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Side-by-side financial comparison of Cardlytics, Inc. (CDLX) and Perma-Pipe International Holdings, Inc. (PPIH). Click either name above to swap in a different company.
Perma-Pipe International Holdings, Inc. is the larger business by last-quarter revenue ($61.1M vs $50.9M, roughly 1.2× Cardlytics, Inc.). On growth, Perma-Pipe International Holdings, Inc. posted the faster year-over-year revenue change (47.1% vs -25.5%). Cardlytics, Inc. produced more free cash flow last quarter ($13.0M vs $12.4M). Over the past eight quarters, Perma-Pipe International Holdings, Inc.'s revenue compounded faster (23.4% CAGR vs -9.6%).
Cardlytics is a leading purchase intelligence and advertising platform that partners with major banks to analyze anonymized consumer transaction data. It delivers targeted, performance-driven ad campaigns for consumer brands, retailers and service providers, helping advertisers reach audiences based on real purchase behavior, with core operations across North America and the United Kingdom.
Perma-Pipe International Holdings, Inc. designs, manufactures and supplies pre-insulated piping systems and integrated leak detection solutions. Its offerings cater to oil & gas, district heating and cooling, industrial, and municipal infrastructure segments, with a global footprint spanning North America, the Middle East, Europe and Asia.
CDLX vs PPIH — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $50.9M | $61.1M |
| Net Profit | — | $6.3M |
| Gross Margin | — | 34.4% |
| Operating Margin | -12.0% | 18.6% |
| Net Margin | — | 10.3% |
| Revenue YoY | -25.5% | 47.1% |
| Net Profit YoY | — | 153.5% |
| EPS (diluted) | $-0.15 | $0.77 |
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 | $50.9M | $61.1M | ||
| Q3 25 | $47.0M | $47.9M | ||
| Q2 25 | $58.0M | $46.7M | ||
| Q1 25 | $56.4M | $45.0M | ||
| Q4 24 | $68.3M | $41.6M | ||
| Q3 24 | $61.1M | $37.5M | ||
| Q2 24 | $64.0M | $34.3M | ||
| Q1 24 | $62.2M | $40.2M |
| Q4 25 | — | $6.3M | ||
| Q3 25 | $-72.7M | $851.0K | ||
| Q2 25 | $-9.3M | $5.0M | ||
| Q1 25 | $-13.3M | $1.8M | ||
| Q4 24 | — | $2.5M | ||
| Q3 24 | $-145.2M | $3.3M | ||
| Q2 24 | $-4.3M | $1.4M | ||
| Q1 24 | $-24.3M | $8.6M |
| Q4 25 | — | 34.4% | ||
| Q3 25 | — | 30.1% | ||
| Q2 25 | — | 35.8% | ||
| Q1 25 | — | 33.7% | ||
| Q4 24 | — | 33.9% | ||
| Q3 24 | — | 35.9% | ||
| Q2 24 | — | 30.6% | ||
| Q1 24 | — | 30.0% |
| Q4 25 | -12.0% | 18.6% | ||
| Q3 25 | -146.6% | 6.7% | ||
| Q2 25 | -22.0% | 16.9% | ||
| Q1 25 | -24.9% | 12.1% | ||
| Q4 24 | -12.2% | 13.4% | ||
| Q3 24 | -243.1% | 16.4% | ||
| Q2 24 | -24.7% | 9.1% | ||
| Q1 24 | -36.7% | 11.3% |
| Q4 25 | — | 10.3% | ||
| Q3 25 | -154.7% | 1.8% | ||
| Q2 25 | -16.0% | 10.6% | ||
| Q1 25 | -23.5% | 3.9% | ||
| Q4 24 | — | 6.0% | ||
| Q3 24 | -237.6% | 8.8% | ||
| Q2 24 | -6.7% | 4.2% | ||
| Q1 24 | -39.0% | 21.5% |
| Q4 25 | $-0.15 | $0.77 | ||
| Q3 25 | $-1.36 | $0.10 | ||
| Q2 25 | $-0.18 | $0.61 | ||
| Q1 25 | $-0.26 | $0.23 | ||
| Q4 24 | $-0.36 | $0.31 | ||
| Q3 24 | $-2.90 | $0.40 | ||
| Q2 24 | $-0.09 | $0.18 | ||
| Q1 24 | $-0.56 | $1.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $48.7M | $27.2M |
| Total DebtLower is stronger | $212.6M | $12.7M |
| Stockholders' EquityBook value | $-6.5M | $85.8M |
| Total Assets | $285.6M | $217.0M |
| Debt / EquityLower = less leverage | — | 0.15× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $48.7M | $27.2M | ||
| Q3 25 | $44.0M | $17.3M | ||
| Q2 25 | $46.7M | $18.8M | ||
| Q1 25 | $52.0M | $15.7M | ||
| Q4 24 | $65.6M | $13.3M | ||
| Q3 24 | $67.0M | $9.5M | ||
| Q2 24 | $71.2M | $7.7M | ||
| Q1 24 | $97.8M | $5.8M |
| Q4 25 | $212.6M | $12.7M | ||
| Q3 25 | $214.6M | — | ||
| Q2 25 | $214.3M | — | ||
| Q1 25 | $213.9M | $15.2M | ||
| Q4 24 | $213.6M | — | ||
| Q3 24 | $213.2M | — | ||
| Q2 24 | $212.9M | — | ||
| Q1 24 | $257.9M | $15.2M |
| Q4 25 | $-6.5M | $85.8M | ||
| Q3 25 | $-4.7M | $80.2M | ||
| Q2 25 | $58.7M | $77.9M | ||
| Q1 25 | $64.1M | $72.1M | ||
| Q4 24 | $70.0M | $71.2M | ||
| Q3 24 | $69.7M | $68.6M | ||
| Q2 24 | $210.0M | $65.5M | ||
| Q1 24 | $199.1M | $65.7M |
| Q4 25 | $285.6M | $217.0M | ||
| Q3 25 | $292.8M | $189.0M | ||
| Q2 25 | $361.1M | $178.3M | ||
| Q1 25 | $369.1M | $165.2M | ||
| Q4 24 | $392.7M | $160.7M | ||
| Q3 24 | $399.4M | $157.8M | ||
| Q2 24 | $534.4M | $155.7M | ||
| Q1 24 | $569.0M | $155.7M |
| Q4 25 | — | 0.15× | ||
| Q3 25 | — | — | ||
| Q2 25 | 3.65× | — | ||
| Q1 25 | 3.34× | 0.21× | ||
| Q4 24 | 3.05× | — | ||
| Q3 24 | 3.06× | — | ||
| Q2 24 | 1.01× | — | ||
| Q1 24 | 1.29× | 0.23× |
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 | $13.0M | $17.3M |
| Free Cash FlowOCF − Capex | $13.0M | $12.4M |
| FCF MarginFCF / Revenue | 25.5% | 20.2% |
| Capex IntensityCapex / Revenue | 0.0% | 8.1% |
| Cash ConversionOCF / Net Profit | — | 2.74× |
| TTM Free Cash FlowTrailing 4 quarters | $8.8M | $12.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $13.0M | $17.3M | ||
| Q3 25 | $1.8M | $-2.0M | ||
| Q2 25 | $1.2M | $733.0K | ||
| Q1 25 | $-6.7M | $6.0M | ||
| Q4 24 | $3.0M | $5.2M | ||
| Q3 24 | $1.4M | $2.8M | ||
| Q2 24 | $4.4M | $-73.0K | ||
| Q1 24 | $-17.6M | $7.1M |
| Q4 25 | $13.0M | $12.4M | ||
| Q3 25 | $1.7M | $-4.6M | ||
| Q2 25 | $903.0K | $-194.0K | ||
| Q1 25 | $-6.8M | $4.7M | ||
| Q4 24 | $2.9M | $4.8M | ||
| Q3 24 | $878.0K | $2.2M | ||
| Q2 24 | $4.1M | $-662.0K | ||
| Q1 24 | $-18.3M | $4.2M |
| Q4 25 | 25.5% | 20.2% | ||
| Q3 25 | 3.7% | -9.6% | ||
| Q2 25 | 1.6% | -0.4% | ||
| Q1 25 | -12.1% | 10.5% | ||
| Q4 24 | 4.2% | 11.6% | ||
| Q3 24 | 1.4% | 5.8% | ||
| Q2 24 | 6.5% | -1.9% | ||
| Q1 24 | -29.4% | 10.5% |
| Q4 25 | 0.0% | 8.1% | ||
| Q3 25 | 0.0% | 5.3% | ||
| Q2 25 | 0.6% | 2.0% | ||
| Q1 25 | 0.2% | 2.9% | ||
| Q4 24 | 0.2% | 0.8% | ||
| Q3 24 | 0.8% | 1.7% | ||
| Q2 24 | 0.4% | 1.7% | ||
| Q1 24 | 1.0% | 7.2% |
| Q4 25 | — | 2.74× | ||
| Q3 25 | — | -2.40× | ||
| Q2 25 | — | 0.15× | ||
| Q1 25 | — | 3.42× | ||
| Q4 24 | — | 2.07× | ||
| Q3 24 | — | 0.86× | ||
| Q2 24 | — | -0.05× | ||
| Q1 24 | — | 0.82× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
