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Side-by-side financial comparison of FRANKLIN STREET PROPERTIES CORP (FSP) and Spire Global, Inc. (SPIR). Click either name above to swap in a different company.
FRANKLIN STREET PROPERTIES CORP is the larger business by last-quarter revenue ($26.0M vs $15.8M, roughly 1.6× Spire Global, Inc.). FRANKLIN STREET PROPERTIES CORP runs the higher net margin — -28.1% vs -176.6%, a 148.5% gap on every dollar of revenue. On growth, FRANKLIN STREET PROPERTIES CORP posted the faster year-over-year revenue change (-8.2% vs -26.9%). FRANKLIN STREET PROPERTIES CORP produced more free cash flow last quarter ($-12.7M vs $-16.2M). Over the past eight quarters, FRANKLIN STREET PROPERTIES CORP's revenue compounded faster (-8.7% CAGR vs -32.6%).
Franklin Street Properties Corp is a Massachusetts-based real estate investment trust (REIT) in the United States. It primarily invests in, owns, and operates high-quality office properties across major U.S. metropolitan markets, serving corporate tenants across various industry segments, and delivers stable long-term returns via rental income and strategic asset management.
Spire Global, Inc. is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites, such as the tracking of maritime, aviation and weather patterns.
FSP vs SPIR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $26.0M | $15.8M |
| Net Profit | $-7.3M | $-28.0M |
| Gross Margin | 59.4% | 40.2% |
| Operating Margin | -27.9% | -164.1% |
| Net Margin | -28.1% | -176.6% |
| Revenue YoY | -8.2% | -26.9% |
| Net Profit YoY | 14.1% | 42.7% |
| EPS (diluted) | $-0.06 | $-0.85 |
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 | $26.0M | $15.8M | ||
| Q3 25 | $27.3M | $12.7M | ||
| Q2 25 | $26.7M | $19.2M | ||
| Q1 25 | $27.1M | $23.9M | ||
| Q4 24 | $28.4M | $21.7M | ||
| Q3 24 | $29.7M | $28.6M | ||
| Q2 24 | $30.8M | $25.4M | ||
| Q1 24 | $31.2M | $34.8M |
| Q4 25 | $-7.3M | $-28.0M | ||
| Q3 25 | $-8.3M | $-19.7M | ||
| Q2 25 | $-7.9M | $119.6M | ||
| Q1 25 | $-21.4M | $-20.7M | ||
| Q4 24 | $-8.5M | $-48.8M | ||
| Q3 24 | $-15.6M | $-12.5M | ||
| Q2 24 | $-21.0M | $-16.6M | ||
| Q1 24 | $-7.6M | $-25.5M |
| Q4 25 | 59.4% | 40.2% | ||
| Q3 25 | 60.9% | 36.6% | ||
| Q2 25 | 59.9% | 48.9% | ||
| Q1 25 | 62.8% | 36.8% | ||
| Q4 24 | 59.7% | 32.4% | ||
| Q3 24 | 61.0% | 44.5% | ||
| Q2 24 | 64.2% | 43.0% | ||
| Q1 24 | 64.7% | 26.5% |
| Q4 25 | -27.9% | -164.1% | ||
| Q3 25 | -30.5% | -166.1% | ||
| Q2 25 | -29.2% | -122.7% | ||
| Q1 25 | -78.9% | -106.5% | ||
| Q4 24 | -29.9% | -144.1% | ||
| Q3 24 | -52.4% | -48.0% | ||
| Q2 24 | -68.0% | -48.6% | ||
| Q1 24 | -24.0% | -34.4% |
| Q4 25 | -28.1% | -176.6% | ||
| Q3 25 | -30.5% | -155.3% | ||
| Q2 25 | -29.5% | 623.4% | ||
| Q1 25 | -79.1% | -86.5% | ||
| Q4 24 | -30.0% | -225.2% | ||
| Q3 24 | -52.6% | -43.7% | ||
| Q2 24 | -68.2% | -65.2% | ||
| Q1 24 | -24.2% | -73.3% |
| Q4 25 | $-0.06 | $-0.85 | ||
| Q3 25 | $-0.08 | $-0.61 | ||
| Q2 25 | $-0.08 | $3.72 | ||
| Q1 25 | $-0.21 | $-0.77 | ||
| Q4 24 | $-0.09 | $-1.93 | ||
| Q3 24 | $-0.15 | $-0.50 | ||
| Q2 24 | $-0.20 | $-0.68 | ||
| Q1 24 | $-0.07 | $-1.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $30.6M | $81.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $607.0M | $112.9M |
| Total Assets | $892.9M | $211.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $30.6M | $81.8M | ||
| Q3 25 | $31.4M | $96.8M | ||
| Q2 25 | $29.4M | $117.6M | ||
| Q1 25 | $30.2M | $35.9M | ||
| Q4 24 | $41.1M | $19.2M | ||
| Q3 24 | $40.9M | $36.6M | ||
| Q2 24 | $30.2M | $45.8M | ||
| Q1 24 | $34.2M | $63.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | — | $103.1M | ||
| Q3 24 | — | $4.9M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $123.1M |
| Q4 25 | $607.0M | $112.9M | ||
| Q3 25 | $615.3M | $133.1M | ||
| Q2 25 | $624.7M | $149.2M | ||
| Q1 25 | $633.4M | $3.7M | ||
| Q4 24 | $655.9M | $-11.7M | ||
| Q3 24 | $665.4M | $30.8M | ||
| Q2 24 | $682.1M | $40.3M | ||
| Q1 24 | $703.9M | $52.5M |
| Q4 25 | $892.9M | $211.0M | ||
| Q3 25 | $901.0M | $224.3M | ||
| Q2 25 | $903.2M | $239.5M | ||
| Q1 25 | $916.4M | $208.8M | ||
| Q4 24 | $946.9M | $193.6M | ||
| Q3 24 | $981.5M | $224.2M | ||
| Q2 24 | $1.0B | $230.8M | ||
| Q1 24 | $1.0B | $252.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 27.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 2.35× |
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 | $3.8M | $-4.3M |
| Free Cash FlowOCF − Capex | $-12.7M | $-16.2M |
| FCF MarginFCF / Revenue | -48.6% | -102.1% |
| Capex IntensityCapex / Revenue | 63.0% | 75.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-25.3M | $-92.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.8M | $-4.3M | ||
| Q3 25 | $8.3M | $-12.0M | ||
| Q2 25 | $-2.9M | $-35.1M | ||
| Q1 25 | $-5.5M | $-8.4M | ||
| Q4 24 | $9.0M | $-19.2M | ||
| Q3 24 | $14.5M | $14.0M | ||
| Q2 24 | $-648.0K | $-4.4M | ||
| Q1 24 | $-7.1M | $-8.8M |
| Q4 25 | $-12.7M | $-16.2M | ||
| Q3 25 | $3.0M | $-20.4M | ||
| Q2 25 | $-5.7M | $-38.7M | ||
| Q1 25 | $-9.9M | $-17.3M | ||
| Q4 24 | $-16.2M | $-24.3M | ||
| Q3 24 | $8.6M | $5.1M | ||
| Q2 24 | $-5.1M | $-9.9M | ||
| Q1 24 | $-15.8M | $-15.9M |
| Q4 25 | -48.6% | -102.1% | ||
| Q3 25 | 11.0% | -161.3% | ||
| Q2 25 | -21.5% | -201.7% | ||
| Q1 25 | -36.7% | -72.6% | ||
| Q4 24 | -57.2% | -112.2% | ||
| Q3 24 | 29.1% | 17.8% | ||
| Q2 24 | -16.7% | -39.0% | ||
| Q1 24 | -50.8% | -45.7% |
| Q4 25 | 63.0% | 75.1% | ||
| Q3 25 | 19.4% | 66.2% | ||
| Q2 25 | 10.7% | 18.8% | ||
| Q1 25 | 16.4% | 37.3% | ||
| Q4 24 | 88.9% | 23.5% | ||
| Q3 24 | 19.6% | 31.2% | ||
| Q2 24 | 14.6% | 21.8% | ||
| Q1 24 | 28.1% | 20.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.29× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
