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Apellis Pharmaceuticals, Inc.（APLS）与LESAKA TECHNOLOGIES INC（LSAK）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LESAKA TECHNOLOGIES INC的1.1倍（$199.9M vs $178.7M），LESAKA TECHNOLOGIES INC净利率更高（2.0% vs -29.5%，领先31.5%），LESAKA TECHNOLOGIES INC同比增速更快（1.4% vs -5.9%），Apellis Pharmaceuticals, Inc.自由现金流更多（$-14.3M vs $-14.8M），过去两年LESAKA TECHNOLOGIES INC的营收复合增速更高（13.7% 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。
莱萨卡科技是一家总部位于南非的金融科技公司，目前同时在纳斯达克交易所与约翰内斯堡证券交易所挂牌上市。公司核心业务聚焦于金融普惠，面向此前金融服务覆盖不足的社区与商户提供各类金融服务。
APLS vs LSAK — 直观对比
营收规模更大
APLS
是对方的1.1倍
$178.7M
营收增速更快
LSAK
高出7.4%
-5.9%
净利率更高
LSAK
高出31.5%
-29.5%
自由现金流更多
APLS
多$554.0K
$-14.8M
两年增速更快
LSAK
近两年复合增速
7.7%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $199.9M | $178.7M |
| 净利润 | $-59.0M | $3.6M |
| 毛利率 | — | 31.4% |
| 营业利润率 | -25.6% | 1.2% |
| 净利率 | -29.5% | 2.0% |
| 营收同比 | -5.9% | 1.4% |
| 净利润同比 | -62.2% | 111.2% |
| 每股收益（稀释后） | $-0.40 | $0.04 |
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APLSLSAK
| Q4 25 | $199.9M | $178.7M | ||
| Q3 25 | $458.6M | $171.4M | ||
| Q2 25 | $178.5M | $168.5M | ||
| Q1 25 | $166.8M | $161.4M | ||
| Q4 24 | $212.5M | $176.2M | ||
| Q3 24 | $196.8M | $153.6M | ||
| Q2 24 | $199.7M | $146.0M | ||
| Q1 24 | $172.3M | $138.2M |
净利润APLSLSAK
| Q4 25 | $-59.0M | $3.6M | ||
| Q3 25 | $215.7M | $-4.3M | ||
| Q2 25 | $-42.2M | $-28.4M | ||
| Q1 25 | $-92.2M | $-22.1M | ||
| Q4 24 | $-36.4M | $-32.5M | ||
| Q3 24 | $-57.4M | $-4.5M | ||
| Q2 24 | $-37.7M | $-5.0M | ||
| Q1 24 | $-66.4M | $-4.0M |
毛利率APLSLSAK
| Q4 25 | — | 31.4% | ||
| Q3 25 | — | 30.9% | ||
| Q2 25 | — | 28.9% | ||
| Q1 25 | — | 27.5% | ||
| Q4 24 | — | 25.7% | ||
| Q3 24 | — | 22.6% | ||
| Q2 24 | — | 22.6% | ||
| Q1 24 | — | 22.0% |
营业利润率APLSLSAK
| Q4 25 | -25.6% | 1.2% | ||
| Q3 25 | 48.7% | 0.2% | ||
| Q2 25 | -18.6% | -16.7% | ||
| Q1 25 | -50.0% | 0.4% | ||
| Q4 24 | -12.3% | 0.3% | ||
| Q3 24 | -24.0% | -0.0% | ||
| Q2 24 | -14.7% | 0.2% | ||
| Q1 24 | -36.0% | 0.6% |
净利率APLSLSAK
| Q4 25 | -29.5% | 2.0% | ||
| Q3 25 | 47.0% | -2.5% | ||
| Q2 25 | -23.6% | -16.9% | ||
| Q1 25 | -55.3% | -13.7% | ||
| Q4 24 | -17.1% | -18.4% | ||
| Q3 24 | -29.2% | -3.0% | ||
| Q2 24 | -18.9% | -3.4% | ||
| Q1 24 | -38.5% | -2.9% |
每股收益（稀释后）APLSLSAK
| Q4 25 | $-0.40 | $0.04 | ||
| Q3 25 | $1.67 | $-0.05 | ||
| Q2 25 | $-0.33 | $-0.40 | ||
| Q1 25 | $-0.74 | $-0.27 | ||
| Q4 24 | $-0.30 | $-0.40 | ||
| Q3 24 | $-0.46 | $-0.07 | ||
| Q2 24 | $-0.30 | $-0.08 | ||
| Q1 24 | $-0.54 | $-0.06 |
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 | $69.5M |
| 总债务越低越好 | — | $216.8M |
| 股东权益账面价值 | $370.1M | $180.6M |
| 总资产 | $1.1B | $704.6M |
| 负债/权益比越低杠杆越低 | — | 1.20× |
8季度趋势，按日历期对齐
现金及短期投资APLSLSAK
| Q4 25 | $466.2M | $69.5M | ||
| Q3 25 | $479.2M | $72.2M | ||
| Q2 25 | $370.0M | $76.5M | ||
| Q1 25 | $358.4M | $71.0M | ||
| Q4 24 | $411.3M | $60.6M | ||
| Q3 24 | $396.9M | $49.7M | ||
| Q2 24 | $360.1M | $59.1M | ||
| Q1 24 | $325.9M | $55.2M |
总债务APLSLSAK
| Q4 25 | — | $216.8M | ||
| Q3 25 | — | $208.1M | ||
| Q2 25 | — | $200.8M | ||
| Q1 25 | — | $194.7M | ||
| Q4 24 | — | $148.7M | ||
| Q3 24 | — | $148.5M | ||
| Q2 24 | — | $143.2M | ||
| Q1 24 | $93.1M | $135.7M |
股东权益APLSLSAK
| Q4 25 | $370.1M | $180.6M | ||
| Q3 25 | $401.2M | $170.4M | ||
| Q2 25 | $156.3M | $161.6M | ||
| Q1 25 | $164.2M | $185.2M | ||
| Q4 24 | $228.5M | $193.3M | ||
| Q3 24 | $237.1M | $184.2M | ||
| Q2 24 | $264.3M | $175.9M | ||
| Q1 24 | $266.7M | $173.1M |
总资产APLSLSAK
| Q4 25 | $1.1B | $704.6M | ||
| Q3 25 | $1.1B | $652.9M | ||
| Q2 25 | $821.4M | $653.7M | ||
| Q1 25 | $807.3M | $649.2M | ||
| Q4 24 | $885.1M | $640.6M | ||
| Q3 24 | $901.9M | $551.9M | ||
| Q2 24 | $904.5M | $558.5M | ||
| Q1 24 | $831.9M | $551.5M |
负债/权益比APLSLSAK
| Q4 25 | — | 1.20× | ||
| Q3 25 | — | 1.22× | ||
| Q2 25 | — | 1.24× | ||
| Q1 25 | — | 1.05× | ||
| Q4 24 | — | 0.77× | ||
| Q3 24 | — | 0.81× | ||
| Q2 24 | — | 0.81× | ||
| Q1 24 | 0.35× | 0.78× |
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 | $-10.9M |
| 自由现金流经营现金流 - 资本支出 | $-14.3M | $-14.8M |
| 自由现金流率自由现金流/营收 | -7.1% | -8.3% |
| 资本支出强度资本支出/营收 | 0.1% | 2.2% |
| 现金转化率经营现金流/净利润 | — | -2.99× |
| 过去12个月自由现金流最近4个季度 | $45.0M | $-15.3M |
8季度趋势，按日历期对齐
经营现金流APLSLSAK
| Q4 25 | $-14.2M | $-10.9M | ||
| Q3 25 | $108.5M | $8.9M | ||
| Q2 25 | $4.4M | $-9.1M | ||
| Q1 25 | $-53.4M | $10.7M | ||
| Q4 24 | $19.4M | $-9.2M | ||
| Q3 24 | $34.1M | $-4.1M | ||
| Q2 24 | $-8.3M | $5.7M | ||
| Q1 24 | $-133.0M | $19.2M |
自由现金流APLSLSAK
| Q4 25 | $-14.3M | $-14.8M | ||
| Q3 25 | $108.3M | $4.9M | ||
| Q2 25 | $4.4M | $-13.2M | ||
| Q1 25 | $-53.4M | $7.8M | ||
| Q4 24 | $19.3M | $-15.5M | ||
| Q3 24 | — | $-8.1M | ||
| Q2 24 | $-8.4M | $937.0K | ||
| Q1 24 | $-133.3M | $16.2M |
自由现金流率APLSLSAK
| Q4 25 | -7.1% | -8.3% | ||
| Q3 25 | 23.6% | 2.9% | ||
| Q2 25 | 2.5% | -7.8% | ||
| Q1 25 | -32.0% | 4.9% | ||
| Q4 24 | 9.1% | -8.8% | ||
| Q3 24 | — | -5.3% | ||
| Q2 24 | -4.2% | 0.6% | ||
| Q1 24 | -77.3% | 11.7% |
资本支出强度APLSLSAK
| Q4 25 | 0.1% | 2.2% | ||
| Q3 25 | 0.0% | 2.3% | ||
| Q2 25 | 0.0% | 2.4% | ||
| Q1 25 | 0.0% | 1.7% | ||
| Q4 24 | 0.0% | 3.6% | ||
| Q3 24 | 0.0% | 2.6% | ||
| Q2 24 | 0.0% | 3.2% | ||
| Q1 24 | 0.2% | 2.1% |
现金转化率APLSLSAK
| Q4 25 | — | -2.99× | ||
| Q3 25 | 0.50× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| 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% |
LSAK
| Telecom Products And Services | $82.0M | 46% |
| Processing Fees | $37.6M | 21% |
| Enterprise Segment | $14.5M | 8% |
| Rest Of Africa | $10.9M | 6% |
| Technology Products | $8.6M | 5% |
| Insurance Revenue | $7.9M | 4% |
| Lending Revenue | $7.2M | 4% |
| Other | $6.7M | 4% |
| Interest From Customer | $2.1M | 1% |
| Other Products And Services | $1.2M | 1% |
