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Side-by-side financial comparison of INSEEGO CORP. (INSG) and Smart Sand, Inc. (SND). Click either name above to swap in a different company.
Smart Sand, Inc. is the larger business by last-quarter revenue ($86.0M vs $48.4M, roughly 1.8× INSEEGO CORP.). Smart Sand, Inc. runs the higher net margin — 1.4% vs 1.0%, a 0.4% gap on every dollar of revenue. On growth, INSEEGO CORP. posted the faster year-over-year revenue change (0.6% vs -5.8%). Smart Sand, Inc. produced more free cash flow last quarter ($20.4M vs $11.6M). Over the past eight quarters, INSEEGO CORP.'s revenue compounded faster (13.6% CAGR vs 1.8%).
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.
Sand 9 is a fabless Micro-electromechanical system (MEMS) company based in Cambridge, Massachusetts. Sand 9 developed a piezoelectric MEMS resonator to serve as an alternative for quartz timing devices in applications such as smart phones, low-power wireless devices, and communications infrastructure equipment.
INSG vs SND — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $48.4M | $86.0M |
| Net Profit | $469.0K | $1.2M |
| Gross Margin | 42.2% | 13.0% |
| Operating Margin | 2.7% | -3.1% |
| Net Margin | 1.0% | 1.4% |
| Revenue YoY | 0.6% | -5.8% |
| Net Profit YoY | 182.9% | -68.5% |
| EPS (diluted) | $-0.02 | $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.
| Q4 25 | $48.4M | $86.0M | ||
| Q3 25 | $45.9M | $92.8M | ||
| Q2 25 | $40.2M | $85.8M | ||
| Q1 25 | $31.7M | $65.6M | ||
| Q4 24 | $48.1M | $91.4M | ||
| Q3 24 | $54.0M | $63.2M | ||
| Q2 24 | $51.6M | $73.8M | ||
| Q1 24 | $37.5M | $83.1M |
| Q4 25 | $469.0K | $1.2M | ||
| Q3 25 | $1.4M | $3.0M | ||
| Q2 25 | $507.0K | $21.4M | ||
| Q1 25 | $-1.6M | $-24.2M | ||
| Q4 24 | $-566.0K | $3.7M | ||
| Q3 24 | $9.0M | $-98.0K | ||
| Q2 24 | $624.0K | $-430.0K | ||
| Q1 24 | $-4.5M | $-216.0K |
| Q4 25 | 42.2% | 13.0% | ||
| Q3 25 | 41.6% | 16.1% | ||
| Q2 25 | 41.1% | 10.4% | ||
| Q1 25 | 47.3% | 4.2% | ||
| Q4 24 | 37.3% | 14.7% | ||
| Q3 24 | 34.8% | 10.3% | ||
| Q2 24 | 36.4% | 17.7% | ||
| Q1 24 | 35.3% | 14.2% |
| Q4 25 | 2.7% | -3.1% | ||
| Q3 25 | 4.7% | 5.8% | ||
| Q2 25 | 3.2% | -0.1% | ||
| Q1 25 | -1.3% | -10.8% | ||
| Q4 24 | 3.7% | 3.9% | ||
| Q3 24 | 1.9% | -7.8% | ||
| Q2 24 | 3.6% | 4.8% | ||
| Q1 24 | -7.9% | 0.9% |
| Q4 25 | 1.0% | 1.4% | ||
| Q3 25 | 3.1% | 3.2% | ||
| Q2 25 | 1.3% | 24.9% | ||
| Q1 25 | -5.0% | -37.0% | ||
| Q4 24 | -1.2% | 4.1% | ||
| Q3 24 | 16.6% | -0.2% | ||
| Q2 24 | 1.2% | -0.6% | ||
| Q1 24 | -11.9% | -0.3% |
| Q4 25 | $-0.02 | $0.03 | ||
| Q3 25 | $0.03 | $0.08 | ||
| Q2 25 | $-0.03 | $0.54 | ||
| Q1 25 | $-0.16 | $-0.62 | ||
| Q4 24 | $0.62 | $0.10 | ||
| Q3 24 | $-0.06 | $0.00 | ||
| Q2 24 | $-0.02 | $-0.01 | ||
| Q1 24 | $-0.44 | $-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 | $24.9M | $22.6M |
| Total DebtLower is stronger | — | $15.0M |
| Stockholders' EquityBook value | $-4.0M | $239.7M |
| Total Assets | $93.8M | $340.0M |
| Debt / EquityLower = less leverage | — | 0.06× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | $22.6M | ||
| Q3 25 | $14.6M | $5.1M | ||
| Q2 25 | $13.2M | $4.3M | ||
| Q1 25 | $35.1M | $5.1M | ||
| Q4 24 | $39.6M | $1.6M | ||
| Q3 24 | $12.0M | $7.2M | ||
| Q2 24 | $49.0M | $6.3M | ||
| Q1 24 | $12.3M | $4.6M |
| Q4 25 | — | $15.0M | ||
| Q3 25 | — | $14.3M | ||
| Q2 25 | — | $23.5M | ||
| Q1 25 | — | $13.7M | ||
| Q4 24 | — | $14.7M | ||
| Q3 24 | — | $15.7M | ||
| Q2 24 | — | $17.1M | ||
| Q1 24 | — | $25.5M |
| Q4 25 | $-4.0M | $239.7M | ||
| Q3 25 | $-7.7M | $239.9M | ||
| Q2 25 | $-10.5M | $240.5M | ||
| Q1 25 | $-13.0M | $219.9M | ||
| Q4 24 | $-12.9M | $243.8M | ||
| Q3 24 | $-85.1M | $243.6M | ||
| Q2 24 | $-101.8M | $242.9M | ||
| Q1 24 | $-105.6M | $242.5M |
| Q4 25 | $93.8M | $340.0M | ||
| Q3 25 | $85.8M | $343.1M | ||
| Q2 25 | $83.1M | $345.8M | ||
| Q1 25 | $93.0M | $326.9M | ||
| Q4 24 | $100.0M | $341.5M | ||
| Q3 24 | $113.4M | $335.8M | ||
| Q2 24 | $149.6M | $341.8M | ||
| Q1 24 | $122.1M | $349.3M |
| Q4 25 | — | 0.06× | ||
| Q3 25 | — | 0.06× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.06× | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.06× | ||
| Q2 24 | — | 0.07× | ||
| Q1 24 | — | 0.11× |
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 | $22.4M |
| Free Cash FlowOCF − Capex | $11.6M | $20.4M |
| FCF MarginFCF / Revenue | 24.0% | 23.7% |
| Capex IntensityCapex / Revenue | 0.7% | 2.3% |
| Cash ConversionOCF / Net Profit | 25.50× | 18.99× |
| TTM Free Cash FlowTrailing 4 quarters | $6.5M | $32.5M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.0M | $22.4M | ||
| Q3 25 | $3.2M | $18.2M | ||
| Q2 25 | $-4.5M | $-5.1M | ||
| Q1 25 | $-3.5M | $8.7M | ||
| Q4 24 | $-14.2M | $1.0M | ||
| Q3 24 | $14.8M | $5.8M | ||
| Q2 24 | $27.6M | $14.9M | ||
| Q1 24 | $5.2M | $-3.9M |
| Q4 25 | $11.6M | $20.4M | ||
| Q3 25 | $3.1M | $14.8M | ||
| Q2 25 | $-4.7M | $-7.8M | ||
| Q1 25 | $-3.5M | $5.2M | ||
| Q4 24 | $-14.3M | $-840.0K | ||
| Q3 24 | $14.8M | $3.7M | ||
| Q2 24 | $27.6M | $13.5M | ||
| Q1 24 | — | $-5.5M |
| Q4 25 | 24.0% | 23.7% | ||
| Q3 25 | 6.7% | 15.9% | ||
| Q2 25 | -11.6% | -9.1% | ||
| Q1 25 | -11.0% | 7.9% | ||
| Q4 24 | -29.7% | -0.9% | ||
| Q3 24 | 27.4% | 5.8% | ||
| Q2 24 | 53.5% | 18.3% | ||
| Q1 24 | — | -6.6% |
| Q4 25 | 0.7% | 2.3% | ||
| Q3 25 | 0.2% | 3.6% | ||
| Q2 25 | 0.5% | 3.1% | ||
| Q1 25 | 0.1% | 5.4% | ||
| Q4 24 | 0.1% | 2.1% | ||
| Q3 24 | 0.0% | 3.4% | ||
| Q2 24 | 0.0% | 1.8% | ||
| Q1 24 | 0.0% | 2.0% |
| Q4 25 | 25.50× | 18.99× | ||
| Q3 25 | 2.22× | 6.05× | ||
| Q2 25 | -8.81× | -0.24× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.28× | ||
| 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.
SND
| Sand | $85.1M | 99% |
| Smart Systems Segment | $980.0K | 1% |
