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Side-by-side financial comparison of Ladder Capital Corp (LADR) and DNA X, Inc. (SONM). Click either name above to swap in a different company.
Ladder Capital Corp is the larger business by last-quarter revenue ($22.3M vs $16.2M, roughly 1.4× DNA X, Inc.). Ladder Capital Corp runs the higher net margin — 71.0% vs -29.3%, a 100.4% gap on every dollar of revenue. On growth, DNA X, Inc. posted the faster year-over-year revenue change (7.9% vs -18.0%). Over the past eight quarters, DNA X, Inc.'s revenue compounded faster (9.9% CAGR vs -22.5%).
Ladder Capital Corp is a leading commercial real estate finance firm operating primarily across the United States. It originates and manages a diversified portfolio of senior secured commercial mortgage loans, mezzanine debt, commercial mortgage-backed securities, and direct real estate assets, serving property owners, operators and developers across major market segments.
LADR vs SONM — Head-to-Head
Income Statement — Q4 FY2025 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $22.3M | $16.2M |
| Net Profit | $15.9M | $-4.8M |
| Gross Margin | — | 11.2% |
| Operating Margin | 69.5% | -24.5% |
| Net Margin | 71.0% | -29.3% |
| Revenue YoY | -18.0% | 7.9% |
| Net Profit YoY | -49.4% | -89.2% |
| EPS (diluted) | $0.13 | $-4.83 |
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 | $22.3M | — | ||
| Q3 25 | $27.8M | $16.2M | ||
| Q2 25 | $21.5M | $11.2M | ||
| Q1 25 | $20.3M | $16.7M | ||
| Q4 24 | $27.2M | $15.3M | ||
| Q3 24 | $38.4M | $15.0M | ||
| Q2 24 | $34.3M | $11.5M | ||
| Q1 24 | $37.1M | $9.1M |
| Q4 25 | $15.9M | — | ||
| Q3 25 | $19.2M | $-4.8M | ||
| Q2 25 | $17.1M | $-7.5M | ||
| Q1 25 | $11.6M | $458.0K | ||
| Q4 24 | $31.3M | $-21.6M | ||
| Q3 24 | $27.6M | $-2.5M | ||
| Q2 24 | $32.1M | $-6.6M | ||
| Q1 24 | $16.4M | $-2.9M |
| Q4 25 | — | — | ||
| Q3 25 | — | 11.2% | ||
| Q2 25 | — | 7.6% | ||
| Q1 25 | — | 50.0% | ||
| Q4 24 | — | -1.2% | ||
| Q3 24 | — | 28.2% | ||
| Q2 24 | — | 25.8% | ||
| Q1 24 | — | 31.8% |
| Q4 25 | 69.5% | — | ||
| Q3 25 | 72.4% | -24.5% | ||
| Q2 25 | 96.7% | -60.2% | ||
| Q1 25 | 52.7% | 3.9% | ||
| Q4 24 | — | 55.3% | ||
| Q3 24 | 74.1% | -15.8% | ||
| Q2 24 | 90.4% | -56.2% | ||
| Q1 24 | 49.4% | -29.5% |
| Q4 25 | 71.0% | — | ||
| Q3 25 | 69.0% | -29.3% | ||
| Q2 25 | 79.5% | -66.8% | ||
| Q1 25 | 56.8% | 2.7% | ||
| Q4 24 | 115.1% | -141.6% | ||
| Q3 24 | 71.7% | -16.7% | ||
| Q2 24 | 93.6% | -57.5% | ||
| Q1 24 | 44.2% | -31.9% |
| Q4 25 | $0.13 | — | ||
| Q3 25 | $0.15 | $-4.83 | ||
| Q2 25 | $0.14 | $-0.79 | ||
| Q1 25 | $0.09 | $0.08 | ||
| Q4 24 | $0.25 | $-116.99 | ||
| Q3 24 | $0.22 | $-9.32 | ||
| Q2 24 | $0.26 | $-1.41 | ||
| Q1 24 | $0.13 | $-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 | $38.0M | $2.1M |
| Total DebtLower is stronger | — | $5.1M |
| Stockholders' EquityBook value | $1.5B | $-701.0K |
| Total Assets | $5.2B | $40.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.0M | — | ||
| Q3 25 | $49.4M | $2.1M | ||
| Q2 25 | $134.9M | $2.0M | ||
| Q1 25 | $479.8M | $2.1M | ||
| Q4 24 | $1.3B | $5.3M | ||
| Q3 24 | $1.6B | $9.1M | ||
| Q2 24 | $1.2B | $9.6M | ||
| Q1 24 | $1.2B | $9.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | $5.1M | ||
| Q2 25 | — | $2.9M | ||
| Q1 25 | — | $2.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $1.5B | — | ||
| Q3 25 | $1.5B | $-701.0K | ||
| Q2 25 | $1.5B | $-1.3M | ||
| Q1 25 | $1.5B | $-1.1M | ||
| Q4 24 | $1.5B | $-5.7M | ||
| Q3 24 | $1.5B | $15.3M | ||
| Q2 24 | $1.5B | $17.5M | ||
| Q1 24 | $1.5B | $19.8M |
| Q4 25 | $5.2B | — | ||
| Q3 25 | $4.7B | $40.2M | ||
| Q2 25 | $4.5B | $36.1M | ||
| Q1 25 | $4.5B | $36.0M | ||
| Q4 24 | $4.8B | $39.7M | ||
| Q3 24 | $4.8B | $49.1M | ||
| Q2 24 | $4.8B | $45.9M | ||
| Q1 24 | $5.3B | $42.4M |
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 | $87.0M | $-7.0M |
| Free Cash FlowOCF − Capex | $78.7M | — |
| FCF MarginFCF / Revenue | 352.4% | — |
| Capex IntensityCapex / Revenue | 37.4% | — |
| Cash ConversionOCF / Net Profit | 5.49× | — |
| TTM Free Cash FlowTrailing 4 quarters | $118.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $87.0M | — | ||
| Q3 25 | $26.3M | $-7.0M | ||
| Q2 25 | $44.0M | $-4.9M | ||
| Q1 25 | $-28.7M | $-9.6M | ||
| Q4 24 | $133.9M | $-4.5M | ||
| Q3 24 | $169.0M | $-417.0K | ||
| Q2 24 | $45.4M | $-3.4M | ||
| Q1 24 | $-20.4M | $-168.0K |
| Q4 25 | $78.7M | — | ||
| Q3 25 | $25.9M | — | ||
| Q2 25 | $43.4M | — | ||
| Q1 25 | $-29.6M | — | ||
| Q4 24 | $127.4M | $-4.5M | ||
| Q3 24 | $166.0M | $-554.0K | ||
| Q2 24 | $44.9M | $-3.4M | ||
| Q1 24 | $-21.7M | $-198.0K |
| Q4 25 | 352.4% | — | ||
| Q3 25 | 93.1% | — | ||
| Q2 25 | 201.6% | — | ||
| Q1 25 | -145.6% | — | ||
| Q4 24 | 468.2% | -29.6% | ||
| Q3 24 | 432.1% | -3.7% | ||
| Q2 24 | 131.0% | -29.8% | ||
| Q1 24 | -58.6% | -2.2% |
| Q4 25 | 37.4% | — | ||
| Q3 25 | 1.7% | — | ||
| Q2 25 | 2.9% | — | ||
| Q1 25 | 4.3% | — | ||
| Q4 24 | 23.9% | 0.1% | ||
| Q3 24 | 7.8% | 0.9% | ||
| Q2 24 | 1.3% | 0.3% | ||
| Q1 24 | 3.7% | 0.3% |
| Q4 25 | 5.49× | — | ||
| Q3 25 | 1.37× | — | ||
| Q2 25 | 2.57× | — | ||
| Q1 25 | -2.49× | -20.97× | ||
| Q4 24 | 4.27× | — | ||
| Q3 24 | 6.13× | — | ||
| Q2 24 | 1.41× | — | ||
| Q1 24 | -1.24× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
