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Side-by-side financial comparison of Anghami Inc (ANGH) and Elauwit Connection, Inc. (ELWT). Click either name above to swap in a different company.
Anghami Inc is the larger business by last-quarter revenue ($18.9M vs $4.8M, roughly 4.0× Elauwit Connection, Inc.). Elauwit Connection, Inc. runs the higher net margin — -13.4% vs -63.2%, a 49.9% gap on every dollar of revenue.
Anghami is the first legal music streaming platform and digital distribution company in the Arab world. It launched in November 2012 in Lebanon, providing unlimited Arabic and international music to stream and download for offline mode.
ANGH vs ELWT — Head-to-Head
Income Statement — Q2 2024 vs Q3 2025
| Metric | | |
|---|---|---|
| Revenue | $18.9M | $4.8M |
| Net Profit | $-12.0M | $-639.0K |
| Gross Margin | 17.4% | 29.7% |
| Operating Margin | -52.2% | -7.4% |
| Net Margin | -63.2% | -13.4% |
| Revenue YoY | — | — |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $-0.13 |
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.
| Q3 25 | — | $4.8M | ||
| Q2 24 | $18.9M | — | ||
| Q2 23 | $21.0M | — | ||
| Q2 22 | $12.6M | — |
| Q3 25 | — | $-639.0K | ||
| Q2 24 | $-12.0M | — | ||
| Q2 23 | $-57.7M | — | ||
| Q2 22 | — | — |
| Q3 25 | — | 29.7% | ||
| Q2 24 | 17.4% | — | ||
| Q2 23 | 14.0% | — | ||
| Q2 22 | 31.9% | — |
| Q3 25 | — | -7.4% | ||
| Q2 24 | -52.2% | — | ||
| Q2 23 | -65.0% | — | ||
| Q2 22 | -38.5% | — |
| Q3 25 | — | -13.4% | ||
| Q2 24 | -63.2% | — | ||
| Q2 23 | -274.2% | — | ||
| Q2 22 | — | — |
| Q3 25 | — | $-0.13 | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $26.9M | $762.0K |
| Total DebtLower is stronger | — | $4.2M |
| Stockholders' EquityBook value | $94.6M | $-6.4M |
| Total Assets | $143.1M | $7.7M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $762.0K | ||
| Q2 24 | $26.9M | — | ||
| Q2 23 | $1.3M | — | ||
| Q2 22 | — | — |
| Q3 25 | — | $4.2M | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | — | — |
| Q3 25 | — | $-6.4M | ||
| Q2 24 | $94.6M | — | ||
| Q2 23 | $-18.7M | — | ||
| Q2 22 | — | — |
| Q3 25 | — | $7.7M | ||
| Q2 24 | $143.1M | — | ||
| Q2 23 | $20.5M | — | ||
| Q2 22 | — | — |
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 | — | $-1.3M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q3 25 | — | $-1.3M | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | $-4.1M | — |
| Q3 25 | — | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | $-4.2M | — |
| Q3 25 | — | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | -33.0% | — |
| Q3 25 | — | — | ||
| Q2 24 | — | — | ||
| Q2 23 | — | — | ||
| Q2 22 | 0.5% | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
