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Side-by-side financial comparison of Riot Platforms, Inc. (RIOT) and Tecnoglass Inc. (TGLS). Click either name above to swap in a different company.
Tecnoglass Inc. is the larger business by last-quarter revenue ($245.3M vs $152.8M, roughly 1.6× Riot Platforms, Inc.). Tecnoglass Inc. runs the higher net margin — 10.6% vs -452.0%, a 462.6% gap on every dollar of revenue. On growth, Riot Platforms, Inc. posted the faster year-over-year revenue change (7.2% vs 2.4%). Tecnoglass Inc. produced more free cash flow last quarter ($11.4M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs 12.8%).
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.
Tecnoglass Inc. is a leading manufacturer of high-performance architectural glass, aluminum windows, doors, and associated building components. It primarily caters to residential and commercial construction sectors across North America and Latin America, offering custom, energy-efficient solutions for new construction and renovation projects.
RIOT vs TGLS — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $152.8M | $245.3M |
| Net Profit | $-690.7M | $26.1M |
| Gross Margin | — | 40.0% |
| Operating Margin | -447.9% | 18.3% |
| Net Margin | -452.0% | 10.6% |
| Revenue YoY | 7.2% | 2.4% |
| Net Profit YoY | -606.3% | -44.5% |
| EPS (diluted) | $-1.89 | $0.57 |
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 | $245.3M | ||
| Q3 25 | $180.2M | $260.5M | ||
| Q2 25 | $153.0M | $255.5M | ||
| Q1 25 | $161.4M | $222.3M | ||
| Q4 24 | $142.6M | $239.6M | ||
| Q3 24 | $84.8M | $238.3M | ||
| Q2 24 | $70.0M | $219.7M | ||
| Q1 24 | $79.3M | $192.6M |
| Q4 25 | $-690.7M | $26.1M | ||
| Q3 25 | $104.5M | $47.2M | ||
| Q2 25 | $219.5M | $44.1M | ||
| Q1 25 | $-296.4M | $42.2M | ||
| Q4 24 | $136.4M | $47.0M | ||
| Q3 24 | $-154.4M | $49.5M | ||
| Q2 24 | $-84.4M | $35.0M | ||
| Q1 24 | $211.8M | $29.7M |
| Q4 25 | — | 40.0% | ||
| Q3 25 | — | 42.7% | ||
| Q2 25 | — | 44.7% | ||
| Q1 25 | — | 43.9% | ||
| Q4 24 | — | 44.5% | ||
| Q3 24 | — | 45.8% | ||
| Q2 24 | — | 40.8% | ||
| Q1 24 | — | 38.8% |
| Q4 25 | -447.9% | 18.3% | ||
| Q3 25 | 44.4% | 25.1% | ||
| Q2 25 | — | 24.0% | ||
| Q1 25 | -144.9% | 26.7% | ||
| Q4 24 | — | 28.0% | ||
| Q3 24 | -143.3% | 28.4% | ||
| Q2 24 | -167.2% | 23.3% | ||
| Q1 24 | — | 21.3% |
| Q4 25 | -452.0% | 10.6% | ||
| Q3 25 | 58.0% | 18.1% | ||
| Q2 25 | 143.4% | 17.3% | ||
| Q1 25 | -183.6% | 19.0% | ||
| Q4 24 | 95.7% | 19.6% | ||
| Q3 24 | -182.1% | 20.8% | ||
| Q2 24 | -120.6% | 15.9% | ||
| Q1 24 | 267.1% | 15.4% |
| Q4 25 | $-1.89 | $0.57 | ||
| Q3 25 | $0.26 | $1.01 | ||
| Q2 25 | $0.58 | $0.94 | ||
| Q1 25 | $-0.90 | $0.90 | ||
| Q4 24 | $0.39 | $1.00 | ||
| Q3 24 | $-0.54 | $1.05 | ||
| Q2 24 | $-0.32 | $0.75 | ||
| Q1 24 | $0.51 | $0.63 |
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 | $104.1M |
| Total DebtLower is stronger | $840.8M | $174.4M |
| Stockholders' EquityBook value | $2.9B | $713.1M |
| Total Assets | $3.9B | $1.3B |
| Debt / EquityLower = less leverage | 0.29× | 0.24× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $233.5M | $104.1M | ||
| Q3 25 | $330.7M | $127.1M | ||
| Q2 25 | $255.4M | $140.9M | ||
| Q1 25 | $163.7M | $160.2M | ||
| Q4 24 | $277.9M | $137.5M | ||
| Q3 24 | $355.7M | $124.8M | ||
| Q2 24 | $481.2M | $129.5M | ||
| Q1 24 | $688.5M | $138.8M |
| Q4 25 | $840.8M | $174.4M | ||
| Q3 25 | $5.3M | $114.7M | ||
| Q2 25 | $5.3M | $110.6M | ||
| Q1 25 | $5.3M | $110.6M | ||
| Q4 24 | $584.6M | $111.1M | ||
| Q3 24 | $5.7M | $126.8M | ||
| Q2 24 | — | $144.7M | ||
| Q1 24 | — | $160.9M |
| Q4 25 | $2.9B | $713.1M | ||
| Q3 25 | $3.5B | $764.0M | ||
| Q2 25 | $3.3B | $736.0M | ||
| Q1 25 | $2.9B | $685.1M | ||
| Q4 24 | $3.1B | $631.2M | ||
| Q3 24 | $2.7B | $613.3M | ||
| Q2 24 | $2.6B | $574.8M | ||
| Q1 24 | $2.5B | $573.6M |
| Q4 25 | $3.9B | $1.3B | ||
| Q3 25 | $4.5B | $1.2B | ||
| Q2 25 | $4.3B | $1.2B | ||
| Q1 25 | $3.7B | $1.1B | ||
| Q4 24 | $3.9B | $1.0B | ||
| Q3 24 | $2.9B | $996.3M | ||
| Q2 24 | $2.7B | $942.5M | ||
| Q1 24 | $2.6B | $981.6M |
| Q4 25 | 0.29× | 0.24× | ||
| Q3 25 | 0.00× | 0.15× | ||
| Q2 25 | 0.00× | 0.15× | ||
| Q1 25 | 0.00× | 0.16× | ||
| Q4 24 | 0.19× | 0.18× | ||
| Q3 24 | 0.00× | 0.21× | ||
| Q2 24 | — | 0.25× | ||
| Q1 24 | — | 0.28× |
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 | $31.0M |
| Free Cash FlowOCF − Capex | $-774.3M | $11.4M |
| FCF MarginFCF / Revenue | -506.6% | 4.7% |
| Capex IntensityCapex / Revenue | 131.8% | 8.0% |
| Cash ConversionOCF / Net Profit | — | 1.19× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.4B | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-572.9M | $31.0M | ||
| Q3 25 | $-114.0M | $40.0M | ||
| Q2 25 | $-231.3M | $17.9M | ||
| Q1 25 | $-122.1M | $46.9M | ||
| Q4 24 | $-255.1M | $61.1M | ||
| Q3 24 | $-56.3M | $41.5M | ||
| Q2 24 | $-42.5M | $34.5M | ||
| Q1 24 | $-57.9M | $33.4M |
| Q4 25 | $-774.3M | $11.4M | ||
| Q3 25 | $-139.7M | $21.2M | ||
| Q2 25 | $-291.7M | $-14.7M | ||
| Q1 25 | $-154.9M | $16.5M | ||
| Q4 24 | $-495.4M | $35.4M | ||
| Q3 24 | $-127.6M | $17.8M | ||
| Q2 24 | $-96.1M | $14.2M | ||
| Q1 24 | $-115.2M | $23.6M |
| Q4 25 | -506.6% | 4.7% | ||
| Q3 25 | -77.5% | 8.2% | ||
| Q2 25 | -190.7% | -5.7% | ||
| Q1 25 | -96.0% | 7.4% | ||
| Q4 24 | -347.5% | 14.8% | ||
| Q3 24 | -150.5% | 7.5% | ||
| Q2 24 | -137.2% | 6.5% | ||
| Q1 24 | -145.2% | 12.2% |
| Q4 25 | 131.8% | 8.0% | ||
| Q3 25 | 14.3% | 7.2% | ||
| Q2 25 | 39.5% | 12.7% | ||
| Q1 25 | 20.4% | 13.7% | ||
| Q4 24 | 168.6% | 10.7% | ||
| Q3 24 | 84.1% | 9.9% | ||
| Q2 24 | 76.5% | 9.2% | ||
| Q1 24 | 72.3% | 5.1% |
| Q4 25 | — | 1.19× | ||
| Q3 25 | -1.09× | 0.85× | ||
| Q2 25 | -1.05× | 0.41× | ||
| Q1 25 | — | 1.11× | ||
| Q4 24 | -1.87× | 1.30× | ||
| Q3 24 | — | 0.84× | ||
| Q2 24 | — | 0.98× | ||
| Q1 24 | -0.27× | 1.13× |
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% |
TGLS
| Product Sales | $164.2M | 67% |
| Fixed Price Contracts | $81.1M | 33% |
| Related Party | $692.0K | 0% |
