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Side-by-side financial comparison of INSEEGO CORP. (INSG) and MARAVAI LIFESCIENCES HOLDINGS, INC. (MRVI). Click either name above to swap in a different company.
MARAVAI LIFESCIENCES HOLDINGS, INC. is the larger business by last-quarter revenue ($49.9M vs $48.4M, roughly 1.0× INSEEGO CORP.). INSEEGO CORP. runs the higher net margin — 1.0% vs -71.6%, a 72.5% gap on every dollar of revenue. On growth, INSEEGO CORP. posted the faster year-over-year revenue change (0.6% vs -11.8%). INSEEGO CORP. produced more free cash flow last quarter ($11.6M vs $-24.9M). Over the past eight quarters, INSEEGO CORP.'s revenue compounded faster (13.6% CAGR vs -11.9%).
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.
Maravai LifeSciences Holdings is a global life sciences firm developing critical reagents, diagnostic products, and tech solutions to support biopharma research, drug development, clinical diagnostics, and cell/gene therapy manufacturing. It serves biotech, pharma, research bodies and labs worldwide across three core segments.
INSG vs MRVI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $48.4M | $49.9M |
| Net Profit | $469.0K | $-35.7M |
| Gross Margin | 42.2% | 25.8% |
| Operating Margin | 2.7% | -117.9% |
| Net Margin | 1.0% | -71.6% |
| Revenue YoY | 0.6% | -11.8% |
| Net Profit YoY | 182.9% | -37.7% |
| EPS (diluted) | $-0.02 | $-0.24 |
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 | $48.4M | $49.9M | ||
| Q3 25 | $45.9M | $41.6M | ||
| Q2 25 | $40.2M | $47.4M | ||
| Q1 25 | $31.7M | $46.9M | ||
| Q4 24 | $48.1M | $56.6M | ||
| Q3 24 | $54.0M | $69.0M | ||
| Q2 24 | $51.6M | $69.4M | ||
| Q1 24 | $37.5M | $64.2M |
| Q4 25 | $469.0K | $-35.7M | ||
| Q3 25 | $1.4M | $-25.6M | ||
| Q2 25 | $507.0K | $-39.6M | ||
| Q1 25 | $-1.6M | $-29.9M | ||
| Q4 24 | $-566.0K | $-25.9M | ||
| Q3 24 | $9.0M | $-97.1M | ||
| Q2 24 | $624.0K | $-9.8M | ||
| Q1 24 | $-4.5M | $-12.1M |
| Q4 25 | 42.2% | 25.8% | ||
| Q3 25 | 41.6% | 13.6% | ||
| Q2 25 | 41.1% | 16.4% | ||
| Q1 25 | 47.3% | 16.5% | ||
| Q4 24 | 37.3% | 34.3% | ||
| Q3 24 | 34.8% | 46.7% | ||
| Q2 24 | 36.4% | 44.4% | ||
| Q1 24 | 35.3% | 40.3% |
| Q4 25 | 2.7% | -117.9% | ||
| Q3 25 | 4.7% | -98.6% | ||
| Q2 25 | 3.2% | -139.8% | ||
| Q1 25 | -1.3% | -104.9% | ||
| Q4 24 | 3.7% | -66.7% | ||
| Q3 24 | 1.9% | -239.9% | ||
| Q2 24 | 3.6% | -19.4% | ||
| Q1 24 | -7.9% | -29.4% |
| Q4 25 | 1.0% | -71.6% | ||
| Q3 25 | 3.1% | -61.4% | ||
| Q2 25 | 1.3% | -83.5% | ||
| Q1 25 | -5.0% | -63.9% | ||
| Q4 24 | -1.2% | -45.8% | ||
| Q3 24 | 16.6% | -140.6% | ||
| Q2 24 | 1.2% | -14.1% | ||
| Q1 24 | -11.9% | -18.8% |
| Q4 25 | $-0.02 | $-0.24 | ||
| Q3 25 | $0.03 | $-0.18 | ||
| Q2 25 | $-0.03 | $-0.27 | ||
| Q1 25 | $-0.16 | $-0.21 | ||
| Q4 24 | $0.62 | $-0.21 | ||
| Q3 24 | $-0.06 | $-0.68 | ||
| Q2 24 | $-0.02 | $-0.07 | ||
| Q1 24 | $-0.44 | $-0.09 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $24.9M | $216.9M |
| Total DebtLower is stronger | — | $291.8M |
| Stockholders' EquityBook value | $-4.0M | $212.4M |
| Total Assets | $93.8M | $770.6M |
| Debt / EquityLower = less leverage | — | 1.37× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | $216.9M | ||
| Q3 25 | $14.6M | $243.6M | ||
| Q2 25 | $13.2M | $269.9M | ||
| Q1 25 | $35.1M | $285.1M | ||
| Q4 24 | $39.6M | $322.4M | ||
| Q3 24 | $12.0M | $578.2M | ||
| Q2 24 | $49.0M | $573.2M | ||
| Q1 24 | $12.3M | $561.7M |
| Q4 25 | — | $291.8M | ||
| Q3 25 | — | $292.8M | ||
| Q2 25 | — | $293.9M | ||
| Q1 25 | — | $294.9M | ||
| Q4 24 | — | $295.9M | ||
| Q3 24 | — | $521.7M | ||
| Q2 24 | — | $522.5M | ||
| Q1 24 | — | $523.3M |
| Q4 25 | $-4.0M | $212.4M | ||
| Q3 25 | $-7.7M | $245.4M | ||
| Q2 25 | $-10.5M | $265.9M | ||
| Q1 25 | $-13.0M | $300.6M | ||
| Q4 24 | $-12.9M | $325.3M | ||
| Q3 24 | $-85.1M | $344.9M | ||
| Q2 24 | $-101.8M | $434.7M | ||
| Q1 24 | $-105.6M | $410.7M |
| Q4 25 | $93.8M | $770.6M | ||
| Q3 25 | $85.8M | $849.2M | ||
| Q2 25 | $83.1M | $897.0M | ||
| Q1 25 | $93.0M | $959.8M | ||
| Q4 24 | $100.0M | $1.0B | ||
| Q3 24 | $113.4M | $1.3B | ||
| Q2 24 | $149.6M | $1.4B | ||
| Q1 24 | $122.1M | $1.4B |
| Q4 25 | — | 1.37× | ||
| Q3 25 | — | 1.19× | ||
| Q2 25 | — | 1.11× | ||
| Q1 25 | — | 0.98× | ||
| Q4 24 | — | 0.91× | ||
| Q3 24 | — | 1.51× | ||
| Q2 24 | — | 1.20× | ||
| Q1 24 | — | 1.27× |
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 | $12.0M | $-22.8M |
| Free Cash FlowOCF − Capex | $11.6M | $-24.9M |
| FCF MarginFCF / Revenue | 24.0% | -49.9% |
| Capex IntensityCapex / Revenue | 0.7% | 4.2% |
| Cash ConversionOCF / Net Profit | 25.50× | — |
| TTM Free Cash FlowTrailing 4 quarters | $6.5M | $-70.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.0M | $-22.8M | ||
| Q3 25 | $3.2M | $-15.2M | ||
| Q2 25 | $-4.5M | $-10.3M | ||
| Q1 25 | $-3.5M | $-9.4M | ||
| Q4 24 | $-14.2M | $-14.6M | ||
| Q3 24 | $14.8M | $13.1M | ||
| Q2 24 | $27.6M | $17.4M | ||
| Q1 24 | $5.2M | $-8.5M |
| Q4 25 | $11.6M | $-24.9M | ||
| Q3 25 | $3.1M | $-18.1M | ||
| Q2 25 | $-4.7M | $-13.1M | ||
| Q1 25 | $-3.5M | $-14.6M | ||
| Q4 24 | $-14.3M | $-20.5M | ||
| Q3 24 | $14.8M | $4.5M | ||
| Q2 24 | $27.6M | $7.9M | ||
| Q1 24 | — | $-14.1M |
| Q4 25 | 24.0% | -49.9% | ||
| Q3 25 | 6.7% | -43.4% | ||
| Q2 25 | -11.6% | -27.7% | ||
| Q1 25 | -11.0% | -31.2% | ||
| Q4 24 | -29.7% | -36.2% | ||
| Q3 24 | 27.4% | 6.6% | ||
| Q2 24 | 53.5% | 11.4% | ||
| Q1 24 | — | -22.0% |
| Q4 25 | 0.7% | 4.2% | ||
| Q3 25 | 0.2% | 7.0% | ||
| Q2 25 | 0.5% | 6.1% | ||
| Q1 25 | 0.1% | 11.2% | ||
| Q4 24 | 0.1% | 10.3% | ||
| Q3 24 | 0.0% | 12.4% | ||
| Q2 24 | 0.0% | 13.8% | ||
| Q1 24 | 0.0% | 8.8% |
| Q4 25 | 25.50× | — | ||
| Q3 25 | 2.22× | — | ||
| Q2 25 | -8.81× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.65× | — | ||
| Q2 24 | 44.31× | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INSG
Segment breakdown not available.
MRVI
| Cygnus Segment | $27.2M | 54% |
| Other | $18.4M | 37% |
| Shipping And Handling | $4.3M | 9% |
