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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and Core Scientific, Inc. (CORZ). Click either name above to swap in a different company.
AVIAT NETWORKS, INC. is the larger business by last-quarter revenue ($111.5M vs $79.8M, roughly 1.4× Core Scientific, Inc.). Core Scientific, Inc. runs the higher net margin — 268.5% vs 5.1%, a 263.4% gap on every dollar of revenue. On growth, AVIAT NETWORKS, INC. posted the faster year-over-year revenue change (-5.7% vs -16.0%). AVIAT NETWORKS, INC. produced more free cash flow last quarter ($22.5M vs $-450.8M). Over the past eight quarters, AVIAT NETWORKS, INC.'s revenue compounded faster (0.3% CAGR vs -33.3%).
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.
Core Scientific is a leading digital asset and high-performance computing infrastructure provider. It operates large energy-efficient data centers across North America, offering cryptocurrency mining services, colocation hosting for blockchain and AI clients, and custom high-performance computing solutions for enterprise tech segments.
AVNW vs CORZ — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $79.8M |
| Net Profit | $5.7M | $214.2M |
| Gross Margin | 32.4% | 26.0% |
| Operating Margin | 6.5% | -149.5% |
| Net Margin | 5.1% | 268.5% |
| Revenue YoY | -5.7% | -16.0% |
| Net Profit YoY | 27.2% | 180.6% |
| EPS (diluted) | $0.44 | $-1.63 |
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 | $79.8M | ||
| Q3 25 | $107.3M | $81.1M | ||
| Q2 25 | $115.3M | $78.6M | ||
| Q1 25 | $112.6M | $79.5M | ||
| Q4 24 | $118.2M | $94.9M | ||
| Q3 24 | $88.4M | $95.4M | ||
| Q2 24 | $116.7M | $141.1M | ||
| Q1 24 | $110.8M | $179.3M |
| Q4 25 | $5.7M | $214.2M | ||
| Q3 25 | $162.0K | $-144.0M | ||
| Q2 25 | $5.2M | $-936.8M | ||
| Q1 25 | $3.5M | $576.3M | ||
| Q4 24 | $4.5M | $-265.5M | ||
| Q3 24 | $-11.9M | $-455.3M | ||
| Q2 24 | $1.5M | $-902.2M | ||
| Q1 24 | $3.9M | $210.7M |
| Q4 25 | 32.4% | 26.0% | ||
| Q3 25 | 33.2% | 4.8% | ||
| Q2 25 | 34.2% | 6.4% | ||
| Q1 25 | 34.9% | 10.3% | ||
| Q4 24 | 34.6% | 5.0% | ||
| Q3 24 | 22.4% | -0.2% | ||
| Q2 24 | 35.3% | 27.5% | ||
| Q1 24 | 32.5% | 43.3% |
| Q4 25 | 6.5% | -149.5% | ||
| Q3 25 | 4.8% | -67.6% | ||
| Q2 25 | 7.7% | -33.4% | ||
| Q1 25 | 8.3% | -59.1% | ||
| Q4 24 | 6.7% | -41.9% | ||
| Q3 24 | -17.6% | -43.2% | ||
| Q2 24 | 4.7% | -64.3% | ||
| Q1 24 | 5.1% | 30.8% |
| Q4 25 | 5.1% | 268.5% | ||
| Q3 25 | 0.2% | -177.6% | ||
| Q2 25 | 4.5% | -1191.4% | ||
| Q1 25 | 3.1% | 724.6% | ||
| Q4 24 | 3.8% | -279.7% | ||
| Q3 24 | -13.4% | -477.4% | ||
| Q2 24 | 1.3% | -639.4% | ||
| Q1 24 | 3.5% | 117.5% |
| Q4 25 | $0.44 | $-1.63 | ||
| Q3 25 | $0.01 | $-0.45 | ||
| Q2 25 | $0.42 | $-0.04 | ||
| Q1 25 | $0.27 | $1.24 | ||
| Q4 24 | $0.35 | $0.51 | ||
| Q3 24 | $-0.94 | $-1.17 | ||
| Q2 24 | $0.11 | $-5.05 | ||
| Q1 24 | $0.30 | $0.78 |
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 | $311.4M |
| Total DebtLower is stronger | $105.4M | — |
| Stockholders' EquityBook value | $271.6M | $-962.7M |
| Total Assets | $659.4M | $2.3B |
| Debt / EquityLower = less leverage | 0.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | $311.4M | ||
| Q3 25 | $64.8M | $453.4M | ||
| Q2 25 | $59.7M | $581.3M | ||
| Q1 25 | $49.4M | $697.9M | ||
| Q4 24 | $52.6M | $836.2M | ||
| Q3 24 | $51.0M | $253.0M | ||
| Q2 24 | $64.6M | $96.1M | ||
| Q1 24 | $59.2M | $98.1M |
| Q4 25 | $105.4M | — | ||
| Q3 25 | $106.5M | — | ||
| Q2 25 | $87.6M | — | ||
| Q1 25 | $73.9M | — | ||
| Q4 24 | $74.9M | — | ||
| Q3 24 | $83.4M | — | ||
| Q2 24 | $48.4M | — | ||
| Q1 24 | $48.9M | — |
| Q4 25 | $271.6M | $-962.7M | ||
| Q3 25 | $263.6M | $-1.3B | ||
| Q2 25 | $263.2M | $-1.2B | ||
| Q1 25 | $256.1M | $-308.8M | ||
| Q4 24 | $249.6M | $-943.0M | ||
| Q3 24 | $247.1M | $-826.7M | ||
| Q2 24 | $255.9M | $-1.2B | ||
| Q1 24 | $256.0M | $-318.5M |
| Q4 25 | $659.4M | $2.3B | ||
| Q3 25 | $643.3M | $2.2B | ||
| Q2 25 | $633.3M | $1.9B | ||
| Q1 25 | $628.3M | $1.5B | ||
| Q4 24 | $594.1M | $1.5B | ||
| Q3 24 | $590.9M | $824.6M | ||
| Q2 24 | $535.2M | $664.2M | ||
| Q1 24 | $490.3M | $814.0M |
| Q4 25 | 0.39× | — | ||
| Q3 25 | 0.40× | — | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.30× | — | ||
| Q3 24 | 0.34× | — | ||
| Q2 24 | 0.19× | — | ||
| Q1 24 | 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 | $23.9M | $278.3M |
| Free Cash FlowOCF − Capex | $22.5M | $-450.8M |
| FCF MarginFCF / Revenue | 20.2% | -565.1% |
| Capex IntensityCapex / Revenue | 1.3% | 914.0% |
| Cash ConversionOCF / Net Profit | 4.18× | 1.30× |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | $-779.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.9M | $278.3M | ||
| Q3 25 | $-11.7M | $131.8M | ||
| Q2 25 | $10.5M | $34.0M | ||
| Q1 25 | $1.6M | $-45.0M | ||
| Q4 24 | $20.8M | $42.9M | ||
| Q3 24 | $-27.2M | $5.7M | ||
| Q2 24 | $8.3M | $1.2M | ||
| Q1 24 | $15.3M | $22.2M |
| Q4 25 | $22.5M | $-450.8M | ||
| Q3 25 | $-13.5M | $-112.7M | ||
| Q2 25 | $8.2M | $-87.3M | ||
| Q1 25 | $-1.2M | $-129.0M | ||
| Q4 24 | $18.3M | $-52.1M | ||
| Q3 24 | $-32.6M | $-25.5M | ||
| Q2 24 | $7.5M | $-1.9M | ||
| Q1 24 | $14.8M | $-9.7M |
| Q4 25 | 20.2% | -565.1% | ||
| Q3 25 | -12.6% | -139.0% | ||
| Q2 25 | 7.1% | -111.0% | ||
| Q1 25 | -1.0% | -162.2% | ||
| Q4 24 | 15.5% | -54.8% | ||
| Q3 24 | -36.8% | -26.7% | ||
| Q2 24 | 6.4% | -1.4% | ||
| Q1 24 | 13.4% | -5.4% |
| Q4 25 | 1.3% | 914.0% | ||
| Q3 25 | 1.6% | 301.5% | ||
| Q2 25 | 2.0% | 154.2% | ||
| Q1 25 | 2.5% | 105.6% | ||
| Q4 24 | 2.1% | 100.0% | ||
| Q3 24 | 6.1% | 32.7% | ||
| Q2 24 | 0.7% | 2.2% | ||
| Q1 24 | 0.4% | 17.8% |
| Q4 25 | 4.18× | 1.30× | ||
| Q3 25 | -72.48× | — | ||
| Q2 25 | 2.02× | — | ||
| Q1 25 | 0.46× | -0.08× | ||
| Q4 24 | 4.62× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 5.37× | — | ||
| Q1 24 | 3.96× | 0.11× |
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% |
CORZ
| Other | $36.3M | 46% |
| Digital Asset Self Mining Service | $31.8M | 40% |
| Colocation Service | $11.6M | 15% |
