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Side-by-side financial comparison of Riot Platforms, Inc. (RIOT) and STRATASYS LTD. (SSYS). Click either name above to swap in a different company.
Riot Platforms, Inc. is the larger business by last-quarter revenue ($152.8M vs $137.0M, roughly 1.1× STRATASYS LTD.). STRATASYS LTD. runs the higher net margin — -40.6% vs -452.0%, a 411.4% gap on every dollar of revenue. On growth, Riot Platforms, Inc. posted the faster year-over-year revenue change (7.2% vs -2.2%). STRATASYS LTD. produced more free cash flow last quarter ($2.5M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs -7.4%).
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.
Stratasys, Ltd. is an American-Israeli manufacturer of 3D printers, software, and materials for polymer additive manufacturing as well as 3D-printed parts on-demand. The company is incorporated in Israel. Engineers use Stratasys systems to model complex geometries in a wide range of polymer materials, including: ABS, polyphenylsulfone (PPSF), polycarbonate (PC), polyetherimide and Nylon 12.
RIOT vs SSYS — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $152.8M | $137.0M |
| Net Profit | $-690.7M | $-55.6M |
| Gross Margin | — | 41.0% |
| Operating Margin | -447.9% | -16.6% |
| Net Margin | -452.0% | -40.6% |
| Revenue YoY | 7.2% | -2.2% |
| Net Profit YoY | -606.3% | -109.0% |
| EPS (diluted) | $-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 | $152.8M | — | ||
| Q3 25 | $180.2M | $137.0M | ||
| Q2 25 | $153.0M | $138.1M | ||
| Q1 25 | $161.4M | $136.0M | ||
| Q4 24 | $142.6M | — | ||
| Q3 24 | $84.8M | $140.0M | ||
| Q2 24 | $70.0M | $138.0M | ||
| Q1 24 | $79.3M | $144.1M |
| Q4 25 | $-690.7M | — | ||
| Q3 25 | $104.5M | $-55.6M | ||
| Q2 25 | $219.5M | $-16.7M | ||
| Q1 25 | $-296.4M | $-13.1M | ||
| Q4 24 | $136.4M | — | ||
| Q3 24 | $-154.4M | $-26.6M | ||
| Q2 24 | $-84.4M | $-25.7M | ||
| Q1 24 | $211.8M | $-26.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | 41.0% | ||
| Q2 25 | — | 43.1% | ||
| Q1 25 | — | 44.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 44.8% | ||
| Q2 24 | — | 43.8% | ||
| Q1 24 | — | 44.4% |
| Q4 25 | -447.9% | — | ||
| Q3 25 | 44.4% | -16.6% | ||
| Q2 25 | — | -12.0% | ||
| Q1 25 | -144.9% | -9.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | -143.3% | -18.2% | ||
| Q2 24 | -167.2% | -18.9% | ||
| Q1 24 | — | -17.0% |
| Q4 25 | -452.0% | — | ||
| Q3 25 | 58.0% | -40.6% | ||
| Q2 25 | 143.4% | -12.1% | ||
| Q1 25 | -183.6% | -9.6% | ||
| Q4 24 | 95.7% | — | ||
| Q3 24 | -182.1% | -19.0% | ||
| Q2 24 | -120.6% | -18.6% | ||
| Q1 24 | 267.1% | -18.0% |
| Q4 25 | $-1.89 | — | ||
| Q3 25 | $0.26 | — | ||
| Q2 25 | $0.58 | — | ||
| Q1 25 | $-0.90 | — | ||
| Q4 24 | $0.39 | — | ||
| Q3 24 | $-0.54 | — | ||
| Q2 24 | $-0.32 | — | ||
| Q1 24 | $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 | $233.5M | $71.5M |
| Total DebtLower is stronger | $840.8M | — |
| Stockholders' EquityBook value | $2.9B | $852.5M |
| Total Assets | $3.9B | $1.1B |
| Debt / EquityLower = less leverage | 0.29× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $233.5M | — | ||
| Q3 25 | $330.7M | $71.5M | ||
| Q2 25 | $255.4M | $71.1M | ||
| Q1 25 | $163.7M | $70.1M | ||
| Q4 24 | $277.9M | — | ||
| Q3 24 | $355.7M | $64.0M | ||
| Q2 24 | $481.2M | $70.9M | ||
| Q1 24 | $688.5M | $91.1M |
| 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 | — | ||
| Q3 25 | $3.5B | $852.5M | ||
| Q2 25 | $3.3B | $902.4M | ||
| Q1 25 | $2.9B | $784.8M | ||
| Q4 24 | $3.1B | — | ||
| Q3 24 | $2.7B | $831.8M | ||
| Q2 24 | $2.6B | $850.5M | ||
| Q1 24 | $2.5B | $866.1M |
| Q4 25 | $3.9B | — | ||
| Q3 25 | $4.5B | $1.1B | ||
| Q2 25 | $4.3B | $1.1B | ||
| Q1 25 | $3.7B | $1.0B | ||
| Q4 24 | $3.9B | — | ||
| Q3 24 | $2.9B | $1.1B | ||
| Q2 24 | $2.7B | $1.1B | ||
| Q1 24 | $2.6B | $1.1B |
| 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 | $6.9M |
| Free Cash FlowOCF − Capex | $-774.3M | $2.5M |
| FCF MarginFCF / Revenue | -506.6% | 1.8% |
| Capex IntensityCapex / Revenue | 131.8% | 3.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.4B | $-11.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-572.9M | — | ||
| Q3 25 | $-114.0M | $6.9M | ||
| Q2 25 | $-231.3M | $-1.1M | ||
| Q1 25 | $-122.1M | $4.5M | ||
| Q4 24 | $-255.1M | — | ||
| Q3 24 | $-56.3M | $-4.5M | ||
| Q2 24 | $-42.5M | $-2.4M | ||
| Q1 24 | $-57.9M | $7.3M |
| Q4 25 | $-774.3M | — | ||
| Q3 25 | $-139.7M | $2.5M | ||
| Q2 25 | $-291.7M | $-8.4M | ||
| Q1 25 | $-154.9M | $789.0K | ||
| Q4 24 | $-495.4M | — | ||
| Q3 24 | $-127.6M | $-6.3M | ||
| Q2 24 | $-96.1M | $-4.9M | ||
| Q1 24 | $-115.2M | $5.0M |
| Q4 25 | -506.6% | — | ||
| Q3 25 | -77.5% | 1.8% | ||
| Q2 25 | -190.7% | -6.1% | ||
| Q1 25 | -96.0% | 0.6% | ||
| Q4 24 | -347.5% | — | ||
| Q3 24 | -150.5% | -4.5% | ||
| Q2 24 | -137.2% | -3.6% | ||
| Q1 24 | -145.2% | 3.5% |
| Q4 25 | 131.8% | — | ||
| Q3 25 | 14.3% | 3.2% | ||
| Q2 25 | 39.5% | 5.3% | ||
| Q1 25 | 20.4% | 2.8% | ||
| Q4 24 | 168.6% | — | ||
| Q3 24 | 84.1% | 1.3% | ||
| Q2 24 | 76.5% | 1.8% | ||
| Q1 24 | 72.3% | 1.6% |
| Q4 25 | — | — | ||
| Q3 25 | -1.09× | — | ||
| Q2 25 | -1.05× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -1.87× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| 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% |
SSYS
Segment breakdown not available.
