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Side-by-side financial comparison of Perma-Pipe International Holdings, Inc. (PPIH) and Viridian Therapeutics, Inc.\DE (VRDN). Click either name above to swap in a different company.
Viridian Therapeutics, Inc.\DE is the larger business by last-quarter revenue ($70.6M vs $61.1M, roughly 1.2× Perma-Pipe International Holdings, Inc.). Perma-Pipe International Holdings, Inc. runs the higher net margin — 10.3% vs -49.0%, a 59.4% gap on every dollar of revenue. On growth, Viridian Therapeutics, Inc.\DE posted the faster year-over-year revenue change (81958.1% vs 47.1%). Perma-Pipe International Holdings, Inc. produced more free cash flow last quarter ($12.4M vs $-84.7M).
Perma-Pipe International Holdings, Inc. designs, manufactures and supplies pre-insulated piping systems and integrated leak detection solutions. Its offerings cater to oil & gas, district heating and cooling, industrial, and municipal infrastructure segments, with a global footprint spanning North America, the Middle East, Europe and Asia.
Viridian Therapeutics is a clinical-stage biotechnology firm developing novel disease-modifying therapies for rare, serious autoimmune and inflammatory diseases. Its lead pipeline candidate targets thyroid eye disease, a debilitating orbital disorder, with primary market focus on North America and Europe.
PPIH vs VRDN — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $61.1M | $70.6M |
| Net Profit | $6.3M | $-34.6M |
| Gross Margin | 34.4% | — |
| Operating Margin | 18.6% | -56.7% |
| Net Margin | 10.3% | -49.0% |
| Revenue YoY | 47.1% | 81958.1% |
| Net Profit YoY | 153.5% | 54.9% |
| EPS (diluted) | $0.77 | — |
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 | $61.1M | — | ||
| Q3 25 | $47.9M | $70.6M | ||
| Q2 25 | $46.7M | — | ||
| Q1 25 | $45.0M | — | ||
| Q4 24 | $41.6M | — | ||
| Q3 24 | $37.5M | — | ||
| Q2 24 | $34.3M | — | ||
| Q1 24 | $40.2M | — |
| Q4 25 | $6.3M | — | ||
| Q3 25 | $851.0K | $-34.6M | ||
| Q2 25 | $5.0M | — | ||
| Q1 25 | $1.8M | — | ||
| Q4 24 | $2.5M | — | ||
| Q3 24 | $3.3M | — | ||
| Q2 24 | $1.4M | — | ||
| Q1 24 | $8.6M | — |
| Q4 25 | 34.4% | — | ||
| Q3 25 | 30.1% | — | ||
| Q2 25 | 35.8% | — | ||
| Q1 25 | 33.7% | — | ||
| Q4 24 | 33.9% | — | ||
| Q3 24 | 35.9% | — | ||
| Q2 24 | 30.6% | — | ||
| Q1 24 | 30.0% | — |
| Q4 25 | 18.6% | — | ||
| Q3 25 | 6.7% | -56.7% | ||
| Q2 25 | 16.9% | — | ||
| Q1 25 | 12.1% | — | ||
| Q4 24 | 13.4% | — | ||
| Q3 24 | 16.4% | — | ||
| Q2 24 | 9.1% | — | ||
| Q1 24 | 11.3% | — |
| Q4 25 | 10.3% | — | ||
| Q3 25 | 1.8% | -49.0% | ||
| Q2 25 | 10.6% | — | ||
| Q1 25 | 3.9% | — | ||
| Q4 24 | 6.0% | — | ||
| Q3 24 | 8.8% | — | ||
| Q2 24 | 4.2% | — | ||
| Q1 24 | 21.5% | — |
| Q4 25 | $0.77 | — | ||
| Q3 25 | $0.10 | — | ||
| Q2 25 | $0.61 | — | ||
| Q1 25 | $0.23 | — | ||
| Q4 24 | $0.31 | — | ||
| Q3 24 | $0.40 | — | ||
| Q2 24 | $0.18 | — | ||
| Q1 24 | $1.07 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $27.2M | $490.9M |
| Total DebtLower is stronger | $12.7M | — |
| Stockholders' EquityBook value | $85.8M | $503.0M |
| Total Assets | $217.0M | $577.1M |
| Debt / EquityLower = less leverage | 0.15× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.2M | — | ||
| Q3 25 | $17.3M | $490.9M | ||
| Q2 25 | $18.8M | — | ||
| Q1 25 | $15.7M | — | ||
| Q4 24 | $13.3M | — | ||
| Q3 24 | $9.5M | — | ||
| Q2 24 | $7.7M | — | ||
| Q1 24 | $5.8M | — |
| Q4 25 | $12.7M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | $15.2M | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $15.2M | — |
| Q4 25 | $85.8M | — | ||
| Q3 25 | $80.2M | $503.0M | ||
| Q2 25 | $77.9M | — | ||
| Q1 25 | $72.1M | — | ||
| Q4 24 | $71.2M | — | ||
| Q3 24 | $68.6M | — | ||
| Q2 24 | $65.5M | — | ||
| Q1 24 | $65.7M | — |
| Q4 25 | $217.0M | — | ||
| Q3 25 | $189.0M | $577.1M | ||
| Q2 25 | $178.3M | — | ||
| Q1 25 | $165.2M | — | ||
| Q4 24 | $160.7M | — | ||
| Q3 24 | $157.8M | — | ||
| Q2 24 | $155.7M | — | ||
| Q1 24 | $155.7M | — |
| Q4 25 | 0.15× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.21× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.23× | — |
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 | $17.3M | $-84.6M |
| Free Cash FlowOCF − Capex | $12.4M | $-84.7M |
| FCF MarginFCF / Revenue | 20.2% | -120.1% |
| Capex IntensityCapex / Revenue | 8.1% | 0.2% |
| Cash ConversionOCF / Net Profit | 2.74× | — |
| TTM Free Cash FlowTrailing 4 quarters | $12.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $17.3M | — | ||
| Q3 25 | $-2.0M | $-84.6M | ||
| Q2 25 | $733.0K | — | ||
| Q1 25 | $6.0M | — | ||
| Q4 24 | $5.2M | — | ||
| Q3 24 | $2.8M | — | ||
| Q2 24 | $-73.0K | — | ||
| Q1 24 | $7.1M | — |
| Q4 25 | $12.4M | — | ||
| Q3 25 | $-4.6M | $-84.7M | ||
| Q2 25 | $-194.0K | — | ||
| Q1 25 | $4.7M | — | ||
| Q4 24 | $4.8M | — | ||
| Q3 24 | $2.2M | — | ||
| Q2 24 | $-662.0K | — | ||
| Q1 24 | $4.2M | — |
| Q4 25 | 20.2% | — | ||
| Q3 25 | -9.6% | -120.1% | ||
| Q2 25 | -0.4% | — | ||
| Q1 25 | 10.5% | — | ||
| Q4 24 | 11.6% | — | ||
| Q3 24 | 5.8% | — | ||
| Q2 24 | -1.9% | — | ||
| Q1 24 | 10.5% | — |
| Q4 25 | 8.1% | — | ||
| Q3 25 | 5.3% | 0.2% | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 2.9% | — | ||
| Q4 24 | 0.8% | — | ||
| Q3 24 | 1.7% | — | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | 7.2% | — |
| Q4 25 | 2.74× | — | ||
| Q3 25 | -2.40× | — | ||
| Q2 25 | 0.15× | — | ||
| Q1 25 | 3.42× | — | ||
| Q4 24 | 2.07× | — | ||
| Q3 24 | 0.86× | — | ||
| Q2 24 | -0.05× | — | ||
| Q1 24 | 0.82× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
