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Side-by-side financial comparison of Applied Digital Corp. (APLD) and Origin Bancorp, Inc. (OBK). Click either name above to swap in a different company.
Applied Digital Corp. is the larger business by last-quarter revenue ($126.6M vs $104.0M, roughly 1.2× Origin Bancorp, Inc.). Origin Bancorp, Inc. runs the higher net margin — 26.6% vs -11.4%, a 38.0% gap on every dollar of revenue. Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs 3.9%).
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.
Southern Bancorp is a community development financial institution headquartered in Arkadelphia, Arkansas. It was founded in 1986 as Southern Development Bancorporation, and is often referred to simply as "Southern".
APLD vs OBK — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $104.0M |
| Net Profit | $-14.4M | $27.7M |
| Gross Margin | 20.6% | — |
| Operating Margin | -24.5% | — |
| Net Margin | -11.4% | 26.6% |
| Revenue YoY | 98.2% | — |
| Net Profit YoY | 89.6% | -6.2% |
| EPS (diluted) | $-0.07 | $0.89 |
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 | — | $104.0M | ||
| Q4 25 | $126.6M | $103.4M | ||
| Q3 25 | $64.2M | $109.8M | ||
| Q2 25 | $-33.3M | $83.5M | ||
| Q1 25 | $52.9M | $94.1M | ||
| Q4 24 | $63.9M | $78.3M | ||
| Q3 24 | $60.7M | $90.8M | ||
| Q2 24 | $43.7M | $96.4M |
| Q1 26 | — | $27.7M | ||
| Q4 25 | $-14.4M | $29.5M | ||
| Q3 25 | $-16.9M | $8.6M | ||
| Q2 25 | $-52.5M | $14.6M | ||
| Q1 25 | $-35.6M | $22.4M | ||
| Q4 24 | $-138.7M | $14.3M | ||
| Q3 24 | $-4.2M | $18.6M | ||
| Q2 24 | $-64.5M | $21.0M |
| Q1 26 | — | — | ||
| 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 26 | — | — | ||
| Q4 25 | -24.5% | 36.2% | ||
| Q3 25 | -34.7% | 10.0% | ||
| Q2 25 | — | 22.3% | ||
| Q1 25 | -35.8% | 30.4% | ||
| Q4 24 | -29.1% | 23.0% | ||
| Q3 24 | 15.6% | 26.1% | ||
| Q2 24 | -68.4% | 27.7% |
| Q1 26 | — | 26.6% | ||
| Q4 25 | -11.4% | 28.5% | ||
| Q3 25 | -26.4% | 7.9% | ||
| Q2 25 | 157.8% | 17.5% | ||
| Q1 25 | -67.2% | 23.8% | ||
| Q4 24 | -217.2% | 18.2% | ||
| Q3 24 | -7.0% | 20.5% | ||
| Q2 24 | -147.5% | 21.8% |
| Q1 26 | — | $0.89 | ||
| Q4 25 | $-0.07 | $0.95 | ||
| Q3 25 | $-0.07 | $0.27 | ||
| Q2 25 | $-0.31 | $0.47 | ||
| Q1 25 | $-0.16 | $0.71 | ||
| Q4 24 | $-0.66 | $0.45 | ||
| Q3 24 | $-0.03 | $0.60 | ||
| Q2 24 | $-0.57 | $0.67 |
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 | — | — |
| Stockholders' EquityBook value | $1.4B | $1.3B |
| Total Assets | $5.2B | $10.2B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | $424.2M | ||
| Q3 25 | $73.9M | $626.9M | ||
| Q2 25 | $41.6M | $334.1M | ||
| Q1 25 | $68.7M | $486.2M | ||
| Q4 24 | $286.2M | $470.2M | ||
| Q3 24 | $58.2M | $321.2M | ||
| Q2 24 | $3.3M | $288.1M |
| Q1 26 | — | $1.3B | ||
| Q4 25 | $1.4B | $1.2B | ||
| Q3 25 | $1.0B | $1.2B | ||
| Q2 25 | $497.7M | $1.2B | ||
| Q1 25 | $454.6M | $1.2B | ||
| Q4 24 | $434.6M | $1.1B | ||
| Q3 24 | $241.8M | $1.1B | ||
| Q2 24 | $124.8M | $1.1B |
| Q1 26 | — | $10.2B | ||
| Q4 25 | $5.2B | $9.7B | ||
| Q3 25 | $2.4B | $9.8B | ||
| Q2 25 | $1.9B | $9.7B | ||
| Q1 25 | $1.7B | $9.8B | ||
| Q4 24 | $1.5B | $9.7B | ||
| Q3 24 | $937.7M | $10.0B | ||
| Q2 24 | $762.9M | $9.9B |
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 | — |
| Free Cash FlowOCF − Capex | $-567.9M | — |
| FCF MarginFCF / Revenue | -448.6% | — |
| Capex IntensityCapex / Revenue | 436.1% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-15.8M | $158.9M | ||
| Q3 25 | $-82.0M | $59.3M | ||
| Q2 25 | $6.9M | $20.6M | ||
| Q1 25 | $5.9M | $35.6M | ||
| Q4 24 | $-52.3M | $108.5M | ||
| Q3 24 | $-75.9M | $39.6M | ||
| Q2 24 | $-34.1M | $11.9M |
| Q1 26 | — | — | ||
| Q4 25 | $-567.9M | $151.1M | ||
| Q3 25 | $-331.4M | $56.8M | ||
| Q2 25 | $-191.4M | $19.6M | ||
| Q1 25 | $-251.6M | $34.8M | ||
| Q4 24 | $-223.3M | $86.4M | ||
| Q3 24 | $-130.7M | $32.2M | ||
| Q2 24 | $-88.9M | $6.5M |
| Q1 26 | — | — | ||
| Q4 25 | -448.6% | 146.0% | ||
| Q3 25 | -516.1% | 51.7% | ||
| Q2 25 | 574.8% | 23.5% | ||
| Q1 25 | -475.4% | 37.0% | ||
| Q4 24 | -349.6% | 110.3% | ||
| Q3 24 | -215.3% | 35.5% | ||
| Q2 24 | -203.5% | 6.8% |
| Q1 26 | — | — | ||
| Q4 25 | 436.1% | 7.6% | ||
| Q3 25 | 388.4% | 2.3% | ||
| Q2 25 | -595.4% | 1.2% | ||
| Q1 25 | 486.6% | 0.8% | ||
| Q4 24 | 267.8% | 28.1% | ||
| Q3 24 | 90.3% | 8.1% | ||
| Q2 24 | 125.4% | 5.6% |
| Q1 26 | — | — | ||
| Q4 25 | — | 5.38× | ||
| Q3 25 | — | 6.88× | ||
| Q2 25 | — | 1.41× | ||
| Q1 25 | — | 1.59× | ||
| Q4 24 | — | 7.60× | ||
| Q3 24 | — | 2.13× | ||
| Q2 24 | — | 0.57× |
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% |
OBK
| Net Interest Income | $87.2M | 84% |
| Noninterest Income | $16.8M | 16% |
