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Side-by-side financial comparison of Applied Digital Corp. (APLD) and VINCE HOLDING CORP. (VNCE). Click either name above to swap in a different company.
Applied Digital Corp. is the larger business by last-quarter revenue ($126.6M vs $85.1M, roughly 1.5× VINCE HOLDING CORP.). VINCE HOLDING CORP. runs the higher net margin — 3.2% vs -11.4%, a 14.6% gap on every dollar of revenue. On growth, Applied Digital Corp. posted the faster year-over-year revenue change (98.2% vs 6.2%). VINCE HOLDING CORP. produced more free cash flow last quarter ($-5.7M vs $-567.9M). Over the past eight quarters, Applied Digital Corp.'s revenue compounded faster (70.9% CAGR vs 6.3%).
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.
VINCE. is a contemporary clothing fashion brand founded in 2002. In 2023 Authentic Brands Group purchased its intellectual property in a $76.5 million deal.
APLD vs VNCE — Head-to-Head
Income Statement — Q2 FY2026 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $126.6M | $85.1M |
| Net Profit | $-14.4M | $2.7M |
| Gross Margin | 20.6% | 49.2% |
| Operating Margin | -24.5% | 6.4% |
| Net Margin | -11.4% | 3.2% |
| Revenue YoY | 98.2% | 6.2% |
| Net Profit YoY | 89.6% | -37.3% |
| EPS (diluted) | $-0.07 | $0.21 |
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 | $85.1M | ||
| Q3 25 | $64.2M | $73.2M | ||
| Q2 25 | $-33.3M | $57.9M | ||
| Q1 25 | $52.9M | $80.0M | ||
| Q4 24 | $63.9M | $80.2M | ||
| Q3 24 | $60.7M | $74.2M | ||
| Q2 24 | $43.7M | $59.2M | ||
| Q1 24 | $43.3M | $75.3M |
| Q4 25 | $-14.4M | $2.7M | ||
| Q3 25 | $-16.9M | $12.1M | ||
| Q2 25 | $-52.5M | $-4.8M | ||
| Q1 25 | $-35.6M | $-28.3M | ||
| Q4 24 | $-138.7M | $4.3M | ||
| Q3 24 | $-4.2M | $569.0K | ||
| Q2 24 | $-64.5M | $4.4M | ||
| Q1 24 | $-62.8M | $-4.7M |
| Q4 25 | 20.6% | 49.2% | ||
| Q3 25 | 13.4% | 50.4% | ||
| Q2 25 | — | 50.3% | ||
| Q1 25 | 7.1% | 50.1% | ||
| Q4 24 | 18.0% | 50.0% | ||
| Q3 24 | -0.6% | 47.4% | ||
| Q2 24 | -9.1% | 50.6% | ||
| Q1 24 | -8.6% | 45.4% |
| Q4 25 | -24.5% | 6.4% | ||
| Q3 25 | -34.7% | 15.2% | ||
| Q2 25 | — | -7.7% | ||
| Q1 25 | -35.8% | -37.1% | ||
| Q4 24 | -29.1% | 7.2% | ||
| Q3 24 | 15.6% | 1.5% | ||
| Q2 24 | -68.4% | 9.5% | ||
| Q1 24 | -128.8% | -2.2% |
| Q4 25 | -11.4% | 3.2% | ||
| Q3 25 | -26.4% | 16.5% | ||
| Q2 25 | 157.8% | -8.3% | ||
| Q1 25 | -67.2% | -35.5% | ||
| Q4 24 | -217.2% | 5.4% | ||
| Q3 24 | -7.0% | 0.8% | ||
| Q2 24 | -147.5% | 7.4% | ||
| Q1 24 | -145.0% | -6.2% |
| Q4 25 | $-0.07 | $0.21 | ||
| Q3 25 | $-0.07 | $0.93 | ||
| Q2 25 | $-0.31 | $-0.37 | ||
| Q1 25 | $-0.16 | $-2.25 | ||
| Q4 24 | $-0.66 | $0.34 | ||
| Q3 24 | $-0.03 | $0.05 | ||
| Q2 24 | $-0.57 | $0.35 | ||
| Q1 24 | $-0.52 | $-0.37 |
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 | $1.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.4B | $53.4M |
| Total Assets | $5.2B | $246.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.9B | $1.1M | ||
| Q3 25 | $73.9M | $777.0K | ||
| Q2 25 | $41.6M | $2.6M | ||
| Q1 25 | $68.7M | $607.0K | ||
| Q4 24 | $286.2M | $892.0K | ||
| Q3 24 | $58.2M | $711.0K | ||
| Q2 24 | $3.3M | $739.0K | ||
| Q1 24 | $4.4M | $357.0K |
| Q4 25 | $1.4B | $53.4M | ||
| Q3 25 | $1.0B | $49.3M | ||
| Q2 25 | $497.7M | $37.2M | ||
| Q1 25 | $454.6M | $41.8M | ||
| Q4 24 | $434.6M | $57.1M | ||
| Q3 24 | $241.8M | $52.4M | ||
| Q2 24 | $124.8M | $51.7M | ||
| Q1 24 | $118.5M | $47.2M |
| Q4 25 | $5.2B | $246.0M | ||
| Q3 25 | $2.4B | $239.0M | ||
| Q2 25 | $1.9B | $218.0M | ||
| Q1 25 | $1.7B | $222.7M | ||
| Q4 24 | $1.5B | $254.7M | ||
| Q3 24 | $937.7M | $253.6M | ||
| Q2 24 | $762.9M | $223.1M | ||
| Q1 24 | $643.2M | $225.1M |
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 | $-5.1M |
| Free Cash FlowOCF − Capex | $-567.9M | $-5.7M |
| FCF MarginFCF / Revenue | -448.6% | -6.7% |
| Capex IntensityCapex / Revenue | 436.1% | 0.7% |
| Cash ConversionOCF / Net Profit | — | -1.86× |
| TTM Free Cash FlowTrailing 4 quarters | $-1.3B | $4.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-15.8M | $-5.1M | ||
| Q3 25 | $-82.0M | $4.2M | ||
| Q2 25 | $6.9M | $-11.8M | ||
| Q1 25 | $5.9M | $22.7M | ||
| Q4 24 | $-52.3M | $6.4M | ||
| Q3 24 | $-75.9M | $-3.2M | ||
| Q2 24 | $-34.1M | $-3.9M | ||
| Q1 24 | $38.8M | $14.8M |
| Q4 25 | $-567.9M | $-5.7M | ||
| Q3 25 | $-331.4M | $2.1M | ||
| Q2 25 | $-191.4M | $-13.2M | ||
| Q1 25 | $-251.6M | $21.2M | ||
| Q4 24 | $-223.3M | $5.1M | ||
| Q3 24 | $-130.7M | $-3.9M | ||
| Q2 24 | $-88.9M | $-4.6M | ||
| Q1 24 | $-2.3M | $14.2M |
| Q4 25 | -448.6% | -6.7% | ||
| Q3 25 | -516.1% | 2.9% | ||
| Q2 25 | 574.8% | -22.9% | ||
| Q1 25 | -475.4% | 26.5% | ||
| Q4 24 | -349.6% | 6.4% | ||
| Q3 24 | -215.3% | -5.2% | ||
| Q2 24 | -203.5% | -7.8% | ||
| Q1 24 | -5.4% | 18.9% |
| Q4 25 | 436.1% | 0.7% | ||
| Q3 25 | 388.4% | 2.9% | ||
| Q2 25 | -595.4% | 2.5% | ||
| Q1 25 | 486.6% | 1.9% | ||
| Q4 24 | 267.8% | 1.6% | ||
| Q3 24 | 90.3% | 0.9% | ||
| Q2 24 | 125.4% | 1.3% | ||
| Q1 24 | 95.0% | 0.7% |
| Q4 25 | — | -1.86× | ||
| Q3 25 | — | 0.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.48× | ||
| Q3 24 | — | -5.61× | ||
| Q2 24 | — | -0.89× | ||
| 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% |
VNCE
| Vince Wholesale | $52.0M | 61% |
| Vince Direct To Consumer | $33.1M | 39% |
