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Side-by-side financial comparison of Bandwidth Inc. (BAND) and Mistras Group, Inc. (MG). Click either name above to swap in a different company.
Bandwidth Inc. is the larger business by last-quarter revenue ($208.8M vs $181.5M, roughly 1.2× Mistras Group, Inc.). Mistras Group, Inc. runs the higher net margin — 2.1% vs 1.9%, a 0.2% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 5.1%). Mistras Group, Inc. produced more free cash flow last quarter ($26.0M vs $-1.0M). Over the past eight quarters, Bandwidth Inc.'s revenue compounded faster (9.7% CAGR vs -0.8%).
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.
Mistras Group, Inc. is a global provider of asset integrity and protection solutions, offering non-destructive testing, inspection, real-time monitoring, and engineering consulting services. Its key client segments include oil and gas, aerospace, power generation, and manufacturing industries, with operations spanning North America, Europe, and Asia-Pacific, helping clients enhance operational safety, extend asset lifespans, and minimize unplanned downtime.
BAND vs MG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $181.5M |
| Net Profit | $4.0M | $3.8M |
| Gross Margin | 37.3% | 28.4% |
| Operating Margin | 60.5% | 7.0% |
| Net Margin | 1.9% | 2.1% |
| Revenue YoY | 20.1% | 5.1% |
| Net Profit YoY | 200.0% | -27.4% |
| EPS (diluted) | $-0.08 | $0.12 |
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 | $181.5M | ||
| Q3 25 | $191.9M | $195.5M | ||
| Q2 25 | $180.0M | $185.4M | ||
| Q1 25 | $174.2M | $161.6M | ||
| Q4 24 | $210.0M | $172.7M | ||
| Q3 24 | $193.9M | $182.7M | ||
| Q2 24 | $173.6M | $189.8M |
| Q1 26 | $4.0M | — | ||
| Q4 25 | — | $3.8M | ||
| Q3 25 | $-1.2M | $13.1M | ||
| Q2 25 | $-4.9M | $3.0M | ||
| Q1 25 | $-3.7M | $-3.2M | ||
| Q4 24 | — | $5.2M | ||
| Q3 24 | $413.0K | $6.4M | ||
| Q2 24 | $4.1M | $6.4M |
| Q1 26 | 37.3% | — | ||
| Q4 25 | 37.6% | 28.4% | ||
| Q3 25 | 38.5% | 29.8% | ||
| Q2 25 | 39.8% | 29.1% | ||
| Q1 25 | 41.0% | 25.3% | ||
| Q4 24 | 36.4% | 26.5% | ||
| Q3 24 | 37.7% | 26.8% | ||
| Q2 24 | 37.3% | 27.1% |
| Q1 26 | 60.5% | — | ||
| Q4 25 | -1.9% | 7.0% | ||
| Q3 25 | -1.0% | 10.4% | ||
| Q2 25 | -2.1% | 4.5% | ||
| Q1 25 | -2.7% | -0.6% | ||
| Q4 24 | -1.3% | 6.1% | ||
| Q3 24 | -0.5% | 6.5% | ||
| Q2 24 | -3.5% | 6.3% |
| Q1 26 | 1.9% | — | ||
| Q4 25 | — | 2.1% | ||
| Q3 25 | -0.6% | 6.7% | ||
| Q2 25 | -2.7% | 1.6% | ||
| Q1 25 | -2.1% | -2.0% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | 0.2% | 3.5% | ||
| Q2 24 | 2.3% | 3.4% |
| Q1 26 | $-0.08 | — | ||
| Q4 25 | $-0.10 | $0.12 | ||
| Q3 25 | $-0.04 | $0.41 | ||
| Q2 25 | $-0.16 | $0.10 | ||
| Q1 25 | $-0.13 | $-0.10 | ||
| Q4 24 | $0.27 | $0.17 | ||
| Q3 24 | $0.01 | $0.20 | ||
| Q2 24 | $-0.17 | $0.20 |
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 | $28.0M |
| Total DebtLower is stronger | — | $178.0M |
| Stockholders' EquityBook value | $405.7M | $235.1M |
| Total Assets | $984.2M | $578.8M |
| Debt / EquityLower = less leverage | — | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | — | ||
| Q4 25 | $111.3M | $28.0M | ||
| Q3 25 | $80.4M | $27.8M | ||
| Q2 25 | $68.1M | $20.0M | ||
| Q1 25 | $41.7M | $18.5M | ||
| Q4 24 | $83.8M | $18.3M | ||
| Q3 24 | $79.9M | $20.4M | ||
| Q2 24 | $76.4M | $17.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | $178.0M | ||
| Q3 25 | — | $202.3M | ||
| Q2 25 | — | $189.4M | ||
| Q1 25 | — | $171.9M | ||
| Q4 24 | — | $169.6M | ||
| Q3 24 | — | $189.7M | ||
| Q2 24 | — | $199.7M |
| Q1 26 | $405.7M | — | ||
| Q4 25 | $400.0M | $235.1M | ||
| Q3 25 | $392.7M | $227.4M | ||
| Q2 25 | $384.5M | $215.8M | ||
| Q1 25 | $345.4M | $198.7M | ||
| Q4 24 | $312.5M | $198.6M | ||
| Q3 24 | $336.6M | $205.2M | ||
| Q2 24 | $307.4M | $193.2M |
| Q1 26 | $984.2M | — | ||
| Q4 25 | $1.1B | $578.8M | ||
| Q3 25 | $1.0B | $596.3M | ||
| Q2 25 | $1.0B | $571.0M | ||
| Q1 25 | $964.4M | $526.8M | ||
| Q4 24 | $989.2M | $523.0M | ||
| Q3 24 | $1.0B | $551.7M | ||
| Q2 24 | $1.0B | $548.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.76× | ||
| Q3 25 | — | 0.89× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | — | 0.85× | ||
| Q3 24 | — | 0.92× | ||
| Q2 24 | — | 1.03× |
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 | — | $32.1M |
| Free Cash FlowOCF − Capex | $-1.0M | $26.0M |
| FCF MarginFCF / Revenue | -0.5% | 14.3% |
| Capex IntensityCapex / Revenue | — | 3.4% |
| Cash ConversionOCF / Net Profit | — | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $38.6M | $32.1M | ||
| Q3 25 | $22.2M | $4.5M | ||
| Q2 25 | $31.7M | $-9.3M | ||
| Q1 25 | $-3.1M | $5.6M | ||
| Q4 24 | $36.5M | $25.7M | ||
| Q3 24 | $20.5M | $19.4M | ||
| Q2 24 | $24.4M | $4.5M |
| Q1 26 | $-1.0M | — | ||
| Q4 25 | — | $26.0M | ||
| Q3 25 | — | $-4.1M | ||
| Q2 25 | — | $-14.7M | ||
| Q1 25 | — | $1.1M | ||
| Q4 24 | — | $22.1M | ||
| Q3 24 | — | $14.6M | ||
| Q2 24 | — | $-284.0K |
| Q1 26 | -0.5% | — | ||
| Q4 25 | — | 14.3% | ||
| Q3 25 | — | -2.1% | ||
| Q2 25 | — | -7.9% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 12.8% | ||
| Q3 24 | — | 8.0% | ||
| Q2 24 | — | -0.1% |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 4.4% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 2.8% | ||
| Q4 24 | — | 2.1% | ||
| Q3 24 | — | 2.6% | ||
| Q2 24 | — | 2.5% |
| Q1 26 | — | — | ||
| Q4 25 | — | 8.55× | ||
| Q3 25 | — | 0.34× | ||
| Q2 25 | — | -3.07× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.96× | ||
| Q3 24 | 49.55× | 3.02× | ||
| Q2 24 | 6.03× | 0.71× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
