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Digital Turbine, Inc.（APPS）与Vericel Corp（VCEL）财务数据对比。点击上方公司名可切换其他公司
Digital Turbine, Inc.的季度营收约是Vericel Corp的1.6倍（$151.4M vs $92.9M），Vericel Corp净利率更高（25.0% vs 3.4%，领先21.6%），Vericel Corp同比增速更快（23.3% vs 12.4%），过去两年Vericel Corp的营收复合增速更高（34.6% vs 16.2%）
Digital Turbine是一家全球移动广告科技企业，为移动运营商、设备厂商及应用开发者提供端到端的应用变现、用户获取和定向广告解决方案，业务覆盖北美、欧洲、亚太地区，服务电信、移动科技、消费应用等多个核心领域。
Vericel Corp是一家美国上市生物制药企业，前身为1989年在密歇根州安娜堡成立的Aastrom Bio，2014年10月正式更为现名，专注于生物制药相关领域的研发与商业化运营。
APPS vs VCEL — 直观对比
营收规模更大
APPS
是对方的1.6倍
$92.9M
营收增速更快
VCEL
高出10.8%
12.4%
净利率更高
VCEL
高出21.6%
3.4%
两年增速更快
VCEL
近两年复合增速
16.2%
损益表 — Q3 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $151.4M | $92.9M |
| 净利润 | $5.1M | $23.2M |
| 毛利率 | 57.4% | 78.7% |
| 营业利润率 | 14.3% | 24.1% |
| 净利率 | 3.4% | 25.0% |
| 营收同比 | 12.4% | 23.3% |
| 净利润同比 | 122.1% | 17.3% |
| 每股收益（稀释后） | $0.03 | $0.46 |
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APPSVCEL
| Q4 25 | $151.4M | $92.9M | ||
| Q3 25 | $140.4M | $67.5M | ||
| Q2 25 | $130.9M | $63.2M | ||
| Q1 25 | $119.2M | $52.6M | ||
| Q4 24 | $134.6M | $75.4M | ||
| Q3 24 | $118.7M | $57.9M | ||
| Q2 24 | $118.0M | $52.7M | ||
| Q1 24 | $112.2M | $51.3M |
净利润APPSVCEL
| Q4 25 | $5.1M | $23.2M | ||
| Q3 25 | $-21.4M | $5.1M | ||
| Q2 25 | $-14.1M | $-553.0K | ||
| Q1 25 | $-18.8M | $-11.2M | ||
| Q4 24 | $-23.1M | $19.8M | ||
| Q3 24 | $-25.0M | $-901.0K | ||
| Q2 24 | $-25.2M | $-4.7M | ||
| Q1 24 | $-236.5M | $-3.9M |
毛利率APPSVCEL
| Q4 25 | 57.4% | 78.7% | ||
| Q3 25 | 55.1% | 73.5% | ||
| Q2 25 | 55.6% | 73.7% | ||
| Q1 25 | 55.4% | 69.0% | ||
| Q4 24 | 48.0% | 77.6% | ||
| Q3 24 | 52.6% | 71.9% | ||
| Q2 24 | 52.7% | 69.5% | ||
| Q1 24 | 52.3% | 68.9% |
营业利润率APPSVCEL
| Q4 25 | 14.3% | 24.1% | ||
| Q3 25 | 4.7% | 5.1% | ||
| Q2 25 | -3.6% | -3.2% | ||
| Q1 25 | -9.8% | -24.3% | ||
| Q4 24 | -9.5% | 24.5% | ||
| Q3 24 | -11.4% | -4.3% | ||
| Q2 24 | -13.6% | -11.5% | ||
| Q1 24 | -185.2% | -10.7% |
净利率APPSVCEL
| Q4 25 | 3.4% | 25.0% | ||
| Q3 25 | -15.2% | 7.5% | ||
| Q2 25 | -10.8% | -0.9% | ||
| Q1 25 | -15.8% | -21.4% | ||
| Q4 24 | -17.2% | 26.3% | ||
| Q3 24 | -21.0% | -1.6% | ||
| Q2 24 | -21.3% | -8.9% | ||
| Q1 24 | -210.7% | -7.5% |
每股收益（稀释后）APPSVCEL
| Q4 25 | $0.03 | $0.46 | ||
| Q3 25 | $-0.20 | $0.10 | ||
| Q2 25 | $-0.13 | $-0.01 | ||
| Q1 25 | $-0.18 | $-0.23 | ||
| Q4 24 | $-0.22 | $0.40 | ||
| Q3 24 | $-0.24 | $-0.02 | ||
| Q2 24 | $-0.25 | $-0.10 | ||
| Q1 24 | $-2.33 | $-0.08 |
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 | $40.2M | $137.5M |
| 总债务越低越好 | $355.0M | — |
| 股东权益账面价值 | $194.6M | $354.6M |
| 总资产 | $858.2M | $488.0M |
| 负债/权益比越低杠杆越低 | 1.82× | — |
8季度趋势，按日历期对齐
现金及短期投资APPSVCEL
| Q4 25 | $40.2M | $137.5M | ||
| Q3 25 | $38.8M | $135.4M | ||
| Q2 25 | $33.4M | $116.9M | ||
| Q1 25 | $39.4M | $112.9M | ||
| Q4 24 | $34.6M | $116.2M | ||
| Q3 24 | $32.1M | $101.7M | ||
| Q2 24 | $35.0M | $102.5M | ||
| Q1 24 | $32.9M | $110.6M |
总债务APPSVCEL
| Q4 25 | $355.0M | — | ||
| Q3 25 | $396.4M | — | ||
| Q2 25 | $400.5M | — | ||
| Q1 25 | $408.7M | — | ||
| Q4 24 | $408.2M | — | ||
| Q3 24 | $407.6M | — | ||
| Q2 24 | $393.8M | — | ||
| Q1 24 | $383.5M | — |
股东权益APPSVCEL
| Q4 25 | $194.6M | $354.6M | ||
| Q3 25 | $148.1M | $321.9M | ||
| Q2 25 | $152.3M | $306.8M | ||
| Q1 25 | $154.0M | $295.5M | ||
| Q4 24 | $163.6M | $292.0M | ||
| Q3 24 | $182.4M | $257.5M | ||
| Q2 24 | $196.0M | $243.0M | ||
| Q1 24 | $213.9M | $233.9M |
总资产APPSVCEL
| Q4 25 | $858.2M | $488.0M | ||
| Q3 25 | $818.7M | $453.3M | ||
| Q2 25 | $818.4M | $435.6M | ||
| Q1 25 | $812.9M | $424.6M | ||
| Q4 24 | $839.7M | $432.7M | ||
| Q3 24 | $844.5M | $390.4M | ||
| Q2 24 | $860.2M | $376.8M | ||
| Q1 24 | $865.5M | $356.7M |
负债/权益比APPSVCEL
| Q4 25 | 1.82× | — | ||
| Q3 25 | 2.68× | — | ||
| Q2 25 | 2.63× | — | ||
| Q1 25 | 2.65× | — | ||
| Q4 24 | 2.50× | — | ||
| Q3 24 | 2.24× | — | ||
| Q2 24 | 2.01× | — | ||
| Q1 24 | 1.79× | — |
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 | $15.0M |
| 自由现金流经营现金流 - 资本支出 | — | $12.8M |
| 自由现金流率自由现金流/营收 | — | 13.8% |
| 资本支出强度资本支出/营收 | — | 2.4% |
| 现金转化率经营现金流/净利润 | 2.78× | 0.65× |
| 过去12个月自由现金流最近4个季度 | — | $24.7M |
8季度趋势，按日历期对齐
经营现金流APPSVCEL
| Q4 25 | $14.2M | $15.0M | ||
| Q3 25 | $14.5M | $22.1M | ||
| Q2 25 | $8.8M | $8.2M | ||
| Q1 25 | $11.9M | $6.6M | ||
| Q4 24 | $10.4M | $22.2M | ||
| Q3 24 | $-8.7M | $10.2M | ||
| Q2 24 | $-1.4M | $18.5M | ||
| Q1 24 | $28.7M | $7.2M |
自由现金流APPSVCEL
| Q4 25 | — | $12.8M | ||
| Q3 25 | — | $19.5M | ||
| Q2 25 | — | $81.0K | ||
| Q1 25 | — | $-7.6M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $-9.2M | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | — | $-6.8M |
自由现金流率APPSVCEL
| Q4 25 | — | 13.8% | ||
| Q3 25 | — | 28.8% | ||
| Q2 25 | — | 0.1% | ||
| Q1 25 | — | -14.5% | ||
| Q4 24 | — | 11.2% | ||
| Q3 24 | — | -15.9% | ||
| Q2 24 | — | 3.4% | ||
| Q1 24 | — | -13.3% |
资本支出强度APPSVCEL
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 3.9% | ||
| Q2 25 | — | 12.9% | ||
| Q1 25 | — | 27.0% | ||
| Q4 24 | — | 18.3% | ||
| Q3 24 | — | 33.5% | ||
| Q2 24 | — | 31.8% | ||
| Q1 24 | — | 27.3% |
现金转化率APPSVCEL
| Q4 25 | 2.78× | 0.65× | ||
| Q3 25 | — | 4.35× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.12× | ||
| 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
APPS
| On Device Solutions | $99.6M | 66% |
| App Growth Platform | $52.6M | 35% |
VCEL
| MACI Implants And Kits | $84.1M | 90% |
| Other | $8.8M | 10% |
