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Side-by-side financial comparison of Purple Innovation, Inc. (PRPL) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Purple Innovation, Inc. is the larger business by last-quarter revenue ($140.7M vs $100.0M, roughly 1.4× Latham Group, Inc.). Purple Innovation, Inc. runs the higher net margin — -2.3% vs -7.0%, a 4.7% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs 9.1%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $-7.8M). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% CAGR vs -4.9%).
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.”
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
PRPL vs SWIM — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $140.7M | $100.0M |
| Net Profit | $-3.2M | $-7.0M |
| Gross Margin | 41.9% | 28.0% |
| Operating Margin | -1.6% | -10.7% |
| Net Margin | -2.3% | -7.0% |
| Revenue YoY | 9.1% | 14.5% |
| Net Profit YoY | 62.1% | 76.0% |
| EPS (diluted) | $0.03 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $118.8M | $161.9M | ||
| Q2 25 | $105.1M | $172.6M | ||
| Q1 25 | $104.2M | $111.4M | ||
| Q4 24 | $129.0M | $87.3M | ||
| Q3 24 | $118.6M | $150.5M | ||
| Q2 24 | $120.3M | $160.1M | ||
| Q1 24 | $120.0M | $110.6M |
| Q4 25 | $-3.2M | $-7.0M | ||
| Q3 25 | $-11.7M | $8.1M | ||
| Q2 25 | $-17.3M | $16.0M | ||
| Q1 25 | $-19.1M | $-6.0M | ||
| Q4 24 | $-8.5M | $-29.2M | ||
| Q3 24 | $-39.2M | $5.9M | ||
| Q2 24 | $27.0K | $13.3M | ||
| Q1 24 | $-50.2M | $-7.9M |
| Q4 25 | 41.9% | 28.0% | ||
| Q3 25 | 42.8% | 35.4% | ||
| Q2 25 | 35.9% | 37.1% | ||
| Q1 25 | 39.4% | 29.5% | ||
| Q4 24 | 42.9% | 24.6% | ||
| Q3 24 | 29.7% | 32.4% | ||
| Q2 24 | 40.7% | 33.1% | ||
| Q1 24 | 34.8% | 27.7% |
| Q4 25 | -1.6% | -10.7% | ||
| Q3 25 | -10.2% | 13.3% | ||
| Q2 25 | -13.5% | 14.3% | ||
| Q1 25 | -13.9% | -4.4% | ||
| Q4 24 | -6.0% | -14.9% | ||
| Q3 24 | -39.5% | 8.9% | ||
| Q2 24 | -12.1% | 12.5% | ||
| Q1 24 | -19.3% | -1.9% |
| Q4 25 | -2.3% | -7.0% | ||
| Q3 25 | -9.9% | 5.0% | ||
| Q2 25 | -16.5% | 9.3% | ||
| Q1 25 | -18.4% | -5.4% | ||
| Q4 24 | -6.6% | -33.4% | ||
| Q3 24 | -33.1% | 3.9% | ||
| Q2 24 | 0.0% | 8.3% | ||
| Q1 24 | -41.8% | -7.1% |
| Q4 25 | $0.03 | $-0.06 | ||
| Q3 25 | $0.11 | $0.07 | ||
| Q2 25 | $0.16 | $0.13 | ||
| Q1 25 | $0.18 | $-0.05 | ||
| Q4 24 | $0.08 | $-0.24 | ||
| Q3 24 | $0.36 | $0.05 | ||
| Q2 24 | $0.00 | $0.11 | ||
| Q1 24 | $0.47 | $-0.07 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.3M | — |
| Total DebtLower is stronger | $126.7M | $279.8M |
| Stockholders' EquityBook value | $-29.7M | $405.9M |
| Total Assets | $296.3M | $823.2M |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.3M | — | ||
| Q3 25 | $32.4M | — | ||
| Q2 25 | $34.2M | — | ||
| Q1 25 | $21.6M | — | ||
| Q4 24 | $29.0M | — | ||
| Q3 24 | $23.4M | — | ||
| Q2 24 | $23.4M | — | ||
| Q1 24 | $34.5M | — |
| Q4 25 | $126.7M | $279.8M | ||
| Q3 25 | — | $281.1M | ||
| Q2 25 | — | $281.5M | ||
| Q1 25 | — | $306.9M | ||
| Q4 24 | $70.7M | $281.5M | ||
| Q3 24 | $50.8M | $282.8M | ||
| Q2 24 | — | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $-29.7M | $405.9M | ||
| Q3 25 | $-26.9M | $408.4M | ||
| Q2 25 | $-15.6M | $398.4M | ||
| Q1 25 | $1.3M | $381.1M | ||
| Q4 24 | $20.2M | $387.2M | ||
| Q3 24 | $28.0M | $416.6M | ||
| Q2 24 | $66.4M | $408.1M | ||
| Q1 24 | $65.5M | $391.8M |
| Q4 25 | $296.3M | $823.2M | ||
| Q3 25 | $302.1M | $844.4M | ||
| Q2 25 | $303.8M | $822.1M | ||
| Q1 25 | $293.8M | $824.6M | ||
| Q4 24 | $307.8M | $794.2M | ||
| Q3 24 | $309.3M | $853.4M | ||
| Q2 24 | $362.1M | $830.0M | ||
| Q1 24 | $382.1M | $808.6M |
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.71× | ||
| Q1 25 | — | 0.81× | ||
| Q4 24 | 3.50× | 0.73× | ||
| Q3 24 | 1.82× | 0.68× | ||
| Q2 24 | — | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $-7.8M | $14.1M |
| FCF MarginFCF / Revenue | -5.5% | 14.1% |
| Capex IntensityCapex / Revenue | 1.4% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-41.9M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-5.8M | $23.3M | ||
| Q3 25 | $-968.0K | $51.0M | ||
| Q2 25 | $-4.0M | $36.0M | ||
| Q1 25 | $-23.1M | $-46.9M | ||
| Q4 24 | $6.8M | $6.2M | ||
| Q3 24 | $1.1M | $37.2M | ||
| Q2 24 | $-8.9M | $52.4M | ||
| Q1 24 | $-16.8M | $-34.5M |
| Q4 25 | $-7.8M | $14.1M | ||
| Q3 25 | $-1.8M | $45.2M | ||
| Q2 25 | $-7.0M | $29.1M | ||
| Q1 25 | $-25.3M | $-50.3M | ||
| Q4 24 | $5.7M | $-98.0K | ||
| Q3 24 | $101.0K | $33.2M | ||
| Q2 24 | $-11.0M | $47.9M | ||
| Q1 24 | $-19.9M | $-39.9M |
| Q4 25 | -5.5% | 14.1% | ||
| Q3 25 | -1.5% | 27.9% | ||
| Q2 25 | -6.6% | 16.8% | ||
| Q1 25 | -24.3% | -45.2% | ||
| Q4 24 | 4.4% | -0.1% | ||
| Q3 24 | 0.1% | 22.1% | ||
| Q2 24 | -9.2% | 29.9% | ||
| Q1 24 | -16.5% | -36.0% |
| Q4 25 | 1.4% | 9.2% | ||
| Q3 25 | 0.7% | 3.6% | ||
| Q2 25 | 2.8% | 4.0% | ||
| Q1 25 | 2.2% | 3.1% | ||
| Q4 24 | 0.8% | 7.2% | ||
| Q3 24 | 0.9% | 2.7% | ||
| Q2 24 | 1.7% | 2.8% | ||
| Q1 24 | 2.5% | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | -330.22× | 3.95× | ||
| 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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
