vs
Side-by-side financial comparison of Applied Digital Corp. (APLD) and COLLEGIUM PHARMACEUTICAL, INC (COLL). Click either name above to swap in a different company.
COLLEGIUM PHARMACEUTICAL, INC is the larger business by last-quarter revenue ($205.4M vs $126.6M, roughly 1.6× Applied Digital Corp.). COLLEGIUM PHARMACEUTICAL, INC runs the higher net margin — 8.3% vs -11.4%, a 19.7% gap on every dollar of revenue. On growth, Applied Digital Corp. posted the faster year-over-year revenue change (98.2% vs 12.9%). COLLEGIUM PHARMACEUTICAL, INC produced more free cash flow last quarter ($122.4M vs $-567.9M). Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs 19.1%).
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.
Collegium Pharmaceutical, Inc. is a specialty pharmaceutical firm focused on developing and commercializing innovative, abuse-deterrent pain management therapies. Operating primarily in the U.S. market, it offers extended-release analgesics for chronic pain patients, serving providers across primary and specialty care segments.
APLD vs COLL — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $205.4M |
| Net Profit | $-14.4M | $17.0M |
| Gross Margin | 20.6% | 62.5% |
| Operating Margin | -24.5% | 29.6% |
| Net Margin | -11.4% | 8.3% |
| Revenue YoY | 98.2% | 12.9% |
| Net Profit YoY | 89.6% | 35.3% |
| EPS (diluted) | $-0.07 | $0.48 |
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 | $205.4M | ||
| Q3 25 | $64.2M | $209.4M | ||
| Q2 25 | $-33.3M | $188.0M | ||
| Q1 25 | $52.9M | $177.8M | ||
| Q4 24 | $63.9M | $181.9M | ||
| Q3 24 | $60.7M | $159.3M | ||
| Q2 24 | $43.7M | $145.3M | ||
| Q1 24 | $43.3M | $144.9M |
| Q4 25 | $-14.4M | $17.0M | ||
| Q3 25 | $-16.9M | $31.5M | ||
| Q2 25 | $-52.5M | $12.0M | ||
| Q1 25 | $-35.6M | $2.4M | ||
| Q4 24 | $-138.7M | $12.5M | ||
| Q3 24 | $-4.2M | $9.3M | ||
| Q2 24 | $-64.5M | $19.6M | ||
| Q1 24 | $-62.8M | $27.7M |
| Q4 25 | 20.6% | 62.5% | ||
| Q3 25 | 13.4% | 61.7% | ||
| Q2 25 | — | 57.7% | ||
| Q1 25 | 7.1% | 54.8% | ||
| Q4 24 | 18.0% | 54.0% | ||
| Q3 24 | -0.6% | 60.8% | ||
| Q2 24 | -9.1% | 62.5% | ||
| Q1 24 | -8.6% | 63.1% |
| Q4 25 | -24.5% | 29.6% | ||
| Q3 25 | -34.7% | 29.7% | ||
| Q2 25 | — | 18.7% | ||
| Q1 25 | -35.8% | 12.2% | ||
| Q4 24 | -29.1% | 20.9% | ||
| Q3 24 | 15.6% | 21.9% | ||
| Q2 24 | -68.4% | 32.7% | ||
| Q1 24 | -128.8% | 34.1% |
| Q4 25 | -11.4% | 8.3% | ||
| Q3 25 | -26.4% | 15.0% | ||
| Q2 25 | 157.8% | 6.4% | ||
| Q1 25 | -67.2% | 1.4% | ||
| Q4 24 | -217.2% | 6.9% | ||
| Q3 24 | -7.0% | 5.9% | ||
| Q2 24 | -147.5% | 13.5% | ||
| Q1 24 | -145.0% | 19.1% |
| Q4 25 | $-0.07 | $0.48 | ||
| Q3 25 | $-0.07 | $0.84 | ||
| Q2 25 | $-0.31 | $0.34 | ||
| Q1 25 | $-0.16 | $0.07 | ||
| Q4 24 | $-0.66 | $0.36 | ||
| Q3 24 | $-0.03 | $0.27 | ||
| Q2 24 | $-0.57 | $0.52 | ||
| Q1 24 | $-0.52 | $0.71 |
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 | $386.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $301.7M |
| Total Assets | $5.2B | $1.7B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $386.7M | ||
| Q3 25 | $73.9M | $285.9M | ||
| Q2 25 | $41.6M | $222.2M | ||
| Q1 25 | $68.7M | $197.8M | ||
| Q4 24 | $286.2M | $162.8M | ||
| Q3 24 | $58.2M | $120.0M | ||
| Q2 24 | $3.3M | $271.6M | ||
| Q1 24 | $4.4M | $318.0M |
| Q4 25 | $1.4B | $301.7M | ||
| Q3 25 | $1.0B | $274.8M | ||
| Q2 25 | $497.7M | $232.2M | ||
| Q1 25 | $454.6M | $234.4M | ||
| Q4 24 | $434.6M | $228.8M | ||
| Q3 24 | $241.8M | $234.3M | ||
| Q2 24 | $124.8M | $216.6M | ||
| Q1 24 | $118.5M | $222.2M |
| Q4 25 | $5.2B | $1.7B | ||
| Q3 25 | $2.4B | $1.6B | ||
| Q2 25 | $1.9B | $1.6B | ||
| Q1 25 | $1.7B | $1.6B | ||
| Q4 24 | $1.5B | $1.7B | ||
| Q3 24 | $937.7M | $1.6B | ||
| Q2 24 | $762.9M | $1.1B | ||
| Q1 24 | $643.2M | $1.1B |
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 | $123.0M |
| Free Cash FlowOCF − Capex | $-567.9M | $122.4M |
| FCF MarginFCF / Revenue | -448.6% | 59.6% |
| Capex IntensityCapex / Revenue | 436.1% | 0.3% |
| Cash ConversionOCF / Net Profit | — | 7.25× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | $327.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.8M | $123.0M | ||
| Q3 25 | $-82.0M | $78.4M | ||
| Q2 25 | $6.9M | $72.4M | ||
| Q1 25 | $5.9M | $55.4M | ||
| Q4 24 | $-52.3M | $84.6M | ||
| Q3 24 | $-75.9M | $-9.0M | ||
| Q2 24 | $-34.1M | $67.4M | ||
| Q1 24 | $38.8M | $61.9M |
| Q4 25 | $-567.9M | $122.4M | ||
| Q3 25 | $-331.4M | $78.3M | ||
| Q2 25 | $-191.4M | $72.4M | ||
| Q1 25 | $-251.6M | $54.6M | ||
| Q4 24 | $-223.3M | $84.1M | ||
| Q3 24 | $-130.7M | $-9.2M | ||
| Q2 24 | $-88.9M | $67.1M | ||
| Q1 24 | $-2.3M | $61.4M |
| Q4 25 | -448.6% | 59.6% | ||
| Q3 25 | -516.1% | 37.4% | ||
| Q2 25 | 574.8% | 38.5% | ||
| Q1 25 | -475.4% | 30.7% | ||
| Q4 24 | -349.6% | 46.2% | ||
| Q3 24 | -215.3% | -5.8% | ||
| Q2 24 | -203.5% | 46.2% | ||
| Q1 24 | -5.4% | 42.3% |
| Q4 25 | 436.1% | 0.3% | ||
| Q3 25 | 388.4% | 0.1% | ||
| Q2 25 | -595.4% | 0.0% | ||
| Q1 25 | 486.6% | 0.4% | ||
| Q4 24 | 267.8% | 0.3% | ||
| Q3 24 | 90.3% | 0.2% | ||
| Q2 24 | 125.4% | 0.2% | ||
| Q1 24 | 95.0% | 0.4% |
| Q4 25 | — | 7.25× | ||
| Q3 25 | — | 2.49× | ||
| Q2 25 | — | 6.05× | ||
| Q1 25 | — | 22.92× | ||
| Q4 24 | — | 6.75× | ||
| Q3 24 | — | -0.96× | ||
| Q2 24 | — | 3.44× | ||
| Q1 24 | — | 2.23× |
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% |
COLL
Segment breakdown not available.
