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Side-by-side financial comparison of Purple Innovation, Inc. (PRPL) and Varex Imaging Corp (VREX). Click either name above to swap in a different company.
Varex Imaging Corp is the larger business by last-quarter revenue ($209.6M vs $140.7M, roughly 1.5× Purple Innovation, Inc.). Varex Imaging Corp runs the higher net margin — 1.1% vs -2.3%, a 3.4% gap on every dollar of revenue. On growth, Purple Innovation, Inc. posted the faster year-over-year revenue change (9.1% vs 4.9%). Purple Innovation, Inc. produced more free cash flow last quarter ($-7.8M vs $-26.8M). Over the past eight quarters, Purple Innovation, Inc.'s revenue compounded faster (8.3% CAGR vs 0.8%).
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.”
Varex Imaging Corp is a global supplier of advanced imaging components and solutions, including X-ray tubes, digital flat panel detectors, and image processing software. Its products serve medical imaging, radiation oncology, and industrial non-destructive testing segments, with customers across key global markets.
PRPL vs VREX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $140.7M | $209.6M |
| Net Profit | $-3.2M | $2.3M |
| Gross Margin | 41.9% | 33.3% |
| Operating Margin | -1.6% | 7.3% |
| Net Margin | -2.3% | 1.1% |
| Revenue YoY | 9.1% | 4.9% |
| Net Profit YoY | 62.1% | 866.7% |
| EPS (diluted) | $0.03 | $0.05 |
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.
| Q1 26 | — | $209.6M | ||
| Q4 25 | $140.7M | $228.9M | ||
| Q3 25 | $118.8M | $203.0M | ||
| Q2 25 | $105.1M | $212.9M | ||
| Q1 25 | $104.2M | $199.8M | ||
| Q4 24 | $129.0M | — | ||
| Q3 24 | $118.6M | $205.7M | ||
| Q2 24 | $120.3M | $209.1M |
| Q1 26 | — | $2.3M | ||
| Q4 25 | $-3.2M | $12.2M | ||
| Q3 25 | $-11.7M | $-89.1M | ||
| Q2 25 | $-17.3M | $6.9M | ||
| Q1 25 | $-19.1M | $-300.0K | ||
| Q4 24 | $-8.5M | — | ||
| Q3 24 | $-39.2M | $-51.1M | ||
| Q2 24 | $27.0K | $1.4M |
| Q1 26 | — | 33.3% | ||
| Q4 25 | 41.9% | 34.0% | ||
| Q3 25 | 42.8% | 33.3% | ||
| Q2 25 | 35.9% | 36.0% | ||
| Q1 25 | 39.4% | 34.3% | ||
| Q4 24 | 42.9% | — | ||
| Q3 24 | 29.7% | 32.6% | ||
| Q2 24 | 40.7% | 32.0% |
| Q1 26 | — | 7.3% | ||
| Q4 25 | -1.6% | 8.6% | ||
| Q3 25 | -10.2% | -39.8% | ||
| Q2 25 | -13.5% | 10.4% | ||
| Q1 25 | -13.9% | 5.6% | ||
| Q4 24 | -6.0% | — | ||
| Q3 24 | -39.5% | 5.3% | ||
| Q2 24 | -12.1% | 4.4% |
| Q1 26 | — | 1.1% | ||
| Q4 25 | -2.3% | 5.3% | ||
| Q3 25 | -9.9% | -43.9% | ||
| Q2 25 | -16.5% | 3.2% | ||
| Q1 25 | -18.4% | -0.2% | ||
| Q4 24 | -6.6% | — | ||
| Q3 24 | -33.1% | -24.8% | ||
| Q2 24 | 0.0% | 0.7% |
| Q1 26 | — | $0.05 | ||
| Q4 25 | $0.03 | $0.29 | ||
| Q3 25 | $0.11 | $-2.15 | ||
| Q2 25 | $0.16 | $0.17 | ||
| Q1 25 | $0.18 | $-0.01 | ||
| Q4 24 | $0.08 | — | ||
| Q3 24 | $0.36 | $-1.25 | ||
| Q2 24 | $0.00 | $0.03 |
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 | $125.6M |
| Total DebtLower is stronger | $126.7M | $367.6M |
| Stockholders' EquityBook value | $-29.7M | $476.9M |
| Total Assets | $296.3M | $1.1B |
| Debt / EquityLower = less leverage | — | 0.77× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $125.6M | ||
| Q4 25 | $24.3M | $155.1M | ||
| Q3 25 | $32.4M | $152.6M | ||
| Q2 25 | $34.2M | $223.0M | ||
| Q1 25 | $21.6M | $212.6M | ||
| Q4 24 | $29.0M | — | ||
| Q3 24 | $23.4M | $200.5M | ||
| Q2 24 | $23.4M | $190.0M |
| Q1 26 | — | $367.6M | ||
| Q4 25 | $126.7M | $367.5M | ||
| Q3 25 | — | $367.5M | ||
| Q2 25 | — | $567.2M | ||
| Q1 25 | — | $567.0M | ||
| Q4 24 | $70.7M | — | ||
| Q3 24 | $50.8M | $443.4M | ||
| Q2 24 | — | $443.1M |
| Q1 26 | — | $476.9M | ||
| Q4 25 | $-29.7M | $472.6M | ||
| Q3 25 | $-26.9M | $455.3M | ||
| Q2 25 | $-15.6M | $549.7M | ||
| Q1 25 | $1.3M | $540.2M | ||
| Q4 24 | $20.2M | — | ||
| Q3 24 | $28.0M | $529.1M | ||
| Q2 24 | $66.4M | $581.2M |
| Q1 26 | — | $1.1B | ||
| Q4 25 | $296.3M | $1.1B | ||
| Q3 25 | $302.1M | $1.1B | ||
| Q2 25 | $303.8M | $1.4B | ||
| Q1 25 | $293.8M | $1.3B | ||
| Q4 24 | $307.8M | — | ||
| Q3 24 | $309.3M | $1.2B | ||
| Q2 24 | $362.1M | $1.3B |
| Q1 26 | — | 0.77× | ||
| Q4 25 | — | 0.78× | ||
| Q3 25 | — | 0.81× | ||
| Q2 25 | — | 1.03× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | 3.50× | — | ||
| Q3 24 | 1.82× | 0.84× | ||
| Q2 24 | — | 0.76× |
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 | $-16.1M |
| Free Cash FlowOCF − Capex | $-7.8M | $-26.8M |
| FCF MarginFCF / Revenue | -5.5% | -12.8% |
| Capex IntensityCapex / Revenue | 1.4% | 5.1% |
| Cash ConversionOCF / Net Profit | — | -7.00× |
| TTM Free Cash FlowTrailing 4 quarters | $-41.9M | $-13.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $-16.1M | ||
| Q4 25 | $-5.8M | $7.9M | ||
| Q3 25 | $-968.0K | $7.7M | ||
| Q2 25 | $-4.0M | $16.6M | ||
| Q1 25 | $-23.1M | $9.5M | ||
| Q4 24 | $6.8M | — | ||
| Q3 24 | $1.1M | $25.9M | ||
| Q2 24 | $-8.9M | $8.0M |
| Q1 26 | — | $-26.8M | ||
| Q4 25 | $-7.8M | $2.3M | ||
| Q3 25 | $-1.8M | $1.4M | ||
| Q2 25 | $-7.0M | $9.8M | ||
| Q1 25 | $-25.3M | $5.3M | ||
| Q4 24 | $5.7M | — | ||
| Q3 24 | $101.0K | $19.9M | ||
| Q2 24 | $-11.0M | $3.3M |
| Q1 26 | — | -12.8% | ||
| Q4 25 | -5.5% | 1.0% | ||
| Q3 25 | -1.5% | 0.7% | ||
| Q2 25 | -6.6% | 4.6% | ||
| Q1 25 | -24.3% | 2.7% | ||
| Q4 24 | 4.4% | — | ||
| Q3 24 | 0.1% | 9.7% | ||
| Q2 24 | -9.2% | 1.6% |
| Q1 26 | — | 5.1% | ||
| Q4 25 | 1.4% | 2.4% | ||
| Q3 25 | 0.7% | 3.1% | ||
| Q2 25 | 2.8% | 3.2% | ||
| Q1 25 | 2.2% | 2.1% | ||
| Q4 24 | 0.8% | — | ||
| Q3 24 | 0.9% | 2.9% | ||
| Q2 24 | 1.7% | 2.2% |
| Q1 26 | — | -7.00× | ||
| Q4 25 | — | 0.65× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 2.41× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -330.22× | 5.71× |
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% |
VREX
| Medical Segment | $144.8M | 69% |
| Industrial Segment | $64.8M | 31% |
