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Side-by-side financial comparison of AMERISAFE INC (AMSF) and Aurinia Pharmaceuticals Inc. (AUPH). Click either name above to swap in a different company.

AMERISAFE INC is the larger business by last-quarter revenue ($80.1M vs $77.1M, roughly 1.0× Aurinia Pharmaceuticals Inc.). Aurinia Pharmaceuticals Inc. runs the higher net margin — 273.4% vs 10.2%, a 263.2% gap on every dollar of revenue. On growth, Aurinia Pharmaceuticals Inc. posted the faster year-over-year revenue change (28.8% vs 10.3%). Over the past eight quarters, Aurinia Pharmaceuticals Inc.'s revenue compounded faster (23.8% CAGR vs 2.8%).

AMERISAFE Inc. is a specialty insurance provider that focuses exclusively on workers' compensation coverage for small and mid-sized businesses in high-hazard industries including construction, logging, trucking, and manufacturing. It operates across 49 U.S. states, offering tailored insurance policies paired with targeted risk management support for clients.

Aurinia Pharmaceuticals Inc. is a late-stage biopharmaceutical company focused on developing and commercializing targeted therapies for autoimmune and kidney diseases. Its lead approved product is Lupkynis for adult active lupus nephritis treatment, with core operations in North America and European markets, focusing on nephrology and rare immunology therapeutic segments.

AMSF vs AUPH — Head-to-Head

Bigger by revenue
AMSF
AMSF
1.0× larger
AMSF
$80.1M
$77.1M
AUPH
Growing faster (revenue YoY)
AUPH
AUPH
+18.5% gap
AUPH
28.8%
10.3%
AMSF
Higher net margin
AUPH
AUPH
263.2% more per $
AUPH
273.4%
10.2%
AMSF
Faster 2-yr revenue CAGR
AUPH
AUPH
Annualised
AUPH
23.8%
2.8%
AMSF

Income Statement — Q1 FY2026 vs Q4 FY2025

Metric
AMSF
AMSF
AUPH
AUPH
Revenue
$80.1M
$77.1M
Net Profit
$8.1M
$210.8M
Gross Margin
88.6%
Operating Margin
43.1%
Net Margin
10.2%
273.4%
Revenue YoY
10.3%
28.8%
Net Profit YoY
-9.0%
14651.2%
EPS (diluted)
$0.43
$1.52

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
AMSF
AMSF
AUPH
AUPH
Q1 26
$80.1M
Q4 25
$81.6M
$77.1M
Q3 25
$82.0M
$73.5M
Q2 25
$81.1M
$70.0M
Q1 25
$72.6M
$62.5M
Q4 24
$74.0M
$59.9M
Q3 24
$78.7M
$67.8M
Q2 24
$75.8M
$57.2M
Net Profit
AMSF
AMSF
AUPH
AUPH
Q1 26
$8.1M
Q4 25
$10.4M
$210.8M
Q3 25
$13.8M
$31.6M
Q2 25
$14.0M
$21.5M
Q1 25
$8.9M
$23.3M
Q4 24
$13.2M
$1.4M
Q3 24
$14.3M
$14.3M
Q2 24
$11.0M
$722.0K
Gross Margin
AMSF
AMSF
AUPH
AUPH
Q1 26
Q4 25
88.6%
Q3 25
88.9%
Q2 25
89.8%
Q1 25
86.3%
Q4 24
90.7%
Q3 24
91.1%
Q2 24
84.4%
Operating Margin
AMSF
AMSF
AUPH
AUPH
Q1 26
Q4 25
15.6%
43.1%
Q3 25
21.3%
40.5%
Q2 25
21.5%
28.7%
Q1 25
15.5%
35.0%
Q4 24
22.7%
-2.8%
Q3 24
22.6%
17.3%
Q2 24
18.1%
-2.6%
Net Margin
AMSF
AMSF
AUPH
AUPH
Q1 26
10.2%
Q4 25
12.8%
273.4%
Q3 25
16.9%
42.9%
Q2 25
17.2%
30.7%
Q1 25
12.3%
37.4%
Q4 24
17.8%
2.4%
Q3 24
18.2%
21.2%
Q2 24
14.5%
1.3%
EPS (diluted)
AMSF
AMSF
AUPH
AUPH
Q1 26
$0.43
Q4 25
$0.55
$1.52
Q3 25
$0.72
$0.23
Q2 25
$0.73
$0.16
Q1 25
$0.47
$0.16
Q4 24
$0.69
$0.00
Q3 24
$0.75
$0.10
Q2 24
$0.57
$0.01

Balance Sheet & Financial Strength

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

Metric
AMSF
AMSF
AUPH
AUPH
Cash + ST InvestmentsLiquidity on hand
$34.2M
$80.2M
Total DebtLower is stronger
Stockholders' EquityBook value
$246.6M
$581.3M
Total Assets
$751.6M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AMSF
AMSF
AUPH
AUPH
Q1 26
$34.2M
Q4 25
$61.9M
$80.2M
Q3 25
$54.7M
$72.9M
Q2 25
$48.5M
$52.9M
Q1 25
$44.8M
$66.1M
Q4 24
$44.1M
$83.4M
Q3 24
$63.7M
$36.6M
Q2 24
$30.6M
$33.3M
Stockholders' Equity
AMSF
AMSF
AUPH
AUPH
Q1 26
$246.6M
Q4 25
$251.6M
$581.3M
Q3 25
$274.8M
$365.8M
Q2 25
$265.6M
$335.3M
Q1 25
$260.8M
$350.2M
Q4 24
$257.3M
$377.5M
Q3 24
$314.4M
$388.0M
Q2 24
$301.0M
$364.6M
Total Assets
AMSF
AMSF
AUPH
AUPH
Q1 26
Q4 25
$1.1B
$751.6M
Q3 25
$1.2B
$527.5M
Q2 25
$1.2B
$502.6M
Q1 25
$1.2B
$504.9M
Q4 24
$1.2B
$550.6M
Q3 24
$1.3B
$549.4M
Q2 24
$1.2B
$523.5M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
AMSF
AMSF
AUPH
AUPH
Operating Cash FlowLast quarter
$45.7M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
0.22×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AMSF
AMSF
AUPH
AUPH
Q1 26
Q4 25
$11.1M
$45.7M
Q3 25
$10.7M
$44.4M
Q2 25
$-8.4M
$44.2M
Q1 25
$-1.8M
$1.3M
Q4 24
$24.2M
$30.1M
Q3 24
$8.4M
$17.0M
Q2 24
$-2.6M
$15.8M
Free Cash Flow
AMSF
AMSF
AUPH
AUPH
Q1 26
Q4 25
$8.9M
Q3 25
$9.8M
Q2 25
$-9.5M
Q1 25
$-1.8M
Q4 24
$23.4M
Q3 24
$8.4M
Q2 24
$-2.6M
FCF Margin
AMSF
AMSF
AUPH
AUPH
Q1 26
Q4 25
10.9%
Q3 25
11.9%
Q2 25
-11.7%
Q1 25
-2.5%
Q4 24
31.5%
Q3 24
10.7%
Q2 24
-3.5%
Capex Intensity
AMSF
AMSF
AUPH
AUPH
Q1 26
Q4 25
2.6%
Q3 25
1.1%
Q2 25
1.3%
Q1 25
0.0%
Q4 24
1.1%
Q3 24
0.0%
Q2 24
0.1%
Cash Conversion
AMSF
AMSF
AUPH
AUPH
Q1 26
Q4 25
1.06×
0.22×
Q3 25
0.77×
1.41×
Q2 25
-0.61×
2.06×
Q1 25
-0.20×
0.06×
Q4 24
1.83×
21.07×
Q3 24
0.59×
1.19×
Q2 24
-0.24×
21.94×

Financial Flow Comparison

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

Revenue Breakdown by Segment

AMSF
AMSF

Segment breakdown not available.

AUPH
AUPH

Products$74.2M96%
License Collaboration And Royalty Revenue$2.9M4%

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