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Side-by-side financial comparison of Powerfleet, Inc. (AIOT) and Inogen Inc (INGN). Click either name above to swap in a different company.
Powerfleet, Inc. is the larger business by last-quarter revenue ($113.5M vs $68.6M, roughly 1.7× Inogen Inc). On growth, Powerfleet, Inc. posted the faster year-over-year revenue change (6.6% vs 3.4%). Powerfleet, Inc. produced more free cash flow last quarter ($4.9M vs $-1.9M). Over the past eight quarters, Powerfleet, Inc.'s revenue compounded faster (81.2% CAGR vs 4.2%).
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.
Inogen Inc is a medical technology firm specializing in the development, production and distribution of portable oxygen concentrators and associated respiratory care products. It caters primarily to patients with chronic respiratory conditions needing long-term oxygen therapy across North America, Europe and other global markets, focusing on home care and ambulatory patient segments to enhance users' quality of life.
AIOT vs INGN — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.5M | $68.6M |
| Net Profit | $-3.4M | — |
| Gross Margin | 55.2% | 51.4% |
| Operating Margin | 5.6% | -13.6% |
| Net Margin | -3.0% | — |
| Revenue YoY | 6.6% | 3.4% |
| Net Profit YoY | 76.6% | — |
| EPS (diluted) | $-0.03 | $-0.26 |
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 | $68.6M | ||
| Q3 25 | $111.7M | $79.1M | ||
| Q2 25 | $104.1M | $79.2M | ||
| Q1 25 | $103.6M | $68.5M | ||
| Q4 24 | $106.4M | $66.3M | ||
| Q3 24 | $77.0M | $74.9M | ||
| Q2 24 | $75.4M | $74.4M | ||
| Q1 24 | — | $63.1M |
| Q4 25 | $-3.4M | — | ||
| Q3 25 | $-4.3M | $-5.3M | ||
| Q2 25 | $-10.2M | $-4.2M | ||
| Q1 25 | $-12.4M | $-6.2M | ||
| Q4 24 | $-14.3M | — | ||
| Q3 24 | $-1.9M | $-6.0M | ||
| Q2 24 | $-22.3M | $-5.6M | ||
| Q1 24 | — | $-14.6M |
| Q4 25 | 55.2% | 51.4% | ||
| Q3 25 | 56.0% | 52.2% | ||
| Q2 25 | 54.2% | 52.2% | ||
| Q1 25 | 52.8% | 53.1% | ||
| Q4 24 | 55.2% | 54.7% | ||
| Q3 24 | 53.7% | 55.2% | ||
| Q2 24 | 52.6% | 57.4% | ||
| Q1 24 | — | 54.5% |
| Q4 25 | 5.6% | -13.6% | ||
| Q3 25 | 3.8% | -9.0% | ||
| Q2 25 | -2.0% | -7.7% | ||
| Q1 25 | -6.7% | -11.2% | ||
| Q4 24 | -1.2% | -17.2% | ||
| Q3 24 | 0.7% | -10.4% | ||
| Q2 24 | -24.2% | -9.5% | ||
| Q1 24 | — | -25.8% |
| Q4 25 | -3.0% | — | ||
| Q3 25 | -3.8% | -6.7% | ||
| Q2 25 | -9.8% | -5.2% | ||
| Q1 25 | -12.0% | -9.0% | ||
| Q4 24 | -13.5% | — | ||
| Q3 24 | -2.5% | -8.0% | ||
| Q2 24 | -29.6% | -7.5% | ||
| Q1 24 | — | -23.1% |
| Q4 25 | $-0.03 | $-0.26 | ||
| Q3 25 | $-0.03 | $-0.20 | ||
| Q2 25 | $-0.08 | $-0.15 | ||
| Q1 25 | $-0.09 | $-0.25 | ||
| Q4 24 | $-0.11 | $-0.41 | ||
| Q3 24 | $-0.02 | $-0.25 | ||
| Q2 24 | $-0.21 | $-0.24 | ||
| Q1 24 | — | $-0.62 |
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 | $103.7M |
| Total DebtLower is stronger | $237.8M | — |
| Stockholders' EquityBook value | $485.0M | $192.2M |
| Total Assets | $959.5M | $298.6M |
| Debt / EquityLower = less leverage | 0.49× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.2M | $103.7M | ||
| Q3 25 | $27.9M | $106.5M | ||
| Q2 25 | $31.2M | $103.7M | ||
| Q1 25 | $44.4M | $118.9M | ||
| Q4 24 | $33.6M | $113.8M | ||
| Q3 24 | $26.0M | $105.7M | ||
| Q2 24 | $30.2M | $97.9M | ||
| Q1 24 | — | $107.4M |
| 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 | $192.2M | ||
| Q3 25 | $468.8M | $197.2M | ||
| Q2 25 | $460.7M | $199.5M | ||
| Q1 25 | $446.6M | $198.0M | ||
| Q4 24 | $458.4M | $173.9M | ||
| Q3 24 | $451.0M | $185.4M | ||
| Q2 24 | $390.4M | $187.6M | ||
| Q1 24 | — | $191.9M |
| Q4 25 | $959.5M | $298.6M | ||
| Q3 25 | $936.9M | $307.0M | ||
| Q2 25 | $930.8M | $312.0M | ||
| Q1 25 | $910.1M | $308.4M | ||
| Q4 24 | $908.7M | $296.2M | ||
| Q3 24 | $748.3M | $306.2M | ||
| Q2 24 | $684.9M | $308.9M | ||
| Q1 24 | — | $315.6M |
| 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 | $-943.0K |
| Free Cash FlowOCF − Capex | $4.9M | $-1.9M |
| FCF MarginFCF / Revenue | 4.4% | -2.8% |
| Capex IntensityCapex / Revenue | 4.6% | 1.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $12.9M | $-13.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.2M | $-943.0K | ||
| Q3 25 | $5.5M | $2.2M | ||
| Q2 25 | $4.7M | $4.3M | ||
| Q1 25 | $13.5M | $-16.8M | ||
| Q4 24 | $-6.1M | $-3.0M | ||
| Q3 24 | $-3.2M | $7.0M | ||
| Q2 24 | $-7.6M | $6.7M | ||
| Q1 24 | — | $-4.7M |
| Q4 25 | $4.9M | $-1.9M | ||
| Q3 25 | $1.2M | $1.6M | ||
| Q2 25 | $-3.4M | $3.7M | ||
| Q1 25 | $10.1M | $-17.1M | ||
| Q4 24 | $-12.2M | $-3.3M | ||
| Q3 24 | $-8.0M | $5.3M | ||
| Q2 24 | $-13.2M | $6.6M | ||
| Q1 24 | — | $-6.1M |
| Q4 25 | 4.4% | -2.8% | ||
| Q3 25 | 1.1% | 2.0% | ||
| Q2 25 | -3.3% | 4.6% | ||
| Q1 25 | 9.8% | -24.9% | ||
| Q4 24 | -11.5% | -5.0% | ||
| Q3 24 | -10.4% | 7.1% | ||
| Q2 24 | -17.5% | 8.9% | ||
| Q1 24 | — | -9.6% |
| Q4 25 | 4.6% | 1.4% | ||
| Q3 25 | 3.9% | 0.7% | ||
| Q2 25 | 7.8% | 0.9% | ||
| Q1 25 | 3.3% | 0.4% | ||
| Q4 24 | 5.8% | 0.5% | ||
| Q3 24 | 6.3% | 2.2% | ||
| Q2 24 | 7.4% | 0.1% | ||
| Q1 24 | — | 2.1% |
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% |
INGN
| Other | $36.1M | 53% |
| Non Us | $32.5M | 47% |
