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Side-by-side financial comparison of OLAPLEX HOLDINGS, INC. (OLPX) and SPS COMMERCE INC (SPSC). Click either name above to swap in a different company.
SPS COMMERCE INC is the larger business by last-quarter revenue ($192.7M vs $105.1M, roughly 1.8× OLAPLEX HOLDINGS, INC.). SPS COMMERCE INC runs the higher net margin — 13.4% vs -12.5%, a 25.9% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs 4.3%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $32.6M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs 3.1%).
Olaplex Holdings, Inc. is a specialty beauty company developing and selling patented bond-repair hair care products. It runs three core segments: professional salon distribution, direct-to-consumer sales, and third-party retail, serving customers across North America, Europe, and Asia-Pacific with products that repair and protect damaged hair.
SPS Commerce, Inc. is a technology and application software company based in the United States that provides cloud-based supply chain management software. The company's headquarters are located in Minneapolis, Minnesota, but it also has a US office in New Jersey, and international locations in Amsterdam, Beijing, Breukelen, Hong Kong, Kyiv, Melbourne, Montpellier, Sydney, and Toronto.
OLPX vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $105.1M | $192.7M |
| Net Profit | $-13.1M | $25.8M |
| Gross Margin | 68.0% | 70.4% |
| Operating Margin | -4.3% | 18.0% |
| Net Margin | -12.5% | 13.4% |
| Revenue YoY | 4.3% | 12.7% |
| Net Profit YoY | -48.9% | 47.2% |
| EPS (diluted) | $-0.02 | $0.69 |
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 | $105.1M | $192.7M | ||
| Q3 25 | $114.6M | $189.9M | ||
| Q2 25 | $106.3M | $187.4M | ||
| Q1 25 | $97.0M | $181.5M | ||
| Q4 24 | $100.7M | $170.9M | ||
| Q3 24 | $119.1M | $163.7M | ||
| Q2 24 | $103.9M | $153.6M | ||
| Q1 24 | $98.9M | $149.6M |
| Q4 25 | $-13.1M | $25.8M | ||
| Q3 25 | $11.1M | $25.6M | ||
| Q2 25 | $-7.7M | $19.7M | ||
| Q1 25 | $465.0K | $22.2M | ||
| Q4 24 | $-8.8M | $17.6M | ||
| Q3 24 | $14.8M | $23.5M | ||
| Q2 24 | $5.8M | $18.0M | ||
| Q1 24 | $7.7M | $18.0M |
| Q4 25 | 68.0% | 70.4% | ||
| Q3 25 | 69.1% | 69.5% | ||
| Q2 25 | 71.2% | 68.1% | ||
| Q1 25 | 69.5% | 68.7% | ||
| Q4 24 | 66.3% | 67.5% | ||
| Q3 24 | 68.6% | 68.5% | ||
| Q2 24 | 69.7% | 66.1% | ||
| Q1 24 | 72.1% | 65.6% |
| Q4 25 | -4.3% | 18.0% | ||
| Q3 25 | 3.7% | 16.4% | ||
| Q2 25 | -1.1% | 14.1% | ||
| Q1 25 | 8.7% | 14.3% | ||
| Q4 24 | 3.0% | 14.5% | ||
| Q3 24 | 23.5% | 15.6% | ||
| Q2 24 | 15.7% | 15.1% | ||
| Q1 24 | 19.8% | 10.3% |
| Q4 25 | -12.5% | 13.4% | ||
| Q3 25 | 9.7% | 13.5% | ||
| Q2 25 | -7.3% | 10.5% | ||
| Q1 25 | 0.5% | 12.2% | ||
| Q4 24 | -8.7% | 10.3% | ||
| Q3 24 | 12.4% | 14.3% | ||
| Q2 24 | 5.6% | 11.7% | ||
| Q1 24 | 7.8% | 12.0% |
| Q4 25 | $-0.02 | $0.69 | ||
| Q3 25 | $0.02 | $0.67 | ||
| Q2 25 | $-0.01 | $0.52 | ||
| Q1 25 | $0.00 | $0.58 | ||
| Q4 24 | $-0.01 | $0.46 | ||
| Q3 24 | $0.02 | $0.62 | ||
| Q2 24 | $0.01 | $0.48 | ||
| Q1 24 | $0.01 | $0.48 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $318.7M | $151.4M |
| Total DebtLower is stronger | $352.3M | — |
| Stockholders' EquityBook value | $879.4M | $973.9M |
| Total Assets | $1.5B | $1.2B |
| Debt / EquityLower = less leverage | 0.40× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $318.7M | $151.4M | ||
| Q3 25 | $286.4M | $133.7M | ||
| Q2 25 | $289.3M | $107.6M | ||
| Q1 25 | $580.9M | $94.9M | ||
| Q4 24 | $586.0M | $241.0M | ||
| Q3 24 | $538.8M | $205.8M | ||
| Q2 24 | $507.9M | $271.8M | ||
| Q1 24 | $507.5M | $290.8M |
| Q4 25 | $352.3M | — | ||
| Q3 25 | $352.1M | — | ||
| Q2 25 | $351.9M | — | ||
| Q1 25 | $649.1M | — | ||
| Q4 24 | $650.5M | — | ||
| Q3 24 | $651.8M | — | ||
| Q2 24 | $653.1M | — | ||
| Q1 24 | $654.4M | — |
| Q4 25 | $879.4M | $973.9M | ||
| Q3 25 | $888.7M | $958.9M | ||
| Q2 25 | $874.2M | $949.8M | ||
| Q1 25 | $878.3M | $920.9M | ||
| Q4 24 | $874.4M | $854.7M | ||
| Q3 24 | $879.7M | $829.4M | ||
| Q2 24 | $863.3M | $703.4M | ||
| Q1 24 | $855.7M | $683.0M |
| Q4 25 | $1.5B | $1.2B | ||
| Q3 25 | $1.5B | $1.2B | ||
| Q2 25 | $1.5B | $1.1B | ||
| Q1 25 | $1.8B | $1.1B | ||
| Q4 24 | $1.8B | $1.0B | ||
| Q3 24 | $1.8B | $1.0B | ||
| Q2 24 | $1.8B | $854.5M | ||
| Q1 24 | $1.8B | $839.8M |
| Q4 25 | 0.40× | — | ||
| Q3 25 | 0.40× | — | ||
| Q2 25 | 0.40× | — | ||
| Q1 25 | 0.74× | — | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | 0.74× | — | ||
| Q2 24 | 0.76× | — | ||
| Q1 24 | 0.76× | — |
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 | $32.7M | $45.9M |
| Free Cash FlowOCF − Capex | $32.6M | $38.2M |
| FCF MarginFCF / Revenue | 31.0% | 19.8% |
| Capex IntensityCapex / Revenue | 0.1% | 4.0% |
| Cash ConversionOCF / Net Profit | — | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $58.3M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $32.7M | $45.9M | ||
| Q3 25 | $8.0M | $60.6M | ||
| Q2 25 | $20.9M | $32.3M | ||
| Q1 25 | $-2.9M | $40.0M | ||
| Q4 24 | $49.7M | $40.6M | ||
| Q3 24 | $33.5M | $53.3M | ||
| Q2 24 | $16.2M | $29.4M | ||
| Q1 24 | $43.7M | $34.1M |
| Q4 25 | $32.6M | $38.2M | ||
| Q3 25 | $7.9M | $54.6M | ||
| Q2 25 | $20.8M | $25.7M | ||
| Q1 25 | $-3.0M | $33.8M | ||
| Q4 24 | $49.2M | $34.3M | ||
| Q3 24 | $33.3M | $48.1M | ||
| Q2 24 | $16.1M | $24.4M | ||
| Q1 24 | $43.3M | $30.5M |
| Q4 25 | 31.0% | 19.8% | ||
| Q3 25 | 6.9% | 28.7% | ||
| Q2 25 | 19.6% | 13.7% | ||
| Q1 25 | -3.1% | 18.6% | ||
| Q4 24 | 48.9% | 20.1% | ||
| Q3 24 | 28.0% | 29.4% | ||
| Q2 24 | 15.5% | 15.9% | ||
| Q1 24 | 43.7% | 20.4% |
| Q4 25 | 0.1% | 4.0% | ||
| Q3 25 | 0.1% | 3.2% | ||
| Q2 25 | 0.1% | 3.6% | ||
| Q1 25 | 0.0% | 3.4% | ||
| Q4 24 | 0.4% | 3.6% | ||
| Q3 24 | 0.1% | 3.2% | ||
| Q2 24 | 0.1% | 3.3% | ||
| Q1 24 | 0.5% | 2.4% |
| Q4 25 | — | 1.78× | ||
| Q3 25 | 0.72× | 2.37× | ||
| Q2 25 | — | 1.64× | ||
| Q1 25 | -6.27× | 1.80× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | 2.26× | 2.27× | ||
| Q2 24 | 2.81× | 1.63× | ||
| Q1 24 | 5.64× | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OLPX
| Sales Channel Directly To Consumer | $43.6M | 42% |
| Sales Channel Through Intermediary Professional | $36.8M | 35% |
| Sales Channel Through Intermediary Specialty Retail | $24.7M | 23% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
