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Side-by-side financial comparison of MARA Holdings, Inc. (MARA) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
MARA Holdings, Inc. is the larger business by last-quarter revenue ($202.3M vs $140.7M, roughly 1.4× Purple Innovation, Inc.). Purple Innovation, Inc. runs the higher net margin — -2.3% vs -14298.3%, a 14296.0% gap on every dollar of revenue. On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs -5.6%). Purple Innovation, Inc. produced more free cash flow last quarter ($-7.8M vs $-1.2B). Over the past eight quarters, MARA Holdings, Inc.'s revenue compounded faster (10.7% CAGR vs 8.3%).
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.
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
MARA vs PRPL — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $202.3M | $140.7M |
| Net Profit | $-1.7B | $-3.2M |
| Gross Margin | — | 41.9% |
| Operating Margin | -11795.9% | -1.6% |
| Net Margin | -14298.3% | -2.3% |
| Revenue YoY | -5.6% | 9.1% |
| Net Profit YoY | -423.5% | 62.1% |
| EPS (diluted) | $-4.25 | $0.03 |
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 | $140.7M | ||
| Q3 25 | $252.4M | $118.8M | ||
| Q2 25 | $238.5M | $105.1M | ||
| Q1 25 | $213.9M | $104.2M | ||
| Q4 24 | $214.4M | $129.0M | ||
| Q3 24 | $131.6M | $118.6M | ||
| Q2 24 | $145.1M | $120.3M | ||
| Q1 24 | $165.2M | $120.0M |
| Q4 25 | $-1.7B | $-3.2M | ||
| Q3 25 | $123.1M | $-11.7M | ||
| Q2 25 | $808.2M | $-17.3M | ||
| Q1 25 | $-533.4M | $-19.1M | ||
| Q4 24 | $528.5M | $-8.5M | ||
| Q3 24 | $-124.8M | $-39.2M | ||
| Q2 24 | $-199.7M | $27.0K | ||
| Q1 24 | $337.2M | $-50.2M |
| Q4 25 | — | 41.9% | ||
| Q3 25 | — | 42.8% | ||
| Q2 25 | — | 35.9% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | -2613.4% | 42.9% | ||
| Q3 24 | -1065.0% | 29.7% | ||
| Q2 24 | -587.6% | 40.7% | ||
| Q1 24 | -289.4% | 34.8% |
| Q4 25 | -11795.9% | -1.6% | ||
| Q3 25 | 18.9% | -10.2% | ||
| Q2 25 | — | -13.5% | ||
| Q1 25 | -253.0% | -13.9% | ||
| Q4 24 | — | -6.0% | ||
| Q3 24 | -130.8% | -39.5% | ||
| Q2 24 | -160.1% | -12.1% | ||
| Q1 24 | — | -19.3% |
| Q4 25 | -14298.3% | -2.3% | ||
| Q3 25 | 48.8% | -9.9% | ||
| Q2 25 | 338.9% | -16.5% | ||
| Q1 25 | -249.4% | -18.4% | ||
| Q4 24 | 5367.4% | -6.6% | ||
| Q3 24 | -94.8% | -33.1% | ||
| Q2 24 | -137.6% | 0.0% | ||
| Q1 24 | 204.1% | -41.8% |
| Q4 25 | $-4.25 | $0.03 | ||
| Q3 25 | $0.27 | $0.11 | ||
| Q2 25 | $1.84 | $0.16 | ||
| Q1 25 | $-1.55 | $0.18 | ||
| Q4 24 | $1.60 | $0.08 | ||
| Q3 24 | $-0.42 | $0.36 | ||
| Q2 24 | $-0.72 | $0.00 | ||
| Q1 24 | $1.26 | $0.47 |
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 | $24.3M |
| Total DebtLower is stronger | $3.6B | $126.7M |
| Stockholders' EquityBook value | $3.5B | $-29.7M |
| Total Assets | $7.3B | $296.3M |
| Debt / EquityLower = less leverage | 1.04× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $547.1M | $24.3M | ||
| Q3 25 | $826.4M | $32.4M | ||
| Q2 25 | $109.5M | $34.2M | ||
| Q1 25 | $196.2M | $21.6M | ||
| Q4 24 | $391.8M | $29.0M | ||
| Q3 24 | $164.3M | $23.4M | ||
| Q2 24 | $256.0M | $23.4M | ||
| Q1 24 | $324.3M | $34.5M |
| Q4 25 | $3.6B | $126.7M | ||
| Q3 25 | $3.2B | — | ||
| Q2 25 | $2.3B | — | ||
| Q1 25 | $2.3B | — | ||
| Q4 24 | $2.4B | $70.7M | ||
| Q3 24 | $618.7M | $50.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $3.5B | $-29.7M | ||
| Q3 25 | $5.2B | $-26.9M | ||
| Q2 25 | $4.8B | $-15.6M | ||
| Q1 25 | $3.7B | $1.3M | ||
| Q4 24 | $4.1B | $20.2M | ||
| Q3 24 | $2.9B | $28.0M | ||
| Q2 24 | $2.6B | $66.4M | ||
| Q1 24 | $2.5B | $65.5M |
| Q4 25 | $7.3B | $296.3M | ||
| Q3 25 | $9.2B | $302.1M | ||
| Q2 25 | $7.7B | $303.8M | ||
| Q1 25 | $6.4B | $293.8M | ||
| Q4 24 | $6.8B | $307.8M | ||
| Q3 24 | $3.6B | $309.3M | ||
| Q2 24 | $3.1B | $362.1M | ||
| Q1 24 | $3.0B | $382.1M |
| Q4 25 | 1.04× | — | ||
| Q3 25 | 0.63× | — | ||
| Q2 25 | 0.47× | — | ||
| Q1 25 | 0.62× | — | ||
| Q4 24 | 0.59× | 3.50× | ||
| Q3 24 | 0.22× | 1.82× | ||
| Q2 24 | — | — | ||
| 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 | $-5.8M |
| Free Cash FlowOCF − Capex | $-1.2B | $-7.8M |
| FCF MarginFCF / Revenue | -598.0% | -5.5% |
| Capex IntensityCapex / Revenue | 201.2% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-2.0B | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-802.7M | $-5.8M | ||
| Q3 25 | $-199.0M | $-968.0K | ||
| Q2 25 | $-163.4M | $-4.0M | ||
| Q1 25 | $-215.5M | $-23.1M | ||
| Q4 24 | $-677.0M | $6.8M | ||
| Q3 24 | $-160.1M | $1.1M | ||
| Q2 24 | $-115.2M | $-8.9M | ||
| Q1 24 | $-88.3M | $-16.8M |
| Q4 25 | $-1.2B | $-7.8M | ||
| Q3 25 | $-283.9M | $-1.8M | ||
| Q2 25 | $-282.4M | $-7.0M | ||
| Q1 25 | $-254.3M | $-25.3M | ||
| Q4 24 | $-927.8M | $5.7M | ||
| Q3 24 | $-198.1M | $101.0K | ||
| Q2 24 | $-132.4M | $-11.0M | ||
| Q1 24 | $-97.4M | $-19.9M |
| Q4 25 | -598.0% | -5.5% | ||
| Q3 25 | -112.5% | -1.5% | ||
| Q2 25 | -118.4% | -6.6% | ||
| Q1 25 | -118.9% | -24.3% | ||
| Q4 24 | -432.8% | 4.4% | ||
| Q3 24 | -150.5% | 0.1% | ||
| Q2 24 | -91.2% | -9.2% | ||
| Q1 24 | -59.0% | -16.5% |
| Q4 25 | 201.2% | 1.4% | ||
| Q3 25 | 33.6% | 0.7% | ||
| Q2 25 | 49.9% | 2.8% | ||
| Q1 25 | 18.2% | 2.2% | ||
| Q4 24 | 117.0% | 0.8% | ||
| Q3 24 | 28.9% | 0.9% | ||
| Q2 24 | 11.9% | 1.7% | ||
| Q1 24 | 5.5% | 2.5% |
| Q4 25 | — | — | ||
| Q3 25 | -1.62× | — | ||
| Q2 25 | -0.20× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -1.28× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -330.22× | ||
| Q1 24 | -0.26× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MARA
Segment breakdown not available.
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
