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Side-by-side financial comparison of Electromed, Inc. (ELMD) and Metalpha Technology Holding Ltd (MATH). Click either name above to swap in a different company.

Electromed, Inc. is the larger business by last-quarter revenue ($18.9M vs $12.0M, roughly 1.6× Metalpha Technology Holding Ltd). Electromed, Inc. runs the higher net margin — 14.6% vs -24.0%, a 38.6% gap on every dollar of revenue. On growth, Electromed, Inc. posted the faster year-over-year revenue change (16.3% vs -39.0%).

Electromed, Inc. is a specialized medical device firm developing, manufacturing, and distributing advanced respiratory care products. Its core offerings are high-frequency chest wall oscillation systems that clear airway secretions for patients with cystic fibrosis, COPD and other respiratory conditions, serving U.S. home care and clinical customers.

Metalpha Technology Holding Ltd is a global fintech firm specializing in digital asset wealth management, institutional-grade crypto investment services, and Web3 ecosystem infrastructure support. It serves professional investors, financial institutions, and high-net-worth clients across Asia, North America and Europe, with core segments including structured digital asset products, risk management solutions and DeFi technology development.

ELMD vs MATH — Head-to-Head

Bigger by revenue
ELMD
ELMD
1.6× larger
ELMD
$18.9M
$12.0M
MATH
Growing faster (revenue YoY)
ELMD
ELMD
+55.3% gap
ELMD
16.3%
-39.0%
MATH
Higher net margin
ELMD
ELMD
38.6% more per $
ELMD
14.6%
-24.0%
MATH

Income Statement — Q2 FY2026 vs Q3 FY2025

Metric
ELMD
ELMD
MATH
MATH
Revenue
$18.9M
$12.0M
Net Profit
$2.8M
$-2.9M
Gross Margin
78.4%
28.3%
Operating Margin
19.2%
-24.2%
Net Margin
14.6%
-24.0%
Revenue YoY
16.3%
-39.0%
Net Profit YoY
40.3%
-147.7%
EPS (diluted)
$0.32
$-0.07

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
ELMD
ELMD
MATH
MATH
Q4 25
$18.9M
Q3 25
$16.9M
$12.0M
Q2 25
$17.4M
Q1 25
$15.7M
$24.8M
Q4 24
$16.3M
Q3 24
$14.7M
$19.7M
Q2 24
$14.8M
Q1 24
$13.9M
Net Profit
ELMD
ELMD
MATH
MATH
Q4 25
$2.8M
Q3 25
$2.1M
$-2.9M
Q2 25
$2.2M
Q1 25
$1.9M
$9.8M
Q4 24
$2.0M
Q3 24
$1.5M
$6.0M
Q2 24
$1.8M
Q1 24
$1.5M
Gross Margin
ELMD
ELMD
MATH
MATH
Q4 25
78.4%
Q3 25
78.1%
28.3%
Q2 25
78.3%
Q1 25
78.0%
85.7%
Q4 24
77.7%
Q3 24
78.3%
49.5%
Q2 24
76.2%
Q1 24
74.8%
Operating Margin
ELMD
ELMD
MATH
MATH
Q4 25
19.2%
Q3 25
15.8%
-24.2%
Q2 25
17.5%
Q1 25
13.6%
39.3%
Q4 24
15.6%
Q3 24
13.2%
38.9%
Q2 24
15.7%
Q1 24
13.3%
Net Margin
ELMD
ELMD
MATH
MATH
Q4 25
14.6%
Q3 25
12.6%
-24.0%
Q2 25
12.7%
Q1 25
12.1%
39.6%
Q4 24
12.1%
Q3 24
10.0%
30.7%
Q2 24
12.3%
Q1 24
10.8%
EPS (diluted)
ELMD
ELMD
MATH
MATH
Q4 25
$0.32
Q3 25
$0.25
$-0.07
Q2 25
$0.26
Q1 25
$0.21
$0.25
Q4 24
$0.22
Q3 24
$0.16
$0.16
Q2 24
$0.20
Q1 24
$0.17

Balance Sheet & Financial Strength

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

Metric
ELMD
ELMD
MATH
MATH
Cash + ST InvestmentsLiquidity on hand
$13.8M
$10.1M
Total DebtLower is stronger
$101.2K
Stockholders' EquityBook value
$45.4M
$35.1M
Total Assets
$54.9M
$413.8M
Debt / EquityLower = less leverage
0.00×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
ELMD
ELMD
MATH
MATH
Q4 25
$13.8M
Q3 25
$14.1M
$10.1M
Q2 25
$15.3M
Q1 25
$15.2M
$6.9M
Q4 24
$16.2M
Q3 24
$13.9M
$3.8M
Q2 24
$16.1M
Q1 24
$11.7M
Total Debt
ELMD
ELMD
MATH
MATH
Q4 25
Q3 25
$101.2K
Q2 25
Q1 25
$188.0K
Q4 24
Q3 24
$275.1K
Q2 24
Q1 24
Stockholders' Equity
ELMD
ELMD
MATH
MATH
Q4 25
$45.4M
Q3 25
$44.7M
$35.1M
Q2 25
$43.2M
Q1 25
$43.9M
$36.6M
Q4 24
$43.6M
Q3 24
$41.5M
$25.3M
Q2 24
$44.5M
Q1 24
$42.5M
Total Assets
ELMD
ELMD
MATH
MATH
Q4 25
$54.9M
Q3 25
$53.6M
$413.8M
Q2 25
$53.8M
Q1 25
$52.5M
$246.8M
Q4 24
$52.3M
Q3 24
$48.9M
$237.2M
Q2 24
$52.2M
Q1 24
$48.9M
Debt / Equity
ELMD
ELMD
MATH
MATH
Q4 25
Q3 25
0.00×
Q2 25
Q1 25
0.01×
Q4 24
Q3 24
0.01×
Q2 24
Q1 24

Cash Flow & Capital Efficiency

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

Metric
ELMD
ELMD
MATH
MATH
Operating Cash FlowLast quarter
$3.0M
$3.3M
Free Cash FlowOCF − Capex
$2.4M
FCF MarginFCF / Revenue
12.7%
Capex IntensityCapex / Revenue
3.4%
Cash ConversionOCF / Net Profit
1.10×
TTM Free Cash FlowTrailing 4 quarters
$7.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
ELMD
ELMD
MATH
MATH
Q4 25
$3.0M
Q3 25
$169.0K
$3.3M
Q2 25
$3.9M
Q1 25
$2.1M
$16.2M
Q4 24
$3.2M
Q3 24
$2.3M
$-16.1M
Q2 24
$4.5M
Q1 24
$1.4M
Free Cash Flow
ELMD
ELMD
MATH
MATH
Q4 25
$2.4M
Q3 25
$-83.0K
Q2 25
$3.7M
Q1 25
$1.9M
Q4 24
$2.9M
Q3 24
$2.3M
Q2 24
$4.5M
Q1 24
$1.3M
FCF Margin
ELMD
ELMD
MATH
MATH
Q4 25
12.7%
Q3 25
-0.5%
Q2 25
21.4%
Q1 25
12.2%
Q4 24
18.0%
Q3 24
15.5%
Q2 24
30.1%
Q1 24
9.1%
Capex Intensity
ELMD
ELMD
MATH
MATH
Q4 25
3.4%
Q3 25
1.5%
Q2 25
0.8%
Q1 25
1.0%
Q4 24
1.4%
Q3 24
0.3%
Q2 24
0.1%
Q1 24
0.6%
Cash Conversion
ELMD
ELMD
MATH
MATH
Q4 25
1.10×
Q3 25
0.08×
Q2 25
1.75×
Q1 25
1.10×
1.64×
Q4 24
1.60×
Q3 24
1.57×
-2.66×
Q2 24
2.46×
Q1 24
0.90×

Financial Flow Comparison

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

Revenue Breakdown by Segment

ELMD
ELMD

Homecare$17.3M91%
Other$1.6M9%

MATH
MATH

Segment breakdown not available.

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