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Side-by-side financial comparison of Powerfleet, Inc. (AIOT) and Bandwidth Inc. (BAND). Click either name above to swap in a different company.
Bandwidth Inc. is the larger business by last-quarter revenue ($208.8M vs $113.5M, roughly 1.8× Powerfleet, Inc.). Bandwidth Inc. runs the higher net margin — 1.9% vs -3.0%, a 4.9% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 6.6%). Powerfleet, Inc. produced more free cash flow last quarter ($4.9M vs $-1.0M). Over the past eight quarters, Powerfleet, Inc.'s revenue compounded faster (81.2% CAGR vs 9.7%).
Powerfleet, Inc. is an American company headquartered in Woodcliff Lake, New Jersey, that operates as a global provider of IoT and M2M solutions for securing, controlling, and tracking high-value enterprise assets. The company is a provider in the international telematics industry, providing fleet management, asset tracking, freight visibility, and driver behavior monitoring for industrial trucks, vehicle fleets, and shipping containers.
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.
AIOT vs BAND — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $113.5M | $208.8M |
| Net Profit | $-3.4M | $4.0M |
| Gross Margin | 55.2% | 37.3% |
| Operating Margin | 5.6% | 60.5% |
| Net Margin | -3.0% | 1.9% |
| Revenue YoY | 6.6% | 20.1% |
| Net Profit YoY | 76.6% | 200.0% |
| EPS (diluted) | $-0.03 | $-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 | $113.5M | $207.7M | ||
| Q3 25 | $111.7M | $191.9M | ||
| Q2 25 | $104.1M | $180.0M | ||
| Q1 25 | $103.6M | $174.2M | ||
| Q4 24 | $106.4M | $210.0M | ||
| Q3 24 | $77.0M | $193.9M | ||
| Q2 24 | $75.4M | $173.6M |
| Q1 26 | — | $4.0M | ||
| Q4 25 | $-3.4M | — | ||
| Q3 25 | $-4.3M | $-1.2M | ||
| Q2 25 | $-10.2M | $-4.9M | ||
| Q1 25 | $-12.4M | $-3.7M | ||
| Q4 24 | $-14.3M | — | ||
| Q3 24 | $-1.9M | $413.0K | ||
| Q2 24 | $-22.3M | $4.1M |
| Q1 26 | — | 37.3% | ||
| Q4 25 | 55.2% | 37.6% | ||
| Q3 25 | 56.0% | 38.5% | ||
| Q2 25 | 54.2% | 39.8% | ||
| Q1 25 | 52.8% | 41.0% | ||
| Q4 24 | 55.2% | 36.4% | ||
| Q3 24 | 53.7% | 37.7% | ||
| Q2 24 | 52.6% | 37.3% |
| Q1 26 | — | 60.5% | ||
| Q4 25 | 5.6% | -1.9% | ||
| Q3 25 | 3.8% | -1.0% | ||
| Q2 25 | -2.0% | -2.1% | ||
| Q1 25 | -6.7% | -2.7% | ||
| Q4 24 | -1.2% | -1.3% | ||
| Q3 24 | 0.7% | -0.5% | ||
| Q2 24 | -24.2% | -3.5% |
| Q1 26 | — | 1.9% | ||
| Q4 25 | -3.0% | — | ||
| Q3 25 | -3.8% | -0.6% | ||
| Q2 25 | -9.8% | -2.7% | ||
| Q1 25 | -12.0% | -2.1% | ||
| Q4 24 | -13.5% | — | ||
| Q3 24 | -2.5% | 0.2% | ||
| Q2 24 | -29.6% | 2.3% |
| Q1 26 | — | $-0.08 | ||
| Q4 25 | $-0.03 | $-0.10 | ||
| Q3 25 | $-0.03 | $-0.04 | ||
| Q2 25 | $-0.08 | $-0.16 | ||
| Q1 25 | $-0.09 | $-0.13 | ||
| Q4 24 | $-0.11 | $0.27 | ||
| Q3 24 | $-0.02 | $0.01 | ||
| Q2 24 | $-0.21 | $-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 | $31.2M | $47.3M |
| Total DebtLower is stronger | $237.8M | — |
| Stockholders' EquityBook value | $485.0M | $405.7M |
| Total Assets | $959.5M | $984.2M |
| Debt / EquityLower = less leverage | 0.49× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $47.3M | ||
| Q4 25 | $31.2M | $111.3M | ||
| Q3 25 | $27.9M | $80.4M | ||
| Q2 25 | $31.2M | $68.1M | ||
| Q1 25 | $44.4M | $41.7M | ||
| Q4 24 | $33.6M | $83.8M | ||
| Q3 24 | $26.0M | $79.9M | ||
| Q2 24 | $30.2M | $76.4M |
| Q1 26 | — | — | ||
| Q4 25 | $237.8M | — | ||
| Q3 25 | $238.2M | — | ||
| Q2 25 | $239.0M | — | ||
| Q1 25 | $237.5M | — | ||
| Q4 24 | $238.5M | — | ||
| Q3 24 | $113.6M | — | ||
| Q2 24 | $113.7M | — |
| Q1 26 | — | $405.7M | ||
| Q4 25 | $485.0M | $400.0M | ||
| Q3 25 | $468.8M | $392.7M | ||
| Q2 25 | $460.7M | $384.5M | ||
| Q1 25 | $446.6M | $345.4M | ||
| Q4 24 | $458.4M | $312.5M | ||
| Q3 24 | $451.0M | $336.6M | ||
| Q2 24 | $390.4M | $307.4M |
| Q1 26 | — | $984.2M | ||
| Q4 25 | $959.5M | $1.1B | ||
| Q3 25 | $936.9M | $1.0B | ||
| Q2 25 | $930.8M | $1.0B | ||
| Q1 25 | $910.1M | $964.4M | ||
| Q4 24 | $908.7M | $989.2M | ||
| Q3 24 | $748.3M | $1.0B | ||
| Q2 24 | $684.9M | $1.0B |
| Q1 26 | — | — | ||
| Q4 25 | 0.49× | — | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.52× | — | ||
| Q3 24 | 0.25× | — | ||
| Q2 24 | 0.29× | — |
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 | $10.2M | — |
| Free Cash FlowOCF − Capex | $4.9M | $-1.0M |
| FCF MarginFCF / Revenue | 4.4% | -0.5% |
| Capex IntensityCapex / Revenue | 4.6% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $12.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $10.2M | $38.6M | ||
| Q3 25 | $5.5M | $22.2M | ||
| Q2 25 | $4.7M | $31.7M | ||
| Q1 25 | $13.5M | $-3.1M | ||
| Q4 24 | $-6.1M | $36.5M | ||
| Q3 24 | $-3.2M | $20.5M | ||
| Q2 24 | $-7.6M | $24.4M |
| Q1 26 | — | $-1.0M | ||
| Q4 25 | $4.9M | — | ||
| Q3 25 | $1.2M | — | ||
| Q2 25 | $-3.4M | — | ||
| Q1 25 | $10.1M | — | ||
| Q4 24 | $-12.2M | — | ||
| Q3 24 | $-8.0M | — | ||
| Q2 24 | $-13.2M | — |
| Q1 26 | — | -0.5% | ||
| Q4 25 | 4.4% | — | ||
| Q3 25 | 1.1% | — | ||
| Q2 25 | -3.3% | — | ||
| Q1 25 | 9.8% | — | ||
| Q4 24 | -11.5% | — | ||
| Q3 24 | -10.4% | — | ||
| Q2 24 | -17.5% | — |
| Q1 26 | — | — | ||
| Q4 25 | 4.6% | — | ||
| Q3 25 | 3.9% | — | ||
| Q2 25 | 7.8% | — | ||
| Q1 25 | 3.3% | — | ||
| Q4 24 | 5.8% | — | ||
| Q3 24 | 6.3% | — | ||
| Q2 24 | 7.4% | — |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 49.55× | ||
| Q2 24 | — | 6.03× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AIOT
| Services | $91.1M | 80% |
| Products | $22.4M | 20% |
BAND
Segment breakdown not available.
