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Side-by-side financial comparison of Powerfleet, Inc. (AIOT) and Industrial Logistics Properties Trust (ILPT). Click either name above to swap in a different company.
Industrial Logistics Properties Trust is the larger business by last-quarter revenue ($113.9M vs $113.5M, roughly 1.0× Powerfleet, Inc.). Industrial Logistics Properties Trust runs the higher net margin — -1.6% vs -3.0%, a 1.4% gap on every dollar of revenue. On growth, Powerfleet, Inc. posted the faster year-over-year revenue change (6.6% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $4.9M). Over the past eight quarters, Powerfleet, Inc.'s revenue compounded faster (81.2% CAGR vs 0.7%).
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.
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
AIOT vs ILPT — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.5M | $113.9M |
| Net Profit | $-3.4M | $-1.8M |
| Gross Margin | 55.2% | — |
| Operating Margin | 5.6% | -22.1% |
| Net Margin | -3.0% | -1.6% |
| Revenue YoY | 6.6% | 3.1% |
| Net Profit YoY | 76.6% | 92.6% |
| EPS (diluted) | $-0.03 | $-0.02 |
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 | $113.9M | ||
| Q3 25 | $111.7M | $110.9M | ||
| Q2 25 | $104.1M | $112.1M | ||
| Q1 25 | $103.6M | $111.9M | ||
| Q4 24 | $106.4M | $110.5M | ||
| Q3 24 | $77.0M | $108.9M | ||
| Q2 24 | $75.4M | $110.6M | ||
| Q1 24 | — | $112.2M |
| Q4 25 | $-3.4M | $-1.8M | ||
| Q3 25 | $-4.3M | $-21.6M | ||
| Q2 25 | $-10.2M | $-21.3M | ||
| Q1 25 | $-12.4M | $-21.5M | ||
| Q4 24 | $-14.3M | $-24.1M | ||
| Q3 24 | $-1.9M | $-25.0M | ||
| Q2 24 | $-22.3M | $-23.2M | ||
| Q1 24 | — | $-23.4M |
| 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% | -22.1% | ||
| Q3 25 | 3.8% | -29.4% | ||
| Q2 25 | -2.0% | -30.8% | ||
| Q1 25 | -6.7% | -26.9% | ||
| Q4 24 | -1.2% | -31.1% | ||
| Q3 24 | 0.7% | -33.5% | ||
| Q2 24 | -24.2% | -32.4% | ||
| Q1 24 | — | -31.7% |
| Q4 25 | -3.0% | -1.6% | ||
| Q3 25 | -3.8% | -19.4% | ||
| Q2 25 | -9.8% | -19.0% | ||
| Q1 25 | -12.0% | -19.2% | ||
| Q4 24 | -13.5% | -21.8% | ||
| Q3 24 | -2.5% | -22.9% | ||
| Q2 24 | -29.6% | -20.9% | ||
| Q1 24 | — | -20.9% |
| Q4 25 | $-0.03 | $-0.02 | ||
| Q3 25 | $-0.03 | $-0.33 | ||
| Q2 25 | $-0.08 | $-0.32 | ||
| Q1 25 | $-0.09 | $-0.33 | ||
| Q4 24 | $-0.11 | $-0.37 | ||
| Q3 24 | $-0.02 | $-0.38 | ||
| Q2 24 | $-0.21 | $-0.35 | ||
| 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 | $94.8M |
| Total DebtLower is stronger | $237.8M | $4.2B |
| Stockholders' EquityBook value | $485.0M | $489.7M |
| Total Assets | $959.5M | $5.2B |
| Debt / EquityLower = less leverage | 0.49× | 8.56× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.2M | $94.8M | ||
| Q3 25 | $27.9M | $83.2M | ||
| Q2 25 | $31.2M | $58.6M | ||
| Q1 25 | $44.4M | $108.0M | ||
| Q4 24 | $33.6M | $131.7M | ||
| Q3 24 | $26.0M | $153.9M | ||
| Q2 24 | $30.2M | $146.2M | ||
| Q1 24 | — | $128.4M |
| Q4 25 | $237.8M | $4.2B | ||
| Q3 25 | $238.2M | $4.2B | ||
| Q2 25 | $239.0M | $4.2B | ||
| Q1 25 | $237.5M | $4.3B | ||
| Q4 24 | $238.5M | $4.3B | ||
| Q3 24 | $113.6M | $4.3B | ||
| Q2 24 | $113.7M | $4.3B | ||
| Q1 24 | — | $4.3B |
| Q4 25 | $485.0M | $489.7M | ||
| Q3 25 | $468.8M | $494.1M | ||
| Q2 25 | $460.7M | $519.1M | ||
| Q1 25 | $446.6M | $539.5M | ||
| Q4 24 | $458.4M | $562.0M | ||
| Q3 24 | $451.0M | $585.9M | ||
| Q2 24 | $390.4M | $618.3M | ||
| Q1 24 | — | $643.2M |
| Q4 25 | $959.5M | $5.2B | ||
| Q3 25 | $936.9M | $5.2B | ||
| Q2 25 | $930.8M | $5.2B | ||
| Q1 25 | $910.1M | $5.4B | ||
| Q4 24 | $908.7M | $5.4B | ||
| Q3 24 | $748.3M | $5.5B | ||
| Q2 24 | $684.9M | $5.5B | ||
| Q1 24 | — | $5.5B |
| Q4 25 | 0.49× | 8.56× | ||
| Q3 25 | 0.51× | 8.49× | ||
| Q2 25 | 0.52× | 8.09× | ||
| Q1 25 | 0.53× | 7.96× | ||
| Q4 24 | 0.52× | 7.65× | ||
| Q3 24 | 0.25× | 7.35× | ||
| Q2 24 | 0.29× | 6.96× | ||
| Q1 24 | — | 6.70× |
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 | $60.7M |
| Free Cash FlowOCF − Capex | $4.9M | $42.0M |
| FCF MarginFCF / Revenue | 4.4% | 36.9% |
| Capex IntensityCapex / Revenue | 4.6% | 16.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $12.9M | $79.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.2M | $60.7M | ||
| Q3 25 | $5.5M | $22.7M | ||
| Q2 25 | $4.7M | $18.4M | ||
| Q1 25 | $13.5M | $11.4M | ||
| Q4 24 | $-6.1M | $2.0M | ||
| Q3 24 | $-3.2M | $-3.4M | ||
| Q2 24 | $-7.6M | $10.8M | ||
| Q1 24 | — | $8.0M |
| Q4 25 | $4.9M | $42.0M | ||
| Q3 25 | $1.2M | $17.6M | ||
| Q2 25 | $-3.4M | $15.2M | ||
| Q1 25 | $10.1M | $5.0M | ||
| Q4 24 | $-12.2M | $-3.7M | ||
| Q3 24 | $-8.0M | $-5.9M | ||
| Q2 24 | $-13.2M | $9.4M | ||
| Q1 24 | — | $5.9M |
| Q4 25 | 4.4% | 36.9% | ||
| Q3 25 | 1.1% | 15.9% | ||
| Q2 25 | -3.3% | 13.5% | ||
| Q1 25 | 9.8% | 4.5% | ||
| Q4 24 | -11.5% | -3.4% | ||
| Q3 24 | -10.4% | -5.5% | ||
| Q2 24 | -17.5% | 8.5% | ||
| Q1 24 | — | 5.2% |
| Q4 25 | 4.6% | 16.4% | ||
| Q3 25 | 3.9% | 4.6% | ||
| Q2 25 | 7.8% | 2.9% | ||
| Q1 25 | 3.3% | 5.7% | ||
| Q4 24 | 5.8% | 5.2% | ||
| Q3 24 | 6.3% | 2.3% | ||
| Q2 24 | 7.4% | 1.3% | ||
| Q1 24 | — | 1.9% |
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% |
ILPT
Segment breakdown not available.
