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Side-by-side financial comparison of Grindr Inc. (GRND) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Grindr Inc. is the larger business by last-quarter revenue ($126.0M vs $100.0M, roughly 1.3× Latham Group, Inc.). Grindr Inc. runs the higher net margin — 16.1% vs -7.0%, a 23.1% gap on every dollar of revenue. On growth, Grindr Inc. posted the faster year-over-year revenue change (29.0% vs 14.5%). Grindr Inc. produced more free cash flow last quarter ($24.5M vs $14.1M). Over the past eight quarters, Grindr Inc.'s revenue compounded faster (29.3% CAGR vs -4.9%).
Grindr is a location-based social networking and online hookup application for LGBTQ people.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
GRND vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $126.0M | $100.0M |
| Net Profit | $20.3M | $-7.0M |
| Gross Margin | — | 28.0% |
| Operating Margin | 24.9% | -10.7% |
| Net Margin | 16.1% | -7.0% |
| Revenue YoY | 29.0% | 14.5% |
| Net Profit YoY | 116.4% | 76.0% |
| EPS (diluted) | $0.10 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $115.8M | $161.9M | ||
| Q2 25 | $104.2M | $172.6M | ||
| Q1 25 | $93.9M | $111.4M | ||
| Q4 24 | $97.6M | $87.3M | ||
| Q3 24 | $89.3M | $150.5M | ||
| Q2 24 | $82.3M | $160.1M | ||
| Q1 24 | $75.3M | $110.6M |
| Q4 25 | $20.3M | $-7.0M | ||
| Q3 25 | $30.8M | $8.1M | ||
| Q2 25 | $16.6M | $16.0M | ||
| Q1 25 | $27.0M | $-6.0M | ||
| Q4 24 | $-123.9M | $-29.2M | ||
| Q3 24 | $24.7M | $5.9M | ||
| Q2 24 | $-22.4M | $13.3M | ||
| Q1 24 | $-9.4M | $-7.9M |
| Q4 25 | — | 28.0% | ||
| Q3 25 | — | 35.4% | ||
| Q2 25 | — | 37.1% | ||
| Q1 25 | — | 29.5% | ||
| Q4 24 | — | 24.6% | ||
| Q3 24 | — | 32.4% | ||
| Q2 24 | — | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | 24.9% | -10.7% | ||
| Q3 25 | 39.1% | 13.3% | ||
| Q2 25 | 23.4% | 14.3% | ||
| Q1 25 | 27.0% | -4.4% | ||
| Q4 24 | 20.9% | -14.9% | ||
| Q3 24 | 31.8% | 8.9% | ||
| Q2 24 | 29.8% | 12.5% | ||
| Q1 24 | 25.6% | -1.9% |
| Q4 25 | 16.1% | -7.0% | ||
| Q3 25 | 26.6% | 5.0% | ||
| Q2 25 | 16.0% | 9.3% | ||
| Q1 25 | 28.8% | -5.4% | ||
| Q4 24 | -126.9% | -33.4% | ||
| Q3 24 | 27.6% | 3.9% | ||
| Q2 24 | -27.2% | 8.3% | ||
| Q1 24 | -12.5% | -7.1% |
| Q4 25 | $0.10 | $-0.06 | ||
| Q3 25 | $0.16 | $0.07 | ||
| Q2 25 | $0.08 | $0.13 | ||
| Q1 25 | $0.09 | $-0.05 | ||
| Q4 24 | $-0.65 | $-0.24 | ||
| Q3 24 | $0.09 | $0.05 | ||
| Q2 24 | $-0.13 | $0.11 | ||
| Q1 24 | $-0.05 | $-0.07 |
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 | — |
| Total DebtLower is stronger | $395.9M | $279.8M |
| Stockholders' EquityBook value | $47.0M | $405.9M |
| Total Assets | $531.0M | $823.2M |
| Debt / EquityLower = less leverage | 8.42× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.0M | — | ||
| Q3 25 | $6.3M | — | ||
| Q2 25 | $120.8M | — | ||
| Q1 25 | $255.9M | — | ||
| Q4 24 | $59.2M | — | ||
| Q3 24 | $39.1M | — | ||
| Q2 24 | $16.3M | — | ||
| Q1 24 | $21.5M | — |
| Q4 25 | $395.9M | $279.8M | ||
| Q3 25 | $279.9M | $281.1M | ||
| Q2 25 | $283.5M | $281.5M | ||
| Q1 25 | $287.0M | $306.9M | ||
| Q4 24 | $290.6M | $281.5M | ||
| Q3 24 | $294.1M | $282.8M | ||
| Q2 24 | $297.7M | $282.4M | ||
| Q1 24 | $315.0M | $282.8M |
| Q4 25 | $47.0M | $405.9M | ||
| Q3 25 | $71.0M | $408.4M | ||
| Q2 25 | $187.7M | $398.4M | ||
| Q1 25 | $319.8M | $381.1M | ||
| Q4 24 | $-131.6M | $387.2M | ||
| Q3 24 | $-13.4M | $416.6M | ||
| Q2 24 | $-41.7M | $408.1M | ||
| Q1 24 | $-22.0M | $391.8M |
| Q4 25 | $531.0M | $823.2M | ||
| Q3 25 | $439.2M | $844.4M | ||
| Q2 25 | $547.6M | $822.1M | ||
| Q1 25 | $679.4M | $824.6M | ||
| Q4 24 | $479.1M | $794.2M | ||
| Q3 24 | $456.3M | $853.4M | ||
| Q2 24 | $435.0M | $830.0M | ||
| Q1 24 | $437.7M | $808.6M |
| Q4 25 | 8.42× | 0.69× | ||
| Q3 25 | 3.94× | 0.69× | ||
| Q2 25 | 1.51× | 0.71× | ||
| Q1 25 | 0.90× | 0.81× | ||
| Q4 24 | — | 0.73× | ||
| Q3 24 | — | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $24.5M | $14.1M |
| FCF MarginFCF / Revenue | 19.5% | 14.1% |
| Capex IntensityCapex / Revenue | 0.2% | 9.2% |
| Cash ConversionOCF / Net Profit | 1.22× | — |
| TTM Free Cash FlowTrailing 4 quarters | $140.8M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.8M | $23.3M | ||
| Q3 25 | $55.4M | $51.0M | ||
| Q2 25 | $37.5M | $36.0M | ||
| Q1 25 | $23.8M | $-46.9M | ||
| Q4 24 | $29.5M | $6.2M | ||
| Q3 24 | $29.1M | $37.2M | ||
| Q2 24 | $15.8M | $52.4M | ||
| Q1 24 | $20.4M | $-34.5M |
| Q4 25 | $24.5M | $14.1M | ||
| Q3 25 | $55.2M | $45.2M | ||
| Q2 25 | $37.3M | $29.1M | ||
| Q1 25 | $23.7M | $-50.3M | ||
| Q4 24 | $29.3M | $-98.0K | ||
| Q3 24 | $28.8M | $33.2M | ||
| Q2 24 | $15.7M | $47.9M | ||
| Q1 24 | $20.3M | $-39.9M |
| Q4 25 | 19.5% | 14.1% | ||
| Q3 25 | 47.7% | 27.9% | ||
| Q2 25 | 35.8% | 16.8% | ||
| Q1 25 | 25.2% | -45.2% | ||
| Q4 24 | 30.0% | -0.1% | ||
| Q3 24 | 32.2% | 22.1% | ||
| Q2 24 | 19.0% | 29.9% | ||
| Q1 24 | 26.9% | -36.0% |
| Q4 25 | 0.2% | 9.2% | ||
| Q3 25 | 0.2% | 3.6% | ||
| Q2 25 | 0.2% | 4.0% | ||
| Q1 25 | 0.1% | 3.1% | ||
| Q4 24 | 0.3% | 7.2% | ||
| Q3 24 | 0.4% | 2.7% | ||
| Q2 24 | 0.2% | 2.8% | ||
| Q1 24 | 0.3% | 4.8% |
| Q4 25 | 1.22× | — | ||
| Q3 25 | 1.80× | 6.29× | ||
| Q2 25 | 2.25× | 2.25× | ||
| Q1 25 | 0.88× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.18× | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| Q1 24 | — | — |
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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
