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Side-by-side financial comparison of Applied Therapeutics, Inc. (APLT) and Innventure, Inc. (INV). Click either name above to swap in a different company.
Applied Therapeutics, Inc. is the larger business by last-quarter revenue ($1.0M vs $822.0K, roughly 1.2× Innventure, Inc.). Applied Therapeutics, Inc. runs the higher net margin — -1899.0% vs -4593.8%, a 2694.8% gap on every dollar of revenue.
Relief Therapeutics is a Swiss biopharmaceutical company based in Geneva. The company focuses on developing drugs for serious diseases with few or no existing treatment options. Its lead compound, RLF-100, is a synthetic form of a natural peptide that protects the lung. The company was incorporated as Relief Therapeutics Holdings AG (RFLB.S) and listed on the SIX Swiss Exchange in 2016.
Innventure, Inc. is a business development and commercialization firm that partners with large global corporations to turn their underutilized intellectual property and unused R&D innovations into scalable, high-growth independent businesses. It focuses on sectors including sustainability, advanced materials and life sciences, serving primarily North American and European markets.
APLT vs INV — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0M | $822.0K |
| Net Profit | $-19.0M | $-37.8M |
| Gross Margin | — | -1315.8% |
| Operating Margin | -1675.8% | -3859.1% |
| Net Margin | -1899.0% | -4593.8% |
| Revenue YoY | 719.7% | — |
| Net Profit YoY | 72.3% | — |
| EPS (diluted) | $-0.13 | $-0.18 |
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 | — | $822.0K | ||
| Q3 25 | $1.0M | $534.0K | ||
| Q2 25 | $0 | $476.0K | ||
| Q1 25 | $0 | $224.0K | ||
| Q4 24 | $-1.0K | — | ||
| Q3 24 | — | $317.0K | ||
| Q2 24 | $144.0K | — | ||
| Q1 24 | $190.0K | — |
| Q4 25 | — | $-37.8M | ||
| Q3 25 | $-19.0M | $-28.3M | ||
| Q2 25 | $-21.3M | $-84.2M | ||
| Q1 25 | $-21.8M | $-143.0M | ||
| Q4 24 | $44.0M | — | ||
| Q3 24 | — | $-2.2M | ||
| Q2 24 | $2.9M | — | ||
| Q1 24 | $-83.9M | — |
| Q4 25 | — | -1315.8% | ||
| Q3 25 | — | -676.6% | ||
| Q2 25 | — | -501.1% | ||
| Q1 25 | — | 17.9% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -145.1% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -3859.1% | ||
| Q3 25 | -1675.8% | -5469.1% | ||
| Q2 25 | — | -29952.5% | ||
| Q1 25 | — | -116606.3% | ||
| Q4 24 | 3302300.0% | — | ||
| Q3 24 | — | -4313.6% | ||
| Q2 24 | -14194.4% | — | ||
| Q1 24 | -11101.6% | — |
| Q4 25 | — | -4593.8% | ||
| Q3 25 | -1899.0% | -5305.6% | ||
| Q2 25 | — | -17694.7% | ||
| Q1 25 | — | -63837.9% | ||
| Q4 24 | -4400700.0% | — | ||
| Q3 24 | — | -697.5% | ||
| Q2 24 | 2012.5% | — | ||
| Q1 24 | -44177.9% | — |
| Q4 25 | — | $-0.18 | ||
| Q3 25 | $-0.13 | $-0.51 | ||
| Q2 25 | $-0.15 | $-1.60 | ||
| Q1 25 | $-0.15 | $-3.10 | ||
| Q4 24 | $0.52 | — | ||
| Q3 24 | — | $-0.94 | ||
| Q2 24 | $-0.13 | — | ||
| Q1 24 | $-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 | $11.9M | $60.4M |
| Total DebtLower is stronger | — | $8.3M |
| Stockholders' EquityBook value | $-561.0K | $204.2M |
| Total Assets | $34.4M | $599.2M |
| Debt / EquityLower = less leverage | — | 0.04× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $60.4M | ||
| Q3 25 | $11.9M | $9.1M | ||
| Q2 25 | $30.4M | $7.0M | ||
| Q1 25 | $50.8M | — | ||
| Q4 24 | $79.4M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $122.2M | — | ||
| Q1 24 | $146.5M | — |
| Q4 25 | — | $8.3M | ||
| Q3 25 | — | $29.5M | ||
| Q2 25 | — | $16.8M | ||
| Q1 25 | — | $12.3M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $14.9M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | $204.2M | ||
| Q3 25 | $-561.0K | $190.8M | ||
| Q2 25 | $17.4M | $218.6M | ||
| Q1 25 | $36.7M | $261.5M | ||
| Q4 24 | $57.0M | — | ||
| Q3 24 | — | $-22.3M | ||
| Q2 24 | $72.4M | — | ||
| Q1 24 | $67.3M | — |
| Q4 25 | — | $599.2M | ||
| Q3 25 | $34.4M | $556.5M | ||
| Q2 25 | $37.3M | $556.0M | ||
| Q1 25 | $56.9M | $660.4M | ||
| Q4 24 | $86.7M | — | ||
| Q3 24 | — | $55.7M | ||
| Q2 24 | $127.8M | — | ||
| Q1 24 | $151.2M | — |
| Q4 25 | — | 0.04× | ||
| Q3 25 | — | 0.15× | ||
| Q2 25 | — | 0.08× | ||
| Q1 25 | — | 0.05× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
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 | $-18.4M | $-80.7M |
| Free Cash FlowOCF − Capex | — | $-82.1M |
| FCF MarginFCF / Revenue | — | -9987.8% |
| Capex IntensityCapex / Revenue | — | 172.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-139.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-80.7M | ||
| Q3 25 | $-18.4M | $-19.6M | ||
| Q2 25 | $-20.3M | $-22.1M | ||
| Q1 25 | $-28.6M | $-14.7M | ||
| Q4 24 | $-19.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | $-22.6M | — | ||
| Q1 24 | $-18.9M | — |
| Q4 25 | — | $-82.1M | ||
| Q3 25 | — | $-20.0M | ||
| Q2 25 | — | $-22.1M | ||
| Q1 25 | — | $-15.6M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -9987.8% | ||
| Q3 25 | — | -3747.8% | ||
| Q2 25 | — | -4637.2% | ||
| Q1 25 | — | -6970.1% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 172.4% | ||
| Q3 25 | — | 82.2% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | — | 409.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -0.44× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -7.80× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
