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Side-by-side financial comparison of ESTABLISHMENT LABS HOLDINGS INC. (ESTA) and Velocity Financial, Inc. (VEL). 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 $51.6M, roughly 1.3× Velocity Financial, Inc.). On growth, ESTABLISHMENT LABS HOLDINGS INC. posted the faster year-over-year revenue change (45.2% vs 32.8%). Velocity Financial, Inc. produced more free cash flow last quarter ($17.9M vs $-2.0M). Over the past eight quarters, Velocity Financial, Inc.'s revenue compounded faster (32.3% CAGR vs 31.9%).
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.
Velocity Financial, Inc. is a U.S.-headquartered real estate finance company that offers specialized mortgage loan solutions primarily for residential investment properties. It partners with independent mortgage brokers nationwide, providing real estate investors with short-term bridge loans and long-term rental property financing options tailored to their operational needs.
ESTA vs VEL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $64.6M | $51.6M |
| Net Profit | — | $34.8M |
| Gross Margin | 70.5% | — |
| Operating Margin | -6.1% | 97.0% |
| Net Margin | — | 67.3% |
| Revenue YoY | 45.2% | 32.8% |
| Net Profit YoY | — | 67.0% |
| EPS (diluted) | $-0.07 | $0.90 |
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 | $64.6M | $51.6M | ||
| Q3 25 | $53.8M | $49.1M | ||
| Q2 25 | $51.3M | $47.6M | ||
| Q1 25 | $41.4M | $37.5M | ||
| Q4 24 | $44.5M | $38.9M | ||
| Q3 24 | $40.2M | $35.1M | ||
| Q2 24 | $44.1M | $32.4M | ||
| Q1 24 | $37.2M | $29.5M |
| Q4 25 | — | $34.8M | ||
| Q3 25 | $-11.1M | $25.4M | ||
| Q2 25 | $-16.6M | $26.0M | ||
| Q1 25 | $-20.7M | $18.9M | ||
| Q4 24 | — | $20.8M | ||
| Q3 24 | $-16.7M | $15.8M | ||
| Q2 24 | $-17.2M | $14.8M | ||
| Q1 24 | $-16.2M | $17.3M |
| 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 24 | 65.6% | — |
| Q4 25 | -6.1% | 97.0% | ||
| Q3 25 | -7.5% | 72.1% | ||
| Q2 25 | -27.5% | 71.3% | ||
| Q1 25 | -41.0% | 71.7% | ||
| Q4 24 | -41.9% | 82.5% | ||
| Q3 24 | -32.7% | 60.6% | ||
| Q2 24 | -21.2% | 61.3% | ||
| Q1 24 | -23.8% | 78.8% |
| Q4 25 | — | 67.3% | ||
| Q3 25 | -20.7% | 51.7% | ||
| Q2 25 | -32.3% | 54.6% | ||
| Q1 25 | -50.1% | 50.4% | ||
| Q4 24 | — | 53.5% | ||
| Q3 24 | -41.5% | 45.1% | ||
| Q2 24 | -38.9% | 45.6% | ||
| Q1 24 | -43.6% | 58.5% |
| Q4 25 | $-0.07 | $0.90 | ||
| Q3 25 | $-0.38 | $0.65 | ||
| Q2 25 | $-0.57 | $0.69 | ||
| Q1 25 | $-0.70 | $0.51 | ||
| Q4 24 | $-1.21 | $0.56 | ||
| Q3 24 | $-0.59 | $0.44 | ||
| Q2 24 | $-0.62 | $0.42 | ||
| Q1 24 | $-0.58 | $0.49 |
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 | $92.1M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $23.5M | $672.5M |
| Total Assets | $357.2M | $7.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $75.6M | $92.1M | ||
| Q3 25 | $70.6M | $99.0M | ||
| Q2 25 | $54.6M | $79.6M | ||
| Q1 25 | $69.2M | $51.7M | ||
| Q4 24 | $90.3M | $49.9M | ||
| Q3 24 | — | $44.1M | ||
| Q2 24 | — | $47.4M | ||
| Q1 24 | — | $34.8M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $0 | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $23.5M | $672.5M | ||
| Q3 25 | $16.4M | $634.3M | ||
| Q2 25 | $22.8M | $597.9M | ||
| Q1 25 | $38.5M | $563.2M | ||
| Q4 24 | $53.1M | $516.9M | ||
| Q3 24 | $32.7M | $484.6M | ||
| Q2 24 | $45.0M | $471.3M | ||
| Q1 24 | $56.9M | $452.9M |
| Q4 25 | $357.2M | $7.4B | ||
| Q3 25 | $338.9M | $7.0B | ||
| Q2 25 | $329.7M | $6.5B | ||
| Q1 25 | $333.4M | $6.0B | ||
| Q4 24 | $346.8M | $5.5B | ||
| Q3 24 | $282.7M | $5.2B | ||
| Q2 24 | $285.1M | $4.9B | ||
| Q1 24 | $301.8M | $4.6B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | — | — | ||
| 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 | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-162.0K | $18.2M |
| Free Cash FlowOCF − Capex | $-2.0M | $17.9M |
| FCF MarginFCF / Revenue | -3.1% | 34.6% |
| Capex IntensityCapex / Revenue | 2.8% | 0.5% |
| Cash ConversionOCF / Net Profit | — | 0.52× |
| TTM Free Cash FlowTrailing 4 quarters | $-56.9M | $40.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-162.0K | $18.2M | ||
| Q3 25 | $-11.3M | $11.5M | ||
| Q2 25 | $-18.8M | $7.7M | ||
| Q1 25 | $-20.7M | $3.5M | ||
| Q4 24 | $-20.7M | $37.8M | ||
| Q3 24 | $-12.5M | $-17.6M | ||
| Q2 24 | $-14.2M | $11.5M | ||
| Q1 24 | $-11.2M | $10.6M |
| Q4 25 | $-2.0M | $17.9M | ||
| Q3 25 | $-13.1M | $11.4M | ||
| Q2 25 | $-20.4M | $7.6M | ||
| Q1 25 | $-21.5M | $3.5M | ||
| Q4 24 | $-21.3M | $37.5M | ||
| Q3 24 | $-13.9M | $-17.6M | ||
| Q2 24 | $-15.0M | $11.4M | ||
| Q1 24 | $-14.5M | $10.5M |
| Q4 25 | -3.1% | 34.6% | ||
| Q3 25 | -24.4% | 23.2% | ||
| Q2 25 | -39.7% | 15.9% | ||
| Q1 25 | -51.9% | 9.2% | ||
| Q4 24 | -47.8% | 96.4% | ||
| Q3 24 | -34.6% | -50.3% | ||
| Q2 24 | -33.9% | 35.1% | ||
| Q1 24 | -38.9% | 35.8% |
| Q4 25 | 2.8% | 0.5% | ||
| Q3 25 | 3.4% | 0.1% | ||
| Q2 25 | 3.2% | 0.2% | ||
| Q1 25 | 1.8% | 0.2% | ||
| Q4 24 | 1.2% | 0.7% | ||
| Q3 24 | 3.7% | 0.2% | ||
| Q2 24 | 1.8% | 0.3% | ||
| Q1 24 | 8.9% | 0.1% |
| Q4 25 | — | 0.52× | ||
| Q3 25 | — | 0.45× | ||
| Q2 25 | — | 0.29× | ||
| Q1 25 | — | 0.19× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | -1.11× | ||
| Q2 24 | — | 0.78× | ||
| Q1 24 | — | 0.61× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ESTA
Segment breakdown not available.
VEL
| Related Party | $19.3M | 37% |
| Nonrelated Party | $16.9M | 33% |
| Other | $15.4M | 30% |
