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Side-by-side financial comparison of C3.ai, Inc. (AI) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Latham Group, Inc. is the larger business by last-quarter revenue ($100.0M vs $75.1M, roughly 1.3× C3.ai, Inc.). Latham Group, Inc. runs the higher net margin — -7.0% vs -139.3%, a 132.3% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs -20.3%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $-46.9M). Over the past eight quarters, C3.ai, Inc.'s revenue compounded faster (-2.1% CAGR vs -4.9%).
C3.ai, Inc. is a leading enterprise artificial intelligence software provider that develops and delivers scalable AI applications, platform tools, and industry-specific solutions for clients across sectors including manufacturing, energy, financial services, healthcare and public sector. Its offerings help organizations optimize operations, reduce costs, mitigate risks, and realize data-driven decision making.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
AI vs SWIM — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $75.1M | $100.0M |
| Net Profit | $-104.7M | $-7.0M |
| Gross Margin | 40.4% | 28.0% |
| Operating Margin | -149.2% | -10.7% |
| Net Margin | -139.3% | -7.0% |
| Revenue YoY | -20.3% | 14.5% |
| Net Profit YoY | -58.7% | 76.0% |
| EPS (diluted) | $-0.75 | $-0.06 |
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 | $75.1M | $100.0M | ||
| Q3 25 | $70.3M | $161.9M | ||
| Q2 25 | $108.7M | $172.6M | ||
| Q1 25 | $98.8M | $111.4M | ||
| Q4 24 | $94.3M | $87.3M | ||
| Q3 24 | $87.2M | $150.5M | ||
| Q2 24 | $86.6M | $160.1M | ||
| Q1 24 | $78.4M | $110.6M |
| Q4 25 | $-104.7M | $-7.0M | ||
| Q3 25 | $-116.8M | $8.1M | ||
| Q2 25 | $-79.7M | $16.0M | ||
| Q1 25 | $-80.2M | $-6.0M | ||
| Q4 24 | $-66.0M | $-29.2M | ||
| Q3 24 | $-62.8M | $5.9M | ||
| Q2 24 | $-72.9M | $13.3M | ||
| Q1 24 | $-72.6M | $-7.9M |
| Q4 25 | 40.4% | 28.0% | ||
| Q3 25 | 37.6% | 35.4% | ||
| Q2 25 | 62.1% | 37.1% | ||
| Q1 25 | 59.1% | 29.5% | ||
| Q4 24 | 61.3% | 24.6% | ||
| Q3 24 | 59.8% | 32.4% | ||
| Q2 24 | 59.6% | 33.1% | ||
| Q1 24 | 57.8% | 27.7% |
| Q4 25 | -149.2% | -10.7% | ||
| Q3 25 | -177.7% | 13.3% | ||
| Q2 25 | -81.8% | 14.3% | ||
| Q1 25 | -88.7% | -4.4% | ||
| Q4 24 | -79.8% | -14.9% | ||
| Q3 24 | -83.2% | 8.9% | ||
| Q2 24 | -95.1% | 12.5% | ||
| Q1 24 | -105.3% | -1.9% |
| Q4 25 | -139.3% | -7.0% | ||
| Q3 25 | -166.2% | 5.0% | ||
| Q2 25 | -73.3% | 9.3% | ||
| Q1 25 | -81.2% | -5.4% | ||
| Q4 24 | -69.9% | -33.4% | ||
| Q3 24 | -72.0% | 3.9% | ||
| Q2 24 | -84.2% | 8.3% | ||
| Q1 24 | -92.6% | -7.1% |
| Q4 25 | $-0.75 | $-0.06 | ||
| Q3 25 | $-0.86 | $0.07 | ||
| Q2 25 | $-0.60 | $0.13 | ||
| Q1 25 | $-0.62 | $-0.05 | ||
| Q4 24 | $-0.52 | $-0.24 | ||
| Q3 24 | $-0.50 | $0.05 | ||
| Q2 24 | $-0.59 | $0.11 | ||
| Q1 24 | $-0.60 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $675.0M | — |
| Total DebtLower is stronger | — | $279.8M |
| Stockholders' EquityBook value | $771.9M | $405.9M |
| Total Assets | $961.3M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $675.0M | — | ||
| Q3 25 | $711.9M | — | ||
| Q2 25 | $742.7M | — | ||
| Q1 25 | $724.3M | — | ||
| Q4 24 | $730.4M | — | ||
| Q3 24 | $762.5M | — | ||
| Q2 24 | $750.4M | — | ||
| Q1 24 | $723.3M | — |
| Q4 25 | — | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | — | $281.5M | ||
| Q3 24 | — | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $771.9M | $405.9M | ||
| Q3 25 | $798.8M | $408.4M | ||
| Q2 25 | $838.3M | $398.4M | ||
| Q1 25 | $860.2M | $381.1M | ||
| Q4 24 | $859.0M | $387.2M | ||
| Q3 24 | $874.9M | $416.6M | ||
| Q2 24 | $873.4M | $408.1M | ||
| Q1 24 | $898.0M | $391.8M |
| Q4 25 | $961.3M | $823.2M | ||
| Q3 25 | $968.7M | $844.4M | ||
| Q2 25 | $1.0B | $822.1M | ||
| Q1 25 | $1.1B | $824.6M | ||
| Q4 24 | $1.0B | $794.2M | ||
| Q3 24 | $1.1B | $853.4M | ||
| Q2 24 | $1.0B | $830.0M | ||
| Q1 24 | $1.1B | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $-46.5M | $23.3M |
| Free Cash FlowOCF − Capex | $-46.9M | $14.1M |
| FCF MarginFCF / Revenue | -62.4% | 14.1% |
| Capex IntensityCapex / Revenue | 0.5% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-93.2M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-46.5M | $23.3M | ||
| Q3 25 | $-33.5M | $51.0M | ||
| Q2 25 | $11.3M | $36.0M | ||
| Q1 25 | $-22.0M | $-46.9M | ||
| Q4 24 | $-38.7M | $6.2M | ||
| Q3 24 | $8.0M | $37.2M | ||
| Q2 24 | $21.3M | $52.4M | ||
| Q1 24 | $-39.1M | $-34.5M |
| Q4 25 | $-46.9M | $14.1M | ||
| Q3 25 | $-34.3M | $45.2M | ||
| Q2 25 | $10.3M | $29.1M | ||
| Q1 25 | $-22.4M | $-50.3M | ||
| Q4 24 | $-39.5M | $-98.0K | ||
| Q3 24 | $7.1M | $33.2M | ||
| Q2 24 | $18.8M | $47.9M | ||
| Q1 24 | $-45.1M | $-39.9M |
| Q4 25 | -62.4% | 14.1% | ||
| Q3 25 | -48.8% | 27.9% | ||
| Q2 25 | 9.5% | 16.8% | ||
| Q1 25 | -22.7% | -45.2% | ||
| Q4 24 | -41.9% | -0.1% | ||
| Q3 24 | 8.2% | 22.1% | ||
| Q2 24 | 21.7% | 29.9% | ||
| Q1 24 | -57.6% | -36.0% |
| Q4 25 | 0.5% | 9.2% | ||
| Q3 25 | 1.1% | 3.6% | ||
| Q2 25 | 0.9% | 4.0% | ||
| Q1 25 | 0.4% | 3.1% | ||
| Q4 24 | 0.9% | 7.2% | ||
| Q3 24 | 1.1% | 2.7% | ||
| Q2 24 | 2.9% | 2.8% | ||
| Q1 24 | 7.8% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AI
| License And Service | $70.2M | 93% |
| Professional Services | $4.9M | 7% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
