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Side-by-side financial comparison of AVIAT NETWORKS, INC. (AVNW) and TACTILE SYSTEMS TECHNOLOGY INC (TCMD). Click either name above to swap in a different company.
AVIAT NETWORKS, INC. is the larger business by last-quarter revenue ($111.5M vs $103.6M, roughly 1.1× TACTILE SYSTEMS TECHNOLOGY INC). TACTILE SYSTEMS TECHNOLOGY INC runs the higher net margin — 10.3% vs 5.1%, a 5.1% gap on every dollar of revenue. On growth, TACTILE SYSTEMS TECHNOLOGY INC posted the faster year-over-year revenue change (21.0% vs -5.7%). AVIAT NETWORKS, INC. produced more free cash flow last quarter ($22.5M vs $16.8M). Over the past eight quarters, TACTILE SYSTEMS TECHNOLOGY INC's revenue compounded faster (30.2% 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.
Dominion Voting Systems Corporation was a North American company that produced and sold electronic voting hardware and software, including voting machines and tabulators, in Canada and the United States.
AVNW vs TCMD — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $111.5M | $103.6M |
| Net Profit | $5.7M | $10.6M |
| Gross Margin | 32.4% | 78.2% |
| Operating Margin | 6.5% | 18.1% |
| Net Margin | 5.1% | 10.3% |
| Revenue YoY | -5.7% | 21.0% |
| Net Profit YoY | 27.2% | 9.4% |
| EPS (diluted) | $0.44 | $0.45 |
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 | $103.6M | ||
| Q3 25 | $107.3M | $85.8M | ||
| Q2 25 | $115.3M | $78.9M | ||
| Q1 25 | $112.6M | $61.3M | ||
| Q4 24 | $118.2M | $85.6M | ||
| Q3 24 | $88.4M | $73.1M | ||
| Q2 24 | $116.7M | $73.2M | ||
| Q1 24 | $110.8M | $61.1M |
| Q4 25 | $5.7M | $10.6M | ||
| Q3 25 | $162.0K | $8.2M | ||
| Q2 25 | $5.2M | $3.2M | ||
| Q1 25 | $3.5M | $-3.0M | ||
| Q4 24 | $4.5M | $9.7M | ||
| Q3 24 | $-11.9M | $5.2M | ||
| Q2 24 | $1.5M | $4.3M | ||
| Q1 24 | $3.9M | $-2.2M |
| Q4 25 | 32.4% | 78.2% | ||
| Q3 25 | 33.2% | 75.8% | ||
| Q2 25 | 34.2% | 74.5% | ||
| Q1 25 | 34.9% | 74.0% | ||
| Q4 24 | 34.6% | 75.2% | ||
| Q3 24 | 22.4% | 75.0% | ||
| Q2 24 | 35.3% | 73.9% | ||
| Q1 24 | 32.5% | 71.1% |
| Q4 25 | 6.5% | 18.1% | ||
| Q3 25 | 4.8% | 12.8% | ||
| Q2 25 | 7.7% | 5.2% | ||
| Q1 25 | 8.3% | -7.4% | ||
| Q4 24 | 6.7% | 14.6% | ||
| Q3 24 | -17.6% | 9.3% | ||
| Q2 24 | 4.7% | 8.0% | ||
| Q1 24 | 5.1% | -4.9% |
| Q4 25 | 5.1% | 10.3% | ||
| Q3 25 | 0.2% | 9.6% | ||
| Q2 25 | 4.5% | 4.1% | ||
| Q1 25 | 3.1% | -4.9% | ||
| Q4 24 | 3.8% | 11.4% | ||
| Q3 24 | -13.4% | 7.1% | ||
| Q2 24 | 1.3% | 5.9% | ||
| Q1 24 | 3.5% | -3.6% |
| Q4 25 | $0.44 | $0.45 | ||
| Q3 25 | $0.01 | $0.36 | ||
| Q2 25 | $0.42 | $0.14 | ||
| Q1 25 | $0.27 | $-0.13 | ||
| Q4 24 | $0.35 | $0.40 | ||
| Q3 24 | $-0.94 | $0.21 | ||
| Q2 24 | $0.11 | $0.18 | ||
| Q1 24 | $0.30 | $-0.09 |
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 | $83.4M |
| Total DebtLower is stronger | $105.4M | $0 |
| Stockholders' EquityBook value | $271.6M | $218.9M |
| Total Assets | $659.4M | $273.9M |
| Debt / EquityLower = less leverage | 0.39× | 0.00× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $86.5M | $83.4M | ||
| Q3 25 | $64.8M | $66.0M | ||
| Q2 25 | $59.7M | $81.5M | ||
| Q1 25 | $49.4M | $83.6M | ||
| Q4 24 | $52.6M | $94.4M | ||
| Q3 24 | $51.0M | $82.1M | ||
| Q2 24 | $64.6M | $73.6M | ||
| Q1 24 | $59.2M | $60.7M |
| Q4 25 | $105.4M | $0 | ||
| Q3 25 | $106.5M | $0 | ||
| Q2 25 | $87.6M | — | ||
| Q1 25 | $73.9M | — | ||
| Q4 24 | $74.9M | — | ||
| Q3 24 | $83.4M | $27.0M | ||
| Q2 24 | $48.4M | $27.8M | ||
| Q1 24 | $48.9M | $28.5M |
| Q4 25 | $271.6M | $218.9M | ||
| Q3 25 | $263.6M | $204.9M | ||
| Q2 25 | $263.2M | $194.9M | ||
| Q1 25 | $256.1M | $205.6M | ||
| Q4 24 | $249.6M | $216.6M | ||
| Q3 24 | $247.1M | $207.9M | ||
| Q2 24 | $255.9M | $200.7M | ||
| Q1 24 | $256.0M | $193.5M |
| Q4 25 | $659.4M | $273.9M | ||
| Q3 25 | $643.3M | $259.2M | ||
| Q2 25 | $633.3M | $273.0M | ||
| Q1 25 | $628.3M | $280.2M | ||
| Q4 24 | $594.1M | $297.9M | ||
| Q3 24 | $590.9M | $287.7M | ||
| Q2 24 | $535.2M | $278.8M | ||
| Q1 24 | $490.3M | $272.0M |
| Q4 25 | 0.39× | 0.00× | ||
| Q3 25 | 0.40× | 0.00× | ||
| Q2 25 | 0.33× | — | ||
| Q1 25 | 0.29× | — | ||
| Q4 24 | 0.30× | — | ||
| Q3 24 | 0.34× | 0.13× | ||
| Q2 24 | 0.19× | 0.14× | ||
| Q1 24 | 0.19× | 0.15× |
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 | $17.3M |
| Free Cash FlowOCF − Capex | $22.5M | $16.8M |
| FCF MarginFCF / Revenue | 20.2% | 16.2% |
| Capex IntensityCapex / Revenue | 1.3% | 0.5% |
| Cash ConversionOCF / Net Profit | 4.18× | 1.63× |
| TTM Free Cash FlowTrailing 4 quarters | $16.1M | $40.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $23.9M | $17.3M | ||
| Q3 25 | $-11.7M | $10.3M | ||
| Q2 25 | $10.5M | $14.8M | ||
| Q1 25 | $1.6M | $417.0K | ||
| Q4 24 | $20.8M | $16.3M | ||
| Q3 24 | $-27.2M | $10.3M | ||
| Q2 24 | $8.3M | $13.1M | ||
| Q1 24 | $15.3M | $924.0K |
| Q4 25 | $22.5M | $16.8M | ||
| Q3 25 | $-13.5M | $9.2M | ||
| Q2 25 | $8.2M | $14.4M | ||
| Q1 25 | $-1.2M | $38.0K | ||
| Q4 24 | $18.3M | $15.9M | ||
| Q3 24 | $-32.6M | $9.3M | ||
| Q2 24 | $7.5M | $12.6M | ||
| Q1 24 | $14.8M | $442.0K |
| Q4 25 | 20.2% | 16.2% | ||
| Q3 25 | -12.6% | 10.8% | ||
| Q2 25 | 7.1% | 18.2% | ||
| Q1 25 | -1.0% | 0.1% | ||
| Q4 24 | 15.5% | 18.5% | ||
| Q3 24 | -36.8% | 12.7% | ||
| Q2 24 | 6.4% | 17.3% | ||
| Q1 24 | 13.4% | 0.7% |
| Q4 25 | 1.3% | 0.5% | ||
| Q3 25 | 1.6% | 1.3% | ||
| Q2 25 | 2.0% | 0.5% | ||
| Q1 25 | 2.5% | 0.6% | ||
| Q4 24 | 2.1% | 0.5% | ||
| Q3 24 | 6.1% | 1.3% | ||
| Q2 24 | 0.7% | 0.7% | ||
| Q1 24 | 0.4% | 0.8% |
| Q4 25 | 4.18× | 1.63× | ||
| Q3 25 | -72.48× | 1.26× | ||
| Q2 25 | 2.02× | 4.59× | ||
| Q1 25 | 0.46× | — | ||
| Q4 24 | 4.62× | 1.68× | ||
| Q3 24 | — | 1.99× | ||
| Q2 24 | 5.37× | 3.06× | ||
| 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% |
TCMD
| Private Insurers | $57.6M | 56% |
| Medicare | $24.6M | 24% |
| Durable Medical Equipment Distributors | $14.1M | 14% |
| Veterans Administration | $7.3M | 7% |
