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Side-by-side financial comparison of AeroVironment Inc (AVAV) and Insulet Corporation (PODD). Click either name above to swap in a different company.
Insulet Corporation is the larger business by last-quarter revenue ($783.7M vs $472.5M, roughly 1.7× AeroVironment Inc). Insulet Corporation runs the higher net margin — 13.0% vs -3.6%, a 16.6% gap on every dollar of revenue. On growth, AeroVironment Inc posted the faster year-over-year revenue change (181.9% vs 31.2%). Insulet Corporation produced more free cash flow last quarter ($48.2M vs $-55.9M). Over the past eight quarters, AeroVironment Inc's revenue compounded faster (59.1% CAGR vs 33.2%).
AeroVironment, Inc., also known as AV, is an American defense technology company headquartered in Arlington, Virginia that designs and manufactures autonomous systems, counter-UAS systems, and space systems. The company was founded in 1971 by Paul B. MacCready Jr., a designer of human-powered aircraft. The company provides the US Department of Defense and foreign militaries with small and medium-sized drones—notably the Raven, Switchblade, Wasp, and Puma. Through its acquisition of BlueHalo i...
An insulin pump is a medical device used for the administration of insulin in the treatment of diabetes mellitus, also known as continuous subcutaneous insulin therapy . The device configuration may vary depending on design. A traditional pump includes:the pump a disposable reservoir for insulin a disposable infusion set, including a cannula for subcutaneous insertion and a tubing system to connect the insulin reservoir to the cannula.
AVAV vs PODD — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $472.5M | $783.7M |
| Net Profit | $-17.1M | $101.6M |
| Gross Margin | 22.0% | 72.6% |
| Operating Margin | -6.4% | 18.7% |
| Net Margin | -3.6% | 13.0% |
| Revenue YoY | 181.9% | 31.2% |
| Net Profit YoY | -875.1% | 0.9% |
| EPS (diluted) | $-0.34 | $1.42 |
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 | $472.5M | $783.7M | ||
| Q3 25 | $454.7M | $706.3M | ||
| Q2 25 | $275.1M | $649.1M | ||
| Q1 25 | $167.6M | $569.0M | ||
| Q4 24 | $188.5M | $597.5M | ||
| Q3 24 | $189.5M | $543.9M | ||
| Q2 24 | $197.0M | $488.5M | ||
| Q1 24 | $186.6M | $441.7M |
| Q4 25 | $-17.1M | $101.6M | ||
| Q3 25 | $-67.4M | $87.6M | ||
| Q2 25 | $16.7M | $22.5M | ||
| Q1 25 | $-1.8M | $35.4M | ||
| Q4 24 | $7.5M | $100.7M | ||
| Q3 24 | $21.2M | $77.5M | ||
| Q2 24 | $6.0M | $188.6M | ||
| Q1 24 | $13.9M | $51.5M |
| Q4 25 | 22.0% | 72.6% | ||
| Q3 25 | 20.9% | 72.2% | ||
| Q2 25 | 36.5% | 69.7% | ||
| Q1 25 | 37.7% | 71.9% | ||
| Q4 24 | 39.1% | 72.1% | ||
| Q3 24 | 43.0% | 69.3% | ||
| Q2 24 | 38.4% | 67.7% | ||
| Q1 24 | 36.1% | 69.5% |
| Q4 25 | -6.4% | 18.7% | ||
| Q3 25 | -15.2% | 16.7% | ||
| Q2 25 | 5.0% | 18.7% | ||
| Q1 25 | -1.8% | 15.6% | ||
| Q4 24 | 3.7% | 18.3% | ||
| Q3 24 | 12.2% | 16.2% | ||
| Q2 24 | 3.0% | 11.2% | ||
| Q1 24 | 7.7% | 12.9% |
| Q4 25 | -3.6% | 13.0% | ||
| Q3 25 | -14.8% | 12.4% | ||
| Q2 25 | 6.1% | 3.5% | ||
| Q1 25 | -1.0% | 6.2% | ||
| Q4 24 | 4.0% | 16.9% | ||
| Q3 24 | 11.2% | 14.2% | ||
| Q2 24 | 3.1% | 38.6% | ||
| Q1 24 | 7.4% | 11.7% |
| Q4 25 | $-0.34 | $1.42 | ||
| Q3 25 | $-1.44 | $1.24 | ||
| Q2 25 | $0.59 | $0.32 | ||
| Q1 25 | $-0.06 | $0.50 | ||
| Q4 24 | $0.27 | $1.38 | ||
| Q3 24 | $0.75 | $1.08 | ||
| Q2 24 | $0.18 | $2.59 | ||
| Q1 24 | $0.50 | $0.73 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $588.5M | — |
| Total DebtLower is stronger | $747.5M | $930.8M |
| Stockholders' EquityBook value | $4.4B | $1.5B |
| Total Assets | $5.6B | $3.2B |
| Debt / EquityLower = less leverage | 0.17× | 0.61× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $588.5M | — | ||
| Q3 25 | $685.8M | — | ||
| Q2 25 | $40.9M | — | ||
| Q1 25 | $47.0M | — | ||
| Q4 24 | $69.0M | — | ||
| Q3 24 | $81.2M | — | ||
| Q2 24 | $73.3M | — | ||
| Q1 24 | $107.7M | — |
| Q4 25 | $747.5M | $930.8M | ||
| Q3 25 | $747.5M | $934.9M | ||
| Q2 25 | $30.0M | $939.0M | ||
| Q1 25 | $25.0M | $1.6B | ||
| Q4 24 | $15.0M | $1.3B | ||
| Q3 24 | $17.5M | $1.4B | ||
| Q2 24 | $28.0M | $1.4B | ||
| Q1 24 | $40.0M | $1.4B |
| Q4 25 | $4.4B | $1.5B | ||
| Q3 25 | $4.4B | $1.4B | ||
| Q2 25 | $886.5M | $1.5B | ||
| Q1 25 | $861.1M | $1.3B | ||
| Q4 24 | $858.4M | $1.2B | ||
| Q3 24 | $845.5M | $1.1B | ||
| Q2 24 | $822.7M | $998.4M | ||
| Q1 24 | $813.0M | $790.7M |
| Q4 25 | $5.6B | $3.2B | ||
| Q3 25 | $5.6B | $3.0B | ||
| Q2 25 | $1.1B | $3.5B | ||
| Q1 25 | $1.0B | $3.5B | ||
| Q4 24 | $1.0B | $3.1B | ||
| Q3 24 | $999.2M | $3.0B | ||
| Q2 24 | $1.0B | $2.9B | ||
| Q1 24 | $980.3M | $2.6B |
| Q4 25 | 0.17× | 0.61× | ||
| Q3 25 | 0.17× | 0.68× | ||
| Q2 25 | 0.03× | 0.64× | ||
| Q1 25 | 0.03× | 1.21× | ||
| Q4 24 | 0.02× | 1.07× | ||
| Q3 24 | 0.02× | 1.21× | ||
| Q2 24 | 0.03× | 1.36× | ||
| Q1 24 | 0.05× | 1.72× |
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 | $-45.1M | $183.3M |
| Free Cash FlowOCF − Capex | $-55.9M | $48.2M |
| FCF MarginFCF / Revenue | -11.8% | 6.2% |
| Capex IntensityCapex / Revenue | 2.3% | 17.2% |
| Cash ConversionOCF / Net Profit | — | 1.80× |
| TTM Free Cash FlowTrailing 4 quarters | $-240.7M | $377.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-45.1M | $183.3M | ||
| Q3 25 | $-123.7M | $125.7M | ||
| Q2 25 | $-264.0K | $196.5M | ||
| Q1 25 | $-25.8M | $63.8M | ||
| Q4 24 | $-3.6M | $147.7M | ||
| Q3 24 | $28.4M | $98.5M | ||
| Q2 24 | $-11.7M | $96.5M | ||
| Q1 24 | $52.6M | $87.6M |
| Q4 25 | $-55.9M | $48.2M | ||
| Q3 25 | $-146.5M | $100.1M | ||
| Q2 25 | $-8.8M | $177.9M | ||
| Q1 25 | $-29.6M | $51.5M | ||
| Q4 24 | $-8.7M | $94.1M | ||
| Q3 24 | $22.9M | $71.8M | ||
| Q2 24 | $-20.8M | $74.0M | ||
| Q1 24 | $48.8M | $65.5M |
| Q4 25 | -11.8% | 6.2% | ||
| Q3 25 | -32.2% | 14.2% | ||
| Q2 25 | -3.2% | 27.4% | ||
| Q1 25 | -17.7% | 9.1% | ||
| Q4 24 | -4.6% | 15.7% | ||
| Q3 24 | 12.1% | 13.2% | ||
| Q2 24 | -10.5% | 15.1% | ||
| Q1 24 | 26.1% | 14.8% |
| Q4 25 | 2.3% | 17.2% | ||
| Q3 25 | 5.0% | 3.6% | ||
| Q2 25 | 3.1% | 2.9% | ||
| Q1 25 | 2.3% | 2.2% | ||
| Q4 24 | 2.7% | 9.0% | ||
| Q3 24 | 2.9% | 4.9% | ||
| Q2 24 | 4.6% | 4.6% | ||
| Q1 24 | 2.0% | 5.0% |
| Q4 25 | — | 1.80× | ||
| Q3 25 | — | 1.43× | ||
| Q2 25 | -0.02× | 8.73× | ||
| Q1 25 | — | 1.80× | ||
| Q4 24 | -0.48× | 1.47× | ||
| Q3 24 | 1.34× | 1.27× | ||
| Q2 24 | -1.93× | 0.51× | ||
| Q1 24 | 3.79× | 1.70× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVAV
| Services | $130.2M | 28% |
| Cost Plus | $95.8M | 20% |
| Uncrewed Aircraft Systems | $89.8M | 19% |
| Space And Directed Energy | $53.2M | 11% |
| Non U.s.Government | $42.2M | 9% |
| TM | $31.9M | 7% |
| Other | $30.7M | 7% |
PODD
| U.S.Omnipod | $567.8M | 72% |
| International Omnipod | $214.0M | 27% |
| Drug Delivery | $1.9M | 0% |
