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Side-by-side financial comparison of Riot Platforms, Inc. (RIOT) and RADIANT LOGISTICS, INC (RLGT). Click either name above to swap in a different company.
RADIANT LOGISTICS, INC is the larger business by last-quarter revenue ($232.1M vs $152.8M, roughly 1.5× Riot Platforms, Inc.). RADIANT LOGISTICS, INC runs the higher net margin — 2.3% vs -452.0%, a 454.3% gap on every dollar of revenue. On growth, Riot Platforms, Inc. posted the faster year-over-year revenue change (7.2% vs -12.3%). RADIANT LOGISTICS, INC produced more free cash flow last quarter ($11.6M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs 12.1%).
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.
Radiant Logistics, Inc. is a leading third-party logistics provider offering end-to-end supply chain solutions, domestic and international freight forwarding, warehousing, and last-mile delivery services. It primarily serves North American markets, with key client segments including retail, manufacturing, e-commerce, and industrial sectors, helping businesses optimize logistics workflows and cut operational costs.
RIOT vs RLGT — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $152.8M | $232.1M |
| Net Profit | $-690.7M | $5.3M |
| Gross Margin | — | — |
| Operating Margin | -447.9% | 3.2% |
| Net Margin | -452.0% | 2.3% |
| Revenue YoY | 7.2% | -12.3% |
| Net Profit YoY | -606.3% | -18.0% |
| EPS (diluted) | $-1.89 | $0.11 |
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 | $152.8M | $232.1M | ||
| Q3 25 | $180.2M | $226.7M | ||
| Q2 25 | $153.0M | $220.6M | ||
| Q1 25 | $161.4M | $214.0M | ||
| Q4 24 | $142.6M | $264.5M | ||
| Q3 24 | $84.8M | $203.6M | ||
| Q2 24 | $70.0M | $206.0M | ||
| Q1 24 | $79.3M | $184.6M |
| Q4 25 | $-690.7M | $5.3M | ||
| Q3 25 | $104.5M | $1.3M | ||
| Q2 25 | $219.5M | $4.9M | ||
| Q1 25 | $-296.4M | $2.5M | ||
| Q4 24 | $136.4M | $6.5M | ||
| Q3 24 | $-154.4M | $3.4M | ||
| Q2 24 | $-84.4M | $4.8M | ||
| Q1 24 | $211.8M | $-703.0K |
| Q4 25 | -447.9% | 3.2% | ||
| Q3 25 | 44.4% | 0.9% | ||
| Q2 25 | — | 2.4% | ||
| Q1 25 | -144.9% | 1.6% | ||
| Q4 24 | — | 3.3% | ||
| Q3 24 | -143.3% | 1.9% | ||
| Q2 24 | -167.2% | 2.4% | ||
| Q1 24 | — | -0.5% |
| Q4 25 | -452.0% | 2.3% | ||
| Q3 25 | 58.0% | 0.6% | ||
| Q2 25 | 143.4% | 2.2% | ||
| Q1 25 | -183.6% | 1.2% | ||
| Q4 24 | 95.7% | 2.4% | ||
| Q3 24 | -182.1% | 1.7% | ||
| Q2 24 | -120.6% | 2.3% | ||
| Q1 24 | 267.1% | -0.4% |
| Q4 25 | $-1.89 | $0.11 | ||
| Q3 25 | $0.26 | $0.03 | ||
| Q2 25 | $0.58 | $0.10 | ||
| Q1 25 | $-0.90 | $0.05 | ||
| Q4 24 | $0.39 | $0.13 | ||
| Q3 24 | $-0.54 | $0.07 | ||
| Q2 24 | $-0.32 | $0.11 | ||
| Q1 24 | $0.51 | $-0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $233.5M | $31.9M |
| Total DebtLower is stronger | $840.8M | — |
| Stockholders' EquityBook value | $2.9B | $229.8M |
| Total Assets | $3.9B | $439.4M |
| Debt / EquityLower = less leverage | 0.29× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $233.5M | $31.9M | ||
| Q3 25 | $330.7M | $28.1M | ||
| Q2 25 | $255.4M | $22.9M | ||
| Q1 25 | $163.7M | $19.0M | ||
| Q4 24 | $277.9M | $19.9M | ||
| Q3 24 | $355.7M | $10.4M | ||
| Q2 24 | $481.2M | $24.9M | ||
| Q1 24 | $688.5M | $31.2M |
| 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 | $2.9B | $229.8M | ||
| Q3 25 | $3.5B | $225.7M | ||
| Q2 25 | $3.3B | $226.0M | ||
| Q1 25 | $2.9B | $218.2M | ||
| Q4 24 | $3.1B | $214.4M | ||
| Q3 24 | $2.7B | $212.4M | ||
| Q2 24 | $2.6B | $209.4M | ||
| Q1 24 | $2.5B | $206.0M |
| Q4 25 | $3.9B | $439.4M | ||
| Q3 25 | $4.5B | $445.3M | ||
| Q2 25 | $4.3B | $426.8M | ||
| Q1 25 | $3.7B | $414.5M | ||
| Q4 24 | $3.9B | $386.8M | ||
| Q3 24 | $2.9B | $375.3M | ||
| Q2 24 | $2.7B | $371.2M | ||
| Q1 24 | $2.6B | $364.0M |
| 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 | $-572.9M | $12.4M |
| Free Cash FlowOCF − Capex | $-774.3M | $11.6M |
| FCF MarginFCF / Revenue | -506.6% | 5.0% |
| Capex IntensityCapex / Revenue | 131.8% | 0.3% |
| Cash ConversionOCF / Net Profit | — | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.4B | $8.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-572.9M | $12.4M | ||
| Q3 25 | $-114.0M | $2.5M | ||
| Q2 25 | $-231.3M | $3.1M | ||
| Q1 25 | $-122.1M | $-5.7M | ||
| Q4 24 | $-255.1M | $15.7M | ||
| Q3 24 | $-56.3M | $205.0K | ||
| Q2 24 | $-42.5M | $1.3M | ||
| Q1 24 | $-57.9M | $3.9M |
| Q4 25 | $-774.3M | $11.6M | ||
| Q3 25 | $-139.7M | $977.0K | ||
| Q2 25 | $-291.7M | $2.2M | ||
| Q1 25 | $-154.9M | $-6.4M | ||
| Q4 24 | $-495.4M | $14.1M | ||
| Q3 24 | $-127.6M | $-1.9M | ||
| Q2 24 | $-96.1M | $-185.0K | ||
| Q1 24 | $-115.2M | $1.8M |
| Q4 25 | -506.6% | 5.0% | ||
| Q3 25 | -77.5% | 0.4% | ||
| Q2 25 | -190.7% | 1.0% | ||
| Q1 25 | -96.0% | -3.0% | ||
| Q4 24 | -347.5% | 5.3% | ||
| Q3 24 | -150.5% | -0.9% | ||
| Q2 24 | -137.2% | -0.1% | ||
| Q1 24 | -145.2% | 1.0% |
| Q4 25 | 131.8% | 0.3% | ||
| Q3 25 | 14.3% | 0.7% | ||
| Q2 25 | 39.5% | 0.4% | ||
| Q1 25 | 20.4% | 0.3% | ||
| Q4 24 | 168.6% | 0.6% | ||
| Q3 24 | 84.1% | 1.0% | ||
| Q2 24 | 76.5% | 0.7% | ||
| Q1 24 | 72.3% | 1.2% |
| Q4 25 | — | 2.33× | ||
| Q3 25 | -1.09× | 1.90× | ||
| Q2 25 | -1.05× | 0.63× | ||
| Q1 25 | — | -2.26× | ||
| Q4 24 | -1.87× | 2.43× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.26× | ||
| Q1 24 | -0.27× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
RLGT
| Transferred Over Time | $201.2M | 87% |
| Other | $25.0M | 11% |
| Value Added Services | $4.2M | 2% |
| Transferred At Point In Time | $1.8M | 1% |
