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Side-by-side financial comparison of MARA Holdings, Inc. (MARA) and Paylocity Holding Corp (PCTY). Click either name above to swap in a different company.
Paylocity Holding Corp is the larger business by last-quarter revenue ($387.0M vs $202.3M, roughly 1.9× MARA Holdings, Inc.). Paylocity Holding Corp runs the higher net margin — 13.0% vs -14298.3%, a 14311.2% gap on every dollar of revenue. On growth, Paylocity Holding Corp posted the faster year-over-year revenue change (11.3% vs -5.6%). Paylocity Holding Corp produced more free cash flow last quarter ($113.6M vs $-1.2B). Over the past eight quarters, MARA Holdings, Inc.'s revenue compounded faster (10.7% CAGR vs 2.7%).
MARA Holdings, Inc. is an American digital asset technology and cryptocurrency mining company headquartered in Fort Lauderdale, Florida. Founded in 2010, the company initially operated as a patent holding company before pivoting in the late 2010s to focus on blockchain infrastructure and digital assets.
Paylocity Holding Corporation is an American provider of cloud-based payroll, , spend management, and human capital management (HCM) software.
MARA vs PCTY — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $202.3M | $387.0M |
| Net Profit | $-1.7B | $50.2M |
| Gross Margin | — | 72.9% |
| Operating Margin | -11795.9% | 18.2% |
| Net Margin | -14298.3% | 13.0% |
| Revenue YoY | -5.6% | 11.3% |
| Net Profit YoY | -423.5% | 34.0% |
| EPS (diluted) | $-4.25 | $0.92 |
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 | $202.3M | $387.0M | ||
| Q3 25 | $252.4M | $378.9M | ||
| Q2 25 | $238.5M | $369.9M | ||
| Q1 25 | $213.9M | $421.1M | ||
| Q4 24 | $214.4M | $347.7M | ||
| Q3 24 | $131.6M | $333.1M | ||
| Q2 24 | $145.1M | $324.7M | ||
| Q1 24 | $165.2M | $366.8M |
| Q4 25 | $-1.7B | $50.2M | ||
| Q3 25 | $123.1M | $48.0M | ||
| Q2 25 | $808.2M | $48.6M | ||
| Q1 25 | $-533.4M | $91.5M | ||
| Q4 24 | $528.5M | $37.5M | ||
| Q3 24 | $-124.8M | $49.6M | ||
| Q2 24 | $-199.7M | $48.8M | ||
| Q1 24 | $337.2M | $85.3M |
| Q4 25 | — | 72.9% | ||
| Q3 25 | — | 73.9% | ||
| Q2 25 | — | 73.5% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | -2613.4% | 72.6% | ||
| Q3 24 | -1065.0% | 74.4% | ||
| Q2 24 | -587.6% | 74.0% | ||
| Q1 24 | -289.4% | 77.8% |
| Q4 25 | -11795.9% | 18.2% | ||
| Q3 25 | 18.9% | 19.6% | ||
| Q2 25 | — | 17.9% | ||
| Q1 25 | -253.0% | 30.2% | ||
| Q4 24 | — | 13.4% | ||
| Q3 24 | -130.8% | 19.3% | ||
| Q2 24 | -160.1% | 19.4% | ||
| Q1 24 | — | 29.0% |
| Q4 25 | -14298.3% | 13.0% | ||
| Q3 25 | 48.8% | 12.7% | ||
| Q2 25 | 338.9% | 13.1% | ||
| Q1 25 | -249.4% | 21.7% | ||
| Q4 24 | 5367.4% | 10.8% | ||
| Q3 24 | -94.8% | 14.9% | ||
| Q2 24 | -137.6% | 15.0% | ||
| Q1 24 | 204.1% | 23.3% |
| Q4 25 | $-4.25 | $0.92 | ||
| Q3 25 | $0.27 | $0.86 | ||
| Q2 25 | $1.84 | $0.87 | ||
| Q1 25 | $-1.55 | $1.61 | ||
| Q4 24 | $1.60 | $0.66 | ||
| Q3 24 | $-0.42 | $0.88 | ||
| Q2 24 | $-0.72 | $0.85 | ||
| Q1 24 | $1.26 | $1.50 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $547.1M | $162.5M |
| Total DebtLower is stronger | $3.6B | $81.3M |
| Stockholders' EquityBook value | $3.5B | $1.1B |
| Total Assets | $7.3B | $7.0B |
| Debt / EquityLower = less leverage | 1.04× | 0.07× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $547.1M | $162.5M | ||
| Q3 25 | $826.4M | $165.2M | ||
| Q2 25 | $109.5M | $398.1M | ||
| Q1 25 | $196.2M | $477.8M | ||
| Q4 24 | $391.8M | $482.4M | ||
| Q3 24 | $164.3M | $778.5M | ||
| Q2 24 | $256.0M | $401.8M | ||
| Q1 24 | $324.3M | $492.7M |
| Q4 25 | $3.6B | $81.3M | ||
| Q3 25 | $3.2B | $81.3M | ||
| Q2 25 | $2.3B | $162.5M | ||
| Q1 25 | $2.3B | $243.8M | ||
| Q4 24 | $2.4B | $325.0M | ||
| Q3 24 | $618.7M | $325.0M | ||
| Q2 24 | — | $0 | ||
| Q1 24 | — | — |
| Q4 25 | $3.5B | $1.1B | ||
| Q3 25 | $5.2B | $1.1B | ||
| Q2 25 | $4.8B | $1.2B | ||
| Q1 25 | $3.7B | $1.2B | ||
| Q4 24 | $4.1B | $1.2B | ||
| Q3 24 | $2.9B | $1.1B | ||
| Q2 24 | $2.6B | $1.0B | ||
| Q1 24 | $2.5B | $1.1B |
| Q4 25 | $7.3B | $7.0B | ||
| Q3 25 | $9.2B | $4.2B | ||
| Q2 25 | $7.7B | $4.4B | ||
| Q1 25 | $6.4B | $5.2B | ||
| Q4 24 | $6.8B | $5.3B | ||
| Q3 24 | $3.6B | $4.0B | ||
| Q2 24 | $3.1B | $4.2B | ||
| Q1 24 | $3.0B | $5.0B |
| Q4 25 | 1.04× | 0.07× | ||
| Q3 25 | 0.63× | 0.07× | ||
| Q2 25 | 0.47× | 0.13× | ||
| Q1 25 | 0.62× | 0.20× | ||
| Q4 24 | 0.59× | 0.28× | ||
| Q3 24 | 0.22× | 0.29× | ||
| Q2 24 | — | 0.00× | ||
| 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 | $-802.7M | $117.0M |
| Free Cash FlowOCF − Capex | $-1.2B | $113.6M |
| FCF MarginFCF / Revenue | -598.0% | 29.4% |
| Capex IntensityCapex / Revenue | 201.2% | 0.9% |
| Cash ConversionOCF / Net Profit | — | 2.33× |
| TTM Free Cash FlowTrailing 4 quarters | $-2.0B | $461.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-802.7M | $117.0M | ||
| Q3 25 | $-199.0M | $86.5M | ||
| Q2 25 | $-163.4M | $86.6M | ||
| Q1 25 | $-215.5M | $186.0M | ||
| Q4 24 | $-677.0M | $54.2M | ||
| Q3 24 | $-160.1M | $91.5M | ||
| Q2 24 | $-115.2M | $79.9M | ||
| Q1 24 | $-88.3M | $167.5M |
| Q4 25 | $-1.2B | $113.6M | ||
| Q3 25 | $-283.9M | $82.7M | ||
| Q2 25 | $-282.4M | $81.1M | ||
| Q1 25 | $-254.3M | $183.7M | ||
| Q4 24 | $-927.8M | $51.2M | ||
| Q3 24 | $-198.1M | $89.1M | ||
| Q2 24 | $-132.4M | $73.6M | ||
| Q1 24 | $-97.4M | $162.0M |
| Q4 25 | -598.0% | 29.4% | ||
| Q3 25 | -112.5% | 21.8% | ||
| Q2 25 | -118.4% | 21.9% | ||
| Q1 25 | -118.9% | 43.6% | ||
| Q4 24 | -432.8% | 14.7% | ||
| Q3 24 | -150.5% | 26.8% | ||
| Q2 24 | -91.2% | 22.7% | ||
| Q1 24 | -59.0% | 44.2% |
| Q4 25 | 201.2% | 0.9% | ||
| Q3 25 | 33.6% | 1.0% | ||
| Q2 25 | 49.9% | 1.5% | ||
| Q1 25 | 18.2% | 0.5% | ||
| Q4 24 | 117.0% | 0.9% | ||
| Q3 24 | 28.9% | 0.7% | ||
| Q2 24 | 11.9% | 1.9% | ||
| Q1 24 | 5.5% | 1.5% |
| Q4 25 | — | 2.33× | ||
| Q3 25 | -1.62× | 1.80× | ||
| Q2 25 | -0.20× | 1.78× | ||
| Q1 25 | — | 2.03× | ||
| Q4 24 | -1.28× | 1.45× | ||
| Q3 24 | — | 1.84× | ||
| Q2 24 | — | 1.64× | ||
| Q1 24 | -0.26× | 1.96× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MARA
Segment breakdown not available.
PCTY
| Recurring Fees | $370.1M | 96% |
| Implementation Services And Other | $16.9M | 4% |
