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Side-by-side financial comparison of Powerfleet, Inc. (AIOT) and Latham Group, Inc. (SWIM). Click either name above to swap in a different company.
Powerfleet, Inc. is the larger business by last-quarter revenue ($113.5M vs $100.0M, roughly 1.1× Latham Group, Inc.). Powerfleet, Inc. runs the higher net margin — -3.0% vs -7.0%, a 4.1% gap on every dollar of revenue. On growth, Latham Group, Inc. posted the faster year-over-year revenue change (14.5% vs 6.6%). Latham Group, Inc. produced more free cash flow last quarter ($14.1M vs $4.9M). Over the past eight quarters, Powerfleet, Inc.'s revenue compounded faster (81.2% CAGR vs -4.9%).
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.
Latham & Watkins LLP is an American multinational law firm. Founded in 1934 in Los Angeles, California, it is known for its litigation, corporate, and regulatory law practices.
AIOT vs SWIM — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.5M | $100.0M |
| Net Profit | $-3.4M | $-7.0M |
| Gross Margin | 55.2% | 28.0% |
| Operating Margin | 5.6% | -10.7% |
| Net Margin | -3.0% | -7.0% |
| Revenue YoY | 6.6% | 14.5% |
| Net Profit YoY | 76.6% | 76.0% |
| EPS (diluted) | $-0.03 | $-0.06 |
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 | $100.0M | ||
| Q3 25 | $111.7M | $161.9M | ||
| Q2 25 | $104.1M | $172.6M | ||
| Q1 25 | $103.6M | $111.4M | ||
| Q4 24 | $106.4M | $87.3M | ||
| Q3 24 | $77.0M | $150.5M | ||
| Q2 24 | $75.4M | $160.1M | ||
| Q1 24 | — | $110.6M |
| Q4 25 | $-3.4M | $-7.0M | ||
| Q3 25 | $-4.3M | $8.1M | ||
| Q2 25 | $-10.2M | $16.0M | ||
| Q1 25 | $-12.4M | $-6.0M | ||
| Q4 24 | $-14.3M | $-29.2M | ||
| Q3 24 | $-1.9M | $5.9M | ||
| Q2 24 | $-22.3M | $13.3M | ||
| Q1 24 | — | $-7.9M |
| Q4 25 | 55.2% | 28.0% | ||
| Q3 25 | 56.0% | 35.4% | ||
| Q2 25 | 54.2% | 37.1% | ||
| Q1 25 | 52.8% | 29.5% | ||
| Q4 24 | 55.2% | 24.6% | ||
| Q3 24 | 53.7% | 32.4% | ||
| Q2 24 | 52.6% | 33.1% | ||
| Q1 24 | — | 27.7% |
| Q4 25 | 5.6% | -10.7% | ||
| Q3 25 | 3.8% | 13.3% | ||
| Q2 25 | -2.0% | 14.3% | ||
| Q1 25 | -6.7% | -4.4% | ||
| Q4 24 | -1.2% | -14.9% | ||
| Q3 24 | 0.7% | 8.9% | ||
| Q2 24 | -24.2% | 12.5% | ||
| Q1 24 | — | -1.9% |
| Q4 25 | -3.0% | -7.0% | ||
| Q3 25 | -3.8% | 5.0% | ||
| Q2 25 | -9.8% | 9.3% | ||
| Q1 25 | -12.0% | -5.4% | ||
| Q4 24 | -13.5% | -33.4% | ||
| Q3 24 | -2.5% | 3.9% | ||
| Q2 24 | -29.6% | 8.3% | ||
| Q1 24 | — | -7.1% |
| Q4 25 | $-0.03 | $-0.06 | ||
| Q3 25 | $-0.03 | $0.07 | ||
| Q2 25 | $-0.08 | $0.13 | ||
| Q1 25 | $-0.09 | $-0.05 | ||
| Q4 24 | $-0.11 | $-0.24 | ||
| Q3 24 | $-0.02 | $0.05 | ||
| Q2 24 | $-0.21 | $0.11 | ||
| Q1 24 | — | $-0.07 |
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 | $279.8M |
| Stockholders' EquityBook value | $485.0M | $405.9M |
| Total Assets | $959.5M | $823.2M |
| Debt / EquityLower = less leverage | 0.49× | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| 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 24 | — | — |
| Q4 25 | $237.8M | $279.8M | ||
| Q3 25 | $238.2M | $281.1M | ||
| Q2 25 | $239.0M | $281.5M | ||
| Q1 25 | $237.5M | $306.9M | ||
| Q4 24 | $238.5M | $281.5M | ||
| Q3 24 | $113.6M | $282.8M | ||
| Q2 24 | $113.7M | $282.4M | ||
| Q1 24 | — | $282.8M |
| Q4 25 | $485.0M | $405.9M | ||
| Q3 25 | $468.8M | $408.4M | ||
| Q2 25 | $460.7M | $398.4M | ||
| Q1 25 | $446.6M | $381.1M | ||
| Q4 24 | $458.4M | $387.2M | ||
| Q3 24 | $451.0M | $416.6M | ||
| Q2 24 | $390.4M | $408.1M | ||
| Q1 24 | — | $391.8M |
| Q4 25 | $959.5M | $823.2M | ||
| Q3 25 | $936.9M | $844.4M | ||
| Q2 25 | $930.8M | $822.1M | ||
| Q1 25 | $910.1M | $824.6M | ||
| Q4 24 | $908.7M | $794.2M | ||
| Q3 24 | $748.3M | $853.4M | ||
| Q2 24 | $684.9M | $830.0M | ||
| Q1 24 | — | $808.6M |
| Q4 25 | 0.49× | 0.69× | ||
| Q3 25 | 0.51× | 0.69× | ||
| Q2 25 | 0.52× | 0.71× | ||
| Q1 25 | 0.53× | 0.81× | ||
| Q4 24 | 0.52× | 0.73× | ||
| Q3 24 | 0.25× | 0.68× | ||
| Q2 24 | 0.29× | 0.69× | ||
| Q1 24 | — | 0.72× |
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 | $14.1M |
| FCF MarginFCF / Revenue | 4.4% | 14.1% |
| Capex IntensityCapex / Revenue | 4.6% | 9.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $12.9M | $38.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.2M | $23.3M | ||
| Q3 25 | $5.5M | $51.0M | ||
| Q2 25 | $4.7M | $36.0M | ||
| Q1 25 | $13.5M | $-46.9M | ||
| Q4 24 | $-6.1M | $6.2M | ||
| Q3 24 | $-3.2M | $37.2M | ||
| Q2 24 | $-7.6M | $52.4M | ||
| Q1 24 | — | $-34.5M |
| Q4 25 | $4.9M | $14.1M | ||
| Q3 25 | $1.2M | $45.2M | ||
| Q2 25 | $-3.4M | $29.1M | ||
| Q1 25 | $10.1M | $-50.3M | ||
| Q4 24 | $-12.2M | $-98.0K | ||
| Q3 24 | $-8.0M | $33.2M | ||
| Q2 24 | $-13.2M | $47.9M | ||
| Q1 24 | — | $-39.9M |
| Q4 25 | 4.4% | 14.1% | ||
| Q3 25 | 1.1% | 27.9% | ||
| Q2 25 | -3.3% | 16.8% | ||
| Q1 25 | 9.8% | -45.2% | ||
| Q4 24 | -11.5% | -0.1% | ||
| Q3 24 | -10.4% | 22.1% | ||
| Q2 24 | -17.5% | 29.9% | ||
| Q1 24 | — | -36.0% |
| Q4 25 | 4.6% | 9.2% | ||
| Q3 25 | 3.9% | 3.6% | ||
| Q2 25 | 7.8% | 4.0% | ||
| Q1 25 | 3.3% | 3.1% | ||
| Q4 24 | 5.8% | 7.2% | ||
| Q3 24 | 6.3% | 2.7% | ||
| Q2 24 | 7.4% | 2.8% | ||
| Q1 24 | — | 4.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | 6.29× | ||
| Q2 25 | — | 2.25× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 6.32× | ||
| Q2 24 | — | 3.95× | ||
| 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% |
SWIM
| In Ground Swimming Pools | $50.2M | 50% |
| Covers | $37.0M | 37% |
| Liners | $12.7M | 13% |
