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Side-by-side financial comparison of Mega Matrix Inc (MPU) and NexPoint Real Estate Finance, Inc. (NREF). Click either name above to swap in a different company.
NexPoint Real Estate Finance, Inc. is the larger business by last-quarter revenue ($11.1M vs $6.1M, roughly 1.8× Mega Matrix Inc). NexPoint Real Estate Finance, Inc. runs the higher net margin — 216.6% vs -177.4%, a 394.1% gap on every dollar of revenue. On growth, Mega Matrix Inc posted the faster year-over-year revenue change (-40.9% vs -48.8%).
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.
MPU vs NREF — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $6.1M | $11.1M |
| Net Profit | $-10.8M | $24.0M |
| Gross Margin | 47.7% | — |
| Operating Margin | -156.3% | — |
| Net Margin | -177.4% | 216.6% |
| Revenue YoY | -40.9% | -48.8% |
| Net Profit YoY | -291.1% | 58.7% |
| EPS (diluted) | $-0.21 | $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.
| Q4 25 | — | $11.1M | ||
| Q3 25 | $6.1M | $12.5M | ||
| Q2 25 | $7.1M | $12.1M | ||
| Q1 25 | $7.7M | $11.5M | ||
| Q4 24 | — | $21.7M | ||
| Q3 24 | $10.3M | $12.5M | ||
| Q2 24 | — | $6.7M | ||
| Q1 24 | — | $-12.8M |
| Q4 25 | — | $24.0M | ||
| Q3 25 | $-10.8M | $50.9M | ||
| Q2 25 | $-1.5M | $22.3M | ||
| Q1 25 | $-2.5M | $26.0M | ||
| Q4 24 | — | $15.2M | ||
| Q3 24 | $-2.8M | $23.3M | ||
| Q2 24 | — | $12.1M | ||
| Q1 24 | — | $-14.6M |
| Q4 25 | — | — | ||
| Q3 25 | 47.7% | — | ||
| Q2 25 | 58.5% | — | ||
| Q1 25 | 55.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 58.5% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | -156.3% | — | ||
| Q2 25 | -21.6% | — | ||
| Q1 25 | -32.8% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -26.0% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 216.6% | ||
| Q3 25 | -177.4% | 407.0% | ||
| Q2 25 | -20.7% | 184.5% | ||
| Q1 25 | -32.0% | 225.6% | ||
| Q4 24 | — | 69.9% | ||
| Q3 24 | -26.8% | 186.4% | ||
| Q2 24 | — | 179.7% | ||
| Q1 24 | — | 114.3% |
| Q4 25 | — | $0.47 | ||
| Q3 25 | $-0.21 | $1.14 | ||
| Q2 25 | $-0.04 | $0.54 | ||
| Q1 25 | $-0.07 | $0.70 | ||
| Q4 24 | — | $0.71 | ||
| Q3 24 | $-0.08 | $0.74 | ||
| Q2 24 | — | $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 | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $9.8M | $31.1M |
| Total DebtLower is stronger | — | $771.2M |
| Stockholders' EquityBook value | $37.4M | $388.0M |
| Total Assets | $42.7M | $5.3B |
| Debt / EquityLower = less leverage | — | 1.99× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $31.1M | ||
| Q3 25 | $9.8M | $17.9M | ||
| Q2 25 | $4.0M | $9.1M | ||
| Q1 25 | $6.8M | $19.2M | ||
| Q4 24 | — | $3.9M | ||
| Q3 24 | $9.9M | $34.7M | ||
| Q2 24 | — | $4.3M | ||
| Q1 24 | — | $13.5M |
| Q4 25 | — | $771.2M | ||
| Q3 25 | — | $720.9M | ||
| Q2 25 | — | $815.6M | ||
| Q1 25 | — | $831.5M | ||
| Q4 24 | — | $799.3M | ||
| Q3 24 | — | $815.5M | ||
| Q2 24 | — | $861.0M | ||
| Q1 24 | — | $843.3M |
| Q4 25 | — | $388.0M | ||
| Q3 25 | $37.4M | $375.4M | ||
| Q2 25 | $10.9M | $348.2M | ||
| Q1 25 | $11.9M | $343.7M | ||
| Q4 24 | — | $336.5M | ||
| Q3 24 | $15.8M | $335.8M | ||
| Q2 24 | — | $327.5M | ||
| Q1 24 | — | $327.1M |
| Q4 25 | — | $5.3B | ||
| Q3 25 | $42.7M | $5.3B | ||
| Q2 25 | $16.6M | $5.4B | ||
| Q1 25 | $17.3M | $5.4B | ||
| Q4 24 | — | $5.4B | ||
| Q3 24 | $22.4M | $5.7B | ||
| Q2 24 | — | $6.6B | ||
| Q1 24 | — | $7.1B |
| Q4 25 | — | 1.99× | ||
| Q3 25 | — | 1.92× | ||
| Q2 25 | — | 2.34× | ||
| Q1 25 | — | 2.42× | ||
| Q4 24 | — | 2.38× | ||
| Q3 24 | — | 2.43× | ||
| Q2 24 | — | 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-3.5M | $-4.5M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | -0.19× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-4.5M | ||
| Q3 25 | $-3.5M | $8.1M | ||
| Q2 25 | $-1.8M | $3.3M | ||
| Q1 25 | $-2.2M | $16.0M | ||
| Q4 24 | — | $4.4M | ||
| Q3 24 | — | $14.7M | ||
| Q2 24 | — | $-7.5M | ||
| Q1 24 | — | $17.7M |
| 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.
