vs

Side-by-side financial comparison of Opus Genetics, Inc. (IRD) and PIONEER POWER SOLUTIONS, INC. (PPSI). Click either name above to swap in a different company.

PIONEER POWER SOLUTIONS, INC. is the larger business by last-quarter revenue ($5.6M vs $3.9M, roughly 1.5× Opus Genetics, Inc.). On growth, Opus Genetics, Inc. posted the faster year-over-year revenue change (-10.2% vs -42.3%). Over the past eight quarters, Opus Genetics, Inc.'s revenue compounded faster (50.3% CAGR vs 30.3%).

Opus Genetics, Inc. is a clinical-stage biotechnology company specializing in the development of targeted gene therapies for inherited retinal diseases. It focuses on addressing unmet medical needs for patients living with rare, vision-threatening ocular conditions, with operations centered on advancing accessible therapeutic candidates for global rare disease patient populations.

Caterpillar Energy Solutions GmbH, is a mechanical engineering company based in Mannheim, Baden-Württemberg, Germany. It was known as MWM GmbH Motoren-Werke Mannheim (MWM) until November 2013. In 2009 the company was the third-largest producer by revenue of gas and diesel engines.

IRD vs PPSI — Head-to-Head

Bigger by revenue
PPSI
PPSI
1.5× larger
PPSI
$5.6M
$3.9M
IRD
Growing faster (revenue YoY)
IRD
IRD
+32.1% gap
IRD
-10.2%
-42.3%
PPSI
Faster 2-yr revenue CAGR
IRD
IRD
Annualised
IRD
50.3%
30.3%
PPSI

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IRD
IRD
PPSI
PPSI
Revenue
$3.9M
$5.6M
Net Profit
$-1.4M
Gross Margin
23.5%
Operating Margin
-19.4%
Net Margin
-24.7%
Revenue YoY
-10.2%
-42.3%
Net Profit YoY
53.0%
-103.8%
EPS (diluted)
$-0.12

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.

Revenue
IRD
IRD
PPSI
PPSI
Q4 25
$3.9M
$5.6M
Q3 25
$3.1M
$6.9M
Q2 25
$2.9M
$8.4M
Q1 25
$4.4M
$6.7M
Q4 24
$4.3M
$9.8M
Q3 24
$3.9M
$6.4M
Q2 24
$1.1M
$3.4M
Q1 24
$1.7M
$3.3M
Net Profit
IRD
IRD
PPSI
PPSI
Q4 25
$-1.4M
Q3 25
$-17.5M
$-2.4M
Q2 25
$-7.4M
$-1.3M
Q1 25
$-8.2M
$-929.0K
Q4 24
$36.3M
Q3 24
$-7.5M
$-1.1M
Q2 24
$-7.8M
$-2.3M
Q1 24
$-7.1M
$-1.0M
Gross Margin
IRD
IRD
PPSI
PPSI
Q4 25
23.5%
Q3 25
9.3%
Q2 25
15.7%
Q1 25
2.2%
Q4 24
28.9%
Q3 24
23.7%
Q2 24
18.9%
Q1 24
16.1%
Operating Margin
IRD
IRD
PPSI
PPSI
Q4 25
-19.4%
Q3 25
-269.9%
-21.0%
Q2 25
-309.0%
-20.4%
Q1 25
-227.2%
-34.8%
Q4 24
-11.0%
Q3 24
-207.1%
-11.1%
Q2 24
-748.9%
-51.1%
Q1 24
-450.5%
-52.1%
Net Margin
IRD
IRD
PPSI
PPSI
Q4 25
-24.7%
Q3 25
-566.9%
-34.1%
Q2 25
-257.5%
-15.9%
Q1 25
-187.5%
-13.8%
Q4 24
372.1%
Q3 24
-194.6%
-17.5%
Q2 24
-698.3%
-67.2%
Q1 24
-415.3%
-31.2%
EPS (diluted)
IRD
IRD
PPSI
PPSI
Q4 25
$-0.12
Q3 25
$-0.25
$-0.21
Q2 25
$-0.12
$-0.12
Q1 25
$-0.24
$-0.09
Q4 24
$3.31
Q3 24
$-0.29
$-0.10
Q2 24
$-0.30
$-0.21
Q1 24
$-0.29
$-0.10

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
IRD
IRD
PPSI
PPSI
Cash + ST InvestmentsLiquidity on hand
$45.1M
Total DebtLower is stronger
Stockholders' EquityBook value
$15.3M
$29.3M
Total Assets
$50.2M
$35.5M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IRD
IRD
PPSI
PPSI
Q4 25
$45.1M
Q3 25
$30.8M
Q2 25
$32.4M
$18.0M
Q1 25
$41.8M
$25.8M
Q4 24
$30.3M
$41.6M
Q3 24
$36.6M
$3.1M
Q2 24
$41.4M
$6.5M
Q1 24
$47.2M
$6.2M
Stockholders' Equity
IRD
IRD
PPSI
PPSI
Q4 25
$15.3M
$29.3M
Q3 25
$6.0M
$30.7M
Q2 25
$17.5M
$33.0M
Q1 25
$5.1M
$34.5M
Q4 24
$6.7M
$35.4M
Q3 24
$34.3M
$14.7M
Q2 24
$40.6M
$15.8M
Q1 24
$46.1M
$18.1M
Total Assets
IRD
IRD
PPSI
PPSI
Q4 25
$50.2M
$35.5M
Q3 25
$36.1M
$37.6M
Q2 25
$38.7M
$39.1M
Q1 25
$48.2M
$47.5M
Q4 24
$36.9M
$66.0M
Q3 24
$40.4M
$40.1M
Q2 24
$44.8M
$38.0M
Q1 24
$51.8M
$39.3M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
IRD
IRD
PPSI
PPSI
Operating Cash FlowLast quarter
$-35.3M
$-1.0M
Free Cash FlowOCF − Capex
$-2.2M
FCF MarginFCF / Revenue
-38.8%
Capex IntensityCapex / Revenue
20.3%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters
$-8.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IRD
IRD
PPSI
PPSI
Q4 25
$-35.3M
$-1.0M
Q3 25
$-6.2M
$-817.0K
Q2 25
$-10.3M
$-5.5M
Q1 25
$-9.0M
$1.5M
Q4 24
$-25.6M
$-2.1M
Q3 24
$-5.1M
$-2.7M
Q2 24
$-7.3M
$571.0K
Q1 24
$-5.7M
$-1.9M
Free Cash Flow
IRD
IRD
PPSI
PPSI
Q4 25
$-2.2M
Q3 25
$-1.6M
Q2 25
$-5.6M
Q1 25
$907.0K
Q4 24
$-4.6M
Q3 24
$-3.4M
Q2 24
$170.0K
Q1 24
$-2.2M
FCF Margin
IRD
IRD
PPSI
PPSI
Q4 25
-38.8%
Q3 25
-23.4%
Q2 25
-67.0%
Q1 25
13.5%
Q4 24
-46.9%
Q3 24
-53.0%
Q2 24
5.0%
Q1 24
-65.2%
Capex Intensity
IRD
IRD
PPSI
PPSI
Q4 25
20.3%
Q3 25
11.5%
Q2 25
1.7%
Q1 25
8.8%
Q4 24
25.4%
Q3 24
10.3%
Q2 24
11.8%
Q1 24
6.4%
Cash Conversion
IRD
IRD
PPSI
PPSI
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
-0.06×
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

IRD
IRD

Segment breakdown not available.

PPSI
PPSI

Total Revenue$4.0M70%
Other$1.7M30%

Related Comparisons