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Side-by-side financial comparison of Karman Holdings Inc. (KRMN) and Oportun Financial Corp (OPRT). Click either name above to swap in a different company.
Oportun Financial Corp is the larger business by last-quarter revenue ($247.7M vs $134.5M, roughly 1.8× Karman Holdings Inc.). Karman Holdings Inc. runs the higher net margin — 5.7% vs 1.4%, a 4.4% gap on every dollar of revenue. On growth, Karman Holdings Inc. posted the faster year-over-year revenue change (47.4% vs -1.3%). Over the past eight quarters, Karman Holdings Inc.'s revenue compounded faster (27.3% CAGR vs -0.5%).
Karman Holdings is an American fabricator of space and defense systems based in Huntington Beach, California. The company, which is valued at approximately US$4 billion, recently underwent an initial public offering.
Oportun Financial Corp is a US-based fintech firm that provides accessible, responsible financial services including personal loans, credit cards, and savings products to underserved low-to-moderate income consumers, many with limited or no credit history, leveraging proprietary AI underwriting to deliver fair terms while mitigating operational risk.
KRMN vs OPRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.5M | $247.7M |
| Net Profit | $7.7M | $3.4M |
| Gross Margin | 39.9% | — |
| Operating Margin | 15.7% | 2.6% |
| Net Margin | 5.7% | 1.4% |
| Revenue YoY | 47.4% | -1.3% |
| Net Profit YoY | 358.3% | -61.0% |
| EPS (diluted) | $0.06 | $0.07 |
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 | $134.5M | $247.7M | ||
| Q3 25 | $121.8M | $238.7M | ||
| Q2 25 | $115.1M | $234.3M | ||
| Q1 25 | $100.1M | $235.9M | ||
| Q4 24 | $91.2M | $250.9M | ||
| Q3 24 | $86.0M | $250.0M | ||
| Q2 24 | $85.0M | $250.4M | ||
| Q1 24 | $83.0M | $250.5M |
| Q4 25 | $7.7M | $3.4M | ||
| Q3 25 | $7.6M | $5.2M | ||
| Q2 25 | $6.8M | $6.9M | ||
| Q1 25 | $-4.8M | $9.8M | ||
| Q4 24 | $1.7M | $8.7M | ||
| Q3 24 | $4.3M | $-30.0M | ||
| Q2 24 | $4.6M | $-31.0M | ||
| Q1 24 | $2.1M | $-26.4M |
| Q4 25 | 39.9% | — | ||
| Q3 25 | 41.0% | — | ||
| Q2 25 | 40.9% | — | ||
| Q1 25 | 39.4% | — | ||
| Q4 24 | 38.1% | — | ||
| Q3 24 | 39.3% | — | ||
| Q2 24 | 40.7% | — | ||
| Q1 24 | 34.9% | — |
| Q4 25 | 15.7% | 2.6% | ||
| Q3 25 | 17.9% | 6.0% | ||
| Q2 25 | 17.5% | 4.3% | ||
| Q1 25 | 10.0% | 5.6% | ||
| Q4 24 | 15.8% | 89.6% | ||
| Q3 24 | 20.2% | -15.8% | ||
| Q2 24 | 21.5% | -19.6% | ||
| Q1 24 | 16.3% | -12.2% |
| Q4 25 | 5.7% | 1.4% | ||
| Q3 25 | 6.3% | 2.2% | ||
| Q2 25 | 5.9% | 2.9% | ||
| Q1 25 | -4.8% | 4.1% | ||
| Q4 24 | 1.8% | 200.1% | ||
| Q3 24 | 5.0% | -12.0% | ||
| Q2 24 | 5.4% | -12.4% | ||
| Q1 24 | 2.6% | -10.6% |
| Q4 25 | $0.06 | $0.07 | ||
| Q3 25 | $0.06 | $0.11 | ||
| Q2 25 | $0.05 | $0.14 | ||
| Q1 25 | $-0.04 | $0.21 | ||
| Q4 24 | $0.01 | $0.26 | ||
| Q3 24 | $0.03 | $-0.75 | ||
| Q2 24 | $0.03 | $-0.78 | ||
| Q1 24 | $0.01 | $-0.68 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $34.0M | $105.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $382.7M | $390.1M |
| Total Assets | $1.1B | $3.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.0M | $105.5M | ||
| Q3 25 | $18.7M | $104.6M | ||
| Q2 25 | $27.4M | $96.8M | ||
| Q1 25 | $113.7M | $78.5M | ||
| Q4 24 | $11.5M | $60.0M | ||
| Q3 24 | — | $71.8M | ||
| Q2 24 | — | $72.9M | ||
| Q1 24 | — | $69.2M |
| Q4 25 | $382.7M | $390.1M | ||
| Q3 25 | $369.1M | $383.9M | ||
| Q2 25 | $361.5M | $376.0M | ||
| Q1 25 | $348.9M | $366.1M | ||
| Q4 24 | $196.0M | $353.8M | ||
| Q3 24 | $194.1M | $327.6M | ||
| Q2 24 | $189.6M | $354.1M | ||
| Q1 24 | $184.8M | $382.0M |
| Q4 25 | $1.1B | $3.3B | ||
| Q3 25 | $968.1M | $3.2B | ||
| Q2 25 | $953.9M | $3.2B | ||
| Q1 25 | $875.4M | $3.2B | ||
| Q4 24 | $774.0M | $3.2B | ||
| Q3 24 | — | $3.3B | ||
| Q2 24 | — | $3.3B | ||
| Q1 24 | — | $3.3B |
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 | $8.7M | $413.4M |
| Free Cash FlowOCF − Capex | $4.0M | — |
| FCF MarginFCF / Revenue | 3.0% | — |
| Capex IntensityCapex / Revenue | 3.5% | — |
| Cash ConversionOCF / Net Profit | 1.13× | 121.45× |
| TTM Free Cash FlowTrailing 4 quarters | $-42.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $413.4M | ||
| Q3 25 | $131.0K | $99.0M | ||
| Q2 25 | $-17.4M | $104.5M | ||
| Q1 25 | $-13.6M | $101.0M | ||
| Q4 24 | — | $393.5M | ||
| Q3 24 | — | $108.5M | ||
| Q2 24 | — | $107.7M | ||
| Q1 24 | $3.1M | $85.9M |
| Q4 25 | $4.0M | — | ||
| Q3 25 | $-6.8M | — | ||
| Q2 25 | $-21.0M | — | ||
| Q1 25 | $-18.6M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $1.5M | — |
| Q4 25 | 3.0% | — | ||
| Q3 25 | -5.6% | — | ||
| Q2 25 | -18.2% | — | ||
| Q1 25 | -18.6% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.8% | — |
| Q4 25 | 3.5% | — | ||
| Q3 25 | 5.7% | — | ||
| Q2 25 | 3.2% | — | ||
| Q1 25 | 5.0% | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.9% | — |
| Q4 25 | 1.13× | 121.45× | ||
| Q3 25 | 0.02× | 19.05× | ||
| Q2 25 | -2.55× | 15.20× | ||
| Q1 25 | — | 10.34× | ||
| Q4 24 | — | 45.04× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 1.45× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
KRMN
| Tactical Missile And Integrated Defense Systems | $50.5M | 38% |
| Hypersonic And Strategic Missile Defense | $48.4M | 36% |
| Space And Launch | $35.7M | 27% |
OPRT
Segment breakdown not available.
