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Side-by-side financial comparison of DLH Holdings Corp. (DLHC) and HIVE Digital Technologies Ltd. (HIVE). Click either name above to swap in a different company.

HIVE Digital Technologies Ltd. is the larger business by last-quarter revenue ($93.1M vs $68.9M, roughly 1.4× DLH Holdings Corp.). DLH Holdings Corp. runs the higher net margin — -1.9% vs -98.1%, a 96.2% gap on every dollar of revenue. On growth, HIVE Digital Technologies Ltd. posted the faster year-over-year revenue change (218.6% vs -24.1%). Over the past eight quarters, HIVE Digital Technologies Ltd.'s revenue compounded faster (102.2% CAGR vs -17.4%).

DLH Holdings Corp. is a U.S.-based provider of technology-enabled healthcare, logistics, engineering, and mission support services primarily serving federal government agencies including the Department of Veterans Affairs, Department of Defense, and Department of Health and Human Services, as well as select state and local government clients across core public service segments.

Mastech Digital, Inc. is a digital transformation and information technology (IT) services company headquartered in Pittsburgh, Pennsylvania, providing services to corporations across North America, Middle East, Asian, and Japan.

DLHC vs HIVE — Head-to-Head

Bigger by revenue
HIVE
HIVE
1.4× larger
HIVE
$93.1M
$68.9M
DLHC
Growing faster (revenue YoY)
HIVE
HIVE
+242.7% gap
HIVE
218.6%
-24.1%
DLHC
Higher net margin
DLHC
DLHC
96.2% more per $
DLHC
-1.9%
-98.1%
HIVE
Faster 2-yr revenue CAGR
HIVE
HIVE
Annualised
HIVE
102.2%
-17.4%
DLHC

Income Statement — Q1 FY2026 vs Q3 FY2026

Metric
DLHC
DLHC
HIVE
HIVE
Revenue
$68.9M
$93.1M
Net Profit
$-1.3M
$-91.3M
Gross Margin
-27.1%
Operating Margin
2.1%
Net Margin
-1.9%
-98.1%
Revenue YoY
-24.1%
218.6%
Net Profit YoY
-218.7%
-234.0%
EPS (diluted)
$-0.09
$-0.38

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.

Revenue
DLHC
DLHC
HIVE
HIVE
Q4 25
$68.9M
$93.1M
Q3 25
$81.2M
$87.3M
Q2 25
$83.3M
$45.6M
Q1 25
$89.2M
Q4 24
$90.8M
$29.2M
Q3 24
$96.4M
$22.6M
Q2 24
$100.7M
$32.2M
Q1 24
$101.0M
Net Profit
DLHC
DLHC
HIVE
HIVE
Q4 25
$-1.3M
$-91.3M
Q3 25
$-920.0K
$-15.8M
Q2 25
$289.0K
$35.0M
Q1 25
$878.0K
Q4 24
$1.1M
$68.2M
Q3 24
$2.3M
$80.0K
Q2 24
$1.1M
$-18.3M
Q1 24
$1.8M
Gross Margin
DLHC
DLHC
HIVE
HIVE
Q4 25
-27.1%
Q3 25
4.7%
Q2 25
-13.6%
Q1 25
Q4 24
-43.7%
Q3 24
-66.1%
Q2 24
-7.4%
Q1 24
Operating Margin
DLHC
DLHC
HIVE
HIVE
Q4 25
2.1%
Q3 25
2.8%
Q2 25
4.5%
Q1 25
5.7%
Q4 24
6.2%
Q3 24
6.6%
Q2 24
5.7%
Q1 24
5.9%
Net Margin
DLHC
DLHC
HIVE
HIVE
Q4 25
-1.9%
-98.1%
Q3 25
-1.1%
-18.1%
Q2 25
0.3%
76.8%
Q1 25
1.0%
Q4 24
1.2%
233.2%
Q3 24
2.4%
0.4%
Q2 24
1.1%
-56.7%
Q1 24
1.8%
EPS (diluted)
DLHC
DLHC
HIVE
HIVE
Q4 25
$-0.09
$-0.38
Q3 25
$-0.07
$-0.07
Q2 25
$0.02
$0.18
Q1 25
$0.06
Q4 24
$0.08
$0.52
Q3 24
$0.16
$0.00
Q2 24
$0.08
$-0.17
Q1 24
$0.12

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
DLHC
DLHC
HIVE
HIVE
Cash + ST InvestmentsLiquidity on hand
$257.0K
Total DebtLower is stronger
$133.5M
Stockholders' EquityBook value
$112.2M
$559.3M
Total Assets
$283.5M
$624.0M
Debt / EquityLower = less leverage
1.19×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
DLHC
DLHC
HIVE
HIVE
Q4 25
$257.0K
Q3 25
$125.0K
Q2 25
$194.0K
Q1 25
$196.0K
Q4 24
$451.0K
$40.5M
Q3 24
$342.0K
$31.7M
Q2 24
$423.0K
Q1 24
$238.0K
Total Debt
DLHC
DLHC
HIVE
HIVE
Q4 25
$133.5M
Q3 25
$128.0M
Q2 25
$138.3M
Q1 25
$147.3M
Q4 24
$162.2M
Q3 24
$149.4M
Q2 24
$160.9M
Q1 24
$164.8M
Stockholders' Equity
DLHC
DLHC
HIVE
HIVE
Q4 25
$112.2M
$559.3M
Q3 25
$113.0M
$624.6M
Q2 25
$113.7M
$560.5M
Q1 25
$112.8M
Q4 24
$111.4M
$430.9M
Q3 24
$110.1M
$275.5M
Q2 24
$108.6M
$268.6M
Q1 24
$106.8M
Total Assets
DLHC
DLHC
HIVE
HIVE
Q4 25
$283.5M
$624.0M
Q3 25
$290.7M
$693.0M
Q2 25
$299.3M
$628.7M
Q1 25
$306.6M
Q4 24
$325.0M
$478.6M
Q3 24
$314.4M
$334.7M
Q2 24
$325.0M
Q1 24
$325.9M
Debt / Equity
DLHC
DLHC
HIVE
HIVE
Q4 25
1.19×
Q3 25
1.13×
Q2 25
1.22×
Q1 25
1.31×
Q4 24
1.46×
Q3 24
1.36×
Q2 24
1.48×
Q1 24
1.54×

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
DLHC
DLHC
HIVE
HIVE
Operating Cash FlowLast quarter
$-4.8M
$46.0M
Free Cash FlowOCF − Capex
$-4.8M
FCF MarginFCF / Revenue
-7.0%
Capex IntensityCapex / Revenue
0.1%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$29.2M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
DLHC
DLHC
HIVE
HIVE
Q4 25
$-4.8M
$46.0M
Q3 25
$10.7M
$-10.6M
Q2 25
$9.6M
$10.2M
Q1 25
$14.5M
Q4 24
$-11.5M
$-28.5M
Q3 24
$12.4M
$-2.2M
Q2 24
$4.6M
$-4.4M
Q1 24
$5.2M
Free Cash Flow
DLHC
DLHC
HIVE
HIVE
Q4 25
$-4.8M
Q3 25
$10.7M
Q2 25
$9.4M
Q1 25
$14.0M
Q4 24
$-12.1M
$-55.5M
Q3 24
$12.2M
$-34.7M
Q2 24
$4.5M
Q1 24
$4.9M
FCF Margin
DLHC
DLHC
HIVE
HIVE
Q4 25
-7.0%
Q3 25
13.1%
Q2 25
11.2%
Q1 25
15.6%
Q4 24
-13.3%
-189.9%
Q3 24
12.7%
-153.4%
Q2 24
4.4%
Q1 24
4.9%
Capex Intensity
DLHC
DLHC
HIVE
HIVE
Q4 25
0.1%
Q3 25
0.0%
Q2 25
0.3%
Q1 25
0.6%
Q4 24
0.6%
92.5%
Q3 24
0.2%
143.9%
Q2 24
0.2%
Q1 24
0.3%
Cash Conversion
DLHC
DLHC
HIVE
HIVE
Q4 25
Q3 25
Q2 25
33.12×
0.29×
Q1 25
16.52×
Q4 24
-10.35×
-0.42×
Q3 24
5.42×
-26.94×
Q2 24
4.06×
Q1 24
2.89×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

DLHC
DLHC

Sales Channel Directly To Consumer$64.5M94%
Sales Channel Through Intermediary$4.4M6%

HIVE
HIVE

Segment breakdown not available.

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