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Side-by-side financial comparison of Arhaus, Inc. (ARHS) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $364.8M, roughly 1.0× Arhaus, Inc.). Arhaus, Inc. runs the higher net margin — 4.1% vs -1.9%, a 6.1% gap on every dollar of revenue. On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs 5.1%). Over the past eight quarters, Arhaus, Inc.'s revenue compounded faster (11.2% CAGR vs 10.2%).
Arhaus, Inc.ARHSEarnings & Financial Report
Arhaus, Inc. is an upscale American home furnishings company headquartered in Boston Heights, Ohio. Founded in 1986 with a focus on sustainability and artisanship in product quality, Arhaus provides a diversified assortment of specialty goods and services addressing omnichannel direct-to-consumer and business-to-business residential and commercial operations.
Innovate Corp. is an American public financial services company founded in 1994.
ARHS vs VATE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $364.8M | $382.7M |
| Net Profit | $15.1M | $-7.4M |
| Gross Margin | 38.1% | 15.4% |
| Operating Margin | 5.6% | 3.7% |
| Net Margin | 4.1% | -1.9% |
| Revenue YoY | 5.1% | 61.7% |
| Net Profit YoY | -29.1% | 55.4% |
| EPS (diluted) | $0.11 | $-0.57 |
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 | $364.8M | $382.7M | ||
| Q3 25 | $344.6M | $347.1M | ||
| Q2 25 | $358.4M | $242.0M | ||
| Q1 25 | $311.4M | $274.2M | ||
| Q4 24 | $347.0M | $236.6M | ||
| Q3 24 | $319.1M | $242.2M | ||
| Q2 24 | $309.8M | $313.1M | ||
| Q1 24 | $295.2M | $315.2M |
| Q4 25 | $15.1M | $-7.4M | ||
| Q3 25 | $12.2M | $-8.9M | ||
| Q2 25 | $35.1M | $-19.8M | ||
| Q1 25 | $4.9M | $-24.5M | ||
| Q4 24 | $21.3M | $-16.6M | ||
| Q3 24 | $9.9M | $-15.0M | ||
| Q2 24 | $22.2M | $14.4M | ||
| Q1 24 | $15.1M | $-17.4M |
| Q4 25 | 38.1% | 15.4% | ||
| Q3 25 | 38.7% | 14.3% | ||
| Q2 25 | 41.4% | 18.8% | ||
| Q1 25 | 37.1% | 16.6% | ||
| Q4 24 | 40.0% | 19.6% | ||
| Q3 24 | 38.6% | 19.9% | ||
| Q2 24 | 40.1% | 21.0% | ||
| Q1 24 | 39.0% | 15.4% |
| Q4 25 | 5.6% | 3.7% | ||
| Q3 25 | 4.8% | 1.8% | ||
| Q2 25 | 13.0% | 2.0% | ||
| Q1 25 | 1.7% | 1.2% | ||
| Q4 24 | 8.2% | 1.1% | ||
| Q3 24 | 3.3% | 2.4% | ||
| Q2 24 | 9.5% | 9.2% | ||
| Q1 24 | 6.2% | 0.9% |
| Q4 25 | 4.1% | -1.9% | ||
| Q3 25 | 3.5% | -2.6% | ||
| Q2 25 | 9.8% | -8.2% | ||
| Q1 25 | 1.6% | -8.9% | ||
| Q4 24 | 6.1% | -7.0% | ||
| Q3 24 | 3.1% | -6.2% | ||
| Q2 24 | 7.2% | 4.6% | ||
| Q1 24 | 5.1% | -5.5% |
| Q4 25 | $0.11 | $-0.57 | ||
| Q3 25 | $0.09 | $-0.71 | ||
| Q2 25 | $0.25 | $-1.67 | ||
| Q1 25 | $0.03 | $-1.89 | ||
| Q4 24 | $0.15 | $-0.72 | ||
| Q3 24 | $0.07 | $-1.18 | ||
| Q2 24 | $0.16 | $1.03 | ||
| Q1 24 | $0.11 | $-2.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $253.4M | $112.1M |
| Total DebtLower is stronger | — | $80.3M |
| Stockholders' EquityBook value | $418.2M | $-240.1M |
| Total Assets | $1.4B | $950.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $253.4M | $112.1M | ||
| Q3 25 | $262.2M | $35.5M | ||
| Q2 25 | $234.8M | $33.4M | ||
| Q1 25 | $214.4M | $33.3M | ||
| Q4 24 | $197.5M | $48.8M | ||
| Q3 24 | $177.7M | $51.0M | ||
| Q2 24 | $174.2M | $80.2M | ||
| Q1 24 | $233.2M | $38.4M |
| Q4 25 | — | $80.3M | ||
| Q3 25 | — | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | — | $500.6M | ||
| Q3 24 | — | $502.4M | ||
| Q2 24 | — | $638.3M | ||
| Q1 24 | — | $641.5M |
| Q4 25 | $418.2M | $-240.1M | ||
| Q3 25 | $400.4M | $-233.3M | ||
| Q2 25 | $385.6M | $-224.8M | ||
| Q1 25 | $348.8M | $-204.2M | ||
| Q4 24 | $343.7M | $-180.4M | ||
| Q3 24 | $320.6M | $-163.1M | ||
| Q2 24 | $309.3M | $-149.0M | ||
| Q1 24 | $285.6M | $-184.4M |
| Q4 25 | $1.4B | $950.1M | ||
| Q3 25 | $1.4B | $913.2M | ||
| Q2 25 | $1.3B | $890.9M | ||
| Q1 25 | $1.3B | $868.0M | ||
| Q4 24 | $1.2B | $891.1M | ||
| Q3 24 | $1.2B | $897.2M | ||
| Q2 24 | $1.2B | $898.9M | ||
| Q1 24 | $1.2B | $943.5M |
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 | $9.3M | $101.1M |
| Free Cash FlowOCF − Capex | $-8.8M | — |
| FCF MarginFCF / Revenue | -2.4% | — |
| Capex IntensityCapex / Revenue | 5.0% | — |
| Cash ConversionOCF / Net Profit | 0.62× | — |
| TTM Free Cash FlowTrailing 4 quarters | $59.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $9.3M | $101.1M | ||
| Q3 25 | $46.1M | $19.2M | ||
| Q2 25 | $34.9M | $40.4M | ||
| Q1 25 | $46.5M | $-14.1M | ||
| Q4 24 | $31.7M | $41.4M | ||
| Q3 24 | $31.1M | $-28.4M | ||
| Q2 24 | $47.5M | $21.5M | ||
| Q1 24 | $36.8M | $-25.4M |
| Q4 25 | $-8.8M | — | ||
| Q3 25 | $28.0M | $19.0M | ||
| Q2 25 | $20.9M | — | ||
| Q1 25 | $18.9M | $-18.8M | ||
| Q4 24 | $13.0M | $34.2M | ||
| Q3 24 | $4.6M | $-31.5M | ||
| Q2 24 | $11.3M | $18.4M | ||
| Q1 24 | $10.9M | $-31.0M |
| Q4 25 | -2.4% | — | ||
| Q3 25 | 8.1% | 5.5% | ||
| Q2 25 | 5.8% | — | ||
| Q1 25 | 6.1% | -6.9% | ||
| Q4 24 | 3.7% | 14.5% | ||
| Q3 24 | 1.4% | -13.0% | ||
| Q2 24 | 3.6% | 5.9% | ||
| Q1 24 | 3.7% | -9.8% |
| Q4 25 | 5.0% | — | ||
| Q3 25 | 5.3% | 0.1% | ||
| Q2 25 | 3.9% | — | ||
| Q1 25 | 8.9% | 1.7% | ||
| Q4 24 | 5.4% | 3.0% | ||
| Q3 24 | 8.3% | 1.3% | ||
| Q2 24 | 11.7% | 1.0% | ||
| Q1 24 | 8.8% | 1.8% |
| Q4 25 | 0.62× | — | ||
| Q3 25 | 3.77× | — | ||
| Q2 25 | 1.00× | — | ||
| Q1 25 | 9.53× | — | ||
| Q4 24 | 1.49× | — | ||
| Q3 24 | 3.14× | — | ||
| Q2 24 | 2.14× | 1.49× | ||
| Q1 24 | 2.44× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARHS
| Sales Channel Retail | $305.7M | 84% |
| Sales Channel E Commerce | $59.2M | 16% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
