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Side-by-side financial comparison of Karman Holdings Inc. (KRMN) and Porch Group, Inc. (PRCH). Click either name above to swap in a different company.
Karman Holdings Inc. is the larger business by last-quarter revenue ($134.5M vs $121.1M, roughly 1.1× Porch Group, Inc.). Karman Holdings Inc. runs the higher net margin — 5.7% vs -3.9%, a 9.6% gap on every dollar of revenue. On growth, Porch Group, Inc. posted the faster year-over-year revenue change (100.0% vs 47.4%). Over the past eight quarters, Karman Holdings Inc.'s revenue compounded faster (27.3% CAGR vs 26.4%).
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.
Porch is a website that tries to connect homeowners with local home improvement contractors. The site features advice articles, cost guide, and online booking for over 160 home projects.
KRMN vs PRCH — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $134.5M | $121.1M |
| Net Profit | $7.7M | $-4.7M |
| Gross Margin | 39.9% | 52.7% |
| Operating Margin | 15.7% | 34.7% |
| Net Margin | 5.7% | -3.9% |
| Revenue YoY | 47.4% | 100.0% |
| Net Profit YoY | 358.3% | 2.0% |
| EPS (diluted) | $0.06 | $-0.04 |
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 | — | $121.1M | ||
| Q4 25 | $134.5M | $112.3M | ||
| Q3 25 | $121.8M | $115.1M | ||
| Q2 25 | $115.1M | $107.0M | ||
| Q1 25 | $100.1M | $84.5M | ||
| Q4 24 | $91.2M | $75.3M | ||
| Q3 24 | $86.0M | $77.7M | ||
| Q2 24 | $85.0M | $75.9M |
| Q1 26 | — | $-4.7M | ||
| Q4 25 | $7.7M | $-3.5M | ||
| Q3 25 | $7.6M | $-10.9M | ||
| Q2 25 | $6.8M | $2.6M | ||
| Q1 25 | $-4.8M | $8.4M | ||
| Q4 24 | $1.7M | $30.5M | ||
| Q3 24 | $4.3M | $14.4M | ||
| Q2 24 | $4.6M | $-64.3M |
| Q1 26 | — | 52.7% | ||
| Q4 25 | 39.9% | 99.5% | ||
| Q3 25 | 41.0% | 75.6% | ||
| Q2 25 | 40.9% | 70.9% | ||
| Q1 25 | 39.4% | 77.4% | ||
| Q4 24 | 38.1% | — | ||
| Q3 24 | 39.3% | 79.4% | ||
| Q2 24 | 40.7% | 22.1% |
| Q1 26 | — | 34.7% | ||
| Q4 25 | 15.7% | 14.7% | ||
| Q3 25 | 17.9% | 14.2% | ||
| Q2 25 | 17.5% | 4.7% | ||
| Q1 25 | 10.0% | -1.5% | ||
| Q4 24 | 15.8% | 33.3% | ||
| Q3 24 | 20.2% | -3.2% | ||
| Q2 24 | 21.5% | -69.2% |
| Q1 26 | — | -3.9% | ||
| Q4 25 | 5.7% | -3.1% | ||
| Q3 25 | 6.3% | -9.4% | ||
| Q2 25 | 5.9% | 2.4% | ||
| Q1 25 | -4.8% | 9.9% | ||
| Q4 24 | 1.8% | 40.5% | ||
| Q3 24 | 5.0% | 18.5% | ||
| Q2 24 | 5.4% | -84.8% |
| Q1 26 | — | $-0.04 | ||
| Q4 25 | $0.06 | $0.00 | ||
| Q3 25 | $0.06 | $-0.10 | ||
| Q2 25 | $0.05 | $0.00 | ||
| Q1 25 | $-0.04 | $0.07 | ||
| Q4 24 | $0.01 | $0.34 | ||
| Q3 24 | $0.03 | $0.12 | ||
| Q2 24 | $0.03 | $-0.65 |
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 | $68.4M |
| Total DebtLower is stronger | — | $391.3M |
| Stockholders' EquityBook value | $382.7M | $26.3M |
| Total Assets | $1.1B | $806.6M |
| Debt / EquityLower = less leverage | — | 14.87× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $68.4M | ||
| Q4 25 | $34.0M | $57.3M | ||
| Q3 25 | $18.7M | $85.0M | ||
| Q2 25 | $27.4M | $79.8M | ||
| Q1 25 | $113.7M | $70.4M | ||
| Q4 24 | $11.5M | $191.7M | ||
| Q3 24 | — | $238.6M | ||
| Q2 24 | — | $308.4M |
| Q1 26 | — | $391.3M | ||
| Q4 25 | — | $392.8M | ||
| Q3 25 | — | $387.1M | ||
| Q2 25 | — | $394.1M | ||
| Q1 25 | — | $409.2M | ||
| Q4 24 | — | $403.9M | ||
| Q3 24 | — | $399.0M | ||
| Q2 24 | — | $436.8M |
| Q1 26 | — | $26.3M | ||
| Q4 25 | $382.7M | $-24.6M | ||
| Q3 25 | $369.1M | $-27.9M | ||
| Q2 25 | $361.5M | $-29.3M | ||
| Q1 25 | $348.9M | $-52.4M | ||
| Q4 24 | $196.0M | $-43.2M | ||
| Q3 24 | $194.1M | $-77.0M | ||
| Q2 24 | $189.6M | $-101.9M |
| Q1 26 | — | $806.6M | ||
| Q4 25 | $1.1B | $797.4M | ||
| Q3 25 | $968.1M | $787.7M | ||
| Q2 25 | $953.9M | $770.7M | ||
| Q1 25 | $875.4M | $802.3M | ||
| Q4 24 | $774.0M | $814.0M | ||
| Q3 24 | — | $867.3M | ||
| Q2 24 | — | $876.1M |
| Q1 26 | — | 14.87× | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | $8.7M | — |
| Free Cash FlowOCF − Capex | $4.0M | — |
| FCF MarginFCF / Revenue | 3.0% | — |
| Capex IntensityCapex / Revenue | 3.5% | — |
| Cash ConversionOCF / Net Profit | 1.13× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-42.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $8.7M | $1.2M | ||
| Q3 25 | $131.0K | $40.8M | ||
| Q2 25 | $-17.4M | $35.6M | ||
| Q1 25 | $-13.6M | $-11.2M | ||
| Q4 24 | — | $-26.6M | ||
| Q3 24 | — | $12.4M | ||
| Q2 24 | — | $-26.0M |
| Q1 26 | — | — | ||
| Q4 25 | $4.0M | $1.1M | ||
| Q3 25 | $-6.8M | $40.7M | ||
| Q2 25 | $-21.0M | $35.4M | ||
| Q1 25 | $-18.6M | $-11.2M | ||
| Q4 24 | — | $-26.8M | ||
| Q3 24 | — | $12.2M | ||
| Q2 24 | — | $-26.0M |
| Q1 26 | — | — | ||
| Q4 25 | 3.0% | 1.0% | ||
| Q3 25 | -5.6% | 35.4% | ||
| Q2 25 | -18.2% | 33.0% | ||
| Q1 25 | -18.6% | -13.3% | ||
| Q4 24 | — | -35.6% | ||
| Q3 24 | — | 15.7% | ||
| Q2 24 | — | -34.3% |
| Q1 26 | — | — | ||
| Q4 25 | 3.5% | 0.1% | ||
| Q3 25 | 5.7% | 0.1% | ||
| Q2 25 | 3.2% | 0.2% | ||
| Q1 25 | 5.0% | 0.1% | ||
| Q4 24 | — | 0.3% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.1% |
| Q1 26 | — | — | ||
| Q4 25 | 1.13× | — | ||
| Q3 25 | 0.02× | — | ||
| Q2 25 | -2.55× | 13.79× | ||
| Q1 25 | — | -1.33× | ||
| Q4 24 | — | -0.87× | ||
| Q3 24 | — | 0.86× | ||
| Q2 24 | — | — |
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% |
PRCH
Segment breakdown not available.
