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Side-by-side financial comparison of Applied Digital Corp. (APLD) and RE/MAX Holdings, Inc. (RMAX). Click either name above to swap in a different company.
Applied Digital Corp. is the larger business by last-quarter revenue ($126.6M vs $71.1M, roughly 1.8× RE/MAX Holdings, Inc.). RE/MAX Holdings, Inc. runs the higher net margin — 2.0% vs -11.4%, a 13.4% gap on every dollar of revenue. On growth, Applied Digital Corp. posted the faster year-over-year revenue change (98.2% vs -1.8%). RE/MAX Holdings, Inc. produced more free cash flow last quarter ($33.5M vs $-567.9M). Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs -4.7%).
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.
RE/MAX is an international real estate franchise operating in over 100 countries and territories that, in 2015, had over 100,000 agents in 6,800 offices.
APLD vs RMAX — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $71.1M |
| Net Profit | $-14.4M | $1.4M |
| Gross Margin | 20.6% | — |
| Operating Margin | -24.5% | 13.1% |
| Net Margin | -11.4% | 2.0% |
| Revenue YoY | 98.2% | -1.8% |
| Net Profit YoY | 89.6% | -75.2% |
| EPS (diluted) | $-0.07 | — |
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 | $71.1M | ||
| Q3 25 | $64.2M | $73.2M | ||
| Q2 25 | $-33.3M | $72.8M | ||
| Q1 25 | $52.9M | $74.5M | ||
| Q4 24 | $63.9M | $72.5M | ||
| Q3 24 | $60.7M | $78.5M | ||
| Q2 24 | $43.7M | $78.5M | ||
| Q1 24 | $43.3M | $78.3M |
| Q4 25 | $-14.4M | $1.4M | ||
| Q3 25 | $-16.9M | $4.0M | ||
| Q2 25 | $-52.5M | $4.7M | ||
| Q1 25 | $-35.6M | $-2.0M | ||
| Q4 24 | $-138.7M | $5.8M | ||
| Q3 24 | $-4.2M | $966.0K | ||
| Q2 24 | $-64.5M | $3.7M | ||
| Q1 24 | $-62.8M | $-3.4M |
| 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% | 13.1% | ||
| Q3 25 | -34.7% | 25.0% | ||
| Q2 25 | — | 19.3% | ||
| Q1 25 | -35.8% | 7.2% | ||
| Q4 24 | -29.1% | 5.9% | ||
| Q3 24 | 15.6% | 19.4% | ||
| Q2 24 | -68.4% | 20.6% | ||
| Q1 24 | -128.8% | 5.8% |
| Q4 25 | -11.4% | 2.0% | ||
| Q3 25 | -26.4% | 5.4% | ||
| Q2 25 | 157.8% | 6.4% | ||
| Q1 25 | -67.2% | -2.6% | ||
| Q4 24 | -217.2% | 8.0% | ||
| Q3 24 | -7.0% | 1.2% | ||
| Q2 24 | -147.5% | 4.7% | ||
| Q1 24 | -145.0% | -4.3% |
| Q4 25 | $-0.07 | — | ||
| Q3 25 | $-0.07 | — | ||
| Q2 25 | $-0.31 | — | ||
| Q1 25 | $-0.16 | — | ||
| Q4 24 | $-0.66 | — | ||
| Q3 24 | $-0.03 | — | ||
| Q2 24 | $-0.57 | — | ||
| Q1 24 | $-0.52 | — |
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 | $118.7M |
| Total DebtLower is stronger | — | $432.2M |
| Stockholders' EquityBook value | $1.4B | $452.4M |
| Total Assets | $5.2B | $582.5M |
| Debt / EquityLower = less leverage | — | 0.96× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $118.7M | ||
| Q3 25 | $73.9M | $107.5M | ||
| Q2 25 | $41.6M | $94.3M | ||
| Q1 25 | $68.7M | $89.1M | ||
| Q4 24 | $286.2M | $96.6M | ||
| Q3 24 | $58.2M | $83.8M | ||
| Q2 24 | $3.3M | $66.1M | ||
| Q1 24 | $4.4M | $82.1M |
| Q4 25 | — | $432.2M | ||
| Q3 25 | — | $433.3M | ||
| Q2 25 | — | $434.4M | ||
| Q1 25 | — | $435.3M | ||
| Q4 24 | — | $436.2M | ||
| Q3 24 | — | $437.2M | ||
| Q2 24 | — | $438.1M | ||
| Q1 24 | — | $439.0M |
| Q4 25 | $1.4B | $452.4M | ||
| Q3 25 | $1.0B | $448.1M | ||
| Q2 25 | $497.7M | $442.4M | ||
| Q1 25 | $454.6M | $433.5M | ||
| Q4 24 | $434.6M | $429.5M | ||
| Q3 24 | $241.8M | $423.1M | ||
| Q2 24 | $124.8M | $418.4M | ||
| Q1 24 | $118.5M | $412.0M |
| Q4 25 | $5.2B | $582.5M | ||
| Q3 25 | $2.4B | $582.2M | ||
| Q2 25 | $1.9B | $574.8M | ||
| Q1 25 | $1.7B | $571.4M | ||
| Q4 24 | $1.5B | $581.6M | ||
| Q3 24 | $937.7M | $578.6M | ||
| Q2 24 | $762.9M | $571.4M | ||
| Q1 24 | $643.2M | $566.7M |
| Q4 25 | — | 0.96× | ||
| Q3 25 | — | 0.97× | ||
| Q2 25 | — | 0.98× | ||
| Q1 25 | — | 1.00× | ||
| Q4 24 | — | 1.02× | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 1.05× | ||
| Q1 24 | — | 1.07× |
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 | $40.9M |
| Free Cash FlowOCF − Capex | $-567.9M | $33.5M |
| FCF MarginFCF / Revenue | -448.6% | 47.1% |
| Capex IntensityCapex / Revenue | 436.1% | 10.4% |
| Cash ConversionOCF / Net Profit | — | 28.39× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | $56.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.8M | $40.9M | ||
| Q3 25 | $-82.0M | $17.7M | ||
| Q2 25 | $6.9M | $4.6M | ||
| Q1 25 | $5.9M | $5.7M | ||
| Q4 24 | $-52.3M | $59.7M | ||
| Q3 24 | $-75.9M | $17.6M | ||
| Q2 24 | $-34.1M | $15.9M | ||
| Q1 24 | $38.8M | $9.4M |
| Q4 25 | $-567.9M | $33.5M | ||
| Q3 25 | $-331.4M | $16.4M | ||
| Q2 25 | $-191.4M | $2.9M | ||
| Q1 25 | $-251.6M | $4.0M | ||
| Q4 24 | $-223.3M | $53.0M | ||
| Q3 24 | $-130.7M | $16.3M | ||
| Q2 24 | $-88.9M | $14.0M | ||
| Q1 24 | $-2.3M | $6.8M |
| Q4 25 | -448.6% | 47.1% | ||
| Q3 25 | -516.1% | 22.4% | ||
| Q2 25 | 574.8% | 4.0% | ||
| Q1 25 | -475.4% | 5.3% | ||
| Q4 24 | -349.6% | 73.2% | ||
| Q3 24 | -215.3% | 20.8% | ||
| Q2 24 | -203.5% | 17.8% | ||
| Q1 24 | -5.4% | 8.6% |
| Q4 25 | 436.1% | 10.4% | ||
| Q3 25 | 388.4% | 1.8% | ||
| Q2 25 | -595.4% | 2.2% | ||
| Q1 25 | 486.6% | 2.3% | ||
| Q4 24 | 267.8% | 9.1% | ||
| Q3 24 | 90.3% | 1.7% | ||
| Q2 24 | 125.4% | 2.4% | ||
| Q1 24 | 95.0% | 3.3% |
| Q4 25 | — | 28.39× | ||
| Q3 25 | — | 4.45× | ||
| Q2 25 | — | 0.97× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 10.28× | ||
| Q3 24 | — | 18.22× | ||
| Q2 24 | — | 4.29× | ||
| Q1 24 | — | — |
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% |
RMAX
| Franchising Segment | $50.1M | 70% |
| Broker Fees | $13.9M | 20% |
| Annual Dues | $7.4M | 10% |
