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Side-by-side financial comparison of IHS Holding Ltd (IHS) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
IHS Holding Ltd is the larger business by last-quarter revenue ($254.0M vs $140.7M, roughly 1.8× Purple Innovation, Inc.). On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs 0.1%). IHS Holding Ltd produced more free cash flow last quarter ($178.6M vs $-7.8M). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% CAGR vs -22.0%).
IHS Towers is one of the largest independent owners, operators and developers of shared communications infrastructure in the world, with operations across Africa and Latin America. It is the fifth-largest independent multinational tower company in the world.
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.”
IHS vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $254.0M | $140.7M |
| Net Profit | — | $-3.2M |
| Gross Margin | 83.6% | 41.9% |
| Operating Margin | — | -1.6% |
| Net Margin | — | -2.3% |
| Revenue YoY | 0.1% | 9.1% |
| Net Profit YoY | — | 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 | $254.0M | $140.7M | ||
| Q3 25 | $455.1M | $118.8M | ||
| Q2 25 | $433.3M | $105.1M | ||
| Q1 25 | $439.6M | $104.2M | ||
| Q4 24 | $253.8M | $129.0M | ||
| Q3 24 | $420.3M | $118.6M | ||
| Q2 24 | $435.4M | $120.3M | ||
| Q1 24 | $417.7M | $120.0M |
| Q4 25 | — | $-3.2M | ||
| Q3 25 | $147.4M | $-11.7M | ||
| Q2 25 | $32.3M | $-17.3M | ||
| Q1 25 | $30.7M | $-19.1M | ||
| Q4 24 | — | $-8.5M | ||
| Q3 24 | $-205.7M | $-39.2M | ||
| Q2 24 | $-124.3M | $27.0K | ||
| Q1 24 | $-1.6B | $-50.2M |
| Q4 25 | 83.6% | 41.9% | ||
| Q3 25 | 47.5% | 42.8% | ||
| Q2 25 | 51.3% | 35.9% | ||
| Q1 25 | 51.4% | 39.4% | ||
| Q4 24 | 72.1% | 42.9% | ||
| Q3 24 | 52.0% | 29.7% | ||
| Q2 24 | 52.5% | 40.7% | ||
| Q1 24 | 39.1% | 34.8% |
| Q4 25 | — | -1.6% | ||
| Q3 25 | 35.1% | -10.2% | ||
| Q2 25 | 33.8% | -13.5% | ||
| Q1 25 | 37.1% | -13.9% | ||
| Q4 24 | — | -6.0% | ||
| Q3 24 | 29.9% | -39.5% | ||
| Q2 24 | 34.0% | -12.1% | ||
| Q1 24 | -1.7% | -19.3% |
| Q4 25 | — | -2.3% | ||
| Q3 25 | 32.4% | -9.9% | ||
| Q2 25 | 7.5% | -16.5% | ||
| Q1 25 | 7.0% | -18.4% | ||
| Q4 24 | — | -6.6% | ||
| Q3 24 | -48.9% | -33.1% | ||
| Q2 24 | -28.5% | 0.0% | ||
| Q1 24 | -372.8% | -41.8% |
| Q4 25 | — | $0.03 | ||
| Q3 25 | $0.44 | $0.11 | ||
| Q2 25 | $0.10 | $0.16 | ||
| Q1 25 | $0.10 | $0.18 | ||
| Q4 24 | — | $0.08 | ||
| Q3 24 | $-0.61 | $0.36 | ||
| Q2 24 | $-0.36 | $0.00 | ||
| Q1 24 | $-4.67 | $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 | $825.7M | $24.3M |
| Total DebtLower is stronger | $3.1B | $126.7M |
| Stockholders' EquityBook value | $-89.8M | $-29.7M |
| Total Assets | $4.5B | $296.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $825.7M | $24.3M | ||
| Q3 25 | $647.6M | $32.4M | ||
| Q2 25 | $531.8M | $34.2M | ||
| Q1 25 | $629.0M | $21.6M | ||
| Q4 24 | $578.0M | $29.0M | ||
| Q3 24 | $397.5M | $23.4M | ||
| Q2 24 | $445.7M | $23.4M | ||
| Q1 24 | $333.2M | $34.5M |
| Q4 25 | $3.1B | $126.7M | ||
| Q3 25 | $3.3B | — | ||
| Q2 25 | $3.2B | — | ||
| Q1 25 | $3.4B | — | ||
| Q4 24 | $3.3B | $70.7M | ||
| Q3 24 | $3.5B | $50.8M | ||
| Q2 24 | $3.6B | — | ||
| Q1 24 | $3.5B | — |
| Q4 25 | $-89.8M | $-29.7M | ||
| Q3 25 | $38.1M | $-26.9M | ||
| Q2 25 | $-98.4M | $-15.6M | ||
| Q1 25 | $-184.4M | $1.3M | ||
| Q4 24 | $-314.4M | $20.2M | ||
| Q3 24 | $-284.7M | $28.0M | ||
| Q2 24 | $-308.3M | $66.4M | ||
| Q1 24 | $-163.2M | $65.5M |
| Q4 25 | $4.5B | $296.3M | ||
| Q3 25 | $4.7B | $302.1M | ||
| Q2 25 | $4.5B | $303.8M | ||
| Q1 25 | $4.4B | $293.8M | ||
| Q4 24 | $4.2B | $307.8M | ||
| Q3 24 | $4.6B | $309.3M | ||
| Q2 24 | $4.5B | $362.1M | ||
| Q1 24 | $4.6B | $382.1M |
| Q4 25 | — | — | ||
| Q3 25 | 85.85× | — | ||
| 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 | $246.9M | $-5.8M |
| Free Cash FlowOCF − Capex | $178.6M | $-7.8M |
| FCF MarginFCF / Revenue | 70.3% | -5.5% |
| Capex IntensityCapex / Revenue | 26.9% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $718.7M | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $246.9M | $-5.8M | ||
| Q3 25 | $251.3M | $-968.0K | ||
| Q2 25 | $237.7M | $-4.0M | ||
| Q1 25 | $200.3M | $-23.1M | ||
| Q4 24 | $344.4M | $6.8M | ||
| Q3 24 | $174.5M | $1.1M | ||
| Q2 24 | $134.7M | $-8.9M | ||
| Q1 24 | $75.8M | $-16.8M |
| Q4 25 | $178.6M | $-7.8M | ||
| Q3 25 | $189.2M | $-1.8M | ||
| Q2 25 | $197.7M | $-7.0M | ||
| Q1 25 | $153.2M | $-25.3M | ||
| Q4 24 | $282.9M | $5.7M | ||
| Q3 24 | $122.3M | $101.0K | ||
| Q2 24 | $74.2M | $-11.0M | ||
| Q1 24 | $14.8M | $-19.9M |
| Q4 25 | 70.3% | -5.5% | ||
| Q3 25 | 41.6% | -1.5% | ||
| Q2 25 | 45.6% | -6.6% | ||
| Q1 25 | 34.8% | -24.3% | ||
| Q4 24 | 111.5% | 4.4% | ||
| Q3 24 | 29.1% | 0.1% | ||
| Q2 24 | 17.0% | -9.2% | ||
| Q1 24 | 3.5% | -16.5% |
| Q4 25 | 26.9% | 1.4% | ||
| Q3 25 | 13.6% | 0.7% | ||
| Q2 25 | 9.2% | 2.8% | ||
| Q1 25 | 10.7% | 2.2% | ||
| Q4 24 | 24.2% | 0.8% | ||
| Q3 24 | 12.4% | 0.9% | ||
| Q2 24 | 13.9% | 1.7% | ||
| Q1 24 | 14.6% | 2.5% |
| Q4 25 | — | — | ||
| Q3 25 | 1.70× | — | ||
| Q2 25 | 7.36× | — | ||
| Q1 25 | 6.52× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -330.22× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
IHS
Segment breakdown not available.
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
