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Side-by-side financial comparison of AlTi Global, Inc. (ALTI) and AVIAT NETWORKS, INC. (AVNW). Click either name above to swap in a different company.
AVIAT NETWORKS, INC. is the larger business by last-quarter revenue ($111.5M vs $86.6M, roughly 1.3× AlTi Global, Inc.). AVIAT NETWORKS, INC. runs the higher net margin — 5.1% vs -15.1%, a 20.3% gap on every dollar of revenue. On growth, AlTi Global, Inc. posted the faster year-over-year revenue change (87.0% vs -5.7%). AVIAT NETWORKS, INC. produced more free cash flow last quarter ($22.5M vs $-52.2M). Over the past eight quarters, AlTi Global, Inc.'s revenue compounded faster (30.6% CAGR vs 0.3%).
Cristal Global is the world's second-largest producer of titanium dioxide and a leading producer of titanium chemicals. It was formed when The National Titanium Dioxide Company Ltd. combined with Millennium Chemicals. The headquarters are in Jeddah, Saudi Arabia. It is a significant shareholder in Bemax, the world’s 5th largest TiO2 feedstock producer.
Aviat Networks, Inc. is a global provider of microwave transport and backhaul solutions, providing public and private operators with communications infrastructure to serve telecommunications operators and enterprise customers.
ALTI vs AVNW — Head-to-Head
Income Statement — Q4 FY2025 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $86.6M | $111.5M |
| Net Profit | $-13.1M | $5.7M |
| Gross Margin | — | 32.4% |
| Operating Margin | -2.1% | 6.5% |
| Net Margin | -15.1% | 5.1% |
| Revenue YoY | 87.0% | -5.7% |
| Net Profit YoY | 75.6% | 27.2% |
| EPS (diluted) | — | $0.44 |
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 | $86.6M | $111.5M | ||
| Q3 25 | $57.2M | $107.3M | ||
| Q2 25 | $53.1M | $115.3M | ||
| Q1 25 | $58.0M | $112.6M | ||
| Q4 24 | $46.3M | $118.2M | ||
| Q3 24 | $51.8M | $88.4M | ||
| Q2 24 | $49.5M | $116.7M | ||
| Q1 24 | $50.8M | $110.8M |
| Q4 25 | $-13.1M | $5.7M | ||
| Q3 25 | $-84.1M | $162.0K | ||
| Q2 25 | $-24.4M | $5.2M | ||
| Q1 25 | $1.9M | $3.5M | ||
| Q4 24 | $-53.8M | $4.5M | ||
| Q3 24 | $-72.5M | $-11.9M | ||
| Q2 24 | $-6.4M | $1.5M | ||
| Q1 24 | $29.7M | $3.9M |
| Q4 25 | — | 32.4% | ||
| Q3 25 | — | 33.2% | ||
| Q2 25 | — | 34.2% | ||
| Q1 25 | — | 34.9% | ||
| Q4 24 | — | 34.6% | ||
| Q3 24 | — | 22.4% | ||
| Q2 24 | — | 35.3% | ||
| Q1 24 | — | 32.5% |
| Q4 25 | -2.1% | 6.5% | ||
| Q3 25 | -49.8% | 4.8% | ||
| Q2 25 | -56.7% | 7.7% | ||
| Q1 25 | -23.3% | 8.3% | ||
| Q4 24 | -42.7% | 6.7% | ||
| Q3 24 | -18.4% | -17.6% | ||
| Q2 24 | -30.2% | 4.7% | ||
| Q1 24 | -28.9% | 5.1% |
| Q4 25 | -15.1% | 5.1% | ||
| Q3 25 | -147.0% | 0.2% | ||
| Q2 25 | -45.9% | 4.5% | ||
| Q1 25 | 3.3% | 3.1% | ||
| Q4 24 | -116.1% | 3.8% | ||
| Q3 24 | -140.0% | -13.4% | ||
| Q2 24 | -12.9% | 1.3% | ||
| Q1 24 | 58.4% | 3.5% |
| Q4 25 | — | $0.44 | ||
| Q3 25 | — | $0.01 | ||
| Q2 25 | $-0.33 | $0.42 | ||
| Q1 25 | $-0.04 | $0.27 | ||
| Q4 24 | $-0.71 | $0.35 | ||
| Q3 24 | $-0.88 | $-0.94 | ||
| Q2 24 | $-0.18 | $0.11 | ||
| Q1 24 | $0.18 | $0.30 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $41.2M | $86.5M |
| Total DebtLower is stronger | $883.0K | $105.4M |
| Stockholders' EquityBook value | $600.1M | $271.6M |
| Total Assets | $1.2B | $659.4M |
| Debt / EquityLower = less leverage | 0.00× | 0.39× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $41.2M | $86.5M | ||
| Q3 25 | $35.8M | $64.8M | ||
| Q2 25 | $42.4M | $59.7M | ||
| Q1 25 | $52.8M | $49.4M | ||
| Q4 24 | $64.4M | $52.6M | ||
| Q3 24 | $220.6M | $51.0M | ||
| Q2 24 | $60.0M | $64.6M | ||
| Q1 24 | $134.2M | $59.2M |
| Q4 25 | $883.0K | $105.4M | ||
| Q3 25 | $586.0K | $106.5M | ||
| Q2 25 | $673.0K | $87.6M | ||
| Q1 25 | — | $73.9M | ||
| Q4 24 | $0 | $74.9M | ||
| Q3 24 | $128.4M | $83.4M | ||
| Q2 24 | $164.0M | $48.4M | ||
| Q1 24 | $183.7M | $48.9M |
| Q4 25 | $600.1M | $271.6M | ||
| Q3 25 | $607.2M | $263.6M | ||
| Q2 25 | $685.4M | $263.2M | ||
| Q1 25 | $665.2M | $256.1M | ||
| Q4 24 | $658.4M | $249.6M | ||
| Q3 24 | $707.0M | $247.1M | ||
| Q2 24 | $540.2M | $255.9M | ||
| Q1 24 | $510.9M | $256.0M |
| Q4 25 | $1.2B | $659.4M | ||
| Q3 25 | $1.2B | $643.3M | ||
| Q2 25 | $1.2B | $633.3M | ||
| Q1 25 | $1.2B | $628.3M | ||
| Q4 24 | $1.3B | $594.1M | ||
| Q3 24 | $1.4B | $590.9M | ||
| Q2 24 | $1.3B | $535.2M | ||
| Q1 24 | $1.3B | $490.3M |
| Q4 25 | 0.00× | 0.39× | ||
| Q3 25 | 0.00× | 0.40× | ||
| Q2 25 | 0.00× | 0.33× | ||
| Q1 25 | — | 0.29× | ||
| Q4 24 | 0.00× | 0.30× | ||
| Q3 24 | 0.18× | 0.34× | ||
| Q2 24 | 0.30× | 0.19× | ||
| Q1 24 | 0.36× | 0.19× |
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 | $-51.4M | $23.9M |
| Free Cash FlowOCF − Capex | $-52.2M | $22.5M |
| FCF MarginFCF / Revenue | -60.3% | 20.2% |
| Capex IntensityCapex / Revenue | 0.9% | 1.3% |
| Cash ConversionOCF / Net Profit | — | 4.18× |
| TTM Free Cash FlowTrailing 4 quarters | — | $16.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-51.4M | $23.9M | ||
| Q3 25 | $-53.5M | $-11.7M | ||
| Q2 25 | $-19.9M | $10.5M | ||
| Q1 25 | $-30.2M | $1.6M | ||
| Q4 24 | $-50.7M | $20.8M | ||
| Q3 24 | $-4.9M | $-27.2M | ||
| Q2 24 | $-30.2M | $8.3M | ||
| Q1 24 | $-15.5M | $15.3M |
| Q4 25 | $-52.2M | $22.5M | ||
| Q3 25 | — | $-13.5M | ||
| Q2 25 | $-20.0M | $8.2M | ||
| Q1 25 | $-31.0M | $-1.2M | ||
| Q4 24 | $-58.2M | $18.3M | ||
| Q3 24 | $-9.4M | $-32.6M | ||
| Q2 24 | $-31.2M | $7.5M | ||
| Q1 24 | $-15.7M | $14.8M |
| Q4 25 | -60.3% | 20.2% | ||
| Q3 25 | — | -12.6% | ||
| Q2 25 | -37.6% | 7.1% | ||
| Q1 25 | -53.4% | -1.0% | ||
| Q4 24 | -125.7% | 15.5% | ||
| Q3 24 | -18.2% | -36.8% | ||
| Q2 24 | -63.2% | 6.4% | ||
| Q1 24 | -30.9% | 13.4% |
| Q4 25 | 0.9% | 1.3% | ||
| Q3 25 | 0.0% | 1.6% | ||
| Q2 25 | 0.0% | 2.0% | ||
| Q1 25 | 1.3% | 2.5% | ||
| Q4 24 | 16.3% | 2.1% | ||
| Q3 24 | 8.7% | 6.1% | ||
| Q2 24 | 2.2% | 0.7% | ||
| Q1 24 | 0.4% | 0.4% |
| Q4 25 | — | 4.18× | ||
| Q3 25 | — | -72.48× | ||
| Q2 25 | — | 2.02× | ||
| Q1 25 | -15.80× | 0.46× | ||
| Q4 24 | — | 4.62× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 5.37× | ||
| Q1 24 | -0.52× | 3.96× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ALTI
| Management Advisory Fees | $51.1M | 59% |
| Other | $32.7M | 38% |
| Distributions From Investments | $2.9M | 3% |
AVNW
| Products | $81.2M | 73% |
| Services | $30.3M | 27% |
