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Side-by-side financial comparison of Ouster, Inc. (OUST) and TPG RE Finance Trust, Inc. (TRTX). Click either name above to swap in a different company.
Ouster, Inc. is the larger business by last-quarter revenue ($62.2M vs $35.0M, roughly 1.8× TPG RE Finance Trust, Inc.). On growth, Ouster, Inc. posted the faster year-over-year revenue change (106.6% vs 0.9%). Over the past eight quarters, Ouster, Inc.'s revenue compounded faster (54.8% CAGR vs -5.1%).
Ouster, Inc. is an American lidar technology company headquartered in San Francisco, California. It builds high-resolution, digital 3D lidar sensors for use in autonomous vehicles, industrial, robotics, drones, mapping, defense, and security systems.
TPG RE Finance Trust, Inc. is a commercial real estate finance firm primarily operating in the United States. It originates, underwrites and manages a portfolio of senior commercial mortgage loans and other real estate-linked debt instruments, serving commercial property owners and investors across multifamily, industrial, office and retail property segments.
OUST vs TRTX — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $62.2M | $35.0M |
| Net Profit | — | $4.0M |
| Gross Margin | 60.2% | — |
| Operating Margin | 1.5% | 11.6% |
| Net Margin | — | 15.6% |
| Revenue YoY | 106.6% | 0.9% |
| Net Profit YoY | — | -62.8% |
| EPS (diluted) | $0.10 | $0.01 |
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 | $62.2M | $35.0M | ||
| Q3 25 | $39.5M | $37.8M | ||
| Q2 25 | $35.0M | $36.2M | ||
| Q1 25 | $32.6M | $37.0M | ||
| Q4 24 | $30.1M | $34.7M | ||
| Q3 24 | $28.1M | $40.1M | ||
| Q2 24 | $27.0M | $39.3M | ||
| Q1 24 | $25.9M | $38.9M |
| Q4 25 | — | $4.0M | ||
| Q3 25 | $-21.7M | $22.0M | ||
| Q2 25 | $-20.6M | $20.6M | ||
| Q1 25 | $-22.0M | $13.7M | ||
| Q4 24 | — | $10.7M | ||
| Q3 24 | $-25.6M | $22.2M | ||
| Q2 24 | $-23.9M | $24.7M | ||
| Q1 24 | $-23.8M | $16.7M |
| Q4 25 | 60.2% | — | ||
| Q3 25 | 42.1% | — | ||
| Q2 25 | 45.2% | — | ||
| Q1 25 | 41.3% | — | ||
| Q4 24 | 43.8% | — | ||
| Q3 24 | 38.3% | — | ||
| Q2 24 | 33.7% | — | ||
| Q1 24 | 28.6% | — |
| Q4 25 | 1.5% | 11.6% | ||
| Q3 25 | -61.4% | 58.4% | ||
| Q2 25 | -76.5% | 57.3% | ||
| Q1 25 | -73.0% | 37.2% | ||
| Q4 24 | -85.1% | 30.3% | ||
| Q3 24 | -98.0% | 55.4% | ||
| Q2 24 | -93.6% | 63.1% | ||
| Q1 24 | -99.5% | 44.0% |
| Q4 25 | — | 15.6% | ||
| Q3 25 | -55.0% | 58.1% | ||
| Q2 25 | -58.8% | 57.0% | ||
| Q1 25 | -67.5% | 37.0% | ||
| Q4 24 | — | 43.3% | ||
| Q3 24 | -91.1% | 55.3% | ||
| Q2 24 | -88.4% | 62.9% | ||
| Q1 24 | -91.9% | 43.0% |
| Q4 25 | $0.10 | $0.01 | ||
| Q3 25 | $-0.37 | $0.23 | ||
| Q2 25 | $-0.38 | $0.21 | ||
| Q1 25 | $-0.42 | $0.12 | ||
| Q4 24 | $-0.46 | $0.09 | ||
| Q3 24 | $-0.54 | $0.23 | ||
| Q2 24 | $-0.53 | $0.26 | ||
| Q1 24 | $-0.55 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $208.6M | $87.6M |
| Total DebtLower is stronger | — | $3.3B |
| Stockholders' EquityBook value | $261.7M | $1.1B |
| Total Assets | $349.5M | $4.4B |
| Debt / EquityLower = less leverage | — | 3.10× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $208.6M | $87.6M | ||
| Q3 25 | $244.5M | $93.6M | ||
| Q2 25 | $226.5M | $165.8M | ||
| Q1 25 | $168.2M | $363.0M | ||
| Q4 24 | $172.0M | $190.2M | ||
| Q3 24 | $151.4M | $226.3M | ||
| Q2 24 | $184.2M | $259.2M | ||
| Q1 24 | $187.8M | $203.1M |
| Q4 25 | — | $3.3B | ||
| Q3 25 | — | $2.9B | ||
| Q2 25 | — | $3.0B | ||
| Q1 25 | — | $2.8B | ||
| Q4 24 | — | $2.6B | ||
| Q3 24 | — | $2.5B | ||
| Q2 24 | — | $2.5B | ||
| Q1 24 | — | $2.7B |
| Q4 25 | $261.7M | $1.1B | ||
| Q3 25 | $247.4M | $1.1B | ||
| Q2 25 | $221.0M | $1.1B | ||
| Q1 25 | $167.9M | $1.1B | ||
| Q4 24 | $180.9M | $1.1B | ||
| Q3 24 | $171.7M | $1.1B | ||
| Q2 24 | $170.6M | $1.1B | ||
| Q1 24 | $167.2M | $1.1B |
| Q4 25 | $349.5M | $4.4B | ||
| Q3 25 | $353.8M | $4.1B | ||
| Q2 25 | $321.8M | $4.2B | ||
| Q1 25 | $268.6M | $4.0B | ||
| Q4 24 | $276.1M | $3.7B | ||
| Q3 24 | $255.2M | $3.7B | ||
| Q2 24 | $309.9M | $3.7B | ||
| Q1 24 | $317.7M | $3.8B |
| Q4 25 | — | 3.10× | ||
| Q3 25 | — | 2.72× | ||
| Q2 25 | — | 2.78× | ||
| Q1 25 | — | 2.56× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 2.22× | ||
| Q2 24 | — | 2.25× | ||
| Q1 24 | — | 2.38× |
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 | $-15.4M | $90.4M |
| Free Cash FlowOCF − Capex | $-37.2M | — |
| FCF MarginFCF / Revenue | -59.8% | — |
| Capex IntensityCapex / Revenue | 35.0% | — |
| Cash ConversionOCF / Net Profit | — | 22.73× |
| TTM Free Cash FlowTrailing 4 quarters | $-64.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.4M | $90.4M | ||
| Q3 25 | $-18.3M | $21.8M | ||
| Q2 25 | $-1.3M | $24.7M | ||
| Q1 25 | $-4.9M | $19.1M | ||
| Q4 24 | $-2.6M | $112.1M | ||
| Q3 24 | $-3.8M | $23.7M | ||
| Q2 24 | $-21.6M | $25.6M | ||
| Q1 24 | $-5.7M | $37.4M |
| Q4 25 | $-37.2M | — | ||
| Q3 25 | $-20.0M | — | ||
| Q2 25 | $-2.2M | — | ||
| Q1 25 | $-5.4M | — | ||
| Q4 24 | $-4.0M | — | ||
| Q3 24 | $-4.3M | — | ||
| Q2 24 | $-22.0M | — | ||
| Q1 24 | $-7.1M | — |
| Q4 25 | -59.8% | — | ||
| Q3 25 | -50.7% | — | ||
| Q2 25 | -6.3% | — | ||
| Q1 25 | -16.6% | — | ||
| Q4 24 | -13.3% | — | ||
| Q3 24 | -15.4% | — | ||
| Q2 24 | -81.5% | — | ||
| Q1 24 | -27.4% | — |
| Q4 25 | 35.0% | — | ||
| Q3 25 | 4.3% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 1.7% | — | ||
| Q4 24 | 4.8% | — | ||
| Q3 24 | 2.0% | — | ||
| Q2 24 | 1.3% | — | ||
| Q1 24 | 5.3% | — |
| Q4 25 | — | 22.73× | ||
| Q3 25 | — | 0.99× | ||
| Q2 25 | — | 1.20× | ||
| Q1 25 | — | 1.39× | ||
| Q4 24 | — | 10.50× | ||
| Q3 24 | — | 1.07× | ||
| Q2 24 | — | 1.03× | ||
| Q1 24 | — | 2.23× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
