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Side-by-side financial comparison of ONESPAWORLD HOLDINGS Ltd (OSW) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
ONESPAWORLD HOLDINGS Ltd is the larger business by last-quarter revenue ($242.1M vs $152.8M, roughly 1.6× Riot Platforms, Inc.). ONESPAWORLD HOLDINGS Ltd runs the higher net margin — 5.0% vs -452.0%, a 457.0% gap on every dollar of revenue. On growth, ONESPAWORLD HOLDINGS Ltd posted the faster year-over-year revenue change (11.5% vs 7.2%). ONESPAWORLD HOLDINGS Ltd produced more free cash flow last quarter ($14.9M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs 7.1%).
Riot Platforms, Inc. is a leading U.S.-based enterprise focused on Bitcoin mining, operating multiple large-scale, energy-efficient data centers across North America. It also invests in blockchain infrastructure development and holds Bitcoin as a core long-term reserve asset, centering its business strategy around the digital asset ecosystem.
OSW vs RIOT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $242.1M | $152.8M |
| Net Profit | $12.1M | $-690.7M |
| Gross Margin | — | — |
| Operating Margin | 6.8% | -447.9% |
| Net Margin | 5.0% | -452.0% |
| Revenue YoY | 11.5% | 7.2% |
| Net Profit YoY | -16.2% | -606.3% |
| EPS (diluted) | $0.12 | $-1.89 |
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 | $242.1M | $152.8M | ||
| Q3 25 | $258.5M | $180.2M | ||
| Q2 25 | $240.7M | $153.0M | ||
| Q1 25 | $219.6M | $161.4M | ||
| Q4 24 | $217.2M | $142.6M | ||
| Q3 24 | $241.7M | $84.8M | ||
| Q2 24 | $224.9M | $70.0M | ||
| Q1 24 | $211.2M | $79.3M |
| Q4 25 | $12.1M | $-690.7M | ||
| Q3 25 | $24.3M | $104.5M | ||
| Q2 25 | $19.9M | $219.5M | ||
| Q1 25 | $15.3M | $-296.4M | ||
| Q4 24 | $14.4M | $136.4M | ||
| Q3 24 | $21.6M | $-154.4M | ||
| Q2 24 | $15.8M | $-84.4M | ||
| Q1 24 | $21.2M | $211.8M |
| Q4 25 | 6.8% | -447.9% | ||
| Q3 25 | 10.2% | 44.4% | ||
| Q2 25 | 9.2% | — | ||
| Q1 25 | 7.7% | -144.9% | ||
| Q4 24 | 7.9% | — | ||
| Q3 24 | 10.3% | -143.3% | ||
| Q2 24 | 8.4% | -167.2% | ||
| Q1 24 | 8.0% | — |
| Q4 25 | 5.0% | -452.0% | ||
| Q3 25 | 9.4% | 58.0% | ||
| Q2 25 | 8.3% | 143.4% | ||
| Q1 25 | 7.0% | -183.6% | ||
| Q4 24 | 6.6% | 95.7% | ||
| Q3 24 | 8.9% | -182.1% | ||
| Q2 24 | 7.0% | -120.6% | ||
| Q1 24 | 10.0% | 267.1% |
| Q4 25 | $0.12 | $-1.89 | ||
| Q3 25 | $0.23 | $0.26 | ||
| Q2 25 | $0.19 | $0.58 | ||
| Q1 25 | $0.15 | $-0.90 | ||
| Q4 24 | $0.13 | $0.39 | ||
| Q3 24 | $0.20 | $-0.54 | ||
| Q2 24 | $0.15 | $-0.32 | ||
| Q1 24 | $0.21 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $16.3M | $233.5M |
| Total DebtLower is stronger | $84.0M | $840.8M |
| Stockholders' EquityBook value | $542.6M | $2.9B |
| Total Assets | $707.1M | $3.9B |
| Debt / EquityLower = less leverage | 0.15× | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $16.3M | $233.5M | ||
| Q3 25 | $29.6M | $330.7M | ||
| Q2 25 | $35.0M | $255.4M | ||
| Q1 25 | $22.6M | $163.7M | ||
| Q4 24 | $57.4M | $277.9M | ||
| Q3 24 | $48.8M | $355.7M | ||
| Q2 24 | $62.5M | $481.2M | ||
| Q1 24 | $65.4M | $688.5M |
| Q4 25 | $84.0M | $840.8M | ||
| Q3 25 | $85.2M | $5.3M | ||
| Q2 25 | $96.2M | $5.3M | ||
| Q1 25 | $97.4M | $5.3M | ||
| Q4 24 | $98.6M | $584.6M | ||
| Q3 24 | $98.7M | $5.7M | ||
| Q2 24 | $123.8M | — | ||
| Q1 24 | $138.6M | — |
| Q4 25 | $542.6M | $2.9B | ||
| Q3 25 | $552.8M | $3.5B | ||
| Q2 25 | $548.3M | $3.3B | ||
| Q1 25 | $530.6M | $2.9B | ||
| Q4 24 | $554.5M | $3.1B | ||
| Q3 24 | $540.1M | $2.7B | ||
| Q2 24 | $532.7M | $2.6B | ||
| Q1 24 | $515.5M | $2.5B |
| Q4 25 | $707.1M | $3.9B | ||
| Q3 25 | $732.6M | $4.5B | ||
| Q2 25 | $731.8M | $4.3B | ||
| Q1 25 | $708.7M | $3.7B | ||
| Q4 24 | $746.4M | $3.9B | ||
| Q3 24 | $734.0M | $2.9B | ||
| Q2 24 | $756.8M | $2.7B | ||
| Q1 24 | $763.6M | $2.6B |
| Q4 25 | 0.15× | 0.29× | ||
| Q3 25 | 0.15× | 0.00× | ||
| Q2 25 | 0.18× | 0.00× | ||
| Q1 25 | 0.18× | 0.00× | ||
| Q4 24 | 0.18× | 0.19× | ||
| Q3 24 | 0.18× | 0.00× | ||
| Q2 24 | 0.23× | — | ||
| Q1 24 | 0.27× | — |
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 | $20.0M | $-572.9M |
| Free Cash FlowOCF − Capex | $14.9M | $-774.3M |
| FCF MarginFCF / Revenue | 6.2% | -506.6% |
| Capex IntensityCapex / Revenue | 2.1% | 131.8% |
| Cash ConversionOCF / Net Profit | 1.65× | — |
| TTM Free Cash FlowTrailing 4 quarters | $68.4M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.0M | $-572.9M | ||
| Q3 25 | $33.2M | $-114.0M | ||
| Q2 25 | $20.3M | $-231.3M | ||
| Q1 25 | $10.1M | $-122.1M | ||
| Q4 24 | $16.6M | $-255.1M | ||
| Q3 24 | $28.6M | $-56.3M | ||
| Q2 24 | $18.7M | $-42.5M | ||
| Q1 24 | $15.0M | $-57.9M |
| Q4 25 | $14.9M | $-774.3M | ||
| Q3 25 | $27.6M | $-139.7M | ||
| Q2 25 | $17.6M | $-291.7M | ||
| Q1 25 | $8.4M | $-154.9M | ||
| Q4 24 | $13.2M | $-495.4M | ||
| Q3 24 | $27.5M | $-127.6M | ||
| Q2 24 | $17.6M | $-96.1M | ||
| Q1 24 | $13.7M | $-115.2M |
| Q4 25 | 6.2% | -506.6% | ||
| Q3 25 | 10.7% | -77.5% | ||
| Q2 25 | 7.3% | -190.7% | ||
| Q1 25 | 3.8% | -96.0% | ||
| Q4 24 | 6.1% | -347.5% | ||
| Q3 24 | 11.4% | -150.5% | ||
| Q2 24 | 7.8% | -137.2% | ||
| Q1 24 | 6.5% | -145.2% |
| Q4 25 | 2.1% | 131.8% | ||
| Q3 25 | 2.2% | 14.3% | ||
| Q2 25 | 1.1% | 39.5% | ||
| Q1 25 | 0.8% | 20.4% | ||
| Q4 24 | 1.5% | 168.6% | ||
| Q3 24 | 0.5% | 84.1% | ||
| Q2 24 | 0.5% | 76.5% | ||
| Q1 24 | 0.6% | 72.3% |
| Q4 25 | 1.65× | — | ||
| Q3 25 | 1.36× | -1.09× | ||
| Q2 25 | 1.02× | -1.05× | ||
| Q1 25 | 0.66× | — | ||
| Q4 24 | 1.15× | -1.87× | ||
| Q3 24 | 1.33× | — | ||
| Q2 24 | 1.19× | — | ||
| Q1 24 | 0.71× | -0.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OSW
| Services | $197.3M | 82% |
| Products | $44.8M | 18% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
