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Side-by-side financial comparison of ASHFORD HOSPITALITY TRUST INC (AHT) and Bandwidth Inc. (BAND). Click either name above to swap in a different company.
ASHFORD HOSPITALITY TRUST INC is the larger business by last-quarter revenue ($259.0M vs $208.8M, roughly 1.2× Bandwidth Inc.). Bandwidth Inc. runs the higher net margin — 1.9% vs -26.8%, a 28.7% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs -6.0%). Bandwidth Inc. produced more free cash flow last quarter ($-1.0M vs $-86.8M). Over the past eight quarters, Bandwidth Inc.'s revenue compounded faster (9.7% CAGR vs -7.7%).
Ashford Hospitality Trust Inc is a U.S.-headquartered real estate investment trust focused on upper-upscale full-service hotel properties across key U.S. urban, suburban and resort markets. Its portfolio holds assets under top global hospitality brands, serving business and leisure travelers, with a focus on long-term value growth and stable shareholder returns.
Bandwidth Inc. is a communications platform as a service company. It sells software application programming interfaces for voice, text messaging and emergency services, using its own global IP voice network.
AHT vs BAND — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $259.0M | $208.8M |
| Net Profit | $-69.3M | $4.0M |
| Gross Margin | — | 37.3% |
| Operating Margin | -2.6% | 60.5% |
| Net Margin | -26.8% | 1.9% |
| Revenue YoY | -6.0% | 20.1% |
| Net Profit YoY | 44.2% | 200.0% |
| EPS (diluted) | $-12.85 | $-0.08 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $208.8M | ||
| Q4 25 | $259.0M | $207.7M | ||
| Q3 25 | $266.1M | $191.9M | ||
| Q2 25 | $302.0M | $180.0M | ||
| Q1 25 | $277.4M | $174.2M | ||
| Q4 24 | $275.5M | $210.0M | ||
| Q3 24 | $276.6M | $193.9M | ||
| Q2 24 | $316.5M | $173.6M |
| Q1 26 | — | $4.0M | ||
| Q4 25 | $-69.3M | — | ||
| Q3 25 | $-60.1M | $-1.2M | ||
| Q2 25 | $-30.4M | $-4.9M | ||
| Q1 25 | $-20.0M | $-3.7M | ||
| Q4 24 | $-124.2M | — | ||
| Q3 24 | $-57.9M | $413.0K | ||
| Q2 24 | $50.3M | $4.1M |
| Q1 26 | — | 37.3% | ||
| Q4 25 | — | 37.6% | ||
| Q3 25 | — | 38.5% | ||
| Q2 25 | — | 39.8% | ||
| Q1 25 | — | 41.0% | ||
| Q4 24 | — | 36.4% | ||
| Q3 24 | — | 37.7% | ||
| Q2 24 | — | 37.3% |
| Q1 26 | — | 60.5% | ||
| Q4 25 | -2.6% | -1.9% | ||
| Q3 25 | 4.6% | -1.0% | ||
| Q2 25 | 16.3% | -2.1% | ||
| Q1 25 | 22.2% | -2.7% | ||
| Q4 24 | -17.8% | -1.3% | ||
| Q3 24 | 7.3% | -0.5% | ||
| Q2 24 | 42.8% | -3.5% |
| Q1 26 | — | 1.9% | ||
| Q4 25 | -26.8% | — | ||
| Q3 25 | -22.6% | -0.6% | ||
| Q2 25 | -10.1% | -2.7% | ||
| Q1 25 | -7.2% | -2.1% | ||
| Q4 24 | -45.1% | — | ||
| Q3 24 | -20.9% | 0.2% | ||
| Q2 24 | 15.9% | 2.3% |
| Q1 26 | — | $-0.08 | ||
| Q4 25 | $-12.85 | $-0.10 | ||
| Q3 25 | $-11.35 | $-0.04 | ||
| Q2 25 | $-6.88 | $-0.16 | ||
| Q1 25 | $-4.91 | $-0.13 | ||
| Q4 24 | $-13.64 | $0.27 | ||
| Q3 24 | $-12.39 | $0.01 | ||
| Q2 24 | $2.50 | $-0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $66.1M | $47.3M |
| Total DebtLower is stronger | $2.5B | — |
| Stockholders' EquityBook value | $-626.4M | $405.7M |
| Total Assets | $2.8B | $984.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $47.3M | ||
| Q4 25 | $66.1M | $111.3M | ||
| Q3 25 | $81.9M | $80.4M | ||
| Q2 25 | $100.0M | $68.1M | ||
| Q1 25 | $85.8M | $41.7M | ||
| Q4 24 | $112.9M | $83.8M | ||
| Q3 24 | $119.7M | $79.9M | ||
| Q2 24 | $121.8M | $76.4M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | — | ||
| Q2 25 | $2.6B | — | ||
| Q1 25 | $2.7B | — | ||
| Q4 24 | $2.6B | — | ||
| Q3 24 | $2.7B | — | ||
| Q2 24 | $2.8B | — |
| Q1 26 | — | $405.7M | ||
| Q4 25 | $-626.4M | $400.0M | ||
| Q3 25 | $-548.7M | $392.7M | ||
| Q2 25 | $-485.5M | $384.5M | ||
| Q1 25 | $-446.1M | $345.4M | ||
| Q4 24 | $-419.2M | $312.5M | ||
| Q3 24 | $-288.4M | $336.6M | ||
| Q2 24 | $-225.9M | $307.4M |
| Q1 26 | — | $984.2M | ||
| Q4 25 | $2.8B | $1.1B | ||
| Q3 25 | $3.0B | $1.0B | ||
| Q2 25 | $3.1B | $1.0B | ||
| Q1 25 | $3.1B | $964.4M | ||
| Q4 24 | $3.2B | $989.2M | ||
| Q3 24 | $3.3B | $1.0B | ||
| Q2 24 | $3.3B | $1.0B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-15.7M | — |
| Free Cash FlowOCF − Capex | $-86.8M | $-1.0M |
| FCF MarginFCF / Revenue | -33.5% | -0.5% |
| Capex IntensityCapex / Revenue | 27.5% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-135.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-15.7M | $38.6M | ||
| Q3 25 | $5.5M | $22.2M | ||
| Q2 25 | $16.3M | $31.7M | ||
| Q1 25 | $-25.0M | $-3.1M | ||
| Q4 24 | $-23.6M | $36.5M | ||
| Q3 24 | $795.0K | $20.5M | ||
| Q2 24 | $8.0M | $24.4M |
| Q1 26 | — | $-1.0M | ||
| Q4 25 | $-86.8M | — | ||
| Q3 25 | $-226.0K | — | ||
| Q2 25 | $-3.6M | — | ||
| Q1 25 | $-44.8M | — | ||
| Q4 24 | $-131.6M | — | ||
| Q3 24 | $-21.8M | — | ||
| Q2 24 | $-22.9M | — |
| Q1 26 | — | -0.5% | ||
| Q4 25 | -33.5% | — | ||
| Q3 25 | -0.1% | — | ||
| Q2 25 | -1.2% | — | ||
| Q1 25 | -16.2% | — | ||
| Q4 24 | -47.8% | — | ||
| Q3 24 | -7.9% | — | ||
| Q2 24 | -7.2% | — |
| Q1 26 | — | — | ||
| Q4 25 | 27.5% | — | ||
| Q3 25 | 2.1% | — | ||
| Q2 25 | 6.6% | — | ||
| Q1 25 | 7.2% | — | ||
| Q4 24 | 39.2% | — | ||
| Q3 24 | 8.2% | — | ||
| Q2 24 | 9.8% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 49.55× | ||
| Q2 24 | 0.16× | 6.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AHT
| Occupancy | $190.2M | 73% |
| Food And Beverage | $51.8M | 20% |
| Hotel Other | $16.6M | 6% |
BAND
Segment breakdown not available.
