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Side-by-side financial comparison of Powerfleet, Inc. (AIOT) and OPAL Fuels Inc. (OPAL). Click either name above to swap in a different company.
Powerfleet, Inc. is the larger business by last-quarter revenue ($113.5M vs $88.4M, roughly 1.3× OPAL Fuels Inc.). OPAL Fuels Inc. runs the higher net margin — 18.3% vs -3.0%, a 21.3% gap on every dollar of revenue. On growth, OPAL Fuels Inc. posted the faster year-over-year revenue change (18.7% vs 6.6%). Powerfleet, Inc. produced more free cash flow last quarter ($4.9M vs $-13.4M). Over the past eight quarters, Powerfleet, Inc.'s revenue compounded faster (81.2% CAGR vs 17.6%).
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.
OPAL Fuels Inc. is a North American energy company focused on producing and distributing low-carbon renewable natural gas (RNG). It captures methane from landfills, dairy operations and other organic waste streams to produce RNG, which is mainly supplied to heavy-duty transportation fleets, commercial logistics operators and public transport entities to help reduce their greenhouse gas emissions.
AIOT vs OPAL — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.5M | $88.4M |
| Net Profit | $-3.4M | $16.2M |
| Gross Margin | 55.2% | — |
| Operating Margin | 5.6% | 7.5% |
| Net Margin | -3.0% | 18.3% |
| Revenue YoY | 6.6% | 18.7% |
| Net Profit YoY | 76.6% | 401.5% |
| EPS (diluted) | $-0.03 | $0.08 |
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 | $88.4M | ||
| Q3 25 | $111.7M | $77.9M | ||
| Q2 25 | $104.1M | $77.4M | ||
| Q1 25 | $103.6M | $83.0M | ||
| Q4 24 | $106.4M | $74.5M | ||
| Q3 24 | $77.0M | $82.6M | ||
| Q2 24 | $75.4M | $69.8M | ||
| Q1 24 | — | $64.0M |
| Q4 25 | $-3.4M | $16.2M | ||
| Q3 25 | $-4.3M | $11.4M | ||
| Q2 25 | $-10.2M | $7.6M | ||
| Q1 25 | $-12.4M | $1.3M | ||
| Q4 24 | $-14.3M | $-5.4M | ||
| Q3 24 | $-1.9M | $17.1M | ||
| Q2 24 | $-22.3M | $1.9M | ||
| Q1 24 | — | $677.0K |
| 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% | 7.5% | ||
| Q3 25 | 3.8% | 4.6% | ||
| Q2 25 | -2.0% | -1.1% | ||
| Q1 25 | -6.7% | -2.3% | ||
| Q4 24 | -1.2% | -0.5% | ||
| Q3 24 | 0.7% | 14.9% | ||
| Q2 24 | -24.2% | 8.1% | ||
| Q1 24 | — | 5.6% |
| Q4 25 | -3.0% | 18.3% | ||
| Q3 25 | -3.8% | 14.6% | ||
| Q2 25 | -9.8% | 9.8% | ||
| Q1 25 | -12.0% | 1.5% | ||
| Q4 24 | -13.5% | -7.2% | ||
| Q3 24 | -2.5% | 20.7% | ||
| Q2 24 | -29.6% | 2.7% | ||
| Q1 24 | — | 1.1% |
| Q4 25 | $-0.03 | $0.08 | ||
| Q3 25 | $-0.03 | $0.05 | ||
| Q2 25 | $-0.08 | $0.03 | ||
| Q1 25 | $-0.09 | $-0.01 | ||
| Q4 24 | $-0.11 | $-0.05 | ||
| Q3 24 | $-0.02 | $0.09 | ||
| Q2 24 | $-0.21 | $-0.01 | ||
| Q1 24 | — | $-0.01 |
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 | $24.4M |
| Total DebtLower is stronger | $237.8M | $361.3M |
| Stockholders' EquityBook value | $485.0M | $-12.9M |
| Total Assets | $959.5M | $959.5M |
| Debt / EquityLower = less leverage | 0.49× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.2M | $24.4M | ||
| Q3 25 | $27.9M | $29.9M | ||
| Q2 25 | $31.2M | $29.3M | ||
| Q1 25 | $44.4M | $40.1M | ||
| Q4 24 | $33.6M | $24.3M | ||
| Q3 24 | $26.0M | $31.0M | ||
| Q2 24 | $30.2M | $27.6M | ||
| Q1 24 | — | $34.2M |
| Q4 25 | $237.8M | $361.3M | ||
| Q3 25 | $238.2M | $351.2M | ||
| Q2 25 | $239.0M | $331.6M | ||
| Q1 25 | $237.5M | $307.0M | ||
| Q4 24 | $238.5M | $307.5M | ||
| Q3 24 | $113.6M | $252.9M | ||
| Q2 24 | $113.7M | $233.3M | ||
| Q1 24 | — | $208.7M |
| Q4 25 | $485.0M | $-12.9M | ||
| Q3 25 | $468.8M | $7.5M | ||
| Q2 25 | $460.7M | $-25.0M | ||
| Q1 25 | $446.6M | $57.1M | ||
| Q4 24 | $458.4M | $-148.4M | ||
| Q3 24 | $451.0M | $-180.1M | ||
| Q2 24 | $390.4M | $-273.0M | ||
| Q1 24 | — | $-382.4M |
| Q4 25 | $959.5M | $959.5M | ||
| Q3 25 | $936.9M | $916.7M | ||
| Q2 25 | $930.8M | $905.5M | ||
| Q1 25 | $910.1M | $884.9M | ||
| Q4 24 | $908.7M | $881.1M | ||
| Q3 24 | $748.3M | $831.1M | ||
| Q2 24 | $684.9M | $782.3M | ||
| Q1 24 | — | $750.5M |
| Q4 25 | 0.49× | — | ||
| Q3 25 | 0.51× | 46.95× | ||
| Q2 25 | 0.52× | — | ||
| Q1 25 | 0.53× | 5.38× | ||
| 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 | $-3.5M |
| Free Cash FlowOCF − Capex | $4.9M | $-13.4M |
| FCF MarginFCF / Revenue | 4.4% | -15.1% |
| Capex IntensityCapex / Revenue | 4.6% | 11.1% |
| Cash ConversionOCF / Net Profit | — | -0.22× |
| TTM Free Cash FlowTrailing 4 quarters | $12.9M | $-34.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.2M | $-3.5M | ||
| Q3 25 | $5.5M | $18.2M | ||
| Q2 25 | $4.7M | $-7.9M | ||
| Q1 25 | $13.5M | $29.7M | ||
| Q4 24 | $-6.1M | $-532.0K | ||
| Q3 24 | $-3.2M | $17.7M | ||
| Q2 24 | $-7.6M | $533.0K | ||
| Q1 24 | — | $13.7M |
| Q4 25 | $4.9M | $-13.4M | ||
| Q3 25 | $1.2M | $-9.3M | ||
| Q2 25 | $-3.4M | $-29.7M | ||
| Q1 25 | $10.1M | $18.1M | ||
| Q4 24 | $-12.2M | $-55.0M | ||
| Q3 24 | $-8.0M | $-5.4M | ||
| Q2 24 | $-13.2M | $-22.5M | ||
| Q1 24 | — | $-13.0M |
| Q4 25 | 4.4% | -15.1% | ||
| Q3 25 | 1.1% | -11.9% | ||
| Q2 25 | -3.3% | -38.4% | ||
| Q1 25 | 9.8% | 21.8% | ||
| Q4 24 | -11.5% | -73.8% | ||
| Q3 24 | -10.4% | -6.5% | ||
| Q2 24 | -17.5% | -32.2% | ||
| Q1 24 | — | -20.4% |
| Q4 25 | 4.6% | 11.1% | ||
| Q3 25 | 3.9% | 35.3% | ||
| Q2 25 | 7.8% | 28.2% | ||
| Q1 25 | 3.3% | 13.9% | ||
| Q4 24 | 5.8% | 73.1% | ||
| Q3 24 | 6.3% | 27.9% | ||
| Q2 24 | 7.4% | 32.9% | ||
| Q1 24 | — | 41.8% |
| Q4 25 | — | -0.22× | ||
| Q3 25 | — | 1.60× | ||
| Q2 25 | — | -1.04× | ||
| Q1 25 | — | 23.11× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 1.03× | ||
| Q2 24 | — | 0.28× | ||
| Q1 24 | — | 20.26× |
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% |
OPAL
| Fuel Station Services Segment | $65.1M | 74% |
| Related Party | $12.1M | 14% |
| Renewable Power Segment | $8.6M | 10% |
| Other | $2.6M | 3% |
