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Side-by-side financial comparison of H2O AMERICA (HTO) and MAGNITE, INC. (MGNI). Click either name above to swap in a different company.
H2O AMERICA is the larger business by last-quarter revenue ($199.4M vs $164.4M, roughly 1.2× MAGNITE, INC.). H2O AMERICA runs the higher net margin — 8.1% vs 2.7%, a 5.5% gap on every dollar of revenue. On growth, MAGNITE, INC. posted the faster year-over-year revenue change (6.0% vs 1.5%). Over the past eight quarters, H2O AMERICA's revenue compounded faster (15.3% CAGR vs 0.5%).
H2O Wireless is a United States-based prepaid cell phone service, that utilizes the AT&T network. It is a brand of the mobile virtual network operator (MVNO) Locus Telecommunications, a subsidiary of Telrite Holdings, Inc., since 2019. Locus was formerly a subsidiary of KDDI America corporation, starting in 2010. H2O Wireless is primarily advertised as a non-restrictive phone service for customers to bring or buy unlocked smartphones, although AT&T contract/locked phones may be accepted as well.
Magnite Inc. is an American online advertising technology firm based in Los Angeles, California. The company was formed following a merger between Rubicon Project and Telaria in 2020.
HTO vs MGNI — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $199.4M | $164.4M |
| Net Profit | $16.2M | $4.4M |
| Gross Margin | — | 63.3% |
| Operating Margin | 16.6% | — |
| Net Margin | 8.1% | 2.7% |
| Revenue YoY | 1.5% | 6.0% |
| Net Profit YoY | -29.2% | 145.8% |
| EPS (diluted) | $0.45 | $0.03 |
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 | — | $164.4M | ||
| Q4 25 | $199.4M | $205.4M | ||
| Q3 25 | $243.5M | $179.5M | ||
| Q2 25 | $197.8M | $173.3M | ||
| Q1 25 | $164.9M | $155.8M | ||
| Q4 24 | $196.5M | $194.0M | ||
| Q3 24 | $216.7M | $162.0M | ||
| Q2 24 | $173.1M | $162.9M |
| Q1 26 | — | $4.4M | ||
| Q4 25 | $16.2M | $123.0M | ||
| Q3 25 | $45.1M | $20.1M | ||
| Q2 25 | $24.7M | $11.1M | ||
| Q1 25 | $16.6M | $-9.6M | ||
| Q4 24 | $22.9M | $36.4M | ||
| Q3 24 | $38.7M | $5.2M | ||
| Q2 24 | $20.7M | $-1.1M |
| Q1 26 | — | 63.3% | ||
| Q4 25 | — | 66.2% | ||
| Q3 25 | — | 61.4% | ||
| Q2 25 | — | 62.5% | ||
| Q1 25 | — | 59.7% | ||
| Q4 24 | — | 65.1% | ||
| Q3 24 | — | 61.4% | ||
| Q2 24 | — | 61.6% |
| Q1 26 | — | — | ||
| Q4 25 | 16.6% | 25.3% | ||
| Q3 25 | 26.5% | 14.0% | ||
| Q2 25 | 22.2% | 12.7% | ||
| Q1 25 | 21.8% | -0.9% | ||
| Q4 24 | 22.2% | 20.7% | ||
| Q3 24 | 26.9% | 9.3% | ||
| Q2 24 | 23.4% | 5.9% |
| Q1 26 | — | 2.7% | ||
| Q4 25 | 8.1% | 59.9% | ||
| Q3 25 | 18.5% | 11.2% | ||
| Q2 25 | 12.5% | 6.4% | ||
| Q1 25 | 10.0% | -6.2% | ||
| Q4 24 | 11.7% | 18.8% | ||
| Q3 24 | 17.8% | 3.2% | ||
| Q2 24 | 12.0% | -0.7% |
| Q1 26 | — | $0.03 | ||
| Q4 25 | $0.45 | $0.81 | ||
| Q3 25 | $1.27 | $0.13 | ||
| Q2 25 | $0.71 | $0.08 | ||
| Q1 25 | $0.49 | $-0.07 | ||
| Q4 24 | $0.70 | $0.26 | ||
| Q3 24 | $1.17 | $0.04 | ||
| Q2 24 | $0.64 | $-0.01 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $20.7M | $184.6M |
| Total DebtLower is stronger | $1.9B | — |
| Stockholders' EquityBook value | $1.5B | $917.9M |
| Total Assets | $5.1B | $2.9B |
| Debt / EquityLower = less leverage | 1.23× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $184.6M | ||
| Q4 25 | $20.7M | $553.4M | ||
| Q3 25 | $11.3M | $482.1M | ||
| Q2 25 | $19.8M | $426.0M | ||
| Q1 25 | $23.7M | $429.7M | ||
| Q4 24 | $11.1M | $483.2M | ||
| Q3 24 | $4.0M | $387.2M | ||
| Q2 24 | $22.8M | $326.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.9B | $556.1M | ||
| Q3 25 | — | $556.3M | ||
| Q2 25 | — | $556.4M | ||
| Q1 25 | — | $556.6M | ||
| Q4 24 | $1.7B | $553.7M | ||
| Q3 24 | — | $553.8M | ||
| Q2 24 | — | $552.7M |
| Q1 26 | — | $917.9M | ||
| Q4 25 | $1.5B | $922.4M | ||
| Q3 25 | $1.5B | $808.0M | ||
| Q2 25 | $1.5B | $768.5M | ||
| Q1 25 | $1.4B | $741.8M | ||
| Q4 24 | $1.4B | $768.2M | ||
| Q3 24 | $1.3B | $725.9M | ||
| Q2 24 | $1.3B | $713.0M |
| Q1 26 | — | $2.9B | ||
| Q4 25 | $5.1B | $3.2B | ||
| Q3 25 | $5.0B | $2.9B | ||
| Q2 25 | $4.8B | $2.9B | ||
| Q1 25 | $4.7B | $2.7B | ||
| Q4 24 | $4.7B | $2.9B | ||
| Q3 24 | $4.6B | $2.7B | ||
| Q2 24 | $4.4B | $2.6B |
| Q1 26 | — | — | ||
| Q4 25 | 1.23× | 0.60× | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 1.26× | 0.72× | ||
| Q3 24 | — | 0.76× | ||
| Q2 24 | — | 0.78× |
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 | $63.5M | — |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 3.92× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $63.5M | $128.5M | ||
| Q3 25 | $77.3M | $86.6M | ||
| Q2 25 | $60.8M | $18.5M | ||
| Q1 25 | $43.2M | $2.6M | ||
| Q4 24 | $41.5M | $114.7M | ||
| Q3 24 | $53.5M | $91.3M | ||
| Q2 24 | $49.3M | $89.6M |
| Q1 26 | — | — | ||
| Q4 25 | — | $103.1M | ||
| Q3 25 | — | $68.4M | ||
| Q2 25 | — | $6.0M | ||
| Q1 25 | — | $-11.8M | ||
| Q4 24 | — | $111.0M | ||
| Q3 24 | — | $77.3M | ||
| Q2 24 | — | $80.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 50.2% | ||
| Q3 25 | — | 38.1% | ||
| Q2 25 | — | 3.5% | ||
| Q1 25 | — | -7.6% | ||
| Q4 24 | — | 57.2% | ||
| Q3 24 | — | 47.7% | ||
| Q2 24 | — | 49.4% |
| Q1 26 | — | — | ||
| Q4 25 | — | 12.4% | ||
| Q3 25 | — | 10.2% | ||
| Q2 25 | — | 7.2% | ||
| Q1 25 | — | 9.2% | ||
| Q4 24 | — | 1.9% | ||
| Q3 24 | — | 8.7% | ||
| Q2 24 | — | 5.6% |
| Q1 26 | — | — | ||
| Q4 25 | 3.92× | 1.04× | ||
| Q3 25 | 1.71× | 4.32× | ||
| Q2 25 | 2.47× | 1.66× | ||
| Q1 25 | 2.61× | — | ||
| Q4 24 | 1.81× | 3.15× | ||
| Q3 24 | 1.39× | 17.52× | ||
| Q2 24 | 2.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HTO
| Water Utility Services | $191.0M | 96% |
| Other | $8.4M | 4% |
MGNI
Segment breakdown not available.
