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Side-by-side financial comparison of Clarus Corp (CLAR) and Vanda Pharmaceuticals Inc. (VNDA). Click either name above to swap in a different company.
Clarus Corp is the larger business by last-quarter revenue ($65.4M vs $57.2M, roughly 1.1× Vanda Pharmaceuticals Inc.). Clarus Corp runs the higher net margin — -47.8% vs -246.8%, a 199.0% gap on every dollar of revenue. On growth, Vanda Pharmaceuticals Inc. posted the faster year-over-year revenue change (7.6% vs -8.4%). Clarus Corp produced more free cash flow last quarter ($11.6M vs $-29.5M). Over the past eight quarters, Vanda Pharmaceuticals Inc.'s revenue compounded faster (9.8% CAGR vs -2.9%).
Clarus Corp is a global designer, manufacturer, and distributor of high-performance outdoor recreation, climbing, camping, and lifestyle products. It manages a portfolio of leading consumer brands, serving outdoor enthusiasts, professional athletes, and retail partners across North America, Europe, and the Asia-Pacific region, with a focus on innovative, durable gear for active lifestyles.
Vanda Pharmaceuticals Inc. is a biopharmaceutical company focused on developing and commercializing innovative therapies for central nervous system disorders. Its key marketed products cover indications including sleep-wake cycle disturbances and schizophrenia, with core operations and primary sales markets concentrated in North America, catering to patient groups with significant unmet medical needs.
CLAR vs VNDA — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $65.4M | $57.2M |
| Net Profit | $-31.3M | $-141.2M |
| Gross Margin | 27.7% | — |
| Operating Margin | -59.6% | -70.5% |
| Net Margin | -47.8% | -246.8% |
| Revenue YoY | -8.4% | 7.6% |
| Net Profit YoY | 52.3% | -2774.3% |
| EPS (diluted) | $-0.81 | $-2.40 |
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 | $65.4M | $57.2M | ||
| Q3 25 | $69.3M | $56.3M | ||
| Q2 25 | $55.2M | $52.6M | ||
| Q1 25 | $60.4M | $50.0M | ||
| Q4 24 | $71.4M | $53.2M | ||
| Q3 24 | $67.1M | $47.7M | ||
| Q2 24 | $56.5M | $50.5M | ||
| Q1 24 | $69.3M | $47.5M |
| Q4 25 | $-31.3M | $-141.2M | ||
| Q3 25 | $-1.6M | $-22.6M | ||
| Q2 25 | $-8.4M | $-27.2M | ||
| Q1 25 | $-5.2M | $-29.5M | ||
| Q4 24 | $-65.5M | $-4.9M | ||
| Q3 24 | $-3.2M | $-5.3M | ||
| Q2 24 | $-5.5M | $-4.5M | ||
| Q1 24 | $21.9M | $-4.1M |
| Q4 25 | 27.7% | — | ||
| Q3 25 | 35.1% | — | ||
| Q2 25 | 35.6% | — | ||
| Q1 25 | 34.4% | — | ||
| Q4 24 | 33.4% | — | ||
| Q3 24 | 35.0% | — | ||
| Q2 24 | 36.1% | — | ||
| Q1 24 | 35.9% | — |
| Q4 25 | -59.6% | -70.5% | ||
| Q3 25 | -4.4% | -55.6% | ||
| Q2 25 | -19.7% | -73.2% | ||
| Q1 25 | -11.2% | -82.0% | ||
| Q4 24 | -70.2% | -19.3% | ||
| Q3 24 | -8.0% | -23.1% | ||
| Q2 24 | -14.4% | -20.1% | ||
| Q1 24 | -9.8% | -19.5% |
| Q4 25 | -47.8% | -246.8% | ||
| Q3 25 | -2.3% | -40.1% | ||
| Q2 25 | -15.3% | -51.7% | ||
| Q1 25 | -8.7% | -58.9% | ||
| Q4 24 | -91.8% | -9.2% | ||
| Q3 24 | -4.7% | -11.2% | ||
| Q2 24 | -9.7% | -9.0% | ||
| Q1 24 | 31.6% | -8.7% |
| Q4 25 | $-0.81 | $-2.40 | ||
| Q3 25 | $-0.04 | $-0.38 | ||
| Q2 25 | $-0.22 | $-0.46 | ||
| Q1 25 | $-0.14 | $-0.50 | ||
| Q4 24 | $-1.72 | $-0.09 | ||
| Q3 24 | $-0.08 | $-0.09 | ||
| Q2 24 | $-0.14 | $-0.08 | ||
| Q1 24 | $0.57 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $36.7M | $84.9M |
| Total DebtLower is stronger | $0 | — |
| Stockholders' EquityBook value | $196.4M | $327.2M |
| Total Assets | $249.0M | $488.9M |
| Debt / EquityLower = less leverage | 0.00× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $36.7M | $84.9M | ||
| Q3 25 | $29.5M | $70.0M | ||
| Q2 25 | $28.5M | $81.0M | ||
| Q1 25 | $41.3M | $111.8M | ||
| Q4 24 | $45.4M | $102.3M | ||
| Q3 24 | $36.4M | $100.5M | ||
| Q2 24 | $46.2M | $103.0M | ||
| Q1 24 | $47.5M | $125.2M |
| Q4 25 | $0 | — | ||
| Q3 25 | $2.0M | — | ||
| Q2 25 | $1.9M | — | ||
| Q1 25 | $1.9M | — | ||
| Q4 24 | $1.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $37.0K | — |
| Q4 25 | $196.4M | $327.2M | ||
| Q3 25 | $225.8M | $466.0M | ||
| Q2 25 | $225.1M | $486.3M | ||
| Q1 25 | $229.3M | $511.4M | ||
| Q4 24 | $233.1M | $538.5M | ||
| Q3 24 | $308.5M | $541.2M | ||
| Q2 24 | $307.3M | $542.5M | ||
| Q1 24 | $310.4M | $544.0M |
| Q4 25 | $249.0M | $488.9M | ||
| Q3 25 | $283.1M | $601.1M | ||
| Q2 25 | $286.5M | $624.7M | ||
| Q1 25 | $292.8M | $631.9M | ||
| Q4 24 | $294.1M | $656.2M | ||
| Q3 24 | $375.3M | $645.1M | ||
| Q2 24 | $369.4M | $651.4M | ||
| Q1 24 | $377.0M | $652.7M |
| Q4 25 | 0.00× | — | ||
| Q3 25 | 0.01× | — | ||
| Q2 25 | 0.01× | — | ||
| Q1 25 | 0.01× | — | ||
| Q4 24 | 0.01× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.00× | — |
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 | $12.5M | $-29.4M |
| Free Cash FlowOCF − Capex | $11.6M | $-29.5M |
| FCF MarginFCF / Revenue | 17.7% | -51.6% |
| Capex IntensityCapex / Revenue | 1.4% | 0.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-9.9M | $-110.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.5M | $-29.4M | ||
| Q3 25 | $-5.7M | $-31.6M | ||
| Q2 25 | $-9.4M | $-15.3M | ||
| Q1 25 | $-2.1M | $-33.1M | ||
| Q4 24 | $16.6M | $-1.8M | ||
| Q3 24 | $-8.3M | $-14.6M | ||
| Q2 24 | $834.0K | $-6.9M | ||
| Q1 24 | $-16.4M | $7.6M |
| Q4 25 | $11.6M | $-29.5M | ||
| Q3 25 | $-7.0M | $-31.8M | ||
| Q2 25 | $-11.3M | $-15.6M | ||
| Q1 25 | $-3.3M | $-33.6M | ||
| Q4 24 | $14.4M | $-2.0M | ||
| Q3 24 | $-9.4M | $-14.7M | ||
| Q2 24 | $-744.0K | $-7.0M | ||
| Q1 24 | $-18.3M | $7.6M |
| Q4 25 | 17.7% | -51.6% | ||
| Q3 25 | -10.0% | -56.5% | ||
| Q2 25 | -20.4% | -29.6% | ||
| Q1 25 | -5.4% | -67.1% | ||
| Q4 24 | 20.1% | -3.8% | ||
| Q3 24 | -14.0% | -30.9% | ||
| Q2 24 | -1.3% | -13.9% | ||
| Q1 24 | -26.3% | 15.9% |
| Q4 25 | 1.4% | 0.2% | ||
| Q3 25 | 1.8% | 0.3% | ||
| Q2 25 | 3.4% | 0.6% | ||
| Q1 25 | 2.0% | 0.9% | ||
| Q4 24 | 3.1% | 0.4% | ||
| Q3 24 | 1.6% | 0.3% | ||
| Q2 24 | 2.8% | 0.2% | ||
| Q1 24 | 2.7% | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -0.75× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CLAR
| Other | $37.1M | 57% |
| Outdoor Segment | $25.3M | 39% |
| Adventure Segment | $3.0M | 5% |
VNDA
| Fanapt | $33.2M | 58% |
| Hetlioz | $16.4M | 29% |
| PONVORY | $7.6M | 13% |
