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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and BlackSky Technology Inc. (BKSY). Click either name above to swap in a different company.
AVIAT NETWORKS, INC. is the larger business by last-quarter revenue ($111.5M vs $35.2M, roughly 3.2× BlackSky Technology Inc.). AVIAT NETWORKS, INC. runs the higher net margin — 5.1% vs -2.5%, a 7.6% gap on every dollar of revenue. On growth, BlackSky Technology Inc. posted the faster year-over-year revenue change (15.9% vs -5.7%). Over the past eight quarters, BlackSky Technology Inc.'s revenue compounded faster (20.5% CAGR vs 0.3%).
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.
BlackSky Technology Inc. is a leading geospatial intelligence provider operating a constellation of high-revisit small Earth observation satellites. It delivers real-time satellite imagery, advanced data analytics, and dynamic monitoring solutions to government, defense, critical infrastructure, and commercial clients globally to support data-driven operational decision-making.
AVNW vs BKSY — Head-to-Head
Income Statement — Q2 2026 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $35.2M |
| Net Profit | $5.7M | $-868.0K |
| Gross Margin | 32.4% | — |
| Operating Margin | 6.5% | -11.8% |
| Net Margin | 5.1% | -2.5% |
| Revenue YoY | -5.7% | 15.9% |
| Net Profit YoY | 27.2% | 95.5% |
| EPS (diluted) | $0.44 | $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 | $111.5M | $35.2M | ||
| Q3 25 | $107.3M | $19.6M | ||
| Q2 25 | $115.3M | $22.2M | ||
| Q1 25 | $112.6M | $29.5M | ||
| Q4 24 | $118.2M | $30.4M | ||
| Q3 24 | $88.4M | $22.5M | ||
| Q2 24 | $116.7M | $24.9M | ||
| Q1 24 | $110.8M | $24.2M |
| Q4 25 | $5.7M | $-868.0K | ||
| Q3 25 | $162.0K | $-15.3M | ||
| Q2 25 | $5.2M | $-41.2M | ||
| Q1 25 | $3.5M | $-12.8M | ||
| Q4 24 | $4.5M | $-19.4M | ||
| Q3 24 | $-11.9M | $-12.6M | ||
| Q2 24 | $1.5M | $-9.4M | ||
| Q1 24 | $3.9M | $-15.8M |
| 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 | 6.5% | -11.8% | ||
| Q3 25 | 4.8% | -85.8% | ||
| Q2 25 | 7.7% | -62.8% | ||
| Q1 25 | 8.3% | -40.5% | ||
| Q4 24 | 6.7% | -20.0% | ||
| Q3 24 | -17.6% | -58.7% | ||
| Q2 24 | 4.7% | -47.0% | ||
| Q1 24 | 5.1% | -54.7% |
| Q4 25 | 5.1% | -2.5% | ||
| Q3 25 | 0.2% | -78.2% | ||
| Q2 25 | 4.5% | -185.8% | ||
| Q1 25 | 3.1% | -43.4% | ||
| Q4 24 | 3.8% | -63.9% | ||
| Q3 24 | -13.4% | -55.8% | ||
| Q2 24 | 1.3% | -37.7% | ||
| Q1 24 | 3.5% | -65.2% |
| Q4 25 | $0.44 | $0.04 | ||
| Q3 25 | $0.01 | $-0.44 | ||
| Q2 25 | $0.42 | $-1.27 | ||
| Q1 25 | $0.27 | $-0.42 | ||
| Q4 24 | $0.35 | $-0.61 | ||
| Q3 24 | $-0.94 | $-0.66 | ||
| Q2 24 | $0.11 | $-0.52 | ||
| Q1 24 | $0.30 | $-0.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $86.5M | $124.5M |
| Total DebtLower is stronger | $105.4M | $201.1M |
| Stockholders' EquityBook value | $271.6M | $94.9M |
| Total Assets | $659.4M | $386.2M |
| Debt / EquityLower = less leverage | 0.39× | 2.12× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | $124.5M | ||
| Q3 25 | $64.8M | $146.5M | ||
| Q2 25 | $59.7M | $93.8M | ||
| Q1 25 | $49.4M | $75.8M | ||
| Q4 24 | $52.6M | $52.5M | ||
| Q3 24 | $51.0M | $63.2M | ||
| Q2 24 | $64.6M | $41.2M | ||
| Q1 24 | $59.2M | $35.4M |
| Q4 25 | $105.4M | $201.1M | ||
| Q3 25 | $106.5M | $195.1M | ||
| Q2 25 | $87.6M | $122.5M | ||
| Q1 25 | $73.9M | $115.3M | ||
| Q4 24 | $74.9M | $107.7M | ||
| Q3 24 | $83.4M | $98.8M | ||
| Q2 24 | $48.4M | $108.6M | ||
| Q1 24 | $48.9M | $85.0M |
| Q4 25 | $271.6M | $94.9M | ||
| Q3 25 | $263.6M | $91.1M | ||
| Q2 25 | $263.2M | $86.6M | ||
| Q1 25 | $256.1M | $88.8M | ||
| Q4 24 | $249.6M | $94.0M | ||
| Q3 24 | $247.1M | $110.3M | ||
| Q2 24 | $255.9M | $76.5M | ||
| Q1 24 | $256.0M | $81.7M |
| Q4 25 | $659.4M | $386.2M | ||
| Q3 25 | $643.3M | $380.9M | ||
| Q2 25 | $633.3M | $310.8M | ||
| Q1 25 | $628.3M | $284.9M | ||
| Q4 24 | $594.1M | $254.1M | ||
| Q3 24 | $590.9M | $245.5M | ||
| Q2 24 | $535.2M | $224.3M | ||
| Q1 24 | $490.3M | $210.1M |
| Q4 25 | 0.39× | 2.12× | ||
| Q3 25 | 0.40× | 2.14× | ||
| Q2 25 | 0.33× | 1.41× | ||
| Q1 25 | 0.29× | 1.30× | ||
| Q4 24 | 0.30× | 1.15× | ||
| Q3 24 | 0.34× | 0.90× | ||
| Q2 24 | 0.19× | 1.42× | ||
| Q1 24 | 0.19× | 1.04× |
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 | $23.9M | $-9.3M |
| Free Cash FlowOCF − Capex | $22.5M | — |
| FCF MarginFCF / Revenue | 20.2% | — |
| Capex IntensityCapex / Revenue | 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 | $23.9M | $-9.3M | ||
| Q3 25 | $-11.7M | $-39.0M | ||
| Q2 25 | $10.5M | $-7.3M | ||
| Q1 25 | $1.6M | $27.2M | ||
| Q4 24 | $20.8M | $-1.8M | ||
| Q3 24 | $-27.2M | $1.0M | ||
| Q2 24 | $8.3M | $-1.8M | ||
| Q1 24 | $15.3M | $-3.8M |
| Q4 25 | $22.5M | — | ||
| Q3 25 | $-13.5M | — | ||
| Q2 25 | $8.2M | — | ||
| Q1 25 | $-1.2M | — | ||
| Q4 24 | $18.3M | — | ||
| Q3 24 | $-32.6M | — | ||
| Q2 24 | $7.5M | — | ||
| Q1 24 | $14.8M | — |
| Q4 25 | 20.2% | — | ||
| Q3 25 | -12.6% | — | ||
| Q2 25 | 7.1% | — | ||
| Q1 25 | -1.0% | — | ||
| Q4 24 | 15.5% | — | ||
| Q3 24 | -36.8% | — | ||
| Q2 24 | 6.4% | — | ||
| Q1 24 | 13.4% | — |
| Q4 25 | 1.3% | — | ||
| Q3 25 | 1.6% | — | ||
| Q2 25 | 2.0% | — | ||
| Q1 25 | 2.5% | — | ||
| Q4 24 | 2.1% | — | ||
| Q3 24 | 6.1% | — | ||
| Q2 24 | 0.7% | — | ||
| Q1 24 | 0.4% | — |
| Q4 25 | 4.18× | — | ||
| Q3 25 | -72.48× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 4.62× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.37× | — | ||
| Q1 24 | 3.96× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVNW
| Products | $81.2M | 73% |
| Services | $30.3M | 27% |
BKSY
Segment breakdown not available.
