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Side-by-side financial comparison of Star Equity Holdings, Inc. (STRR) and Voyager Technologies, Inc. (VOYG). Click either name above to swap in a different company.
Star Equity Holdings, Inc. is the larger business by last-quarter revenue ($56.8M vs $46.7M, roughly 1.2× Voyager Technologies, Inc.). Star Equity Holdings, Inc. runs the higher net margin — -3.0% vs -70.7%, a 67.7% gap on every dollar of revenue. On growth, Star Equity Holdings, Inc. posted the faster year-over-year revenue change (69.0% vs 23.7%). Star Equity Holdings, Inc. produced more free cash flow last quarter ($-9.0M vs $-54.5M).
Artists Equity is an American production company founded by actors and filmmakers Ben Affleck and Matt Damon in November 2022.
STRR vs VOYG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $56.8M | $46.7M |
| Net Profit | $-1.7M | $-33.0M |
| Gross Margin | — | 21.4% |
| Operating Margin | -0.2% | — |
| Net Margin | -3.0% | -70.7% |
| Revenue YoY | 69.0% | 23.7% |
| Net Profit YoY | -192.1% | -71.2% |
| EPS (diluted) | $-0.49 | $-0.52 |
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 | $56.8M | $46.7M | ||
| Q3 25 | $48.0M | $39.6M | ||
| Q2 25 | $35.5M | $45.7M | ||
| Q1 25 | $31.9M | — | ||
| Q4 24 | $33.6M | — | ||
| Q3 24 | $36.9M | — | ||
| Q2 24 | $35.7M | — | ||
| Q1 24 | $33.9M | — |
| Q4 25 | $-1.7M | $-33.0M | ||
| Q3 25 | $-1.8M | $-16.3M | ||
| Q2 25 | $-688.0K | $-31.4M | ||
| Q1 25 | $-1.8M | — | ||
| Q4 24 | $-585.0K | — | ||
| Q3 24 | $-846.0K | — | ||
| Q2 24 | $-441.0K | — | ||
| Q1 24 | $-2.9M | — |
| Q4 25 | — | 21.4% | ||
| Q3 25 | 43.0% | 15.4% | ||
| Q2 25 | — | 18.0% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 50.5% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | -0.2% | — | ||
| Q3 25 | -3.4% | -60.7% | ||
| Q2 25 | -0.6% | -52.8% | ||
| Q1 25 | -5.4% | — | ||
| Q4 24 | -0.4% | — | ||
| Q3 24 | -1.2% | — | ||
| Q2 24 | -0.5% | — | ||
| Q1 24 | -9.0% | — |
| Q4 25 | -3.0% | -70.7% | ||
| Q3 25 | -3.7% | -41.1% | ||
| Q2 25 | -1.9% | -68.7% | ||
| Q1 25 | -5.5% | — | ||
| Q4 24 | -1.7% | — | ||
| Q3 24 | -2.3% | — | ||
| Q2 24 | -1.2% | — | ||
| Q1 24 | -8.6% | — |
| Q4 25 | $-0.49 | $-0.52 | ||
| Q3 25 | $-0.54 | $-0.28 | ||
| Q2 25 | $-0.23 | $-1.23 | ||
| Q1 25 | $-0.59 | — | ||
| Q4 24 | $-0.21 | — | ||
| Q3 24 | $-0.28 | — | ||
| Q2 24 | $-0.15 | — | ||
| Q1 24 | $-0.95 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $10.3M | $491.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $65.7M | — |
| Total Assets | $113.2M | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.3M | $491.3M | ||
| Q3 25 | $15.4M | $413.3M | ||
| Q2 25 | $16.8M | $468.9M | ||
| Q1 25 | $16.6M | — | ||
| Q4 24 | $17.0M | — | ||
| Q3 24 | $15.8M | — | ||
| Q2 24 | $14.7M | — | ||
| Q1 24 | $20.4M | — |
| Q4 25 | — | — | ||
| Q3 25 | $6.5M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $65.7M | — | ||
| Q3 25 | $67.8M | $590.9M | ||
| Q2 25 | $40.1M | $554.7M | ||
| Q1 25 | $39.5M | — | ||
| Q4 24 | $40.4M | — | ||
| Q3 24 | $42.9M | — | ||
| Q2 24 | $42.6M | — | ||
| Q1 24 | $44.3M | — |
| Q4 25 | $113.2M | — | ||
| Q3 25 | $117.1M | $727.8M | ||
| Q2 25 | $55.6M | $685.3M | ||
| Q1 25 | $53.2M | — | ||
| Q4 24 | $52.6M | — | ||
| Q3 24 | $52.6M | — | ||
| Q2 24 | $52.6M | — | ||
| Q1 24 | $52.6M | — |
| Q4 25 | — | — | ||
| Q3 25 | 0.10× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| 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 | $-7.3M | $-60.9M |
| Free Cash FlowOCF − Capex | $-9.0M | $-54.5M |
| FCF MarginFCF / Revenue | -15.8% | -116.9% |
| Capex IntensityCapex / Revenue | 3.0% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-13.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.3M | $-60.9M | ||
| Q3 25 | $-2.7M | $-15.1M | ||
| Q2 25 | $139.0K | $-30.9M | ||
| Q1 25 | $-802.0K | — | ||
| Q4 24 | $-2.8M | — | ||
| Q3 24 | $1.3M | — | ||
| Q2 24 | $-4.3M | — | ||
| Q1 24 | $-1.8M | — |
| Q4 25 | $-9.0M | $-54.5M | ||
| Q3 25 | $-3.4M | $-53.8M | ||
| Q2 25 | $102.0K | $-88.8M | ||
| Q1 25 | $-808.0K | — | ||
| Q4 24 | $-2.8M | — | ||
| Q3 24 | $1.3M | — | ||
| Q2 24 | $-4.3M | — | ||
| Q1 24 | $-1.8M | — |
| Q4 25 | -15.8% | -116.9% | ||
| Q3 25 | -7.0% | -135.8% | ||
| Q2 25 | 0.3% | -194.4% | ||
| Q1 25 | -2.5% | — | ||
| Q4 24 | -8.3% | — | ||
| Q3 24 | 3.4% | — | ||
| Q2 24 | -12.0% | — | ||
| Q1 24 | -5.3% | — |
| Q4 25 | 3.0% | — | ||
| Q3 25 | 1.3% | 97.8% | ||
| Q2 25 | 0.1% | 126.7% | ||
| Q1 25 | 0.0% | — | ||
| Q4 24 | 0.1% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | 0.0% | — | ||
| Q1 24 | 0.0% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
STRR
| Revenue From Other Contracts With Customers | $27.6M | 49% |
| Other | $24.3M | 43% |
| Energy Services Segment | $4.9M | 9% |
VOYG
| Defense and National Security | $35.7M | 77% |
| Space Solutions | $12.5M | 27% |
