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Side-by-side financial comparison of Karman Holdings Inc. (KRMN) and LiveRamp Holdings, Inc. (RAMP). Click either name above to swap in a different company.
LiveRamp Holdings, Inc. is the larger business by last-quarter revenue ($212.2M vs $134.5M, roughly 1.6× Karman Holdings Inc.). LiveRamp Holdings, Inc. runs the higher net margin — 18.8% vs 5.7%, a 13.1% gap on every dollar of revenue. On growth, Karman Holdings Inc. posted the faster year-over-year revenue change (47.4% vs 8.6%). Over the past eight quarters, Karman Holdings Inc.'s revenue compounded faster (27.3% CAGR vs 11.1%).
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.
LiveRamp Holdings, Inc., is an American SaaS company that offers a data connectivity platform whose services include data onboarding, the transfer of offline data online for marketing purposes.
KRMN vs RAMP — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2026
| Metric | | |
|---|---|---|
| Revenue | $134.5M | $212.2M |
| Net Profit | $7.7M | $39.9M |
| Gross Margin | 39.9% | 71.9% |
| Operating Margin | 15.7% | 18.6% |
| Net Margin | 5.7% | 18.8% |
| Revenue YoY | 47.4% | 8.6% |
| Net Profit YoY | 358.3% | 255.7% |
| EPS (diluted) | $0.06 | $0.62 |
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 | $212.2M | ||
| Q3 25 | $121.8M | $199.8M | ||
| Q2 25 | $115.1M | $194.8M | ||
| Q1 25 | $100.1M | $188.7M | ||
| Q4 24 | $91.2M | $195.4M | ||
| Q3 24 | $86.0M | $185.5M | ||
| Q2 24 | $85.0M | $176.0M | ||
| Q1 24 | $83.0M | $171.9M |
| Q4 25 | $7.7M | $39.9M | ||
| Q3 25 | $7.6M | $27.4M | ||
| Q2 25 | $6.8M | $7.7M | ||
| Q1 25 | $-4.8M | $-6.3M | ||
| Q4 24 | $1.7M | $11.2M | ||
| Q3 24 | $4.3M | $1.7M | ||
| Q2 24 | $4.6M | $-7.5M | ||
| Q1 24 | $2.1M | $-5.4M |
| Q4 25 | 39.9% | 71.9% | ||
| Q3 25 | 41.0% | 70.2% | ||
| Q2 25 | 40.9% | 70.1% | ||
| Q1 25 | 39.4% | 69.3% | ||
| Q4 24 | 38.1% | 71.9% | ||
| Q3 24 | 39.3% | 72.4% | ||
| Q2 24 | 40.7% | 70.6% | ||
| Q1 24 | 34.9% | 72.2% |
| Q4 25 | 15.7% | 18.6% | ||
| Q3 25 | 17.9% | 10.7% | ||
| Q2 25 | 17.5% | 3.7% | ||
| Q1 25 | 10.0% | -6.1% | ||
| Q4 24 | 15.8% | 7.5% | ||
| Q3 24 | 20.2% | 4.0% | ||
| Q2 24 | 21.5% | -3.0% | ||
| Q1 24 | 16.3% | -8.3% |
| Q4 25 | 5.7% | 18.8% | ||
| Q3 25 | 6.3% | 13.7% | ||
| Q2 25 | 5.9% | 4.0% | ||
| Q1 25 | -4.8% | -3.3% | ||
| Q4 24 | 1.8% | 5.7% | ||
| Q3 24 | 5.0% | 0.9% | ||
| Q2 24 | 5.4% | -4.3% | ||
| Q1 24 | 2.6% | -3.1% |
| Q4 25 | $0.06 | $0.62 | ||
| Q3 25 | $0.06 | $0.42 | ||
| Q2 25 | $0.05 | $0.12 | ||
| Q1 25 | $-0.04 | $-0.10 | ||
| Q4 24 | $0.01 | $0.17 | ||
| Q3 24 | $0.03 | $0.03 | ||
| Q2 24 | $0.03 | $-0.11 | ||
| Q1 24 | $0.01 | $-0.09 |
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 | $403.4M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $382.7M | $962.3M |
| Total Assets | $1.1B | $1.3B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $34.0M | $403.4M | ||
| Q3 25 | $18.7M | $376.9M | ||
| Q2 25 | $27.4M | $371.1M | ||
| Q1 25 | $113.7M | $420.8M | ||
| Q4 24 | $11.5M | $384.3M | ||
| Q3 24 | — | $348.4M | ||
| Q2 24 | — | $342.7M | ||
| Q1 24 | — | $368.9M |
| Q4 25 | $382.7M | $962.3M | ||
| Q3 25 | $369.1M | $943.8M | ||
| Q2 25 | $361.5M | $947.8M | ||
| Q1 25 | $348.9M | $948.9M | ||
| Q4 24 | $196.0M | $957.7M | ||
| Q3 24 | $194.1M | $932.1M | ||
| Q2 24 | $189.6M | $951.9M | ||
| Q1 24 | $184.8M | $949.1M |
| Q4 25 | $1.1B | $1.3B | ||
| Q3 25 | $968.1M | $1.2B | ||
| Q2 25 | $953.9M | $1.2B | ||
| Q1 25 | $875.4M | $1.3B | ||
| Q4 24 | $774.0M | $1.3B | ||
| Q3 24 | — | $1.2B | ||
| Q2 24 | — | $1.2B | ||
| Q1 24 | — | $1.2B |
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% | 0.1% |
| Cash ConversionOCF / Net Profit | 1.13× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-42.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $8.7M | — | ||
| Q3 25 | $131.0K | $57.4M | ||
| Q2 25 | $-17.4M | $-15.8M | ||
| Q1 25 | $-13.6M | — | ||
| Q4 24 | — | $45.1M | ||
| Q3 24 | — | $55.6M | ||
| Q2 24 | — | $-9.3M | ||
| Q1 24 | $3.1M | — |
| Q4 25 | $4.0M | — | ||
| Q3 25 | $-6.8M | $56.8M | ||
| Q2 25 | $-21.0M | $-16.2M | ||
| Q1 25 | $-18.6M | — | ||
| Q4 24 | — | $44.8M | ||
| Q3 24 | — | $55.4M | ||
| Q2 24 | — | $-9.6M | ||
| Q1 24 | $1.5M | — |
| Q4 25 | 3.0% | — | ||
| Q3 25 | -5.6% | 28.4% | ||
| Q2 25 | -18.2% | -8.3% | ||
| Q1 25 | -18.6% | — | ||
| Q4 24 | — | 22.9% | ||
| Q3 24 | — | 29.8% | ||
| Q2 24 | — | -5.4% | ||
| Q1 24 | 1.8% | — |
| Q4 25 | 3.5% | 0.1% | ||
| Q3 25 | 5.7% | 0.3% | ||
| Q2 25 | 3.2% | 0.2% | ||
| Q1 25 | 5.0% | 0.2% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | 1.9% | 1.0% |
| Q4 25 | 1.13× | — | ||
| Q3 25 | 0.02× | 2.09× | ||
| Q2 25 | -2.55× | -2.04× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.02× | ||
| Q3 24 | — | 32.10× | ||
| 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% |
RAMP
Segment breakdown not available.
