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Side-by-side financial comparison of Hamilton Lane INC (HLNE) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
Hamilton Lane INC is the larger business by last-quarter revenue ($198.6M vs $140.7M, roughly 1.4× Purple Innovation, Inc.). Hamilton Lane INC runs the higher net margin — 29.4% vs -2.3%, a 31.7% gap on every dollar of revenue. On growth, Hamilton Lane INC posted the faster year-over-year revenue change (18.0% vs 9.1%). Hamilton Lane INC produced more free cash flow last quarter ($72.4M vs $-7.8M). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% CAGR vs 6.0%).
Hamilton Lane Incorporated is an American alternative investment management and advisory company headquartered in Conshohocken, Pennsylvania. The company provides private markets investments to its clients.
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.”
HLNE vs PRPL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $198.6M | $140.7M |
| Net Profit | $58.4M | $-3.2M |
| Gross Margin | — | 41.9% |
| Operating Margin | 60.5% | -1.6% |
| Net Margin | 29.4% | -2.3% |
| Revenue YoY | 18.0% | 9.1% |
| Net Profit YoY | 10.2% | 62.1% |
| EPS (diluted) | — | $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 | $198.6M | $140.7M | ||
| Q3 25 | $190.9M | $118.8M | ||
| Q2 25 | $176.0M | $105.1M | ||
| Q1 25 | $198.0M | $104.2M | ||
| Q4 24 | $168.3M | $129.0M | ||
| Q3 24 | $150.0M | $118.6M | ||
| Q2 24 | $196.7M | $120.3M | ||
| Q1 24 | $176.7M | $120.0M |
| Q4 25 | $58.4M | $-3.2M | ||
| Q3 25 | $70.9M | $-11.7M | ||
| Q2 25 | $53.7M | $-17.3M | ||
| Q1 25 | $50.5M | $-19.1M | ||
| Q4 24 | $53.0M | $-8.5M | ||
| Q3 24 | $55.0M | $-39.2M | ||
| Q2 24 | $59.0M | $27.0K | ||
| Q1 24 | $48.4M | $-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 | 60.5% | -1.6% | ||
| Q3 25 | 61.6% | -10.2% | ||
| Q2 25 | 54.2% | -13.5% | ||
| Q1 25 | 44.6% | -13.9% | ||
| Q4 24 | 53.6% | -6.0% | ||
| Q3 24 | 51.4% | -39.5% | ||
| Q2 24 | 54.3% | -12.1% | ||
| Q1 24 | 55.0% | -19.3% |
| Q4 25 | 29.4% | -2.3% | ||
| Q3 25 | 37.1% | -9.9% | ||
| Q2 25 | 30.5% | -16.5% | ||
| Q1 25 | 25.5% | -18.4% | ||
| Q4 24 | 31.5% | -6.6% | ||
| Q3 24 | 36.7% | -33.1% | ||
| Q2 24 | 30.0% | 0.0% | ||
| Q1 24 | 27.4% | -41.8% |
| Q4 25 | — | $0.03 | ||
| Q3 25 | — | $0.11 | ||
| Q2 25 | — | $0.16 | ||
| Q1 25 | — | $0.18 | ||
| Q4 24 | — | $0.08 | ||
| Q3 24 | — | $0.36 | ||
| Q2 24 | — | $0.00 | ||
| Q1 24 | — | $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 | — | $24.3M |
| Total DebtLower is stronger | $279.5M | $126.7M |
| Stockholders' EquityBook value | $877.4M | $-29.7M |
| Total Assets | $2.2B | $296.3M |
| Debt / EquityLower = less leverage | 0.32× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $24.3M | ||
| Q3 25 | — | $32.4M | ||
| Q2 25 | — | $34.2M | ||
| Q1 25 | — | $21.6M | ||
| Q4 24 | — | $29.0M | ||
| Q3 24 | — | $23.4M | ||
| Q2 24 | — | $23.4M | ||
| Q1 24 | — | $34.5M |
| Q4 25 | $279.5M | $126.7M | ||
| Q3 25 | $285.6M | — | ||
| Q2 25 | $288.6M | — | ||
| Q1 25 | $290.3M | — | ||
| Q4 24 | $292.0M | $70.7M | ||
| Q3 24 | $195.0M | $50.8M | ||
| Q2 24 | $195.6M | — | ||
| Q1 24 | $196.2M | — |
| Q4 25 | $877.4M | $-29.7M | ||
| Q3 25 | $825.8M | $-26.9M | ||
| Q2 25 | $758.8M | $-15.6M | ||
| Q1 25 | $717.3M | $1.3M | ||
| Q4 24 | $649.3M | $20.2M | ||
| Q3 24 | $606.6M | $28.0M | ||
| Q2 24 | $566.4M | $66.4M | ||
| Q1 24 | $525.2M | $65.5M |
| Q4 25 | $2.2B | $296.3M | ||
| Q3 25 | $2.0B | $302.1M | ||
| Q2 25 | $1.8B | $303.8M | ||
| Q1 25 | $1.7B | $293.8M | ||
| Q4 24 | $1.6B | $307.8M | ||
| Q3 24 | $1.4B | $309.3M | ||
| Q2 24 | $1.4B | $362.1M | ||
| Q1 24 | $1.3B | $382.1M |
| Q4 25 | 0.32× | — | ||
| Q3 25 | 0.35× | — | ||
| Q2 25 | 0.38× | — | ||
| Q1 25 | 0.40× | — | ||
| Q4 24 | 0.45× | 3.50× | ||
| Q3 24 | 0.32× | 1.82× | ||
| Q2 24 | 0.35× | — | ||
| Q1 24 | 0.37× | — |
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 | $74.1M | $-5.8M |
| Free Cash FlowOCF − Capex | $72.4M | $-7.8M |
| FCF MarginFCF / Revenue | 36.5% | -5.5% |
| Capex IntensityCapex / Revenue | 0.8% | 1.4% |
| Cash ConversionOCF / Net Profit | 1.27× | — |
| TTM Free Cash FlowTrailing 4 quarters | $606.5M | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $74.1M | $-5.8M | ||
| Q3 25 | $118.9M | $-968.0K | ||
| Q2 25 | $128.9M | $-4.0M | ||
| Q1 25 | $300.8M | $-23.1M | ||
| Q4 24 | $64.4M | $6.8M | ||
| Q3 24 | $117.4M | $1.1M | ||
| Q2 24 | $79.7M | $-8.9M | ||
| Q1 24 | $120.9M | $-16.8M |
| Q4 25 | $72.4M | $-7.8M | ||
| Q3 25 | $117.8M | $-1.8M | ||
| Q2 25 | $127.6M | $-7.0M | ||
| Q1 25 | $288.7M | $-25.3M | ||
| Q4 24 | $58.8M | $5.7M | ||
| Q3 24 | $115.8M | $101.0K | ||
| Q2 24 | $78.2M | $-11.0M | ||
| Q1 24 | $109.8M | $-19.9M |
| Q4 25 | 36.5% | -5.5% | ||
| Q3 25 | 61.7% | -1.5% | ||
| Q2 25 | 72.5% | -6.6% | ||
| Q1 25 | 145.8% | -24.3% | ||
| Q4 24 | 34.9% | 4.4% | ||
| Q3 24 | 77.2% | 0.1% | ||
| Q2 24 | 39.8% | -9.2% | ||
| Q1 24 | 62.1% | -16.5% |
| Q4 25 | 0.8% | 1.4% | ||
| Q3 25 | 0.6% | 0.7% | ||
| Q2 25 | 0.8% | 2.8% | ||
| Q1 25 | 6.1% | 2.2% | ||
| Q4 24 | 3.3% | 0.8% | ||
| Q3 24 | 1.0% | 0.9% | ||
| Q2 24 | 0.8% | 1.7% | ||
| Q1 24 | 6.3% | 2.5% |
| Q4 25 | 1.27× | — | ||
| Q3 25 | 1.68× | — | ||
| Q2 25 | 2.40× | — | ||
| Q1 25 | 5.96× | — | ||
| Q4 24 | 1.22× | — | ||
| Q3 24 | 2.14× | — | ||
| Q2 24 | 1.35× | -330.22× | ||
| Q1 24 | 2.50× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HLNE
| Management And Advisory Fee Revenue Specialized Funds | $98.5M | 50% |
| Incentive Fee Revenue Specialized Funds | $39.4M | 20% |
| Management And Advisory Fee Revenue Customized Separate Accounts | $36.1M | 18% |
| Management And Advisory Fee Revenue Reporting And Other | $9.3M | 5% |
| Incentive Fee Revenue Customized Separate Accounts | $5.9M | 3% |
| Management And Advisory Fee Revenue Advisory | $4.8M | 2% |
| Management And Advisory Fee Revenue Fund Reimbursement Revenue | $3.9M | 2% |
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
