vs
Hyperscale Data, Inc.（GPUS）与LIGHTPATH TECHNOLOGIES INC（LPTH）财务数据对比。点击上方公司名可切换其他公司
Hyperscale Data, Inc.的季度营收约是LIGHTPATH TECHNOLOGIES INC的1.6倍（$26.9M vs $16.4M），LIGHTPATH TECHNOLOGIES INC净利率更高（-57.5% vs -112.0%，领先54.5%），LIGHTPATH TECHNOLOGIES INC同比增速更快（120.2% vs 38.4%），LIGHTPATH TECHNOLOGIES INC自由现金流更多（$2.0M vs $-56.2M），过去两年LIGHTPATH TECHNOLOGIES INC的营收复合增速更高（45.7% vs -16.3%）
Hyperscale Data, Inc.主要提供GPU加速计算基础设施及云解决方案，服务于AI开发、大数据处理、高性能计算领域，客户覆盖北美及亚太地区的AI初创企业、大型科技公司与云服务提供商，为复杂数据处理需求交付可扩展的高效计算资源。
LightPath Technologies Inc是一家精密光学组件及组件生产商，主营非球面透镜、红外光学器件、光纤产品等，服务工业自动化、航空航天、国防、医疗成像、电信等领域的全球客户，提供标准及定制化光学解决方案。
GPUS vs LPTH — 直观对比
营收规模更大
GPUS
是对方的1.6倍
$16.4M
营收增速更快
LPTH
高出81.8%
38.4%
净利率更高
LPTH
高出54.5%
-112.0%
自由现金流更多
LPTH
多$58.1M
$-56.2M
两年增速更快
LPTH
近两年复合增速
-16.3%
损益表 — Q4 FY2025 vs Q2 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $26.9M | $16.4M |
| 净利润 | $-30.1M | $-9.4M |
| 毛利率 | 14.5% | 36.8% |
| 营业利润率 | -117.8% | -52.6% |
| 净利率 | -112.0% | -57.5% |
| 营收同比 | 38.4% | 120.2% |
| 净利润同比 | -6670.3% | -260.1% |
| 每股收益（稀释后） | — | $-0.20 |
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GPUSLPTH
| Q4 25 | $26.9M | $16.4M | ||
| Q3 25 | $24.3M | $15.1M | ||
| Q2 25 | $25.9M | $12.2M | ||
| Q1 25 | $25.0M | $9.2M | ||
| Q4 24 | $19.4M | $7.4M | ||
| Q3 24 | $31.1M | $8.4M | ||
| Q2 24 | $17.8M | $8.6M | ||
| Q1 24 | $38.4M | $7.7M |
净利润GPUSLPTH
| Q4 25 | $-30.1M | $-9.4M | ||
| Q3 25 | $-13.0M | $-2.9M | ||
| Q2 25 | $-19.1M | $-7.1M | ||
| Q1 25 | $-4.2M | $-3.6M | ||
| Q4 24 | $-445.0K | $-2.6M | ||
| Q3 24 | $-25.5M | $-1.6M | ||
| Q2 24 | $-33.9M | $-2.4M | ||
| Q1 24 | $3.7M | $-2.6M |
毛利率GPUSLPTH
| Q4 25 | 14.5% | 36.8% | ||
| Q3 25 | 25.8% | 29.8% | ||
| Q2 25 | 23.7% | 22.0% | ||
| Q1 25 | 21.1% | 29.1% | ||
| Q4 24 | 6.5% | 26.0% | ||
| Q3 24 | 27.5% | 33.9% | ||
| Q2 24 | -21.3% | 29.2% | ||
| Q1 24 | 47.4% | 20.9% |
营业利润率GPUSLPTH
| Q4 25 | -117.8% | -52.6% | ||
| Q3 25 | -57.8% | -16.6% | ||
| Q2 25 | -39.2% | -38.0% | ||
| Q1 25 | -25.5% | -36.3% | ||
| Q4 24 | -46.8% | -33.5% | ||
| Q3 24 | -79.2% | -16.4% | ||
| Q2 24 | -151.4% | -25.6% | ||
| Q1 24 | 9.5% | -33.6% |
净利率GPUSLPTH
| Q4 25 | -112.0% | -57.5% | ||
| Q3 25 | -53.5% | -19.2% | ||
| Q2 25 | -73.7% | -57.8% | ||
| Q1 25 | -16.8% | -39.1% | ||
| Q4 24 | -2.3% | -35.2% | ||
| Q3 24 | -82.3% | -19.3% | ||
| Q2 24 | -190.7% | -27.3% | ||
| Q1 24 | 9.7% | -33.7% |
每股收益（稀释后）GPUSLPTH
| Q4 25 | — | $-0.20 | ||
| Q3 25 | $-0.39 | $-0.07 | ||
| Q2 25 | $-2.66 | $0.19 | ||
| Q1 25 | — | $-0.44 | ||
| Q4 24 | $-8.78 | $-0.07 | ||
| Q3 24 | $-24.82 | $-0.04 | ||
| Q2 24 | $-37.81 | $-0.15 | ||
| Q1 24 | $3.32 | $-0.07 |
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 | $13.1M | $73.6M |
| 总债务越低越好 | $83.1M | — |
| 股东权益账面价值 | $119.8M | $77.9M |
| 总资产 | $313.7M | $148.6M |
| 负债/权益比越低杠杆越低 | 0.69× | — |
8季度趋势，按日历期对齐
现金及短期投资GPUSLPTH
| Q4 25 | $13.1M | $73.6M | ||
| Q3 25 | $24.8M | — | ||
| Q2 25 | $5.9M | $4.9M | ||
| Q1 25 | $4.2M | — | ||
| Q4 24 | $4.5M | — | ||
| Q3 24 | $7.9M | — | ||
| Q2 24 | $9.6M | — | ||
| Q1 24 | $18.9M | — |
总债务GPUSLPTH
| Q4 25 | $83.1M | — | ||
| Q3 25 | $80.0M | — | ||
| Q2 25 | $88.5M | — | ||
| Q1 25 | $92.8M | — | ||
| Q4 24 | $96.7M | — | ||
| Q3 24 | $104.8M | — | ||
| Q2 24 | $106.8M | $535.0K | ||
| Q1 24 | $30.0M | $599.4K |
股东权益GPUSLPTH
| Q4 25 | $119.8M | $77.9M | ||
| Q3 25 | $55.9M | $21.4M | ||
| Q2 25 | $5.5M | $15.6M | ||
| Q1 25 | $6.3M | $15.7M | ||
| Q4 24 | $8.6M | $26.7M | ||
| Q3 24 | $2.7M | $29.4M | ||
| Q2 24 | $26.7M | $30.2M | ||
| Q1 24 | $59.0M | $31.7M |
总资产GPUSLPTH
| Q4 25 | $313.7M | $148.6M | ||
| Q3 25 | $242.4M | $87.3M | ||
| Q2 25 | $213.5M | $81.5M | ||
| Q1 25 | $218.5M | $81.4M | ||
| Q4 24 | $220.8M | $45.8M | ||
| Q3 24 | $231.5M | $48.4M | ||
| Q2 24 | $270.8M | $48.1M | ||
| Q1 24 | $299.8M | $49.7M |
负债/权益比GPUSLPTH
| Q4 25 | 0.69× | — | ||
| Q3 25 | 1.43× | — | ||
| Q2 25 | 16.06× | — | ||
| Q1 25 | 14.71× | — | ||
| Q4 24 | 11.19× | — | ||
| Q3 24 | 38.41× | — | ||
| Q2 24 | 4.00× | 0.02× | ||
| Q1 24 | 0.51× | 0.02× |
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 | $-37.7M | $2.8M |
| 自由现金流经营现金流 - 资本支出 | $-56.2M | $2.0M |
| 自由现金流率自由现金流/营收 | -208.7% | 12.0% |
| 资本支出强度资本支出/营收 | 68.6% | 5.3% |
| 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 | $-87.1M | $-6.3M |
8季度趋势，按日历期对齐
经营现金流GPUSLPTH
| Q4 25 | $-37.7M | $2.8M | ||
| Q3 25 | $-17.8M | $-1.1M | ||
| Q2 25 | $-3.1M | $-2.6M | ||
| Q1 25 | $-4.0M | $-3.2M | ||
| Q4 24 | $-9.2M | $-737.4K | ||
| Q3 24 | $3.7M | $-1.7M | ||
| Q2 24 | $-3.7M | $64.7K | ||
| Q1 24 | $-10.2M | $-394.2K |
自由现金流GPUSLPTH
| Q4 25 | $-56.2M | $2.0M | ||
| Q3 25 | $-20.6M | $-1.2M | ||
| Q2 25 | $-3.5M | $-3.3M | ||
| Q1 25 | $-6.8M | $-3.7M | ||
| Q4 24 | $-9.3M | $-817.8K | ||
| Q3 24 | $2.6M | $-1.8M | ||
| Q2 24 | $-5.9M | $-225.5K | ||
| Q1 24 | $-11.6M | $-802.5K |
自由现金流率GPUSLPTH
| Q4 25 | -208.7% | 12.0% | ||
| Q3 25 | -84.5% | -8.1% | ||
| Q2 25 | -13.5% | -27.3% | ||
| Q1 25 | -27.3% | -40.0% | ||
| Q4 24 | -47.6% | -11.0% | ||
| Q3 24 | 8.4% | -21.2% | ||
| Q2 24 | -33.4% | -2.6% | ||
| Q1 24 | -30.3% | -10.4% |
资本支出强度GPUSLPTH
| Q4 25 | 68.6% | 5.3% | ||
| Q3 25 | 11.5% | 0.5% | ||
| Q2 25 | 1.5% | 5.6% | ||
| Q1 25 | 11.5% | 4.6% | ||
| Q4 24 | 0.3% | 1.1% | ||
| Q3 24 | 3.6% | 0.9% | ||
| Q2 24 | 12.6% | 3.4% | ||
| Q1 24 | 3.7% | 5.3% |
现金转化率GPUSLPTH
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -2.75× | — |
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
GPUS
| Transferred Over Time | $10.4M | 39% |
| Revenue From Mined Crypto Assets At Sentinum Owned And Operated Facilities | $5.8M | 21% |
| Hotel And Real Estate Operations | $4.8M | 18% |
| Other | $4.0M | 15% |
| Turn On Green | $2.0M | 7% |
LPTH
| Other | $7.9M | 48% |
| Infrared Components | $5.0M | 31% |
| Visible Components | $3.4M | 21% |
