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Side-by-side financial comparison of Hyperscale Data, Inc. (GPUS) and ON24 INC. (ONTF). Click either name above to swap in a different company.
ON24 INC. is the larger business by last-quarter revenue ($34.6M vs $26.9M, roughly 1.3× Hyperscale Data, Inc.). ON24 INC. runs the higher net margin — -18.8% vs -112.0%, a 93.2% gap on every dollar of revenue. On growth, Hyperscale Data, Inc. posted the faster year-over-year revenue change (38.4% vs -5.6%). ON24 INC. produced more free cash flow last quarter ($-2.2M vs $-56.2M). Over the past eight quarters, ON24 INC.'s revenue compounded faster (-4.2% CAGR vs -16.3%).
Hyperscale Data, Inc. provides GPU-accelerated computing infrastructure and cloud solutions tailored for AI development, big data processing, and high-performance computing workloads. It primarily serves AI startups, large technology firms, and cloud service providers across North America and the Asia-Pacific region, delivering scalable, high-efficiency computing resources to support complex data processing needs.
ON24 Inc., a San Francisco-based company, is a cloud-based platform that develops and sells web-based webinar, virtual conferencing, content hub, and landing page applications as a service for marketing and sales teams in B2B organizations. In 2023 it expanded its offerings to include generative AI services.
GPUS vs ONTF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $26.9M | $34.6M |
| Net Profit | $-30.1M | $-6.5M |
| Gross Margin | 14.5% | 74.9% |
| Operating Margin | -117.8% | -23.5% |
| Net Margin | -112.0% | -18.8% |
| Revenue YoY | 38.4% | -5.6% |
| Net Profit YoY | -6670.3% | 26.8% |
| EPS (diluted) | — | $-0.15 |
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 | $26.9M | $34.6M | ||
| Q3 25 | $24.3M | $34.6M | ||
| Q2 25 | $25.9M | $35.3M | ||
| Q1 25 | $25.0M | $34.7M | ||
| Q4 24 | $19.4M | $36.7M | ||
| Q3 24 | $31.1M | $36.3M | ||
| Q2 24 | $17.8M | $37.3M | ||
| Q1 24 | $38.4M | $37.7M |
| Q4 25 | $-30.1M | $-6.5M | ||
| Q3 25 | $-13.0M | $-6.4M | ||
| Q2 25 | $-19.1M | $-7.3M | ||
| Q1 25 | $-4.2M | $-8.7M | ||
| Q4 24 | $-445.0K | $-8.9M | ||
| Q3 24 | $-25.5M | $-11.4M | ||
| Q2 24 | $-33.9M | $-11.2M | ||
| Q1 24 | $3.7M | $-10.7M |
| Q4 25 | 14.5% | 74.9% | ||
| Q3 25 | 25.8% | 74.7% | ||
| Q2 25 | 23.7% | 75.1% | ||
| Q1 25 | 21.1% | 73.8% | ||
| Q4 24 | 6.5% | 74.5% | ||
| Q3 24 | 27.5% | 74.3% | ||
| Q2 24 | -21.3% | 74.5% | ||
| Q1 24 | 47.4% | 74.1% |
| Q4 25 | -117.8% | -23.5% | ||
| Q3 25 | -57.8% | -23.1% | ||
| Q2 25 | -39.2% | -26.0% | ||
| Q1 25 | -25.5% | -30.1% | ||
| Q4 24 | -46.8% | -32.1% | ||
| Q3 24 | -79.2% | -36.7% | ||
| Q2 24 | -151.4% | -35.0% | ||
| Q1 24 | 9.5% | -33.1% |
| Q4 25 | -112.0% | -18.8% | ||
| Q3 25 | -53.5% | -18.4% | ||
| Q2 25 | -73.7% | -20.6% | ||
| Q1 25 | -16.8% | -25.1% | ||
| Q4 24 | -2.3% | -24.2% | ||
| Q3 24 | -82.3% | -31.4% | ||
| Q2 24 | -190.7% | -29.9% | ||
| Q1 24 | 9.7% | -28.4% |
| Q4 25 | — | $-0.15 | ||
| Q3 25 | $-0.39 | $-0.15 | ||
| Q2 25 | $-2.66 | $-0.17 | ||
| Q1 25 | — | $-0.21 | ||
| Q4 24 | $-8.78 | $-0.21 | ||
| Q3 24 | $-24.82 | $-0.27 | ||
| Q2 24 | $-37.81 | $-0.27 | ||
| Q1 24 | $3.32 | $-0.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $13.1M | $37.0M |
| Total DebtLower is stronger | $83.1M | — |
| Stockholders' EquityBook value | $119.8M | $139.4M |
| Total Assets | $313.7M | $228.4M |
| Debt / EquityLower = less leverage | 0.69× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.1M | $37.0M | ||
| Q3 25 | $24.8M | $47.2M | ||
| Q2 25 | $5.9M | $37.7M | ||
| Q1 25 | $4.2M | $26.8M | ||
| Q4 24 | $4.5M | $14.9M | ||
| Q3 24 | $7.9M | $11.0M | ||
| Q2 24 | $9.6M | $15.5M | ||
| Q1 24 | $18.9M | $18.3M |
| Q4 25 | $83.1M | — | ||
| Q3 25 | $80.0M | — | ||
| Q2 25 | $88.5M | — | ||
| Q1 25 | $92.8M | — | ||
| Q4 24 | $96.7M | — | ||
| Q3 24 | $104.8M | — | ||
| Q2 24 | $106.8M | — | ||
| Q1 24 | $30.0M | — |
| Q4 25 | $119.8M | $139.4M | ||
| Q3 25 | $55.9M | $144.3M | ||
| Q2 25 | $5.5M | $150.0M | ||
| Q1 25 | $6.3M | $153.7M | ||
| Q4 24 | $8.6M | $159.4M | ||
| Q3 24 | $2.7M | $164.9M | ||
| Q2 24 | $26.7M | $170.8M | ||
| Q1 24 | $59.0M | $174.4M |
| Q4 25 | $313.7M | $228.4M | ||
| Q3 25 | $242.4M | $224.8M | ||
| Q2 25 | $213.5M | $235.1M | ||
| Q1 25 | $218.5M | $245.8M | ||
| Q4 24 | $220.8M | $251.0M | ||
| Q3 24 | $231.5M | $250.9M | ||
| Q2 24 | $270.8M | $259.0M | ||
| Q1 24 | $299.8M | $269.2M |
| Q4 25 | 0.69× | — | ||
| Q3 25 | 1.43× | — | ||
| Q2 25 | 16.06× | — | ||
| Q1 25 | 14.71× | — | ||
| Q4 24 | 11.19× | — | ||
| Q3 24 | 38.41× | — | ||
| Q2 24 | 4.00× | — | ||
| Q1 24 | 0.51× | — |
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 | $-37.7M | $-1.1M |
| Free Cash FlowOCF − Capex | $-56.2M | $-2.2M |
| FCF MarginFCF / Revenue | -208.7% | -6.4% |
| Capex IntensityCapex / Revenue | 68.6% | 3.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-87.1M | $4.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-37.7M | $-1.1M | ||
| Q3 25 | $-17.8M | $2.5M | ||
| Q2 25 | $-3.1M | $2.6M | ||
| Q1 25 | $-4.0M | $3.4M | ||
| Q4 24 | $-9.2M | $985.0K | ||
| Q3 24 | $3.7M | $295.0K | ||
| Q2 24 | $-3.7M | $1.4M | ||
| Q1 24 | $-10.2M | $2.1M |
| Q4 25 | $-56.2M | $-2.2M | ||
| Q3 25 | $-20.6M | $2.2M | ||
| Q2 25 | $-3.5M | $2.1M | ||
| Q1 25 | $-6.8M | $1.9M | ||
| Q4 24 | $-9.3M | $424.0K | ||
| Q3 24 | $2.6M | $143.0K | ||
| Q2 24 | $-5.9M | $898.0K | ||
| Q1 24 | $-11.6M | $1.1M |
| Q4 25 | -208.7% | -6.4% | ||
| Q3 25 | -84.5% | 6.2% | ||
| Q2 25 | -13.5% | 5.9% | ||
| Q1 25 | -27.3% | 5.6% | ||
| Q4 24 | -47.6% | 1.2% | ||
| Q3 24 | 8.4% | 0.4% | ||
| Q2 24 | -33.4% | 2.4% | ||
| Q1 24 | -30.3% | 2.9% |
| Q4 25 | 68.6% | 3.3% | ||
| Q3 25 | 11.5% | 1.1% | ||
| Q2 25 | 1.5% | 1.4% | ||
| Q1 25 | 11.5% | 4.2% | ||
| Q4 24 | 0.3% | 1.5% | ||
| Q3 24 | 3.6% | 0.4% | ||
| Q2 24 | 12.6% | 1.3% | ||
| Q1 24 | 3.7% | 2.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -2.75× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GPUS
| Transferred Over Time | $10.4M | 39% |
| Revenue From Mined Crypto Assets At Sentinum Owned And Operated Facilities | $5.8M | 21% |
| Hotel And Real Estate Operations | $4.8M | 18% |
| Other | $4.0M | 15% |
| Turn On Green | $2.0M | 7% |
ONTF
Segment breakdown not available.
