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Side-by-side financial comparison of ESTABLISHMENT LABS HOLDINGS INC. (ESTA) and INDEPENDENT BANK CORP (IBCP). Click either name above to swap in a different company.
ESTABLISHMENT LABS HOLDINGS INC. is the larger business by last-quarter revenue ($64.6M vs $58.9M, roughly 1.1× INDEPENDENT BANK CORP). Over the past eight quarters, ESTABLISHMENT LABS HOLDINGS INC.'s revenue compounded faster (31.9% CAGR vs 2.1%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
Independent Bank is a bank headquartered in Grand Rapids, Michigan. The bank has 62 branches, all of which are in Michigan.
ESTA vs IBCP — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $64.6M | $58.9M |
| Net Profit | — | $16.9M |
| Gross Margin | 70.5% | — |
| Operating Margin | -6.1% | — |
| Net Margin | — | 28.6% |
| Revenue YoY | 45.2% | — |
| Net Profit YoY | — | 8.2% |
| EPS (diluted) | $-0.07 | $0.81 |
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 | — | $58.9M | ||
| Q4 25 | $64.6M | $58.3M | ||
| Q3 25 | $53.8M | $57.3M | ||
| Q2 25 | $51.3M | $55.9M | ||
| Q1 25 | $41.4M | $54.1M | ||
| Q4 24 | $44.5M | $62.0M | ||
| Q3 24 | $40.2M | $51.4M | ||
| Q2 24 | $44.1M | $56.5M |
| Q1 26 | — | $16.9M | ||
| Q4 25 | — | $18.6M | ||
| Q3 25 | $-11.1M | $17.5M | ||
| Q2 25 | $-16.6M | $16.9M | ||
| Q1 25 | $-20.7M | $15.6M | ||
| Q4 24 | — | $18.5M | ||
| Q3 24 | $-16.7M | $13.8M | ||
| Q2 24 | $-17.2M | $18.5M |
| Q1 26 | — | — | ||
| Q4 25 | 70.5% | — | ||
| Q3 25 | 70.1% | — | ||
| Q2 25 | 68.8% | — | ||
| Q1 25 | 67.2% | — | ||
| Q4 24 | 68.5% | — | ||
| Q3 24 | 63.9% | — | ||
| Q2 24 | 65.6% | — |
| Q1 26 | — | — | ||
| Q4 25 | -6.1% | 34.8% | ||
| Q3 25 | -7.5% | 37.0% | ||
| Q2 25 | -27.5% | 37.0% | ||
| Q1 25 | -41.0% | 35.3% | ||
| Q4 24 | -41.9% | 36.7% | ||
| Q3 24 | -32.7% | 33.7% | ||
| Q2 24 | -21.2% | 41.0% |
| Q1 26 | — | 28.6% | ||
| Q4 25 | — | 31.8% | ||
| Q3 25 | -20.7% | 30.5% | ||
| Q2 25 | -32.3% | 30.2% | ||
| Q1 25 | -50.1% | 28.8% | ||
| Q4 24 | — | 29.8% | ||
| Q3 24 | -41.5% | 26.9% | ||
| Q2 24 | -38.9% | 32.8% |
| Q1 26 | — | $0.81 | ||
| Q4 25 | $-0.07 | $0.88 | ||
| Q3 25 | $-0.38 | $0.84 | ||
| Q2 25 | $-0.57 | $0.81 | ||
| Q1 25 | $-0.70 | $0.74 | ||
| Q4 24 | $-1.21 | $0.87 | ||
| Q3 24 | $-0.59 | $0.65 | ||
| Q2 24 | $-0.62 | $0.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $75.6M | $174.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $23.5M | $510.6M |
| Total Assets | $357.2M | $5.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $174.9M | ||
| Q4 25 | $75.6M | $138.4M | ||
| Q3 25 | $70.6M | $208.7M | ||
| Q2 25 | $54.6M | $146.2M | ||
| Q1 25 | $69.2M | $128.1M | ||
| Q4 24 | $90.3M | $119.9M | ||
| Q3 24 | — | $121.6M | ||
| Q2 24 | — | $214.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $510.6M | ||
| Q4 25 | $23.5M | $503.0M | ||
| Q3 25 | $16.4M | $490.7M | ||
| Q2 25 | $22.8M | $469.3M | ||
| Q1 25 | $38.5M | $467.3M | ||
| Q4 24 | $53.1M | $454.7M | ||
| Q3 24 | $32.7M | $452.4M | ||
| Q2 24 | $45.0M | $430.5M |
| Q1 26 | — | $5.6B | ||
| Q4 25 | $357.2M | $5.5B | ||
| Q3 25 | $338.9M | $5.5B | ||
| Q2 25 | $329.7M | $5.4B | ||
| Q1 25 | $333.4M | $5.3B | ||
| Q4 24 | $346.8M | $5.3B | ||
| Q3 24 | $282.7M | $5.3B | ||
| Q2 24 | $285.1M | $5.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $-162.0K | — |
| Free Cash FlowOCF − Capex | $-2.0M | — |
| FCF MarginFCF / Revenue | -3.1% | — |
| Capex IntensityCapex / Revenue | 2.8% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-56.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-162.0K | $76.7M | ||
| Q3 25 | $-11.3M | $18.2M | ||
| Q2 25 | $-18.8M | $19.0M | ||
| Q1 25 | $-20.7M | $31.7M | ||
| Q4 24 | $-20.7M | $63.2M | ||
| Q3 24 | $-12.5M | $17.2M | ||
| Q2 24 | $-14.2M | $8.7M |
| Q1 26 | — | — | ||
| Q4 25 | $-2.0M | $70.2M | ||
| Q3 25 | $-13.1M | $16.5M | ||
| Q2 25 | $-20.4M | $16.7M | ||
| Q1 25 | $-21.5M | $30.6M | ||
| Q4 24 | $-21.3M | $55.2M | ||
| Q3 24 | $-13.9M | $15.7M | ||
| Q2 24 | $-15.0M | $7.0M |
| Q1 26 | — | — | ||
| Q4 25 | -3.1% | 120.3% | ||
| Q3 25 | -24.4% | 28.9% | ||
| Q2 25 | -39.7% | 29.8% | ||
| Q1 25 | -51.9% | 56.5% | ||
| Q4 24 | -47.8% | 89.1% | ||
| Q3 24 | -34.6% | 30.6% | ||
| Q2 24 | -33.9% | 12.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.8% | 11.1% | ||
| Q3 25 | 3.4% | 2.9% | ||
| Q2 25 | 3.2% | 4.1% | ||
| Q1 25 | 1.8% | 2.1% | ||
| Q4 24 | 1.2% | 12.8% | ||
| Q3 24 | 3.7% | 2.9% | ||
| Q2 24 | 1.8% | 3.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.13× | ||
| Q3 25 | — | 1.04× | ||
| Q2 25 | — | 1.12× | ||
| Q1 25 | — | 2.03× | ||
| Q4 24 | — | 3.42× | ||
| Q3 24 | — | 1.25× | ||
| Q2 24 | — | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESTA
Segment breakdown not available.
IBCP
| Net Interest Income | $46.9M | 80% |
| Noninterest Income | $12.0M | 20% |
