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Side-by-side financial comparison of Bandwidth Inc. (BAND) and Industrial Logistics Properties Trust (ILPT). Click either name above to swap in a different company.
Bandwidth Inc. is the larger business by last-quarter revenue ($208.8M vs $113.9M, roughly 1.8× Industrial Logistics Properties Trust). Bandwidth Inc. runs the higher net margin — 1.9% vs -1.6%, a 3.5% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 3.1%). Industrial Logistics Properties Trust produced more free cash flow last quarter ($42.0M vs $-1.0M). Over the past eight quarters, Bandwidth Inc.'s revenue compounded faster (9.7% CAGR vs 0.7%).
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.
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
BAND vs ILPT — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $113.9M |
| Net Profit | $4.0M | $-1.8M |
| Gross Margin | 37.3% | — |
| Operating Margin | 60.5% | -22.1% |
| Net Margin | 1.9% | -1.6% |
| Revenue YoY | 20.1% | 3.1% |
| Net Profit YoY | 200.0% | 92.6% |
| EPS (diluted) | $-0.08 | $-0.02 |
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 | $113.9M | ||
| Q3 25 | $191.9M | $110.9M | ||
| Q2 25 | $180.0M | $112.1M | ||
| Q1 25 | $174.2M | $111.9M | ||
| Q4 24 | $210.0M | $110.5M | ||
| Q3 24 | $193.9M | $108.9M | ||
| Q2 24 | $173.6M | $110.6M |
| Q1 26 | $4.0M | — | ||
| Q4 25 | — | $-1.8M | ||
| Q3 25 | $-1.2M | $-21.6M | ||
| Q2 25 | $-4.9M | $-21.3M | ||
| Q1 25 | $-3.7M | $-21.5M | ||
| Q4 24 | — | $-24.1M | ||
| Q3 24 | $413.0K | $-25.0M | ||
| Q2 24 | $4.1M | $-23.2M |
| 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% | -22.1% | ||
| Q3 25 | -1.0% | -29.4% | ||
| Q2 25 | -2.1% | -30.8% | ||
| Q1 25 | -2.7% | -26.9% | ||
| Q4 24 | -1.3% | -31.1% | ||
| Q3 24 | -0.5% | -33.5% | ||
| Q2 24 | -3.5% | -32.4% |
| Q1 26 | 1.9% | — | ||
| Q4 25 | — | -1.6% | ||
| Q3 25 | -0.6% | -19.4% | ||
| Q2 25 | -2.7% | -19.0% | ||
| Q1 25 | -2.1% | -19.2% | ||
| Q4 24 | — | -21.8% | ||
| Q3 24 | 0.2% | -22.9% | ||
| Q2 24 | 2.3% | -20.9% |
| Q1 26 | $-0.08 | — | ||
| Q4 25 | $-0.10 | $-0.02 | ||
| Q3 25 | $-0.04 | $-0.33 | ||
| Q2 25 | $-0.16 | $-0.32 | ||
| Q1 25 | $-0.13 | $-0.33 | ||
| Q4 24 | $0.27 | $-0.37 | ||
| Q3 24 | $0.01 | $-0.38 | ||
| Q2 24 | $-0.17 | $-0.35 |
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 | $94.8M |
| Total DebtLower is stronger | — | $4.2B |
| Stockholders' EquityBook value | $405.7M | $489.7M |
| Total Assets | $984.2M | $5.2B |
| Debt / EquityLower = less leverage | — | 8.56× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | — | ||
| Q4 25 | $111.3M | $94.8M | ||
| Q3 25 | $80.4M | $83.2M | ||
| Q2 25 | $68.1M | $58.6M | ||
| Q1 25 | $41.7M | $108.0M | ||
| Q4 24 | $83.8M | $131.7M | ||
| Q3 24 | $79.9M | $153.9M | ||
| Q2 24 | $76.4M | $146.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $4.2B | ||
| Q3 25 | — | $4.2B | ||
| Q2 25 | — | $4.2B | ||
| Q1 25 | — | $4.3B | ||
| Q4 24 | — | $4.3B | ||
| Q3 24 | — | $4.3B | ||
| Q2 24 | — | $4.3B |
| Q1 26 | $405.7M | — | ||
| Q4 25 | $400.0M | $489.7M | ||
| Q3 25 | $392.7M | $494.1M | ||
| Q2 25 | $384.5M | $519.1M | ||
| Q1 25 | $345.4M | $539.5M | ||
| Q4 24 | $312.5M | $562.0M | ||
| Q3 24 | $336.6M | $585.9M | ||
| Q2 24 | $307.4M | $618.3M |
| Q1 26 | $984.2M | — | ||
| Q4 25 | $1.1B | $5.2B | ||
| Q3 25 | $1.0B | $5.2B | ||
| Q2 25 | $1.0B | $5.2B | ||
| Q1 25 | $964.4M | $5.4B | ||
| Q4 24 | $989.2M | $5.4B | ||
| Q3 24 | $1.0B | $5.5B | ||
| Q2 24 | $1.0B | $5.5B |
| Q1 26 | — | — | ||
| Q4 25 | — | 8.56× | ||
| Q3 25 | — | 8.49× | ||
| Q2 25 | — | 8.09× | ||
| Q1 25 | — | 7.96× | ||
| Q4 24 | — | 7.65× | ||
| Q3 24 | — | 7.35× | ||
| Q2 24 | — | 6.96× |
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 | — | $60.7M |
| Free Cash FlowOCF − Capex | $-1.0M | $42.0M |
| FCF MarginFCF / Revenue | -0.5% | 36.9% |
| Capex IntensityCapex / Revenue | — | 16.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $79.8M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $38.6M | $60.7M | ||
| Q3 25 | $22.2M | $22.7M | ||
| Q2 25 | $31.7M | $18.4M | ||
| Q1 25 | $-3.1M | $11.4M | ||
| Q4 24 | $36.5M | $2.0M | ||
| Q3 24 | $20.5M | $-3.4M | ||
| Q2 24 | $24.4M | $10.8M |
| Q1 26 | $-1.0M | — | ||
| Q4 25 | — | $42.0M | ||
| Q3 25 | — | $17.6M | ||
| Q2 25 | — | $15.2M | ||
| Q1 25 | — | $5.0M | ||
| Q4 24 | — | $-3.7M | ||
| Q3 24 | — | $-5.9M | ||
| Q2 24 | — | $9.4M |
| Q1 26 | -0.5% | — | ||
| Q4 25 | — | 36.9% | ||
| Q3 25 | — | 15.9% | ||
| Q2 25 | — | 13.5% | ||
| Q1 25 | — | 4.5% | ||
| Q4 24 | — | -3.4% | ||
| Q3 24 | — | -5.5% | ||
| Q2 24 | — | 8.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 16.4% | ||
| Q3 25 | — | 4.6% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 5.7% | ||
| Q4 24 | — | 5.2% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 1.3% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 49.55× | — | ||
| Q2 24 | 6.03× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
