OBS is an open-source application and is the basis on which Streamlabs was built. It receives updates first and fastest and is very lean with excellent CPU usage. As a result, it doesn't have all the extras that Streamlabs baked into their versions, such as themes/overlays, chats, and others. There are plugins, however, so it's not impossible to extend OBS. Streamlabs (formerly Streamlabs OBS, or SLOBS for short) is a separate for-profit software product that was built upon the open-source OBS code and then enhanced with the Streamlabs extra offerings for a monthly subscription price. Previously called Streamlabs OBS, or SLOBS for short, they have since renamed their product to Streamlabs after a massive backlash regarding the company stealing work from another company, after which the \\"OBS\\" part was revealed to have been taken without permission from the OBS project as well. Streamlabs offers built-in chats, overlays, a Test Stream mode, built-in Undo, and integration with the Streamlabs analytics, tipping upgrades, merch storefronts, and other monetization methods. Naturally, Streamlabs does take a percentage of your income with these methods.