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Apellis Pharmaceuticals, Inc.（APLS）与Gitlab Inc.（GTLB）财务数据对比。点击上方公司名可切换其他公司
Gitlab Inc.的季度营收约是Apellis Pharmaceuticals, Inc.的1.2倍（$244.4M vs $199.9M），Gitlab Inc.净利率更高（-3.4% vs -29.5%，领先26.1%），Gitlab Inc.同比增速更快（24.6% vs -5.9%），Gitlab Inc.自由现金流更多（$28.4M vs $-14.3M），过去两年Gitlab Inc.的营收复合增速更高（22.1% 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。
GitLab Inc.是一家美国企业，开发并运营同名开放核心架构DevOps软件平台，覆盖软件开发、安全防护、运维运营全流程。产品基于Git分布式版本控制技术搭建，还为各项目提供访问控制、缺陷追踪、需求管理、任务调度、项目知识库、代码片段分享等全栈协作功能。
APLS vs GTLB — 直观对比
营收规模更大
GTLB
是对方的1.2倍
$199.9M
营收增速更快
GTLB
高出30.6%
-5.9%
净利率更高
GTLB
高出26.1%
-29.5%
自由现金流更多
GTLB
多$42.7M
$-14.3M
两年增速更快
GTLB
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $244.4M |
| 净利润 | $-59.0M | $-8.3M |
| 毛利率 | — | 86.8% |
| 营业利润率 | -25.6% | -5.1% |
| 净利率 | -29.5% | -3.4% |
| 营收同比 | -5.9% | 24.6% |
| 净利润同比 | -62.2% | -128.0% |
| 每股收益（稀释后） | $-0.40 | $-0.05 |
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APLSGTLB
| Q4 25 | $199.9M | $244.4M | ||
| Q3 25 | $458.6M | $236.0M | ||
| Q2 25 | $178.5M | $214.5M | ||
| Q1 25 | $166.8M | $211.4M | ||
| Q4 24 | $212.5M | $196.0M | ||
| Q3 24 | $196.8M | $182.6M | ||
| Q2 24 | $199.7M | $169.2M | ||
| Q1 24 | $172.3M | $163.8M |
净利润APLSGTLB
| Q4 25 | $-59.0M | $-8.3M | ||
| Q3 25 | $215.7M | $-9.2M | ||
| Q2 25 | $-42.2M | $-35.9M | ||
| Q1 25 | $-92.2M | $5.8M | ||
| Q4 24 | $-36.4M | $29.6M | ||
| Q3 24 | $-57.4M | $12.9M | ||
| Q2 24 | $-37.7M | $-54.6M | ||
| Q1 24 | $-66.4M | $-36.5M |
毛利率APLSGTLB
| Q4 25 | — | 86.8% | ||
| Q3 25 | — | 87.9% | ||
| Q2 25 | — | 88.3% | ||
| Q1 25 | — | 89.2% | ||
| Q4 24 | — | 88.7% | ||
| Q3 24 | — | 88.3% | ||
| Q2 24 | — | 88.9% | ||
| Q1 24 | — | 90.2% |
营业利润率APLSGTLB
| Q4 25 | -25.6% | -5.1% | ||
| Q3 25 | 48.7% | -7.8% | ||
| Q2 25 | -18.6% | -16.1% | ||
| Q1 25 | -50.0% | -9.1% | ||
| Q4 24 | -12.3% | -14.7% | ||
| Q3 24 | -24.0% | -22.5% | ||
| Q2 24 | -14.7% | -31.7% | ||
| Q1 24 | -36.0% | -21.3% |
净利率APLSGTLB
| Q4 25 | -29.5% | -3.4% | ||
| Q3 25 | 47.0% | -3.9% | ||
| Q2 25 | -23.6% | -16.7% | ||
| Q1 25 | -55.3% | 2.7% | ||
| Q4 24 | -17.1% | 15.1% | ||
| Q3 24 | -29.2% | 7.1% | ||
| Q2 24 | -18.9% | -32.3% | ||
| Q1 24 | -38.5% | -22.3% |
每股收益（稀释后）APLSGTLB
| Q4 25 | $-0.40 | $-0.05 | ||
| Q3 25 | $1.67 | $-0.06 | ||
| Q2 25 | $-0.33 | $-0.22 | ||
| Q1 25 | $-0.74 | $0.05 | ||
| Q4 24 | $-0.30 | $0.18 | ||
| Q3 24 | $-0.46 | $0.08 | ||
| Q2 24 | $-0.30 | $-0.35 | ||
| Q1 24 | $-0.54 | $-0.23 |
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 | $224.2M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $922.7M |
| 总资产 | $1.1B | $1.6B |
| 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APLSGTLB
| Q4 25 | $466.2M | $224.2M | ||
| Q3 25 | $479.2M | $261.4M | ||
| Q2 25 | $370.0M | $255.7M | ||
| Q1 25 | $358.4M | $227.6M | ||
| Q4 24 | $411.3M | $176.6M | ||
| Q3 24 | $396.9M | $438.6M | ||
| Q2 24 | $360.1M | $420.3M | ||
| Q1 24 | $325.9M | $288.0M |
总债务APLSGTLB
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSGTLB
| Q4 25 | $370.1M | $922.7M | ||
| Q3 25 | $401.2M | $866.6M | ||
| Q2 25 | $156.3M | $808.3M | ||
| Q1 25 | $164.2M | $775.9M | ||
| Q4 24 | $228.5M | $724.7M | ||
| Q3 24 | $237.1M | $642.8M | ||
| Q2 24 | $264.3M | $567.8M | ||
| Q1 24 | $266.7M | $571.2M |
总资产APLSGTLB
| Q4 25 | $1.1B | $1.6B | ||
| Q3 25 | $1.1B | $1.5B | ||
| Q2 25 | $821.4M | $1.4B | ||
| Q1 25 | $807.3M | $1.4B | ||
| Q4 24 | $885.1M | $1.3B | ||
| Q3 24 | $901.9M | $1.4B | ||
| Q2 24 | $904.5M | $1.3B | ||
| Q1 24 | $831.9M | $1.3B |
负债/权益比APLSGTLB
| 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 | $31.4M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $28.4M |
| 自由现金流率自由现金流/营收 | -7.1% | 11.6% |
| 资本支出强度资本支出/营收 | 0.1% | 1.2% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | $45.0M | $242.3M |
8季度趋势，按日历期对齐
经营现金流APLSGTLB
| Q4 25 | $-14.2M | $31.4M | ||
| Q3 25 | $108.5M | $49.4M | ||
| Q2 25 | $4.4M | $106.3M | ||
| Q1 25 | $-53.4M | $63.2M | ||
| Q4 24 | $19.4M | $-177.0M | ||
| Q3 24 | $34.1M | $11.7M | ||
| Q2 24 | $-8.3M | $38.1M | ||
| Q1 24 | $-133.0M | $24.9M |
自由现金流APLSGTLB
| Q4 25 | $-14.3M | $28.4M | ||
| Q3 25 | $108.3M | $46.5M | ||
| Q2 25 | $4.4M | $105.4M | ||
| Q1 25 | $-53.4M | $62.1M | ||
| Q4 24 | $19.3M | $-178.1M | ||
| Q3 24 | — | $10.8M | ||
| Q2 24 | $-8.4M | $37.4M | ||
| Q1 24 | $-133.3M | $24.5M |
自由现金流率APLSGTLB
| Q4 25 | -7.1% | 11.6% | ||
| Q3 25 | 23.6% | 19.7% | ||
| Q2 25 | 2.5% | 49.1% | ||
| Q1 25 | -32.0% | 29.4% | ||
| Q4 24 | 9.1% | -90.8% | ||
| Q3 24 | — | 5.9% | ||
| Q2 24 | -4.2% | 22.1% | ||
| Q1 24 | -77.3% | 15.0% |
资本支出强度APLSGTLB
| Q4 25 | 0.1% | 1.2% | ||
| Q3 25 | 0.0% | 1.2% | ||
| Q2 25 | 0.0% | 0.4% | ||
| Q1 25 | 0.0% | 0.5% | ||
| Q4 24 | 0.0% | 0.5% | ||
| Q3 24 | 0.0% | 0.5% | ||
| Q2 24 | 0.0% | 0.4% | ||
| Q1 24 | 0.2% | 0.2% |
现金转化率APLSGTLB
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 10.89× | ||
| Q4 24 | — | -5.99× | ||
| Q3 24 | — | 0.90× | ||
| 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% |
GTLB
| Subscription And Circulation | $146.4M | 60% |
| Subscription Software As A Service | $76.9M | 31% |
| License | $15.5M | 6% |
| Professional Services And Other | $5.6M | 2% |
