Hugging Face vs Meta: Revenue, Profit and Business Model
Hugging Face reported $150M of revenue in FY2026 and — of net income. Meta reported $201B of revenue in FY2025 and $60.5B of net income.
Latest financial snapshot
Hugging Face
- Latest revenue
- $150M (FY2026)
- Net income
- —
- Net margin
- 0.0%
- Revenue growth
- —
Meta
- Latest revenue
- $201B (FY2025)
- Net income
- $60.5B
- Net margin
- 30.1%
- Revenue growth
- +24.7% a year, FY2016–FY2025
Financial summary
Hugging Face
Hugging Face does not publish financial statements. Outside estimates and reporting put its annualized revenue at about $150 million in mid-2026 (The Information), and Delangue told TechCrunch in July 2026 that the company was close to profitability. It raised roughly $400 million in total, the largest round being a $235 million Series D in August 2023 at a $4.5 billion valuation from Salesforce Ventures, Google, Amazon, Nvidia, AMD, Intel, Qualcomm, IBM, and Sound Ventures. According to the Financial Times, it turned down a $500 million Nvidia investment at a $7 billion valuation in late 2025. In September 2026 Nvidia agreed to pay $12.93 billion for the whole company: about $11.9 billion to stockholders plus up to about $1.0 billion in equity retention awards for employees, roughly 86 times annualized revenue.
Meta
Meta's revenue grew from $116.609B in 2022 to $200.966B in 2025, and net income rose from $23.2B to $60.458B. FY2025 income from operations was $83.276B. In 2026 the story is spending: Q2 2026 costs rose 55% to $42.03B, the operating margin fell to 31% from 43%, and quarterly capex of $31.08B left free cash flow at $784M. Meta had $90.26B of cash and marketable securities and $83.66B of long-term debt at June 30, 2026. It expects 2026 total expenses of $165-169B and still expects 2026 operating income to exceed 2025.
Revenue and profit by year
Hugging Face
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $150M | — | 0.0% | — | Source |
Meta
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $201B | $60.5B | 30.1% | +22.2% | Source |
| FY2024 | $164.5B | $62.4B | 37.9% | +21.9% | Source |
| FY2023 | $134.9B | $39.1B | 29.0% | +15.7% | Source |
| FY2022 | $116.6B | $23.2B | 19.9% | -1.1% | Source |
| FY2021 | $117.9B | $39.4B | 33.4% | +37.2% | Source |
| FY2020 | $86B | $29.1B | 33.9% | +21.6% | Source |
| FY2019 | $70.7B | $18.5B | 26.1% | +26.6% | Source |
| FY2018 | $55.8B | $22.1B | 39.6% | +37.4% | Source |
| FY2017 | $40.7B | $15.9B | 39.2% | +47.1% | Source |
| FY2016 | $27.6B | $10.2B | 37.0% | — | Source |
Where the revenue comes from
Hugging Face
- Enterprise Hub Subscriptions~50%
Tiered enterprise seats and corporate licenses providing private model repositories, SOC2 compliance, audit logs, and SSO.
- Serverless Inference Endpoints~30%
Pay-as-you-go GPU compute billing for deploying scalable production machine learning APIs on dedicated cloud hardware.
- Spaces Hardware Rentals & Pro Accounts~20%
Hourly compute fees for upgrading interactive Gradio Spaces to dedicated Nvidia A100/H100 GPUs and developer Pro subscriptions.
Meta
- Advertising
~97.6% (FY2025)
Ads across Facebook, Instagram, Messenger, Threads and WhatsApp; $196.175B in FY2025.
- Other revenue and Reality Labs
~2.4% (FY2025)
WhatsApp Business messaging, Meta Verified subscriptions, Quest headsets and Ray-Ban Meta glasses.
Business model and strategy
Hugging Face
How it makes money
Hugging Face gives away its core platform and libraries and charges for the things companies need once they put open models into production. Public model and dataset hosting is free.
Growth strategy
Hugging Face grows by being the first place open models land and then selling the tools to use them. Recent moves include buying Argilla (data curation) and XetHub (large-file storage) in 2024, buying humanoid robot maker Pollen Robotics in April 2025 and launching the low-cost Reachy Mini robot in July 2025, publishing its own small open models (SmolLM, SmolVLM), and routing Hub users to third-party inference provid…
Competitive advantage
Hugging Face's advantage is a network effect that is hard to copy. Major open-weight models from Meta, Mistral, Alibaba's Qwen team, DeepSeek, Google, and Nvidia are published on the Hub, so developers go there first, which in turn makes it the first place new models are released.
Meta
How it makes money
Meta makes money by selling ads. Facebook, Instagram, Messenger, WhatsApp and Threads are free to use, and advertisers pay to reach people in feeds, Stories, Reels and click-to-message formats. Advertising produced $196.175B of Meta's $200.966B FY2025 revenue, about 97.6%. Q2 2026 growth came from 14% more ad impressions and a 12% higher average price per ad.
Growth strategy
Meta's growth plan runs through AI. Better ranking and ad-delivery models raise engagement on Reels and feeds and lift ad prices, which drove the 28% revenue growth in Q2 2026. Meta Superintelligence Labs, led by former Scale AI CEO Alexandr Wang, released the first Muse Spark model in April 2026, followed by a paid API and the Muse consumer AI agent in September 2026.
Competitive advantage
Meta's moat is distribution plus data. Its apps reach 3.60 billion people every day, so new products such as Threads, Meta AI and Muse can launch to a huge audience at once. Advertisers stay because Meta's AI ad tools such as Advantage+ convert across that audience at a scale only Google matches. Meta also owns its compute, custom MTIA chips and frontier models, which reduces its dependence on outside AI suppliers.
Questions about Hugging Face vs Meta
Which company has higher revenue — Hugging Face, Inc. or Meta Platforms, Inc.?
Hugging Face, Inc. reported $150.0M (FY2026), while Meta Platforms, Inc. reported $201.0B (FY2025). By last reported revenue, Meta Platforms, Inc. is the larger business, with Hugging Face, Inc. reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of Hugging Face, Inc. vs Meta Platforms, Inc.?
Meta Platforms, Inc. has a market capitalisation of $1.90T. A public market cap figure for Hugging Face, Inc. was not available (it may be privately held).
Which is more financially efficient — Hugging Face, Inc. or Meta Platforms, Inc.?
Meta Platforms, Inc. generates $2.66M / employee in revenue per employee. A comparable figure for Hugging Face, Inc. requires matching employee and revenue data from the same reporting period.
How do Hugging Face, Inc. and Meta Platforms, Inc. make money?
Hugging Face, Inc. and Meta Platforms, Inc. generate revenue in fundamentally different ways. Hugging Face, Inc.: Hugging Face gives away its core platform and libraries and charges for the things companies need once they put open models into production. Meta Platforms, Inc.: Meta makes money by selling ads.
Is Hugging Face, Inc. bigger than Meta Platforms, Inc.?
By last reported revenue, Meta Platforms, Inc. ($201.0B (FY2025)) is the larger company compared to Hugging Face, Inc. ($150.0M (FY2026)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Hugging Face vs Meta overview