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Side-by-side financial comparison of INNOVATIVE INDUSTRIAL PROPERTIES INC (IIPR) and INSEEGO CORP. (INSG). Click either name above to swap in a different company.

INNOVATIVE INDUSTRIAL PROPERTIES INC is the larger business by last-quarter revenue ($66.7M vs $48.4M, roughly 1.4× INSEEGO CORP.). INNOVATIVE INDUSTRIAL PROPERTIES INC runs the higher net margin — 47.8% vs 1.0%, a 46.8% gap on every dollar of revenue. On growth, INSEEGO CORP. posted the faster year-over-year revenue change (0.6% vs -13.1%). Over the past eight quarters, INSEEGO CORP.'s revenue compounded faster (13.6% CAGR vs -6.0%).

Oxford Properties is a Canadian multinational corporation, with operations in real estate investment, development and property management. Its portfolio includes office, retail, industrial, multi-residential, life sciences and hotel assets. Established privately in 1960 and later wholly owned by the Ontario Municipal Employees Retirement System (OMERS) since 2003, the company is headquartered in Toronto with regional head offices in New York City, London, Australia, Singapore and Luxembourg. ...

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.

IIPR vs INSG — Head-to-Head

Bigger by revenue
IIPR
IIPR
1.4× larger
IIPR
$66.7M
$48.4M
INSG
Growing faster (revenue YoY)
INSG
INSG
+13.8% gap
INSG
0.6%
-13.1%
IIPR
Higher net margin
IIPR
IIPR
46.8% more per $
IIPR
47.8%
1.0%
INSG
Faster 2-yr revenue CAGR
INSG
INSG
Annualised
INSG
13.6%
-6.0%
IIPR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
IIPR
IIPR
INSG
INSG
Revenue
$66.7M
$48.4M
Net Profit
$31.8M
$469.0K
Gross Margin
42.2%
Operating Margin
47.8%
2.7%
Net Margin
47.8%
1.0%
Revenue YoY
-13.1%
0.6%
Net Profit YoY
-20.4%
182.9%
EPS (diluted)
$1.07
$-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.

Revenue
IIPR
IIPR
INSG
INSG
Q4 25
$66.7M
$48.4M
Q3 25
$64.7M
$45.9M
Q2 25
$62.9M
$40.2M
Q1 25
$71.7M
$31.7M
Q4 24
$76.7M
$48.1M
Q3 24
$76.5M
$54.0M
Q2 24
$79.8M
$51.6M
Q1 24
$75.5M
$37.5M
Net Profit
IIPR
IIPR
INSG
INSG
Q4 25
$31.8M
$469.0K
Q3 25
$29.3M
$1.4M
Q2 25
$26.0M
$507.0K
Q1 25
$31.1M
$-1.6M
Q4 24
$40.0M
$-566.0K
Q3 24
$40.2M
$9.0M
Q2 24
$42.0M
$624.0K
Q1 24
$39.4M
$-4.5M
Gross Margin
IIPR
IIPR
INSG
INSG
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%
Operating Margin
IIPR
IIPR
INSG
INSG
Q4 25
47.8%
2.7%
Q3 25
45.5%
4.7%
Q2 25
45.9%
3.2%
Q1 25
47.4%
-1.3%
Q4 24
54.7%
3.7%
Q3 24
54.8%
1.9%
Q2 24
53.1%
3.6%
Q1 24
55.7%
-7.9%
Net Margin
IIPR
IIPR
INSG
INSG
Q4 25
47.8%
1.0%
Q3 25
45.3%
3.1%
Q2 25
41.4%
1.3%
Q1 25
43.3%
-5.0%
Q4 24
52.2%
-1.2%
Q3 24
52.6%
16.6%
Q2 24
52.6%
1.2%
Q1 24
52.3%
-11.9%
EPS (diluted)
IIPR
IIPR
INSG
INSG
Q4 25
$1.07
$-0.02
Q3 25
$0.97
$0.03
Q2 25
$0.86
$-0.03
Q1 25
$1.03
$-0.16
Q4 24
$1.35
$0.62
Q3 24
$1.37
$-0.06
Q2 24
$1.44
$-0.02
Q1 24
$1.36
$-0.44

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
IIPR
IIPR
INSG
INSG
Cash + ST InvestmentsLiquidity on hand
$47.6M
$24.9M
Total DebtLower is stronger
$393.7M
Stockholders' EquityBook value
$1.8B
$-4.0M
Total Assets
$2.4B
$93.8M
Debt / EquityLower = less leverage
0.21×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IIPR
IIPR
INSG
INSG
Q4 25
$47.6M
$24.9M
Q3 25
$41.9M
$14.6M
Q2 25
$104.9M
$13.2M
Q1 25
$133.3M
$35.1M
Q4 24
$151.2M
$39.6M
Q3 24
$172.4M
$12.0M
Q2 24
$160.9M
$49.0M
Q1 24
$173.5M
$12.3M
Total Debt
IIPR
IIPR
INSG
INSG
Q4 25
$393.7M
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24
Stockholders' Equity
IIPR
IIPR
INSG
INSG
Q4 25
$1.8B
$-4.0M
Q3 25
$1.9B
$-7.7M
Q2 25
$1.9B
$-10.5M
Q1 25
$1.9B
$-13.0M
Q4 24
$1.9B
$-12.9M
Q3 24
$1.9B
$-85.1M
Q2 24
$1.9B
$-101.8M
Q1 24
$2.0B
$-105.6M
Total Assets
IIPR
IIPR
INSG
INSG
Q4 25
$2.4B
$93.8M
Q3 25
$2.3B
$85.8M
Q2 25
$2.3B
$83.1M
Q1 25
$2.4B
$93.0M
Q4 24
$2.4B
$100.0M
Q3 24
$2.4B
$113.4M
Q2 24
$2.4B
$149.6M
Q1 24
$2.4B
$122.1M
Debt / Equity
IIPR
IIPR
INSG
INSG
Q4 25
0.21×
Q3 25
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Cash Flow & Capital Efficiency

How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.

Metric
IIPR
IIPR
INSG
INSG
Operating Cash FlowLast quarter
$198.2M
$12.0M
Free Cash FlowOCF − Capex
$11.6M
FCF MarginFCF / Revenue
24.0%
Capex IntensityCapex / Revenue
0.7%
Cash ConversionOCF / Net Profit
6.22×
25.50×
TTM Free Cash FlowTrailing 4 quarters
$6.5M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IIPR
IIPR
INSG
INSG
Q4 25
$198.2M
$12.0M
Q3 25
$45.6M
$3.2M
Q2 25
$48.4M
$-4.5M
Q1 25
$54.2M
$-3.5M
Q4 24
$258.4M
$-14.2M
Q3 24
$64.9M
$14.8M
Q2 24
$64.2M
$27.6M
Q1 24
$71.6M
$5.2M
Free Cash Flow
IIPR
IIPR
INSG
INSG
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
FCF Margin
IIPR
IIPR
INSG
INSG
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
Capex Intensity
IIPR
IIPR
INSG
INSG
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%
Cash Conversion
IIPR
IIPR
INSG
INSG
Q4 25
6.22×
25.50×
Q3 25
1.56×
2.22×
Q2 25
1.86×
-8.81×
Q1 25
1.75×
Q4 24
6.46×
Q3 24
1.61×
1.65×
Q2 24
1.53×
44.31×
Q1 24
1.82×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

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