vs
Side-by-side financial comparison of Applied Digital Corp. (APLD) and InvenTrust Properties Corp. (IVT). Click either name above to swap in a different company.
Applied Digital Corp. is the larger business by last-quarter revenue ($126.6M vs $77.4M, roughly 1.6× InvenTrust Properties Corp.). InvenTrust Properties Corp. runs the higher net margin — 3.4% vs -11.4%, a 14.9% gap on every dollar of revenue. On growth, Applied Digital Corp. posted the faster year-over-year revenue change (98.2% vs 8.6%). InvenTrust Properties Corp. produced more free cash flow last quarter ($110.9M vs $-567.9M). Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs 7.6%).
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.
InvenTrust Properties Corp. is a real estate investment trust that invests in shopping malls. As of December 31, 2024, the company owned interests in 68 properties comprising 11.0 million square feet.
APLD vs IVT — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $77.4M |
| Net Profit | $-14.4M | $2.7M |
| Gross Margin | 20.6% | — |
| Operating Margin | -24.5% | -11.0% |
| Net Margin | -11.4% | 3.4% |
| Revenue YoY | 98.2% | 8.6% |
| Net Profit YoY | 89.6% | -72.8% |
| EPS (diluted) | $-0.07 | $0.02 |
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 | $77.4M | ||
| Q3 25 | $64.2M | $74.5M | ||
| Q2 25 | $-33.3M | $73.6M | ||
| Q1 25 | $52.9M | $73.8M | ||
| Q4 24 | $63.9M | $71.2M | ||
| Q3 24 | $60.7M | $68.5M | ||
| Q2 24 | $43.7M | $67.4M | ||
| Q1 24 | $43.3M | $66.8M |
| Q4 25 | $-14.4M | $2.7M | ||
| Q3 25 | $-16.9M | $6.0M | ||
| Q2 25 | $-52.5M | $95.9M | ||
| Q1 25 | $-35.6M | $6.8M | ||
| Q4 24 | $-138.7M | $9.8M | ||
| Q3 24 | $-4.2M | $-539.0K | ||
| Q2 24 | $-64.5M | $1.5M | ||
| Q1 24 | $-62.8M | $2.9M |
| 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% | -11.0% | ||
| Q3 25 | -34.7% | -9.8% | ||
| Q2 25 | — | — | ||
| Q1 25 | -35.8% | -10.5% | ||
| Q4 24 | -29.1% | -3.6% | ||
| Q3 24 | 15.6% | -18.7% | ||
| Q2 24 | -68.4% | -13.6% | ||
| Q1 24 | -128.8% | -13.1% |
| Q4 25 | -11.4% | 3.4% | ||
| Q3 25 | -26.4% | 8.1% | ||
| Q2 25 | 157.8% | 130.4% | ||
| Q1 25 | -67.2% | 9.2% | ||
| Q4 24 | -217.2% | 13.8% | ||
| Q3 24 | -7.0% | -0.8% | ||
| Q2 24 | -147.5% | 2.2% | ||
| Q1 24 | -145.0% | 4.3% |
| Q4 25 | $-0.07 | $0.02 | ||
| Q3 25 | $-0.07 | $0.08 | ||
| Q2 25 | $-0.31 | $1.23 | ||
| Q1 25 | $-0.16 | $0.09 | ||
| Q4 24 | $-0.66 | $0.14 | ||
| Q3 24 | $-0.03 | $-0.01 | ||
| Q2 24 | $-0.57 | $0.02 | ||
| Q1 24 | $-0.52 | $0.04 |
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 | — |
| Total DebtLower is stronger | — | $825.9M |
| Stockholders' EquityBook value | $1.4B | $1.8B |
| Total Assets | $5.2B | $2.8B |
| Debt / EquityLower = less leverage | — | 0.46× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | — | ||
| Q3 25 | $73.9M | — | ||
| Q2 25 | $41.6M | — | ||
| Q1 25 | $68.7M | — | ||
| Q4 24 | $286.2M | — | ||
| Q3 24 | $58.2M | — | ||
| Q2 24 | $3.3M | — | ||
| Q1 24 | $4.4M | — |
| Q4 25 | — | $825.9M | ||
| Q3 25 | — | $764.6M | ||
| Q2 25 | — | $746.3M | ||
| Q1 25 | — | $740.7M | ||
| Q4 24 | — | $740.4M | ||
| Q3 24 | — | $740.1M | ||
| Q2 24 | — | $812.2M | ||
| Q1 24 | — | $827.5M |
| Q4 25 | $1.4B | $1.8B | ||
| Q3 25 | $1.0B | $1.8B | ||
| Q2 25 | $497.7M | $1.8B | ||
| Q1 25 | $454.6M | $1.7B | ||
| Q4 24 | $434.6M | $1.8B | ||
| Q3 24 | $241.8M | $1.8B | ||
| Q2 24 | $124.8M | $1.5B | ||
| Q1 24 | $118.5M | $1.5B |
| Q4 25 | $5.2B | $2.8B | ||
| Q3 25 | $2.4B | $2.7B | ||
| Q2 25 | $1.9B | $2.7B | ||
| Q1 25 | $1.7B | $2.6B | ||
| Q4 24 | $1.5B | $2.6B | ||
| Q3 24 | $937.7M | $2.6B | ||
| Q2 24 | $762.9M | $2.5B | ||
| Q1 24 | $643.2M | $2.5B |
| Q4 25 | — | 0.46× | ||
| Q3 25 | — | 0.42× | ||
| Q2 25 | — | 0.41× | ||
| Q1 25 | — | 0.42× | ||
| Q4 24 | — | 0.42× | ||
| Q3 24 | — | 0.42× | ||
| Q2 24 | — | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $155.4M |
| Free Cash FlowOCF − Capex | $-567.9M | $110.9M |
| FCF MarginFCF / Revenue | -448.6% | 143.3% |
| Capex IntensityCapex / Revenue | 436.1% | 57.5% |
| Cash ConversionOCF / Net Profit | — | 58.41× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | $193.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.8M | $155.4M | ||
| Q3 25 | $-82.0M | $43.8M | ||
| Q2 25 | $6.9M | $48.7M | ||
| Q1 25 | $5.9M | $20.2M | ||
| Q4 24 | $-52.3M | $136.9M | ||
| Q3 24 | $-75.9M | $38.4M | ||
| Q2 24 | $-34.1M | $46.7M | ||
| Q1 24 | $38.8M | $14.8M |
| Q4 25 | $-567.9M | $110.9M | ||
| Q3 25 | $-331.4M | $31.4M | ||
| Q2 25 | $-191.4M | $38.0M | ||
| Q1 25 | $-251.6M | $12.8M | ||
| Q4 24 | $-223.3M | $100.8M | ||
| Q3 24 | $-130.7M | $29.3M | ||
| Q2 24 | $-88.9M | $37.2M | ||
| Q1 24 | $-2.3M | $7.7M |
| Q4 25 | -448.6% | 143.3% | ||
| Q3 25 | -516.1% | 42.2% | ||
| Q2 25 | 574.8% | 51.6% | ||
| Q1 25 | -475.4% | 17.4% | ||
| Q4 24 | -349.6% | 141.5% | ||
| Q3 24 | -215.3% | 42.8% | ||
| Q2 24 | -203.5% | 55.2% | ||
| Q1 24 | -5.4% | 11.5% |
| Q4 25 | 436.1% | 57.5% | ||
| Q3 25 | 388.4% | 16.7% | ||
| Q2 25 | -595.4% | 14.6% | ||
| Q1 25 | 486.6% | 10.0% | ||
| Q4 24 | 267.8% | 50.7% | ||
| Q3 24 | 90.3% | 13.3% | ||
| Q2 24 | 125.4% | 14.0% | ||
| Q1 24 | 95.0% | 10.6% |
| Q4 25 | — | 58.41× | ||
| Q3 25 | — | 7.27× | ||
| Q2 25 | — | 0.51× | ||
| Q1 25 | — | 2.97× | ||
| Q4 24 | — | 13.97× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 31.15× | ||
| Q1 24 | — | 5.10× |
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% |
IVT
Segment breakdown not available.
