2 24 | $-1.13 | $-0.16 | ||
| Q1 24 | $-1.55 | $-0.25 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $60.7M | $228.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $202.6M | $275.7M |
| Total Assets | $252.0M | $311.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $228.1M | ||
| Q3 25 | $60.7M | $227.5M | ||
| Q2 25 | $80.7M | $227.5M | ||
| Q1 25 | $92.0M | $229.3M | ||
| Q4 24 | $105.1M | $237.2M | ||
| Q3 24 | $114.5M | $237.1M | ||
| Q2 24 | $120.5M | $233.3M | ||
| Q1 24 | $129.6M | $125.4M |
| Q4 25 | — | $275.7M | ||
| Q3 25 | $202.6M | $276.0M | ||
| Q2 25 | $200.5M | $278.0M | ||
| Q1 25 | $213.5M | $279.3M | ||
| Q4 24 | $223.6M | $281.2M | ||
| Q3 24 | $234.5M | $277.3M | ||
| Q2 24 | $245.4M | $275.2M | ||
| Q1 24 | $252.2M | $163.9M |
| Q4 25 | — | $311.8M | ||
| Q3 25 | $252.0M | $308.5M | ||
| Q2 25 | $242.8M | $309.0M | ||
| Q1 25 | $249.5M | $313.0M | ||
| Q4 24 | $263.5M | $318.6M | ||
| Q3 24 | $276.6M | $310.5M | ||
| Q2 24 | $285.7M | $305.5M | ||
| Q1 24 | $298.7M | $183.2M |
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 | $-11.4M | $-1.1M |
| Free Cash FlowOCF − Capex | $-11.4M | $-2.3M |
| FCF MarginFCF / Revenue | -53.6% | -6.9% |
| Capex IntensityCapex / Revenue | 0.2% | 3.5% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-73.5M | $-19.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-1.1M | ||
| Q3 25 | $-11.4M | $-1.2M | ||
| Q2 25 | $-7.8M | $-4.4M | ||
| Q1 25 | $-12.8M | $-8.8M | ||
| Q4 24 | $-40.5M | $-4.3M | ||
| Q3 24 | $-5.8M | $650.0K | ||
| Q2 24 | $-14.4M | $-4.0M | ||
| Q1 24 | $-12.4M | $-9.3M |
| Q4 25 | — | $-2.3M | ||
| Q3 25 | $-11.4M | $-1.8M | ||
| Q2 25 | $-7.9M | $-5.9M | ||
| Q1 25 | $-12.9M | $-9.4M | ||
| Q4 24 | $-41.3M | $-5.1M | ||
| Q3 24 | $-6.0M | $-453.0K | ||
| Q2 24 | $-14.7M | $-5.5M | ||
| Q1 24 | $-12.8M | $-11.3M |
| Q4 25 | — | -6.9% | ||
| Q3 25 | -53.6% | -5.8% | ||
| Q2 25 | -28.4% | -17.6% | ||
| Q1 25 | -50.9% | -24.8% | ||
| Q4 24 | -222.3% | -12.7% | ||
| Q3 24 | -31.0% | -1.3% | ||
| Q2 24 | -66.0% | -15.9% | ||
| Q1 24 | -66.4% | -38.2% |
| Q4 25 | — | 3.5% | ||
| Q3 25 | 0.2% | 1.9% | ||
| Q2 25 | 0.4% | 4.6% | ||
| Q1 25 | 0.2% | 1.5% | ||
| Q4 24 | 4.3% | 2.1% | ||
| Q3 24 | 0.7% | 3.1% | ||
| Q2 24 | 1.2% | 4.4% | ||
| Q1 24 | 2.1% | 6.7% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FRGE
| Marketplace | $12.2M | 57% |
| Custodial Administration Fees | $9.1M | 43% |
RXST
| Rxlal | $28.2M | 86% |
| LDD | $3.0M | 9% |
| Service Warranty Service Contracts And Accessories | $1.5M | 4% |
