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Side-by-side financial comparison of Gauzy Ltd. (GAUZ) and NexPoint Real Estate Finance, Inc. (NREF). Click either name above to swap in a different company.

Gauzy Ltd. is the larger business by last-quarter revenue ($20.1M vs $11.1M, roughly 1.8× NexPoint Real Estate Finance, Inc.). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs -53.5%, a 270.2% gap on every dollar of revenue. On growth, Gauzy Ltd. posted the faster year-over-year revenue change (-17.8% vs -48.8%).

Gauzy Ltd. is a technology firm specializing in advanced liquid crystal-based smart glass solutions. Its product portfolio includes switchable light control films, adaptive glass, and integrated sensing systems, serving core markets of automotive manufacturing, construction, and consumer electronics globally.

NexPoint Real Estate Finance, Inc. is a US-based commercial real estate finance firm that offers structured financing solutions for multifamily, office, industrial, and hospitality properties. It focuses on originating, managing and servicing a diversified portfolio of mortgage loans and real estate-related investments to deliver stable risk-adjusted returns to stakeholders.

GAUZ vs NREF — Head-to-Head

Bigger by revenue
GAUZ
GAUZ
1.8× larger
GAUZ
$20.1M
$11.1M
NREF
Growing faster (revenue YoY)
GAUZ
GAUZ
+31.0% gap
GAUZ
-17.8%
-48.8%
NREF
Higher net margin
NREF
NREF
270.2% more per $
NREF
216.6%
-53.5%
GAUZ

Income Statement — Q2 FY2025 vs Q4 FY2025

Metric
GAUZ
GAUZ
NREF
NREF
Revenue
$20.1M
$11.1M
Net Profit
$-10.7M
$24.0M
Gross Margin
21.4%
Operating Margin
-62.4%
Net Margin
-53.5%
216.6%
Revenue YoY
-17.8%
-48.8%
Net Profit YoY
53.5%
58.7%
EPS (diluted)
$-0.57
$0.47

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.

Revenue
GAUZ
GAUZ
NREF
NREF
Q4 25
$11.1M
Q3 25
$12.5M
Q2 25
$20.1M
$12.1M
Q1 25
$11.5M
Q4 24
$21.7M
Q3 24
$12.5M
Q2 24
$24.4M
$6.7M
Q1 24
$-12.8M
Net Profit
GAUZ
GAUZ
NREF
NREF
Q4 25
$24.0M
Q3 25
$50.9M
Q2 25
$-10.7M
$22.3M
Q1 25
$26.0M
Q4 24
$15.2M
Q3 24
$23.3M
Q2 24
$-23.1M
$12.1M
Q1 24
$-14.6M
Gross Margin
GAUZ
GAUZ
NREF
NREF
Q4 25
Q3 25
Q2 25
21.4%
Q1 25
Q4 24
Q3 24
Q2 24
27.0%
Q1 24
Operating Margin
GAUZ
GAUZ
NREF
NREF
Q4 25
Q3 25
Q2 25
-62.4%
Q1 25
Q4 24
Q3 24
Q2 24
-32.5%
Q1 24
Net Margin
GAUZ
GAUZ
NREF
NREF
Q4 25
216.6%
Q3 25
407.0%
Q2 25
-53.5%
184.5%
Q1 25
225.6%
Q4 24
69.9%
Q3 24
186.4%
Q2 24
-94.6%
179.7%
Q1 24
114.3%
EPS (diluted)
GAUZ
GAUZ
NREF
NREF
Q4 25
$0.47
Q3 25
$1.14
Q2 25
$-0.57
$0.54
Q1 25
$0.70
Q4 24
$0.71
Q3 24
$0.74
Q2 24
$-2.60
$0.40
Q1 24
$-0.83

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
GAUZ
GAUZ
NREF
NREF
Cash + ST InvestmentsLiquidity on hand
$1.2M
$31.1M
Total DebtLower is stronger
$44.0M
$771.2M
Stockholders' EquityBook value
$17.9M
$388.0M
Total Assets
$136.8M
$5.3B
Debt / EquityLower = less leverage
2.46×
1.99×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
GAUZ
GAUZ
NREF
NREF
Q4 25
$31.1M
Q3 25
$17.9M
Q2 25
$1.2M
$9.1M
Q1 25
$19.2M
Q4 24
$3.9M
Q3 24
$34.7M
Q2 24
$63.7M
$4.3M
Q1 24
$13.5M
Total Debt
GAUZ
GAUZ
NREF
NREF
Q4 25
$771.2M
Q3 25
$720.9M
Q2 25
$44.0M
$815.6M
Q1 25
$831.5M
Q4 24
$799.3M
Q3 24
$815.5M
Q2 24
$35.4M
$861.0M
Q1 24
$843.3M
Stockholders' Equity
GAUZ
GAUZ
NREF
NREF
Q4 25
$388.0M
Q3 25
$375.4M
Q2 25
$17.9M
$348.2M
Q1 25
$343.7M
Q4 24
$336.5M
Q3 24
$335.8M
Q2 24
$63.4M
$327.5M
Q1 24
$327.1M
Total Assets
GAUZ
GAUZ
NREF
NREF
Q4 25
$5.3B
Q3 25
$5.3B
Q2 25
$136.8M
$5.4B
Q1 25
$5.4B
Q4 24
$5.4B
Q3 24
$5.7B
Q2 24
$193.1M
$6.6B
Q1 24
$7.1B
Debt / Equity
GAUZ
GAUZ
NREF
NREF
Q4 25
1.99×
Q3 25
1.92×
Q2 25
2.46×
2.34×
Q1 25
2.42×
Q4 24
2.38×
Q3 24
2.43×
Q2 24
0.56×
2.63×
Q1 24
2.58×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
GAUZ
GAUZ
NREF
NREF
Operating Cash FlowLast quarter
$-3.9M
$-4.5M
Free Cash FlowOCF − Capex
$-7.5M
FCF MarginFCF / Revenue
-37.5%
Capex IntensityCapex / Revenue
18.2%
Cash ConversionOCF / Net Profit
-0.19×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
GAUZ
GAUZ
NREF
NREF
Q4 25
$-4.5M
Q3 25
$8.1M
Q2 25
$-3.9M
$3.3M
Q1 25
$16.0M
Q4 24
$4.4M
Q3 24
$14.7M
Q2 24
$-15.7M
$-7.5M
Q1 24
$17.7M
Free Cash Flow
GAUZ
GAUZ
NREF
NREF
Q4 25
Q3 25
Q2 25
$-7.5M
Q1 25
Q4 24
Q3 24
Q2 24
$-20.0M
Q1 24
FCF Margin
GAUZ
GAUZ
NREF
NREF
Q4 25
Q3 25
Q2 25
-37.5%
Q1 25
Q4 24
Q3 24
Q2 24
-82.0%
Q1 24
Capex Intensity
GAUZ
GAUZ
NREF
NREF
Q4 25
Q3 25
Q2 25
18.2%
Q1 25
Q4 24
Q3 24
Q2 24
17.8%
Q1 24
Cash Conversion
GAUZ
GAUZ
NREF
NREF
Q4 25
-0.19×
Q3 25
0.16×
Q2 25
0.15×
Q1 25
0.62×
Q4 24
0.29×
Q3 24
0.63×
Q2 24
-0.62×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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