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Side-by-side financial comparison of AMERISAFE INC (AMSF) and Vanda Pharmaceuticals Inc. (VNDA). Click either name above to swap in a different company.
AMERISAFE INC is the larger business by last-quarter revenue ($80.1M vs $57.2M, roughly 1.4× Vanda Pharmaceuticals Inc.). AMERISAFE INC runs the higher net margin — 10.2% vs -246.8%, a 256.9% gap on every dollar of revenue. On growth, AMERISAFE INC posted the faster year-over-year revenue change (10.3% vs 7.6%). Over the past eight quarters, Vanda Pharmaceuticals Inc.'s revenue compounded faster (9.8% 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.
Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on developing and commercializing innovative therapies for central nervous system disorders. Its key marketed products cover indications including sleep-wake cycle disturbances and schizophrenia, with core operations and primary sales markets concentrated in North America, catering to patient groups with significant unmet medical needs.
AMSF vs VNDA — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $80.1M | $57.2M |
| Net Profit | $8.1M | $-141.2M |
| Gross Margin | — | — |
| Operating Margin | — | -70.5% |
| Net Margin | 10.2% | -246.8% |
| Revenue YoY | 10.3% | 7.6% |
| Net Profit YoY | -9.0% | -2774.3% |
| EPS (diluted) | $0.43 | $-2.40 |
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 | $57.2M | ||
| Q3 25 | $82.0M | $56.3M | ||
| Q2 25 | $81.1M | $52.6M | ||
| Q1 25 | $72.6M | $50.0M | ||
| Q4 24 | $74.0M | $53.2M | ||
| Q3 24 | $78.7M | $47.7M | ||
| Q2 24 | $75.8M | $50.5M |
| Q1 26 | $8.1M | — | ||
| Q4 25 | $10.4M | $-141.2M | ||
| Q3 25 | $13.8M | $-22.6M | ||
| Q2 25 | $14.0M | $-27.2M | ||
| Q1 25 | $8.9M | $-29.5M | ||
| Q4 24 | $13.2M | $-4.9M | ||
| Q3 24 | $14.3M | $-5.3M | ||
| Q2 24 | $11.0M | $-4.5M |
| Q1 26 | — | — | ||
| Q4 25 | 15.6% | -70.5% | ||
| Q3 25 | 21.3% | -55.6% | ||
| Q2 25 | 21.5% | -73.2% | ||
| Q1 25 | 15.5% | -82.0% | ||
| Q4 24 | 22.7% | -19.3% | ||
| Q3 24 | 22.6% | -23.1% | ||
| Q2 24 | 18.1% | -20.1% |
| Q1 26 | 10.2% | — | ||
| Q4 25 | 12.8% | -246.8% | ||
| Q3 25 | 16.9% | -40.1% | ||
| Q2 25 | 17.2% | -51.7% | ||
| Q1 25 | 12.3% | -58.9% | ||
| Q4 24 | 17.8% | -9.2% | ||
| Q3 24 | 18.2% | -11.2% | ||
| Q2 24 | 14.5% | -9.0% |
| Q1 26 | $0.43 | — | ||
| Q4 25 | $0.55 | $-2.40 | ||
| Q3 25 | $0.72 | $-0.38 | ||
| Q2 25 | $0.73 | $-0.46 | ||
| Q1 25 | $0.47 | $-0.50 | ||
| Q4 24 | $0.69 | $-0.09 | ||
| Q3 24 | $0.75 | $-0.09 | ||
| Q2 24 | $0.57 | $-0.08 |
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 | $84.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $246.6M | $327.2M |
| Total Assets | — | $488.9M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $34.2M | — | ||
| Q4 25 | $61.9M | $84.9M | ||
| Q3 25 | $54.7M | $70.0M | ||
| Q2 25 | $48.5M | $81.0M | ||
| Q1 25 | $44.8M | $111.8M | ||
| Q4 24 | $44.1M | $102.3M | ||
| Q3 24 | $63.7M | $100.5M | ||
| Q2 24 | $30.6M | $103.0M |
| Q1 26 | $246.6M | — | ||
| Q4 25 | $251.6M | $327.2M | ||
| Q3 25 | $274.8M | $466.0M | ||
| Q2 25 | $265.6M | $486.3M | ||
| Q1 25 | $260.8M | $511.4M | ||
| Q4 24 | $257.3M | $538.5M | ||
| Q3 24 | $314.4M | $541.2M | ||
| Q2 24 | $301.0M | $542.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $488.9M | ||
| Q3 25 | $1.2B | $601.1M | ||
| Q2 25 | $1.2B | $624.7M | ||
| Q1 25 | $1.2B | $631.9M | ||
| Q4 24 | $1.2B | $656.2M | ||
| Q3 24 | $1.3B | $645.1M | ||
| Q2 24 | $1.2B | $651.4M |
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 | — | $-29.4M |
| Free Cash FlowOCF − Capex | — | $-29.5M |
| FCF MarginFCF / Revenue | — | -51.6% |
| Capex IntensityCapex / Revenue | — | 0.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-110.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $11.1M | $-29.4M | ||
| Q3 25 | $10.7M | $-31.6M | ||
| Q2 25 | $-8.4M | $-15.3M | ||
| Q1 25 | $-1.8M | $-33.1M | ||
| Q4 24 | $24.2M | $-1.8M | ||
| Q3 24 | $8.4M | $-14.6M | ||
| Q2 24 | $-2.6M | $-6.9M |
| Q1 26 | — | — | ||
| Q4 25 | $8.9M | $-29.5M | ||
| Q3 25 | $9.8M | $-31.8M | ||
| Q2 25 | $-9.5M | $-15.6M | ||
| Q1 25 | $-1.8M | $-33.6M | ||
| Q4 24 | $23.4M | $-2.0M | ||
| Q3 24 | $8.4M | $-14.7M | ||
| Q2 24 | $-2.6M | $-7.0M |
| Q1 26 | — | — | ||
| Q4 25 | 10.9% | -51.6% | ||
| Q3 25 | 11.9% | -56.5% | ||
| Q2 25 | -11.7% | -29.6% | ||
| Q1 25 | -2.5% | -67.1% | ||
| Q4 24 | 31.5% | -3.8% | ||
| Q3 24 | 10.7% | -30.9% | ||
| Q2 24 | -3.5% | -13.9% |
| Q1 26 | — | — | ||
| Q4 25 | 2.6% | 0.2% | ||
| Q3 25 | 1.1% | 0.3% | ||
| Q2 25 | 1.3% | 0.6% | ||
| Q1 25 | 0.0% | 0.9% | ||
| Q4 24 | 1.1% | 0.4% | ||
| Q3 24 | 0.0% | 0.3% | ||
| Q2 24 | 0.1% | 0.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.06× | — | ||
| Q3 25 | 0.77× | — | ||
| Q2 25 | -0.61× | — | ||
| Q1 25 | -0.20× | — | ||
| Q4 24 | 1.83× | — | ||
| 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.
VNDA
| Fanapt | $33.2M | 58% |
| Hetlioz | $16.4M | 29% |
| PONVORY | $7.6M | 13% |
