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Side-by-side financial comparison of FREQUENCY ELECTRONICS INC (FEIM) and Spire Global, Inc. (SPIR). Click either name above to swap in a different company.
FREQUENCY ELECTRONICS INC is the larger business by last-quarter revenue ($17.1M vs $15.8M, roughly 1.1× Spire Global, Inc.). FREQUENCY ELECTRONICS INC runs the higher net margin — 10.5% vs -176.6%, a 187.1% gap on every dollar of revenue. On growth, FREQUENCY ELECTRONICS INC posted the faster year-over-year revenue change (8.3% vs -26.9%). FREQUENCY ELECTRONICS INC produced more free cash flow last quarter ($-1.1M vs $-16.2M). Over the past eight quarters, FREQUENCY ELECTRONICS INC's revenue compounded faster (11.8% CAGR vs -32.6%).
Ultra Electronics Holdings is a British defence and security company. It was listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until it was acquired by Cobham, which is itself owned by Advent International.
Spire Global, Inc. is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites, such as the tracking of maritime, aviation and weather patterns.
FEIM vs SPIR — Head-to-Head
Income Statement — Q2 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $17.1M | $15.8M |
| Net Profit | $1.8M | $-28.0M |
| Gross Margin | 38.2% | 40.2% |
| Operating Margin | 10.0% | -164.1% |
| Net Margin | 10.5% | -176.6% |
| Revenue YoY | 8.3% | -26.9% |
| Net Profit YoY | -32.1% | 42.7% |
| EPS (diluted) | $0.18 | $-0.85 |
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 | $17.1M | $15.8M | ||
| Q3 25 | $13.8M | $12.7M | ||
| Q2 25 | $20.0M | $19.2M | ||
| Q1 25 | $18.9M | $23.9M | ||
| Q4 24 | $15.8M | $21.7M | ||
| Q3 24 | $15.1M | $28.6M | ||
| Q2 24 | $15.6M | $25.4M | ||
| Q1 24 | $13.7M | $34.8M |
| Q4 25 | $1.8M | $-28.0M | ||
| Q3 25 | $634.0K | $-19.7M | ||
| Q2 25 | $3.2M | $119.6M | ||
| Q1 25 | $15.4M | $-20.7M | ||
| Q4 24 | $2.7M | $-48.8M | ||
| Q3 24 | $2.4M | $-12.5M | ||
| Q2 24 | $2.6M | $-16.6M | ||
| Q1 24 | $130.0K | $-25.5M |
| Q4 25 | 38.2% | 40.2% | ||
| Q3 25 | 36.8% | 36.6% | ||
| Q2 25 | 37.5% | 48.9% | ||
| Q1 25 | 43.8% | 36.8% | ||
| Q4 24 | 48.2% | 32.4% | ||
| Q3 24 | 44.4% | 44.5% | ||
| Q2 24 | 40.3% | 43.0% | ||
| Q1 24 | 22.6% | 26.5% |
| Q4 25 | 10.0% | -164.1% | ||
| Q3 25 | 2.6% | -166.1% | ||
| Q2 25 | 16.4% | -122.7% | ||
| Q1 25 | 18.3% | -106.5% | ||
| Q4 24 | 16.5% | -144.1% | ||
| Q3 24 | 15.7% | -48.0% | ||
| Q2 24 | 16.0% | -48.6% | ||
| Q1 24 | -3.4% | -34.4% |
| Q4 25 | 10.5% | -176.6% | ||
| Q3 25 | 4.6% | -155.3% | ||
| Q2 25 | 16.0% | 623.4% | ||
| Q1 25 | 81.4% | -86.5% | ||
| Q4 24 | 16.8% | -225.2% | ||
| Q3 24 | 16.1% | -43.7% | ||
| Q2 24 | 16.9% | -65.2% | ||
| Q1 24 | 0.9% | -73.3% |
| Q4 25 | $0.18 | $-0.85 | ||
| Q3 25 | $0.07 | $-0.61 | ||
| Q2 25 | $0.33 | $3.72 | ||
| Q1 25 | $1.60 | $-0.77 | ||
| Q4 24 | $0.28 | $-1.93 | ||
| Q3 24 | $0.25 | $-0.50 | ||
| Q2 24 | $0.28 | $-0.68 | ||
| Q1 24 | $0.01 | $-1.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.0M | $81.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $58.5M | $112.9M |
| Total Assets | $92.3M | $211.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $3.0M | $81.8M | ||
| Q3 25 | $4.5M | $96.8M | ||
| Q2 25 | $4.7M | $117.6M | ||
| Q1 25 | $5.5M | $35.9M | ||
| Q4 24 | $9.7M | $19.2M | ||
| Q3 24 | $16.2M | $36.6M | ||
| Q2 24 | $18.3M | $45.8M | ||
| Q1 24 | $11.7M | $63.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | — | $103.1M | ||
| Q3 24 | — | $4.9M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $123.1M |
| Q4 25 | $58.5M | $112.9M | ||
| Q3 25 | $56.3M | $133.1M | ||
| Q2 25 | $55.6M | $149.2M | ||
| Q1 25 | $51.8M | $3.7M | ||
| Q4 24 | $36.2M | $-11.7M | ||
| Q3 24 | $33.2M | $30.8M | ||
| Q2 24 | $39.8M | $40.3M | ||
| Q1 24 | $36.7M | $52.5M |
| Q4 25 | $92.3M | $211.0M | ||
| Q3 25 | $93.2M | $224.3M | ||
| Q2 25 | $93.7M | $239.5M | ||
| Q1 25 | $86.4M | $208.8M | ||
| Q4 24 | $77.8M | $193.6M | ||
| Q3 24 | $84.3M | $224.2M | ||
| Q2 24 | $83.3M | $230.8M | ||
| Q1 24 | $77.7M | $252.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 27.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 2.35× |
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 | $-523.0K | $-4.3M |
| Free Cash FlowOCF − Capex | $-1.1M | $-16.2M |
| FCF MarginFCF / Revenue | -6.6% | -102.1% |
| Capex IntensityCapex / Revenue | 3.6% | 75.1% |
| Cash ConversionOCF / Net Profit | -0.29× | — |
| TTM Free Cash FlowTrailing 4 quarters | $-5.5M | $-92.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-523.0K | $-4.3M | ||
| Q3 25 | $1.2M | $-12.0M | ||
| Q2 25 | $-155.0K | $-35.1M | ||
| Q1 25 | $-3.6M | $-8.4M | ||
| Q4 24 | $3.8M | $-19.2M | ||
| Q3 24 | $-1.5M | $14.0M | ||
| Q2 24 | $7.5M | $-4.4M | ||
| Q1 24 | $4.2M | $-8.8M |
| Q4 25 | $-1.1M | $-16.2M | ||
| Q3 25 | $385.0K | $-20.4M | ||
| Q2 25 | $-786.0K | $-38.7M | ||
| Q1 25 | $-4.0M | $-17.3M | ||
| Q4 24 | $3.3M | $-24.3M | ||
| Q3 24 | $-1.8M | $5.1M | ||
| Q2 24 | $6.7M | $-9.9M | ||
| Q1 24 | $3.9M | $-15.9M |
| Q4 25 | -6.6% | -102.1% | ||
| Q3 25 | 2.8% | -161.3% | ||
| Q2 25 | -3.9% | -201.7% | ||
| Q1 25 | -20.9% | -72.6% | ||
| Q4 24 | 20.8% | -112.2% | ||
| Q3 24 | -11.8% | 17.8% | ||
| Q2 24 | 42.8% | -39.0% | ||
| Q1 24 | 28.4% | -45.7% |
| Q4 25 | 3.6% | 75.1% | ||
| Q3 25 | 5.6% | 66.2% | ||
| Q2 25 | 3.2% | 18.8% | ||
| Q1 25 | 1.7% | 37.3% | ||
| Q4 24 | 3.3% | 23.5% | ||
| Q3 24 | 2.2% | 31.2% | ||
| Q2 24 | 5.3% | 21.8% | ||
| Q1 24 | 2.3% | 20.3% |
| Q4 25 | -0.29× | — | ||
| Q3 25 | 1.83× | — | ||
| Q2 25 | -0.05× | -0.29× | ||
| Q1 25 | -0.24× | — | ||
| Q4 24 | 1.44× | — | ||
| Q3 24 | -0.60× | — | ||
| Q2 24 | 2.85× | — | ||
| Q1 24 | 32.36× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
FEIM
| POC Revenue | $14.8M | 86% |
| POT Revenue | $2.3M | 13% |
SPIR
Segment breakdown not available.
