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Side-by-side financial comparison of Riot Platforms, Inc. (RIOT) and ZIPRECRUITER, INC. (ZIP). Click either name above to swap in a different company.
Riot Platforms, Inc. is the larger business by last-quarter revenue ($152.8M vs $111.7M, roughly 1.4× ZIPRECRUITER, INC.). ZIPRECRUITER, INC. runs the higher net margin — -0.7% vs -452.0%, a 451.2% gap on every dollar of revenue. On growth, Riot Platforms, Inc. posted the faster year-over-year revenue change (7.2% vs 0.6%). ZIPRECRUITER, INC. produced more free cash flow last quarter ($7.6M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs -4.4%).
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.
ZipRecruiter, Inc. is an American employment marketplace for job seekers and employers.
RIOT vs ZIP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $152.8M | $111.7M |
| Net Profit | $-690.7M | $-835.0K |
| Gross Margin | — | 89.1% |
| Operating Margin | -447.9% | 3.6% |
| Net Margin | -452.0% | -0.7% |
| Revenue YoY | 7.2% | 0.6% |
| Net Profit YoY | -606.3% | 92.3% |
| EPS (diluted) | $-1.89 | $-0.03 |
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 | $111.7M | ||
| Q3 25 | $180.2M | $115.0M | ||
| Q2 25 | $153.0M | $112.2M | ||
| Q1 25 | $161.4M | $110.1M | ||
| Q4 24 | $142.6M | $111.0M | ||
| Q3 24 | $84.8M | $117.1M | ||
| Q2 24 | $70.0M | $123.7M | ||
| Q1 24 | $79.3M | $122.2M |
| Q4 25 | $-690.7M | $-835.0K | ||
| Q3 25 | $104.5M | $-9.8M | ||
| Q2 25 | $219.5M | $-9.5M | ||
| Q1 25 | $-296.4M | $-12.8M | ||
| Q4 24 | $136.4M | $-10.8M | ||
| Q3 24 | $-154.4M | $-2.6M | ||
| Q2 24 | $-84.4M | $7.0M | ||
| Q1 24 | $211.8M | $-6.5M |
| Q4 25 | — | 89.1% | ||
| Q3 25 | — | 89.1% | ||
| Q2 25 | — | 89.3% | ||
| Q1 25 | — | 89.4% | ||
| Q4 24 | — | 89.6% | ||
| Q3 24 | — | 89.4% | ||
| Q2 24 | — | 89.5% | ||
| Q1 24 | — | 89.1% |
| Q4 25 | -447.9% | 3.6% | ||
| Q3 25 | 44.4% | -4.4% | ||
| Q2 25 | — | -5.9% | ||
| Q1 25 | -144.9% | -10.6% | ||
| Q4 24 | — | -3.6% | ||
| Q3 24 | -143.3% | -2.8% | ||
| Q2 24 | -167.2% | 7.6% | ||
| Q1 24 | — | -0.7% |
| Q4 25 | -452.0% | -0.7% | ||
| Q3 25 | 58.0% | -8.5% | ||
| Q2 25 | 143.4% | -8.5% | ||
| Q1 25 | -183.6% | -11.7% | ||
| Q4 24 | 95.7% | -9.7% | ||
| Q3 24 | -182.1% | -2.2% | ||
| Q2 24 | -120.6% | 5.7% | ||
| Q1 24 | 267.1% | -5.3% |
| Q4 25 | $-1.89 | $-0.03 | ||
| Q3 25 | $0.26 | $-0.11 | ||
| Q2 25 | $0.58 | $-0.10 | ||
| Q1 25 | $-0.90 | $-0.13 | ||
| Q4 24 | $0.39 | $-0.10 | ||
| Q3 24 | $-0.54 | $-0.03 | ||
| Q2 24 | $-0.32 | $0.07 | ||
| Q1 24 | $0.51 | $-0.07 |
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 | $188.0M |
| Total DebtLower is stronger | $840.8M | — |
| Stockholders' EquityBook value | $2.9B | $-77.2M |
| Total Assets | $3.9B | $569.7M |
| Debt / EquityLower = less leverage | 0.29× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $233.5M | $188.0M | ||
| Q3 25 | $330.7M | $211.8M | ||
| Q2 25 | $255.4M | $203.5M | ||
| Q1 25 | $163.7M | $221.1M | ||
| Q4 24 | $277.9M | $218.4M | ||
| Q3 24 | $355.7M | $225.6M | ||
| Q2 24 | $481.2M | $271.7M | ||
| Q1 24 | $688.5M | $282.5M |
| 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 | $2.9B | $-77.2M | ||
| Q3 25 | $3.5B | $-76.1M | ||
| Q2 25 | $3.3B | $-65.9M | ||
| Q1 25 | $2.9B | $-11.3M | ||
| Q4 24 | $3.1B | $13.4M | ||
| Q3 24 | $2.7B | $13.6M | ||
| Q2 24 | $2.6B | $24.4M | ||
| Q1 24 | $2.5B | $12.7M |
| Q4 25 | $3.9B | $569.7M | ||
| Q3 25 | $4.5B | $573.6M | ||
| Q2 25 | $4.3B | $592.4M | ||
| Q1 25 | $3.7B | $629.4M | ||
| Q4 24 | $3.9B | $664.1M | ||
| Q3 24 | $2.9B | $652.0M | ||
| Q2 24 | $2.7B | $665.3M | ||
| Q1 24 | $2.6B | $662.4M |
| 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 | $7.7M |
| Free Cash FlowOCF − Capex | $-774.3M | $7.6M |
| FCF MarginFCF / Revenue | -506.6% | 6.8% |
| Capex IntensityCapex / Revenue | 131.8% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.4B | $9.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-572.9M | $7.7M | ||
| Q3 25 | $-114.0M | $2.6M | ||
| Q2 25 | $-231.3M | $10.5M | ||
| Q1 25 | $-122.1M | $-9.9M | ||
| Q4 24 | $-255.1M | $12.5M | ||
| Q3 24 | $-56.3M | $9.3M | ||
| Q2 24 | $-42.5M | $21.9M | ||
| Q1 24 | $-57.9M | $2.0M |
| Q4 25 | $-774.3M | $7.6M | ||
| Q3 25 | $-139.7M | $2.2M | ||
| Q2 25 | $-291.7M | $10.2M | ||
| Q1 25 | $-154.9M | $-10.2M | ||
| Q4 24 | $-495.4M | $12.0M | ||
| Q3 24 | $-127.6M | $9.2M | ||
| Q2 24 | $-96.1M | $21.7M | ||
| Q1 24 | $-115.2M | $1.9M |
| Q4 25 | -506.6% | 6.8% | ||
| Q3 25 | -77.5% | 1.9% | ||
| Q2 25 | -190.7% | 9.1% | ||
| Q1 25 | -96.0% | -9.3% | ||
| Q4 24 | -347.5% | 10.8% | ||
| Q3 24 | -150.5% | 7.8% | ||
| Q2 24 | -137.2% | 17.6% | ||
| Q1 24 | -145.2% | 1.6% |
| Q4 25 | 131.8% | 0.1% | ||
| Q3 25 | 14.3% | 0.3% | ||
| Q2 25 | 39.5% | 0.3% | ||
| Q1 25 | 20.4% | 0.3% | ||
| Q4 24 | 168.6% | 0.4% | ||
| Q3 24 | 84.1% | 0.2% | ||
| Q2 24 | 76.5% | 0.1% | ||
| Q1 24 | 72.3% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | -1.09× | — | ||
| Q2 25 | -1.05× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -1.87× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 3.12× | ||
| 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% |
ZIP
| License | $84.3M | 75% |
| Services | $27.4M | 25% |
