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Apellis Pharmaceuticals, Inc.（APLS）与Grindr Inc.（GRND）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Grindr Inc.的1.6倍（$199.9M vs $126.0M），Grindr Inc.净利率更高（16.1% vs -29.5%，领先45.6%），Grindr Inc.同比增速更快（29.0% vs -5.9%），Grindr Inc.自由现金流更多（$24.5M vs $-14.3M），过去两年Grindr Inc.的营收复合增速更高（29.3% 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。
Grindr是面向LGBTQ群体的定位类社交应用，基于地理位置匹配功能帮助同群体用户便捷建立联系、拓展社交圈，是全球范围内该群体中认知度较高的社交服务平台之一。
APLS vs GRND — 直观对比
营收规模更大
APLS
是对方的1.6倍
$126.0M
营收增速更快
GRND
高出35.0%
-5.9%
净利率更高
GRND
高出45.6%
-29.5%
自由现金流更多
GRND
多$38.8M
$-14.3M
两年增速更快
GRND
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $126.0M |
| 净利润 | $-59.0M | $20.3M |
| 毛利率 | — | — |
| 营业利润率 | -25.6% | 24.9% |
| 净利率 | -29.5% | 16.1% |
| 营收同比 | -5.9% | 29.0% |
| 净利润同比 | -62.2% | 116.4% |
| 每股收益（稀释后） | $-0.40 | $0.10 |
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APLSGRND
| Q4 25 | $199.9M | $126.0M | ||
| Q3 25 | $458.6M | $115.8M | ||
| Q2 25 | $178.5M | $104.2M | ||
| Q1 25 | $166.8M | $93.9M | ||
| Q4 24 | $212.5M | $97.6M | ||
| Q3 24 | $196.8M | $89.3M | ||
| Q2 24 | $199.7M | $82.3M | ||
| Q1 24 | $172.3M | $75.3M |
净利润APLSGRND
| Q4 25 | $-59.0M | $20.3M | ||
| Q3 25 | $215.7M | $30.8M | ||
| Q2 25 | $-42.2M | $16.6M | ||
| Q1 25 | $-92.2M | $27.0M | ||
| Q4 24 | $-36.4M | $-123.9M | ||
| Q3 24 | $-57.4M | $24.7M | ||
| Q2 24 | $-37.7M | $-22.4M | ||
| Q1 24 | $-66.4M | $-9.4M |
营业利润率APLSGRND
| Q4 25 | -25.6% | 24.9% | ||
| Q3 25 | 48.7% | 39.1% | ||
| Q2 25 | -18.6% | 23.4% | ||
| Q1 25 | -50.0% | 27.0% | ||
| Q4 24 | -12.3% | 20.9% | ||
| Q3 24 | -24.0% | 31.8% | ||
| Q2 24 | -14.7% | 29.8% | ||
| Q1 24 | -36.0% | 25.6% |
净利率APLSGRND
| Q4 25 | -29.5% | 16.1% | ||
| Q3 25 | 47.0% | 26.6% | ||
| Q2 25 | -23.6% | 16.0% | ||
| Q1 25 | -55.3% | 28.8% | ||
| Q4 24 | -17.1% | -126.9% | ||
| Q3 24 | -29.2% | 27.6% | ||
| Q2 24 | -18.9% | -27.2% | ||
| Q1 24 | -38.5% | -12.5% |
每股收益（稀释后）APLSGRND
| Q4 25 | $-0.40 | $0.10 | ||
| Q3 25 | $1.67 | $0.16 | ||
| Q2 25 | $-0.33 | $0.08 | ||
| Q1 25 | $-0.74 | $0.09 | ||
| Q4 24 | $-0.30 | $-0.65 | ||
| Q3 24 | $-0.46 | $0.09 | ||
| Q2 24 | $-0.30 | $-0.13 | ||
| Q1 24 | $-0.54 | $-0.05 |
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 | $87.0M |
| 总债务越低越好 | — | $395.9M |
| 股东权益账面价值 | $370.1M | $47.0M |
| 总资产 | $1.1B | $531.0M |
| 负债/权益比越低杠杆越低 | — | 8.42× |
8季度趋势，按日历期对齐
现金及短期投资APLSGRND
| Q4 25 | $466.2M | $87.0M | ||
| Q3 25 | $479.2M | $6.3M | ||
| Q2 25 | $370.0M | $120.8M | ||
| Q1 25 | $358.4M | $255.9M | ||
| Q4 24 | $411.3M | $59.2M | ||
| Q3 24 | $396.9M | $39.1M | ||
| Q2 24 | $360.1M | $16.3M | ||
| Q1 24 | $325.9M | $21.5M |
总债务APLSGRND
| Q4 25 | — | $395.9M | ||
| Q3 25 | — | $279.9M | ||
| Q2 25 | — | $283.5M | ||
| Q1 25 | — | $287.0M | ||
| Q4 24 | — | $290.6M | ||
| Q3 24 | — | $294.1M | ||
| Q2 24 | — | $297.7M | ||
| Q1 24 | $93.1M | $315.0M |
股东权益APLSGRND
| Q4 25 | $370.1M | $47.0M | ||
| Q3 25 | $401.2M | $71.0M | ||
| Q2 25 | $156.3M | $187.7M | ||
| Q1 25 | $164.2M | $319.8M | ||
| Q4 24 | $228.5M | $-131.6M | ||
| Q3 24 | $237.1M | $-13.4M | ||
| Q2 24 | $264.3M | $-41.7M | ||
| Q1 24 | $266.7M | $-22.0M |
总资产APLSGRND
| Q4 25 | $1.1B | $531.0M | ||
| Q3 25 | $1.1B | $439.2M | ||
| Q2 25 | $821.4M | $547.6M | ||
| Q1 25 | $807.3M | $679.4M | ||
| Q4 24 | $885.1M | $479.1M | ||
| Q3 24 | $901.9M | $456.3M | ||
| Q2 24 | $904.5M | $435.0M | ||
| Q1 24 | $831.9M | $437.7M |
负债/权益比APLSGRND
| Q4 25 | — | 8.42× | ||
| Q3 25 | — | 3.94× | ||
| Q2 25 | — | 1.51× | ||
| Q1 25 | — | 0.90× | ||
| 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 | $24.8M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $24.5M |
| 自由现金流率自由现金流/营收 | -7.1% | 19.5% |
| 资本支出强度资本支出/营收 | 0.1% | 0.2% |
| 现金转化率经营现金流/净利润 | — | 1.22× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $140.8M |
8季度趋势，按日历期对齐
经营现金流APLSGRND
| Q4 25 | $-14.2M | $24.8M | ||
| Q3 25 | $108.5M | $55.4M | ||
| Q2 25 | $4.4M | $37.5M | ||
| Q1 25 | $-53.4M | $23.8M | ||
| Q4 24 | $19.4M | $29.5M | ||
| Q3 24 | $34.1M | $29.1M | ||
| Q2 24 | $-8.3M | $15.8M | ||
| Q1 24 | $-133.0M | $20.4M |
自由现金流APLSGRND
| Q4 25 | $-14.3M | $24.5M | ||
| Q3 25 | $108.3M | $55.2M | ||
| Q2 25 | $4.4M | $37.3M | ||
| Q1 25 | $-53.4M | $23.7M | ||
| Q4 24 | $19.3M | $29.3M | ||
| Q3 24 | — | $28.8M | ||
| Q2 24 | $-8.4M | $15.7M | ||
| Q1 24 | $-133.3M | $20.3M |
自由现金流率APLSGRND
| Q4 25 | -7.1% | 19.5% | ||
| Q3 25 | 23.6% | 47.7% | ||
| Q2 25 | 2.5% | 35.8% | ||
| Q1 25 | -32.0% | 25.2% | ||
| Q4 24 | 9.1% | 30.0% | ||
| Q3 24 | — | 32.2% | ||
| Q2 24 | -4.2% | 19.0% | ||
| Q1 24 | -77.3% | 26.9% |
资本支出强度APLSGRND
| Q4 25 | 0.1% | 0.2% | ||
| Q3 25 | 0.0% | 0.2% | ||
| Q2 25 | 0.0% | 0.2% | ||
| Q1 25 | 0.0% | 0.1% | ||
| Q4 24 | 0.0% | 0.3% | ||
| Q3 24 | 0.0% | 0.4% | ||
| Q2 24 | 0.0% | 0.2% | ||
| Q1 24 | 0.2% | 0.3% |
现金转化率APLSGRND
| Q4 25 | — | 1.22× | ||
| Q3 25 | 0.50× | 1.80× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | 0.88× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.18× | ||
| 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% |
GRND
| License And Service | $102.9M | 82% |
| Advertising | $23.1M | 18% |
