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Hyperscale Data, Inc.（GPUS）与STEM, INC.（STEM）财务数据对比。点击上方公司名可切换其他公司
STEM, INC.的季度营收约是Hyperscale Data, Inc.的1.8倍（$47.1M vs $26.9M），STEM, INC.净利率更高（-33.9% vs -112.0%，领先78.1%），Hyperscale Data, Inc.同比增速更快（38.4% vs -15.6%），过去两年STEM, INC.的营收复合增速更高（36.1% 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。
该公司是一家公开上市的生物制药企业，总部位于加利福尼亚州纽瓦克，专注研发纯化人类神经干细胞，旨在治疗中枢神经系统疾病与瘫痪，其所研发的神经干细胞可分化为中枢神经系统的神经元、星形胶质细胞与少突胶质细胞这三大主要细胞类型。
GPUS vs STEM — 直观对比
营收规模更大
STEM
是对方的1.8倍
$26.9M
营收增速更快
GPUS
高出53.9%
-15.6%
净利率更高
STEM
高出78.1%
-112.0%
两年增速更快
STEM
近两年复合增速
-16.3%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $26.9M | $47.1M |
| 净利润 | $-30.1M | $-16.0M |
| 毛利率 | 14.5% | 48.9% |
| 营业利润率 | -117.8% | -17.7% |
| 净利率 | -112.0% | -33.9% |
| 营收同比 | 38.4% | -15.6% |
| 净利润同比 | -6670.3% | 68.8% |
| 每股收益（稀释后） | — | $-4.40 |
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GPUSSTEM
| Q4 25 | $26.9M | $47.1M | ||
| Q3 25 | $24.3M | $38.2M | ||
| Q2 25 | $25.9M | $38.4M | ||
| Q1 25 | $25.0M | $32.5M | ||
| Q4 24 | $19.4M | $55.8M | ||
| Q3 24 | $31.1M | $29.3M | ||
| Q2 24 | $17.8M | $34.0M | ||
| Q1 24 | $38.4M | $25.5M |
净利润GPUSSTEM
| Q4 25 | $-30.1M | $-16.0M | ||
| Q3 25 | $-13.0M | $-23.8M | ||
| Q2 25 | $-19.1M | $202.5M | ||
| Q1 25 | $-4.2M | $-25.0M | ||
| Q4 24 | $-445.0K | $-51.1M | ||
| Q3 24 | $-25.5M | $-148.3M | ||
| Q2 24 | $-33.9M | $-582.3M | ||
| Q1 24 | $3.7M | $-72.3M |
毛利率GPUSSTEM
| Q4 25 | 14.5% | 48.9% | ||
| Q3 25 | 25.8% | 35.5% | ||
| Q2 25 | 23.7% | 33.4% | ||
| Q1 25 | 21.1% | 32.4% | ||
| Q4 24 | 6.5% | -4.4% | ||
| Q3 24 | 27.5% | 21.2% | ||
| Q2 24 | -21.3% | 27.6% | ||
| Q1 24 | 47.4% | -95.0% |
营业利润率GPUSSTEM
| Q4 25 | -117.8% | -17.7% | ||
| Q3 25 | -57.8% | -33.6% | ||
| Q2 25 | -39.2% | -34.8% | ||
| Q1 25 | -25.5% | -65.0% | ||
| Q4 24 | -46.8% | -84.4% | ||
| Q3 24 | -79.2% | -493.2% | ||
| Q2 24 | -151.4% | -1705.5% | ||
| Q1 24 | 9.5% | -267.0% |
净利率GPUSSTEM
| Q4 25 | -112.0% | -33.9% | ||
| Q3 25 | -53.5% | -62.2% | ||
| Q2 25 | -73.7% | 527.8% | ||
| Q1 25 | -16.8% | -76.9% | ||
| Q4 24 | -2.3% | -91.6% | ||
| Q3 24 | -82.3% | -506.3% | ||
| Q2 24 | -190.7% | -1712.6% | ||
| Q1 24 | 9.7% | -283.9% |
每股收益（稀释后）GPUSSTEM
| Q4 25 | — | $-4.40 | ||
| Q3 25 | $-0.39 | $-2.84 | ||
| Q2 25 | $-2.66 | $-1.79 | ||
| Q1 25 | — | $-0.15 | ||
| Q4 24 | $-8.78 | $-15.29 | ||
| Q3 24 | $-24.82 | $-18.24 | ||
| Q2 24 | $-37.81 | $-71.81 | ||
| Q1 24 | $3.32 | $-0.46 |
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 | $48.9M |
| 总债务越低越好 | $83.1M | — |
| 股东权益账面价值 | $119.8M | $-249.4M |
| 总资产 | $313.7M | $308.9M |
| 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GPUSSTEM
| Q4 25 | $13.1M | $48.9M | ||
| Q3 25 | $24.8M | $43.1M | ||
| Q2 25 | $5.9M | $40.8M | ||
| Q1 25 | $4.2M | $58.6M | ||
| Q4 24 | $4.5M | $56.3M | ||
| Q3 24 | $7.9M | $75.4M | ||
| Q2 24 | $9.6M | $89.6M | ||
| Q1 24 | $18.9M | $112.8M |
总债务GPUSSTEM
| 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 | — | ||
| Q1 24 | $30.0M | — |
股东权益GPUSSTEM
| Q4 25 | $119.8M | $-249.4M | ||
| Q3 25 | $55.9M | $-235.7M | ||
| Q2 25 | $5.5M | $-214.1M | ||
| Q1 25 | $6.3M | $-417.5M | ||
| Q4 24 | $8.6M | $-398.4M | ||
| Q3 24 | $2.7M | $-344.1M | ||
| Q2 24 | $26.7M | $-203.2M | ||
| Q1 24 | $59.0M | $371.6M |
总资产GPUSSTEM
| Q4 25 | $313.7M | $308.9M | ||
| Q3 25 | $242.4M | $362.6M | ||
| Q2 25 | $213.5M | $379.2M | ||
| Q1 25 | $218.5M | $405.1M | ||
| Q4 24 | $220.8M | $437.4M | ||
| Q3 24 | $231.5M | $537.8M | ||
| Q2 24 | $270.8M | $691.5M | ||
| Q1 24 | $299.8M | $1.3B |
负债/权益比GPUSSTEM
| 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× | — | ||
| Q1 24 | 0.51× | — |
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 | $8.2M |
| 自由现金流经营现金流 - 资本支出 | $-56.2M | — |
| 自由现金流率自由现金流/营收 | -208.7% | — |
| 资本支出强度资本支出/营收 | 68.6% | — |
| 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 | — |
8季度趋势，按日历期对齐
经营现金流GPUSSTEM
| Q4 25 | $-37.7M | $8.2M | ||
| Q3 25 | $-17.8M | $11.4M | ||
| Q2 25 | $-3.1M | $-21.3M | ||
| Q1 25 | $-4.0M | $8.5M | ||
| Q4 24 | $-9.2M | $-14.7M | ||
| Q3 24 | $3.7M | $-9.4M | ||
| Q2 24 | $-3.7M | $-11.9M | ||
| Q1 24 | $-10.2M | $-621.0K |
自由现金流GPUSSTEM
| Q4 25 | $-56.2M | — | ||
| Q3 25 | $-20.6M | — | ||
| Q2 25 | $-3.5M | — | ||
| Q1 25 | $-6.8M | — | ||
| Q4 24 | $-9.3M | — | ||
| Q3 24 | $2.6M | — | ||
| Q2 24 | $-5.9M | — | ||
| Q1 24 | $-11.6M | — |
自由现金流率GPUSSTEM
| Q4 25 | -208.7% | — | ||
| Q3 25 | -84.5% | — | ||
| Q2 25 | -13.5% | — | ||
| Q1 25 | -27.3% | — | ||
| Q4 24 | -47.6% | — | ||
| Q3 24 | 8.4% | — | ||
| Q2 24 | -33.4% | — | ||
| Q1 24 | -30.3% | — |
资本支出强度GPUSSTEM
| Q4 25 | 68.6% | — | ||
| Q3 25 | 11.5% | — | ||
| Q2 25 | 1.5% | — | ||
| Q1 25 | 11.5% | — | ||
| Q4 24 | 0.3% | — | ||
| Q3 24 | 3.6% | — | ||
| Q2 24 | 12.6% | — | ||
| Q1 24 | 3.7% | — |
现金转化率GPUSSTEM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | -0.11× | ||
| 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% |
STEM
暂无分部数据
