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Apellis Pharmaceuticals, Inc.（APLS）与AvePoint（AVPT）财务数据对比。点击上方公司名可切换其他公司
Apellis Pharmaceuticals, Inc.的季度营收约是AvePoint的1.7倍（$199.9M vs $114.7M），AvePoint净利率更高（13.6% vs -29.5%，领先43.1%），AvePoint同比增速更快（28.6% vs -5.9%），AvePoint自由现金流更多（$29.0M vs $-14.3M），过去两年AvePoint的营收复合增速更高（24.0% vs 7.7%）
Apellis Pharmaceuticals是一家临床阶段生物制药企业，专注于开发调节补体系统的靶向疗法，适应症覆盖年龄相关性黄斑变性继发地图样萎缩等眼科疾病、罕见血液病及自身免疫性疾病，核心市场为美国及欧盟地区。
AvePoint是一家总部位于美国新泽西州泽西市的企业，成立于2001年，2020年在纳斯达克上市。公司专注于开发软件产品，为Microsoft 365、谷歌、Salesforce等主流平台提供功能拓展与安全增强解决方案，服务全球各行业客户的数字化协作与数据治理需求。
APLS vs AVPT — 直观对比
营收规模更大
APLS
是对方的1.7倍
$114.7M
营收增速更快
AVPT
高出34.5%
-5.9%
净利率更高
AVPT
高出43.1%
-29.5%
自由现金流更多
AVPT
多$43.2M
$-14.3M
两年增速更快
AVPT
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $114.7M |
| 净利润 | $-59.0M | $15.6M |
| 毛利率 | — | 73.6% |
| 营业利润率 | -25.6% | 12.7% |
| 净利率 | -29.5% | 13.6% |
| 营收同比 | -5.9% | 28.6% |
| 净利润同比 | -62.2% | 191.1% |
| 每股收益（稀释后） | $-0.40 | $0.06 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收APLSAVPT
| Q4 25 | $199.9M | $114.7M | ||
| Q3 25 | $458.6M | $109.7M | ||
| Q2 25 | $178.5M | $102.0M | ||
| Q1 25 | $166.8M | $93.1M | ||
| Q4 24 | $212.5M | $89.2M | ||
| Q3 24 | $196.8M | $88.8M | ||
| Q2 24 | $199.7M | $78.0M | ||
| Q1 24 | $172.3M | $74.5M |
净利润APLSAVPT
| Q4 25 | $-59.0M | $15.6M | ||
| Q3 25 | $215.7M | $13.0M | ||
| Q2 25 | $-42.2M | $2.9M | ||
| Q1 25 | $-92.2M | $3.6M | ||
| Q4 24 | $-36.4M | $-17.2M | ||
| Q3 24 | $-57.4M | $2.6M | ||
| Q2 24 | $-37.7M | $-12.9M | ||
| Q1 24 | $-66.4M | $-2.0M |
毛利率APLSAVPT
| Q4 25 | — | 73.6% | ||
| Q3 25 | — | 74.4% | ||
| Q2 25 | — | 74.0% | ||
| Q1 25 | — | 74.3% | ||
| Q4 24 | — | 75.4% | ||
| Q3 24 | — | 76.1% | ||
| Q2 24 | — | 75.7% | ||
| Q1 24 | — | 72.6% |
营业利润率APLSAVPT
| Q4 25 | -25.6% | 12.7% | ||
| Q3 25 | 48.7% | 7.4% | ||
| Q2 25 | -18.6% | 7.0% | ||
| Q1 25 | -50.0% | 3.5% | ||
| Q4 24 | -12.3% | 5.4% | ||
| Q3 24 | -24.0% | 8.6% | ||
| Q2 24 | -14.7% | -2.7% | ||
| Q1 24 | -36.0% | -4.3% |
净利率APLSAVPT
| Q4 25 | -29.5% | 13.6% | ||
| Q3 25 | 47.0% | 11.9% | ||
| Q2 25 | -23.6% | 2.8% | ||
| Q1 25 | -55.3% | 3.8% | ||
| Q4 24 | -17.1% | -19.3% | ||
| Q3 24 | -29.2% | 3.0% | ||
| Q2 24 | -18.9% | -16.6% | ||
| Q1 24 | -38.5% | -2.6% |
每股收益（稀释后）APLSAVPT
| Q4 25 | $-0.40 | $0.06 | ||
| Q3 25 | $1.67 | $0.06 | ||
| Q2 25 | $-0.33 | $0.01 | ||
| Q1 25 | $-0.74 | $0.02 | ||
| Q4 24 | $-0.30 | $-0.09 | ||
| Q3 24 | $-0.46 | $0.01 | ||
| Q2 24 | $-0.30 | $-0.07 | ||
| Q1 24 | $-0.54 | $-0.01 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $466.2M | $481.1M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $478.7M |
| 总资产 | $1.1B | $789.2M |
| 负债/权益比越低杠杆越低 | — | — |
8季度趋势，按日历期对齐
现金及短期投资APLSAVPT
| Q4 25 | $466.2M | $481.1M | ||
| Q3 25 | $479.2M | $471.6M | ||
| Q2 25 | $370.0M | $430.1M | ||
| Q1 25 | $358.4M | $351.8M | ||
| Q4 24 | $411.3M | $290.9M | ||
| Q3 24 | $396.9M | $250.0M | ||
| Q2 24 | $360.1M | $230.8M | ||
| Q1 24 | $325.9M | $219.3M |
总债务APLSAVPT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSAVPT
| Q4 25 | $370.1M | $478.7M | ||
| Q3 25 | $401.2M | $466.8M | ||
| Q2 25 | $156.3M | $443.1M | ||
| Q1 25 | $164.2M | $361.5M | ||
| Q4 24 | $228.5M | $270.9M | ||
| Q3 24 | $237.1M | $215.7M | ||
| Q2 24 | $264.3M | $207.4M | ||
| Q1 24 | $266.7M | $212.7M |
总资产APLSAVPT
| Q4 25 | $1.1B | $789.2M | ||
| Q3 25 | $1.1B | $743.5M | ||
| Q2 25 | $821.4M | $700.1M | ||
| Q1 25 | $807.3M | $598.8M | ||
| Q4 24 | $885.1M | $519.1M | ||
| Q3 24 | $901.9M | $463.0M | ||
| Q2 24 | $904.5M | $427.3M | ||
| Q1 24 | $831.9M | $413.8M |
负债/权益比APLSAVPT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.35× | — |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-14.2M | $29.7M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $29.0M |
| 自由现金流率自由现金流/营收 | -7.1% | 25.3% |
| 资本支出强度资本支出/营收 | 0.1% | 0.6% |
| 现金转化率经营现金流/净利润 | — | 1.90× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $81.6M |
8季度趋势，按日历期对齐
经营现金流APLSAVPT
| Q4 25 | $-14.2M | $29.7M | ||
| Q3 25 | $108.5M | $34.8M | ||
| Q2 25 | $4.4M | $20.3M | ||
| Q1 25 | $-53.4M | $495.0K | ||
| Q4 24 | $19.4M | $32.8M | ||
| Q3 24 | $34.1M | $32.2M | ||
| Q2 24 | $-8.3M | $16.2M | ||
| Q1 24 | $-133.0M | $7.8M |
自由现金流APLSAVPT
| Q4 25 | $-14.3M | $29.0M | ||
| Q3 25 | $108.3M | $34.3M | ||
| Q2 25 | $4.4M | $19.3M | ||
| Q1 25 | $-53.4M | $-1.0M | ||
| Q4 24 | $19.3M | $32.0M | ||
| Q3 24 | — | $30.8M | ||
| Q2 24 | $-8.4M | $15.8M | ||
| Q1 24 | $-133.3M | $7.3M |
自由现金流率APLSAVPT
| Q4 25 | -7.1% | 25.3% | ||
| Q3 25 | 23.6% | 31.3% | ||
| Q2 25 | 2.5% | 18.9% | ||
| Q1 25 | -32.0% | -1.1% | ||
| Q4 24 | 9.1% | 35.9% | ||
| Q3 24 | — | 34.7% | ||
| Q2 24 | -4.2% | 20.2% | ||
| Q1 24 | -77.3% | 9.7% |
资本支出强度APLSAVPT
| Q4 25 | 0.1% | 0.6% | ||
| Q3 25 | 0.0% | 0.5% | ||
| Q2 25 | 0.0% | 0.9% | ||
| Q1 25 | 0.0% | 1.6% | ||
| Q4 24 | 0.0% | 0.8% | ||
| Q3 24 | 0.0% | 1.6% | ||
| Q2 24 | 0.0% | 0.5% | ||
| Q1 24 | 0.2% | 0.7% |
现金转化率APLSAVPT
| Q4 25 | — | 1.90× | ||
| Q3 25 | 0.50× | 2.68× | ||
| Q2 25 | — | 7.01× | ||
| Q1 25 | — | 0.14× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 12.30× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
APLS
| Syfovre | $155.2M | 78% |
| Empaveli Pegcetacoplan | $35.1M | 18% |
| Licensing And Other Revenue | $9.6M | 5% |
AVPT
| SAAS | $88.9M | 78% |
| Services | $14.7M | 13% |
| Termed License And Support | $10.1M | 9% |
