vs
i3 Verticals, Inc.（IIIV）与System1, Inc.（SST）财务数据对比。点击上方公司名可切换其他公司
i3 Verticals, Inc.的季度营收约是System1, Inc.的1.0倍（$52.7M vs $51.9M），i3 Verticals, Inc.净利率更高（0.9% vs -26.0%，领先26.9%），i3 Verticals, Inc.同比增速更快（-14.6% vs -31.3%），过去两年i3 Verticals, Inc.的营收复合增速更高（-4.7% vs -21.8%）
Prusa i3是捷克Prusa Research公司生产的熔融沉积成型3D打印机系列，以Original Prusa i3为注册商标推出，同时也是RepRap项目的组成部分。2016年该系列就被评为全球使用率最高的3D打印机，最早由Josef Průša在2012年完成设计，2015年正式推出商用套件版本，目前最新型号同时提供散件套件和原厂组装版本，具备性价比高、易操作的优势。
System1是一家美国互联网广告企业，成立于2013年，前身为OpenMail，总部位于加利福尼亚州玛丽娜德尔雷。该公司主打获客响应营销平台业务，将隐私保护作为核心经营重点之一，但也曾因对Startpage.com等主打隐私的平台的影响受到批评。
IIIV vs SST — 直观对比
营收规模更大
IIIV
是对方的1.0倍
$51.9M
营收增速更快
IIIV
高出16.7%
-31.3%
净利率更高
IIIV
高出26.9%
-26.0%
两年增速更快
IIIV
近两年复合增速
-21.8%
损益表 — Q1 FY2026 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $52.7M | $51.9M |
| 净利润 | $484.0K | $-13.5M |
| 毛利率 | — | 41.0% |
| 营业利润率 | 3.1% | -33.6% |
| 净利率 | 0.9% | -26.0% |
| 营收同比 | -14.6% | -31.3% |
| 净利润同比 | -76.5% | 4.8% |
| 每股收益（稀释后） | $0.02 | $-3.58 |
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IIIVSST
| Q4 25 | $52.7M | $51.9M | ||
| Q3 25 | $46.0M | $61.6M | ||
| Q2 25 | $51.9M | $78.1M | ||
| Q1 25 | $63.1M | $74.5M | ||
| Q4 24 | $52.2M | $75.6M | ||
| Q3 24 | $32.0M | $88.8M | ||
| Q2 24 | $46.2M | $94.6M | ||
| Q1 24 | $58.0M | $84.9M |
净利润IIIVSST
| Q4 25 | $484.0K | $-13.5M | ||
| Q3 25 | $3.1M | $-18.5M | ||
| Q2 25 | $12.9M | $-17.5M | ||
| Q1 25 | $-154.0K | $-15.9M | ||
| Q4 24 | $2.1M | $-14.2M | ||
| Q3 24 | $117.9M | $-23.6M | ||
| Q2 24 | $-7.5M | $-26.4M | ||
| Q1 24 | $1.9M | $-10.5M |
毛利率IIIVSST
| Q4 25 | — | 41.0% | ||
| Q3 25 | — | 36.9% | ||
| Q2 25 | — | 35.7% | ||
| Q1 25 | — | 38.2% | ||
| Q4 24 | — | 42.1% | ||
| Q3 24 | — | 28.0% | ||
| Q2 24 | — | 27.6% | ||
| Q1 24 | — | 21.9% |
营业利润率IIIVSST
| Q4 25 | 3.1% | -33.6% | ||
| Q3 25 | 3.2% | -25.3% | ||
| Q2 25 | -9.3% | -20.4% | ||
| Q1 25 | 8.0% | -17.6% | ||
| Q4 24 | 3.9% | -15.7% | ||
| Q3 24 | 10.6% | -24.6% | ||
| Q2 24 | -2.8% | -30.8% | ||
| Q1 24 | 3.4% | -30.4% |
净利率IIIVSST
| Q4 25 | 0.9% | -26.0% | ||
| Q3 25 | 6.7% | -30.1% | ||
| Q2 25 | 24.8% | -22.4% | ||
| Q1 25 | -0.2% | -21.3% | ||
| Q4 24 | 3.9% | -18.7% | ||
| Q3 24 | 368.2% | -26.6% | ||
| Q2 24 | -16.3% | -27.9% | ||
| Q1 24 | 3.2% | -12.4% |
每股收益（稀释后）IIIVSST
| Q4 25 | $0.02 | $-3.58 | ||
| Q3 25 | $0.14 | $-2.30 | ||
| Q2 25 | $0.50 | $-2.23 | ||
| Q1 25 | $0.00 | $-0.21 | ||
| Q4 24 | $0.08 | $-3.41 | ||
| Q3 24 | $4.93 | $-3.37 | ||
| Q2 24 | $-0.32 | $-3.80 | ||
| Q1 24 | $0.08 | $-0.16 |
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 | $37.5M | $86.9M |
| 总债务越低越好 | — | $305.1M |
| 股东权益账面价值 | $358.5M | $30.5M |
| 总资产 | $595.9M | $405.0M |
| 负债/权益比越低杠杆越低 | — | 10.01× |
8季度趋势，按日历期对齐
现金及短期投资IIIVSST
| Q4 25 | $37.5M | $86.9M | ||
| Q3 25 | $66.7M | $54.6M | ||
| Q2 25 | $55.5M | $63.6M | ||
| Q1 25 | $7.7M | $43.9M | ||
| Q4 24 | $85.6M | $63.6M | ||
| Q3 24 | $86.5M | $69.1M | ||
| Q2 24 | $9.7M | $75.7M | ||
| Q1 24 | $3.1M | $69.9M |
总债务IIIVSST
| Q4 25 | — | $305.1M | ||
| Q3 25 | $0 | $259.2M | ||
| Q2 25 | $0 | $263.3M | ||
| Q1 25 | $12.0M | $267.4M | ||
| Q4 24 | $26.2M | $255.1M | ||
| Q3 24 | $26.2M | $259.2M | ||
| Q2 24 | $374.1M | $263.3M | ||
| Q1 24 | $369.6M | $268.6M |
股东权益IIIVSST
| Q4 25 | $358.5M | $30.5M | ||
| Q3 25 | $389.6M | $42.7M | ||
| Q2 25 | $383.3M | $58.2M | ||
| Q1 25 | $385.2M | $67.2M | ||
| Q4 24 | $375.0M | $80.3M | ||
| Q3 24 | $379.7M | $90.3M | ||
| Q2 24 | $249.7M | $109.4M | ||
| Q1 24 | $249.3M | $131.7M |
总资产IIIVSST
| Q4 25 | $595.9M | $405.0M | ||
| Q3 25 | $638.4M | $385.2M | ||
| Q2 25 | $623.3M | $429.2M | ||
| Q1 25 | $646.4M | $419.2M | ||
| Q4 24 | $726.2M | $459.1M | ||
| Q3 24 | $730.7M | $479.3M | ||
| Q2 24 | $861.7M | $511.3M | ||
| Q1 24 | $625.8M | $521.1M |
负债/权益比IIIVSST
| Q4 25 | — | 10.01× | ||
| Q3 25 | 0.00× | 6.07× | ||
| Q2 25 | 0.00× | 4.53× | ||
| Q1 25 | 0.03× | 3.98× | ||
| Q4 24 | 0.07× | 3.18× | ||
| Q3 24 | 0.07× | 2.87× | ||
| Q2 24 | 1.50× | 2.41× | ||
| Q1 24 | 1.48× | 2.04× |
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 | $14.1M | $-10.6M |
| 自由现金流经营现金流 - 资本支出 | $13.8M | — |
| 自由现金流率自由现金流/营收 | 26.2% | — |
| 资本支出强度资本支出/营收 | 0.6% | 0.0% |
| 现金转化率经营现金流/净利润 | 29.18× | — |
| 过去12个月自由现金流最近4个季度 | $6.5M | — |
8季度趋势，按日历期对齐
经营现金流IIIVSST
| Q4 25 | $14.1M | $-10.6M | ||
| Q3 25 | $14.0M | $-2.1M | ||
| Q2 25 | $7.4M | $24.5M | ||
| Q1 25 | $-27.1M | $-15.9M | ||
| Q4 24 | $11.5M | $772.0K | ||
| Q3 24 | $15.1M | $-5.0K | ||
| Q2 24 | $8.1M | $10.0M | ||
| Q1 24 | $10.7M | $-16.0M |
自由现金流IIIVSST
| Q4 25 | $13.8M | — | ||
| Q3 25 | $13.5M | — | ||
| Q2 25 | $6.8M | — | ||
| Q1 25 | $-27.6M | $-16.0M | ||
| Q4 24 | $11.0M | — | ||
| Q3 24 | $14.6M | $-36.0K | ||
| Q2 24 | $7.2M | — | ||
| Q1 24 | $9.9M | — |
自由现金流率IIIVSST
| Q4 25 | 26.2% | — | ||
| Q3 25 | 29.5% | — | ||
| Q2 25 | 13.1% | — | ||
| Q1 25 | -43.8% | -21.5% | ||
| Q4 24 | 21.1% | — | ||
| Q3 24 | 45.6% | -0.0% | ||
| Q2 24 | 15.6% | — | ||
| Q1 24 | 17.1% | — |
资本支出强度IIIVSST
| Q4 25 | 0.6% | 0.0% | ||
| Q3 25 | 0.9% | 0.0% | ||
| Q2 25 | 1.0% | 0.0% | ||
| Q1 25 | 0.8% | 0.1% | ||
| Q4 24 | 0.9% | 0.0% | ||
| Q3 24 | 1.7% | 0.0% | ||
| Q2 24 | 1.9% | 0.0% | ||
| Q1 24 | 1.4% | 0.0% |
现金转化率IIIVSST
| Q4 25 | 29.18× | — | ||
| Q3 25 | 4.52× | — | ||
| Q2 25 | 0.57× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 5.59× | — | ||
| Q3 24 | 0.13× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 5.72× | — |
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
IIIV
| License And Service | $35.7M | 68% |
| Proprietary Payments Revenue | $14.5M | 27% |
| Other Revenue | $2.5M | 5% |
SST
暂无分部数据
