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Side-by-side financial comparison of XBP Global Holdings, Inc. (XBP) and ZIPRECRUITER, INC. (ZIP). Click either name above to swap in a different company.

XBP Global Holdings, Inc. is the larger business by last-quarter revenue ($152.4M vs $111.7M, roughly 1.4× ZIPRECRUITER, INC.). ZIPRECRUITER, INC. runs the higher net margin — -0.7% vs -200.7%, a 199.9% gap on every dollar of revenue. On growth, ZIPRECRUITER, INC. posted the faster year-over-year revenue change (0.6% vs -34.7%). XBP Global Holdings, Inc. produced more free cash flow last quarter ($10.5M vs $7.6M).

XBP vs ZIP — Head-to-Head

Bigger by revenue
XBP
XBP
1.4× larger
XBP
$152.4M
$111.7M
ZIP
Growing faster (revenue YoY)
ZIP
ZIP
+35.3% gap
ZIP
0.6%
-34.7%
XBP
Higher net margin
ZIP
ZIP
199.9% more per $
ZIP
-0.7%
-200.7%
XBP
More free cash flow
XBP
XBP
$2.9M more FCF
XBP
$10.5M
$7.6M
ZIP

Income Statement — Q3 FY2025 vs Q4 FY2025

Metric
XBP
XBP
ZIP
ZIP
Revenue
$152.4M
$111.7M
Net Profit
$-305.8M
$-835.0K
Gross Margin
21.7%
89.1%
Operating Margin
-191.7%
3.6%
Net Margin
-200.7%
-0.7%
Revenue YoY
-34.7%
0.6%
Net Profit YoY
-980.1%
92.3%
EPS (diluted)
$-2.60
$-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.

Revenue
XBP
XBP
ZIP
ZIP
Q4 25
$111.7M
Q3 25
$152.4M
$115.0M
Q2 25
$112.2M
Q1 25
$110.1M
Q4 24
$111.0M
Q3 24
$233.4M
$117.1M
Q2 24
$123.7M
Q1 24
$122.2M
Net Profit
XBP
XBP
ZIP
ZIP
Q4 25
$-835.0K
Q3 25
$-305.8M
$-9.8M
Q2 25
$-9.5M
Q1 25
$-12.8M
Q4 24
$-10.8M
Q3 24
$-28.3M
$-2.6M
Q2 24
$7.0M
Q1 24
$-6.5M
Gross Margin
XBP
XBP
ZIP
ZIP
Q4 25
89.1%
Q3 25
21.7%
89.1%
Q2 25
89.3%
Q1 25
89.4%
Q4 24
89.6%
Q3 24
18.9%
89.4%
Q2 24
89.5%
Q1 24
89.1%
Operating Margin
XBP
XBP
ZIP
ZIP
Q4 25
3.6%
Q3 25
-191.7%
-4.4%
Q2 25
-5.9%
Q1 25
-10.6%
Q4 24
-3.6%
Q3 24
0.9%
-2.8%
Q2 24
7.6%
Q1 24
-0.7%
Net Margin
XBP
XBP
ZIP
ZIP
Q4 25
-0.7%
Q3 25
-200.7%
-8.5%
Q2 25
-8.5%
Q1 25
-11.7%
Q4 24
-9.7%
Q3 24
-12.1%
-2.2%
Q2 24
5.7%
Q1 24
-5.3%
EPS (diluted)
XBP
XBP
ZIP
ZIP
Q4 25
$-0.03
Q3 25
$-2.60
$-0.11
Q2 25
$-0.10
Q1 25
$-0.13
Q4 24
$-0.10
Q3 24
$-0.09
$-0.03
Q2 24
$0.07
Q1 24
$-0.07

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
XBP
XBP
ZIP
ZIP
Cash + ST InvestmentsLiquidity on hand
$34.5M
$188.0M
Total DebtLower is stronger
$381.5M
Stockholders' EquityBook value
$130.5M
$-77.2M
Total Assets
$947.9M
$569.7M
Debt / EquityLower = less leverage
2.92×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
XBP
XBP
ZIP
ZIP
Q4 25
$188.0M
Q3 25
$34.5M
$211.8M
Q2 25
$203.5M
Q1 25
$221.1M
Q4 24
$218.4M
Q3 24
$7.8M
$225.6M
Q2 24
$271.7M
Q1 24
$282.5M
Total Debt
XBP
XBP
ZIP
ZIP
Q4 25
Q3 25
$381.5M
Q2 25
Q1 25
Q4 24
Q3 24
$31.5M
Q2 24
Q1 24
Stockholders' Equity
XBP
XBP
ZIP
ZIP
Q4 25
$-77.2M
Q3 25
$130.5M
$-76.1M
Q2 25
$-65.9M
Q1 25
$-11.3M
Q4 24
$13.4M
Q3 24
$-1.3B
$13.6M
Q2 24
$24.4M
Q1 24
$12.7M
Total Assets
XBP
XBP
ZIP
ZIP
Q4 25
$569.7M
Q3 25
$947.9M
$573.6M
Q2 25
$592.4M
Q1 25
$629.4M
Q4 24
$664.1M
Q3 24
$99.6M
$652.0M
Q2 24
$665.3M
Q1 24
$662.4M
Debt / Equity
XBP
XBP
ZIP
ZIP
Q4 25
Q3 25
2.92×
Q2 25
Q1 25
Q4 24
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
XBP
XBP
ZIP
ZIP
Operating Cash FlowLast quarter
$13.9M
$7.7M
Free Cash FlowOCF − Capex
$10.5M
$7.6M
FCF MarginFCF / Revenue
6.9%
6.8%
Capex IntensityCapex / Revenue
2.2%
0.1%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$9.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
XBP
XBP
ZIP
ZIP
Q4 25
$7.7M
Q3 25
$13.9M
$2.6M
Q2 25
$10.5M
Q1 25
$-9.9M
Q4 24
$12.5M
Q3 24
$-1.5M
$9.3M
Q2 24
$21.9M
Q1 24
$2.0M
Free Cash Flow
XBP
XBP
ZIP
ZIP
Q4 25
$7.6M
Q3 25
$10.5M
$2.2M
Q2 25
$10.2M
Q1 25
$-10.2M
Q4 24
$12.0M
Q3 24
$-6.1M
$9.2M
Q2 24
$21.7M
Q1 24
$1.9M
FCF Margin
XBP
XBP
ZIP
ZIP
Q4 25
6.8%
Q3 25
6.9%
1.9%
Q2 25
9.1%
Q1 25
-9.3%
Q4 24
10.8%
Q3 24
-2.6%
7.8%
Q2 24
17.6%
Q1 24
1.6%
Capex Intensity
XBP
XBP
ZIP
ZIP
Q4 25
0.1%
Q3 25
2.2%
0.3%
Q2 25
0.3%
Q1 25
0.3%
Q4 24
0.4%
Q3 24
2.0%
0.2%
Q2 24
0.1%
Q1 24
0.1%
Cash Conversion
XBP
XBP
ZIP
ZIP
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
3.12×
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

XBP
XBP

Related And Non Related Party$136.5M90%
Technology$8.2M5%
Other$5.7M4%
Deferred Revenue As Of July312025$1.9M1%

ZIP
ZIP

License$84.3M75%
Services$27.4M25%

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