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Side-by-side financial comparison of James River Group Holdings, Inc. (JRVR) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
James River Group Holdings, Inc. is the larger business by last-quarter revenue ($151.4M vs $86.0M, roughly 1.8× Smart Sand, Inc.). On growth, Smart Sand, Inc. posted the faster year-over-year revenue change (-5.8% vs -12.1%). Over the past eight quarters, Smart Sand, Inc.'s revenue compounded faster (1.8% CAGR vs -10.3%).
James River Corporation was an American pulp and paper company based in Richmond, Virginia, once the largest paper manufacturer in the world.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
JRVR vs SND — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $151.4M | $86.0M |
| Net Profit | — | $1.2M |
| Gross Margin | — | 13.0% |
| Operating Margin | — | -3.1% |
| Net Margin | — | 1.4% |
| Revenue YoY | -12.1% | -5.8% |
| Net Profit YoY | — | -68.5% |
| 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.
| Q1 26 | $151.4M | — | ||
| Q4 25 | $167.7M | $86.0M | ||
| Q3 25 | $172.7M | $92.8M | ||
| Q2 25 | $174.8M | $85.8M | ||
| Q1 25 | $172.3M | $65.6M | ||
| Q4 24 | $126.7M | $91.4M | ||
| Q3 24 | $191.5M | $63.2M | ||
| Q2 24 | $188.3M | $73.8M |
| Q1 26 | — | — | ||
| Q4 25 | $32.1M | $1.2M | ||
| Q3 25 | $1.0M | $3.0M | ||
| Q2 25 | $4.8M | $21.4M | ||
| Q1 25 | $9.6M | $-24.2M | ||
| Q4 24 | $-64.8M | $3.7M | ||
| Q3 24 | $-39.4M | $-98.0K | ||
| Q2 24 | $7.6M | $-430.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | 13.0% | ||
| Q3 25 | — | 16.1% | ||
| Q2 25 | — | 10.4% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 14.7% | ||
| Q3 24 | — | 10.3% | ||
| Q2 24 | — | 17.7% |
| Q1 26 | — | — | ||
| Q4 25 | 14.6% | -3.1% | ||
| Q3 25 | 1.5% | 5.8% | ||
| Q2 25 | 4.2% | -0.1% | ||
| Q1 25 | 9.3% | -10.8% | ||
| Q4 24 | -57.0% | 3.9% | ||
| Q3 24 | -27.1% | -7.8% | ||
| Q2 24 | 10.7% | 4.8% |
| Q1 26 | — | — | ||
| Q4 25 | 19.1% | 1.4% | ||
| Q3 25 | 0.6% | 3.2% | ||
| Q2 25 | 2.7% | 24.9% | ||
| Q1 25 | 5.6% | -37.0% | ||
| Q4 24 | -51.1% | 4.1% | ||
| Q3 24 | -20.6% | -0.2% | ||
| Q2 24 | 4.0% | -0.6% |
| Q1 26 | — | — | ||
| Q4 25 | $0.59 | $0.03 | ||
| Q3 25 | $-0.02 | $0.08 | ||
| Q2 25 | $0.06 | $0.54 | ||
| Q1 25 | $0.16 | $-0.62 | ||
| Q4 24 | $-2.44 | $0.10 | ||
| Q3 24 | $-1.10 | $0.00 | ||
| Q2 24 | $0.13 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $228.2M | $22.6M |
| Total DebtLower is stronger | — | $15.0M |
| Stockholders' EquityBook value | $518.4M | $239.7M |
| Total Assets | $4.8B | $340.0M |
| Debt / EquityLower = less leverage | — | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $228.2M | — | ||
| Q4 25 | $260.9M | $22.6M | ||
| Q3 25 | $238.8M | $5.1M | ||
| Q2 25 | $220.0M | $4.3M | ||
| Q1 25 | $279.4M | $5.1M | ||
| Q4 24 | $362.3M | $1.6M | ||
| Q3 24 | $359.8M | $7.2M | ||
| Q2 24 | $672.5M | $6.3M |
| Q1 26 | — | — | ||
| Q4 25 | — | $15.0M | ||
| Q3 25 | — | $14.3M | ||
| Q2 25 | — | $23.5M | ||
| Q1 25 | — | $13.7M | ||
| Q4 24 | — | $14.7M | ||
| Q3 24 | — | $15.7M | ||
| Q2 24 | — | $17.1M |
| Q1 26 | $518.4M | — | ||
| Q4 25 | $538.2M | $239.7M | ||
| Q3 25 | $503.6M | $239.9M | ||
| Q2 25 | $492.6M | $240.5M | ||
| Q1 25 | $484.5M | $219.9M | ||
| Q4 24 | $460.9M | $243.8M | ||
| Q3 24 | $530.3M | $243.6M | ||
| Q2 24 | $541.8M | $242.9M |
| Q1 26 | $4.8B | — | ||
| Q4 25 | $4.9B | $340.0M | ||
| Q3 25 | $5.0B | $343.1M | ||
| Q2 25 | $5.0B | $345.8M | ||
| Q1 25 | $4.9B | $326.9M | ||
| Q4 24 | $5.0B | $341.5M | ||
| Q3 24 | $5.0B | $335.8M | ||
| Q2 24 | $4.7B | $341.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.07× |
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 | — | $22.4M |
| Free Cash FlowOCF − Capex | — | $20.4M |
| FCF MarginFCF / Revenue | — | 23.7% |
| Capex IntensityCapex / Revenue | — | 2.3% |
| Cash ConversionOCF / Net Profit | — | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | — | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-18.8M | $22.4M | ||
| Q3 25 | $34.3M | $18.2M | ||
| Q2 25 | $25.2M | $-5.1M | ||
| Q1 25 | $-51.5M | $8.7M | ||
| Q4 24 | $-247.1M | $1.0M | ||
| Q3 24 | $-269.9M | $5.8M | ||
| Q2 24 | $-8.7M | $14.9M |
| Q1 26 | — | — | ||
| Q4 25 | $-23.6M | $20.4M | ||
| Q3 25 | $33.7M | $14.8M | ||
| Q2 25 | $24.7M | $-7.8M | ||
| Q1 25 | $-52.7M | $5.2M | ||
| Q4 24 | $-252.0M | $-840.0K | ||
| Q3 24 | $-270.8M | $3.7M | ||
| Q2 24 | $-9.3M | $13.5M |
| Q1 26 | — | — | ||
| Q4 25 | -14.1% | 23.7% | ||
| Q3 25 | 19.5% | 15.9% | ||
| Q2 25 | 14.1% | -9.1% | ||
| Q1 25 | -30.6% | 7.9% | ||
| Q4 24 | -198.9% | -0.9% | ||
| Q3 24 | -141.4% | 5.8% | ||
| Q2 24 | -4.9% | 18.3% |
| Q1 26 | — | — | ||
| Q4 25 | 2.9% | 2.3% | ||
| Q3 25 | 0.4% | 3.6% | ||
| Q2 25 | 0.3% | 3.1% | ||
| Q1 25 | 0.7% | 5.4% | ||
| Q4 24 | 3.9% | 2.1% | ||
| Q3 24 | 0.4% | 3.4% | ||
| Q2 24 | 0.3% | 1.8% |
| Q1 26 | — | — | ||
| Q4 25 | -0.59× | 18.99× | ||
| Q3 25 | 33.61× | 6.05× | ||
| Q2 25 | 5.29× | -0.24× | ||
| Q1 25 | -5.38× | — | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | — | ||
| Q2 24 | -1.14× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
JRVR
Segment breakdown not available.
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
