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Side-by-side financial comparison of Powerfleet, Inc. (AIOT) and JFrog Ltd (FROG). Click either name above to swap in a different company.
JFrog Ltd is the larger business by last-quarter revenue ($145.3M vs $113.5M, roughly 1.3× Powerfleet, Inc.). Powerfleet, Inc. runs the higher net margin — -3.0% vs -10.5%, a 7.5% gap on every dollar of revenue. On growth, JFrog Ltd posted the faster year-over-year revenue change (25.2% vs 6.6%). JFrog Ltd produced more free cash flow last quarter ($49.9M vs $4.9M). Over the past eight quarters, Powerfleet, Inc.'s revenue compounded faster (81.2% CAGR vs 20.4%).
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.
JFrog Ltd is a global DevOps technology provider that delivers end-to-end software release, artifact management, and security solutions. It serves clients across tech, finance, retail, and manufacturing sectors, helping teams streamline development and delivery workflows for cloud, on-premises, and hybrid infrastructure.
AIOT vs FROG — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.5M | $145.3M |
| Net Profit | $-3.4M | $-15.2M |
| Gross Margin | 55.2% | 77.9% |
| Operating Margin | 5.6% | -14.7% |
| Net Margin | -3.0% | -10.5% |
| Revenue YoY | 6.6% | 25.2% |
| Net Profit YoY | 76.6% | 34.4% |
| EPS (diluted) | $-0.03 | $-0.13 |
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.
| Q4 25 | $113.5M | $145.3M | ||
| Q3 25 | $111.7M | $136.9M | ||
| Q2 25 | $104.1M | $127.2M | ||
| Q1 25 | $103.6M | $122.4M | ||
| Q4 24 | $106.4M | $116.1M | ||
| Q3 24 | $77.0M | $109.1M | ||
| Q2 24 | $75.4M | $103.0M | ||
| Q1 24 | — | $100.3M |
| Q4 25 | $-3.4M | $-15.2M | ||
| Q3 25 | $-4.3M | $-16.4M | ||
| Q2 25 | $-10.2M | $-21.7M | ||
| Q1 25 | $-12.4M | $-18.5M | ||
| Q4 24 | $-14.3M | $-23.2M | ||
| Q3 24 | $-1.9M | $-22.9M | ||
| Q2 24 | $-22.3M | $-14.3M | ||
| Q1 24 | — | $-8.8M |
| Q4 25 | 55.2% | 77.9% | ||
| Q3 25 | 56.0% | 77.4% | ||
| Q2 25 | 54.2% | 76.3% | ||
| Q1 25 | 52.8% | 75.3% | ||
| Q4 24 | 55.2% | 75.4% | ||
| Q3 24 | 53.7% | 75.0% | ||
| Q2 24 | 52.6% | 78.8% | ||
| Q1 24 | — | 79.5% |
| Q4 25 | 5.6% | -14.7% | ||
| Q3 25 | 3.8% | -15.8% | ||
| Q2 25 | -2.0% | -20.4% | ||
| Q1 25 | -6.7% | -18.8% | ||
| Q4 24 | -1.2% | -21.9% | ||
| Q3 24 | 0.7% | -27.4% | ||
| Q2 24 | -24.2% | -18.6% | ||
| Q1 24 | — | -16.6% |
| Q4 25 | -3.0% | -10.5% | ||
| Q3 25 | -3.8% | -12.0% | ||
| Q2 25 | -9.8% | -17.0% | ||
| Q1 25 | -12.0% | -15.1% | ||
| Q4 24 | -13.5% | -20.0% | ||
| Q3 24 | -2.5% | -21.0% | ||
| Q2 24 | -29.6% | -13.9% | ||
| Q1 24 | — | -8.8% |
| Q4 25 | $-0.03 | $-0.13 | ||
| Q3 25 | $-0.03 | $-0.14 | ||
| Q2 25 | $-0.08 | $-0.19 | ||
| Q1 25 | $-0.09 | $-0.16 | ||
| Q4 24 | $-0.11 | $-0.21 | ||
| Q3 24 | $-0.02 | $-0.21 | ||
| Q2 24 | $-0.21 | $-0.13 | ||
| Q1 24 | — | $-0.08 |
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 | $704.4M |
| Total DebtLower is stronger | $237.8M | — |
| Stockholders' EquityBook value | $485.0M | $887.4M |
| Total Assets | $959.5M | $1.3B |
| Debt / EquityLower = less leverage | 0.49× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.2M | $704.4M | ||
| Q3 25 | $27.9M | $651.1M | ||
| Q2 25 | $31.2M | $611.7M | ||
| Q1 25 | $44.4M | $563.5M | ||
| Q4 24 | $33.6M | $522.0M | ||
| Q3 24 | $26.0M | $467.8M | ||
| Q2 24 | $30.2M | $591.3M | ||
| Q1 24 | — | $579.6M |
| 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 24 | — | — |
| Q4 25 | $485.0M | $887.4M | ||
| Q3 25 | $468.8M | $859.4M | ||
| Q2 25 | $460.7M | $826.5M | ||
| Q1 25 | $446.6M | $800.0M | ||
| Q4 24 | $458.4M | $773.5M | ||
| Q3 24 | $451.0M | $756.2M | ||
| Q2 24 | $390.4M | $721.4M | ||
| Q1 24 | — | $707.8M |
| Q4 25 | $959.5M | $1.3B | ||
| Q3 25 | $936.9M | $1.3B | ||
| Q2 25 | $930.8M | $1.2B | ||
| Q1 25 | $910.1M | $1.2B | ||
| Q4 24 | $908.7M | $1.1B | ||
| Q3 24 | $748.3M | $1.1B | ||
| Q2 24 | $684.9M | $1.0B | ||
| Q1 24 | — | $997.1M |
| 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× | — | ||
| Q1 24 | — | — |
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 | $50.7M |
| Free Cash FlowOCF − Capex | $4.9M | $49.9M |
| FCF MarginFCF / Revenue | 4.4% | 34.3% |
| Capex IntensityCapex / Revenue | 4.6% | 0.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $12.9M | $142.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.2M | $50.7M | ||
| Q3 25 | $5.5M | $30.2M | ||
| Q2 25 | $4.7M | $36.1M | ||
| Q1 25 | $13.5M | $28.8M | ||
| Q4 24 | $-6.1M | $49.1M | ||
| Q3 24 | $-3.2M | $27.6M | ||
| Q2 24 | $-7.6M | $16.7M | ||
| Q1 24 | — | $17.5M |
| Q4 25 | $4.9M | $49.9M | ||
| Q3 25 | $1.2M | $28.8M | ||
| Q2 25 | $-3.4M | $35.5M | ||
| Q1 25 | $10.1M | $28.1M | ||
| Q4 24 | $-12.2M | $48.5M | ||
| Q3 24 | $-8.0M | $26.7M | ||
| Q2 24 | $-13.2M | $16.0M | ||
| Q1 24 | — | $16.6M |
| Q4 25 | 4.4% | 34.3% | ||
| Q3 25 | 1.1% | 21.0% | ||
| Q2 25 | -3.3% | 27.9% | ||
| Q1 25 | 9.8% | 23.0% | ||
| Q4 24 | -11.5% | 41.8% | ||
| Q3 24 | -10.4% | 24.5% | ||
| Q2 24 | -17.5% | 15.5% | ||
| Q1 24 | — | 16.6% |
| Q4 25 | 4.6% | 0.6% | ||
| Q3 25 | 3.9% | 1.0% | ||
| Q2 25 | 7.8% | 0.5% | ||
| Q1 25 | 3.3% | 0.5% | ||
| Q4 24 | 5.8% | 0.5% | ||
| Q3 24 | 6.3% | 0.9% | ||
| Q2 24 | 7.4% | 0.7% | ||
| Q1 24 | — | 0.8% |
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% |
FROG
Segment breakdown not available.
