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Side-by-side financial comparison of Forge Global Holdings, Inc. (FRGE) and SuperCom Ltd (SPCB). Click either name above to swap in a different company.
Forge Global Holdings, Inc. is the larger business by last-quarter revenue ($21.3M vs $14.2M, roughly 1.5× SuperCom Ltd). SuperCom Ltd runs the higher net margin — 37.5% vs -85.7%, a 123.2% gap on every dollar of revenue. On growth, Forge Global Holdings, Inc. posted the faster year-over-year revenue change (10.6% vs -1.5%). SuperCom Ltd produced more free cash flow last quarter ($-3.6M vs $-11.4M).
Bharat Forge Limited is an Indian multinational company involved in forging, automotives, energy, construction and mining, railways, marine, aerospace and defence industries.
Super.com is a technology company headquartered in San Francisco and co-founded by Hussein Fazal and Henry Shi. The company provides financial services, including reward programs and travel bookings.
FRGE vs SPCB — Head-to-Head
Income Statement — Q3 FY2025 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $21.3M | $14.2M |
| Net Profit | $-18.2M | $5.3M |
| Gross Margin | 98.6% | 61.2% |
| Operating Margin | -96.7% | 16.3% |
| Net Margin | -85.7% | 37.5% |
| Revenue YoY | 10.6% | -1.5% |
| Net Profit YoY | 0.6% | 79.5% |
| EPS (diluted) | $-1.37 | $1.32 |
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.
| Q3 25 | $21.3M | — | ||
| Q2 25 | $27.7M | $14.2M | ||
| Q1 25 | $25.3M | — | ||
| Q4 24 | $18.6M | — | ||
| Q3 24 | $19.2M | — | ||
| Q2 24 | $22.3M | $14.4M | ||
| Q1 24 | $19.2M | — | ||
| Q4 23 | $19.1M | — |
| Q3 25 | $-18.2M | — | ||
| Q2 25 | $-12.6M | $5.3M | ||
| Q1 25 | $-16.2M | — | ||
| Q4 24 | $-15.6M | — | ||
| Q3 24 | $-18.3M | — | ||
| Q2 24 | $-13.7M | $3.0M | ||
| Q1 24 | $-18.6M | — | ||
| Q4 23 | $-25.8M | — |
| Q3 25 | 98.6% | — | ||
| Q2 25 | 99.4% | 61.2% | ||
| Q1 25 | 99.2% | — | ||
| Q4 24 | 98.3% | — | ||
| Q3 24 | 99.6% | — | ||
| Q2 24 | 98.9% | 52.3% | ||
| Q1 24 | 99.8% | — | ||
| Q4 23 | 99.1% | — |
| Q3 25 | -96.7% | — | ||
| Q2 25 | -46.3% | 16.3% | ||
| Q1 25 | -65.1% | — | ||
| Q4 24 | -100.6% | — | ||
| Q3 24 | -108.8% | — | ||
| Q2 24 | -79.2% | 7.7% | ||
| Q1 24 | -130.0% | — | ||
| Q4 23 | -128.1% | — |
| Q3 25 | -85.7% | — | ||
| Q2 25 | -45.4% | 37.5% | ||
| Q1 25 | -63.9% | — | ||
| Q4 24 | -84.2% | — | ||
| Q3 24 | -95.5% | — | ||
| Q2 24 | -61.6% | 20.6% | ||
| Q1 24 | -96.8% | — | ||
| Q4 23 | -135.3% | — |
| Q3 25 | $-1.37 | — | ||
| Q2 25 | $-1.01 | $1.32 | ||
| Q1 25 | $-1.29 | — | ||
| Q4 24 | $3.81 | — | ||
| Q3 24 | $-1.49 | — | ||
| Q2 24 | $-1.13 | $1.19 | ||
| Q1 24 | $-1.55 | — | ||
| Q4 23 | $-0.15 | — |
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 | $15.0M |
| Total DebtLower is stronger | — | $23.6M |
| Stockholders' EquityBook value | $202.6M | $37.3M |
| Total Assets | $252.0M | $65.5M |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $60.7M | — | ||
| Q2 25 | $80.7M | $15.0M | ||
| Q1 25 | $92.0M | — | ||
| Q4 24 | $105.1M | — | ||
| Q3 24 | $114.5M | — | ||
| Q2 24 | $120.5M | $5.7M | ||
| Q1 24 | $129.6M | — | ||
| Q4 23 | $144.7M | — |
| Q3 25 | — | — | ||
| Q2 25 | — | $23.6M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | $29.2M | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
| Q3 25 | $202.6M | — | ||
| Q2 25 | $200.5M | $37.3M | ||
| Q1 25 | $213.5M | — | ||
| Q4 24 | $223.6M | — | ||
| Q3 24 | $234.5M | — | ||
| Q2 24 | $245.4M | $13.8M | ||
| Q1 24 | $252.2M | — | ||
| Q4 23 | $263.5M | — |
| Q3 25 | $252.0M | — | ||
| Q2 25 | $242.8M | $65.5M | ||
| Q1 25 | $249.5M | — | ||
| Q4 24 | $263.5M | — | ||
| Q3 24 | $276.6M | — | ||
| Q2 24 | $285.7M | $49.6M | ||
| Q1 24 | $298.7M | — | ||
| Q4 23 | $310.7M | — |
| Q3 25 | — | — | ||
| Q2 25 | — | 0.63× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 2.11× | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
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 | $-2.2M |
| Free Cash FlowOCF − Capex | $-11.4M | $-3.6M |
| FCF MarginFCF / Revenue | -53.6% | -25.3% |
| Capex IntensityCapex / Revenue | 0.2% | 10.0% |
| Cash ConversionOCF / Net Profit | — | -0.41× |
| TTM Free Cash FlowTrailing 4 quarters | $-73.5M | $-14.0M |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | $-11.4M | — | ||
| Q2 25 | $-7.8M | $-2.2M | ||
| Q1 25 | $-12.8M | — | ||
| Q4 24 | $-40.5M | — | ||
| Q3 24 | $-5.8M | — | ||
| Q2 24 | $-14.4M | $-950.0K | ||
| Q1 24 | $-12.4M | — | ||
| Q4 23 | $-6.6M | — |
| Q3 25 | $-11.4M | — | ||
| Q2 25 | $-7.9M | $-3.6M | ||
| Q1 25 | $-12.9M | — | ||
| Q4 24 | $-41.3M | — | ||
| Q3 24 | $-6.0M | — | ||
| Q2 24 | $-14.7M | $-1.6M | ||
| Q1 24 | $-12.8M | — | ||
| Q4 23 | $-7.0M | — |
| Q3 25 | -53.6% | — | ||
| Q2 25 | -28.4% | -25.3% | ||
| Q1 25 | -50.9% | — | ||
| Q4 24 | -222.3% | — | ||
| Q3 24 | -31.0% | — | ||
| Q2 24 | -66.0% | -10.8% | ||
| Q1 24 | -66.4% | — | ||
| Q4 23 | -36.7% | — |
| Q3 25 | 0.2% | — | ||
| Q2 25 | 0.4% | 10.0% | ||
| Q1 25 | 0.2% | — | ||
| Q4 24 | 4.3% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | 1.2% | 4.2% | ||
| Q1 24 | 2.1% | — | ||
| Q4 23 | 2.2% | — |
| Q3 25 | — | — | ||
| Q2 25 | — | -0.41× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -0.32× | ||
| Q1 24 | — | — | ||
| Q4 23 | — | — |
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% |
SPCB
Segment breakdown not available.
