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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and JFrog Ltd (FROG). Click either name above to swap in a different company.
JFrog Ltd is the larger business by last-quarter revenue ($145.3M vs $111.5M, roughly 1.3× AVIAT NETWORKS, INC.). AVIAT NETWORKS, INC. runs the higher net margin — 5.1% vs -10.5%, a 15.6% gap on every dollar of revenue. On growth, JFrog Ltd posted the faster year-over-year revenue change (25.2% vs -5.7%). JFrog Ltd produced more free cash flow last quarter ($49.9M vs $22.5M). Over the past eight quarters, JFrog Ltd's revenue compounded faster (20.4% 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.
JFrog Ltd is a global DevOps technology provider that delivers end-to-end software release, artifact management, and security solutions. It serves clients across tech, finance, retail, and manufacturing sectors, helping teams streamline development and delivery workflows for cloud, on-premises, and hybrid infrastructure.
AVNW vs FROG — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $145.3M |
| Net Profit | $5.7M | $-15.2M |
| Gross Margin | 32.4% | 77.9% |
| Operating Margin | 6.5% | -14.7% |
| Net Margin | 5.1% | -10.5% |
| Revenue YoY | -5.7% | 25.2% |
| Net Profit YoY | 27.2% | 34.4% |
| EPS (diluted) | $0.44 | $-0.13 |
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 | $145.3M | ||
| Q3 25 | $107.3M | $136.9M | ||
| Q2 25 | $115.3M | $127.2M | ||
| Q1 25 | $112.6M | $122.4M | ||
| Q4 24 | $118.2M | $116.1M | ||
| Q3 24 | $88.4M | $109.1M | ||
| Q2 24 | $116.7M | $103.0M | ||
| Q1 24 | $110.8M | $100.3M |
| Q4 25 | $5.7M | $-15.2M | ||
| Q3 25 | $162.0K | $-16.4M | ||
| Q2 25 | $5.2M | $-21.7M | ||
| Q1 25 | $3.5M | $-18.5M | ||
| Q4 24 | $4.5M | $-23.2M | ||
| Q3 24 | $-11.9M | $-22.9M | ||
| Q2 24 | $1.5M | $-14.3M | ||
| Q1 24 | $3.9M | $-8.8M |
| Q4 25 | 32.4% | 77.9% | ||
| Q3 25 | 33.2% | 77.4% | ||
| Q2 25 | 34.2% | 76.3% | ||
| Q1 25 | 34.9% | 75.3% | ||
| Q4 24 | 34.6% | 75.4% | ||
| Q3 24 | 22.4% | 75.0% | ||
| Q2 24 | 35.3% | 78.8% | ||
| Q1 24 | 32.5% | 79.5% |
| Q4 25 | 6.5% | -14.7% | ||
| Q3 25 | 4.8% | -15.8% | ||
| Q2 25 | 7.7% | -20.4% | ||
| Q1 25 | 8.3% | -18.8% | ||
| Q4 24 | 6.7% | -21.9% | ||
| Q3 24 | -17.6% | -27.4% | ||
| Q2 24 | 4.7% | -18.6% | ||
| Q1 24 | 5.1% | -16.6% |
| Q4 25 | 5.1% | -10.5% | ||
| Q3 25 | 0.2% | -12.0% | ||
| Q2 25 | 4.5% | -17.0% | ||
| Q1 25 | 3.1% | -15.1% | ||
| Q4 24 | 3.8% | -20.0% | ||
| Q3 24 | -13.4% | -21.0% | ||
| Q2 24 | 1.3% | -13.9% | ||
| Q1 24 | 3.5% | -8.8% |
| Q4 25 | $0.44 | $-0.13 | ||
| Q3 25 | $0.01 | $-0.14 | ||
| Q2 25 | $0.42 | $-0.19 | ||
| Q1 25 | $0.27 | $-0.16 | ||
| Q4 24 | $0.35 | $-0.21 | ||
| Q3 24 | $-0.94 | $-0.21 | ||
| Q2 24 | $0.11 | $-0.13 | ||
| Q1 24 | $0.30 | $-0.08 |
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 | $704.4M |
| Total DebtLower is stronger | $105.4M | — |
| Stockholders' EquityBook value | $271.6M | $887.4M |
| Total Assets | $659.4M | $1.3B |
| Debt / EquityLower = less leverage | 0.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | $704.4M | ||
| Q3 25 | $64.8M | $651.1M | ||
| Q2 25 | $59.7M | $611.7M | ||
| Q1 25 | $49.4M | $563.5M | ||
| Q4 24 | $52.6M | $522.0M | ||
| Q3 24 | $51.0M | $467.8M | ||
| Q2 24 | $64.6M | $591.3M | ||
| Q1 24 | $59.2M | $579.6M |
| 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 | $887.4M | ||
| Q3 25 | $263.6M | $859.4M | ||
| Q2 25 | $263.2M | $826.5M | ||
| Q1 25 | $256.1M | $800.0M | ||
| Q4 24 | $249.6M | $773.5M | ||
| Q3 24 | $247.1M | $756.2M | ||
| Q2 24 | $255.9M | $721.4M | ||
| Q1 24 | $256.0M | $707.8M |
| Q4 25 | $659.4M | $1.3B | ||
| Q3 25 | $643.3M | $1.3B | ||
| Q2 25 | $633.3M | $1.2B | ||
| Q1 25 | $628.3M | $1.2B | ||
| Q4 24 | $594.1M | $1.1B | ||
| Q3 24 | $590.9M | $1.1B | ||
| Q2 24 | $535.2M | $1.0B | ||
| Q1 24 | $490.3M | $997.1M |
| 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 | $50.7M |
| Free Cash FlowOCF − Capex | $22.5M | $49.9M |
| FCF MarginFCF / Revenue | 20.2% | 34.3% |
| Capex IntensityCapex / Revenue | 1.3% | 0.6% |
| Cash ConversionOCF / Net Profit | 4.18× | — |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | $142.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.9M | $50.7M | ||
| Q3 25 | $-11.7M | $30.2M | ||
| Q2 25 | $10.5M | $36.1M | ||
| Q1 25 | $1.6M | $28.8M | ||
| Q4 24 | $20.8M | $49.1M | ||
| Q3 24 | $-27.2M | $27.6M | ||
| Q2 24 | $8.3M | $16.7M | ||
| Q1 24 | $15.3M | $17.5M |
| Q4 25 | $22.5M | $49.9M | ||
| Q3 25 | $-13.5M | $28.8M | ||
| Q2 25 | $8.2M | $35.5M | ||
| Q1 25 | $-1.2M | $28.1M | ||
| Q4 24 | $18.3M | $48.5M | ||
| Q3 24 | $-32.6M | $26.7M | ||
| Q2 24 | $7.5M | $16.0M | ||
| Q1 24 | $14.8M | $16.6M |
| Q4 25 | 20.2% | 34.3% | ||
| Q3 25 | -12.6% | 21.0% | ||
| Q2 25 | 7.1% | 27.9% | ||
| Q1 25 | -1.0% | 23.0% | ||
| Q4 24 | 15.5% | 41.8% | ||
| Q3 24 | -36.8% | 24.5% | ||
| Q2 24 | 6.4% | 15.5% | ||
| Q1 24 | 13.4% | 16.6% |
| Q4 25 | 1.3% | 0.6% | ||
| Q3 25 | 1.6% | 1.0% | ||
| Q2 25 | 2.0% | 0.5% | ||
| Q1 25 | 2.5% | 0.5% | ||
| Q4 24 | 2.1% | 0.5% | ||
| Q3 24 | 6.1% | 0.9% | ||
| Q2 24 | 0.7% | 0.7% | ||
| Q1 24 | 0.4% | 0.8% |
| 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% |
FROG
Segment breakdown not available.
