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Side-by-side financial comparison of Powerfleet, Inc. (AIOT) and H2O AMERICA (HTO). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $113.5M, roughly 1.8× Powerfleet, Inc.). H2O AMERICA runs the higher net margin — 8.1% vs -3.0%, a 11.1% gap on every dollar of revenue. On growth, Powerfleet, Inc. posted the faster year-over-year revenue change (6.6% vs 1.5%). Over the past eight quarters, Powerfleet, Inc.'s revenue compounded faster (81.2% CAGR vs 15.3%).
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.
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
AIOT vs HTO — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.5M | $199.4M |
| Net Profit | $-3.4M | $16.2M |
| Gross Margin | 55.2% | — |
| Operating Margin | 5.6% | 16.6% |
| Net Margin | -3.0% | 8.1% |
| Revenue YoY | 6.6% | 1.5% |
| Net Profit YoY | 76.6% | -29.2% |
| EPS (diluted) | $-0.03 | $0.45 |
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 | $199.4M | ||
| Q3 25 | $111.7M | $243.5M | ||
| Q2 25 | $104.1M | $197.8M | ||
| Q1 25 | $103.6M | $164.9M | ||
| Q4 24 | $106.4M | $196.5M | ||
| Q3 24 | $77.0M | $216.7M | ||
| Q2 24 | $75.4M | $173.1M | ||
| Q1 24 | — | $150.0M |
| Q4 25 | $-3.4M | $16.2M | ||
| Q3 25 | $-4.3M | $45.1M | ||
| Q2 25 | $-10.2M | $24.7M | ||
| Q1 25 | $-12.4M | $16.6M | ||
| Q4 24 | $-14.3M | $22.9M | ||
| Q3 24 | $-1.9M | $38.7M | ||
| Q2 24 | $-22.3M | $20.7M | ||
| Q1 24 | — | $11.7M |
| Q4 25 | 55.2% | — | ||
| Q3 25 | 56.0% | — | ||
| Q2 25 | 54.2% | — | ||
| Q1 25 | 52.8% | — | ||
| Q4 24 | 55.2% | — | ||
| Q3 24 | 53.7% | — | ||
| Q2 24 | 52.6% | — | ||
| Q1 24 | — | — |
| Q4 25 | 5.6% | 16.6% | ||
| Q3 25 | 3.8% | 26.5% | ||
| Q2 25 | -2.0% | 22.2% | ||
| Q1 25 | -6.7% | 21.8% | ||
| Q4 24 | -1.2% | 22.2% | ||
| Q3 24 | 0.7% | 26.9% | ||
| Q2 24 | -24.2% | 23.4% | ||
| Q1 24 | — | 18.6% |
| Q4 25 | -3.0% | 8.1% | ||
| Q3 25 | -3.8% | 18.5% | ||
| Q2 25 | -9.8% | 12.5% | ||
| Q1 25 | -12.0% | 10.0% | ||
| Q4 24 | -13.5% | 11.7% | ||
| Q3 24 | -2.5% | 17.8% | ||
| Q2 24 | -29.6% | 12.0% | ||
| Q1 24 | — | 7.8% |
| Q4 25 | $-0.03 | $0.45 | ||
| Q3 25 | $-0.03 | $1.27 | ||
| Q2 25 | $-0.08 | $0.71 | ||
| Q1 25 | $-0.09 | $0.49 | ||
| Q4 24 | $-0.11 | $0.70 | ||
| Q3 24 | $-0.02 | $1.17 | ||
| Q2 24 | $-0.21 | $0.64 | ||
| Q1 24 | — | $0.36 |
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 | $20.7M |
| Total DebtLower is stronger | $237.8M | $1.9B |
| Stockholders' EquityBook value | $485.0M | $1.5B |
| Total Assets | $959.5M | $5.1B |
| Debt / EquityLower = less leverage | 0.49× | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.2M | $20.7M | ||
| Q3 25 | $27.9M | $11.3M | ||
| Q2 25 | $31.2M | $19.8M | ||
| Q1 25 | $44.4M | $23.7M | ||
| Q4 24 | $33.6M | $11.1M | ||
| Q3 24 | $26.0M | $4.0M | ||
| Q2 24 | $30.2M | $22.8M | ||
| Q1 24 | — | $4.5M |
| Q4 25 | $237.8M | $1.9B | ||
| Q3 25 | $238.2M | — | ||
| Q2 25 | $239.0M | — | ||
| Q1 25 | $237.5M | — | ||
| Q4 24 | $238.5M | $1.7B | ||
| Q3 24 | $113.6M | — | ||
| Q2 24 | $113.7M | — | ||
| Q1 24 | — | — |
| Q4 25 | $485.0M | $1.5B | ||
| Q3 25 | $468.8M | $1.5B | ||
| Q2 25 | $460.7M | $1.5B | ||
| Q1 25 | $446.6M | $1.4B | ||
| Q4 24 | $458.4M | $1.4B | ||
| Q3 24 | $451.0M | $1.3B | ||
| Q2 24 | $390.4M | $1.3B | ||
| Q1 24 | — | $1.2B |
| Q4 25 | $959.5M | $5.1B | ||
| Q3 25 | $936.9M | $5.0B | ||
| Q2 25 | $930.8M | $4.8B | ||
| Q1 25 | $910.1M | $4.7B | ||
| Q4 24 | $908.7M | $4.7B | ||
| Q3 24 | $748.3M | $4.6B | ||
| Q2 24 | $684.9M | $4.4B | ||
| Q1 24 | — | $4.4B |
| Q4 25 | 0.49× | 1.23× | ||
| Q3 25 | 0.51× | — | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.53× | — | ||
| Q4 24 | 0.52× | 1.26× | ||
| 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 | $63.5M |
| Free Cash FlowOCF − Capex | $4.9M | — |
| FCF MarginFCF / Revenue | 4.4% | — |
| Capex IntensityCapex / Revenue | 4.6% | — |
| Cash ConversionOCF / Net Profit | — | 3.92× |
| TTM Free Cash FlowTrailing 4 quarters | $12.9M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.2M | $63.5M | ||
| Q3 25 | $5.5M | $77.3M | ||
| Q2 25 | $4.7M | $60.8M | ||
| Q1 25 | $13.5M | $43.2M | ||
| Q4 24 | $-6.1M | $41.5M | ||
| Q3 24 | $-3.2M | $53.5M | ||
| Q2 24 | $-7.6M | $49.3M | ||
| Q1 24 | — | $51.2M |
| 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 24 | — | — |
| 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 24 | — | — |
| 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 24 | — | — |
| Q4 25 | — | 3.92× | ||
| Q3 25 | — | 1.71× | ||
| Q2 25 | — | 2.47× | ||
| Q1 25 | — | 2.61× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | — | 1.39× | ||
| Q2 24 | — | 2.38× | ||
| Q1 24 | — | 4.38× |
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% |
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
