vs
Assertio Holdings, Inc.（ASRT）与Direct Digital Holdings, Inc.（DRCT）财务数据对比。点击上方公司名可切换其他公司
Assertio Holdings, Inc.的季度营收约是Direct Digital Holdings, Inc.的1.6倍（$13.5M vs $8.4M），Direct Digital Holdings, Inc.同比增速更快（-7.4% vs -57.9%），过去两年Assertio Holdings, Inc.的营收复合增速更高（-35.4% vs -38.6%）
Assertio Therapeutics是一家美国专业制药企业，主要聚焦神经病学、疼痛以及中枢神经系统疾病领域的产品销售与推广。公司前身Depomed成立于1995年，总部位于加利福尼亚州纽瓦克，拥有多款获美国FDA批准的产品，目前在纳斯达克上市。
Devolver Digital是一家总部位于美国得克萨斯州奥斯汀的电子游戏发行商，专注于独立游戏发行业务。公司由奈杰尔·劳里等五名曾就职于知名游戏发行公司Gathering of Developers和Gamecock Media Group的高管，于2009年6月创立，以对开发者友好的合作模式著称。
ASRT vs DRCT — 直观对比
营收规模更大
ASRT
是对方的1.6倍
$8.4M
营收增速更快
DRCT
高出50.5%
-57.9%
两年增速更快
ASRT
近两年复合增速
-38.6%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $13.5M | $8.4M |
| 净利润 | — | $-11.7M |
| 毛利率 | — | 26.8% |
| 营业利润率 | -86.7% | -53.4% |
| 净利率 | — | -138.7% |
| 营收同比 | -57.9% | -7.4% |
| 净利润同比 | — | -434.7% |
| 每股收益（稀释后） | $-4.54 | $-74.97 |
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ASRTDRCT
| Q4 25 | $13.5M | $8.4M | ||
| Q3 25 | $49.5M | $8.0M | ||
| Q2 25 | $29.2M | $10.1M | ||
| Q1 25 | $26.5M | $8.2M | ||
| Q4 24 | $32.2M | $9.1M | ||
| Q3 24 | $29.2M | $9.1M | ||
| Q2 24 | $31.1M | $21.9M | ||
| Q1 24 | $32.4M | $22.3M |
净利润ASRTDRCT
| Q4 25 | — | $-11.7M | ||
| Q3 25 | $11.4M | $-2.7M | ||
| Q2 25 | $-16.4M | $-2.2M | ||
| Q1 25 | $-13.5M | $-2.4M | ||
| Q4 24 | — | $-2.2M | ||
| Q3 24 | $-2.9M | $-2.7M | ||
| Q2 24 | $-3.7M | $-590.0K | ||
| Q1 24 | $-4.5M | $-775.0K |
毛利率ASRTDRCT
| Q4 25 | — | 26.8% | ||
| Q3 25 | — | 27.7% | ||
| Q2 25 | — | 35.1% | ||
| Q1 25 | — | 29.3% | ||
| Q4 24 | — | 32.5% | ||
| Q3 24 | — | 38.7% | ||
| Q2 24 | — | 27.1% | ||
| Q1 24 | — | 22.4% |
营业利润率ASRTDRCT
| Q4 25 | -86.7% | -53.4% | ||
| Q3 25 | 23.2% | -49.0% | ||
| Q2 25 | -27.5% | -23.9% | ||
| Q1 25 | -50.0% | -48.1% | ||
| Q4 24 | -41.9% | -51.8% | ||
| Q3 24 | -10.4% | -40.3% | ||
| Q2 24 | -11.6% | -9.4% | ||
| Q1 24 | -13.4% | -12.6% |
净利率ASRTDRCT
| Q4 25 | — | -138.7% | ||
| Q3 25 | 23.1% | -33.6% | ||
| Q2 25 | -56.0% | -22.2% | ||
| Q1 25 | -51.1% | -28.9% | ||
| Q4 24 | — | -24.0% | ||
| Q3 24 | -10.0% | -29.6% | ||
| Q2 24 | -11.8% | -2.7% | ||
| Q1 24 | -13.9% | -3.5% |
每股收益（稀释后）ASRTDRCT
| Q4 25 | $-4.54 | $-74.97 | ||
| Q3 25 | $0.11 | $-0.24 | ||
| Q2 25 | $-0.17 | $-0.23 | ||
| Q1 25 | $-0.14 | $-0.35 | ||
| Q4 24 | $-3.28 | $-90.17 | ||
| Q3 24 | $-0.03 | $-0.71 | ||
| Q2 24 | $-0.04 | $-0.16 | ||
| Q1 24 | $-0.05 | $-0.22 |
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 | $63.4M | $728.0K |
| 总债务越低越好 | — | — |
| 股东权益账面价值 | $94.0M | $-7.0M |
| 总资产 | $267.0M | $20.2M |
| 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ASRTDRCT
| Q4 25 | $63.4M | $728.0K | ||
| Q3 25 | $93.4M | $871.0K | ||
| Q2 25 | $98.2M | $1.6M | ||
| Q1 25 | $87.3M | $1.8M | ||
| Q4 24 | $100.1M | $1.4M | ||
| Q3 24 | $88.6M | $4.1M | ||
| Q2 24 | $88.4M | $1.1M | ||
| Q1 24 | $80.7M | $3.3M |
总债务ASRTDRCT
| Q4 25 | — | — | ||
| Q3 25 | — | $10.8M | ||
| Q2 25 | — | $33.5M | ||
| Q1 25 | — | $32.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $150.0K | ||
| Q2 24 | — | $34.8M | ||
| Q1 24 | $38.6M | $32.4M |
股东权益ASRTDRCT
| Q4 25 | $94.0M | $-7.0M | ||
| Q3 25 | $105.8M | $-6.7M | ||
| Q2 25 | $93.3M | $-24.6M | ||
| Q1 25 | $108.5M | $-23.3M | ||
| Q4 24 | $121.1M | $-19.7M | ||
| Q3 24 | $130.5M | $-16.7M | ||
| Q2 24 | $132.2M | $-10.5M | ||
| Q1 24 | $134.5M | $-7.5M |
总资产ASRTDRCT
| Q4 25 | $267.0M | $20.2M | ||
| Q3 25 | $319.8M | $22.5M | ||
| Q2 25 | $273.8M | $23.3M | ||
| Q1 25 | $286.4M | $23.8M | ||
| Q4 24 | $284.7M | $26.0M | ||
| Q3 24 | $276.0M | $31.3M | ||
| Q2 24 | $279.4M | $48.5M | ||
| Q1 24 | $282.0M | $52.8M |
负债/权益比ASRTDRCT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.29× | — |
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 | $-30.0M | $-1.9M |
| 自由现金流经营现金流 - 资本支出 | — | — |
| 自由现金流率自由现金流/营收 | — | — |
| 资本支出强度资本支出/营收 | — | — |
| 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 | — | — |
8季度趋势，按日历期对齐
经营现金流ASRTDRCT
| Q4 25 | $-30.0M | $-1.9M | ||
| Q3 25 | $-4.8M | $-1.6M | ||
| Q2 25 | $19.1M | $-2.7M | ||
| Q1 25 | $-12.5M | $-2.7M | ||
| Q4 24 | $11.5M | $-1.6M | ||
| Q3 24 | $-35.0K | $3.0M | ||
| Q2 24 | $7.4M | $-4.4M | ||
| Q1 24 | $7.5M | $-5.7M |
资本支出强度ASRTDRCT
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
现金转化率ASRTDRCT
| Q4 25 | — | — | ||
| Q3 25 | -0.42× | — | ||
| 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
ASRT
| Products | $12.8M | 95% |
| Other | $719.0K | 5% |
DRCT
| Buy Side Advertising | $8.2M | 98% |
| Other | $183.0K | 2% |
