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Side-by-side financial comparison of Bandwidth Inc. (BAND) and Mayville Engineering Company, Inc. (MEC). Click either name above to swap in a different company.
Bandwidth Inc. is the larger business by last-quarter revenue ($208.8M vs $134.3M, roughly 1.6× Mayville Engineering Company, Inc.). Bandwidth Inc. runs the higher net margin — 1.9% vs -3.2%, a 5.2% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 10.7%). Mayville Engineering Company, Inc. produced more free cash flow last quarter ($10.2M vs $-1.0M). Over the past eight quarters, Bandwidth Inc.'s revenue compounded faster (9.7% CAGR vs -8.8%).
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.
Mayville Engineering Company, Inc. is a U.S.-headquartered leading manufacturer of metal components, fabricated assemblies, and custom engineered solutions. It serves OEM clients across agriculture, construction, transportation, defense, and power sports markets, offering end-to-end services from prototyping to high-volume production for North America.
BAND vs MEC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $134.3M |
| Net Profit | $4.0M | $-4.4M |
| Gross Margin | 37.3% | 6.8% |
| Operating Margin | 60.5% | -4.1% |
| Net Margin | 1.9% | -3.2% |
| Revenue YoY | 20.1% | 10.7% |
| Net Profit YoY | 200.0% | -127.3% |
| EPS (diluted) | $-0.08 | $-0.22 |
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 | $134.3M | ||
| Q3 25 | $191.9M | $144.3M | ||
| Q2 25 | $180.0M | $132.3M | ||
| Q1 25 | $174.2M | $135.6M | ||
| Q4 24 | $210.0M | $121.3M | ||
| Q3 24 | $193.9M | $135.4M | ||
| Q2 24 | $173.6M | $163.6M |
| Q1 26 | $4.0M | — | ||
| Q4 25 | — | $-4.4M | ||
| Q3 25 | $-1.2M | $-2.7M | ||
| Q2 25 | $-4.9M | $-1.1M | ||
| Q1 25 | $-3.7M | $20.0K | ||
| Q4 24 | — | $16.0M | ||
| Q3 24 | $413.0K | $3.0M | ||
| Q2 24 | $4.1M | $3.8M |
| Q1 26 | 37.3% | — | ||
| Q4 25 | 37.6% | 6.8% | ||
| Q3 25 | 38.5% | 11.0% | ||
| Q2 25 | 39.8% | 10.3% | ||
| Q1 25 | 41.0% | 11.3% | ||
| Q4 24 | 36.4% | 8.9% | ||
| Q3 24 | 37.7% | 12.6% | ||
| Q2 24 | 37.3% | 13.6% |
| Q1 26 | 60.5% | — | ||
| Q4 25 | -1.9% | -4.1% | ||
| Q3 25 | -1.0% | 0.0% | ||
| Q2 25 | -2.1% | 0.1% | ||
| Q1 25 | -2.7% | 1.2% | ||
| Q4 24 | -1.3% | 19.0% | ||
| Q3 24 | -0.5% | 4.2% | ||
| Q2 24 | -3.5% | 5.0% |
| Q1 26 | 1.9% | — | ||
| Q4 25 | — | -3.2% | ||
| Q3 25 | -0.6% | -1.9% | ||
| Q2 25 | -2.7% | -0.8% | ||
| Q1 25 | -2.1% | 0.0% | ||
| Q4 24 | — | 13.2% | ||
| Q3 24 | 0.2% | 2.2% | ||
| Q2 24 | 2.3% | 2.3% |
| Q1 26 | $-0.08 | — | ||
| Q4 25 | $-0.10 | $-0.22 | ||
| Q3 25 | $-0.04 | $-0.13 | ||
| Q2 25 | $-0.16 | $-0.05 | ||
| Q1 25 | $-0.13 | $0.00 | ||
| Q4 24 | $0.27 | $0.76 | ||
| Q3 24 | $0.01 | $0.14 | ||
| Q2 24 | $-0.17 | $0.18 |
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 | $1.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.7M | $240.7M |
| Total Assets | $984.2M | $563.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | — | ||
| Q4 25 | $111.3M | $1.5M | ||
| Q3 25 | $80.4M | $1.2M | ||
| Q2 25 | $68.1M | $206.0K | ||
| Q1 25 | $41.7M | $183.0K | ||
| Q4 24 | $83.8M | $206.0K | ||
| Q3 24 | $79.9M | $178.0K | ||
| Q2 24 | $76.4M | $314.0K |
| Q1 26 | $405.7M | — | ||
| Q4 25 | $400.0M | $240.7M | ||
| Q3 25 | $392.7M | $244.8M | ||
| Q2 25 | $384.5M | $246.8M | ||
| Q1 25 | $345.4M | $250.0M | ||
| Q4 24 | $312.5M | $251.8M | ||
| Q3 24 | $336.6M | $238.4M | ||
| Q2 24 | $307.4M | $238.1M |
| Q1 26 | $984.2M | — | ||
| Q4 25 | $1.1B | $563.6M | ||
| Q3 25 | $1.0B | $585.6M | ||
| Q2 25 | $1.0B | $433.7M | ||
| Q1 25 | $964.4M | $447.7M | ||
| Q4 24 | $989.2M | $445.6M | ||
| Q3 24 | $1.0B | $466.0M | ||
| Q2 24 | $1.0B | $488.2M |
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 | — | $13.4M |
| Free Cash FlowOCF − Capex | $-1.0M | $10.2M |
| FCF MarginFCF / Revenue | -0.5% | 7.6% |
| Capex IntensityCapex / Revenue | — | 2.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $26.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $38.6M | $13.4M | ||
| Q3 25 | $22.2M | $1.9M | ||
| Q2 25 | $31.7M | $15.0M | ||
| Q1 25 | $-3.1M | $8.3M | ||
| Q4 24 | $36.5M | $38.0M | ||
| Q3 24 | $20.5M | $17.9M | ||
| Q2 24 | $24.4M | $23.3M |
| Q1 26 | $-1.0M | — | ||
| Q4 25 | — | $10.2M | ||
| Q3 25 | — | $-1.1M | ||
| Q2 25 | — | $12.5M | ||
| Q1 25 | — | $5.4M | ||
| Q4 24 | — | $35.6M | ||
| Q3 24 | — | $15.1M | ||
| Q2 24 | — | $19.2M |
| Q1 26 | -0.5% | — | ||
| Q4 25 | — | 7.6% | ||
| Q3 25 | — | -0.8% | ||
| Q2 25 | — | 9.5% | ||
| Q1 25 | — | 4.0% | ||
| Q4 24 | — | 29.4% | ||
| Q3 24 | — | 11.1% | ||
| Q2 24 | — | 11.7% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.4% | ||
| Q3 25 | — | 2.1% | ||
| Q2 25 | — | 1.8% | ||
| Q1 25 | — | 2.2% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 2.1% | ||
| Q2 24 | — | 2.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 416.65× | ||
| Q4 24 | — | 2.38× | ||
| Q3 24 | 49.55× | 6.03× | ||
| Q2 24 | 6.03× | 6.15× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAND
Segment breakdown not available.
MEC
| Fabrication | $72.2M | 54% |
| Construction And Access | $19.2M | 14% |
| Tubes | $16.2M | 12% |
| Other Market | $11.9M | 9% |
| Agriculture | $7.7M | 6% |
| Military | $6.7M | 5% |
| Outdoor Sports | $1.7M | 1% |
