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Side-by-side financial comparison of Flywire Corp (FLYW) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
Flywire Corp is the larger business by last-quarter revenue ($157.5M vs $140.7M, roughly 1.1× Purple Innovation, Inc.). Flywire Corp runs the higher net margin — 0.0% vs -2.3%, a 2.3% gap on every dollar of revenue. On growth, Flywire Corp posted the faster year-over-year revenue change (34.0% vs 9.1%). Flywire Corp produced more free cash flow last quarter ($4.5M vs $-7.8M). Over the past eight quarters, Flywire Corp's revenue compounded faster (17.5% CAGR vs 8.3%).
Flywire Corp is a global payment and receivables solutions provider serving core verticals including education, healthcare, travel, and B2B commerce. It offers secure cross-border payment processing, currency conversion, and workflow tools for organizations and payers worldwide.
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
FLYW vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $157.5M | $140.7M |
| Net Profit | $33.0K | $-3.2M |
| Gross Margin | — | 41.9% |
| Operating Margin | -0.6% | -1.6% |
| Net Margin | 0.0% | -2.3% |
| Revenue YoY | 34.0% | 9.1% |
| Net Profit YoY | 100.2% | 62.1% |
| EPS (diluted) | $0.01 | $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 | $157.5M | $140.7M | ||
| Q3 25 | $200.1M | $118.8M | ||
| Q2 25 | $131.9M | $105.1M | ||
| Q1 25 | $133.5M | $104.2M | ||
| Q4 24 | $117.5M | $129.0M | ||
| Q3 24 | $156.8M | $118.6M | ||
| Q2 24 | $103.7M | $120.3M | ||
| Q1 24 | $114.1M | $120.0M |
| Q4 25 | $33.0K | $-3.2M | ||
| Q3 25 | $29.6M | $-11.7M | ||
| Q2 25 | $-12.0M | $-17.3M | ||
| Q1 25 | $-4.2M | $-19.1M | ||
| Q4 24 | $-15.9M | $-8.5M | ||
| Q3 24 | $38.9M | $-39.2M | ||
| Q2 24 | $-13.9M | $27.0K | ||
| Q1 24 | $-6.2M | $-50.2M |
| Q4 25 | — | 41.9% | ||
| Q3 25 | — | 42.8% | ||
| Q2 25 | — | 35.9% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 42.9% | ||
| Q3 24 | — | 29.7% | ||
| Q2 24 | — | 40.7% | ||
| Q1 24 | — | 34.8% |
| Q4 25 | -0.6% | -1.6% | ||
| Q3 25 | 16.1% | -10.2% | ||
| Q2 25 | -6.8% | -13.5% | ||
| Q1 25 | -8.2% | -13.9% | ||
| Q4 24 | -4.9% | -6.0% | ||
| Q3 24 | 12.9% | -39.5% | ||
| Q2 24 | -15.2% | -12.1% | ||
| Q1 24 | -5.2% | -19.3% |
| Q4 25 | 0.0% | -2.3% | ||
| Q3 25 | 14.8% | -9.9% | ||
| Q2 25 | -9.1% | -16.5% | ||
| Q1 25 | -3.1% | -18.4% | ||
| Q4 24 | -13.5% | -6.6% | ||
| Q3 24 | 24.8% | -33.1% | ||
| Q2 24 | -13.4% | 0.0% | ||
| Q1 24 | -5.4% | -41.8% |
| Q4 25 | $0.01 | $0.03 | ||
| Q3 25 | $0.23 | $0.11 | ||
| Q2 25 | $-0.10 | $0.16 | ||
| Q1 25 | $-0.03 | $0.18 | ||
| Q4 24 | $-0.12 | $0.08 | ||
| Q3 24 | $0.30 | $0.36 | ||
| Q2 24 | $-0.11 | $0.00 | ||
| Q1 24 | $-0.05 | $0.47 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $355.0M | $24.3M |
| Total DebtLower is stronger | — | $126.7M |
| Stockholders' EquityBook value | $835.2M | $-29.7M |
| Total Assets | $1.3B | $296.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $355.0M | $24.3M | ||
| Q3 25 | $377.3M | $32.4M | ||
| Q2 25 | $274.2M | $34.2M | ||
| Q1 25 | $255.3M | $21.6M | ||
| Q4 24 | $611.1M | $29.0M | ||
| Q3 24 | $681.1M | $23.4M | ||
| Q2 24 | $571.0M | $23.4M | ||
| Q1 24 | $619.0M | $34.5M |
| Q4 25 | — | $126.7M | ||
| Q3 25 | $15.0M | — | ||
| Q2 25 | $60.0M | — | ||
| Q1 25 | $60.0M | — | ||
| Q4 24 | $0 | $70.7M | ||
| Q3 24 | — | $50.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $835.2M | $-29.7M | ||
| Q3 25 | $829.1M | $-26.9M | ||
| Q2 25 | $792.4M | $-15.6M | ||
| Q1 25 | $784.3M | $1.3M | ||
| Q4 24 | $814.8M | $20.2M | ||
| Q3 24 | $843.2M | $28.0M | ||
| Q2 24 | $802.6M | $66.4M | ||
| Q1 24 | $-797.0M | $65.5M |
| Q4 25 | $1.3B | $296.3M | ||
| Q3 25 | $1.3B | $302.1M | ||
| Q2 25 | $1.1B | $303.8M | ||
| Q1 25 | $1.1B | $293.8M | ||
| Q4 24 | $1.1B | $307.8M | ||
| Q3 24 | $1.2B | $309.3M | ||
| Q2 24 | $998.7M | $362.1M | ||
| Q1 24 | $998.7M | $382.1M |
| Q4 25 | — | — | ||
| Q3 25 | 0.02× | — | ||
| Q2 25 | 0.08× | — | ||
| Q1 25 | 0.08× | — | ||
| Q4 24 | 0.00× | 3.50× | ||
| Q3 24 | — | 1.82× | ||
| 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 | $4.9M | $-5.8M |
| Free Cash FlowOCF − Capex | $4.5M | $-7.8M |
| FCF MarginFCF / Revenue | 2.9% | -5.5% |
| Capex IntensityCapex / Revenue | 0.2% | 1.4% |
| Cash ConversionOCF / Net Profit | 148.06× | — |
| TTM Free Cash FlowTrailing 4 quarters | $98.8M | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.9M | $-5.8M | ||
| Q3 25 | $150.1M | $-968.0K | ||
| Q2 25 | $24.1M | $-4.0M | ||
| Q1 25 | $-78.9M | $-23.1M | ||
| Q4 24 | $-28.6M | $6.8M | ||
| Q3 24 | $184.6M | $1.1M | ||
| Q2 24 | $-19.3M | $-8.9M | ||
| Q1 24 | $-38.1M | $-16.8M |
| Q4 25 | $4.5M | $-7.8M | ||
| Q3 25 | $149.9M | $-1.8M | ||
| Q2 25 | $23.5M | $-7.0M | ||
| Q1 25 | $-79.1M | $-25.3M | ||
| Q4 24 | $-28.7M | $5.7M | ||
| Q3 24 | $184.4M | $101.0K | ||
| Q2 24 | $-19.7M | $-11.0M | ||
| Q1 24 | $-38.3M | $-19.9M |
| Q4 25 | 2.9% | -5.5% | ||
| Q3 25 | 74.9% | -1.5% | ||
| Q2 25 | 17.8% | -6.6% | ||
| Q1 25 | -59.3% | -24.3% | ||
| Q4 24 | -24.4% | 4.4% | ||
| Q3 24 | 117.6% | 0.1% | ||
| Q2 24 | -19.0% | -9.2% | ||
| Q1 24 | -33.6% | -16.5% |
| Q4 25 | 0.2% | 1.4% | ||
| Q3 25 | 0.1% | 0.7% | ||
| Q2 25 | 0.4% | 2.8% | ||
| Q1 25 | 0.1% | 2.2% | ||
| Q4 24 | 0.1% | 0.8% | ||
| Q3 24 | 0.1% | 0.9% | ||
| Q2 24 | 0.3% | 1.7% | ||
| Q1 24 | 0.2% | 2.5% |
| Q4 25 | 148.06× | — | ||
| Q3 25 | 5.07× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 4.75× | — | ||
| Q2 24 | — | -330.22× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FLYW
| Transactions | $126.4M | 80% |
| Platform And Other Revenues | $31.1M | 20% |
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
