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Side-by-side financial comparison of HA Sustainable Infrastructure Capital, Inc. (HASI) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
Purple Innovation, Inc. is the larger business by last-quarter revenue ($140.7M vs $114.8M, roughly 1.2× HA Sustainable Infrastructure Capital, Inc.). Purple Innovation, Inc. runs the higher net margin — -2.3% vs -46.8%, a 44.5% gap on every dollar of revenue. On growth, HA Sustainable Infrastructure Capital, Inc. posted the faster year-over-year revenue change (13.3% vs 9.1%). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% CAGR vs 4.2%).
HA Sustainable Infrastructure Capital, Inc. (HASI) is a specialized investment firm focused on sustainable infrastructure assets covering renewable energy, energy efficiency, sustainable real estate and low-carbon utility segments. It primarily operates in North American markets, providing long-term capital to eligible sustainable projects and delivering stable risk-adjusted returns to investors through recurring cash flows from operational underlying assets.
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.”
HASI vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $114.8M | $140.7M |
| Net Profit | $-53.8M | $-3.2M |
| Gross Margin | — | 41.9% |
| Operating Margin | -57.4% | -1.6% |
| Net Margin | -46.8% | -2.3% |
| Revenue YoY | 13.3% | 9.1% |
| Net Profit YoY | -176.7% | 62.1% |
| EPS (diluted) | $-0.38 | $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 | $114.8M | $140.7M | ||
| Q3 25 | $103.1M | $118.8M | ||
| Q2 25 | $85.7M | $105.1M | ||
| Q1 25 | $96.9M | $104.2M | ||
| Q4 24 | $101.3M | $129.0M | ||
| Q3 24 | $82.0M | $118.6M | ||
| Q2 24 | $94.5M | $120.3M | ||
| Q1 24 | $105.8M | $120.0M |
| Q4 25 | $-53.8M | $-3.2M | ||
| Q3 25 | $83.3M | $-11.7M | ||
| Q2 25 | $98.4M | $-17.3M | ||
| Q1 25 | $56.6M | $-19.1M | ||
| Q4 24 | $70.1M | $-8.5M | ||
| Q3 24 | $-19.6M | $-39.2M | ||
| Q2 24 | $26.5M | $27.0K | ||
| Q1 24 | $123.0M | $-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 | -57.4% | -1.6% | ||
| Q3 25 | — | -10.2% | ||
| Q2 25 | — | -13.5% | ||
| Q1 25 | 84.7% | -13.9% | ||
| Q4 24 | 90.9% | -6.0% | ||
| Q3 24 | -32.1% | -39.5% | ||
| Q2 24 | 39.5% | -12.1% | ||
| Q1 24 | — | -19.3% |
| Q4 25 | -46.8% | -2.3% | ||
| Q3 25 | 80.8% | -9.9% | ||
| Q2 25 | 114.9% | -16.5% | ||
| Q1 25 | 58.4% | -18.4% | ||
| Q4 24 | 69.2% | -6.6% | ||
| Q3 24 | -23.9% | -33.1% | ||
| Q2 24 | 28.1% | 0.0% | ||
| Q1 24 | 116.3% | -41.8% |
| Q4 25 | $-0.38 | $0.03 | ||
| Q3 25 | $0.61 | $0.11 | ||
| Q2 25 | $0.74 | $0.16 | ||
| Q1 25 | $0.44 | $0.18 | ||
| Q4 24 | $0.58 | $0.08 | ||
| Q3 24 | $-0.17 | $0.36 | ||
| Q2 24 | $0.23 | $0.00 | ||
| Q1 24 | $0.98 | $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 | $110.2M | $24.3M |
| Total DebtLower is stronger | — | $126.7M |
| Stockholders' EquityBook value | $2.7B | $-29.7M |
| Total Assets | $8.2B | $296.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $110.2M | $24.3M | ||
| Q3 25 | $301.8M | $32.4M | ||
| Q2 25 | $86.5M | $34.2M | ||
| Q1 25 | $67.4M | $21.6M | ||
| Q4 24 | $129.8M | $29.0M | ||
| Q3 24 | $44.1M | $23.4M | ||
| Q2 24 | $145.7M | $23.4M | ||
| Q1 24 | $61.4M | $34.5M |
| Q4 25 | — | $126.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $70.7M | ||
| Q3 24 | — | $50.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $2.7B | $-29.7M | ||
| Q3 25 | $2.7B | $-26.9M | ||
| Q2 25 | $2.6B | $-15.6M | ||
| Q1 25 | $2.5B | $1.3M | ||
| Q4 24 | $2.4B | $20.2M | ||
| Q3 24 | $2.3B | $28.0M | ||
| Q2 24 | $2.3B | $66.4M | ||
| Q1 24 | $2.3B | $65.5M |
| Q4 25 | $8.2B | $296.3M | ||
| Q3 25 | $8.2B | $302.1M | ||
| Q2 25 | $7.6B | $303.8M | ||
| Q1 25 | $7.5B | $293.8M | ||
| Q4 24 | $7.1B | $307.8M | ||
| Q3 24 | $6.7B | $309.3M | ||
| Q2 24 | $6.7B | $362.1M | ||
| Q1 24 | $6.7B | $382.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 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 | $167.3M | $-5.8M |
| Free Cash FlowOCF − Capex | — | $-7.8M |
| FCF MarginFCF / Revenue | — | -5.5% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $167.3M | $-5.8M | ||
| Q3 25 | $-121.8M | $-968.0K | ||
| Q2 25 | $79.6M | $-4.0M | ||
| Q1 25 | $-37.1M | $-23.1M | ||
| Q4 24 | $5.9M | $6.8M | ||
| Q3 24 | $21.9M | $1.1M | ||
| Q2 24 | $-24.8M | $-8.9M | ||
| Q1 24 | $20.9M | $-16.8M |
| Q4 25 | — | $-7.8M | ||
| Q3 25 | — | $-1.8M | ||
| Q2 25 | — | $-7.0M | ||
| Q1 25 | — | $-25.3M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $101.0K | ||
| Q2 24 | — | $-11.0M | ||
| Q1 24 | — | $-19.9M |
| Q4 25 | — | -5.5% | ||
| Q3 25 | — | -1.5% | ||
| Q2 25 | — | -6.6% | ||
| Q1 25 | — | -24.3% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | -9.2% | ||
| Q1 24 | — | -16.5% |
| Q4 25 | — | 1.4% | ||
| Q3 25 | — | 0.7% | ||
| Q2 25 | — | 2.8% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | — | 2.5% |
| Q4 25 | — | — | ||
| Q3 25 | -1.46× | — | ||
| Q2 25 | 0.81× | — | ||
| Q1 25 | -0.66× | — | ||
| Q4 24 | 0.08× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -0.94× | -330.22× | ||
| Q1 24 | 0.17× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HASI
Segment breakdown not available.
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
