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Side-by-side financial comparison of Grindr Inc. (GRND) and H2O AMERICA (HTO). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $126.0M, roughly 1.6× Grindr Inc.). Grindr Inc. runs the higher net margin — 16.1% vs 8.1%, a 7.9% gap on every dollar of revenue. On growth, Grindr Inc. posted the faster year-over-year revenue change (29.0% vs 1.5%). Over the past eight quarters, Grindr Inc.'s revenue compounded faster (29.3% CAGR vs 15.3%).
Grindr is a location-based social networking and online hookup application for LGBTQ people.
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
GRND vs HTO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $126.0M | $199.4M |
| Net Profit | $20.3M | $16.2M |
| Gross Margin | — | — |
| Operating Margin | 24.9% | 16.6% |
| Net Margin | 16.1% | 8.1% |
| Revenue YoY | 29.0% | 1.5% |
| Net Profit YoY | 116.4% | -29.2% |
| EPS (diluted) | $0.10 | $0.45 |
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 | $126.0M | $199.4M | ||
| Q3 25 | $115.8M | $243.5M | ||
| Q2 25 | $104.2M | $197.8M | ||
| Q1 25 | $93.9M | $164.9M | ||
| Q4 24 | $97.6M | $196.5M | ||
| Q3 24 | $89.3M | $216.7M | ||
| Q2 24 | $82.3M | $173.1M | ||
| Q1 24 | $75.3M | $150.0M |
| Q4 25 | $20.3M | $16.2M | ||
| Q3 25 | $30.8M | $45.1M | ||
| Q2 25 | $16.6M | $24.7M | ||
| Q1 25 | $27.0M | $16.6M | ||
| Q4 24 | $-123.9M | $22.9M | ||
| Q3 24 | $24.7M | $38.7M | ||
| Q2 24 | $-22.4M | $20.7M | ||
| Q1 24 | $-9.4M | $11.7M |
| Q4 25 | 24.9% | 16.6% | ||
| Q3 25 | 39.1% | 26.5% | ||
| Q2 25 | 23.4% | 22.2% | ||
| Q1 25 | 27.0% | 21.8% | ||
| Q4 24 | 20.9% | 22.2% | ||
| Q3 24 | 31.8% | 26.9% | ||
| Q2 24 | 29.8% | 23.4% | ||
| Q1 24 | 25.6% | 18.6% |
| Q4 25 | 16.1% | 8.1% | ||
| Q3 25 | 26.6% | 18.5% | ||
| Q2 25 | 16.0% | 12.5% | ||
| Q1 25 | 28.8% | 10.0% | ||
| Q4 24 | -126.9% | 11.7% | ||
| Q3 24 | 27.6% | 17.8% | ||
| Q2 24 | -27.2% | 12.0% | ||
| Q1 24 | -12.5% | 7.8% |
| Q4 25 | $0.10 | $0.45 | ||
| Q3 25 | $0.16 | $1.27 | ||
| Q2 25 | $0.08 | $0.71 | ||
| Q1 25 | $0.09 | $0.49 | ||
| Q4 24 | $-0.65 | $0.70 | ||
| Q3 24 | $0.09 | $1.17 | ||
| Q2 24 | $-0.13 | $0.64 | ||
| Q1 24 | $-0.05 | $0.36 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $87.0M | $20.7M |
| Total DebtLower is stronger | $395.9M | $1.9B |
| Stockholders' EquityBook value | $47.0M | $1.5B |
| Total Assets | $531.0M | $5.1B |
| Debt / EquityLower = less leverage | 8.42× | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.0M | $20.7M | ||
| Q3 25 | $6.3M | $11.3M | ||
| Q2 25 | $120.8M | $19.8M | ||
| Q1 25 | $255.9M | $23.7M | ||
| Q4 24 | $59.2M | $11.1M | ||
| Q3 24 | $39.1M | $4.0M | ||
| Q2 24 | $16.3M | $22.8M | ||
| Q1 24 | $21.5M | $4.5M |
| Q4 25 | $395.9M | $1.9B | ||
| Q3 25 | $279.9M | — | ||
| Q2 25 | $283.5M | — | ||
| Q1 25 | $287.0M | — | ||
| Q4 24 | $290.6M | $1.7B | ||
| Q3 24 | $294.1M | — | ||
| Q2 24 | $297.7M | — | ||
| Q1 24 | $315.0M | — |
| Q4 25 | $47.0M | $1.5B | ||
| Q3 25 | $71.0M | $1.5B | ||
| Q2 25 | $187.7M | $1.5B | ||
| Q1 25 | $319.8M | $1.4B | ||
| Q4 24 | $-131.6M | $1.4B | ||
| Q3 24 | $-13.4M | $1.3B | ||
| Q2 24 | $-41.7M | $1.3B | ||
| Q1 24 | $-22.0M | $1.2B |
| Q4 25 | $531.0M | $5.1B | ||
| Q3 25 | $439.2M | $5.0B | ||
| Q2 25 | $547.6M | $4.8B | ||
| Q1 25 | $679.4M | $4.7B | ||
| Q4 24 | $479.1M | $4.7B | ||
| Q3 24 | $456.3M | $4.6B | ||
| Q2 24 | $435.0M | $4.4B | ||
| Q1 24 | $437.7M | $4.4B |
| Q4 25 | 8.42× | 1.23× | ||
| Q3 25 | 3.94× | — | ||
| Q2 25 | 1.51× | — | ||
| Q1 25 | 0.90× | — | ||
| Q4 24 | — | 1.26× | ||
| 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 | $24.8M | $63.5M |
| Free Cash FlowOCF − Capex | $24.5M | — |
| FCF MarginFCF / Revenue | 19.5% | — |
| Capex IntensityCapex / Revenue | 0.2% | — |
| Cash ConversionOCF / Net Profit | 1.22× | 3.92× |
| TTM Free Cash FlowTrailing 4 quarters | $140.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.8M | $63.5M | ||
| Q3 25 | $55.4M | $77.3M | ||
| Q2 25 | $37.5M | $60.8M | ||
| Q1 25 | $23.8M | $43.2M | ||
| Q4 24 | $29.5M | $41.5M | ||
| Q3 24 | $29.1M | $53.5M | ||
| Q2 24 | $15.8M | $49.3M | ||
| Q1 24 | $20.4M | $51.2M |
| Q4 25 | $24.5M | — | ||
| Q3 25 | $55.2M | — | ||
| Q2 25 | $37.3M | — | ||
| Q1 25 | $23.7M | — | ||
| Q4 24 | $29.3M | — | ||
| Q3 24 | $28.8M | — | ||
| Q2 24 | $15.7M | — | ||
| Q1 24 | $20.3M | — |
| Q4 25 | 19.5% | — | ||
| Q3 25 | 47.7% | — | ||
| Q2 25 | 35.8% | — | ||
| Q1 25 | 25.2% | — | ||
| Q4 24 | 30.0% | — | ||
| Q3 24 | 32.2% | — | ||
| Q2 24 | 19.0% | — | ||
| Q1 24 | 26.9% | — |
| Q4 25 | 0.2% | — | ||
| Q3 25 | 0.2% | — | ||
| Q2 25 | 0.2% | — | ||
| Q1 25 | 0.1% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 0.4% | — | ||
| Q2 24 | 0.2% | — | ||
| Q1 24 | 0.3% | — |
| Q4 25 | 1.22× | 3.92× | ||
| Q3 25 | 1.80× | 1.71× | ||
| Q2 25 | 2.25× | 2.47× | ||
| Q1 25 | 0.88× | 2.61× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | 1.18× | 1.39× | ||
| Q2 24 | — | 2.38× | ||
| Q1 24 | — | 4.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GRND
| License And Service | $102.9M | 82% |
| Advertising | $23.1M | 18% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
