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Side-by-side financial comparison of First Foundation Inc. (FFWM) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
Smart Sand, Inc. is the larger business by last-quarter revenue ($86.0M vs $48.4M, roughly 1.8× First Foundation Inc.). Smart Sand, Inc. runs the higher net margin — 1.4% vs -97.9%, a 99.2% gap on every dollar of revenue. On growth, First Foundation Inc. posted the faster year-over-year revenue change (421.7% vs -5.8%). Smart Sand, Inc. produced more free cash flow last quarter ($20.4M vs $-35.2M). Over the past eight quarters, Smart Sand, Inc.'s revenue compounded faster (1.8% CAGR vs -2.7%).
John B. Lacson Colleges Foundation (Bacolod), Inc. is a private maritime college in Bacolod, Negros Occidental, Philippines.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
FFWM vs SND — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $48.4M | $86.0M |
| Net Profit | $-8.0M | $1.2M |
| Gross Margin | — | 13.0% |
| Operating Margin | -97.5% | -3.1% |
| Net Margin | -97.9% | 1.4% |
| Revenue YoY | 421.7% | -5.8% |
| Net Profit YoY | 43.0% | -68.5% |
| EPS (diluted) | $-0.09 | $0.03 |
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 | $48.4M | $86.0M | ||
| Q3 25 | $63.6M | $92.8M | ||
| Q2 25 | $51.4M | $85.8M | ||
| Q1 25 | $71.4M | $65.6M | ||
| Q4 24 | $9.3M | $91.4M | ||
| Q3 24 | $9.2M | $63.2M | ||
| Q2 24 | $57.5M | $73.8M | ||
| Q1 24 | $51.1M | $83.1M |
| Q4 25 | $-8.0M | $1.2M | ||
| Q3 25 | $-146.3M | $3.0M | ||
| Q2 25 | $-7.7M | $21.4M | ||
| Q1 25 | $6.9M | $-24.2M | ||
| Q4 24 | $-14.1M | $3.7M | ||
| Q3 24 | $-82.2M | $-98.0K | ||
| Q2 24 | $3.1M | $-430.0K | ||
| Q1 24 | $793.0K | $-216.0K |
| Q4 25 | — | 13.0% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 17.7% | ||
| Q1 24 | — | 14.2% |
| Q4 25 | -97.5% | -3.1% | ||
| Q3 25 | -92.7% | 5.8% | ||
| Q2 25 | -21.1% | -0.1% | ||
| Q1 25 | 8.8% | -10.8% | ||
| Q4 24 | -247.7% | 3.9% | ||
| Q3 24 | -1276.7% | -7.8% | ||
| Q2 24 | 4.6% | 4.8% | ||
| Q1 24 | -0.2% | 0.9% |
| Q4 25 | -97.9% | 1.4% | ||
| Q3 25 | -230.1% | 3.2% | ||
| Q2 25 | -15.0% | 24.9% | ||
| Q1 25 | 9.7% | -37.0% | ||
| Q4 24 | -152.2% | 4.1% | ||
| Q3 24 | -896.9% | -0.2% | ||
| Q2 24 | 5.4% | -0.6% | ||
| Q1 24 | 1.6% | -0.3% |
| Q4 25 | $-0.09 | $0.03 | ||
| Q3 25 | $-1.78 | $0.08 | ||
| Q2 25 | $-0.09 | $0.54 | ||
| Q1 25 | $0.08 | $-0.62 | ||
| Q4 24 | $-0.24 | $0.10 | ||
| Q3 24 | $-1.23 | $0.00 | ||
| Q2 24 | $0.05 | $-0.01 | ||
| Q1 24 | $0.01 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.6B | $22.6M |
| Total DebtLower is stronger | — | $15.0M |
| Stockholders' EquityBook value | $912.6M | $239.7M |
| Total Assets | $11.9B | $340.0M |
| Debt / EquityLower = less leverage | — | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.6B | $22.6M | ||
| Q3 25 | $1.7B | $5.1M | ||
| Q2 25 | $1.1B | $4.3M | ||
| Q1 25 | $1.0B | $5.1M | ||
| Q4 24 | $1.0B | $1.6M | ||
| Q3 24 | $1.1B | $7.2M | ||
| Q2 24 | $1.4B | $6.3M | ||
| Q1 24 | $1.6B | $4.6M |
| Q4 25 | — | $15.0M | ||
| Q3 25 | — | $14.3M | ||
| Q2 25 | — | $23.5M | ||
| Q1 25 | — | $13.7M | ||
| Q4 24 | — | $14.7M | ||
| Q3 24 | — | $15.7M | ||
| Q2 24 | — | $17.1M | ||
| Q1 24 | — | $25.5M |
| Q4 25 | $912.6M | $239.7M | ||
| Q3 25 | $917.9M | $239.9M | ||
| Q2 25 | $1.1B | $240.5M | ||
| Q1 25 | $1.1B | $219.9M | ||
| Q4 24 | $1.1B | $243.8M | ||
| Q3 24 | $1.1B | $243.6M | ||
| Q2 24 | $933.2M | $242.9M | ||
| Q1 24 | $928.7M | $242.5M |
| Q4 25 | $11.9B | $340.0M | ||
| Q3 25 | $11.9B | $343.1M | ||
| Q2 25 | $11.6B | $345.8M | ||
| Q1 25 | $12.6B | $326.9M | ||
| Q4 24 | $12.6B | $341.5M | ||
| Q3 24 | $13.4B | $335.8M | ||
| Q2 24 | $13.7B | $341.8M | ||
| Q1 24 | $13.6B | $349.3M |
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.11× |
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 | $-31.9M | $22.4M |
| Free Cash FlowOCF − Capex | $-35.2M | $20.4M |
| FCF MarginFCF / Revenue | -72.8% | 23.7% |
| Capex IntensityCapex / Revenue | 6.9% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | $-45.9M | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-31.9M | $22.4M | ||
| Q3 25 | $9.2M | $18.2M | ||
| Q2 25 | $-16.3M | $-5.1M | ||
| Q1 25 | $-552.0K | $8.7M | ||
| Q4 24 | $-8.7M | $1.0M | ||
| Q3 24 | $14.2M | $5.8M | ||
| Q2 24 | $-9.1M | $14.9M | ||
| Q1 24 | $7.2M | $-3.9M |
| Q4 25 | $-35.2M | $20.4M | ||
| Q3 25 | $8.6M | $14.8M | ||
| Q2 25 | $-16.7M | $-7.8M | ||
| Q1 25 | $-2.5M | $5.2M | ||
| Q4 24 | $-11.4M | $-840.0K | ||
| Q3 24 | $13.4M | $3.7M | ||
| Q2 24 | $-9.4M | $13.5M | ||
| Q1 24 | $5.9M | $-5.5M |
| Q4 25 | -72.8% | 23.7% | ||
| Q3 25 | 13.5% | 15.9% | ||
| Q2 25 | -32.4% | -9.1% | ||
| Q1 25 | -3.5% | 7.9% | ||
| Q4 24 | -123.5% | -0.9% | ||
| Q3 24 | 146.2% | 5.8% | ||
| Q2 24 | -16.3% | 18.3% | ||
| Q1 24 | 11.6% | -6.6% |
| Q4 25 | 6.9% | 2.3% | ||
| Q3 25 | 1.0% | 3.6% | ||
| Q2 25 | 0.8% | 3.1% | ||
| Q1 25 | 2.8% | 5.4% | ||
| Q4 24 | 29.4% | 2.1% | ||
| Q3 24 | 9.0% | 3.4% | ||
| Q2 24 | 0.4% | 1.8% | ||
| Q1 24 | 2.5% | 2.0% |
| Q4 25 | — | 18.99× | ||
| Q3 25 | — | 6.05× | ||
| Q2 25 | — | -0.24× | ||
| Q1 25 | -0.08× | — | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | — | ||
| Q2 24 | -2.96× | — | ||
| Q1 24 | 9.09× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FFWM
Segment breakdown not available.
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
