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Side-by-side financial comparison of Black Stone Minerals, L.P. (BSM) and INSEEGO CORP. (INSG). Click either name above to swap in a different company.
Black Stone Minerals, L.P. is the larger business by last-quarter revenue ($95.2M vs $48.4M, roughly 2.0× INSEEGO CORP.). Black Stone Minerals, L.P. runs the higher net margin — 75.9% vs 1.0%, a 74.9% gap on every dollar of revenue. On growth, INSEEGO CORP. posted the faster year-over-year revenue change (0.6% vs -8.7%). Over the past eight quarters, INSEEGO CORP.'s revenue compounded faster (13.6% CAGR vs -9.7%).
Black Stone Minerals, L.P., or Black Stone Minerals, is a Houston, Texas-based oil and natural gas corporation.
Inseego Corp designs, manufactures and delivers advanced 5G and IoT solutions including mobile hotspots, edge computing devices, and cloud-based device management platforms. It primarily serves telecom operators, enterprise clients, and public sector customers across global markets.
BSM vs INSG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $95.2M | $48.4M |
| Net Profit | $72.2M | $469.0K |
| Gross Margin | — | 42.2% |
| Operating Margin | 78.6% | 2.7% |
| Net Margin | 75.9% | 1.0% |
| Revenue YoY | -8.7% | 0.6% |
| Net Profit YoY | 55.8% | 182.9% |
| EPS (diluted) | — | $-0.02 |
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 | $95.2M | $48.4M | ||
| Q3 25 | $105.2M | $45.9M | ||
| Q2 25 | $106.7M | $40.2M | ||
| Q1 25 | $115.3M | $31.7M | ||
| Q4 24 | $104.3M | $48.1M | ||
| Q3 24 | $103.2M | $54.0M | ||
| Q2 24 | $115.2M | $51.6M | ||
| Q1 24 | $116.8M | $37.5M |
| Q4 25 | $72.2M | $469.0K | ||
| Q3 25 | $91.7M | $1.4M | ||
| Q2 25 | $120.0M | $507.0K | ||
| Q1 25 | $15.9M | $-1.6M | ||
| Q4 24 | $46.3M | $-566.0K | ||
| Q3 24 | $92.7M | $9.0M | ||
| Q2 24 | $68.3M | $624.0K | ||
| Q1 24 | $63.9M | $-4.5M |
| Q4 25 | — | 42.2% | ||
| Q3 25 | — | 41.6% | ||
| Q2 25 | — | 41.1% | ||
| Q1 25 | — | 47.3% | ||
| Q4 24 | — | 37.3% | ||
| Q3 24 | — | 34.8% | ||
| Q2 24 | — | 36.4% | ||
| Q1 24 | — | 35.3% |
| Q4 25 | 78.6% | 2.7% | ||
| Q3 25 | 89.5% | 4.7% | ||
| Q2 25 | — | 3.2% | ||
| Q1 25 | 14.9% | -1.3% | ||
| Q4 24 | 45.6% | 3.7% | ||
| Q3 24 | 90.2% | 1.9% | ||
| Q2 24 | 59.5% | 3.6% | ||
| Q1 24 | 54.8% | -7.9% |
| Q4 25 | 75.9% | 1.0% | ||
| Q3 25 | 87.2% | 3.1% | ||
| Q2 25 | 112.5% | 1.3% | ||
| Q1 25 | 13.8% | -5.0% | ||
| Q4 24 | 44.4% | -1.2% | ||
| Q3 24 | 89.9% | 16.6% | ||
| Q2 24 | 59.3% | 1.2% | ||
| Q1 24 | 54.7% | -11.9% |
| Q4 25 | — | $-0.02 | ||
| Q3 25 | — | $0.03 | ||
| Q2 25 | — | $-0.03 | ||
| Q1 25 | — | $-0.16 | ||
| Q4 24 | — | $0.62 | ||
| Q3 24 | — | $-0.06 | ||
| Q2 24 | — | $-0.02 | ||
| Q1 24 | — | $-0.44 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.5M | $24.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $-4.0M |
| Total Assets | $1.3B | $93.8M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.5M | $24.9M | ||
| Q3 25 | $2.9M | $14.6M | ||
| Q2 25 | $2.5M | $13.2M | ||
| Q1 25 | $2.4M | $35.1M | ||
| Q4 24 | $2.5M | $39.6M | ||
| Q3 24 | $21.0M | $12.0M | ||
| Q2 24 | $26.7M | $49.0M | ||
| Q1 24 | $40.5M | $12.3M |
| Q4 25 | — | $-4.0M | ||
| Q3 25 | — | $-7.7M | ||
| Q2 25 | — | $-10.5M | ||
| Q1 25 | — | $-13.0M | ||
| Q4 24 | — | $-12.9M | ||
| Q3 24 | — | $-85.1M | ||
| Q2 24 | — | $-101.8M | ||
| Q1 24 | — | $-105.6M |
| Q4 25 | $1.3B | $93.8M | ||
| Q3 25 | $1.3B | $85.8M | ||
| Q2 25 | $1.3B | $83.1M | ||
| Q1 25 | $1.2B | $93.0M | ||
| Q4 24 | $1.2B | $100.0M | ||
| Q3 24 | $1.2B | $113.4M | ||
| Q2 24 | $1.2B | $149.6M | ||
| Q1 24 | $1.2B | $122.1M |
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 | $65.1M | $12.0M |
| Free Cash FlowOCF − Capex | — | $11.6M |
| FCF MarginFCF / Revenue | — | 24.0% |
| Capex IntensityCapex / Revenue | — | 0.7% |
| Cash ConversionOCF / Net Profit | 0.90× | 25.50× |
| TTM Free Cash FlowTrailing 4 quarters | — | $6.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $65.1M | $12.0M | ||
| Q3 25 | $99.8M | $3.2M | ||
| Q2 25 | $80.5M | $-4.5M | ||
| Q1 25 | $64.8M | $-3.5M | ||
| Q4 24 | $91.0M | $-14.2M | ||
| Q3 24 | $93.2M | $14.8M | ||
| Q2 24 | $100.4M | $27.6M | ||
| Q1 24 | $104.5M | $5.2M |
| Q4 25 | — | $11.6M | ||
| Q3 25 | — | $3.1M | ||
| Q2 25 | — | $-4.7M | ||
| Q1 25 | — | $-3.5M | ||
| Q4 24 | — | $-14.3M | ||
| Q3 24 | — | $14.8M | ||
| Q2 24 | — | $27.6M | ||
| Q1 24 | — | — |
| Q4 25 | — | 24.0% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | -11.6% | ||
| Q1 25 | — | -11.0% | ||
| Q4 24 | — | -29.7% | ||
| Q3 24 | — | 27.4% | ||
| Q2 24 | — | 53.5% | ||
| Q1 24 | — | — |
| Q4 25 | — | 0.7% | ||
| Q3 25 | — | 0.2% | ||
| Q2 25 | — | 0.5% | ||
| Q1 25 | — | 0.1% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.0% |
| Q4 25 | 0.90× | 25.50× | ||
| Q3 25 | 1.09× | 2.22× | ||
| Q2 25 | 0.67× | -8.81× | ||
| Q1 25 | 4.07× | — | ||
| Q4 24 | 1.96× | — | ||
| Q3 24 | 1.01× | 1.65× | ||
| Q2 24 | 1.47× | 44.31× | ||
| Q1 24 | 1.63× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BSM
| Oil Reserves | $46.4M | 49% |
| Natural Gas Reserves | $44.1M | 46% |
| Real Estate | $4.7M | 5% |
INSG
Segment breakdown not available.
