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Side-by-side financial comparison of Bandwidth Inc. (BAND) and Palomar Holdings, Inc. (PLMR). Click either name above to swap in a different company.
Palomar Holdings, Inc. is the larger business by last-quarter revenue ($253.4M vs $207.7M, roughly 1.2× Bandwidth Inc.). On growth, Palomar Holdings, Inc. posted the faster year-over-year revenue change (62.7% vs -1.1%). Over the past eight quarters, Palomar Holdings, Inc.'s revenue compounded faster (46.2% CAGR vs 10.2%).
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.
Palomar Holdings, Inc. is a specialty insurance holding company that primarily provides property insurance products for catastrophe-exposed residential and commercial assets. It mainly operates across the United States, focusing on core segments including earthquake, flood, and windstorm coverage to meet high-risk property protection demands of customers.
BAND vs PLMR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $207.7M | $253.4M |
| Net Profit | — | — |
| Gross Margin | 37.6% | — |
| Operating Margin | -1.9% | 28.7% |
| Net Margin | — | — |
| Revenue YoY | -1.1% | 62.7% |
| Net Profit YoY | — | — |
| EPS (diluted) | $-0.10 | $2.05 |
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 | $253.4M | ||
| Q3 25 | $191.9M | $244.7M | ||
| Q2 25 | $180.0M | $203.3M | ||
| Q1 25 | $174.2M | $174.6M | ||
| Q4 24 | $210.0M | $155.8M | ||
| Q3 24 | $193.9M | $148.5M | ||
| Q2 24 | $173.6M | $131.1M | ||
| Q1 24 | $171.0M | $118.5M |
| Q4 25 | — | — | ||
| Q3 25 | $-1.2M | $51.5M | ||
| Q2 25 | $-4.9M | $46.5M | ||
| Q1 25 | $-3.7M | $42.9M | ||
| Q4 24 | — | — | ||
| Q3 24 | $413.0K | $30.5M | ||
| Q2 24 | $4.1M | $25.7M | ||
| Q1 24 | $-9.2M | $26.4M |
| 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 24 | 38.3% | — |
| Q4 25 | -1.9% | 28.7% | ||
| Q3 25 | -1.0% | 27.4% | ||
| Q2 25 | -2.1% | 29.5% | ||
| Q1 25 | -2.7% | 30.8% | ||
| Q4 24 | -1.3% | 28.9% | ||
| Q3 24 | -0.5% | 25.9% | ||
| Q2 24 | -3.5% | 25.5% | ||
| Q1 24 | -6.1% | 29.0% |
| Q4 25 | — | — | ||
| Q3 25 | -0.6% | 21.0% | ||
| Q2 25 | -2.7% | 22.9% | ||
| Q1 25 | -2.1% | 24.6% | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.2% | 20.5% | ||
| Q2 24 | 2.3% | 19.6% | ||
| Q1 24 | -5.4% | 22.3% |
| Q4 25 | $-0.10 | $2.05 | ||
| Q3 25 | $-0.04 | $1.87 | ||
| Q2 25 | $-0.16 | $1.68 | ||
| Q1 25 | $-0.13 | $1.57 | ||
| Q4 24 | $0.27 | $1.29 | ||
| Q3 24 | $0.01 | $1.15 | ||
| Q2 24 | $-0.17 | $1.00 | ||
| Q1 24 | $-0.35 | $1.04 |
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 | $106.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $400.0M | $942.7M |
| Total Assets | $1.1B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $111.3M | $106.9M | ||
| Q3 25 | $80.4M | $111.7M | ||
| Q2 25 | $68.1M | $81.3M | ||
| Q1 25 | $41.7M | $119.3M | ||
| Q4 24 | $83.8M | $80.4M | ||
| Q3 24 | $79.9M | $86.5M | ||
| Q2 24 | $76.4M | $47.8M | ||
| Q1 24 | $147.2M | $61.4M |
| Q4 25 | $400.0M | $942.7M | ||
| Q3 25 | $392.7M | $878.1M | ||
| Q2 25 | $384.5M | $847.2M | ||
| Q1 25 | $345.4M | $790.4M | ||
| Q4 24 | $312.5M | $729.0M | ||
| Q3 24 | $336.6M | $703.3M | ||
| Q2 24 | $307.4M | $532.6M | ||
| Q1 24 | $298.2M | $501.7M |
| Q4 25 | $1.1B | $3.1B | ||
| Q3 25 | $1.0B | $2.9B | ||
| Q2 25 | $1.0B | $2.8B | ||
| Q1 25 | $964.4M | $2.4B | ||
| Q4 24 | $989.2M | $2.3B | ||
| Q3 24 | $1.0B | $2.3B | ||
| Q2 24 | $1.0B | $2.0B | ||
| Q1 24 | $1.1B | $1.9B |
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 | $409.1M |
| Free Cash FlowOCF − Capex | — | $409.0M |
| FCF MarginFCF / Revenue | — | 161.4% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $700.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $38.6M | $409.1M | ||
| Q3 25 | $22.2M | $83.6M | ||
| Q2 25 | $31.7M | $120.9M | ||
| Q1 25 | $-3.1M | $87.2M | ||
| Q4 24 | $36.5M | $261.2M | ||
| Q3 24 | $20.5M | $100.3M | ||
| Q2 24 | $24.4M | $55.1M | ||
| Q1 24 | $2.5M | $33.1M |
| Q4 25 | — | $409.0M | ||
| Q3 25 | — | $83.6M | ||
| Q2 25 | — | $120.8M | ||
| Q1 25 | — | $87.1M | ||
| Q4 24 | — | $260.9M | ||
| Q3 24 | — | $100.1M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 161.4% | ||
| Q3 25 | — | 34.2% | ||
| Q2 25 | — | 59.4% | ||
| Q1 25 | — | 49.9% | ||
| Q4 24 | — | 167.5% | ||
| Q3 24 | — | 67.4% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.1% | ||
| Q3 25 | — | 0.0% | ||
| Q2 25 | — | 0.0% | ||
| Q1 25 | — | 0.0% | ||
| Q4 24 | — | 0.2% | ||
| Q3 24 | — | 0.1% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | — | — | ||
| Q3 25 | — | 1.63× | ||
| Q2 25 | — | 2.60× | ||
| Q1 25 | — | 2.03× | ||
| Q4 24 | — | — | ||
| Q3 24 | 49.55× | 3.29× | ||
| Q2 24 | 6.03× | 2.14× | ||
| Q1 24 | — | 1.26× |
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% |
PLMR
Segment breakdown not available.
