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Side-by-side financial comparison of QUALYS, INC. (QLYS) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
QUALYS, INC. is the larger business by last-quarter revenue ($175.3M vs $152.8M, roughly 1.1× Riot Platforms, Inc.). QUALYS, INC. runs the higher net margin — 30.3% vs -452.0%, a 482.3% gap on every dollar of revenue. On growth, QUALYS, INC. posted the faster year-over-year revenue change (10.1% vs 7.2%). QUALYS, INC. produced more free cash flow last quarter ($74.9M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs 9.6%).
Qualys, Inc. is an American technology firm based in Foster City, California, specializing in cloud security, compliance and related services.
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.
QLYS vs RIOT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $175.3M | $152.8M |
| Net Profit | $53.1M | $-690.7M |
| Gross Margin | 83.4% | — |
| Operating Margin | 33.6% | -447.9% |
| Net Margin | 30.3% | -452.0% |
| Revenue YoY | 10.1% | 7.2% |
| Net Profit YoY | 20.9% | -606.3% |
| EPS (diluted) | $1.47 | $-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 | $175.3M | $152.8M | ||
| Q3 25 | $169.9M | $180.2M | ||
| Q2 25 | $164.1M | $153.0M | ||
| Q1 25 | $159.9M | $161.4M | ||
| Q4 24 | $159.2M | $142.6M | ||
| Q3 24 | $153.9M | $84.8M | ||
| Q2 24 | $148.7M | $70.0M | ||
| Q1 24 | $145.8M | $79.3M |
| Q4 25 | $53.1M | $-690.7M | ||
| Q3 25 | $50.3M | $104.5M | ||
| Q2 25 | $47.3M | $219.5M | ||
| Q1 25 | $47.5M | $-296.4M | ||
| Q4 24 | $44.0M | $136.4M | ||
| Q3 24 | $46.2M | $-154.4M | ||
| Q2 24 | $43.8M | $-84.4M | ||
| Q1 24 | $39.7M | $211.8M |
| Q4 25 | 83.4% | — | ||
| Q3 25 | 83.6% | — | ||
| Q2 25 | 82.4% | — | ||
| Q1 25 | 81.9% | — | ||
| Q4 24 | 81.8% | — | ||
| Q3 24 | 81.3% | — | ||
| Q2 24 | 82.2% | — | ||
| Q1 24 | 81.3% | — |
| Q4 25 | 33.6% | -447.9% | ||
| Q3 25 | 35.3% | 44.4% | ||
| Q2 25 | 31.3% | — | ||
| Q1 25 | 32.4% | -144.9% | ||
| Q4 24 | 31.0% | — | ||
| Q3 24 | 29.2% | -143.3% | ||
| Q2 24 | 32.3% | -167.2% | ||
| Q1 24 | 30.7% | — |
| Q4 25 | 30.3% | -452.0% | ||
| Q3 25 | 29.6% | 58.0% | ||
| Q2 25 | 28.8% | 143.4% | ||
| Q1 25 | 29.7% | -183.6% | ||
| Q4 24 | 27.6% | 95.7% | ||
| Q3 24 | 30.0% | -182.1% | ||
| Q2 24 | 29.4% | -120.6% | ||
| Q1 24 | 27.2% | 267.1% |
| Q4 25 | $1.47 | $-1.89 | ||
| Q3 25 | $1.39 | $0.26 | ||
| Q2 25 | $1.29 | $0.58 | ||
| Q1 25 | $1.29 | $-0.90 | ||
| Q4 24 | $1.19 | $0.39 | ||
| Q3 24 | $1.24 | $-0.54 | ||
| Q2 24 | $1.17 | $-0.32 | ||
| Q1 24 | $1.05 | $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 | $250.3M | $233.5M |
| Total DebtLower is stronger | — | $840.8M |
| Stockholders' EquityBook value | $561.2M | $2.9B |
| Total Assets | $1.1B | $3.9B |
| Debt / EquityLower = less leverage | — | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $250.3M | $233.5M | ||
| Q3 25 | $225.3M | $330.7M | ||
| Q2 25 | $194.0M | $255.4M | ||
| Q1 25 | $290.7M | $163.7M | ||
| Q4 24 | $232.2M | $277.9M | ||
| Q3 24 | $235.4M | $355.7M | ||
| Q2 24 | $281.2M | $481.2M | ||
| Q1 24 | $273.8M | $688.5M |
| Q4 25 | — | $840.8M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | — | $584.6M | ||
| Q3 24 | — | $5.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $561.2M | $2.9B | ||
| Q3 25 | $529.4M | $3.5B | ||
| Q2 25 | $508.2M | $3.3B | ||
| Q1 25 | $498.0M | $2.9B | ||
| Q4 24 | $477.1M | $3.1B | ||
| Q3 24 | $449.6M | $2.7B | ||
| Q2 24 | $427.8M | $2.6B | ||
| Q1 24 | $404.2M | $2.5B |
| Q4 25 | $1.1B | $3.9B | ||
| Q3 25 | $1.0B | $4.5B | ||
| Q2 25 | $999.5M | $4.3B | ||
| Q1 25 | $996.5M | $3.7B | ||
| Q4 24 | $973.5M | $3.9B | ||
| Q3 24 | $908.3M | $2.9B | ||
| Q2 24 | $876.6M | $2.7B | ||
| Q1 24 | $861.8M | $2.6B |
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | — | 0.19× | ||
| Q3 24 | — | 0.00× | ||
| 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 | $75.7M | $-572.9M |
| Free Cash FlowOCF − Capex | $74.9M | $-774.3M |
| FCF MarginFCF / Revenue | 42.8% | -506.6% |
| Capex IntensityCapex / Revenue | 0.4% | 131.8% |
| Cash ConversionOCF / Net Profit | 1.42× | — |
| TTM Free Cash FlowTrailing 4 quarters | $304.4M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.7M | $-572.9M | ||
| Q3 25 | $90.4M | $-114.0M | ||
| Q2 25 | $33.8M | $-231.3M | ||
| Q1 25 | $109.6M | $-122.1M | ||
| Q4 24 | $47.7M | $-255.1M | ||
| Q3 24 | $61.0M | $-56.3M | ||
| Q2 24 | $49.8M | $-42.5M | ||
| Q1 24 | $85.5M | $-57.9M |
| Q4 25 | $74.9M | $-774.3M | ||
| Q3 25 | $89.5M | $-139.7M | ||
| Q2 25 | $32.4M | $-291.7M | ||
| Q1 25 | $107.5M | $-154.9M | ||
| Q4 24 | $41.9M | $-495.4M | ||
| Q3 24 | $57.6M | $-127.6M | ||
| Q2 24 | $48.8M | $-96.1M | ||
| Q1 24 | $83.5M | $-115.2M |
| Q4 25 | 42.8% | -506.6% | ||
| Q3 25 | 52.7% | -77.5% | ||
| Q2 25 | 19.8% | -190.7% | ||
| Q1 25 | 67.3% | -96.0% | ||
| Q4 24 | 26.3% | -347.5% | ||
| Q3 24 | 37.4% | -150.5% | ||
| Q2 24 | 32.8% | -137.2% | ||
| Q1 24 | 57.2% | -145.2% |
| Q4 25 | 0.4% | 131.8% | ||
| Q3 25 | 0.5% | 14.3% | ||
| Q2 25 | 0.8% | 39.5% | ||
| Q1 25 | 1.3% | 20.4% | ||
| Q4 24 | 3.7% | 168.6% | ||
| Q3 24 | 2.2% | 84.1% | ||
| Q2 24 | 0.7% | 76.5% | ||
| Q1 24 | 1.4% | 72.3% |
| Q4 25 | 1.42× | — | ||
| Q3 25 | 1.80× | -1.09× | ||
| Q2 25 | 0.71× | -1.05× | ||
| Q1 25 | 2.31× | — | ||
| Q4 24 | 1.09× | -1.87× | ||
| Q3 24 | 1.32× | — | ||
| Q2 24 | 1.14× | — | ||
| Q1 24 | 2.15× | -0.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
QLYS
| Sales Channel Through Intermediary | $88.6M | 51% |
| Sales Channel Directly To Consumer | $86.7M | 49% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
