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Side-by-side financial comparison of Merchants Bancorp (MBIN) and Purple Innovation, Inc. (PRPL). Click either name above to swap in a different company.
Merchants Bancorp is the larger business by last-quarter revenue ($175.2M vs $140.7M, roughly 1.2× Purple Innovation, Inc.). Merchants Bancorp runs the higher net margin — 38.6% vs -2.3%, a 40.9% gap on every dollar of revenue. Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% CAGR vs 4.8%).
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.
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.”
MBIN vs PRPL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $175.2M | $140.7M |
| Net Profit | $67.7M | $-3.2M |
| Gross Margin | — | 41.9% |
| Operating Margin | — | -1.6% |
| Net Margin | 38.6% | -2.3% |
| Revenue YoY | — | 9.1% |
| Net Profit YoY | 16.3% | 62.1% |
| EPS (diluted) | $1.25 | $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.
| Q1 26 | $175.2M | — | ||
| Q4 25 | $185.3M | $140.7M | ||
| Q3 25 | $171.1M | $118.8M | ||
| Q2 25 | $179.2M | $105.1M | ||
| Q1 25 | $145.9M | $104.2M | ||
| Q4 24 | $193.8M | $129.0M | ||
| Q3 24 | $149.6M | $118.6M | ||
| Q2 24 | $159.5M | $120.3M |
| Q1 26 | $67.7M | — | ||
| Q4 25 | — | $-3.2M | ||
| Q3 25 | $54.7M | $-11.7M | ||
| Q2 25 | $38.0M | $-17.3M | ||
| Q1 25 | $58.2M | $-19.1M | ||
| Q4 24 | — | $-8.5M | ||
| Q3 24 | $61.3M | $-39.2M | ||
| Q2 24 | $76.4M | $27.0K |
| Q1 26 | — | — | ||
| Q4 25 | — | 41.9% | ||
| Q3 25 | — | 42.8% | ||
| Q2 25 | — | 35.9% | ||
| Q1 25 | — | 39.4% | ||
| Q4 24 | — | 42.9% | ||
| Q3 24 | — | 29.7% | ||
| Q2 24 | — | 40.7% |
| Q1 26 | — | — | ||
| Q4 25 | 39.9% | -1.6% | ||
| Q3 25 | 37.8% | -10.2% | ||
| Q2 25 | 27.3% | -13.5% | ||
| Q1 25 | 52.4% | -13.9% | ||
| Q4 24 | 66.0% | -6.0% | ||
| Q3 24 | 54.4% | -39.5% | ||
| Q2 24 | 62.2% | -12.1% |
| Q1 26 | 38.6% | — | ||
| Q4 25 | — | -2.3% | ||
| Q3 25 | 32.0% | -9.9% | ||
| Q2 25 | 21.2% | -16.5% | ||
| Q1 25 | 39.9% | -18.4% | ||
| Q4 24 | — | -6.6% | ||
| Q3 24 | 41.0% | -33.1% | ||
| Q2 24 | 47.9% | 0.0% |
| Q1 26 | $1.25 | — | ||
| Q4 25 | $1.28 | $0.03 | ||
| Q3 25 | $0.97 | $0.11 | ||
| Q2 25 | $0.60 | $0.16 | ||
| Q1 25 | $0.93 | $0.18 | ||
| Q4 24 | $1.84 | $0.08 | ||
| Q3 24 | $1.17 | $0.36 | ||
| Q2 24 | $1.49 | $0.00 |
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 | $24.3M |
| Total DebtLower is stronger | $32.0M | $126.7M |
| Stockholders' EquityBook value | $2.3B | $-29.7M |
| Total Assets | $20.3B | $296.3M |
| Debt / EquityLower = less leverage | 0.01× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $83.2M | — | ||
| Q4 25 | — | $24.3M | ||
| Q3 25 | — | $32.4M | ||
| Q2 25 | — | $34.2M | ||
| Q1 25 | — | $21.6M | ||
| Q4 24 | — | $29.0M | ||
| Q3 24 | — | $23.4M | ||
| Q2 24 | — | $23.4M |
| Q1 26 | $32.0M | — | ||
| Q4 25 | — | $126.7M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $70.7M | ||
| Q3 24 | — | $50.8M | ||
| Q2 24 | — | — |
| Q1 26 | $2.3B | — | ||
| Q4 25 | $2.3B | $-29.7M | ||
| Q3 25 | $2.2B | $-26.9M | ||
| Q2 25 | $2.2B | $-15.6M | ||
| Q1 25 | $2.2B | $1.3M | ||
| Q4 24 | $2.2B | $20.2M | ||
| Q3 24 | $1.9B | $28.0M | ||
| Q2 24 | $1.9B | $66.4M |
| Q1 26 | $20.3B | — | ||
| Q4 25 | $19.4B | $296.3M | ||
| Q3 25 | $19.4B | $302.1M | ||
| Q2 25 | $19.1B | $303.8M | ||
| Q1 25 | $18.8B | $293.8M | ||
| Q4 24 | $18.8B | $307.8M | ||
| Q3 24 | $18.7B | $309.3M | ||
| Q2 24 | $18.2B | $362.1M |
| Q1 26 | 0.01× | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 3.50× | ||
| Q3 24 | — | 1.82× | ||
| 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 | — | $-5.8M |
| Free Cash FlowOCF − Capex | — | $-7.8M |
| FCF MarginFCF / Revenue | — | -5.5% |
| Capex IntensityCapex / Revenue | — | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-41.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-341.2M | $-5.8M | ||
| Q3 25 | $29.8M | $-968.0K | ||
| Q2 25 | $-121.2M | $-4.0M | ||
| Q1 25 | $148.0M | $-23.1M | ||
| Q4 24 | $-835.3M | $6.8M | ||
| Q3 24 | $-492.6M | $1.1M | ||
| Q2 24 | $51.1M | $-8.9M |
| Q1 26 | — | — | ||
| Q4 25 | $-362.2M | $-7.8M | ||
| Q3 25 | $24.0M | $-1.8M | ||
| Q2 25 | $-125.7M | $-7.0M | ||
| Q1 25 | $141.2M | $-25.3M | ||
| Q4 24 | $-853.7M | $5.7M | ||
| Q3 24 | $-497.2M | $101.0K | ||
| Q2 24 | $45.8M | $-11.0M |
| Q1 26 | — | — | ||
| Q4 25 | -195.5% | -5.5% | ||
| Q3 25 | 14.0% | -1.5% | ||
| Q2 25 | -70.1% | -6.6% | ||
| Q1 25 | 96.8% | -24.3% | ||
| Q4 24 | -440.6% | 4.4% | ||
| Q3 24 | -332.4% | 0.1% | ||
| Q2 24 | 28.7% | -9.2% |
| Q1 26 | — | — | ||
| Q4 25 | 11.3% | 1.4% | ||
| Q3 25 | 3.4% | 0.7% | ||
| Q2 25 | 2.5% | 2.8% | ||
| Q1 25 | 4.7% | 2.2% | ||
| Q4 24 | 9.5% | 0.8% | ||
| Q3 24 | 3.0% | 0.9% | ||
| Q2 24 | 3.3% | 1.7% |
| 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× | -330.22× |
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% |
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
