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Side-by-side financial comparison of Applied Therapeutics, Inc. (APLT) and XMax Inc. (XWIN). Click either name above to swap in a different company.
XMax Inc. is the larger business by last-quarter revenue ($1.8M vs $1.0M, roughly 1.8× Applied Therapeutics, Inc.). On growth, Applied Therapeutics, Inc. posted the faster year-over-year revenue change (719.7% vs -11.8%).
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.
XMax Inc. is a global tech firm focused on Web3 gaming infrastructure and interactive entertainment solutions. It builds custom game development toolkits, decentralized asset systems and cross-platform gaming products for developers and consumers in North America, APAC and Europe.
APLT vs XWIN — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.0M | $1.8M |
| Net Profit | $-19.0M | — |
| Gross Margin | — | 40.3% |
| Operating Margin | -1675.8% | -59.3% |
| Net Margin | -1899.0% | — |
| Revenue YoY | 719.7% | -11.8% |
| Net Profit YoY | 72.3% | — |
| EPS (diluted) | $-0.13 | $-0.06 |
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 | — | $1.8M | ||
| Q3 25 | $1.0M | $9.8M | ||
| Q2 25 | $0 | $2.6M | ||
| Q1 25 | $0 | $2.6M | ||
| Q4 24 | $-1.0K | $2.0M | ||
| Q3 24 | — | $2.6M | ||
| Q2 24 | $144.0K | $2.7M | ||
| Q1 24 | $190.0K | $2.4M |
| Q4 25 | — | — | ||
| Q3 25 | $-19.0M | $-1.1M | ||
| Q2 25 | $-21.3M | $-289.9K | ||
| Q1 25 | $-21.8M | $-338.9K | ||
| Q4 24 | $44.0M | — | ||
| Q3 24 | — | $-2.5M | ||
| Q2 24 | $2.9M | $-563.5K | ||
| Q1 24 | $-83.9M | $-1.5M |
| Q4 25 | — | 40.3% | ||
| Q3 25 | — | 10.1% | ||
| Q2 25 | — | 50.2% | ||
| Q1 25 | — | 45.7% | ||
| Q4 24 | — | 42.8% | ||
| Q3 24 | — | 45.1% | ||
| Q2 24 | — | 44.4% | ||
| Q1 24 | — | 42.8% |
| Q4 25 | — | -59.3% | ||
| Q3 25 | -1675.8% | -5.0% | ||
| Q2 25 | — | -7.7% | ||
| Q1 25 | — | -7.3% | ||
| Q4 24 | 3302300.0% | -48.4% | ||
| Q3 24 | — | -92.0% | ||
| Q2 24 | -14194.4% | -18.5% | ||
| Q1 24 | -11101.6% | -62.6% |
| Q4 25 | — | — | ||
| Q3 25 | -1899.0% | -11.5% | ||
| Q2 25 | — | -11.3% | ||
| Q1 25 | — | -12.9% | ||
| Q4 24 | -4400700.0% | — | ||
| Q3 24 | — | -94.3% | ||
| Q2 24 | 2012.5% | -21.0% | ||
| Q1 24 | -44177.9% | -61.6% |
| Q4 25 | — | $-0.06 | ||
| Q3 25 | $-0.13 | $-0.06 | ||
| Q2 25 | $-0.15 | $-0.02 | ||
| Q1 25 | $-0.15 | $-0.03 | ||
| Q4 24 | $0.52 | $0.11 | ||
| Q3 24 | — | $-0.72 | ||
| Q2 24 | $-0.13 | $-0.22 | ||
| Q1 24 | $-0.67 | $-0.65 |
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 | $6.7M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-561.0K | $28.0M |
| Total Assets | $34.4M | $35.5M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $6.7M | ||
| Q3 25 | $11.9M | $1.7M | ||
| Q2 25 | $30.4M | $468.8K | ||
| Q1 25 | $50.8M | $147.3K | ||
| Q4 24 | $79.4M | $161.9K | ||
| Q3 24 | — | $162.3K | ||
| Q2 24 | $122.2M | $363.4K | ||
| Q1 24 | $146.5M | $273.1K |
| Q4 25 | — | $28.0M | ||
| Q3 25 | $-561.0K | $13.6M | ||
| Q2 25 | $17.4M | $6.5M | ||
| Q1 25 | $36.7M | $6.8M | ||
| Q4 24 | $57.0M | $3.1M | ||
| Q3 24 | — | $-895.9K | ||
| Q2 24 | $72.4M | $48.2K | ||
| Q1 24 | $67.3M | $-42.7K |
| Q4 25 | — | $35.5M | ||
| Q3 25 | $34.4M | $18.3M | ||
| Q2 25 | $37.3M | $11.6M | ||
| Q1 25 | $56.9M | $11.9M | ||
| Q4 24 | $86.7M | $9.9M | ||
| Q3 24 | — | $5.1M | ||
| Q2 24 | $127.8M | $5.8M | ||
| Q1 24 | $151.2M | $6.2M |
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 | $1.7M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $1.7M | ||
| Q3 25 | $-18.4M | $-1.9M | ||
| Q2 25 | $-20.3M | $92.5K | ||
| Q1 25 | $-28.6M | $-322.6K | ||
| Q4 24 | $-19.5M | $-263.4K | ||
| Q3 24 | — | $-437.9K | ||
| Q2 24 | $-22.6M | $-468.7K | ||
| Q1 24 | $-18.9M | $-221.7K |
| 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.
Revenue Breakdown by Segment
APLT
Segment breakdown not available.
XWIN
| North America | $1.7M | 97% |
| Other | $50.4K | 3% |
