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Apellis Pharmaceuticals, Inc.（APLS）与Lovesac Co（LOVE）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Lovesac Co的1.3倍（$199.9M vs $150.2M），Lovesac Co净利率更高（-7.0% vs -29.5%，领先22.5%），Lovesac Co同比增速更快（0.2% vs -5.9%），Lovesac Co自由现金流更多（$-10.2M vs $-14.3M），过去两年Apellis Pharmaceuticals, Inc.的营收复合增速更高（7.7% vs -22.6%）
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。
Lovesac是美国的家具零售商，主打拥有专利的Sactionals模块化沙发系统，该系统由可自由组合的座部、侧部模块，以及定制沙发套和相关配件组成。除模块化沙发外，品牌还销售采用独家发泡混合材料填充的袋式懒人座椅。
APLS vs LOVE — 直观对比
营收规模更大
APLS
是对方的1.3倍
$150.2M
营收增速更快
LOVE
高出6.1%
-5.9%
净利率更高
LOVE
高出22.5%
-29.5%
自由现金流更多
LOVE
多$4.1M
$-14.3M
两年增速更快
APLS
近两年复合增速
-22.6%
损益表 — Q4 FY2025 vs Q3 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $150.2M |
| 净利润 | $-59.0M | $-10.6M |
| 毛利率 | — | 56.1% |
| 营业利润率 | -25.6% | -10.5% |
| 净利率 | -29.5% | -7.0% |
| 营收同比 | -5.9% | 0.2% |
| 净利润同比 | -62.2% | -114.0% |
| 每股收益（稀释后） | $-0.40 | $-0.72 |
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APLSLOVE
| Q4 25 | $199.9M | $150.2M | ||
| Q3 25 | $458.6M | $160.5M | ||
| Q2 25 | $178.5M | $138.4M | ||
| Q1 25 | $166.8M | $241.5M | ||
| Q4 24 | $212.5M | $149.9M | ||
| Q3 24 | $196.8M | $156.6M | ||
| Q2 24 | $199.7M | $132.6M | ||
| Q1 24 | $172.3M | $250.5M |
净利润APLSLOVE
| Q4 25 | $-59.0M | $-10.6M | ||
| Q3 25 | $215.7M | $-6.7M | ||
| Q2 25 | $-42.2M | $-10.8M | ||
| Q1 25 | $-92.2M | $35.3M | ||
| Q4 24 | $-36.4M | $-4.9M | ||
| Q3 24 | $-57.4M | $-5.9M | ||
| Q2 24 | $-37.7M | $-13.0M | ||
| Q1 24 | $-66.4M | $31.0M |
毛利率APLSLOVE
| Q4 25 | — | 56.1% | ||
| Q3 25 | — | 56.4% | ||
| Q2 25 | — | 53.7% | ||
| Q1 25 | — | 60.4% | ||
| Q4 24 | — | 58.5% | ||
| Q3 24 | — | 59.0% | ||
| Q2 24 | — | 54.3% | ||
| Q1 24 | — | 59.7% |
营业利润率APLSLOVE
| Q4 25 | -25.6% | -10.5% | ||
| Q3 25 | 48.7% | -5.5% | ||
| Q2 25 | -18.6% | -10.8% | ||
| Q1 25 | -50.0% | 19.7% | ||
| Q4 24 | -12.3% | -5.2% | ||
| Q3 24 | -24.0% | -5.3% | ||
| Q2 24 | -14.7% | -13.5% | ||
| Q1 24 | -36.0% | 16.1% |
净利率APLSLOVE
| Q4 25 | -29.5% | -7.0% | ||
| Q3 25 | 47.0% | -4.1% | ||
| Q2 25 | -23.6% | -7.8% | ||
| Q1 25 | -55.3% | 14.6% | ||
| Q4 24 | -17.1% | -3.3% | ||
| Q3 24 | -29.2% | -3.7% | ||
| Q2 24 | -18.9% | -9.8% | ||
| Q1 24 | -38.5% | 12.4% |
每股收益（稀释后）APLSLOVE
| Q4 25 | $-0.40 | $-0.72 | ||
| Q3 25 | $1.67 | $-0.45 | ||
| Q2 25 | $-0.33 | $-0.73 | ||
| Q1 25 | $-0.74 | $2.22 | ||
| Q4 24 | $-0.30 | $-0.32 | ||
| Q3 24 | $-0.46 | $-0.38 | ||
| Q2 24 | $-0.30 | $-0.83 | ||
| Q1 24 | $-0.54 | $1.91 |
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 | $23.7M |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $370.1M | $189.3M |
| 总资产 | $1.1B | $495.5M |
| 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APLSLOVE
| Q4 25 | $466.2M | $23.7M | ||
| Q3 25 | $479.2M | $34.2M | ||
| Q2 25 | $370.0M | $26.9M | ||
| Q1 25 | $358.4M | $83.7M | ||
| Q4 24 | $411.3M | $61.7M | ||
| Q3 24 | $396.9M | $72.1M | ||
| Q2 24 | $360.1M | $72.4M | ||
| Q1 24 | $325.9M | $87.0M |
总债务APLSLOVE
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $93.1M | — |
股东权益APLSLOVE
| Q4 25 | $370.1M | $189.3M | ||
| Q3 25 | $401.2M | $197.5M | ||
| Q2 25 | $156.3M | $201.2M | ||
| Q1 25 | $164.2M | $216.4M | ||
| Q4 24 | $228.5M | $196.5M | ||
| Q3 24 | $237.1M | $202.1M | ||
| Q2 24 | $264.3M | $205.3M | ||
| Q1 24 | $266.7M | $217.5M |
总资产APLSLOVE
| Q4 25 | $1.1B | $495.5M | ||
| Q3 25 | $1.1B | $493.7M | ||
| Q2 25 | $821.4M | $483.7M | ||
| Q1 25 | $807.3M | $532.3M | ||
| Q4 24 | $885.1M | $499.7M | ||
| Q3 24 | $901.9M | $481.1M | ||
| Q2 24 | $904.5M | $477.2M | ||
| Q1 24 | $831.9M | $482.2M |
负债/权益比APLSLOVE
| 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 | $-4.9M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-10.2M |
| 自由现金流率自由现金流/营收 | -7.1% | -6.8% |
| 资本支出强度资本支出/营收 | 0.1% | 3.5% |
| 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 | $-13.6M |
8季度趋势，按日历期对齐
经营现金流APLSLOVE
| Q4 25 | $-14.2M | $-4.9M | ||
| Q3 25 | $108.5M | $12.2M | ||
| Q2 25 | $4.4M | $-41.4M | ||
| Q1 25 | $-53.4M | $44.0M | ||
| Q4 24 | $19.4M | $-4.2M | ||
| Q3 24 | $34.1M | $6.2M | ||
| Q2 24 | $-8.3M | $-7.0M | ||
| Q1 24 | $-133.0M | $56.3M |
自由现金流APLSLOVE
| Q4 25 | $-14.3M | $-10.2M | ||
| Q3 25 | $108.3M | $7.8M | ||
| Q2 25 | $4.4M | $-50.0M | ||
| Q1 25 | $-53.4M | $38.7M | ||
| Q4 24 | $19.3M | $-6.6M | ||
| Q3 24 | — | $119.0K | ||
| Q2 24 | $-8.4M | $-14.3M | ||
| Q1 24 | $-133.3M | $49.5M |
自由现金流率APLSLOVE
| Q4 25 | -7.1% | -6.8% | ||
| Q3 25 | 23.6% | 4.9% | ||
| Q2 25 | 2.5% | -36.1% | ||
| Q1 25 | -32.0% | 16.0% | ||
| Q4 24 | 9.1% | -4.4% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | -4.2% | -10.8% | ||
| Q1 24 | -77.3% | 19.8% |
资本支出强度APLSLOVE
| Q4 25 | 0.1% | 3.5% | ||
| Q3 25 | 0.0% | 2.7% | ||
| Q2 25 | 0.0% | 6.2% | ||
| Q1 25 | 0.0% | 2.2% | ||
| Q4 24 | 0.0% | 1.6% | ||
| Q3 24 | 0.0% | 3.9% | ||
| Q2 24 | 0.0% | 5.5% | ||
| Q1 24 | 0.2% | 2.7% |
现金转化率APLSLOVE
| Q4 25 | — | — | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 1.25× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 1.82× |
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% |
LOVE
| Showrooms | $102.7M | 68% |
| Internet | $37.3M | 25% |
| Other | $10.2M | 7% |
