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Side-by-side financial comparison of Purple Innovation, Inc. (PRPL) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
Purple Innovation, Inc. is the larger business by last-quarter revenue ($140.7M vs $86.0M, roughly 1.6× Smart Sand, Inc.). Smart Sand, Inc. runs the higher net margin — 1.4% vs -2.3%, a 3.7% gap on every dollar of revenue. On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs -5.8%). Smart Sand, Inc. produced more free cash flow last quarter ($20.4M vs $-7.8M). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% CAGR vs 1.8%).
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.”
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
PRPL vs SND — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.7M | $86.0M |
| Net Profit | $-3.2M | $1.2M |
| Gross Margin | 41.9% | 13.0% |
| Operating Margin | -1.6% | -3.1% |
| Net Margin | -2.3% | 1.4% |
| Revenue YoY | 9.1% | -5.8% |
| Net Profit YoY | 62.1% | -68.5% |
| EPS (diluted) | $0.03 | $0.03 |
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 | $86.0M | ||
| Q3 25 | $118.8M | $92.8M | ||
| Q2 25 | $105.1M | $85.8M | ||
| Q1 25 | $104.2M | $65.6M | ||
| Q4 24 | $129.0M | $91.4M | ||
| Q3 24 | $118.6M | $63.2M | ||
| Q2 24 | $120.3M | $73.8M | ||
| Q1 24 | $120.0M | $83.1M |
| Q4 25 | $-3.2M | $1.2M | ||
| Q3 25 | $-11.7M | $3.0M | ||
| Q2 25 | $-17.3M | $21.4M | ||
| Q1 25 | $-19.1M | $-24.2M | ||
| Q4 24 | $-8.5M | $3.7M | ||
| Q3 24 | $-39.2M | $-98.0K | ||
| Q2 24 | $27.0K | $-430.0K | ||
| Q1 24 | $-50.2M | $-216.0K |
| Q4 25 | 41.9% | 13.0% | ||
| Q3 25 | 42.8% | 16.1% | ||
| Q2 25 | 35.9% | 10.4% | ||
| Q1 25 | 39.4% | 4.2% | ||
| Q4 24 | 42.9% | 14.7% | ||
| Q3 24 | 29.7% | 10.3% | ||
| Q2 24 | 40.7% | 17.7% | ||
| Q1 24 | 34.8% | 14.2% |
| Q4 25 | -1.6% | -3.1% | ||
| Q3 25 | -10.2% | 5.8% | ||
| Q2 25 | -13.5% | -0.1% | ||
| Q1 25 | -13.9% | -10.8% | ||
| Q4 24 | -6.0% | 3.9% | ||
| Q3 24 | -39.5% | -7.8% | ||
| Q2 24 | -12.1% | 4.8% | ||
| Q1 24 | -19.3% | 0.9% |
| Q4 25 | -2.3% | 1.4% | ||
| Q3 25 | -9.9% | 3.2% | ||
| Q2 25 | -16.5% | 24.9% | ||
| Q1 25 | -18.4% | -37.0% | ||
| Q4 24 | -6.6% | 4.1% | ||
| Q3 24 | -33.1% | -0.2% | ||
| Q2 24 | 0.0% | -0.6% | ||
| Q1 24 | -41.8% | -0.3% |
| Q4 25 | $0.03 | $0.03 | ||
| Q3 25 | $0.11 | $0.08 | ||
| Q2 25 | $0.16 | $0.54 | ||
| Q1 25 | $0.18 | $-0.62 | ||
| Q4 24 | $0.08 | $0.10 | ||
| Q3 24 | $0.36 | $0.00 | ||
| Q2 24 | $0.00 | $-0.01 | ||
| Q1 24 | $0.47 | $-0.01 |
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 | $22.6M |
| Total DebtLower is stronger | $126.7M | $15.0M |
| Stockholders' EquityBook value | $-29.7M | $239.7M |
| Total Assets | $296.3M | $340.0M |
| Debt / EquityLower = less leverage | — | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.3M | $22.6M | ||
| Q3 25 | $32.4M | $5.1M | ||
| Q2 25 | $34.2M | $4.3M | ||
| Q1 25 | $21.6M | $5.1M | ||
| Q4 24 | $29.0M | $1.6M | ||
| Q3 24 | $23.4M | $7.2M | ||
| Q2 24 | $23.4M | $6.3M | ||
| Q1 24 | $34.5M | $4.6M |
| Q4 25 | $126.7M | $15.0M | ||
| Q3 25 | — | $14.3M | ||
| Q2 25 | — | $23.5M | ||
| Q1 25 | — | $13.7M | ||
| Q4 24 | $70.7M | $14.7M | ||
| Q3 24 | $50.8M | $15.7M | ||
| Q2 24 | — | $17.1M | ||
| Q1 24 | — | $25.5M |
| Q4 25 | $-29.7M | $239.7M | ||
| Q3 25 | $-26.9M | $239.9M | ||
| Q2 25 | $-15.6M | $240.5M | ||
| Q1 25 | $1.3M | $219.9M | ||
| Q4 24 | $20.2M | $243.8M | ||
| Q3 24 | $28.0M | $243.6M | ||
| Q2 24 | $66.4M | $242.9M | ||
| Q1 24 | $65.5M | $242.5M |
| Q4 25 | $296.3M | $340.0M | ||
| Q3 25 | $302.1M | $343.1M | ||
| Q2 25 | $303.8M | $345.8M | ||
| Q1 25 | $293.8M | $326.9M | ||
| Q4 24 | $307.8M | $341.5M | ||
| Q3 24 | $309.3M | $335.8M | ||
| Q2 24 | $362.1M | $341.8M | ||
| Q1 24 | $382.1M | $349.3M |
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | 3.50× | 0.06× | ||
| Q3 24 | 1.82× | 0.06× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.11× |
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 | $22.4M |
| Free Cash FlowOCF − Capex | $-7.8M | $20.4M |
| FCF MarginFCF / Revenue | -5.5% | 23.7% |
| Capex IntensityCapex / Revenue | 1.4% | 2.3% |
| Cash ConversionOCF / Net Profit | — | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | $-41.9M | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-5.8M | $22.4M | ||
| Q3 25 | $-968.0K | $18.2M | ||
| Q2 25 | $-4.0M | $-5.1M | ||
| Q1 25 | $-23.1M | $8.7M | ||
| Q4 24 | $6.8M | $1.0M | ||
| Q3 24 | $1.1M | $5.8M | ||
| Q2 24 | $-8.9M | $14.9M | ||
| Q1 24 | $-16.8M | $-3.9M |
| Q4 25 | $-7.8M | $20.4M | ||
| Q3 25 | $-1.8M | $14.8M | ||
| Q2 25 | $-7.0M | $-7.8M | ||
| Q1 25 | $-25.3M | $5.2M | ||
| Q4 24 | $5.7M | $-840.0K | ||
| Q3 24 | $101.0K | $3.7M | ||
| Q2 24 | $-11.0M | $13.5M | ||
| Q1 24 | $-19.9M | $-5.5M |
| Q4 25 | -5.5% | 23.7% | ||
| Q3 25 | -1.5% | 15.9% | ||
| Q2 25 | -6.6% | -9.1% | ||
| Q1 25 | -24.3% | 7.9% | ||
| Q4 24 | 4.4% | -0.9% | ||
| Q3 24 | 0.1% | 5.8% | ||
| Q2 24 | -9.2% | 18.3% | ||
| Q1 24 | -16.5% | -6.6% |
| Q4 25 | 1.4% | 2.3% | ||
| Q3 25 | 0.7% | 3.6% | ||
| Q2 25 | 2.8% | 3.1% | ||
| Q1 25 | 2.2% | 5.4% | ||
| Q4 24 | 0.8% | 2.1% | ||
| Q3 24 | 0.9% | 3.4% | ||
| Q2 24 | 1.7% | 1.8% | ||
| Q1 24 | 2.5% | 2.0% |
| Q4 25 | — | 18.99× | ||
| Q3 25 | — | 6.05× | ||
| Q2 25 | — | -0.24× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.28× | ||
| Q3 24 | — | — | ||
| Q2 24 | -330.22× | — | ||
| Q1 24 | — | — |
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% |
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
