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Side-by-side financial comparison of Apollo Commercial Real Estate Finance, Inc. (ARI) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
Purple Innovation, Inc. is the larger business by last-quarter revenue ($140.7M vs $73.3M, roughly 1.9× Apollo Commercial Real Estate Finance, Inc.). Apollo Commercial Real Estate Finance, Inc. runs the higher net margin — 39.9% vs -2.3%, a 42.1% gap on every dollar of revenue. On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs 4.0%). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% CAGR vs -4.6%).
Apollo Commercial Real Estate Finance, Inc. is a real estate investment trust that originates, acquires and manages commercial real estate debt assets including mortgages, mezzanine loans and mortgage-backed securities, primarily operating in the U.S. market to deliver consistent risk-adjusted returns.
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
ARI vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $73.3M | $140.7M |
| Net Profit | $29.2M | $-3.2M |
| Gross Margin | — | 41.9% |
| Operating Margin | 39.7% | -1.6% |
| Net Margin | 39.9% | -2.3% |
| Revenue YoY | 4.0% | 9.1% |
| Net Profit YoY | -28.2% | 62.1% |
| EPS (diluted) | $0.19 | $0.03 |
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 | $73.3M | $140.7M | ||
| Q3 25 | $61.6M | $118.8M | ||
| Q2 25 | $70.9M | $105.1M | ||
| Q1 25 | $65.8M | $104.2M | ||
| Q4 24 | $70.5M | $129.0M | ||
| Q3 24 | $71.6M | $118.6M | ||
| Q2 24 | $81.1M | $120.3M | ||
| Q1 24 | $80.5M | $120.0M |
| Q4 25 | $29.2M | $-3.2M | ||
| Q3 25 | $50.8M | $-11.7M | ||
| Q2 25 | $20.7M | $-17.3M | ||
| Q1 25 | $26.0M | $-19.1M | ||
| Q4 24 | $40.7M | $-8.5M | ||
| Q3 24 | $-91.5M | $-39.2M | ||
| Q2 24 | $35.8M | $27.0K | ||
| Q1 24 | $-104.5M | $-50.2M |
| Q4 25 | — | 41.9% | ||
| Q3 25 | — | 42.8% | ||
| Q2 25 | — | 35.9% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 42.9% | ||
| Q3 24 | — | 29.7% | ||
| Q2 24 | — | 40.7% | ||
| Q1 24 | — | 34.8% |
| Q4 25 | 39.7% | -1.6% | ||
| Q3 25 | 82.8% | -10.2% | ||
| Q2 25 | 29.4% | -13.5% | ||
| Q1 25 | 39.7% | -13.9% | ||
| Q4 24 | 57.9% | -6.0% | ||
| Q3 24 | -127.8% | -39.5% | ||
| Q2 24 | 44.2% | -12.1% | ||
| Q1 24 | -129.6% | -19.3% |
| Q4 25 | 39.9% | -2.3% | ||
| Q3 25 | 82.4% | -9.9% | ||
| Q2 25 | 29.3% | -16.5% | ||
| Q1 25 | 39.5% | -18.4% | ||
| Q4 24 | 57.7% | -6.6% | ||
| Q3 24 | -127.9% | -33.1% | ||
| Q2 24 | 44.1% | 0.0% | ||
| Q1 24 | -129.8% | -41.8% |
| Q4 25 | $0.19 | $0.03 | ||
| Q3 25 | $0.34 | $0.11 | ||
| Q2 25 | $0.12 | $0.16 | ||
| Q1 25 | $0.16 | $0.18 | ||
| Q4 24 | $0.25 | $0.08 | ||
| Q3 24 | $-0.69 | $0.36 | ||
| Q2 24 | $0.23 | $0.00 | ||
| Q1 24 | $-0.76 | $0.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $139.8M | $24.3M |
| Total DebtLower is stronger | — | $126.7M |
| Stockholders' EquityBook value | $1.9B | $-29.7M |
| Total Assets | $9.9B | $296.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $139.8M | $24.3M | ||
| Q3 25 | $245.9M | $32.4M | ||
| Q2 25 | $177.6M | $34.2M | ||
| Q1 25 | $166.4M | $21.6M | ||
| Q4 24 | $317.4M | $29.0M | ||
| Q3 24 | $194.3M | $23.4M | ||
| Q2 24 | $174.7M | $23.4M | ||
| Q1 24 | $161.2M | $34.5M |
| Q4 25 | — | $126.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $70.7M | ||
| Q3 24 | — | $50.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.9B | $-29.7M | ||
| Q3 25 | $1.9B | $-26.9M | ||
| Q2 25 | $1.8B | $-15.6M | ||
| Q1 25 | $1.9B | $1.3M | ||
| Q4 24 | $1.9B | $20.2M | ||
| Q3 24 | $1.9B | $28.0M | ||
| Q2 24 | $2.0B | $66.4M | ||
| Q1 24 | $2.0B | $65.5M |
| Q4 25 | $9.9B | $296.3M | ||
| Q3 25 | $9.5B | $302.1M | ||
| Q2 25 | $9.8B | $303.8M | ||
| Q1 25 | $8.8B | $293.8M | ||
| Q4 24 | $8.4B | $307.8M | ||
| Q3 24 | $9.1B | $309.3M | ||
| Q2 24 | $9.3B | $362.1M | ||
| Q1 24 | $9.2B | $382.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.50× | ||
| Q3 24 | — | 1.82× | ||
| 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 | $142.5M | $-5.8M |
| Free Cash FlowOCF − Capex | — | $-7.8M |
| FCF MarginFCF / Revenue | — | -5.5% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | 4.88× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $142.5M | $-5.8M | ||
| Q3 25 | $31.7M | $-968.0K | ||
| Q2 25 | $63.2M | $-4.0M | ||
| Q1 25 | $39.3M | $-23.1M | ||
| Q4 24 | $200.3M | $6.8M | ||
| Q3 24 | $47.2M | $1.1M | ||
| Q2 24 | $50.2M | $-8.9M | ||
| Q1 24 | $52.8M | $-16.8M |
| Q4 25 | — | $-7.8M | ||
| Q3 25 | — | $-1.8M | ||
| Q2 25 | — | $-7.0M | ||
| Q1 25 | — | $-25.3M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $101.0K | ||
| Q2 24 | — | $-11.0M | ||
| Q1 24 | — | $-19.9M |
| Q4 25 | — | -5.5% | ||
| Q3 25 | — | -1.5% | ||
| Q2 25 | — | -6.6% | ||
| Q1 25 | — | -24.3% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | -9.2% | ||
| Q1 24 | — | -16.5% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | 4.88× | — | ||
| Q3 25 | 0.62× | — | ||
| Q2 25 | 3.05× | — | ||
| Q1 25 | 1.51× | — | ||
| Q4 24 | 4.93× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.40× | -330.22× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ARI
Segment breakdown not available.
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
