vs
Side-by-side financial comparison of Karman Holdings Inc. (KRMN) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
Purple Innovation, Inc. is the larger business by last-quarter revenue ($140.7M vs $134.5M, roughly 1.0× Karman Holdings Inc.). Karman Holdings Inc. runs the higher net margin — 5.7% vs -2.3%, a 8.0% gap on every dollar of revenue. On growth, Karman Holdings Inc. posted the faster year-over-year revenue change (47.4% vs 9.1%). Karman Holdings Inc. produced more free cash flow last quarter ($4.0M vs $-7.8M). Over the past eight quarters, Karman Holdings Inc.'s revenue compounded faster (27.3% CAGR vs 8.3%).
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.
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.”
KRMN vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $134.5M | $140.7M |
| Net Profit | $7.7M | $-3.2M |
| Gross Margin | 39.9% | 41.9% |
| Operating Margin | 15.7% | -1.6% |
| Net Margin | 5.7% | -2.3% |
| Revenue YoY | 47.4% | 9.1% |
| Net Profit YoY | 358.3% | 62.1% |
| EPS (diluted) | $0.06 | $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 | $134.5M | $140.7M | ||
| Q3 25 | $121.8M | $118.8M | ||
| Q2 25 | $115.1M | $105.1M | ||
| Q1 25 | $100.1M | $104.2M | ||
| Q4 24 | $91.2M | $129.0M | ||
| Q3 24 | $86.0M | $118.6M | ||
| Q2 24 | $85.0M | $120.3M | ||
| Q1 24 | $83.0M | $120.0M |
| Q4 25 | $7.7M | $-3.2M | ||
| Q3 25 | $7.6M | $-11.7M | ||
| Q2 25 | $6.8M | $-17.3M | ||
| Q1 25 | $-4.8M | $-19.1M | ||
| Q4 24 | $1.7M | $-8.5M | ||
| Q3 24 | $4.3M | $-39.2M | ||
| Q2 24 | $4.6M | $27.0K | ||
| Q1 24 | $2.1M | $-50.2M |
| Q4 25 | 39.9% | 41.9% | ||
| Q3 25 | 41.0% | 42.8% | ||
| Q2 25 | 40.9% | 35.9% | ||
| Q1 25 | 39.4% | 39.4% | ||
| Q4 24 | 38.1% | 42.9% | ||
| Q3 24 | 39.3% | 29.7% | ||
| Q2 24 | 40.7% | 40.7% | ||
| Q1 24 | 34.9% | 34.8% |
| Q4 25 | 15.7% | -1.6% | ||
| Q3 25 | 17.9% | -10.2% | ||
| Q2 25 | 17.5% | -13.5% | ||
| Q1 25 | 10.0% | -13.9% | ||
| Q4 24 | 15.8% | -6.0% | ||
| Q3 24 | 20.2% | -39.5% | ||
| Q2 24 | 21.5% | -12.1% | ||
| Q1 24 | 16.3% | -19.3% |
| Q4 25 | 5.7% | -2.3% | ||
| Q3 25 | 6.3% | -9.9% | ||
| Q2 25 | 5.9% | -16.5% | ||
| Q1 25 | -4.8% | -18.4% | ||
| Q4 24 | 1.8% | -6.6% | ||
| Q3 24 | 5.0% | -33.1% | ||
| Q2 24 | 5.4% | 0.0% | ||
| Q1 24 | 2.6% | -41.8% |
| Q4 25 | $0.06 | $0.03 | ||
| Q3 25 | $0.06 | $0.11 | ||
| Q2 25 | $0.05 | $0.16 | ||
| Q1 25 | $-0.04 | $0.18 | ||
| Q4 24 | $0.01 | $0.08 | ||
| Q3 24 | $0.03 | $0.36 | ||
| Q2 24 | $0.03 | $0.00 | ||
| Q1 24 | $0.01 | $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 | $34.0M | $24.3M |
| Total DebtLower is stronger | — | $126.7M |
| Stockholders' EquityBook value | $382.7M | $-29.7M |
| Total Assets | $1.1B | $296.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.0M | $24.3M | ||
| Q3 25 | $18.7M | $32.4M | ||
| Q2 25 | $27.4M | $34.2M | ||
| Q1 25 | $113.7M | $21.6M | ||
| Q4 24 | $11.5M | $29.0M | ||
| Q3 24 | — | $23.4M | ||
| Q2 24 | — | $23.4M | ||
| Q1 24 | — | $34.5M |
| Q4 25 | — | $126.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $70.7M | ||
| Q3 24 | — | $50.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $382.7M | $-29.7M | ||
| Q3 25 | $369.1M | $-26.9M | ||
| Q2 25 | $361.5M | $-15.6M | ||
| Q1 25 | $348.9M | $1.3M | ||
| Q4 24 | $196.0M | $20.2M | ||
| Q3 24 | $194.1M | $28.0M | ||
| Q2 24 | $189.6M | $66.4M | ||
| Q1 24 | $184.8M | $65.5M |
| Q4 25 | $1.1B | $296.3M | ||
| Q3 25 | $968.1M | $302.1M | ||
| Q2 25 | $953.9M | $303.8M | ||
| Q1 25 | $875.4M | $293.8M | ||
| Q4 24 | $774.0M | $307.8M | ||
| Q3 24 | — | $309.3M | ||
| Q2 24 | — | $362.1M | ||
| Q1 24 | — | $382.1M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| 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 | $8.7M | $-5.8M |
| Free Cash FlowOCF − Capex | $4.0M | $-7.8M |
| FCF MarginFCF / Revenue | 3.0% | -5.5% |
| Capex IntensityCapex / Revenue | 3.5% | 1.4% |
| Cash ConversionOCF / Net Profit | 1.13× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-42.5M | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | $-5.8M | ||
| Q3 25 | $131.0K | $-968.0K | ||
| Q2 25 | $-17.4M | $-4.0M | ||
| Q1 25 | $-13.6M | $-23.1M | ||
| Q4 24 | — | $6.8M | ||
| Q3 24 | — | $1.1M | ||
| Q2 24 | — | $-8.9M | ||
| Q1 24 | $3.1M | $-16.8M |
| Q4 25 | $4.0M | $-7.8M | ||
| Q3 25 | $-6.8M | $-1.8M | ||
| Q2 25 | $-21.0M | $-7.0M | ||
| Q1 25 | $-18.6M | $-25.3M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $101.0K | ||
| Q2 24 | — | $-11.0M | ||
| Q1 24 | $1.5M | $-19.9M |
| Q4 25 | 3.0% | -5.5% | ||
| Q3 25 | -5.6% | -1.5% | ||
| Q2 25 | -18.2% | -6.6% | ||
| Q1 25 | -18.6% | -24.3% | ||
| Q4 24 | — | 4.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | -9.2% | ||
| Q1 24 | 1.8% | -16.5% |
| Q4 25 | 3.5% | 1.4% | ||
| Q3 25 | 5.7% | 0.7% | ||
| Q2 25 | 3.2% | 2.8% | ||
| Q1 25 | 5.0% | 2.2% | ||
| Q4 24 | — | 0.8% | ||
| Q3 24 | — | 0.9% | ||
| Q2 24 | — | 1.7% | ||
| Q1 24 | 1.9% | 2.5% |
| Q4 25 | 1.13× | — | ||
| Q3 25 | 0.02× | — | ||
| Q2 25 | -2.55× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -330.22× | ||
| 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% |
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
