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Side-by-side financial comparison of INSEEGO CORP. (INSG) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
INSEEGO CORP. is the larger business by last-quarter revenue ($48.4M vs $33.9M, roughly 1.4× Spok Holdings, Inc). Spok Holdings, Inc runs the higher net margin — 8.7% vs 1.0%, a 7.7% gap on every dollar of revenue. On growth, INSEEGO CORP. posted the faster year-over-year revenue change (0.6% vs -0.1%). INSEEGO CORP. produced more free cash flow last quarter ($11.6M vs $10.1M). Over the past eight quarters, INSEEGO CORP.'s revenue compounded faster (13.6% CAGR vs -1.5%).
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.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
INSG vs SPOK — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $48.4M | $33.9M |
| Net Profit | $469.0K | $2.9M |
| Gross Margin | 42.2% | 76.7% |
| Operating Margin | 2.7% | 11.6% |
| Net Margin | 1.0% | 8.7% |
| Revenue YoY | 0.6% | -0.1% |
| Net Profit YoY | 182.9% | -19.6% |
| EPS (diluted) | $-0.02 | $0.13 |
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 | $33.9M | ||
| Q3 25 | $45.9M | $33.9M | ||
| Q2 25 | $40.2M | $35.7M | ||
| Q1 25 | $31.7M | $36.3M | ||
| Q4 24 | $48.1M | $33.9M | ||
| Q3 24 | $54.0M | $34.9M | ||
| Q2 24 | $51.6M | $34.0M | ||
| Q1 24 | $37.5M | $34.9M |
| Q4 25 | $469.0K | $2.9M | ||
| Q3 25 | $1.4M | $3.2M | ||
| Q2 25 | $507.0K | $4.6M | ||
| Q1 25 | $-1.6M | $5.2M | ||
| Q4 24 | $-566.0K | $3.6M | ||
| Q3 24 | $9.0M | $3.7M | ||
| Q2 24 | $624.0K | $3.4M | ||
| Q1 24 | $-4.5M | $4.2M |
| Q4 25 | 42.2% | 76.7% | ||
| Q3 25 | 41.6% | 78.3% | ||
| Q2 25 | 41.1% | 79.5% | ||
| Q1 25 | 47.3% | 80.1% | ||
| Q4 24 | 37.3% | 78.5% | ||
| Q3 24 | 34.8% | 79.5% | ||
| Q2 24 | 36.4% | 78.9% | ||
| Q1 24 | 35.3% | 79.5% |
| Q4 25 | 2.7% | 11.6% | ||
| Q3 25 | 4.7% | 12.9% | ||
| Q2 25 | 3.2% | 15.1% | ||
| Q1 25 | -1.3% | 16.6% | ||
| Q4 24 | 3.7% | 13.7% | ||
| Q3 24 | 1.9% | 14.2% | ||
| Q2 24 | 3.6% | 13.2% | ||
| Q1 24 | -7.9% | 14.0% |
| Q4 25 | 1.0% | 8.7% | ||
| Q3 25 | 3.1% | 9.5% | ||
| Q2 25 | 1.3% | 12.8% | ||
| Q1 25 | -5.0% | 14.3% | ||
| Q4 24 | -1.2% | 10.8% | ||
| Q3 24 | 16.6% | 10.5% | ||
| Q2 24 | 1.2% | 10.1% | ||
| Q1 24 | -11.9% | 12.1% |
| Q4 25 | $-0.02 | $0.13 | ||
| Q3 25 | $0.03 | $0.15 | ||
| Q2 25 | $-0.03 | $0.22 | ||
| Q1 25 | $-0.16 | $0.25 | ||
| Q4 24 | $0.62 | $0.17 | ||
| Q3 24 | $-0.06 | $0.18 | ||
| Q2 24 | $-0.02 | $0.17 | ||
| Q1 24 | $-0.44 | $0.21 |
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 | $25.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $-4.0M | $146.4M |
| Total Assets | $93.8M | $206.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $24.9M | $25.3M | ||
| Q3 25 | $14.6M | $21.4M | ||
| Q2 25 | $13.2M | $20.2M | ||
| Q1 25 | $35.1M | $19.9M | ||
| Q4 24 | $39.6M | $29.1M | ||
| Q3 24 | $12.0M | $27.8M | ||
| Q2 24 | $49.0M | $23.9M | ||
| Q1 24 | $12.3M | $23.3M |
| Q4 25 | $-4.0M | $146.4M | ||
| Q3 25 | $-7.7M | $148.7M | ||
| Q2 25 | $-10.5M | $150.9M | ||
| Q1 25 | $-13.0M | $151.7M | ||
| Q4 24 | $-12.9M | $154.7M | ||
| Q3 24 | $-85.1M | $156.3M | ||
| Q2 24 | $-101.8M | $158.2M | ||
| Q1 24 | $-105.6M | $160.2M |
| Q4 25 | $93.8M | $206.1M | ||
| Q3 25 | $85.8M | $209.7M | ||
| Q2 25 | $83.1M | $208.7M | ||
| Q1 25 | $93.0M | $204.5M | ||
| Q4 24 | $100.0M | $217.1M | ||
| Q3 24 | $113.4M | $216.8M | ||
| Q2 24 | $149.6M | $216.4M | ||
| Q1 24 | $122.1M | $215.0M |
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 | $11.5M |
| Free Cash FlowOCF − Capex | $11.6M | $10.1M |
| FCF MarginFCF / Revenue | 24.0% | 29.9% |
| Capex IntensityCapex / Revenue | 0.7% | 4.1% |
| Cash ConversionOCF / Net Profit | 25.50× | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | $6.5M | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.0M | $11.5M | ||
| Q3 25 | $3.2M | $8.1M | ||
| Q2 25 | $-4.5M | $7.0M | ||
| Q1 25 | $-3.5M | $2.3M | ||
| Q4 24 | $-14.2M | $8.4M | ||
| Q3 24 | $14.8M | $11.1M | ||
| Q2 24 | $27.6M | $7.4M | ||
| Q1 24 | $5.2M | $2.0M |
| Q4 25 | $11.6M | $10.1M | ||
| Q3 25 | $3.1M | $7.6M | ||
| Q2 25 | $-4.7M | $6.0M | ||
| Q1 25 | $-3.5M | $1.5M | ||
| Q4 24 | $-14.3M | $7.5M | ||
| Q3 24 | $14.8M | $10.3M | ||
| Q2 24 | $27.6M | $6.8M | ||
| Q1 24 | — | $1.1M |
| Q4 25 | 24.0% | 29.9% | ||
| Q3 25 | 6.7% | 22.4% | ||
| Q2 25 | -11.6% | 16.8% | ||
| Q1 25 | -11.0% | 4.2% | ||
| Q4 24 | -29.7% | 22.3% | ||
| Q3 24 | 27.4% | 29.4% | ||
| Q2 24 | 53.5% | 20.0% | ||
| Q1 24 | — | 3.2% |
| Q4 25 | 0.7% | 4.1% | ||
| Q3 25 | 0.2% | 1.6% | ||
| Q2 25 | 0.5% | 2.9% | ||
| Q1 25 | 0.1% | 2.1% | ||
| Q4 24 | 0.1% | 2.5% | ||
| Q3 24 | 0.0% | 2.4% | ||
| Q2 24 | 0.0% | 1.9% | ||
| Q1 24 | 0.0% | 2.5% |
| Q4 25 | 25.50× | 3.93× | ||
| Q3 25 | 2.22× | 2.54× | ||
| Q2 25 | -8.81× | 1.55× | ||
| Q1 25 | — | 0.43× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | 1.65× | 3.03× | ||
| Q2 24 | 44.31× | 2.17× | ||
| Q1 24 | — | 0.47× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INSG
Segment breakdown not available.
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
