vs
Side-by-side financial comparison of Purple Innovation, Inc. (PRPL) and Riot Platforms, Inc. (RIOT). Click either name above to swap in a different company.
Riot Platforms, Inc. is the larger business by last-quarter revenue ($152.8M vs $140.7M, roughly 1.1× Purple Innovation, Inc.). Purple Innovation, Inc. runs the higher net margin — -2.3% vs -452.0%, a 449.7% gap on every dollar of revenue. On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs 7.2%). Purple Innovation, Inc. produced more free cash flow last quarter ($-7.8M vs $-774.3M). Over the past eight quarters, Riot Platforms, Inc.'s revenue compounded faster (38.8% CAGR vs 8.3%).
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.”
Riot Platforms, Inc. is a leading U.S.-based enterprise focused on Bitcoin mining, operating multiple large-scale, energy-efficient data centers across North America. It also invests in blockchain infrastructure development and holds Bitcoin as a core long-term reserve asset, centering its business strategy around the digital asset ecosystem.
PRPL vs RIOT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.7M | $152.8M |
| Net Profit | $-3.2M | $-690.7M |
| Gross Margin | 41.9% | — |
| Operating Margin | -1.6% | -447.9% |
| Net Margin | -2.3% | -452.0% |
| Revenue YoY | 9.1% | 7.2% |
| Net Profit YoY | 62.1% | -606.3% |
| EPS (diluted) | $0.03 | $-1.89 |
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 | $140.7M | $152.8M | ||
| Q3 25 | $118.8M | $180.2M | ||
| Q2 25 | $105.1M | $153.0M | ||
| Q1 25 | $104.2M | $161.4M | ||
| Q4 24 | $129.0M | $142.6M | ||
| Q3 24 | $118.6M | $84.8M | ||
| Q2 24 | $120.3M | $70.0M | ||
| Q1 24 | $120.0M | $79.3M |
| Q4 25 | $-3.2M | $-690.7M | ||
| Q3 25 | $-11.7M | $104.5M | ||
| Q2 25 | $-17.3M | $219.5M | ||
| Q1 25 | $-19.1M | $-296.4M | ||
| Q4 24 | $-8.5M | $136.4M | ||
| Q3 24 | $-39.2M | $-154.4M | ||
| Q2 24 | $27.0K | $-84.4M | ||
| Q1 24 | $-50.2M | $211.8M |
| 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 24 | 34.8% | — |
| Q4 25 | -1.6% | -447.9% | ||
| Q3 25 | -10.2% | 44.4% | ||
| Q2 25 | -13.5% | — | ||
| Q1 25 | -13.9% | -144.9% | ||
| Q4 24 | -6.0% | — | ||
| Q3 24 | -39.5% | -143.3% | ||
| Q2 24 | -12.1% | -167.2% | ||
| Q1 24 | -19.3% | — |
| Q4 25 | -2.3% | -452.0% | ||
| Q3 25 | -9.9% | 58.0% | ||
| Q2 25 | -16.5% | 143.4% | ||
| Q1 25 | -18.4% | -183.6% | ||
| Q4 24 | -6.6% | 95.7% | ||
| Q3 24 | -33.1% | -182.1% | ||
| Q2 24 | 0.0% | -120.6% | ||
| Q1 24 | -41.8% | 267.1% |
| Q4 25 | $0.03 | $-1.89 | ||
| Q3 25 | $0.11 | $0.26 | ||
| Q2 25 | $0.16 | $0.58 | ||
| Q1 25 | $0.18 | $-0.90 | ||
| Q4 24 | $0.08 | $0.39 | ||
| Q3 24 | $0.36 | $-0.54 | ||
| Q2 24 | $0.00 | $-0.32 | ||
| Q1 24 | $0.47 | $0.51 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.3M | $233.5M |
| Total DebtLower is stronger | $126.7M | $840.8M |
| Stockholders' EquityBook value | $-29.7M | $2.9B |
| Total Assets | $296.3M | $3.9B |
| Debt / EquityLower = less leverage | — | 0.29× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.3M | $233.5M | ||
| Q3 25 | $32.4M | $330.7M | ||
| Q2 25 | $34.2M | $255.4M | ||
| Q1 25 | $21.6M | $163.7M | ||
| Q4 24 | $29.0M | $277.9M | ||
| Q3 24 | $23.4M | $355.7M | ||
| Q2 24 | $23.4M | $481.2M | ||
| Q1 24 | $34.5M | $688.5M |
| Q4 25 | $126.7M | $840.8M | ||
| Q3 25 | — | $5.3M | ||
| Q2 25 | — | $5.3M | ||
| Q1 25 | — | $5.3M | ||
| Q4 24 | $70.7M | $584.6M | ||
| Q3 24 | $50.8M | $5.7M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $-29.7M | $2.9B | ||
| Q3 25 | $-26.9M | $3.5B | ||
| Q2 25 | $-15.6M | $3.3B | ||
| Q1 25 | $1.3M | $2.9B | ||
| Q4 24 | $20.2M | $3.1B | ||
| Q3 24 | $28.0M | $2.7B | ||
| Q2 24 | $66.4M | $2.6B | ||
| Q1 24 | $65.5M | $2.5B |
| Q4 25 | $296.3M | $3.9B | ||
| Q3 25 | $302.1M | $4.5B | ||
| Q2 25 | $303.8M | $4.3B | ||
| Q1 25 | $293.8M | $3.7B | ||
| Q4 24 | $307.8M | $3.9B | ||
| Q3 24 | $309.3M | $2.9B | ||
| Q2 24 | $362.1M | $2.7B | ||
| Q1 24 | $382.1M | $2.6B |
| Q4 25 | — | 0.29× | ||
| Q3 25 | — | 0.00× | ||
| Q2 25 | — | 0.00× | ||
| Q1 25 | — | 0.00× | ||
| Q4 24 | 3.50× | 0.19× | ||
| Q3 24 | 1.82× | 0.00× | ||
| Q2 24 | — | — | ||
| Q1 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 | $-572.9M |
| Free Cash FlowOCF − Capex | $-7.8M | $-774.3M |
| FCF MarginFCF / Revenue | -5.5% | -506.6% |
| Capex IntensityCapex / Revenue | 1.4% | 131.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-41.9M | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-5.8M | $-572.9M | ||
| Q3 25 | $-968.0K | $-114.0M | ||
| Q2 25 | $-4.0M | $-231.3M | ||
| Q1 25 | $-23.1M | $-122.1M | ||
| Q4 24 | $6.8M | $-255.1M | ||
| Q3 24 | $1.1M | $-56.3M | ||
| Q2 24 | $-8.9M | $-42.5M | ||
| Q1 24 | $-16.8M | $-57.9M |
| Q4 25 | $-7.8M | $-774.3M | ||
| Q3 25 | $-1.8M | $-139.7M | ||
| Q2 25 | $-7.0M | $-291.7M | ||
| Q1 25 | $-25.3M | $-154.9M | ||
| Q4 24 | $5.7M | $-495.4M | ||
| Q3 24 | $101.0K | $-127.6M | ||
| Q2 24 | $-11.0M | $-96.1M | ||
| Q1 24 | $-19.9M | $-115.2M |
| Q4 25 | -5.5% | -506.6% | ||
| Q3 25 | -1.5% | -77.5% | ||
| Q2 25 | -6.6% | -190.7% | ||
| Q1 25 | -24.3% | -96.0% | ||
| Q4 24 | 4.4% | -347.5% | ||
| Q3 24 | 0.1% | -150.5% | ||
| Q2 24 | -9.2% | -137.2% | ||
| Q1 24 | -16.5% | -145.2% |
| Q4 25 | 1.4% | 131.8% | ||
| Q3 25 | 0.7% | 14.3% | ||
| Q2 25 | 2.8% | 39.5% | ||
| Q1 25 | 2.2% | 20.4% | ||
| Q4 24 | 0.8% | 168.6% | ||
| Q3 24 | 0.9% | 84.1% | ||
| Q2 24 | 1.7% | 76.5% | ||
| Q1 24 | 2.5% | 72.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | -1.09× | ||
| Q2 25 | — | -1.05× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -1.87× | ||
| Q3 24 | — | — | ||
| Q2 24 | -330.22× | — | ||
| Q1 24 | — | -0.27× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
PRPL
| Cost Of Revenues | $81.7M | 58% |
| Other | $59.0M | 42% |
RIOT
| Bitcoin Mining Segment | $131.7M | 86% |
| Engineering Segment | $21.1M | 14% |
