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Side-by-side financial comparison of Merchants Bancorp (MBIN) and PicoCELA Inc. (PCLA). Click either name above to swap in a different company.
PicoCELA Inc. is the larger business by last-quarter revenue ($252.6M vs $175.2M, roughly 1.4× Merchants Bancorp). Merchants Bancorp runs the higher net margin — 38.6% vs -125.2%, a 163.8% gap on every dollar of revenue.
Ameris Bancorp is an American bank holding company headquartered in Atlanta, Georgia. Through its bank subsidiary, Ameris Bank, the company operates full-service branches in Georgia, Alabama, Florida, North Carolina and South Carolina, and mortgage-only locations in Georgia, Alabama, Florida, North Carolina, South Carolina, Virginia, Maryland, and Tennessee. The company offers online and mobile banking options for both consumers and businesses.
PicoCELA Inc. is a global technology company specializing in low-power, high-reliability wireless connectivity solutions, including Wi-Fi HaLow modules and edge network infrastructure. It caters to industrial IoT, smart city, retail, and smart home segments, with a primary operational footprint across Asia, North America, and European markets.
MBIN vs PCLA — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2025
| Metric | | |
|---|---|---|
| Revenue | $175.2M | $252.6M |
| Net Profit | $67.7M | $-316.2M |
| Gross Margin | — | — |
| Operating Margin | — | -114.8% |
| Net Margin | 38.6% | -125.2% |
| Revenue YoY | — | — |
| Net Profit YoY | 16.3% | — |
| EPS (diluted) | $1.25 | — |
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.
| Q1 26 | $175.2M | — | ||
| Q4 25 | $185.3M | — | ||
| Q3 25 | $171.1M | — | ||
| Q2 25 | $179.2M | — | ||
| Q1 25 | $145.9M | $252.6M | ||
| Q4 24 | $193.8M | — | ||
| Q3 24 | $149.6M | — | ||
| Q2 24 | $159.5M | — |
| Q1 26 | $67.7M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | $54.7M | — | ||
| Q2 25 | $38.0M | — | ||
| Q1 25 | $58.2M | $-316.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | $61.3M | — | ||
| Q2 24 | $76.4M | — |
| Q1 26 | — | — | ||
| Q4 25 | 39.9% | — | ||
| Q3 25 | 37.8% | — | ||
| Q2 25 | 27.3% | — | ||
| Q1 25 | 52.4% | -114.8% | ||
| Q4 24 | 66.0% | — | ||
| Q3 24 | 54.4% | — | ||
| Q2 24 | 62.2% | — |
| Q1 26 | 38.6% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 32.0% | — | ||
| Q2 25 | 21.2% | — | ||
| Q1 25 | 39.9% | -125.2% | ||
| Q4 24 | — | — | ||
| Q3 24 | 41.0% | — | ||
| Q2 24 | 47.9% | — |
| Q1 26 | $1.25 | — | ||
| Q4 25 | $1.28 | — | ||
| Q3 25 | $0.97 | — | ||
| Q2 25 | $0.60 | — | ||
| Q1 25 | $0.93 | — | ||
| Q4 24 | $1.84 | — | ||
| Q3 24 | $1.17 | — | ||
| Q2 24 | $1.49 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $83.2M | $456.8M |
| Total DebtLower is stronger | $32.0M | — |
| Stockholders' EquityBook value | $2.3B | $354.8M |
| Total Assets | $20.3B | $1.2B |
| Debt / EquityLower = less leverage | 0.01× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $83.2M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $456.8M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $32.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | — | ||
| Q3 25 | $2.2B | — | ||
| Q2 25 | $2.2B | — | ||
| Q1 25 | $2.2B | $354.8M | ||
| Q4 24 | $2.2B | — | ||
| Q3 24 | $1.9B | — | ||
| Q2 24 | $1.9B | — |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $19.4B | — | ||
| Q3 25 | $19.4B | — | ||
| Q2 25 | $19.1B | — | ||
| Q1 25 | $18.8B | $1.2B | ||
| Q4 24 | $18.8B | — | ||
| Q3 24 | $18.7B | — | ||
| Q2 24 | $18.2B | — |
| Q1 26 | 0.01× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 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 | — | $-245.6M |
| Free Cash FlowOCF − Capex | — | $-256.6M |
| FCF MarginFCF / Revenue | — | -101.6% |
| Capex IntensityCapex / Revenue | — | 4.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-341.2M | — | ||
| Q3 25 | $29.8M | — | ||
| Q2 25 | $-121.2M | — | ||
| Q1 25 | $148.0M | $-245.6M | ||
| Q4 24 | $-835.3M | — | ||
| Q3 24 | $-492.6M | — | ||
| Q2 24 | $51.1M | — |
| Q1 26 | — | — | ||
| Q4 25 | $-362.2M | — | ||
| Q3 25 | $24.0M | — | ||
| Q2 25 | $-125.7M | — | ||
| Q1 25 | $141.2M | $-256.6M | ||
| Q4 24 | $-853.7M | — | ||
| Q3 24 | $-497.2M | — | ||
| Q2 24 | $45.8M | — |
| Q1 26 | — | — | ||
| Q4 25 | -195.5% | — | ||
| Q3 25 | 14.0% | — | ||
| Q2 25 | -70.1% | — | ||
| Q1 25 | 96.8% | -101.6% | ||
| Q4 24 | -440.6% | — | ||
| Q3 24 | -332.4% | — | ||
| Q2 24 | 28.7% | — |
| Q1 26 | — | — | ||
| Q4 25 | 11.3% | — | ||
| Q3 25 | 3.4% | — | ||
| Q2 25 | 2.5% | — | ||
| Q1 25 | 4.7% | 4.3% | ||
| Q4 24 | 9.5% | — | ||
| Q3 24 | 3.0% | — | ||
| Q2 24 | 3.3% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | 0.54× | — | ||
| Q2 25 | -3.19× | — | ||
| Q1 25 | 2.54× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | -8.04× | — | ||
| Q2 24 | 0.67× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MBIN
| Net Interest Income | $128.6M | 73% |
| Noninterest Income | $46.6M | 27% |
PCLA
| Revenue from product | $179.1M | 71% |
| Revenue from SaaS, Maintenance and others | $42.4M | 17% |
| Revenue from product – related party | $31.0M | 12% |
