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Side-by-side financial comparison of Nakamoto Inc. (NAKA) and Pineapple Financial Inc. (PAPL). Click either name above to swap in a different company.
Pineapple Financial Inc. is the larger business by last-quarter revenue ($707.3K vs $444.9K, roughly 1.6× Nakamoto Inc.). Nakamoto Inc. runs the higher net margin — 8374.2% vs -2756.2%, a 11130.4% gap on every dollar of revenue. On growth, Pineapple Financial Inc. posted the faster year-over-year revenue change (-4.8% vs -26.3%). Over the past eight quarters, Pineapple Financial Inc.'s revenue compounded faster (-2.0% CAGR vs -26.7%).
NAKA vs PAPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $444.9K | $707.3K |
| Net Profit | $37.3M | $-19.5M |
| Gross Margin | — | 48.9% |
| Operating Margin | -41198.2% | -2518.8% |
| Net Margin | 8374.2% | -2756.2% |
| Revenue YoY | -26.3% | -4.8% |
| Net Profit YoY | 3820.2% | -3174.1% |
| EPS (diluted) | $0.68 | $-1.21 |
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.
| Q1 26 | — | $707.3K | ||
| Q4 25 | $444.9K | $721.7K | ||
| Q3 25 | $388.2K | $730.5K | ||
| Q2 25 | $408.5K | $746.9K | ||
| Q1 25 | $579.7K | $743.3K | ||
| Q4 24 | $603.9K | $766.1K | ||
| Q3 24 | $647.9K | $598.3K | ||
| Q2 24 | $639.1K | $736.4K |
| Q1 26 | — | $-19.5M | ||
| Q4 25 | $37.3M | $-6.4M | ||
| Q3 25 | $-86.0M | $-1.8M | ||
| Q2 25 | $-2.4M | $-557.7K | ||
| Q1 25 | $-1.0M | $-595.4K | ||
| Q4 24 | $-1.0M | $-656.9K | ||
| Q3 24 | $-1.0M | $-1.7M | ||
| Q2 24 | $-1.3M | $-848.6K |
| Q1 26 | — | 48.9% | ||
| Q4 25 | — | 49.6% | ||
| Q3 25 | — | 27.8% | ||
| Q2 25 | — | 67.6% | ||
| Q1 25 | — | 43.4% | ||
| Q4 24 | — | 45.9% | ||
| Q3 24 | — | 43.2% | ||
| Q2 24 | — | 44.2% |
| Q1 26 | — | -2518.8% | ||
| Q4 25 | -41198.2% | -909.1% | ||
| Q3 25 | -2680.4% | -131.3% | ||
| Q2 25 | -585.4% | -93.3% | ||
| Q1 25 | -179.7% | -80.6% | ||
| Q4 24 | -169.3% | -90.5% | ||
| Q3 24 | -162.0% | -232.8% | ||
| Q2 24 | -162.3% | -121.7% |
| Q1 26 | — | -2756.2% | ||
| Q4 25 | 8374.2% | -891.6% | ||
| Q3 25 | -22162.2% | -250.3% | ||
| Q2 25 | -590.9% | -74.7% | ||
| Q1 25 | -179.1% | -80.1% | ||
| Q4 24 | -165.8% | -85.7% | ||
| Q3 24 | -156.5% | -283.9% | ||
| Q2 24 | -206.5% | -115.2% |
| Q1 26 | — | $-1.21 | ||
| Q4 25 | $0.68 | $-4.79 | ||
| Q3 25 | $-0.42 | $-0.93 | ||
| Q2 25 | $-0.35 | $-0.05 | ||
| Q1 25 | $-0.17 | $-1.73 | ||
| Q4 24 | $-0.18 | $-2.60 | ||
| Q3 24 | $-0.17 | $-11.10 | ||
| Q2 24 | $-0.26 | $-0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $22.6M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $514.3M | $27.1M |
| Total Assets | $730.6M | $48.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $22.6M | — | ||
| Q3 25 | $24.2M | — | ||
| Q2 25 | $6.0M | — | ||
| Q1 25 | $1.1M | — | ||
| Q4 24 | $2.3M | — | ||
| Q3 24 | $3.6M | — | ||
| Q2 24 | $4.7M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $64.4K | — | ||
| Q4 24 | $148.8K | — | ||
| Q3 24 | $205.6K | — | ||
| Q2 24 | $254.7K | — |
| Q1 26 | — | $27.1M | ||
| Q4 25 | $514.3M | $-5.5M | ||
| Q3 25 | $477.6M | $906.7K | ||
| Q2 25 | $9.0M | $842.6K | ||
| Q1 25 | $1.5M | $739.7K | ||
| Q4 24 | $2.6M | $1.3M | ||
| Q3 24 | $3.5M | $1.3M | ||
| Q2 24 | $4.4M | $2.0M |
| Q1 26 | — | $48.9M | ||
| Q4 25 | $730.6M | $10.6M | ||
| Q3 25 | $692.4M | $5.4M | ||
| Q2 25 | $9.9M | $4.7M | ||
| Q1 25 | $2.6M | $4.0M | ||
| Q4 24 | $3.7M | $4.1M | ||
| Q3 24 | $4.3M | $4.1M | ||
| Q2 24 | $5.5M | $4.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.04× | — | ||
| Q4 24 | 0.06× | — | ||
| Q3 24 | 0.06× | — | ||
| Q2 24 | 0.06× | — |
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 | $-23.5M | $-3.3M |
| Free Cash FlowOCF − Capex | — | $-3.3M |
| FCF MarginFCF / Revenue | — | -462.7% |
| Capex IntensityCapex / Revenue | — | 0.0% |
| Cash ConversionOCF / Net Profit | -0.63× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-3.3M | ||
| Q4 25 | $-23.5M | $-489.7K | ||
| Q3 25 | $-13.2M | $-507.6K | ||
| Q2 25 | $-1.9M | $397.0K | ||
| Q1 25 | $-865.1K | $-172.6K | ||
| Q4 24 | $-3.1M | $-663.6K | ||
| Q3 24 | $-1.0M | $-264.7K | ||
| Q2 24 | $-913.5K | $123.0K |
| Q1 26 | — | $-3.3M | ||
| Q4 25 | — | $-491.7K | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-3.1M | — | ||
| Q3 24 | $-1.0M | $-264.7K | ||
| Q2 24 | — | $122.7K |
| Q1 26 | — | -462.7% | ||
| Q4 25 | — | -68.1% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -511.2% | — | ||
| Q3 24 | -161.7% | -44.2% | ||
| Q2 24 | — | 16.7% |
| Q1 26 | — | 0.0% | ||
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 2.2% | — | ||
| Q3 24 | 0.3% | 0.0% | ||
| Q2 24 | 0.0% | 0.0% |
| Q1 26 | — | — | ||
| Q4 25 | -0.63× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
