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Side-by-side financial comparison of Maase Inc. (MAAS) and VisionWave Holdings, Inc. (VWAV). Click either name above to swap in a different company.

VisionWave Holdings, Inc. is the larger business by last-quarter revenue ($10.0M vs $9.9M, roughly 1.0× Maase Inc.).

CoMix Wave Films, Inc. is a Japanese independent animation film studio and distribution company based in Chiyoda, Tokyo, Japan. The studio is known for its anime feature films, short films, and television commercials, particularly those made by director Makoto Shinkai. It was founded in March 2007 when it split from CoMix Wave Inc., which was initially formed in 1998 from Itochu Corporation, ASATSU, and other companies. On 15 October 2024, Toho announced that they'd acquired 45 shares or 6.0...

MAAS vs VWAV — Head-to-Head

Bigger by revenue
VWAV
VWAV
1.0× larger
VWAV
$10.0M
$9.9M
MAAS

Income Statement — Q2 FY2023 vs Q1 FY2026

Metric
MAAS
MAAS
VWAV
VWAV
Revenue
$9.9M
$10.0M
Net Profit
$-6.9M
Gross Margin
78.7%
Operating Margin
-55.9%
-65.7%
Net Margin
-69.4%
Revenue YoY
Net Profit YoY
-1522.6%
EPS (diluted)

Green = leading value per metric. Periods may differ when fiscal calendars don't align.

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
MAAS
MAAS
VWAV
VWAV
Cash + ST InvestmentsLiquidity on hand
$10.9M
$15.7K
Total DebtLower is stronger
Stockholders' EquityBook value
$31.6M
$3.1M
Total Assets
$47.0M
$18.4M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MAAS
MAAS
VWAV
VWAV
Q4 25
$15.7K
Q4 22
$10.9M
Stockholders' Equity
MAAS
MAAS
VWAV
VWAV
Q4 25
$3.1M
Q4 22
$31.6M
Total Assets
MAAS
MAAS
VWAV
VWAV
Q4 25
$18.4M
Q4 22
$47.0M

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
MAAS
MAAS
VWAV
VWAV
Operating Cash FlowLast quarter
$-18.2M
$-5.4M
Free Cash FlowOCF − Capex
$-18.3M
FCF MarginFCF / Revenue
-184.4%
Capex IntensityCapex / Revenue
1.0%
Cash ConversionOCF / Net Profit
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MAAS
MAAS
VWAV
VWAV
Q4 25
$-5.4M
Q4 22
$-18.2M
Free Cash Flow
MAAS
MAAS
VWAV
VWAV
Q4 25
Q4 22
$-18.3M
FCF Margin
MAAS
MAAS
VWAV
VWAV
Q4 25
Q4 22
-184.4%
Capex Intensity
MAAS
MAAS
VWAV
VWAV
Q4 25
Q4 22
1.0%

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

MAAS
MAAS

Wealth management$7.8M78%
Insurance consulting$1.0M10%
Other$975.0K10%
Asset management$168.0K2%

VWAV
VWAV

Segment breakdown not available.

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