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Side-by-side financial comparison of Bandwidth Inc. (BAND) and H2O AMERICA (HTO). Click either name above to swap in a different company.
Bandwidth Inc. is the larger business by last-quarter revenue ($208.8M vs $199.4M, roughly 1.0× H2O AMERICA). H2O AMERICA runs the higher net margin — 8.1% vs 1.9%, a 6.2% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 9.7%).
Bandwidth Inc. is a communications platform as a service company. It sells software application programming interfaces for voice, text messaging and emergency services, using its own global IP voice network.
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
BAND vs HTO — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $199.4M |
| Net Profit | $4.0M | $16.2M |
| Gross Margin | 37.3% | — |
| Operating Margin | 60.5% | 16.6% |
| Net Margin | 1.9% | 8.1% |
| Revenue YoY | 20.1% | 1.5% |
| Net Profit YoY | 200.0% | -29.2% |
| EPS (diluted) | $-0.08 | $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.
| Q1 26 | $208.8M | — | ||
| Q4 25 | $207.7M | $199.4M | ||
| Q3 25 | $191.9M | $243.5M | ||
| Q2 25 | $180.0M | $197.8M | ||
| Q1 25 | $174.2M | $164.9M | ||
| Q4 24 | $210.0M | $196.5M | ||
| Q3 24 | $193.9M | $216.7M | ||
| Q2 24 | $173.6M | $173.1M |
| Q1 26 | $4.0M | — | ||
| Q4 25 | — | $16.2M | ||
| Q3 25 | $-1.2M | $45.1M | ||
| Q2 25 | $-4.9M | $24.7M | ||
| Q1 25 | $-3.7M | $16.6M | ||
| Q4 24 | — | $22.9M | ||
| Q3 24 | $413.0K | $38.7M | ||
| Q2 24 | $4.1M | $20.7M |
| Q1 26 | 37.3% | — | ||
| Q4 25 | 37.6% | — | ||
| Q3 25 | 38.5% | — | ||
| Q2 25 | 39.8% | — | ||
| Q1 25 | 41.0% | — | ||
| Q4 24 | 36.4% | — | ||
| Q3 24 | 37.7% | — | ||
| Q2 24 | 37.3% | — |
| Q1 26 | 60.5% | — | ||
| Q4 25 | -1.9% | 16.6% | ||
| Q3 25 | -1.0% | 26.5% | ||
| Q2 25 | -2.1% | 22.2% | ||
| Q1 25 | -2.7% | 21.8% | ||
| Q4 24 | -1.3% | 22.2% | ||
| Q3 24 | -0.5% | 26.9% | ||
| Q2 24 | -3.5% | 23.4% |
| Q1 26 | 1.9% | — | ||
| Q4 25 | — | 8.1% | ||
| Q3 25 | -0.6% | 18.5% | ||
| Q2 25 | -2.7% | 12.5% | ||
| Q1 25 | -2.1% | 10.0% | ||
| Q4 24 | — | 11.7% | ||
| Q3 24 | 0.2% | 17.8% | ||
| Q2 24 | 2.3% | 12.0% |
| Q1 26 | $-0.08 | — | ||
| Q4 25 | $-0.10 | $0.45 | ||
| Q3 25 | $-0.04 | $1.27 | ||
| Q2 25 | $-0.16 | $0.71 | ||
| Q1 25 | $-0.13 | $0.49 | ||
| Q4 24 | $0.27 | $0.70 | ||
| Q3 24 | $0.01 | $1.17 | ||
| Q2 24 | $-0.17 | $0.64 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $47.3M | $20.7M |
| Total DebtLower is stronger | — | $1.9B |
| Stockholders' EquityBook value | $405.7M | $1.5B |
| Total Assets | $984.2M | $5.1B |
| Debt / EquityLower = less leverage | — | 1.23× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | — | ||
| Q4 25 | $111.3M | $20.7M | ||
| Q3 25 | $80.4M | $11.3M | ||
| Q2 25 | $68.1M | $19.8M | ||
| Q1 25 | $41.7M | $23.7M | ||
| Q4 24 | $83.8M | $11.1M | ||
| Q3 24 | $79.9M | $4.0M | ||
| Q2 24 | $76.4M | $22.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.9B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.7B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | $405.7M | — | ||
| Q4 25 | $400.0M | $1.5B | ||
| Q3 25 | $392.7M | $1.5B | ||
| Q2 25 | $384.5M | $1.5B | ||
| Q1 25 | $345.4M | $1.4B | ||
| Q4 24 | $312.5M | $1.4B | ||
| Q3 24 | $336.6M | $1.3B | ||
| Q2 24 | $307.4M | $1.3B |
| Q1 26 | $984.2M | — | ||
| Q4 25 | $1.1B | $5.1B | ||
| Q3 25 | $1.0B | $5.0B | ||
| Q2 25 | $1.0B | $4.8B | ||
| Q1 25 | $964.4M | $4.7B | ||
| Q4 24 | $989.2M | $4.7B | ||
| Q3 24 | $1.0B | $4.6B | ||
| Q2 24 | $1.0B | $4.4B |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.23× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 1.26× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | — | $63.5M |
| Free Cash FlowOCF − Capex | $-1.0M | — |
| FCF MarginFCF / Revenue | -0.5% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 3.92× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $38.6M | $63.5M | ||
| Q3 25 | $22.2M | $77.3M | ||
| Q2 25 | $31.7M | $60.8M | ||
| Q1 25 | $-3.1M | $43.2M | ||
| Q4 24 | $36.5M | $41.5M | ||
| Q3 24 | $20.5M | $53.5M | ||
| Q2 24 | $24.4M | $49.3M |
| Q1 26 | $-1.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | -0.5% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.92× | ||
| Q3 25 | — | 1.71× | ||
| Q2 25 | — | 2.47× | ||
| Q1 25 | — | 2.61× | ||
| Q4 24 | — | 1.81× | ||
| Q3 24 | 49.55× | 1.39× | ||
| Q2 24 | 6.03× | 2.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAND
Segment breakdown not available.
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
