vs
Side-by-side financial comparison of Powerfleet, Inc. (AIOT) and Telesat Corp (TSAT). Click either name above to swap in a different company.
Powerfleet, Inc. is the larger business by last-quarter revenue ($113.5M vs $73.8M, roughly 1.5× Telesat Corp). Powerfleet, Inc. runs the higher net margin — -3.0% vs -119.8%, a 116.8% gap on every dollar of revenue. Over the past eight quarters, Powerfleet, Inc.'s revenue compounded faster (81.2% CAGR vs -64.0%).
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.
Telesat, formerly Telesat Canada, is a Canadian satellite communications company founded on May 2, 1969. The company is headquartered in Ottawa.
AIOT vs TSAT — Head-to-Head
Income Statement — Q3 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.5M | $73.8M |
| Net Profit | $-3.4M | $-88.4M |
| Gross Margin | 55.2% | 95.3% |
| Operating Margin | 5.6% | 5.9% |
| Net Margin | -3.0% | -119.8% |
| Revenue YoY | 6.6% | — |
| Net Profit YoY | 76.6% | — |
| EPS (diluted) | $-0.03 | — |
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 | — | ||
| Q3 25 | $111.7M | $73.8M | ||
| Q2 25 | $104.1M | $77.5M | ||
| Q1 25 | $103.6M | $152.2M | ||
| Q4 24 | $106.4M | — | ||
| Q3 24 | $77.0M | — | ||
| Q2 24 | $75.4M | $363.2M | ||
| Q4 23 | $34.5M | — |
| Q4 25 | $-3.4M | — | ||
| Q3 25 | $-4.3M | $-88.4M | ||
| Q2 25 | $-10.2M | $55.1M | ||
| Q1 25 | $-12.4M | $-52.3M | ||
| Q4 24 | $-14.3M | — | ||
| Q3 24 | $-1.9M | — | ||
| Q2 24 | $-22.3M | $547.4M | ||
| Q4 23 | $-3.5M | — |
| Q4 25 | 55.2% | — | ||
| Q3 25 | 56.0% | 95.3% | ||
| Q2 25 | 54.2% | 95.9% | ||
| Q1 25 | 52.8% | — | ||
| Q4 24 | 55.2% | — | ||
| Q3 24 | 53.7% | — | ||
| Q2 24 | 52.6% | — | ||
| Q4 23 | 50.3% | — |
| Q4 25 | 5.6% | — | ||
| Q3 25 | 3.8% | 5.9% | ||
| Q2 25 | -2.0% | 16.8% | ||
| Q1 25 | -6.7% | — | ||
| Q4 24 | -1.2% | — | ||
| Q3 24 | 0.7% | — | ||
| Q2 24 | -24.2% | — | ||
| Q4 23 | -11.5% | — |
| Q4 25 | -3.0% | — | ||
| Q3 25 | -3.8% | -119.8% | ||
| Q2 25 | -9.8% | 71.2% | ||
| Q1 25 | -12.0% | -34.4% | ||
| Q4 24 | -13.5% | — | ||
| Q3 24 | -2.5% | — | ||
| Q2 24 | -29.6% | 150.7% | ||
| Q4 23 | -10.1% | — |
| Q4 25 | $-0.03 | — | ||
| Q3 25 | $-0.03 | — | ||
| Q2 25 | $-0.08 | — | ||
| Q1 25 | $-0.09 | — | ||
| Q4 24 | $-0.11 | — | ||
| Q3 24 | $-0.02 | — | ||
| Q2 24 | $-0.21 | — | ||
| Q4 23 | $-0.18 | — |
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 | $352.3M |
| Total DebtLower is stronger | $237.8M | — |
| Stockholders' EquityBook value | $485.0M | $1.6B |
| Total Assets | $959.5M | $5.1B |
| Debt / EquityLower = less leverage | 0.49× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.2M | — | ||
| Q3 25 | $27.9M | $352.3M | ||
| Q2 25 | $31.2M | $399.6M | ||
| Q1 25 | $44.4M | $552.1M | ||
| Q4 24 | $33.6M | — | ||
| Q3 24 | $26.0M | — | ||
| Q2 24 | $30.2M | $1.7B | ||
| Q4 23 | $19.0M | — |
| 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 | — | ||
| Q4 23 | — | — |
| Q4 25 | $485.0M | — | ||
| Q3 25 | $468.8M | $1.6B | ||
| Q2 25 | $460.7M | $1.7B | ||
| Q1 25 | $446.6M | $2.5B | ||
| Q4 24 | $458.4M | — | ||
| Q3 24 | $451.0M | — | ||
| Q2 24 | $390.4M | $2.4B | ||
| Q4 23 | $57.6M | — |
| Q4 25 | $959.5M | — | ||
| Q3 25 | $936.9M | $5.1B | ||
| Q2 25 | $930.8M | $4.9B | ||
| Q1 25 | $910.1M | $6.9B | ||
| Q4 24 | $908.7M | — | ||
| Q3 24 | $748.3M | — | ||
| Q2 24 | $684.9M | $6.3B | ||
| Q4 23 | — | — |
| 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× | — | ||
| Q4 23 | — | — |
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.
| Q4 25 | $10.2M | — | ||
| Q3 25 | $5.5M | — | ||
| Q2 25 | $4.7M | — | ||
| Q1 25 | $13.5M | — | ||
| Q4 24 | $-6.1M | — | ||
| Q3 24 | $-3.2M | — | ||
| Q2 24 | $-7.6M | — | ||
| Q4 23 | — | — |
| 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 | — | ||
| Q4 23 | — | — |
| 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% | — | ||
| Q4 23 | — | — |
| 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% | — | ||
| Q4 23 | — | — |
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% |
TSAT
Segment breakdown not available.
