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Side-by-side financial comparison of Bandwidth Inc. (BAND) and New Fortress Energy Inc. (NFE). Click either name above to swap in a different company.
New Fortress Energy Inc. is the larger business by last-quarter revenue ($326.2M vs $207.7M, roughly 1.6× Bandwidth Inc.). On growth, Bandwidth Inc. posted the faster year-over-year revenue change (-1.1% vs -7.0%). Over the past eight quarters, Bandwidth Inc.'s revenue compounded faster (10.2% CAGR vs -26.8%).
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.
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
BAND vs NFE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $207.7M | $326.2M |
| Net Profit | — | $-847.1M |
| Gross Margin | 37.6% | 35.5% |
| Operating Margin | -1.9% | -193.0% |
| Net Margin | — | -259.7% |
| Revenue YoY | -1.1% | -7.0% |
| Net Profit YoY | — | -277.4% |
| EPS (diluted) | $-0.10 | $-3.03 |
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 | $207.7M | $326.2M | ||
| Q3 25 | $191.9M | $240.3M | ||
| Q2 25 | $180.0M | $228.1M | ||
| Q1 25 | $174.2M | $384.9M | ||
| Q4 24 | $210.0M | $350.7M | ||
| Q3 24 | $193.9M | $446.0M | ||
| Q2 24 | $173.6M | $291.2M | ||
| Q1 24 | $171.0M | $609.5M |
| Q4 25 | — | $-847.1M | ||
| Q3 25 | $-1.2M | $-263.0M | ||
| Q2 25 | $-4.9M | $-546.5M | ||
| Q1 25 | $-3.7M | $-175.4M | ||
| Q4 24 | — | $-224.4M | ||
| Q3 24 | $413.0K | $9.3M | ||
| Q2 24 | $4.1M | $-88.9M | ||
| Q1 24 | $-9.2M | $54.1M |
| Q4 25 | 37.6% | 35.5% | ||
| Q3 25 | 38.5% | 18.1% | ||
| Q2 25 | 39.8% | 8.4% | ||
| Q1 25 | 41.0% | 21.4% | ||
| Q4 24 | 36.4% | 17.6% | ||
| Q3 24 | 37.7% | 27.1% | ||
| Q2 24 | 37.3% | 23.8% | ||
| Q1 24 | 38.3% | 62.4% |
| Q4 25 | -1.9% | -193.0% | ||
| Q3 25 | -1.0% | -37.4% | ||
| Q2 25 | -2.1% | -170.3% | ||
| Q1 25 | -2.7% | -3.3% | ||
| Q4 24 | -1.3% | 65.0% | ||
| Q3 24 | -0.5% | 17.8% | ||
| Q2 24 | -3.5% | 12.3% | ||
| Q1 24 | -6.1% | 30.4% |
| Q4 25 | — | -259.7% | ||
| Q3 25 | -0.6% | -109.4% | ||
| Q2 25 | -2.7% | -239.6% | ||
| Q1 25 | -2.1% | -45.6% | ||
| Q4 24 | — | -64.0% | ||
| Q3 24 | 0.2% | 2.1% | ||
| Q2 24 | 2.3% | -30.5% | ||
| Q1 24 | -5.4% | 8.9% |
| Q4 25 | $-0.10 | $-3.03 | ||
| Q3 25 | $-0.04 | $-0.96 | ||
| Q2 25 | $-0.16 | $-1.99 | ||
| Q1 25 | $-0.13 | $-0.65 | ||
| Q4 24 | $0.27 | $-1.10 | ||
| Q3 24 | $0.01 | $0.03 | ||
| Q2 24 | $-0.17 | $-0.42 | ||
| Q1 24 | $-0.35 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $111.3M | $226.5M |
| Total DebtLower is stronger | — | $8.2B |
| Stockholders' EquityBook value | $400.0M | $182.6M |
| Total Assets | $1.1B | $10.6B |
| Debt / EquityLower = less leverage | — | 44.78× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $111.3M | $226.5M | ||
| Q3 25 | $80.4M | $145.2M | ||
| Q2 25 | $68.1M | $551.1M | ||
| Q1 25 | $41.7M | $447.9M | ||
| Q4 24 | $83.8M | $492.9M | ||
| Q3 24 | $79.9M | $90.8M | ||
| Q2 24 | $76.4M | $133.0M | ||
| Q1 24 | $147.2M | $143.5M |
| Q4 25 | — | $8.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $400.0M | $182.6M | ||
| Q3 25 | $392.7M | $1.1B | ||
| Q2 25 | $384.5M | $1.3B | ||
| Q1 25 | $345.4M | $1.8B | ||
| Q4 24 | $312.5M | $1.9B | ||
| Q3 24 | $336.6M | $1.6B | ||
| Q2 24 | $307.4M | $1.6B | ||
| Q1 24 | $298.2M | $1.7B |
| Q4 25 | $1.1B | $10.6B | ||
| Q3 25 | $1.0B | $12.0B | ||
| Q2 25 | $1.0B | $12.0B | ||
| Q1 25 | $964.4M | $13.1B | ||
| Q4 24 | $989.2M | $12.9B | ||
| Q3 24 | $1.0B | $12.0B | ||
| Q2 24 | $1.0B | $11.4B | ||
| Q1 24 | $1.1B | $10.9B |
| Q4 25 | — | 44.78× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 4.74× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 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 | $38.6M | $-76.2M |
| Free Cash FlowOCF − Capex | — | $-134.8M |
| FCF MarginFCF / Revenue | — | -41.3% |
| Capex IntensityCapex / Revenue | — | 18.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.6M | $-76.2M | ||
| Q3 25 | $22.2M | $-171.0M | ||
| Q2 25 | $31.7M | $-329.0M | ||
| Q1 25 | $-3.1M | $-7.2M | ||
| Q4 24 | $36.5M | $445.3M | ||
| Q3 24 | $20.5M | $-20.0M | ||
| Q2 24 | $24.4M | $113.9M | ||
| Q1 24 | $2.5M | $63.0M |
| Q4 25 | — | $-134.8M | ||
| Q3 25 | — | $-231.6M | ||
| Q2 25 | — | $-726.7M | ||
| Q1 25 | — | $-262.3M | ||
| Q4 24 | — | $-210.3M | ||
| Q3 24 | — | $-367.0M | ||
| Q2 24 | — | $-493.2M | ||
| Q1 24 | — | $-457.9M |
| Q4 25 | — | -41.3% | ||
| Q3 25 | — | -96.4% | ||
| Q2 25 | — | -318.6% | ||
| Q1 25 | — | -68.2% | ||
| Q4 24 | — | -60.0% | ||
| Q3 24 | — | -82.3% | ||
| Q2 24 | — | -169.3% | ||
| Q1 24 | — | -75.1% |
| Q4 25 | — | 18.0% | ||
| Q3 25 | — | 25.2% | ||
| Q2 25 | — | 174.4% | ||
| Q1 25 | — | 66.3% | ||
| Q4 24 | — | 187.0% | ||
| Q3 24 | — | 77.8% | ||
| Q2 24 | — | 208.4% | ||
| Q1 24 | — | 85.5% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 49.55× | -2.15× | ||
| Q2 24 | 6.03× | — | ||
| Q1 24 | — | 1.16× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAND
| Messaging Surcharges | $192.4M | 93% |
| Other | $15.2M | 7% |
NFE
Segment breakdown not available.
