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Side-by-side financial comparison of ADMA BIOLOGICS, INC. (ADMA) and APPFOLIO INC (APPF). Click either name above to swap in a different company.
APPFOLIO INC is the larger business by last-quarter revenue ($262.2M vs $139.2M, roughly 1.9× ADMA BIOLOGICS, INC.). ADMA BIOLOGICS, INC. runs the higher net margin — 35.5% vs 16.2%, a 19.3% gap on every dollar of revenue. On growth, APPFOLIO INC posted the faster year-over-year revenue change (20.4% vs 18.4%). Over the past eight quarters, ADMA BIOLOGICS, INC.'s revenue compounded faster (30.4% CAGR vs 15.3%).
ADMA Biologics Inc. is a biopharmaceutical enterprise focused on the research, development, manufacturing and commercialization of specialty plasma-derived immunoglobulin therapies. It primarily operates in the United States, catering to patients with primary immunodeficiency and other immune-related disorders, healthcare providers and medical institutions across its core immune health therapeutic segment.
AppFolio, Inc. is an American company founded in 2006 that offers software-as-a-service (SaaS) applications and services to the real estate industry.
ADMA vs APPF — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $139.2M | $262.2M |
| Net Profit | $49.4M | $42.4M |
| Gross Margin | 63.8% | — |
| Operating Margin | 45.1% | 19.4% |
| Net Margin | 35.5% | 16.2% |
| Revenue YoY | 18.4% | 20.4% |
| Net Profit YoY | -55.9% | 35.2% |
| EPS (diluted) | $0.20 | $1.18 |
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.
| Q1 26 | — | $262.2M | ||
| Q4 25 | $139.2M | $248.2M | ||
| Q3 25 | $134.2M | $249.4M | ||
| Q2 25 | $122.0M | $235.6M | ||
| Q1 25 | $114.8M | $217.7M | ||
| Q4 24 | $117.5M | $203.7M | ||
| Q3 24 | $119.8M | $205.7M | ||
| Q2 24 | $107.2M | $197.4M |
| Q1 26 | — | $42.4M | ||
| Q4 25 | $49.4M | $39.9M | ||
| Q3 25 | $36.4M | $33.6M | ||
| Q2 25 | $34.2M | $36.0M | ||
| Q1 25 | $26.9M | $31.4M | ||
| Q4 24 | $111.9M | $102.7M | ||
| Q3 24 | $35.9M | $33.0M | ||
| Q2 24 | $32.1M | $29.7M |
| Q1 26 | — | — | ||
| Q4 25 | 63.8% | — | ||
| Q3 25 | 56.3% | — | ||
| Q2 25 | 55.1% | — | ||
| Q1 25 | 53.2% | — | ||
| Q4 24 | 53.9% | — | ||
| Q3 24 | 49.8% | — | ||
| Q2 24 | 53.6% | — |
| Q1 26 | — | 19.4% | ||
| Q4 25 | 45.1% | 17.6% | ||
| Q3 25 | 38.0% | 14.1% | ||
| Q2 25 | 35.1% | 17.2% | ||
| Q1 25 | 30.4% | 15.5% | ||
| Q4 24 | 32.6% | 11.3% | ||
| Q3 24 | 33.1% | 20.7% | ||
| Q2 24 | 36.6% | 18.3% |
| Q1 26 | — | 16.2% | ||
| Q4 25 | 35.5% | 16.1% | ||
| Q3 25 | 27.1% | 13.5% | ||
| Q2 25 | 28.1% | 15.3% | ||
| Q1 25 | 23.4% | 14.4% | ||
| Q4 24 | 95.2% | 50.4% | ||
| Q3 24 | 30.0% | 16.0% | ||
| Q2 24 | 29.9% | 15.0% |
| Q1 26 | — | $1.18 | ||
| Q4 25 | $0.20 | $1.10 | ||
| Q3 25 | $0.15 | $0.93 | ||
| Q2 25 | $0.14 | $0.99 | ||
| Q1 25 | $0.11 | $0.86 | ||
| Q4 24 | $0.45 | $2.79 | ||
| Q3 24 | $0.15 | $0.90 | ||
| Q2 24 | $0.13 | $0.81 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $87.6M | $147.4M |
| Total DebtLower is stronger | $72.1M | — |
| Stockholders' EquityBook value | $477.3M | $470.2M |
| Total Assets | $624.2M | $580.6M |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $147.4M | ||
| Q4 25 | $87.6M | $107.0M | ||
| Q3 25 | $61.4M | $76.1M | ||
| Q2 25 | $90.3M | $73.5M | ||
| Q1 25 | $71.6M | $56.9M | ||
| Q4 24 | $103.1M | $42.5M | ||
| Q3 24 | $86.7M | $62.4M | ||
| Q2 24 | $88.2M | $59.6M |
| Q1 26 | — | — | ||
| Q4 25 | $72.1M | — | ||
| Q3 25 | $72.4M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $72.3M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $470.2M | ||
| Q4 25 | $477.3M | $542.6M | ||
| Q3 25 | $431.2M | $498.9M | ||
| Q2 25 | $398.3M | $455.6M | ||
| Q1 25 | $373.4M | $462.1M | ||
| Q4 24 | $349.0M | $519.3M | ||
| Q3 24 | $231.9M | $412.8M | ||
| Q2 24 | $188.3M | $371.4M |
| Q1 26 | — | $580.6M | ||
| Q4 25 | $624.2M | $689.0M | ||
| Q3 25 | $568.7M | $640.5M | ||
| Q2 25 | $558.4M | $567.4M | ||
| Q1 25 | $510.6M | $564.7M | ||
| Q4 24 | $488.7M | $626.7M | ||
| Q3 24 | $390.6M | $523.3M | ||
| Q2 24 | $376.4M | $479.3M |
| Q1 26 | — | — | ||
| Q4 25 | 0.15× | — | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.21× | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $35.6M | $34.3M |
| Free Cash FlowOCF − Capex | $34.6M | — |
| FCF MarginFCF / Revenue | 24.8% | — |
| Capex IntensityCapex / Revenue | 0.8% | — |
| Cash ConversionOCF / Net Profit | 0.72× | 0.81× |
| TTM Free Cash FlowTrailing 4 quarters | $27.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $34.3M | ||
| Q4 25 | $35.6M | $65.0M | ||
| Q3 25 | $13.3M | $86.0M | ||
| Q2 25 | $21.1M | $52.6M | ||
| Q1 25 | $-19.7M | $38.5M | ||
| Q4 24 | $50.2M | $36.6M | ||
| Q3 24 | $25.0M | $57.8M | ||
| Q2 24 | $45.6M | $50.9M |
| Q1 26 | — | — | ||
| Q4 25 | $34.6M | $63.7M | ||
| Q3 25 | $-1.1M | $84.7M | ||
| Q2 25 | $18.7M | $52.4M | ||
| Q1 25 | $-24.4M | $38.2M | ||
| Q4 24 | $47.5M | $36.4M | ||
| Q3 24 | $24.0M | $57.4M | ||
| Q2 24 | $43.6M | $50.8M |
| Q1 26 | — | — | ||
| Q4 25 | 24.8% | 25.7% | ||
| Q3 25 | -0.8% | 34.0% | ||
| Q2 25 | 15.3% | 22.2% | ||
| Q1 25 | -21.2% | 17.6% | ||
| Q4 24 | 40.4% | 17.9% | ||
| Q3 24 | 20.0% | 27.9% | ||
| Q2 24 | 40.7% | 25.8% |
| Q1 26 | — | — | ||
| Q4 25 | 0.8% | 0.5% | ||
| Q3 25 | 10.7% | 0.5% | ||
| Q2 25 | 2.0% | 0.1% | ||
| Q1 25 | 4.1% | 0.1% | ||
| Q4 24 | 2.3% | 0.1% | ||
| Q3 24 | 0.9% | 0.2% | ||
| Q2 24 | 1.9% | 0.0% |
| Q1 26 | — | 0.81× | ||
| Q4 25 | 0.72× | 1.63× | ||
| Q3 25 | 0.36× | 2.56× | ||
| Q2 25 | 0.62× | 1.46× | ||
| Q1 25 | -0.73× | 1.23× | ||
| Q4 24 | 0.45× | 0.36× | ||
| Q3 24 | 0.70× | 1.75× | ||
| Q2 24 | 1.42× | 1.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ADMA
| ADMA Bio Manufacturing Segment | $123.1M | 88% |
| Other | $16.0M | 12% |
APPF
| Value Added Services | $201.4M | 77% |
| Subscription Services | $58.2M | 22% |
