vs
Side-by-side financial comparison of Applied Digital Corp. (APLD) and Axsome Therapeutics, Inc. (AXSM). Click either name above to swap in a different company.
Axsome Therapeutics, Inc. is the larger business by last-quarter revenue ($196.0M vs $126.6M, roughly 1.5× Applied Digital Corp.). Applied Digital Corp. runs the higher net margin — -11.4% vs -14.6%, a 3.2% gap on every dollar of revenue. On growth, Applied Digital Corp. posted the faster year-over-year revenue change (98.2% vs 65.0%). Axsome Therapeutics, Inc. produced more free cash flow last quarter ($-18.7M vs $-567.9M). Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs 61.7%).
BAE Systems Digital Intelligence is an international defence and security technology firm owned by BAE Systems. They specialize in delivering digital solutions that enable rapid, data-driven decision-making. Their services, solutions and products span customers in Law Enforcement, National Security, Government Departments and Government Enterprises, Critical National Infrastructure, Telecommunications, the Military, and Space.
Jazz Pharmaceuticals plc is a global biopharmaceutical company with a focus on oncology and neuroscience. It was founded in 2003 in California, United States and is now headquartered in Dublin, Ireland.
APLD vs AXSM — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $196.0M |
| Net Profit | $-14.4M | $-28.6M |
| Gross Margin | 20.6% | — |
| Operating Margin | -24.5% | -13.8% |
| Net Margin | -11.4% | -14.6% |
| Revenue YoY | 98.2% | 65.0% |
| Net Profit YoY | 89.6% | 61.9% |
| EPS (diluted) | $-0.07 | $-0.55 |
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 | $126.6M | $196.0M | ||
| Q3 25 | $64.2M | $171.0M | ||
| Q2 25 | $-33.3M | $150.0M | ||
| Q1 25 | $52.9M | $121.5M | ||
| Q4 24 | $63.9M | $118.8M | ||
| Q3 24 | $60.7M | $104.8M | ||
| Q2 24 | $43.7M | $87.2M | ||
| Q1 24 | $43.3M | $75.0M |
| Q4 25 | $-14.4M | $-28.6M | ||
| Q3 25 | $-16.9M | $-47.2M | ||
| Q2 25 | $-52.5M | $-48.0M | ||
| Q1 25 | $-35.6M | $-59.4M | ||
| Q4 24 | $-138.7M | $-74.9M | ||
| Q3 24 | $-4.2M | $-64.6M | ||
| Q2 24 | $-64.5M | $-79.3M | ||
| Q1 24 | $-62.8M | $-68.4M |
| Q4 25 | 20.6% | — | ||
| Q3 25 | 13.4% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 7.1% | — | ||
| Q4 24 | 18.0% | — | ||
| Q3 24 | -0.6% | — | ||
| Q2 24 | -9.1% | — | ||
| Q1 24 | -8.6% | — |
| Q4 25 | -24.5% | -13.8% | ||
| Q3 25 | -34.7% | -27.0% | ||
| Q2 25 | — | -24.5% | ||
| Q1 25 | -35.8% | -46.9% | ||
| Q4 24 | -29.1% | -61.1% | ||
| Q3 24 | 15.6% | -59.8% | ||
| Q2 24 | -68.4% | -89.5% | ||
| Q1 24 | -128.8% | -89.7% |
| Q4 25 | -11.4% | -14.6% | ||
| Q3 25 | -26.4% | -27.6% | ||
| Q2 25 | 157.8% | -32.0% | ||
| Q1 25 | -67.2% | -48.9% | ||
| Q4 24 | -217.2% | -63.1% | ||
| Q3 24 | -7.0% | -61.7% | ||
| Q2 24 | -147.5% | -91.0% | ||
| Q1 24 | -145.0% | -91.1% |
| Q4 25 | $-0.07 | $-0.55 | ||
| Q3 25 | $-0.07 | $-0.94 | ||
| Q2 25 | $-0.31 | $-0.97 | ||
| Q1 25 | $-0.16 | $-1.22 | ||
| Q4 24 | $-0.66 | $-1.54 | ||
| Q3 24 | $-0.03 | $-1.34 | ||
| Q2 24 | $-0.57 | $-1.67 | ||
| Q1 24 | $-0.52 | $-1.44 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.9B | $322.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $88.3M |
| Total Assets | $5.2B | $689.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $322.9M | ||
| Q3 25 | $73.9M | $325.3M | ||
| Q2 25 | $41.6M | $303.0M | ||
| Q1 25 | $68.7M | $300.9M | ||
| Q4 24 | $286.2M | $315.4M | ||
| Q3 24 | $58.2M | $327.3M | ||
| Q2 24 | $3.3M | $315.7M | ||
| Q1 24 | $4.4M | $331.4M |
| Q4 25 | $1.4B | $88.3M | ||
| Q3 25 | $1.0B | $73.7M | ||
| Q2 25 | $497.7M | $73.1M | ||
| Q1 25 | $454.6M | $53.2M | ||
| Q4 24 | $434.6M | $57.0M | ||
| Q3 24 | $241.8M | $92.9M | ||
| Q2 24 | $124.8M | $102.9M | ||
| Q1 24 | $118.5M | $144.0M |
| Q4 25 | $5.2B | $689.8M | ||
| Q3 25 | $2.4B | $669.3M | ||
| Q2 25 | $1.9B | $639.8M | ||
| Q1 25 | $1.7B | $596.7M | ||
| Q4 24 | $1.5B | $568.5M | ||
| Q3 24 | $937.7M | $561.5M | ||
| Q2 24 | $762.9M | $548.2M | ||
| Q1 24 | $643.2M | $545.7M |
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 | $-15.8M | $-18.7M |
| Free Cash FlowOCF − Capex | $-567.9M | $-18.7M |
| FCF MarginFCF / Revenue | -448.6% | -9.6% |
| Capex IntensityCapex / Revenue | 436.1% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | $-93.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.8M | $-18.7M | ||
| Q3 25 | $-82.0M | $1.0M | ||
| Q2 25 | $6.9M | $-32.4M | ||
| Q1 25 | $5.9M | $-43.4M | ||
| Q4 24 | $-52.3M | $-26.2M | ||
| Q3 24 | $-75.9M | $-18.6M | ||
| Q2 24 | $-34.1M | $-30.1M | ||
| Q1 24 | $38.8M | $-53.5M |
| Q4 25 | $-567.9M | $-18.7M | ||
| Q3 25 | $-331.4M | $988.0K | ||
| Q2 25 | $-191.4M | $-32.4M | ||
| Q1 25 | $-251.6M | $-43.7M | ||
| Q4 24 | $-223.3M | $-26.2M | ||
| Q3 24 | $-130.7M | $-18.7M | ||
| Q2 24 | $-88.9M | $-30.2M | ||
| Q1 24 | $-2.3M | $-53.6M |
| Q4 25 | -448.6% | -9.6% | ||
| Q3 25 | -516.1% | 0.6% | ||
| Q2 25 | 574.8% | -21.6% | ||
| Q1 25 | -475.4% | -36.0% | ||
| Q4 24 | -349.6% | -22.1% | ||
| Q3 24 | -215.3% | -17.9% | ||
| Q2 24 | -203.5% | -34.6% | ||
| Q1 24 | -5.4% | -71.4% |
| Q4 25 | 436.1% | 0.0% | ||
| Q3 25 | 388.4% | 0.0% | ||
| Q2 25 | -595.4% | 0.0% | ||
| Q1 25 | 486.6% | 0.3% | ||
| Q4 24 | 267.8% | 0.0% | ||
| Q3 24 | 90.3% | 0.1% | ||
| Q2 24 | 125.4% | 0.1% | ||
| Q1 24 | 95.0% | 0.1% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
APLD
| HPC Hosting Business | $85.0M | 67% |
| Data Center Hosting Business | $41.6M | 33% |
AXSM
Segment breakdown not available.
