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Side-by-side financial comparison of Fastly, Inc. (FSLY) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Natural Grocers by Vitamin Cottage, Inc. is the larger business by last-quarter revenue ($335.6M vs $172.6M, roughly 1.9× Fastly, Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs -9.0%, a 12.4% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (22.8% vs 1.6%). Fastly, Inc. produced more free cash flow last quarter ($12.2M vs $11.6M). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (13.7% CAGR vs 4.4%).
Fastly, Inc. is an American company based in San Francisco, which describes itself as a cloud computing company. Fastly provides content delivery network services, image optimization, and load balancing services. Fastly's cloud security services include denial-of-service attack protection, bot mitigation, and a web application firewall.
Natural Grocers by Vitamin Cottage, Inc. is a U.S.-based specialty retail chain that offers certified organic groceries, dietary supplements, natural personal care items, and eco-friendly household products. It serves health-conscious consumers across multiple U.S. states, following strict quality standards that exclude artificial preservatives, colors, flavors and harmful additives.
FSLY vs NGVC — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $172.6M | $335.6M |
| Net Profit | $-15.5M | $11.3M |
| Gross Margin | 61.4% | 29.5% |
| Operating Margin | -8.7% | 4.4% |
| Net Margin | -9.0% | 3.4% |
| Revenue YoY | 22.8% | 1.6% |
| Net Profit YoY | 52.9% | 14.0% |
| EPS (diluted) | $-0.10 | $0.49 |
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 | $172.6M | $335.6M | ||
| Q3 25 | $158.2M | $336.1M | ||
| Q2 25 | $148.7M | $328.7M | ||
| Q1 25 | $144.5M | $335.8M | ||
| Q4 24 | $140.6M | $330.2M | ||
| Q3 24 | $137.2M | $322.7M | ||
| Q2 24 | $132.4M | $309.1M | ||
| Q1 24 | $133.5M | $308.1M |
| Q4 25 | $-15.5M | $11.3M | ||
| Q3 25 | $-29.5M | $11.8M | ||
| Q2 25 | $-37.5M | $11.6M | ||
| Q1 25 | $-39.1M | $13.1M | ||
| Q4 24 | $-32.9M | $9.9M | ||
| Q3 24 | $-38.0M | $9.0M | ||
| Q2 24 | $-43.7M | $9.2M | ||
| Q1 24 | $-43.4M | $8.0M |
| Q4 25 | 61.4% | 29.5% | ||
| Q3 25 | 58.4% | 29.5% | ||
| Q2 25 | 54.5% | 29.9% | ||
| Q1 25 | 53.2% | 30.3% | ||
| Q4 24 | 53.4% | 29.9% | ||
| Q3 24 | 54.5% | 29.6% | ||
| Q2 24 | 55.1% | 29.2% | ||
| Q1 24 | 54.8% | 29.3% |
| Q4 25 | -8.7% | 4.4% | ||
| Q3 25 | -18.2% | 4.6% | ||
| Q2 25 | -24.8% | 4.7% | ||
| Q1 25 | -26.4% | 5.2% | ||
| Q4 24 | -24.4% | 4.0% | ||
| Q3 24 | -29.6% | 3.7% | ||
| Q2 24 | -35.3% | 4.2% | ||
| Q1 24 | -34.6% | 3.7% |
| Q4 25 | -9.0% | 3.4% | ||
| Q3 25 | -18.6% | 3.5% | ||
| Q2 25 | -25.2% | 3.5% | ||
| Q1 25 | -27.1% | 3.9% | ||
| Q4 24 | -23.4% | 3.0% | ||
| Q3 24 | -27.7% | 2.8% | ||
| Q2 24 | -33.0% | 3.0% | ||
| Q1 24 | -32.5% | 2.6% |
| Q4 25 | $-0.10 | $0.49 | ||
| Q3 25 | $-0.20 | $0.51 | ||
| Q2 25 | $-0.26 | $0.50 | ||
| Q1 25 | $-0.27 | $0.56 | ||
| Q4 24 | $-0.23 | $0.43 | ||
| Q3 24 | $-0.27 | $0.38 | ||
| Q2 24 | $-0.32 | $0.40 | ||
| Q1 24 | $-0.32 | $0.35 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $361.8M | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $929.6M | $220.0M |
| Total Assets | $1.5B | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $361.8M | $23.2M | ||
| Q3 25 | $342.9M | $17.1M | ||
| Q2 25 | $321.2M | $13.2M | ||
| Q1 25 | $307.3M | $21.2M | ||
| Q4 24 | $295.9M | $6.3M | ||
| Q3 24 | $308.2M | $8.9M | ||
| Q2 24 | $311.8M | $13.9M | ||
| Q1 24 | $329.5M | $11.0M |
| Q4 25 | $929.6M | $220.0M | ||
| Q3 25 | $937.0M | $212.4M | ||
| Q2 25 | $942.6M | $202.5M | ||
| Q1 25 | $957.0M | $193.0M | ||
| Q4 24 | $965.3M | $181.9M | ||
| Q3 24 | $969.5M | $174.3M | ||
| Q2 24 | $981.2M | $167.8M | ||
| Q1 24 | $991.8M | $160.0M |
| Q4 25 | $1.5B | $668.6M | ||
| Q3 25 | $1.5B | $670.5M | ||
| Q2 25 | $1.5B | $659.0M | ||
| Q1 25 | $1.4B | $664.6M | ||
| Q4 24 | $1.5B | $648.9M | ||
| Q3 24 | $1.5B | $655.5M | ||
| Q2 24 | $1.5B | $654.4M | ||
| Q1 24 | $1.5B | $656.6M |
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 | $22.4M | $21.1M |
| Free Cash FlowOCF − Capex | $12.2M | $11.6M |
| FCF MarginFCF / Revenue | 7.1% | 3.4% |
| Capex IntensityCapex / Revenue | 5.9% | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $65.8M | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $22.4M | $21.1M | ||
| Q3 25 | $28.9M | $15.6M | ||
| Q2 25 | $25.8M | $2.9M | ||
| Q1 25 | $17.3M | $34.1M | ||
| Q4 24 | $5.2M | $2.7M | ||
| Q3 24 | $5.0M | $24.5M | ||
| Q2 24 | $-4.9M | $12.4M | ||
| Q1 24 | $11.1M | $20.2M |
| Q4 25 | $12.2M | $11.6M | ||
| Q3 25 | $22.9M | $7.5M | ||
| Q2 25 | $15.9M | $-4.2M | ||
| Q1 25 | $14.7M | $27.6M | ||
| Q4 24 | $251.0K | $-6.9M | ||
| Q3 24 | $3.0M | $18.0M | ||
| Q2 24 | $-6.7M | $3.6M | ||
| Q1 24 | $9.5M | $9.8M |
| Q4 25 | 7.1% | 3.4% | ||
| Q3 25 | 14.5% | 2.2% | ||
| Q2 25 | 10.7% | -1.3% | ||
| Q1 25 | 10.2% | 8.2% | ||
| Q4 24 | 0.2% | -2.1% | ||
| Q3 24 | 2.2% | 5.6% | ||
| Q2 24 | -5.1% | 1.2% | ||
| Q1 24 | 7.1% | 3.2% |
| Q4 25 | 5.9% | 2.9% | ||
| Q3 25 | 3.8% | 2.4% | ||
| Q2 25 | 6.6% | 2.2% | ||
| Q1 25 | 1.8% | 1.9% | ||
| Q4 24 | 3.5% | 2.9% | ||
| Q3 24 | 1.5% | 2.0% | ||
| Q2 24 | 1.3% | 2.9% | ||
| Q1 24 | 1.2% | 3.4% |
| Q4 25 | — | 1.86× | ||
| Q3 25 | — | 1.32× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | — | 2.72× | ||
| Q2 24 | — | 1.35× | ||
| Q1 24 | — | 2.54× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FSLY
| Network Services | $130.8M | 76% |
| Security | $35.4M | 21% |
| Other | $6.4M | 4% |
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
