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Side-by-side financial comparison of Bandwidth Inc. (BAND) and NNN REIT, INC. (NNN). Click either name above to swap in a different company.
NNN REIT, INC. is the larger business by last-quarter revenue ($240.4M vs $208.8M, roughly 1.2× Bandwidth Inc.). NNN REIT, INC. runs the higher net margin — 39.1% vs 1.9%, a 37.2% gap on every dollar of revenue. On growth, Bandwidth Inc. posted the faster year-over-year revenue change (20.1% vs 4.1%). Over the past eight quarters, Bandwidth Inc.'s revenue compounded faster (9.7% CAGR vs 5.3%).
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.
NNN Reit, Inc. is a real estate investment trust that invests primarily in restaurant properties that are subject to long-term triple net leases, usually under leaseback arrangements. It is organized in Maryland with its principal office in Orlando, Florida.
BAND vs NNN — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $240.4M |
| Net Profit | $4.0M | $94.0M |
| Gross Margin | 37.3% | — |
| Operating Margin | 60.5% | 61.0% |
| Net Margin | 1.9% | 39.1% |
| Revenue YoY | 20.1% | 4.1% |
| Net Profit YoY | 200.0% | -2.6% |
| EPS (diluted) | $-0.08 | $0.50 |
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 | $240.4M | ||
| Q4 25 | $207.7M | $238.4M | ||
| Q3 25 | $191.9M | $230.2M | ||
| Q2 25 | $180.0M | $226.8M | ||
| Q1 25 | $174.2M | $230.9M | ||
| Q4 24 | $210.0M | $218.5M | ||
| Q3 24 | $193.9M | $218.6M | ||
| Q2 24 | $173.6M | $216.8M |
| Q1 26 | $4.0M | $94.0M | ||
| Q4 25 | — | $96.0M | ||
| Q3 25 | $-1.2M | $96.8M | ||
| Q2 25 | $-4.9M | $100.5M | ||
| Q1 25 | $-3.7M | $96.5M | ||
| Q4 24 | — | $97.9M | ||
| Q3 24 | $413.0K | $97.9M | ||
| Q2 24 | $4.1M | $106.7M |
| 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% | 61.0% | ||
| Q4 25 | -1.9% | 62.3% | ||
| Q3 25 | -1.0% | 64.0% | ||
| Q2 25 | -2.1% | 66.0% | ||
| Q1 25 | -2.7% | 62.3% | ||
| Q4 24 | -1.3% | 65.8% | ||
| Q3 24 | -0.5% | 65.7% | ||
| Q2 24 | -3.5% | 70.2% |
| Q1 26 | 1.9% | 39.1% | ||
| Q4 25 | — | 40.2% | ||
| Q3 25 | -0.6% | 42.1% | ||
| Q2 25 | -2.7% | 44.3% | ||
| Q1 25 | -2.1% | 41.8% | ||
| Q4 24 | — | 44.8% | ||
| Q3 24 | 0.2% | 44.8% | ||
| Q2 24 | 2.3% | 49.2% |
| Q1 26 | $-0.08 | $0.50 | ||
| Q4 25 | $-0.10 | $0.51 | ||
| Q3 25 | $-0.04 | $0.51 | ||
| Q2 25 | $-0.16 | $0.54 | ||
| Q1 25 | $-0.13 | $0.51 | ||
| Q4 24 | $0.27 | $0.52 | ||
| Q3 24 | $0.01 | $0.53 | ||
| Q2 24 | $-0.17 | $0.58 |
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 | $4.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $405.7M | $4.4B |
| Total Assets | $984.2M | $9.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | $4.6M | ||
| Q4 25 | $111.3M | $5.0M | ||
| Q3 25 | $80.4M | $157.9M | ||
| Q2 25 | $68.1M | $6.0M | ||
| Q1 25 | $41.7M | $5.1M | ||
| Q4 24 | $83.8M | $8.7M | ||
| Q3 24 | $79.9M | $173.5M | ||
| Q2 24 | $76.4M | $2.1M |
| Q1 26 | $405.7M | $4.4B | ||
| Q4 25 | $400.0M | $4.4B | ||
| Q3 25 | $392.7M | $4.4B | ||
| Q2 25 | $384.5M | $4.4B | ||
| Q1 25 | $345.4M | $4.4B | ||
| Q4 24 | $312.5M | $4.4B | ||
| Q3 24 | $336.6M | $4.4B | ||
| Q2 24 | $307.4M | $4.2B |
| Q1 26 | $984.2M | $9.4B | ||
| Q4 25 | $1.1B | $9.4B | ||
| Q3 25 | $1.0B | $9.5B | ||
| Q2 25 | $1.0B | $9.1B | ||
| Q1 25 | $964.4M | $9.0B | ||
| Q4 24 | $989.2M | $8.9B | ||
| Q3 24 | $1.0B | $8.9B | ||
| Q2 24 | $1.0B | $8.7B |
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 | — | — |
| Free Cash FlowOCF − Capex | $-1.0M | — |
| FCF MarginFCF / Revenue | -0.5% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $38.6M | $667.1M | ||
| Q3 25 | $22.2M | $218.3M | ||
| Q2 25 | $31.7M | $119.4M | ||
| Q1 25 | $-3.1M | $203.3M | ||
| Q4 24 | $36.5M | $635.5M | ||
| Q3 24 | $20.5M | $206.6M | ||
| Q2 24 | $24.4M | $120.5M |
| Q1 26 | $-1.0M | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | -0.5% | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.95× | ||
| Q3 25 | — | 2.25× | ||
| Q2 25 | — | 1.19× | ||
| Q1 25 | — | 2.11× | ||
| Q4 24 | — | 6.49× | ||
| Q3 24 | 49.55× | 2.11× | ||
| Q2 24 | 6.03× | 1.13× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
