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Side-by-side financial comparison of Powerfleet, Inc. (AIOT) and Wheels Up Experience Inc. (UP). Click either name above to swap in a different company.
Wheels Up Experience Inc. is the larger business by last-quarter revenue ($183.8M vs $113.5M, roughly 1.6× Powerfleet, Inc.). Powerfleet, Inc. runs the higher net margin — -3.0% vs -15.7%, a 12.7% gap on every dollar of revenue. On growth, Powerfleet, Inc. posted the faster year-over-year revenue change (6.6% vs -10.2%). Powerfleet, Inc. produced more free cash flow last quarter ($4.9M vs $-58.3M). Over the past eight quarters, Powerfleet, Inc.'s revenue compounded faster (81.2% CAGR vs -3.4%).
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.
Wheels Up is a provider of "on demand" private aviation in the United States and one of the largest private aviation companies in the world. It was founded in 2013 by Kenny Dichter, using a membership/on-demand business model. Wheels Up members can book private aircraft from the company fleet and third-party operators using a mobile application.
AIOT vs UP — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $113.5M | $183.8M |
| Net Profit | $-3.4M | $-28.9M |
| Gross Margin | 55.2% | 14.3% |
| Operating Margin | 5.6% | -0.9% |
| Net Margin | -3.0% | -15.7% |
| Revenue YoY | 6.6% | -10.2% |
| Net Profit YoY | 76.6% | 67.0% |
| EPS (diluted) | $-0.03 | $-0.04 |
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 | $183.8M | ||
| Q3 25 | $111.7M | $185.5M | ||
| Q2 25 | $104.1M | $189.6M | ||
| Q1 25 | $103.6M | $177.5M | ||
| Q4 24 | $106.4M | $204.8M | ||
| Q3 24 | $77.0M | $193.9M | ||
| Q2 24 | $75.4M | $196.3M | ||
| Q1 24 | — | $197.1M |
| Q4 25 | $-3.4M | $-28.9M | ||
| Q3 25 | $-4.3M | $-83.7M | ||
| Q2 25 | $-10.2M | $-82.3M | ||
| Q1 25 | $-12.4M | $-99.3M | ||
| Q4 24 | $-14.3M | $-87.5M | ||
| Q3 24 | $-1.9M | $-57.7M | ||
| Q2 24 | $-22.3M | $-97.0M | ||
| Q1 24 | — | $-97.4M |
| Q4 25 | 55.2% | 14.3% | ||
| Q3 25 | 56.0% | 6.8% | ||
| Q2 25 | 54.2% | 8.3% | ||
| Q1 25 | 52.8% | 10.8% | ||
| Q4 24 | 55.2% | 13.9% | ||
| Q3 24 | 53.7% | 13.9% | ||
| Q2 24 | 52.6% | 2.3% | ||
| Q1 24 | — | -0.6% |
| Q4 25 | 5.6% | -0.9% | ||
| Q3 25 | 3.8% | -33.1% | ||
| Q2 25 | -2.0% | -31.4% | ||
| Q1 25 | -6.7% | -45.5% | ||
| Q4 24 | -1.2% | -26.0% | ||
| Q3 24 | 0.7% | -21.6% | ||
| Q2 24 | -24.2% | -40.3% | ||
| Q1 24 | — | -42.9% |
| Q4 25 | -3.0% | -15.7% | ||
| Q3 25 | -3.8% | -45.1% | ||
| Q2 25 | -9.8% | -43.4% | ||
| Q1 25 | -12.0% | -55.9% | ||
| Q4 24 | -13.5% | -42.7% | ||
| Q3 24 | -2.5% | -29.8% | ||
| Q2 24 | -29.6% | -49.4% | ||
| Q1 24 | — | -49.4% |
| Q4 25 | $-0.03 | $-0.04 | ||
| Q3 25 | $-0.03 | $-0.12 | ||
| Q2 25 | $-0.08 | $-0.12 | ||
| Q1 25 | $-0.09 | $-0.14 | ||
| Q4 24 | $-0.11 | $-0.13 | ||
| Q3 24 | $-0.02 | $-0.08 | ||
| Q2 24 | $-0.21 | $-0.14 | ||
| Q1 24 | — | $-0.14 |
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 | $133.9M |
| Total DebtLower is stronger | $237.8M | $671.3M |
| Stockholders' EquityBook value | $485.0M | $-392.1M |
| Total Assets | $959.5M | $968.8M |
| Debt / EquityLower = less leverage | 0.49× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $31.2M | $133.9M | ||
| Q3 25 | $27.9M | $125.3M | ||
| Q2 25 | $31.2M | $107.0M | ||
| Q1 25 | $44.4M | $171.8M | ||
| Q4 24 | $33.6M | $216.4M | ||
| Q3 24 | $26.0M | $115.9M | ||
| Q2 24 | $30.2M | $141.5M | ||
| Q1 24 | — | $180.9M |
| Q4 25 | $237.8M | $671.3M | ||
| Q3 25 | $238.2M | $766.5M | ||
| Q2 25 | $239.0M | $770.5M | ||
| Q1 25 | $237.5M | $765.8M | ||
| Q4 24 | $238.5M | $761.3M | ||
| Q3 24 | $113.6M | $596.9M | ||
| Q2 24 | $113.7M | $597.4M | ||
| Q1 24 | — | $603.2M |
| Q4 25 | $485.0M | $-392.1M | ||
| Q3 25 | $468.8M | $-374.5M | ||
| Q2 25 | $460.7M | $-347.8M | ||
| Q1 25 | $446.6M | $-288.1M | ||
| Q4 24 | $458.4M | $-202.1M | ||
| Q3 24 | $451.0M | $-117.7M | ||
| Q2 24 | $390.4M | $-72.2M | ||
| Q1 24 | — | $936.0K |
| Q4 25 | $959.5M | $968.8M | ||
| Q3 25 | $936.9M | $973.0M | ||
| Q2 25 | $930.8M | $1.0B | ||
| Q1 25 | $910.1M | $1.1B | ||
| Q4 24 | $908.7M | $1.2B | ||
| Q3 24 | $748.3M | $1.0B | ||
| Q2 24 | $684.9M | $1.1B | ||
| Q1 24 | — | $1.2B |
| 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× | — | ||
| Q1 24 | — | 644.43× |
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 | $-18.4M |
| Free Cash FlowOCF − Capex | $4.9M | $-58.3M |
| FCF MarginFCF / Revenue | 4.4% | -31.7% |
| Capex IntensityCapex / Revenue | 4.6% | 21.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $12.9M | $-259.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $10.2M | $-18.4M | ||
| Q3 25 | $5.5M | $-37.1M | ||
| Q2 25 | $4.7M | $-62.9M | ||
| Q1 25 | $13.5M | $-47.9M | ||
| Q4 24 | $-6.1M | $37.9M | ||
| Q3 24 | $-3.2M | $-16.9M | ||
| Q2 24 | $-7.6M | $-25.2M | ||
| Q1 24 | — | $-73.8M |
| Q4 25 | $4.9M | $-58.3M | ||
| Q3 25 | $1.2M | $-60.4M | ||
| Q2 25 | $-3.4M | $-78.6M | ||
| Q1 25 | $10.1M | $-62.6M | ||
| Q4 24 | $-12.2M | $-70.2M | ||
| Q3 24 | $-8.0M | $-21.9M | ||
| Q2 24 | $-13.2M | $-30.8M | ||
| Q1 24 | — | $-77.8M |
| Q4 25 | 4.4% | -31.7% | ||
| Q3 25 | 1.1% | -32.6% | ||
| Q2 25 | -3.3% | -41.5% | ||
| Q1 25 | 9.8% | -35.3% | ||
| Q4 24 | -11.5% | -34.3% | ||
| Q3 24 | -10.4% | -11.3% | ||
| Q2 24 | -17.5% | -15.7% | ||
| Q1 24 | — | -39.5% |
| Q4 25 | 4.6% | 21.7% | ||
| Q3 25 | 3.9% | 12.5% | ||
| Q2 25 | 7.8% | 8.3% | ||
| Q1 25 | 3.3% | 8.3% | ||
| Q4 24 | 5.8% | 52.8% | ||
| Q3 24 | 6.3% | 2.6% | ||
| Q2 24 | 7.4% | 2.9% | ||
| Q1 24 | — | 2.0% |
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% |
UP
Segment breakdown not available.
