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Side-by-side financial comparison of OPKO HEALTH, INC. (OPK) 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 $148.5M, roughly 1.3× OPKO HEALTH, INC.). SPS COMMERCE INC runs the higher net margin — 13.4% vs -21.1%, a 34.5% gap on every dollar of revenue. On growth, SPS COMMERCE INC posted the faster year-over-year revenue change (12.7% vs -19.2%). SPS COMMERCE INC produced more free cash flow last quarter ($38.2M vs $-28.6M). Over the past eight quarters, SPS COMMERCE INC's revenue compounded faster (13.5% CAGR vs -7.5%).
OPKO Health, Inc. is a medical test and medication company focused on diagnostics and pharmaceuticals. The company is a publicly traded company on NASDAQ and TASE under the symbol "OPK".
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.
OPK vs SPSC — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $148.5M | $192.7M |
| Net Profit | $-31.3M | $25.8M |
| Gross Margin | 43.1% | 70.4% |
| Operating Margin | -25.8% | 18.0% |
| Net Margin | -21.1% | 13.4% |
| Revenue YoY | -19.2% | 12.7% |
| Net Profit YoY | -322.8% | 47.2% |
| EPS (diluted) | $-0.04 | $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 | $148.5M | $192.7M | ||
| Q3 25 | $151.7M | $189.9M | ||
| Q2 25 | $156.8M | $187.4M | ||
| Q1 25 | $150.0M | $181.5M | ||
| Q4 24 | $183.6M | $170.9M | ||
| Q3 24 | $173.6M | $163.7M | ||
| Q2 24 | $182.2M | $153.6M | ||
| Q1 24 | $173.7M | $149.6M |
| Q4 25 | $-31.3M | $25.8M | ||
| Q3 25 | $21.6M | $25.6M | ||
| Q2 25 | $-148.4M | $19.7M | ||
| Q1 25 | $-67.6M | $22.2M | ||
| Q4 24 | $14.0M | $17.6M | ||
| Q3 24 | $24.9M | $23.5M | ||
| Q2 24 | $-10.3M | $18.0M | ||
| Q1 24 | $-81.8M | $18.0M |
| Q4 25 | 43.1% | 70.4% | ||
| Q3 25 | 32.9% | 69.5% | ||
| Q2 25 | 31.5% | 68.1% | ||
| Q1 25 | 28.4% | 68.7% | ||
| Q4 24 | 46.1% | 67.5% | ||
| Q3 24 | 23.1% | 68.5% | ||
| Q2 24 | 28.4% | 66.1% | ||
| Q1 24 | 24.2% | 65.6% |
| Q4 25 | -25.8% | 18.0% | ||
| Q3 25 | 31.7% | 16.4% | ||
| Q2 25 | -38.3% | 14.1% | ||
| Q1 25 | -44.8% | 14.3% | ||
| Q4 24 | -18.0% | 14.5% | ||
| Q3 24 | 8.2% | 15.6% | ||
| Q2 24 | -33.9% | 15.1% | ||
| Q1 24 | -41.2% | 10.3% |
| Q4 25 | -21.1% | 13.4% | ||
| Q3 25 | 14.3% | 13.5% | ||
| Q2 25 | -94.7% | 10.5% | ||
| Q1 25 | -45.1% | 12.2% | ||
| Q4 24 | 7.6% | 10.3% | ||
| Q3 24 | 14.3% | 14.3% | ||
| Q2 24 | -5.7% | 11.7% | ||
| Q1 24 | -47.1% | 12.0% |
| Q4 25 | $-0.04 | $0.69 | ||
| Q3 25 | $0.03 | $0.67 | ||
| Q2 25 | $-0.19 | $0.52 | ||
| Q1 25 | $-0.10 | $0.58 | ||
| Q4 24 | $0.02 | $0.46 | ||
| Q3 24 | $0.03 | $0.62 | ||
| Q2 24 | $-0.01 | $0.48 | ||
| Q1 24 | $-0.12 | $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 | $364.4M | $151.4M |
| Total DebtLower is stronger | $344.0M | — |
| Stockholders' EquityBook value | $1.3B | $973.9M |
| Total Assets | $1.9B | $1.2B |
| Debt / EquityLower = less leverage | 0.27× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $364.4M | $151.4M | ||
| Q3 25 | $412.0M | $133.7M | ||
| Q2 25 | $267.3M | $107.6M | ||
| Q1 25 | $428.8M | $94.9M | ||
| Q4 24 | $426.6M | $241.0M | ||
| Q3 24 | $400.1M | $205.8M | ||
| Q2 24 | $40.6M | $271.8M | ||
| Q1 24 | $75.6M | $290.8M |
| Q4 25 | $344.0M | — | ||
| Q3 25 | $344.2M | — | ||
| Q2 25 | $343.3M | — | ||
| Q1 25 | $439.2M | — | ||
| Q4 24 | $437.2M | — | ||
| Q3 24 | $441.0M | — | ||
| Q2 24 | $201.9M | — | ||
| Q1 24 | $350.1M | — |
| Q4 25 | $1.3B | $973.9M | ||
| Q3 25 | $1.3B | $958.9M | ||
| Q2 25 | $1.3B | $949.8M | ||
| Q1 25 | $1.3B | $920.9M | ||
| Q4 24 | $1.4B | $854.7M | ||
| Q3 24 | $1.4B | $829.4M | ||
| Q2 24 | $1.4B | $703.4M | ||
| Q1 24 | $1.3B | $683.0M |
| Q4 25 | $1.9B | $1.2B | ||
| Q3 25 | $2.0B | $1.2B | ||
| Q2 25 | $2.0B | $1.1B | ||
| Q1 25 | $2.1B | $1.1B | ||
| Q4 24 | $2.2B | $1.0B | ||
| Q3 24 | $2.3B | $1.0B | ||
| Q2 24 | $2.0B | $854.5M | ||
| Q1 24 | $2.0B | $839.8M |
| Q4 25 | 0.27× | — | ||
| Q3 25 | 0.26× | — | ||
| Q2 25 | 0.26× | — | ||
| Q1 25 | 0.33× | — | ||
| Q4 24 | 0.32× | — | ||
| Q3 24 | 0.31× | — | ||
| Q2 24 | 0.14× | — | ||
| Q1 24 | 0.28× | — |
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 | $-25.9M | $45.9M |
| Free Cash FlowOCF − Capex | $-28.6M | $38.2M |
| FCF MarginFCF / Revenue | -19.3% | 19.8% |
| Capex IntensityCapex / Revenue | 1.8% | 4.0% |
| Cash ConversionOCF / Net Profit | — | 1.78× |
| TTM Free Cash FlowTrailing 4 quarters | $-190.8M | $152.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-25.9M | $45.9M | ||
| Q3 25 | $-34.6M | $60.6M | ||
| Q2 25 | $-83.4M | $32.3M | ||
| Q1 25 | $-34.6M | $40.0M | ||
| Q4 24 | $-44.4M | $40.6M | ||
| Q3 24 | $-77.1M | $53.3M | ||
| Q2 24 | $-26.4M | $29.4M | ||
| Q1 24 | $-35.6M | $34.1M |
| Q4 25 | $-28.6M | $38.2M | ||
| Q3 25 | $-37.8M | $54.6M | ||
| Q2 25 | $-86.7M | $25.7M | ||
| Q1 25 | $-37.7M | $33.8M | ||
| Q4 24 | $-49.8M | $34.3M | ||
| Q3 24 | $-85.0M | $48.1M | ||
| Q2 24 | $-33.7M | $24.4M | ||
| Q1 24 | $-40.0M | $30.5M |
| Q4 25 | -19.3% | 19.8% | ||
| Q3 25 | -24.9% | 28.7% | ||
| Q2 25 | -55.3% | 13.7% | ||
| Q1 25 | -25.2% | 18.6% | ||
| Q4 24 | -27.1% | 20.1% | ||
| Q3 24 | -49.0% | 29.4% | ||
| Q2 24 | -18.5% | 15.9% | ||
| Q1 24 | -23.0% | 20.4% |
| Q4 25 | 1.8% | 4.0% | ||
| Q3 25 | 2.1% | 3.2% | ||
| Q2 25 | 2.1% | 3.6% | ||
| Q1 25 | 2.1% | 3.4% | ||
| Q4 24 | 2.9% | 3.6% | ||
| Q3 24 | 4.6% | 3.2% | ||
| Q2 24 | 4.0% | 3.3% | ||
| Q1 24 | 2.6% | 2.4% |
| Q4 25 | — | 1.78× | ||
| Q3 25 | -1.60× | 2.37× | ||
| Q2 25 | — | 1.64× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | -3.17× | 2.31× | ||
| Q3 24 | -3.10× | 2.27× | ||
| Q2 24 | — | 1.63× | ||
| Q1 24 | — | 1.89× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OPK
| Services | $71.1M | 48% |
| Transfer Of Intellectual Property And Other | $33.7M | 23% |
| IE | $22.1M | 15% |
| Rayaldee | $8.8M | 6% |
| Barda Agreement | $6.8M | 5% |
| MX | $6.3M | 4% |
SPSC
| Recurring Revenues | $184.5M | 96% |
| One Time Revenues | $8.1M | 4% |
| Set Up Fees | $4.1M | 2% |
