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Side-by-side financial comparison of Purple Innovation, Inc. (PRPL) and Safehold Inc. (SAFE). Click either name above to swap in a different company.
Purple Innovation, Inc. is the larger business by last-quarter revenue ($140.7M vs $97.9M, roughly 1.4× Safehold Inc.). Safehold Inc. runs the higher net margin — 28.5% vs -2.3%, a 30.8% gap on every dollar of revenue. On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs 6.5%). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% CAGR vs 2.5%).
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.”
SAFE Investment Company Limited is a Chinese sovereign wealth fund based in Hong Kong.
PRPL vs SAFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.7M | $97.9M |
| Net Profit | $-3.2M | $27.9M |
| Gross Margin | 41.9% | 98.6% |
| Operating Margin | -1.6% | 27.4% |
| Net Margin | -2.3% | 28.5% |
| Revenue YoY | 9.1% | 6.5% |
| Net Profit YoY | 62.1% | 7.1% |
| EPS (diluted) | $0.03 | $0.38 |
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 | $97.9M | ||
| Q3 25 | $118.8M | $96.2M | ||
| Q2 25 | $105.1M | $93.8M | ||
| Q1 25 | $104.2M | $97.7M | ||
| Q4 24 | $129.0M | $91.9M | ||
| Q3 24 | $118.6M | $90.7M | ||
| Q2 24 | $120.3M | $89.9M | ||
| Q1 24 | $120.0M | $93.2M |
| Q4 25 | $-3.2M | $27.9M | ||
| Q3 25 | $-11.7M | $29.3M | ||
| Q2 25 | $-17.3M | $27.9M | ||
| Q1 25 | $-19.1M | $29.4M | ||
| Q4 24 | $-8.5M | $26.0M | ||
| Q3 24 | $-39.2M | $19.3M | ||
| Q2 24 | $27.0K | $29.7M | ||
| Q1 24 | $-50.2M | $30.7M |
| Q4 25 | 41.9% | 98.6% | ||
| Q3 25 | 42.8% | 98.5% | ||
| Q2 25 | 35.9% | 99.1% | ||
| Q1 25 | 39.4% | 98.8% | ||
| Q4 24 | 42.9% | 98.8% | ||
| Q3 24 | 29.7% | 98.8% | ||
| Q2 24 | 40.7% | 98.8% | ||
| Q1 24 | 34.8% | 98.8% |
| Q4 25 | -1.6% | 27.4% | ||
| Q3 25 | -10.2% | 25.9% | ||
| Q2 25 | -13.5% | 25.5% | ||
| Q1 25 | -13.9% | 25.9% | ||
| Q4 24 | -6.0% | 24.6% | ||
| Q3 24 | -39.5% | 17.5% | ||
| Q2 24 | -12.1% | 26.7% | ||
| Q1 24 | -19.3% | 26.4% |
| Q4 25 | -2.3% | 28.5% | ||
| Q3 25 | -9.9% | 30.5% | ||
| Q2 25 | -16.5% | 29.8% | ||
| Q1 25 | -18.4% | 30.1% | ||
| Q4 24 | -6.6% | 28.3% | ||
| Q3 24 | -33.1% | 21.3% | ||
| Q2 24 | 0.0% | 33.0% | ||
| Q1 24 | -41.8% | 33.0% |
| Q4 25 | $0.03 | $0.38 | ||
| Q3 25 | $0.11 | $0.41 | ||
| Q2 25 | $0.16 | $0.39 | ||
| Q1 25 | $0.18 | $0.41 | ||
| Q4 24 | $0.08 | $0.36 | ||
| Q3 24 | $0.36 | $0.27 | ||
| Q2 24 | $0.00 | $0.42 | ||
| Q1 24 | $0.47 | $0.43 |
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 | $21.7M |
| Total DebtLower is stronger | $126.7M | $4.6B |
| Stockholders' EquityBook value | $-29.7M | $2.4B |
| Total Assets | $296.3M | $7.2B |
| Debt / EquityLower = less leverage | — | 1.90× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.3M | $21.7M | ||
| Q3 25 | $32.4M | $12.1M | ||
| Q2 25 | $34.2M | $13.9M | ||
| Q1 25 | $21.6M | $17.3M | ||
| Q4 24 | $29.0M | $8.3M | ||
| Q3 24 | $23.4M | $15.6M | ||
| Q2 24 | $23.4M | $13.4M | ||
| Q1 24 | $34.5M | $11.3M |
| Q4 25 | $126.7M | $4.6B | ||
| Q3 25 | — | $4.5B | ||
| Q2 25 | — | $4.4B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | $70.7M | $4.3B | ||
| Q3 24 | $50.8M | $4.3B | ||
| Q2 24 | — | $4.2B | ||
| Q1 24 | — | $4.1B |
| Q4 25 | $-29.7M | $2.4B | ||
| Q3 25 | $-26.9M | $2.4B | ||
| Q2 25 | $-15.6M | $2.4B | ||
| Q1 25 | $1.3M | $2.4B | ||
| Q4 24 | $20.2M | $2.3B | ||
| Q3 24 | $28.0M | $2.3B | ||
| Q2 24 | $66.4M | $2.3B | ||
| Q1 24 | $65.5M | $2.3B |
| Q4 25 | $296.3M | $7.2B | ||
| Q3 25 | $302.1M | $7.1B | ||
| Q2 25 | $303.8M | $7.1B | ||
| Q1 25 | $293.8M | $6.9B | ||
| Q4 24 | $307.8M | $6.9B | ||
| Q3 24 | $309.3M | $6.8B | ||
| Q2 24 | $362.1M | $6.8B | ||
| Q1 24 | $382.1M | $6.7B |
| Q4 25 | — | 1.90× | ||
| Q3 25 | — | 1.89× | ||
| Q2 25 | — | 1.87× | ||
| Q1 25 | — | 1.85× | ||
| Q4 24 | 3.50× | 1.84× | ||
| Q3 24 | 1.82× | 1.88× | ||
| Q2 24 | — | 1.81× | ||
| Q1 24 | — | 1.81× |
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 | $47.8M |
| Free Cash FlowOCF − Capex | $-7.8M | — |
| FCF MarginFCF / Revenue | -5.5% | — |
| Capex IntensityCapex / Revenue | 1.4% | — |
| Cash ConversionOCF / Net Profit | — | 1.72× |
| TTM Free Cash FlowTrailing 4 quarters | $-41.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-5.8M | $47.8M | ||
| Q3 25 | $-968.0K | $-1.4M | ||
| Q2 25 | $-4.0M | $28.0M | ||
| Q1 25 | $-23.1M | $8.9M | ||
| Q4 24 | $6.8M | $37.9M | ||
| Q3 24 | $1.1M | $8.3M | ||
| Q2 24 | $-8.9M | $24.8M | ||
| Q1 24 | $-16.8M | $-3.1M |
| Q4 25 | $-7.8M | — | ||
| Q3 25 | $-1.8M | — | ||
| Q2 25 | $-7.0M | — | ||
| Q1 25 | $-25.3M | — | ||
| Q4 24 | $5.7M | — | ||
| Q3 24 | $101.0K | — | ||
| Q2 24 | $-11.0M | — | ||
| Q1 24 | $-19.9M | — |
| Q4 25 | -5.5% | — | ||
| Q3 25 | -1.5% | — | ||
| Q2 25 | -6.6% | — | ||
| Q1 25 | -24.3% | — | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 0.1% | — | ||
| Q2 24 | -9.2% | — | ||
| Q1 24 | -16.5% | — |
| Q4 25 | 1.4% | — | ||
| Q3 25 | 0.7% | — | ||
| Q2 25 | 2.8% | — | ||
| Q1 25 | 2.2% | — | ||
| Q4 24 | 0.8% | — | ||
| Q3 24 | 0.9% | — | ||
| Q2 24 | 1.7% | — | ||
| Q1 24 | 2.5% | — |
| Q4 25 | — | 1.72× | ||
| Q3 25 | — | -0.05× | ||
| Q2 25 | — | 1.00× | ||
| Q1 25 | — | 0.30× | ||
| Q4 24 | — | 1.45× | ||
| Q3 24 | — | 0.43× | ||
| Q2 24 | -330.22× | 0.83× | ||
| Q1 24 | — | -0.10× |
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% |
SAFE
| Equity Method Investment Nonconsolidated Investee Or Group Of Investees | $60.3M | 62% |
| Other | $33.7M | 34% |
| Stabilized Properties | $3.8M | 4% |
