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Side-by-side financial comparison of LiveWire Group, Inc. (LVWR) and SS Innovations International, Inc. (SSII). Click either name above to swap in a different company.
SS Innovations International, Inc. is the larger business by last-quarter revenue ($14.5M vs $11.4M, roughly 1.3× LiveWire Group, Inc.). SS Innovations International, Inc. runs the higher net margin — -17.0% vs -155.2%, a 138.2% gap on every dollar of revenue. On growth, SS Innovations International, Inc. posted the faster year-over-year revenue change (79.1% vs 5.5%). SS Innovations International, Inc. produced more free cash flow last quarter ($-3.2M vs $-8.9M). Over the past eight quarters, SS Innovations International, Inc.'s revenue compounded faster (99.9% CAGR vs 51.0%).
LiveWire is an American electric motorcycle manufacturer. It was initially launched as a dedicated electric vehicle (EV) division for Harley Davidson in July 2021. The company was spun-off from its parent and went public on September 27, 2022, via merger with a special-purpose acquisition company (SPAC). It was the first publicly traded electric motorcycle company in the United States.
SS Innovations International, Inc. is a global medical technology enterprise specializing in the research, development and manufacturing of innovative surgical robotic systems. It provides high-precision, accessible robotic platforms for minimally invasive surgery, catering to healthcare facilities across multiple regions to boost surgical outcomes and cut procedural burdens.
LVWR vs SSII — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $11.4M | $14.5M |
| Net Profit | $-17.6M | $-2.5M |
| Gross Margin | 0.8% | 43.9% |
| Operating Margin | -156.2% | -3.7% |
| Net Margin | -155.2% | -17.0% |
| Revenue YoY | 5.5% | 79.1% |
| Net Profit YoY | 22.6% | -28.5% |
| EPS (diluted) | $-0.09 | $-0.01 |
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 | $11.4M | $14.5M | ||
| Q3 25 | $5.7M | $12.8M | ||
| Q2 25 | $5.9M | $10.0M | ||
| Q1 25 | $2.7M | $5.1M | ||
| Q4 24 | $10.8M | $8.1M | ||
| Q3 24 | $4.4M | $4.4M | ||
| Q2 24 | $6.4M | $4.5M | ||
| Q1 24 | $5.0M | $3.6M |
| Q4 25 | $-17.6M | $-2.5M | ||
| Q3 25 | $-19.4M | $-3.7M | ||
| Q2 25 | $-18.8M | $-256.7K | ||
| Q1 25 | $-19.3M | $-5.7M | ||
| Q4 24 | $-22.8M | $-1.9M | ||
| Q3 24 | $-22.7M | $-3.2M | ||
| Q2 24 | $-24.8M | $-4.1M | ||
| Q1 24 | $-23.6M | $-9.8M |
| Q4 25 | 0.8% | 43.9% | ||
| Q3 25 | -50.9% | 48.1% | ||
| Q2 25 | 9.3% | 59.1% | ||
| Q1 25 | -79.0% | 21.2% | ||
| Q4 24 | -49.8% | 48.9% | ||
| Q3 24 | -34.2% | 52.8% | ||
| Q2 24 | -27.6% | 31.9% | ||
| Q1 24 | -82.9% | 20.0% |
| Q4 25 | -156.2% | -3.7% | ||
| Q3 25 | -330.0% | -14.3% | ||
| Q2 25 | -311.0% | 1.0% | ||
| Q1 25 | -753.4% | -115.6% | ||
| Q4 24 | -234.6% | -22.7% | ||
| Q3 24 | -596.7% | -73.1% | ||
| Q2 24 | -436.7% | -90.9% | ||
| Q1 24 | -611.1% | -270.3% |
| Q4 25 | -155.2% | -17.0% | ||
| Q3 25 | -340.2% | -29.0% | ||
| Q2 25 | -320.6% | -2.6% | ||
| Q1 25 | -702.6% | -111.0% | ||
| Q4 24 | -211.7% | -23.7% | ||
| Q3 24 | -510.6% | -74.0% | ||
| Q2 24 | -384.6% | -91.8% | ||
| Q1 24 | -475.0% | -270.5% |
| Q4 25 | $-0.09 | $-0.01 | ||
| Q3 25 | $-0.10 | $-0.02 | ||
| Q2 25 | $-0.09 | $0.00 | ||
| Q1 25 | $-0.09 | $-0.03 | ||
| Q4 24 | $-0.11 | $-0.01 | ||
| Q3 24 | $-0.11 | $-0.02 | ||
| Q2 24 | $-0.12 | $-0.02 | ||
| Q1 24 | $-0.12 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $82.8M | $3.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $46.0M | $38.2M |
| Total Assets | $146.4M | $74.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $82.8M | $3.2M | ||
| Q3 25 | $16.3M | $5.7M | ||
| Q2 25 | $29.3M | $11.4M | ||
| Q1 25 | $46.2M | $15.9M | ||
| Q4 24 | $64.4M | $466.5K | ||
| Q3 24 | $88.4M | $220.4K | ||
| Q2 24 | $113.0M | $608.2K | ||
| Q1 24 | $141.0M | $948.1K |
| Q4 25 | $46.0M | $38.2M | ||
| Q3 25 | $61.8M | $39.6M | ||
| Q2 25 | $79.7M | $42.0M | ||
| Q1 25 | $97.2M | $40.6M | ||
| Q4 24 | $115.1M | $13.5M | ||
| Q3 24 | $137.7M | $13.7M | ||
| Q2 24 | $159.0M | $14.8M | ||
| Q1 24 | $183.8M | $16.7M |
| Q4 25 | $146.4M | $74.2M | ||
| Q3 25 | $89.2M | $69.6M | ||
| Q2 25 | $109.8M | $70.0M | ||
| Q1 25 | $128.3M | $63.5M | ||
| Q4 24 | $148.0M | $42.4M | ||
| Q3 24 | $178.3M | $39.0M | ||
| Q2 24 | $204.9M | $35.7M | ||
| Q1 24 | $237.1M | $35.2M |
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 | $-7.9M | $-1.5M |
| Free Cash FlowOCF − Capex | $-8.9M | $-3.2M |
| FCF MarginFCF / Revenue | -78.7% | -22.3% |
| Capex IntensityCapex / Revenue | 9.1% | 11.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-57.4M | $-22.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-7.9M | $-1.5M | ||
| Q3 25 | $-13.3M | $-7.5M | ||
| Q2 25 | $-14.9M | $-3.5M | ||
| Q1 25 | $-17.5M | $-6.1M | ||
| Q4 24 | $-21.9M | $-3.3M | ||
| Q3 24 | $-23.1M | $-2.5M | ||
| Q2 24 | $-26.0M | $-1.0M | ||
| Q1 24 | $-22.9M | $-2.7M |
| Q4 25 | $-8.9M | $-3.2M | ||
| Q3 25 | $-14.0M | $-8.2M | ||
| Q2 25 | $-16.3M | $-3.8M | ||
| Q1 25 | $-18.1M | $-7.0M | ||
| Q4 24 | $-23.3M | $-3.4M | ||
| Q3 24 | $-24.7M | $-4.2M | ||
| Q2 24 | $-27.8M | $-3.1M | ||
| Q1 24 | $-26.2M | $-2.8M |
| Q4 25 | -78.7% | -22.3% | ||
| Q3 25 | -245.9% | -64.1% | ||
| Q2 25 | -277.7% | -37.7% | ||
| Q1 25 | -660.0% | -136.2% | ||
| Q4 24 | -216.3% | -41.7% | ||
| Q3 24 | -555.3% | -96.9% | ||
| Q2 24 | -431.1% | -69.5% | ||
| Q1 24 | -525.6% | -76.9% |
| Q4 25 | 9.1% | 11.8% | ||
| Q3 25 | 12.9% | 5.9% | ||
| Q2 25 | 24.3% | 3.2% | ||
| Q1 25 | 22.3% | 17.0% | ||
| Q4 24 | 13.1% | 1.5% | ||
| Q3 24 | 35.6% | 38.8% | ||
| Q2 24 | 28.5% | 46.8% | ||
| Q1 24 | 65.1% | 3.5% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
LVWR
| STACYC Segment | $7.5M | 66% |
| Other | $3.8M | 34% |
SSII
| System Sales | $13.4M | 92% |
| Other | $1.2M | 8% |
