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Side-by-side financial comparison of Broadstone Net Lease, Inc. (BNL) 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 $121.4M, roughly 1.2× Broadstone Net Lease, Inc.). Broadstone Net Lease, Inc. runs the higher net margin — 38.2% vs -2.3%, a 40.5% gap on every dollar of revenue. On growth, Broadstone Net Lease, Inc. posted the faster year-over-year revenue change (11.7% vs 9.1%). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% CAGR vs 7.1%).
Broadstone Net Lease, Inc. is a real estate investment trust (REIT) that acquires, owns, and manages a diversified portfolio of single-tenant commercial real estate assets across the United States. Its portfolio covers key segments including industrial facilities, healthcare properties, retail locations, and office spaces, all leased to tenants under long-term net lease agreements.
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.”
BNL vs PRPL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $121.4M | $140.7M |
| Net Profit | $46.4M | $-3.2M |
| Gross Margin | — | 41.9% |
| Operating Margin | 52.2% | -1.6% |
| Net Margin | 38.2% | -2.3% |
| Revenue YoY | 11.7% | 9.1% |
| Net Profit YoY | — | 62.1% |
| EPS (diluted) | $0.24 | $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.
| Q1 26 | $121.4M | — | ||
| Q4 25 | $118.3M | $140.7M | ||
| Q3 25 | $114.2M | $118.8M | ||
| Q2 25 | $113.0M | $105.1M | ||
| Q1 25 | $108.7M | $104.2M | ||
| Q4 24 | $112.1M | $129.0M | ||
| Q3 24 | $108.4M | $118.6M | ||
| Q2 24 | $105.9M | $120.3M |
| Q1 26 | $46.4M | — | ||
| Q4 25 | $33.1M | $-3.2M | ||
| Q3 25 | $26.5M | $-11.7M | ||
| Q2 25 | $20.2M | $-17.3M | ||
| Q1 25 | $16.7M | $-19.1M | ||
| Q4 24 | $26.4M | $-8.5M | ||
| Q3 24 | $35.6M | $-39.2M | ||
| Q2 24 | $35.3M | $27.0K |
| Q1 26 | — | — | ||
| 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 26 | 52.2% | — | ||
| Q4 25 | — | -1.6% | ||
| Q3 25 | — | -10.2% | ||
| Q2 25 | — | -13.5% | ||
| Q1 25 | — | -13.9% | ||
| Q4 24 | — | -6.0% | ||
| Q3 24 | — | -39.5% | ||
| Q2 24 | — | -12.1% |
| Q1 26 | 38.2% | — | ||
| Q4 25 | 28.0% | -2.3% | ||
| Q3 25 | 23.2% | -9.9% | ||
| Q2 25 | 17.8% | -16.5% | ||
| Q1 25 | 15.4% | -18.4% | ||
| Q4 24 | 23.5% | -6.6% | ||
| Q3 24 | 32.8% | -33.1% | ||
| Q2 24 | 33.4% | 0.0% |
| Q1 26 | $0.24 | — | ||
| Q4 25 | $0.17 | $0.03 | ||
| Q3 25 | $0.14 | $0.11 | ||
| Q2 25 | $0.10 | $0.16 | ||
| Q1 25 | $0.09 | $0.18 | ||
| Q4 24 | $0.13 | $0.08 | ||
| Q3 24 | $0.19 | $0.36 | ||
| Q2 24 | $0.19 | $0.00 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.3M | $24.3M |
| Total DebtLower is stronger | — | $126.7M |
| Stockholders' EquityBook value | $3.0B | $-29.7M |
| Total Assets | $5.8B | $296.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $20.3M | — | ||
| Q4 25 | $30.5M | $24.3M | ||
| Q3 25 | $82.0M | $32.4M | ||
| Q2 25 | $20.8M | $34.2M | ||
| Q1 25 | $9.6M | $21.6M | ||
| Q4 24 | $14.8M | $29.0M | ||
| Q3 24 | $9.0M | $23.4M | ||
| Q2 24 | $18.3M | $23.4M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $126.7M | ||
| Q3 25 | $2.4B | — | ||
| Q2 25 | $2.1B | — | ||
| Q1 25 | $2.0B | — | ||
| Q4 24 | $1.9B | $70.7M | ||
| Q3 24 | $2.0B | $50.8M | ||
| Q2 24 | $1.9B | — |
| Q1 26 | $3.0B | — | ||
| Q4 25 | $2.9B | $-29.7M | ||
| Q3 25 | $2.9B | $-26.9M | ||
| Q2 25 | $2.9B | $-15.6M | ||
| Q1 25 | $2.9B | $1.3M | ||
| Q4 24 | $3.0B | $20.2M | ||
| Q3 24 | $3.0B | $28.0M | ||
| Q2 24 | $3.1B | $66.4M |
| Q1 26 | $5.8B | — | ||
| Q4 25 | $5.7B | $296.3M | ||
| Q3 25 | $5.5B | $302.1M | ||
| Q2 25 | $5.3B | $303.8M | ||
| Q1 25 | $5.2B | $293.8M | ||
| Q4 24 | $5.2B | $307.8M | ||
| Q3 24 | $5.3B | $309.3M | ||
| Q2 24 | $5.3B | $362.1M |
| Q1 26 | — | — | ||
| Q4 25 | 0.87× | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | 0.73× | — | ||
| Q1 25 | 0.68× | — | ||
| Q4 24 | 0.64× | 3.50× | ||
| Q3 24 | 0.65× | 1.82× | ||
| Q2 24 | 0.62× | — |
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 | — | $-5.8M |
| Free Cash FlowOCF − Capex | — | $-7.8M |
| FCF MarginFCF / Revenue | — | -5.5% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $299.5M | $-5.8M | ||
| Q3 25 | $64.2M | $-968.0K | ||
| Q2 25 | $79.3M | $-4.0M | ||
| Q1 25 | $71.5M | $-23.1M | ||
| Q4 24 | $276.3M | $6.8M | ||
| Q3 24 | $67.3M | $1.1M | ||
| Q2 24 | $74.2M | $-8.9M |
| Q1 26 | — | — | ||
| Q4 25 | $269.8M | $-7.8M | ||
| Q3 25 | $58.0M | $-1.8M | ||
| Q2 25 | $76.7M | $-7.0M | ||
| Q1 25 | $57.1M | $-25.3M | ||
| Q4 24 | $259.5M | $5.7M | ||
| Q3 24 | $60.3M | $101.0K | ||
| Q2 24 | $74.0M | $-11.0M |
| Q1 26 | — | — | ||
| Q4 25 | 228.1% | -5.5% | ||
| Q3 25 | 50.8% | -1.5% | ||
| Q2 25 | 67.9% | -6.6% | ||
| Q1 25 | 52.5% | -24.3% | ||
| Q4 24 | 231.4% | 4.4% | ||
| Q3 24 | 55.6% | 0.1% | ||
| Q2 24 | 69.9% | -9.2% |
| Q1 26 | — | — | ||
| Q4 25 | 25.1% | 1.4% | ||
| Q3 25 | 5.4% | 0.7% | ||
| Q2 25 | 2.3% | 2.8% | ||
| Q1 25 | 13.2% | 2.2% | ||
| Q4 24 | 15.0% | 0.8% | ||
| Q3 24 | 6.5% | 0.9% | ||
| Q2 24 | 0.2% | 1.7% |
| Q1 26 | — | — | ||
| Q4 25 | 9.04× | — | ||
| Q3 25 | 2.43× | — | ||
| Q2 25 | 3.93× | — | ||
| Q1 25 | 4.27× | — | ||
| Q4 24 | 10.47× | — | ||
| Q3 24 | 1.89× | — | ||
| Q2 24 | 2.10× | -330.22× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BNL
Segment breakdown not available.
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
