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Side-by-side financial comparison of ESTABLISHMENT LABS HOLDINGS INC. (ESTA) and LSI INDUSTRIES INC (LYTS), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
LSI INDUSTRIES INC is the larger business by last-quarter revenue ($147.0M vs $64.6M, roughly 2.3× ESTABLISHMENT LABS HOLDINGS INC.). On growth, ESTABLISHMENT LABS HOLDINGS INC. posted the faster year-over-year revenue change (45.2% vs -0.5%). LSI INDUSTRIES INC produced more free cash flow last quarter ($23.3M vs $-2.0M). Over the past eight quarters, ESTABLISHMENT LABS HOLDINGS INC.'s revenue compounded faster (31.9% CAGR vs 16.6%).
Astera Labs, Inc. is an American fabless semiconductor manufacturer and artificial intelligence company. The company specializes in designing high-speed connectivity solutions for data centers and AI infrastructure. The company has been listed on the Nasdaq since March 2024.
LSI Logic Corporation was an American ASIC and EDA company founded in Santa Clara, California. The company designed and sold semiconductors and software that accelerated storage and networking in data centers, mobile networks and client computing.
ESTA vs LYTS — Head-to-Head
Income Statement — Q4 2025 vs Q2 2026
| Metric | | |
|---|---|---|
| Revenue | $64.6M | $147.0M |
| Net Profit | — | $6.3M |
| Gross Margin | 70.5% | 25.5% |
| Operating Margin | -6.1% | 6.0% |
| Net Margin | — | 4.3% |
| Revenue YoY | 45.2% | -0.5% |
| Net Profit YoY | — | 12.4% |
| EPS (diluted) | $-0.07 | $0.20 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $64.6M | $147.0M | ||
| Q3 25 | $53.8M | $157.2M | ||
| Q2 25 | $51.3M | $155.1M | ||
| Q1 25 | $41.4M | $132.5M | ||
| Q4 24 | $44.5M | $147.7M | ||
| Q3 24 | $40.2M | $138.1M | ||
| Q2 24 | $44.1M | $129.0M | ||
| Q1 24 | $37.2M | $108.2M |
| Q4 25 | — | $6.3M | ||
| Q3 25 | $-11.1M | $7.3M | ||
| Q2 25 | $-16.6M | $8.2M | ||
| Q1 25 | $-20.7M | $3.9M | ||
| Q4 24 | — | $5.6M | ||
| Q3 24 | $-16.7M | $6.7M | ||
| Q2 24 | $-17.2M | $5.7M | ||
| Q1 24 | $-16.2M | $5.4M |
| Q4 25 | 70.5% | 25.5% | ||
| Q3 25 | 70.1% | 25.6% | ||
| Q2 25 | 68.8% | 26.1% | ||
| Q1 25 | 67.2% | 24.8% | ||
| Q4 24 | 68.5% | 23.6% | ||
| Q3 24 | 63.9% | 24.4% | ||
| Q2 24 | 65.6% | 26.2% | ||
| Q1 24 | 65.6% | 28.8% |
| Q4 25 | -6.1% | 6.0% | ||
| Q3 25 | -7.5% | 7.0% | ||
| Q2 25 | -27.5% | 7.7% | ||
| Q1 25 | -41.0% | 4.7% | ||
| Q4 24 | -41.9% | 5.7% | ||
| Q3 24 | -32.7% | 6.6% | ||
| Q2 24 | -21.2% | 7.0% | ||
| Q1 24 | -23.8% | 7.1% |
| Q4 25 | — | 4.3% | ||
| Q3 25 | -20.7% | 4.6% | ||
| Q2 25 | -32.3% | 5.3% | ||
| Q1 25 | -50.1% | 2.9% | ||
| Q4 24 | — | 3.8% | ||
| Q3 24 | -41.5% | 4.8% | ||
| Q2 24 | -38.9% | 4.4% | ||
| Q1 24 | -43.6% | 5.0% |
| Q4 25 | $-0.07 | $0.20 | ||
| Q3 25 | $-0.38 | $0.23 | ||
| Q2 25 | $-0.57 | $0.26 | ||
| Q1 25 | $-0.70 | $0.13 | ||
| Q4 24 | $-1.21 | $0.18 | ||
| Q3 24 | $-0.59 | $0.22 | ||
| Q2 24 | $-0.62 | $0.18 | ||
| Q1 24 | $-0.58 | $0.18 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $75.6M | $6.4M |
| Total DebtLower is stronger | — | $27.9M |
| Stockholders' EquityBook value | $23.5M | $248.1M |
| Total Assets | $357.2M | $396.3M |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $75.6M | $6.4M | ||
| Q3 25 | $70.6M | $7.1M | ||
| Q2 25 | $54.6M | $3.5M | ||
| Q1 25 | $69.2M | $4.3M | ||
| Q4 24 | $90.3M | $4.7M | ||
| Q3 24 | — | $7.0M | ||
| Q2 24 | — | $4.1M | ||
| Q1 24 | — | $7.2M |
| Q4 25 | — | $27.9M | ||
| Q3 25 | — | $50.7M | ||
| Q2 25 | — | $48.6M | ||
| Q1 25 | — | $55.4M | ||
| Q4 24 | $0 | $38.2M | ||
| Q3 24 | — | $47.7M | ||
| Q2 24 | — | $54.2M | ||
| Q1 24 | — | $16.4M |
| Q4 25 | $23.5M | $248.1M | ||
| Q3 25 | $16.4M | $241.3M | ||
| Q2 25 | $22.8M | $230.7M | ||
| Q1 25 | $38.5M | $221.7M | ||
| Q4 24 | $53.1M | $217.1M | ||
| Q3 24 | $32.7M | $211.2M | ||
| Q2 24 | $45.0M | $204.4M | ||
| Q1 24 | $56.9M | $198.4M |
| Q4 25 | $357.2M | $396.3M | ||
| Q3 25 | $338.9M | $404.9M | ||
| Q2 25 | $329.7M | $396.4M | ||
| Q1 25 | $333.4M | $384.6M | ||
| Q4 24 | $346.8M | $344.5M | ||
| Q3 24 | $282.7M | $349.5M | ||
| Q2 24 | $285.1M | $348.8M | ||
| Q1 24 | $301.8M | $288.0M |
| Q4 25 | — | 0.11× | ||
| Q3 25 | — | 0.21× | ||
| Q2 25 | — | 0.21× | ||
| Q1 25 | — | 0.25× | ||
| Q4 24 | 0.00× | 0.18× | ||
| Q3 24 | — | 0.23× | ||
| Q2 24 | — | 0.27× | ||
| Q1 24 | — | 0.08× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-162.0K | $25.0M |
| Free Cash FlowOCF − Capex | $-2.0M | $23.3M |
| FCF MarginFCF / Revenue | -3.1% | 15.8% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 2.8% | 1.1% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | 3.94× |
| TTM Free Cash FlowTrailing 4 quarters | $-56.9M | $37.7M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $-162.0K | $25.0M | ||
| Q3 25 | $-11.3M | $676.0K | ||
| Q2 25 | $-18.8M | $9.5M | ||
| Q1 25 | $-20.7M | $6.9M | ||
| Q4 24 | $-20.7M | $9.9M | ||
| Q3 24 | $-12.5M | $11.8M | ||
| Q2 24 | $-14.2M | $11.1M | ||
| Q1 24 | $-11.2M | $12.4M |
| Q4 25 | $-2.0M | $23.3M | ||
| Q3 25 | $-13.1M | $-291.0K | ||
| Q2 25 | $-20.4M | $8.5M | ||
| Q1 25 | $-21.5M | $6.2M | ||
| Q4 24 | $-21.3M | $8.8M | ||
| Q3 24 | $-13.9M | $11.1M | ||
| Q2 24 | $-15.0M | $10.3M | ||
| Q1 24 | $-14.5M | $11.2M |
| Q4 25 | -3.1% | 15.8% | ||
| Q3 25 | -24.4% | -0.2% | ||
| Q2 25 | -39.7% | 5.5% | ||
| Q1 25 | -51.9% | 4.7% | ||
| Q4 24 | -47.8% | 6.0% | ||
| Q3 24 | -34.6% | 8.0% | ||
| Q2 24 | -33.9% | 8.0% | ||
| Q1 24 | -38.9% | 10.3% |
| Q4 25 | 2.8% | 1.1% | ||
| Q3 25 | 3.4% | 0.6% | ||
| Q2 25 | 3.2% | 0.6% | ||
| Q1 25 | 1.8% | 0.5% | ||
| Q4 24 | 1.2% | 0.7% | ||
| Q3 24 | 3.7% | 0.5% | ||
| Q2 24 | 1.8% | 0.6% | ||
| Q1 24 | 8.9% | 1.2% |
| Q4 25 | — | 3.94× | ||
| Q3 25 | — | 0.09× | ||
| Q2 25 | — | 1.16× | ||
| Q1 25 | — | 1.77× | ||
| Q4 24 | — | 1.75× | ||
| Q3 24 | — | 1.77× | ||
| Q2 24 | — | 1.96× | ||
| Q1 24 | — | 2.31× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
ESTA
Segment breakdown not available.
LYTS
| Transferred At Point In Time | $55.7M | 38% |
| LED Lighting Digital Signage Electronic Circuit Boards | $54.6M | 37% |
| Project Management Installation Services Shipping And Handling | $13.9M | 9% |
| Poles Other Display Solution Elements | $11.5M | 8% |
| Transferred Over Time | $10.9M | 7% |
