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Side-by-side financial comparison of BayFirst Financial Corp. (BAFN) and Direct Digital Holdings, Inc. (DRCT). Click either name above to swap in a different company.
BayFirst Financial Corp. is the larger business by last-quarter revenue ($10.3M vs $8.4M, roughly 1.2× Direct Digital Holdings, Inc.). BayFirst Financial Corp. runs the higher net margin — -55.0% vs -138.7%, a 83.7% gap on every dollar of revenue. Over the past eight quarters, BayFirst Financial Corp.'s revenue compounded faster (-29.6% CAGR vs -38.6%).
The PNC Financial Services Group, Inc. is an American bank holding company and financial services corporation based in Pittsburgh, Pennsylvania. Its banking subsidiary, PNC Bank, operates in 27 states and the District of Columbia, with 2,629 branches and 9,523 ATMs. PNC Bank is one of the largest banks in the US by assets and by number of branches, deposits, and ATMs.
Devolver Digital, Inc. is an American video game publisher based in Austin, Texas, specializing in the publishing of indie games. The company was founded in June 2009 by Nigel Lowrie, Harry Miller, Graeme Struthers, Rick Stults, and Mike Wilson, five executives who had been involved with Gathering of Developers and Gamecock Media Group, which published games on developer-friendly terms, but due to the high cost associated with releasing retail games saw themselves acquired and dissolved by la...
BAFN vs DRCT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $10.3M | $8.4M |
| Net Profit | $-5.7M | $-11.7M |
| Gross Margin | — | 26.8% |
| Operating Margin | — | -53.4% |
| Net Margin | -55.0% | -138.7% |
| Revenue YoY | — | -7.4% |
| Net Profit YoY | -130.6% | -434.7% |
| EPS (diluted) | $-1.48 | $-74.97 |
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.
| Q1 26 | $10.3M | — | ||
| Q4 25 | $11.2M | $8.4M | ||
| Q3 25 | $10.2M | $8.0M | ||
| Q2 25 | $23.1M | $10.1M | ||
| Q1 25 | $19.8M | $8.2M | ||
| Q4 24 | $32.9M | $9.1M | ||
| Q3 24 | $21.7M | $9.1M | ||
| Q2 24 | $20.8M | $21.9M |
| Q1 26 | $-5.7M | — | ||
| Q4 25 | $-2.5M | $-11.7M | ||
| Q3 25 | $-18.9M | $-2.7M | ||
| Q2 25 | $-1.2M | $-2.2M | ||
| Q1 25 | $-335.0K | $-2.4M | ||
| Q4 24 | $9.8M | $-2.2M | ||
| Q3 24 | $1.1M | $-2.7M | ||
| Q2 24 | $866.0K | $-590.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | 26.8% | ||
| Q3 25 | — | 27.7% | ||
| Q2 25 | — | 35.1% | ||
| Q1 25 | — | 29.3% | ||
| Q4 24 | — | 32.5% | ||
| Q3 24 | — | 38.7% | ||
| Q2 24 | — | 27.1% |
| Q1 26 | — | — | ||
| Q4 25 | -25.3% | -53.4% | ||
| Q3 25 | -253.0% | -49.0% | ||
| Q2 25 | -7.1% | -23.9% | ||
| Q1 25 | -2.3% | -48.1% | ||
| Q4 24 | — | -51.8% | ||
| Q3 24 | 7.1% | -40.3% | ||
| Q2 24 | 5.9% | -9.4% |
| Q1 26 | -55.0% | — | ||
| Q4 25 | -22.1% | -138.7% | ||
| Q3 25 | -184.7% | -33.6% | ||
| Q2 25 | -5.3% | -22.2% | ||
| Q1 25 | -1.7% | -28.9% | ||
| Q4 24 | 91.8% | -24.0% | ||
| Q3 24 | 5.2% | -29.6% | ||
| Q2 24 | 4.2% | -2.7% |
| Q1 26 | $-1.48 | — | ||
| Q4 25 | $-0.71 | $-74.97 | ||
| Q3 25 | $-4.66 | $-0.24 | ||
| Q2 25 | $-0.39 | $-0.23 | ||
| Q1 25 | $-0.17 | $-0.35 | ||
| Q4 24 | $2.21 | $-90.17 | ||
| Q3 24 | $0.18 | $-0.71 | ||
| Q2 24 | $0.12 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $134.5M | $728.0K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $81.9M | $-7.0M |
| Total Assets | $1.2B | $20.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $134.5M | — | ||
| Q4 25 | $207.0M | $728.0K | ||
| Q3 25 | $118.5M | $871.0K | ||
| Q2 25 | $77.3M | $1.6M | ||
| Q1 25 | $63.2M | $1.8M | ||
| Q4 24 | $77.8M | $1.4M | ||
| Q3 24 | $64.4M | $4.1M | ||
| Q2 24 | $60.8M | $1.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | $10.8M | ||
| Q2 25 | — | $33.5M | ||
| Q1 25 | — | $32.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $150.0K | ||
| Q2 24 | — | $34.8M |
| Q1 26 | $81.9M | — | ||
| Q4 25 | $87.6M | $-7.0M | ||
| Q3 25 | $89.7M | $-6.7M | ||
| Q2 25 | $108.2M | $-24.6M | ||
| Q1 25 | $110.1M | $-23.3M | ||
| Q4 24 | $110.9M | $-19.7M | ||
| Q3 24 | $102.3M | $-16.7M | ||
| Q2 24 | $101.0M | $-10.5M |
| Q1 26 | $1.2B | — | ||
| Q4 25 | $1.3B | $20.2M | ||
| Q3 25 | $1.3B | $22.5M | ||
| Q2 25 | $1.3B | $23.3M | ||
| Q1 25 | $1.3B | $23.8M | ||
| Q4 24 | $1.3B | $26.0M | ||
| Q3 24 | $1.2B | $31.3M | ||
| Q2 24 | $1.2B | $48.5M |
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 | — | $-1.9M |
| 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.
| Q1 26 | — | — | ||
| Q4 25 | $285.3M | $-1.9M | ||
| Q3 25 | $47.3M | $-1.6M | ||
| Q2 25 | $63.3M | $-2.7M | ||
| Q1 25 | $74.2M | $-2.7M | ||
| Q4 24 | $390.5M | $-1.6M | ||
| Q3 24 | $90.8M | $3.0M | ||
| Q2 24 | $78.8M | $-4.4M |
| Q1 26 | — | — | ||
| Q4 25 | $285.0M | — | ||
| Q3 25 | $47.3M | — | ||
| Q2 25 | $63.1M | — | ||
| Q1 25 | $74.1M | — | ||
| Q4 24 | $388.8M | — | ||
| Q3 24 | $90.5M | — | ||
| Q2 24 | $78.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | 2554.2% | — | ||
| Q3 25 | 462.2% | — | ||
| Q2 25 | 272.7% | — | ||
| Q1 25 | 375.1% | — | ||
| Q4 24 | 1180.9% | — | ||
| Q3 24 | 416.5% | — | ||
| Q2 24 | 376.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | 2.7% | — | ||
| Q3 25 | 0.1% | — | ||
| Q2 25 | 0.8% | — | ||
| Q1 25 | 0.4% | — | ||
| Q4 24 | 5.1% | — | ||
| Q3 24 | 1.5% | — | ||
| Q2 24 | 1.9% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 39.95× | — | ||
| Q3 24 | 79.85× | — | ||
| Q2 24 | 90.94× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAFN
| Net Interest Income | $9.4M | 91% |
| Noninterest Income | $884.0K | 9% |
DRCT
| Buy Side Advertising | $8.2M | 98% |
| Other | $183.0K | 2% |
