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Side-by-side financial comparison of Bandwidth Inc. (BAND) and Natural Grocers by Vitamin Cottage, Inc. (NGVC). Click either name above to swap in a different company.
Natural Grocers by Vitamin Cottage, Inc. is the larger business by last-quarter revenue ($335.6M vs $208.8M, roughly 1.6× Bandwidth Inc.). Natural Grocers by Vitamin Cottage, Inc. runs the higher net margin — 3.4% vs 1.9%, a 1.5% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 1.6%). Natural Grocers by Vitamin Cottage, Inc. produced more free cash flow last quarter ($11.6M vs $-1.0M). Over the past eight quarters, Bandwidth Inc.'s revenue compounded faster (9.7% CAGR vs 4.4%).
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.
Natural Grocers by Vitamin Cottage, Inc. is a U.S.-based specialty retail chain that offers certified organic groceries, dietary supplements, natural personal care items, and eco-friendly household products. It serves health-conscious consumers across multiple U.S. states, following strict quality standards that exclude artificial preservatives, colors, flavors and harmful additives.
BAND vs NGVC — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $335.6M |
| Net Profit | $4.0M | $11.3M |
| Gross Margin | 37.3% | 29.5% |
| Operating Margin | 60.5% | 4.4% |
| Net Margin | 1.9% | 3.4% |
| Revenue YoY | 20.1% | 1.6% |
| Net Profit YoY | 200.0% | 14.0% |
| EPS (diluted) | $-0.08 | $0.49 |
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 | $335.6M | ||
| Q3 25 | $191.9M | $336.1M | ||
| Q2 25 | $180.0M | $328.7M | ||
| Q1 25 | $174.2M | $335.8M | ||
| Q4 24 | $210.0M | $330.2M | ||
| Q3 24 | $193.9M | $322.7M | ||
| Q2 24 | $173.6M | $309.1M |
| Q1 26 | $4.0M | — | ||
| Q4 25 | — | $11.3M | ||
| Q3 25 | $-1.2M | $11.8M | ||
| Q2 25 | $-4.9M | $11.6M | ||
| Q1 25 | $-3.7M | $13.1M | ||
| Q4 24 | — | $9.9M | ||
| Q3 24 | $413.0K | $9.0M | ||
| Q2 24 | $4.1M | $9.2M |
| Q1 26 | 37.3% | — | ||
| Q4 25 | 37.6% | 29.5% | ||
| Q3 25 | 38.5% | 29.5% | ||
| Q2 25 | 39.8% | 29.9% | ||
| Q1 25 | 41.0% | 30.3% | ||
| Q4 24 | 36.4% | 29.9% | ||
| Q3 24 | 37.7% | 29.6% | ||
| Q2 24 | 37.3% | 29.2% |
| Q1 26 | 60.5% | — | ||
| Q4 25 | -1.9% | 4.4% | ||
| Q3 25 | -1.0% | 4.6% | ||
| Q2 25 | -2.1% | 4.7% | ||
| Q1 25 | -2.7% | 5.2% | ||
| Q4 24 | -1.3% | 4.0% | ||
| Q3 24 | -0.5% | 3.7% | ||
| Q2 24 | -3.5% | 4.2% |
| Q1 26 | 1.9% | — | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | -0.6% | 3.5% | ||
| Q2 25 | -2.7% | 3.5% | ||
| Q1 25 | -2.1% | 3.9% | ||
| Q4 24 | — | 3.0% | ||
| Q3 24 | 0.2% | 2.8% | ||
| Q2 24 | 2.3% | 3.0% |
| Q1 26 | $-0.08 | — | ||
| Q4 25 | $-0.10 | $0.49 | ||
| Q3 25 | $-0.04 | $0.51 | ||
| Q2 25 | $-0.16 | $0.50 | ||
| Q1 25 | $-0.13 | $0.56 | ||
| Q4 24 | $0.27 | $0.43 | ||
| Q3 24 | $0.01 | $0.38 | ||
| Q2 24 | $-0.17 | $0.40 |
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 | $23.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.7M | $220.0M |
| Total Assets | $984.2M | $668.6M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | — | ||
| Q4 25 | $111.3M | $23.2M | ||
| Q3 25 | $80.4M | $17.1M | ||
| Q2 25 | $68.1M | $13.2M | ||
| Q1 25 | $41.7M | $21.2M | ||
| Q4 24 | $83.8M | $6.3M | ||
| Q3 24 | $79.9M | $8.9M | ||
| Q2 24 | $76.4M | $13.9M |
| Q1 26 | $405.7M | — | ||
| Q4 25 | $400.0M | $220.0M | ||
| Q3 25 | $392.7M | $212.4M | ||
| Q2 25 | $384.5M | $202.5M | ||
| Q1 25 | $345.4M | $193.0M | ||
| Q4 24 | $312.5M | $181.9M | ||
| Q3 24 | $336.6M | $174.3M | ||
| Q2 24 | $307.4M | $167.8M |
| Q1 26 | $984.2M | — | ||
| Q4 25 | $1.1B | $668.6M | ||
| Q3 25 | $1.0B | $670.5M | ||
| Q2 25 | $1.0B | $659.0M | ||
| Q1 25 | $964.4M | $664.6M | ||
| Q4 24 | $989.2M | $648.9M | ||
| Q3 24 | $1.0B | $655.5M | ||
| Q2 24 | $1.0B | $654.4M |
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 | — | $21.1M |
| Free Cash FlowOCF − Capex | $-1.0M | $11.6M |
| FCF MarginFCF / Revenue | -0.5% | 3.4% |
| Capex IntensityCapex / Revenue | — | 2.9% |
| Cash ConversionOCF / Net Profit | — | 1.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | $42.6M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $38.6M | $21.1M | ||
| Q3 25 | $22.2M | $15.6M | ||
| Q2 25 | $31.7M | $2.9M | ||
| Q1 25 | $-3.1M | $34.1M | ||
| Q4 24 | $36.5M | $2.7M | ||
| Q3 24 | $20.5M | $24.5M | ||
| Q2 24 | $24.4M | $12.4M |
| Q1 26 | $-1.0M | — | ||
| Q4 25 | — | $11.6M | ||
| Q3 25 | — | $7.5M | ||
| Q2 25 | — | $-4.2M | ||
| Q1 25 | — | $27.6M | ||
| Q4 24 | — | $-6.9M | ||
| Q3 24 | — | $18.0M | ||
| Q2 24 | — | $3.6M |
| Q1 26 | -0.5% | — | ||
| Q4 25 | — | 3.4% | ||
| Q3 25 | — | 2.2% | ||
| Q2 25 | — | -1.3% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | -2.1% | ||
| Q3 24 | — | 5.6% | ||
| Q2 24 | — | 1.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.9% | ||
| Q3 25 | — | 2.4% | ||
| Q2 25 | — | 2.2% | ||
| Q1 25 | — | 1.9% | ||
| Q4 24 | — | 2.9% | ||
| Q3 24 | — | 2.0% | ||
| Q2 24 | — | 2.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 1.86× | ||
| Q3 25 | — | 1.32× | ||
| Q2 25 | — | 0.25× | ||
| Q1 25 | — | 2.60× | ||
| Q4 24 | — | 0.27× | ||
| Q3 24 | 49.55× | 2.72× | ||
| Q2 24 | 6.03× | 1.35× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAND
Segment breakdown not available.
NGVC
| Grocery | $243.8M | 73% |
| Dietary Supplements | $60.7M | 18% |
| Manufactured Product Other | $31.0M | 9% |
