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Side-by-side financial comparison of Powerfleet, Inc. (AIOT) and Repay Holdings Corp (RPAY). Click either name above to swap in a different company.
Powerfleet, Inc. is the larger business by last-quarter revenue ($113.5M vs $78.6M, roughly 1.4× Repay Holdings Corp). Powerfleet, Inc. runs the higher net margin — -3.0% vs -178.3%, a 175.3% gap on every dollar of revenue. On growth, Powerfleet, Inc. posted the faster year-over-year revenue change (6.6% vs 0.4%). Repay Holdings Corp produced more free cash flow last quarter ($23.2M vs $4.9M). Over the past eight quarters, Powerfleet, Inc.'s revenue compounded faster (81.2% CAGR vs -1.3%).
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.
Repay Holdings Corp is a leading payment technology provider delivering integrated end-to-end payment processing solutions for businesses across North America. Its offerings include credit/debit card processing, ACH transfer services, POS system integrations and digital payment tools, serving retail, healthcare, automotive and e-commerce segments to help clients streamline transaction workflows and boost operational efficiency.
AIOT vs RPAY — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.5M | $78.6M |
| Net Profit | $-3.4M | $-140.1M |
| Gross Margin | 55.2% | 74.2% |
| Operating Margin | 5.6% | -182.2% |
| Net Margin | -3.0% | -178.3% |
| Revenue YoY | 6.6% | 0.4% |
| Net Profit YoY | 76.6% | -3304.1% |
| EPS (diluted) | $-0.03 | $-1.68 |
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 | $78.6M | ||
| Q3 25 | $111.7M | $77.7M | ||
| Q2 25 | $104.1M | $75.6M | ||
| Q1 25 | $103.6M | $77.3M | ||
| Q4 24 | $106.4M | $78.3M | ||
| Q3 24 | $77.0M | $79.1M | ||
| Q2 24 | $75.4M | $74.9M | ||
| Q1 24 | — | $80.7M |
| Q4 25 | $-3.4M | $-140.1M | ||
| Q3 25 | $-4.3M | $-6.4M | ||
| Q2 25 | $-10.2M | $-102.3M | ||
| Q1 25 | $-12.4M | $-7.9M | ||
| Q4 24 | $-14.3M | $-4.1M | ||
| Q3 24 | $-1.9M | $3.2M | ||
| Q2 24 | $-22.3M | $-4.1M | ||
| Q1 24 | — | $-5.2M |
| Q4 25 | 55.2% | 74.2% | ||
| Q3 25 | 56.0% | 74.4% | ||
| Q2 25 | 54.2% | 75.7% | ||
| Q1 25 | 52.8% | 75.9% | ||
| Q4 24 | 55.2% | 76.3% | ||
| Q3 24 | 53.7% | 77.8% | ||
| Q2 24 | 52.6% | 78.2% | ||
| Q1 24 | — | 76.2% |
| Q4 25 | 5.6% | -182.2% | ||
| Q3 25 | 3.8% | -3.9% | ||
| Q2 25 | -2.0% | -138.7% | ||
| Q1 25 | -6.7% | -4.7% | ||
| Q4 24 | -1.2% | -1.5% | ||
| Q3 24 | 0.7% | -0.9% | ||
| Q2 24 | -24.2% | -4.6% | ||
| Q1 24 | — | -3.1% |
| Q4 25 | -3.0% | -178.3% | ||
| Q3 25 | -3.8% | -8.3% | ||
| Q2 25 | -9.8% | -135.2% | ||
| Q1 25 | -12.0% | -10.3% | ||
| Q4 24 | -13.5% | -5.3% | ||
| Q3 24 | -2.5% | 4.1% | ||
| Q2 24 | -29.6% | -5.4% | ||
| Q1 24 | — | -6.5% |
| Q4 25 | $-0.03 | $-1.68 | ||
| Q3 25 | $-0.03 | $-0.08 | ||
| Q2 25 | $-0.08 | $-1.15 | ||
| Q1 25 | $-0.09 | $-0.09 | ||
| Q4 24 | $-0.11 | $-0.04 | ||
| Q3 24 | $-0.02 | $0.03 | ||
| Q2 24 | $-0.21 | $-0.04 | ||
| Q1 24 | — | $-0.06 |
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 | $115.7M |
| Total DebtLower is stronger | $237.8M | $280.1M |
| Stockholders' EquityBook value | $485.0M | $484.4M |
| Total Assets | $959.5M | $1.2B |
| Debt / EquityLower = less leverage | 0.49× | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.2M | $115.7M | ||
| Q3 25 | $27.9M | $95.7M | ||
| Q2 25 | $31.2M | $162.6M | ||
| Q1 25 | $44.4M | $165.5M | ||
| Q4 24 | $33.6M | $189.5M | ||
| Q3 24 | $26.0M | $168.7M | ||
| Q2 24 | $30.2M | $147.1M | ||
| Q1 24 | — | $128.3M |
| Q4 25 | $237.8M | $280.1M | ||
| Q3 25 | $238.2M | $279.5M | ||
| Q2 25 | $239.0M | $279.0M | ||
| Q1 25 | $237.5M | $497.6M | ||
| Q4 24 | $238.5M | $496.8M | ||
| Q3 24 | $113.6M | $496.2M | ||
| Q2 24 | $113.7M | $435.6M | ||
| Q1 24 | — | $434.9M |
| Q4 25 | $485.0M | $484.4M | ||
| Q3 25 | $468.8M | $616.9M | ||
| Q2 25 | $460.7M | $633.7M | ||
| Q1 25 | $446.6M | $755.7M | ||
| Q4 24 | $458.4M | $761.3M | ||
| Q3 24 | $451.0M | $754.7M | ||
| Q2 24 | $390.4M | $815.4M | ||
| Q1 24 | — | $813.8M |
| Q4 25 | $959.5M | $1.2B | ||
| Q3 25 | $936.9M | $1.3B | ||
| Q2 25 | $930.8M | $1.4B | ||
| Q1 25 | $910.1M | $1.5B | ||
| Q4 24 | $908.7M | $1.6B | ||
| Q3 24 | $748.3M | $1.6B | ||
| Q2 24 | $684.9M | $1.5B | ||
| Q1 24 | — | $1.5B |
| Q4 25 | 0.49× | 0.58× | ||
| Q3 25 | 0.51× | 0.45× | ||
| Q2 25 | 0.52× | 0.44× | ||
| Q1 25 | 0.53× | 0.66× | ||
| Q4 24 | 0.52× | 0.65× | ||
| Q3 24 | 0.25× | 0.66× | ||
| Q2 24 | 0.29× | 0.53× | ||
| Q1 24 | — | 0.53× |
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 | $23.3M |
| Free Cash FlowOCF − Capex | $4.9M | $23.2M |
| FCF MarginFCF / Revenue | 4.4% | 29.6% |
| Capex IntensityCapex / Revenue | 4.6% | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $12.9M | $90.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.2M | $23.3M | ||
| Q3 25 | $5.5M | $32.2M | ||
| Q2 25 | $4.7M | $33.1M | ||
| Q1 25 | $13.5M | $2.5M | ||
| Q4 24 | $-6.1M | $34.3M | ||
| Q3 24 | $-3.2M | $60.1M | ||
| Q2 24 | $-7.6M | $31.0M | ||
| Q1 24 | — | $24.8M |
| Q4 25 | $4.9M | $23.2M | ||
| Q3 25 | $1.2M | $32.1M | ||
| Q2 25 | $-3.4M | $33.0M | ||
| Q1 25 | $10.1M | $2.4M | ||
| Q4 24 | $-12.2M | $34.0M | ||
| Q3 24 | $-8.0M | $59.8M | ||
| Q2 24 | $-13.2M | $30.5M | ||
| Q1 24 | — | $24.7M |
| Q4 25 | 4.4% | 29.6% | ||
| Q3 25 | 1.1% | 41.3% | ||
| Q2 25 | -3.3% | 43.6% | ||
| Q1 25 | 9.8% | 3.0% | ||
| Q4 24 | -11.5% | 43.5% | ||
| Q3 24 | -10.4% | 75.6% | ||
| Q2 24 | -17.5% | 40.7% | ||
| Q1 24 | — | 30.6% |
| Q4 25 | 4.6% | 0.1% | ||
| Q3 25 | 3.9% | 0.2% | ||
| Q2 25 | 7.8% | 0.1% | ||
| Q1 25 | 3.3% | 0.2% | ||
| Q4 24 | 5.8% | 0.3% | ||
| Q3 24 | 6.3% | 0.3% | ||
| Q2 24 | 7.4% | 0.6% | ||
| Q1 24 | — | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 18.52× | ||
| Q2 24 | — | — | ||
| Q1 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% |
RPAY
| Sales Channel Directly To Consumer | $69.4M | 88% |
| Other | $6.8M | 9% |
| Sales Channel Through Intermediary | $2.3M | 3% |
