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Side-by-side financial comparison of Grindr Inc. (GRND) and National Storage Affiliates Trust (NSA). Click either name above to swap in a different company.
National Storage Affiliates Trust is the larger business by last-quarter revenue ($187.0M vs $126.0M, roughly 1.5× Grindr Inc.). Grindr Inc. runs the higher net margin — 16.1% vs 12.2%, a 3.8% gap on every dollar of revenue. On growth, Grindr Inc. posted the faster year-over-year revenue change (29.0% vs -1.6%). National Storage Affiliates Trust produced more free cash flow last quarter ($299.8M vs $24.5M). Over the past eight quarters, Grindr Inc.'s revenue compounded faster (29.3% CAGR vs -2.4%).
Grindr is a location-based social networking and online hookup application for LGBTQ people.
National Storage Affiliates Trust is a U.S.-headquartered real estate investment trust focused on self-storage assets. It owns, operates and acquires self-storage facilities across dozens of U.S. states, offering secure storage solutions for residential and commercial customers.
GRND vs NSA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $126.0M | $187.0M |
| Net Profit | $20.3M | $22.9M |
| Gross Margin | — | 72.5% |
| Operating Margin | 24.9% | 20.2% |
| Net Margin | 16.1% | 12.2% |
| Revenue YoY | 29.0% | -1.6% |
| Net Profit YoY | 116.4% | 36.8% |
| EPS (diluted) | $0.10 | $0.23 |
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 | $126.0M | $187.0M | ||
| Q3 25 | $115.8M | $188.7M | ||
| Q2 25 | $104.2M | $188.8M | ||
| Q1 25 | $93.9M | $188.4M | ||
| Q4 24 | $97.6M | $190.1M | ||
| Q3 24 | $89.3M | $193.6M | ||
| Q2 24 | $82.3M | $190.4M | ||
| Q1 24 | $75.3M | $196.1M |
| Q4 25 | $20.3M | $22.9M | ||
| Q3 25 | $30.8M | $18.4M | ||
| Q2 25 | $16.6M | $19.5M | ||
| Q1 25 | $27.0M | $13.0M | ||
| Q4 24 | $-123.9M | $16.7M | ||
| Q3 24 | $24.7M | $18.7M | ||
| Q2 24 | $-22.4M | $17.1M | ||
| Q1 24 | $-9.4M | $59.0M |
| Q4 25 | — | 72.5% | ||
| Q3 25 | — | 70.7% | ||
| Q2 25 | — | 70.5% | ||
| Q1 25 | — | 70.7% | ||
| Q4 24 | — | 72.5% | ||
| Q3 24 | — | 72.8% | ||
| Q2 24 | — | 72.6% | ||
| Q1 24 | — | 72.1% |
| Q4 25 | 24.9% | 20.2% | ||
| Q3 25 | 39.1% | 15.8% | ||
| Q2 25 | 23.4% | 16.5% | ||
| Q1 25 | 27.0% | 11.0% | ||
| Q4 24 | 20.9% | 14.5% | ||
| Q3 24 | 31.8% | 15.8% | ||
| Q2 24 | 29.8% | 17.2% | ||
| Q1 24 | 25.6% | 48.9% |
| Q4 25 | 16.1% | 12.2% | ||
| Q3 25 | 26.6% | 9.8% | ||
| Q2 25 | 16.0% | 10.3% | ||
| Q1 25 | 28.8% | 6.9% | ||
| Q4 24 | -126.9% | 8.8% | ||
| Q3 24 | 27.6% | 9.7% | ||
| Q2 24 | -27.2% | 9.0% | ||
| Q1 24 | -12.5% | 30.1% |
| Q4 25 | $0.10 | $0.23 | ||
| Q3 25 | $0.16 | $0.17 | ||
| Q2 25 | $0.08 | $0.19 | ||
| Q1 25 | $0.09 | $0.10 | ||
| Q4 24 | $-0.65 | $0.19 | ||
| Q3 24 | $0.09 | $0.18 | ||
| Q2 24 | $-0.13 | $0.16 | ||
| Q1 24 | $-0.05 | $0.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $87.0M | $23.3M |
| Total DebtLower is stronger | $395.9M | — |
| Stockholders' EquityBook value | $47.0M | $946.0M |
| Total Assets | $531.0M | $5.1B |
| Debt / EquityLower = less leverage | 8.42× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.0M | $23.3M | ||
| Q3 25 | $6.3M | $26.3M | ||
| Q2 25 | $120.8M | $26.1M | ||
| Q1 25 | $255.9M | $19.3M | ||
| Q4 24 | $59.2M | $50.4M | ||
| Q3 24 | $39.1M | $69.9M | ||
| Q2 24 | $16.3M | $59.0M | ||
| Q1 24 | $21.5M | $64.2M |
| Q4 25 | $395.9M | — | ||
| Q3 25 | $279.9M | — | ||
| Q2 25 | $283.5M | — | ||
| Q1 25 | $287.0M | — | ||
| Q4 24 | $290.6M | — | ||
| Q3 24 | $294.1M | — | ||
| Q2 24 | $297.7M | — | ||
| Q1 24 | $315.0M | — |
| Q4 25 | $47.0M | $946.0M | ||
| Q3 25 | $71.0M | $973.1M | ||
| Q2 25 | $187.7M | $1.0B | ||
| Q1 25 | $319.8M | $1.0B | ||
| Q4 24 | $-131.6M | $1.1B | ||
| Q3 24 | $-13.4M | $986.9M | ||
| Q2 24 | $-41.7M | $1.2B | ||
| Q1 24 | $-22.0M | $1.3B |
| Q4 25 | $531.0M | $5.1B | ||
| Q3 25 | $439.2M | $5.1B | ||
| Q2 25 | $547.6M | $5.2B | ||
| Q1 25 | $679.4M | $5.3B | ||
| Q4 24 | $479.1M | $5.4B | ||
| Q3 24 | $456.3M | $5.4B | ||
| Q2 24 | $435.0M | $5.3B | ||
| Q1 24 | $437.7M | $5.4B |
| Q4 25 | 8.42× | — | ||
| Q3 25 | 3.94× | — | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 0.90× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $24.8M | $338.5M |
| Free Cash FlowOCF − Capex | $24.5M | $299.8M |
| FCF MarginFCF / Revenue | 19.5% | 160.3% |
| Capex IntensityCapex / Revenue | 0.2% | 20.7% |
| Cash ConversionOCF / Net Profit | 1.22× | 14.79× |
| TTM Free Cash FlowTrailing 4 quarters | $140.8M | $541.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.8M | $338.5M | ||
| Q3 25 | $55.4M | $100.2M | ||
| Q2 25 | $37.5M | $79.9M | ||
| Q1 25 | $23.8M | $85.6M | ||
| Q4 24 | $29.5M | $363.1M | ||
| Q3 24 | $29.1M | $105.7M | ||
| Q2 24 | $15.8M | $83.2M | ||
| Q1 24 | $20.4M | $94.0M |
| Q4 25 | $24.5M | $299.8M | ||
| Q3 25 | $55.2M | $88.0M | ||
| Q2 25 | $37.3M | $73.8M | ||
| Q1 25 | $23.7M | $79.9M | ||
| Q4 24 | $29.3M | $344.4M | ||
| Q3 24 | $28.8M | $101.8M | ||
| Q2 24 | $15.7M | $79.5M | ||
| Q1 24 | $20.3M | $88.6M |
| Q4 25 | 19.5% | 160.3% | ||
| Q3 25 | 47.7% | 46.6% | ||
| Q2 25 | 35.8% | 39.1% | ||
| Q1 25 | 25.2% | 42.4% | ||
| Q4 24 | 30.0% | 181.2% | ||
| Q3 24 | 32.2% | 52.6% | ||
| Q2 24 | 19.0% | 41.7% | ||
| Q1 24 | 26.9% | 45.2% |
| Q4 25 | 0.2% | 20.7% | ||
| Q3 25 | 0.2% | 6.5% | ||
| Q2 25 | 0.2% | 3.2% | ||
| Q1 25 | 0.1% | 3.0% | ||
| Q4 24 | 0.3% | 9.8% | ||
| Q3 24 | 0.4% | 2.0% | ||
| Q2 24 | 0.2% | 1.9% | ||
| Q1 24 | 0.3% | 2.7% |
| Q4 25 | 1.22× | 14.79× | ||
| Q3 25 | 1.80× | 5.44× | ||
| Q2 25 | 2.25× | 4.10× | ||
| Q1 25 | 0.88× | 6.59× | ||
| Q4 24 | — | 21.70× | ||
| Q3 24 | 1.18× | 5.65× | ||
| Q2 24 | — | 4.88× | ||
| Q1 24 | — | 1.59× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRND
| License And Service | $102.9M | 82% |
| Advertising | $23.1M | 18% |
NSA
Segment breakdown not available.
