vs
Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and Hippo Holdings Inc. (HIPO). Click either name above to swap in a different company.
Hippo Holdings Inc. is the larger business by last-quarter revenue ($120.4M vs $111.5M, roughly 1.1× AVIAT NETWORKS, INC.). AVIAT NETWORKS, INC. runs the higher net margin — 5.1% vs 5.0%, a 0.1% gap on every dollar of revenue. On growth, Hippo Holdings Inc. posted the faster year-over-year revenue change (18.2% vs -5.7%). AVIAT NETWORKS, INC. produced more free cash flow last quarter ($22.5M vs $9.1M). Over the past eight quarters, Hippo Holdings Inc.'s revenue compounded faster (18.9% 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.
Hippo Valley Estate is a sugar estate found near the town of Chiredzi in Chiredzi District of southeastern Zimbabwe, on the Runde River near the border with Mozambique.
AVNW vs HIPO — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $120.4M |
| Net Profit | $5.7M | $6.0M |
| Gross Margin | 32.4% | — |
| Operating Margin | 6.5% | 5.6% |
| Net Margin | 5.1% | 5.0% |
| Revenue YoY | -5.7% | 18.2% |
| Net Profit YoY | 27.2% | -86.4% |
| EPS (diluted) | $0.44 | $0.31 |
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 | $120.4M | ||
| Q3 25 | $107.3M | $120.6M | ||
| Q2 25 | $115.3M | $117.3M | ||
| Q1 25 | $112.6M | $110.3M | ||
| Q4 24 | $118.2M | $101.9M | ||
| Q3 24 | $88.4M | $95.5M | ||
| Q2 24 | $116.7M | $89.6M | ||
| Q1 24 | $110.8M | $85.1M |
| Q4 25 | $5.7M | $6.0M | ||
| Q3 25 | $162.0K | $98.1M | ||
| Q2 25 | $5.2M | $1.3M | ||
| Q1 25 | $3.5M | $-47.7M | ||
| Q4 24 | $4.5M | $44.2M | ||
| Q3 24 | $-11.9M | $-8.5M | ||
| Q2 24 | $1.5M | $-40.5M | ||
| Q1 24 | $3.9M | $-35.7M |
| 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% | 5.6% | ||
| Q3 25 | 4.8% | 81.3% | ||
| Q2 25 | 7.7% | 3.4% | ||
| Q1 25 | 8.3% | -41.3% | ||
| Q4 24 | 6.7% | 46.3% | ||
| Q3 24 | -17.6% | -5.4% | ||
| Q2 24 | 4.7% | -40.7% | ||
| Q1 24 | 5.1% | -38.7% |
| Q4 25 | 5.1% | 5.0% | ||
| Q3 25 | 0.2% | 81.3% | ||
| Q2 25 | 4.5% | 1.1% | ||
| Q1 25 | 3.1% | -43.2% | ||
| Q4 24 | 3.8% | 43.4% | ||
| Q3 24 | -13.4% | -8.9% | ||
| Q2 24 | 1.3% | -45.2% | ||
| Q1 24 | 3.5% | -42.0% |
| Q4 25 | $0.44 | $0.31 | ||
| Q3 25 | $0.01 | $3.77 | ||
| Q2 25 | $0.42 | $0.05 | ||
| Q1 25 | $0.27 | $-1.91 | ||
| Q4 24 | $0.35 | $1.81 | ||
| Q3 24 | $-0.94 | $-0.34 | ||
| Q2 24 | $0.11 | $-1.64 | ||
| Q1 24 | $0.30 | $-1.47 |
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 | $218.3M |
| Total DebtLower is stronger | $105.4M | — |
| Stockholders' EquityBook value | $271.6M | $436.1M |
| Total Assets | $659.4M | $1.9B |
| Debt / EquityLower = less leverage | 0.39× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | $218.3M | ||
| Q3 25 | $64.8M | $247.7M | ||
| Q2 25 | $59.7M | $198.9M | ||
| Q1 25 | $49.4M | $140.9M | ||
| Q4 24 | $52.6M | $197.6M | ||
| Q3 24 | $51.0M | $191.2M | ||
| Q2 24 | $64.6M | $175.9M | ||
| Q1 24 | $59.2M | $223.4M |
| 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 | $436.1M | ||
| Q3 25 | $263.6M | $421.5M | ||
| Q2 25 | $263.2M | $332.5M | ||
| Q1 25 | $256.1M | $322.8M | ||
| Q4 24 | $249.6M | $362.1M | ||
| Q3 24 | $247.1M | $326.4M | ||
| Q2 24 | $255.9M | $322.6M | ||
| Q1 24 | $256.0M | $351.2M |
| Q4 25 | $659.4M | $1.9B | ||
| Q3 25 | $643.3M | $1.9B | ||
| Q2 25 | $633.3M | $1.7B | ||
| Q1 25 | $628.3M | $1.5B | ||
| Q4 24 | $594.1M | $1.5B | ||
| Q3 24 | $590.9M | $1.5B | ||
| Q2 24 | $535.2M | $1.5B | ||
| Q1 24 | $490.3M | $1.5B |
| 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 | $9.2M |
| Free Cash FlowOCF − Capex | $22.5M | $9.1M |
| FCF MarginFCF / Revenue | 20.2% | 7.6% |
| Capex IntensityCapex / Revenue | 1.3% | 0.1% |
| Cash ConversionOCF / Net Profit | 4.18× | 1.53× |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | $14.8M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.9M | $9.2M | ||
| Q3 25 | $-11.7M | $16.9M | ||
| Q2 25 | $10.5M | $24.7M | ||
| Q1 25 | $1.6M | $-35.6M | ||
| Q4 24 | $20.8M | $47.5M | ||
| Q3 24 | $-27.2M | $46.8M | ||
| Q2 24 | $8.3M | $-10.6M | ||
| Q1 24 | $15.3M | $17.7M |
| Q4 25 | $22.5M | $9.1M | ||
| Q3 25 | $-13.5M | $16.8M | ||
| Q2 25 | $8.2M | $24.6M | ||
| Q1 25 | $-1.2M | $-35.7M | ||
| Q4 24 | $18.3M | $47.2M | ||
| Q3 24 | $-32.6M | — | ||
| Q2 24 | $7.5M | $-10.7M | ||
| Q1 24 | $14.8M | $17.6M |
| Q4 25 | 20.2% | 7.6% | ||
| Q3 25 | -12.6% | 13.9% | ||
| Q2 25 | 7.1% | 21.0% | ||
| Q1 25 | -1.0% | -32.4% | ||
| Q4 24 | 15.5% | 46.3% | ||
| Q3 24 | -36.8% | — | ||
| Q2 24 | 6.4% | -11.9% | ||
| Q1 24 | 13.4% | 20.7% |
| Q4 25 | 1.3% | 0.1% | ||
| Q3 25 | 1.6% | 0.1% | ||
| Q2 25 | 2.0% | 0.1% | ||
| Q1 25 | 2.5% | 0.1% | ||
| Q4 24 | 2.1% | 0.3% | ||
| Q3 24 | 6.1% | 0.0% | ||
| Q2 24 | 0.7% | 0.1% | ||
| Q1 24 | 0.4% | 0.1% |
| Q4 25 | 4.18× | 1.53× | ||
| Q3 25 | -72.48× | 0.17× | ||
| Q2 25 | 2.02× | 19.00× | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 4.62× | 1.07× | ||
| 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% |
HIPO
Segment breakdown not available.
