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Side-by-side financial comparison of Powerfleet, Inc. (AIOT) and NETSTREIT Corp. (NTST). Click either name above to swap in a different company.
Powerfleet, Inc. is the larger business by last-quarter revenue ($113.5M vs $57.1M, roughly 2.0× NETSTREIT Corp.). NETSTREIT Corp. runs the higher net margin — 10.0% vs -3.0%, a 13.0% gap on every dollar of revenue. On growth, NETSTREIT Corp. posted the faster year-over-year revenue change (24.3% vs 6.6%). Over the past eight quarters, Powerfleet, Inc.'s revenue compounded faster (81.2% CAGR vs 20.1%).
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.
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
AIOT vs NTST — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $113.5M | $57.1M |
| Net Profit | $-3.4M | $5.7M |
| Gross Margin | 55.2% | — |
| Operating Margin | 5.6% | 34.1% |
| Net Margin | -3.0% | 10.0% |
| Revenue YoY | 6.6% | 24.3% |
| Net Profit YoY | 76.6% | 235.9% |
| EPS (diluted) | $-0.03 | $0.32 |
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 | — | $57.1M | ||
| Q4 25 | $113.5M | $52.5M | ||
| Q3 25 | $111.7M | $48.3M | ||
| Q2 25 | $104.1M | $48.3M | ||
| Q1 25 | $103.6M | $45.9M | ||
| Q4 24 | $106.4M | $44.1M | ||
| Q3 24 | $77.0M | $41.4M | ||
| Q2 24 | $75.4M | $39.6M |
| Q1 26 | — | $5.7M | ||
| Q4 25 | $-3.4M | $1.3M | ||
| Q3 25 | $-4.3M | $618.0K | ||
| Q2 25 | $-10.2M | $3.3M | ||
| Q1 25 | $-12.4M | $1.7M | ||
| Q4 24 | $-14.3M | $-5.4M | ||
| Q3 24 | $-1.9M | $-5.3M | ||
| Q2 24 | $-22.3M | $-2.3M |
| Q1 26 | — | — | ||
| 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 26 | — | 34.1% | ||
| Q4 25 | 5.6% | 2.6% | ||
| Q3 25 | 3.8% | 1.3% | ||
| Q2 25 | -2.0% | 6.8% | ||
| Q1 25 | -6.7% | 3.7% | ||
| Q4 24 | -1.2% | -12.3% | ||
| Q3 24 | 0.7% | -12.8% | ||
| Q2 24 | -24.2% | -5.8% |
| Q1 26 | — | 10.0% | ||
| Q4 25 | -3.0% | 2.5% | ||
| Q3 25 | -3.8% | 1.3% | ||
| Q2 25 | -9.8% | 6.8% | ||
| Q1 25 | -12.0% | 3.7% | ||
| Q4 24 | -13.5% | -12.3% | ||
| Q3 24 | -2.5% | -12.8% | ||
| Q2 24 | -29.6% | -5.8% |
| Q1 26 | — | $0.32 | ||
| Q4 25 | $-0.03 | $0.01 | ||
| Q3 25 | $-0.03 | $0.01 | ||
| Q2 25 | $-0.08 | $0.04 | ||
| Q1 25 | $-0.09 | $0.02 | ||
| Q4 24 | $-0.11 | $-0.07 | ||
| Q3 24 | $-0.02 | $-0.07 | ||
| Q2 24 | $-0.21 | $-0.03 |
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 | — |
| Total DebtLower is stronger | $237.8M | — |
| Stockholders' EquityBook value | $485.0M | $1.5B |
| Total Assets | $959.5M | $2.8B |
| Debt / EquityLower = less leverage | 0.49× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $31.2M | — | ||
| Q3 25 | $27.9M | — | ||
| Q2 25 | $31.2M | — | ||
| Q1 25 | $44.4M | — | ||
| Q4 24 | $33.6M | — | ||
| Q3 24 | $26.0M | — | ||
| Q2 24 | $30.2M | — |
| Q1 26 | — | — | ||
| Q4 25 | $237.8M | $1.1B | ||
| Q3 25 | $238.2M | $1.1B | ||
| Q2 25 | $239.0M | $926.6M | ||
| Q1 25 | $237.5M | $913.3M | ||
| Q4 24 | $238.5M | $868.3M | ||
| Q3 24 | $113.6M | $778.7M | ||
| Q2 24 | $113.7M | $726.2M |
| Q1 26 | — | $1.5B | ||
| Q4 25 | $485.0M | $1.4B | ||
| Q3 25 | $468.8M | $1.3B | ||
| Q2 25 | $460.7M | $1.3B | ||
| Q1 25 | $446.6M | $1.3B | ||
| Q4 24 | $458.4M | $1.3B | ||
| Q3 24 | $451.0M | $1.3B | ||
| Q2 24 | $390.4M | $1.3B |
| Q1 26 | — | $2.8B | ||
| Q4 25 | $959.5M | $2.6B | ||
| Q3 25 | $936.9M | $2.5B | ||
| Q2 25 | $930.8M | $2.3B | ||
| Q1 25 | $910.1M | $2.3B | ||
| Q4 24 | $908.7M | $2.3B | ||
| Q3 24 | $748.3M | $2.2B | ||
| Q2 24 | $684.9M | $2.1B |
| Q1 26 | — | — | ||
| Q4 25 | 0.49× | 0.76× | ||
| Q3 25 | 0.51× | 0.84× | ||
| Q2 25 | 0.52× | 0.70× | ||
| Q1 25 | 0.53× | 0.70× | ||
| Q4 24 | 0.52× | 0.65× | ||
| Q3 24 | 0.25× | 0.58× | ||
| Q2 24 | 0.29× | 0.55× |
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 | — |
| FCF MarginFCF / Revenue | 4.4% | — |
| 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 | $109.5M | ||
| Q3 25 | $5.5M | $28.0M | ||
| Q2 25 | $4.7M | $30.6M | ||
| Q1 25 | $13.5M | $22.1M | ||
| Q4 24 | $-6.1M | $90.2M | ||
| Q3 24 | $-3.2M | $25.1M | ||
| Q2 24 | $-7.6M | $25.4M |
| Q1 26 | — | — | ||
| 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 | — | — | ||
| 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 | — | 82.46× | ||
| Q3 25 | — | 45.27× | ||
| Q2 25 | — | 9.36× | ||
| Q1 25 | — | 13.06× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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% |
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
