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Side-by-side financial comparison of Bandwidth Inc. (BAND) and Pangaea Logistics Solutions Ltd. (PANL). Click either name above to swap in a different company.
Bandwidth Inc. is the larger business by last-quarter revenue ($208.8M vs $183.9M, roughly 1.1× Pangaea Logistics Solutions Ltd.). Pangaea Logistics Solutions Ltd. runs the higher net margin — 6.5% vs 1.9%, a 4.5% gap on every dollar of revenue. On growth, Pangaea Logistics Solutions Ltd. posted the faster year-over-year revenue change (24.9% vs 20.1%). Over the past eight quarters, Pangaea Logistics Solutions Ltd.'s revenue compounded faster (32.5% CAGR vs 9.7%).
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.
Pangaea Logistics Solutions Ltd. is a global dry bulk logistics and shipping service provider. It operates a modern fleet of dry bulk vessels to transport a wide range of commodities including grains, minerals, construction materials, and energy-related raw materials, serving industrial, agricultural, and energy sector clients across North America, Europe, and Asia with tailored end-to-end bulk cargo supply chain solutions.
BAND vs PANL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $208.8M | $183.9M |
| Net Profit | $4.0M | $11.9M |
| Gross Margin | 37.3% | — |
| Operating Margin | 60.5% | 9.5% |
| Net Margin | 1.9% | 6.5% |
| Revenue YoY | 20.1% | 24.9% |
| Net Profit YoY | 200.0% | 40.9% |
| EPS (diluted) | $-0.08 | $0.18 |
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 | $183.9M | ||
| Q3 25 | $191.9M | $168.7M | ||
| Q2 25 | $180.0M | $156.7M | ||
| Q1 25 | $174.2M | $122.8M | ||
| Q4 24 | $210.0M | $147.2M | ||
| Q3 24 | $193.9M | $153.1M | ||
| Q2 24 | $173.6M | $131.5M |
| Q1 26 | $4.0M | — | ||
| Q4 25 | — | $11.9M | ||
| Q3 25 | $-1.2M | $12.2M | ||
| Q2 25 | $-4.9M | $-2.7M | ||
| Q1 25 | $-3.7M | $-2.0M | ||
| Q4 24 | — | $8.4M | ||
| Q3 24 | $413.0K | $5.1M | ||
| Q2 24 | $4.1M | $3.7M |
| 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% | — | ||
| Q4 25 | -1.9% | 9.5% | ||
| Q3 25 | -1.0% | 10.0% | ||
| Q2 25 | -2.1% | 2.3% | ||
| Q1 25 | -2.7% | 2.4% | ||
| Q4 24 | -1.3% | 10.1% | ||
| Q3 24 | -0.5% | 9.8% | ||
| Q2 24 | -3.5% | 5.8% |
| Q1 26 | 1.9% | — | ||
| Q4 25 | — | 6.5% | ||
| Q3 25 | -0.6% | 7.2% | ||
| Q2 25 | -2.7% | -1.8% | ||
| Q1 25 | -2.1% | -1.6% | ||
| Q4 24 | — | 5.7% | ||
| Q3 24 | 0.2% | 3.3% | ||
| Q2 24 | 2.3% | 2.8% |
| Q1 26 | $-0.08 | — | ||
| Q4 25 | $-0.10 | $0.18 | ||
| Q3 25 | $-0.04 | $0.19 | ||
| Q2 25 | $-0.16 | $-0.04 | ||
| Q1 25 | $-0.13 | $-0.03 | ||
| Q4 24 | $0.27 | $0.19 | ||
| Q3 24 | $0.01 | $0.11 | ||
| Q2 24 | $-0.17 | $0.08 |
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 | $103.1M |
| Total DebtLower is stronger | — | $249.6M |
| Stockholders' EquityBook value | $405.7M | $429.3M |
| Total Assets | $984.2M | $928.1M |
| Debt / EquityLower = less leverage | — | 0.58× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $47.3M | — | ||
| Q4 25 | $111.3M | $103.1M | ||
| Q3 25 | $80.4M | $94.0M | ||
| Q2 25 | $68.1M | $59.3M | ||
| Q1 25 | $41.7M | $63.9M | ||
| Q4 24 | $83.8M | $86.8M | ||
| Q3 24 | $79.9M | $93.1M | ||
| Q2 24 | $76.4M | $77.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | $249.6M | ||
| Q3 25 | — | $256.2M | ||
| Q2 25 | — | $244.7M | ||
| Q1 25 | — | $251.0M | ||
| Q4 24 | — | $257.2M | ||
| Q3 24 | — | $133.6M | ||
| Q2 24 | — | $90.5M |
| Q1 26 | $405.7M | — | ||
| Q4 25 | $400.0M | $429.3M | ||
| Q3 25 | $392.7M | $420.3M | ||
| Q2 25 | $384.5M | $414.4M | ||
| Q1 25 | $345.4M | $420.8M | ||
| Q4 24 | $312.5M | $427.8M | ||
| Q3 24 | $336.6M | $332.6M | ||
| Q2 24 | $307.4M | $331.5M |
| Q1 26 | $984.2M | — | ||
| Q4 25 | $1.1B | $928.1M | ||
| Q3 25 | $1.0B | $932.1M | ||
| Q2 25 | $1.0B | $916.0M | ||
| Q1 25 | $964.4M | $918.0M | ||
| Q4 24 | $989.2M | $936.5M | ||
| Q3 24 | $1.0B | $749.2M | ||
| Q2 24 | $1.0B | $692.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 0.58× | ||
| Q3 25 | — | 0.61× | ||
| Q2 25 | — | 0.59× | ||
| Q1 25 | — | 0.60× | ||
| Q4 24 | — | 0.60× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.27× |
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 | — | $15.1M |
| Free Cash FlowOCF − Capex | $-1.0M | — |
| FCF MarginFCF / Revenue | -0.5% | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | — | 1.27× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $38.6M | $15.1M | ||
| Q3 25 | $22.2M | $28.6M | ||
| Q2 25 | $31.7M | $14.4M | ||
| Q1 25 | $-3.1M | $-4.4M | ||
| Q4 24 | $36.5M | $19.3M | ||
| Q3 24 | $20.5M | $28.5M | ||
| Q2 24 | $24.4M | $9.0M |
| 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 | — | 1.27× | ||
| Q3 25 | — | 2.34× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 2.29× | ||
| Q3 24 | 49.55× | 5.57× | ||
| Q2 24 | 6.03× | 2.43× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BAND
Segment breakdown not available.
PANL
| Voyage | $166.3M | 90% |
| Charter | $13.1M | 7% |
| Terminal Stevedore Revenue | $4.4M | 2% |
