vs
Side-by-side financial comparison of AMERISAFE INC (AMSF) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
Smart Sand, Inc. is the larger business by last-quarter revenue ($86.0M vs $80.1M, roughly 1.1× AMERISAFE INC). AMERISAFE INC runs the higher net margin — 10.2% vs 1.4%, a 8.8% gap on every dollar of revenue. On growth, AMERISAFE INC posted the faster year-over-year revenue change (10.3% vs -5.8%). Over the past eight quarters, AMERISAFE INC's revenue compounded faster (2.8% CAGR vs 1.8%).
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.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
AMSF vs SND — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $80.1M | $86.0M |
| Net Profit | $8.1M | $1.2M |
| Gross Margin | — | 13.0% |
| Operating Margin | — | -3.1% |
| Net Margin | 10.2% | 1.4% |
| Revenue YoY | 10.3% | -5.8% |
| Net Profit YoY | -9.0% | -68.5% |
| EPS (diluted) | $0.43 | $0.03 |
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 | $80.1M | — | ||
| Q4 25 | $81.6M | $86.0M | ||
| Q3 25 | $82.0M | $92.8M | ||
| Q2 25 | $81.1M | $85.8M | ||
| Q1 25 | $72.6M | $65.6M | ||
| Q4 24 | $74.0M | $91.4M | ||
| Q3 24 | $78.7M | $63.2M | ||
| Q2 24 | $75.8M | $73.8M |
| Q1 26 | $8.1M | — | ||
| Q4 25 | $10.4M | $1.2M | ||
| Q3 25 | $13.8M | $3.0M | ||
| Q2 25 | $14.0M | $21.4M | ||
| Q1 25 | $8.9M | $-24.2M | ||
| Q4 24 | $13.2M | $3.7M | ||
| Q3 24 | $14.3M | $-98.0K | ||
| Q2 24 | $11.0M | $-430.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | 13.0% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 17.7% |
| Q1 26 | — | — | ||
| Q4 25 | 15.6% | -3.1% | ||
| Q3 25 | 21.3% | 5.8% | ||
| Q2 25 | 21.5% | -0.1% | ||
| Q1 25 | 15.5% | -10.8% | ||
| Q4 24 | 22.7% | 3.9% | ||
| Q3 24 | 22.6% | -7.8% | ||
| Q2 24 | 18.1% | 4.8% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | 12.8% | 1.4% | ||
| Q3 25 | 16.9% | 3.2% | ||
| Q2 25 | 17.2% | 24.9% | ||
| Q1 25 | 12.3% | -37.0% | ||
| Q4 24 | 17.8% | 4.1% | ||
| Q3 24 | 18.2% | -0.2% | ||
| Q2 24 | 14.5% | -0.6% |
| Q1 26 | $0.43 | — | ||
| Q4 25 | $0.55 | $0.03 | ||
| Q3 25 | $0.72 | $0.08 | ||
| Q2 25 | $0.73 | $0.54 | ||
| Q1 25 | $0.47 | $-0.62 | ||
| Q4 24 | $0.69 | $0.10 | ||
| Q3 24 | $0.75 | $0.00 | ||
| 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 | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $34.2M | $22.6M |
| Total DebtLower is stronger | — | $15.0M |
| Stockholders' EquityBook value | $246.6M | $239.7M |
| Total Assets | — | $340.0M |
| Debt / EquityLower = less leverage | — | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.2M | — | ||
| Q4 25 | $61.9M | $22.6M | ||
| Q3 25 | $54.7M | $5.1M | ||
| Q2 25 | $48.5M | $4.3M | ||
| Q1 25 | $44.8M | $5.1M | ||
| Q4 24 | $44.1M | $1.6M | ||
| Q3 24 | $63.7M | $7.2M | ||
| Q2 24 | $30.6M | $6.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $15.0M | ||
| Q3 25 | — | $14.3M | ||
| Q2 25 | — | $23.5M | ||
| Q1 25 | — | $13.7M | ||
| Q4 24 | — | $14.7M | ||
| Q3 24 | — | $15.7M | ||
| Q2 24 | — | $17.1M |
| Q1 26 | $246.6M | — | ||
| Q4 25 | $251.6M | $239.7M | ||
| Q3 25 | $274.8M | $239.9M | ||
| Q2 25 | $265.6M | $240.5M | ||
| Q1 25 | $260.8M | $219.9M | ||
| Q4 24 | $257.3M | $243.8M | ||
| Q3 24 | $314.4M | $243.6M | ||
| Q2 24 | $301.0M | $242.9M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $340.0M | ||
| Q3 25 | $1.2B | $343.1M | ||
| Q2 25 | $1.2B | $345.8M | ||
| Q1 25 | $1.2B | $326.9M | ||
| Q4 24 | $1.2B | $341.5M | ||
| Q3 24 | $1.3B | $335.8M | ||
| Q2 24 | $1.2B | $341.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.07× |
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 | — | $22.4M |
| Free Cash FlowOCF − Capex | — | $20.4M |
| FCF MarginFCF / Revenue | — | 23.7% |
| Capex IntensityCapex / Revenue | — | 2.3% |
| Cash ConversionOCF / Net Profit | — | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | — | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $11.1M | $22.4M | ||
| Q3 25 | $10.7M | $18.2M | ||
| Q2 25 | $-8.4M | $-5.1M | ||
| Q1 25 | $-1.8M | $8.7M | ||
| Q4 24 | $24.2M | $1.0M | ||
| Q3 24 | $8.4M | $5.8M | ||
| Q2 24 | $-2.6M | $14.9M |
| Q1 26 | — | — | ||
| Q4 25 | $8.9M | $20.4M | ||
| Q3 25 | $9.8M | $14.8M | ||
| Q2 25 | $-9.5M | $-7.8M | ||
| Q1 25 | $-1.8M | $5.2M | ||
| Q4 24 | $23.4M | $-840.0K | ||
| Q3 24 | $8.4M | $3.7M | ||
| Q2 24 | $-2.6M | $13.5M |
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | 23.7% | ||
| Q3 25 | 11.9% | 15.9% | ||
| Q2 25 | -11.7% | -9.1% | ||
| Q1 25 | -2.5% | 7.9% | ||
| Q4 24 | 31.5% | -0.9% | ||
| Q3 24 | 10.7% | 5.8% | ||
| Q2 24 | -3.5% | 18.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 2.3% | ||
| Q3 25 | 1.1% | 3.6% | ||
| Q2 25 | 1.3% | 3.1% | ||
| Q1 25 | 0.0% | 5.4% | ||
| Q4 24 | 1.1% | 2.1% | ||
| Q3 24 | 0.0% | 3.4% | ||
| Q2 24 | 0.1% | 1.8% |
| Q1 26 | — | — | ||
| Q4 25 | 1.06× | 18.99× | ||
| Q3 25 | 0.77× | 6.05× | ||
| Q2 25 | -0.61× | -0.24× | ||
| Q1 25 | -0.20× | — | ||
| Q4 24 | 1.83× | 0.28× | ||
| Q3 24 | 0.59× | — | ||
| Q2 24 | -0.24× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMSF
Segment breakdown not available.
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
