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Side-by-side financial comparison of Invesco Mortgage Capital Inc. (IVR) and Voyager Technologies, Inc. (VOYG). Click either name above to swap in a different company.

Voyager Technologies, Inc. is the larger business by last-quarter revenue ($35.2M vs $21.3M, roughly 1.7× Invesco Mortgage Capital Inc.). Invesco Mortgage Capital Inc. runs the higher net margin — 242.2% vs -130.4%, a 372.6% gap on every dollar of revenue. On growth, Invesco Mortgage Capital Inc. posted the faster year-over-year revenue change (55.4% vs 2.1%).

Invesco Ltd. is an American independent investment management company headquartered in Atlanta, Georgia, with branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange. Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.

IVR vs VOYG — Head-to-Head

Bigger by revenue
VOYG
VOYG
1.7× larger
VOYG
$35.2M
$21.3M
IVR
Growing faster (revenue YoY)
IVR
IVR
+53.3% gap
IVR
55.4%
2.1%
VOYG
Higher net margin
IVR
IVR
372.6% more per $
IVR
242.2%
-130.4%
VOYG

Income Statement — Q4 FY2025 vs Q1 FY2026

Metric
IVR
IVR
VOYG
VOYG
Revenue
$21.3M
$35.2M
Net Profit
$51.5M
$-45.9M
Gross Margin
-4.4%
Operating Margin
Net Margin
242.2%
-130.4%
Revenue YoY
55.4%
2.1%
Net Profit YoY
1368.7%
-64.5%
EPS (diluted)
$0.72
$-0.75

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
IVR
IVR
VOYG
VOYG
Q1 26
$35.2M
Q4 25
$21.3M
$46.7M
Q3 25
$17.6M
$39.6M
Q2 25
$17.7M
$45.7M
Q1 25
$18.8M
Q4 24
$13.7M
Q3 24
$7.5M
Q2 24
$8.6M
Net Profit
IVR
IVR
VOYG
VOYG
Q1 26
$-45.9M
Q4 25
$51.5M
$-33.0M
Q3 25
$53.5M
$-16.3M
Q2 25
$-23.3M
$-31.4M
Q1 25
$19.6M
Q4 24
$3.5M
Q3 24
$40.7M
Q2 24
$-13.5M
Gross Margin
IVR
IVR
VOYG
VOYG
Q1 26
-4.4%
Q4 25
21.4%
Q3 25
15.4%
Q2 25
18.0%
Q1 25
Q4 24
Q3 24
Q2 24
Operating Margin
IVR
IVR
VOYG
VOYG
Q1 26
Q4 25
Q3 25
-60.7%
Q2 25
-52.8%
Q1 25
Q4 24
Q3 24
Q2 24
Net Margin
IVR
IVR
VOYG
VOYG
Q1 26
-130.4%
Q4 25
242.2%
-70.7%
Q3 25
303.6%
-41.1%
Q2 25
-131.6%
-68.7%
Q1 25
104.4%
Q4 24
25.6%
Q3 24
542.2%
Q2 24
-155.9%
EPS (diluted)
IVR
IVR
VOYG
VOYG
Q1 26
$-0.75
Q4 25
$0.72
$-0.52
Q3 25
$0.74
$-0.28
Q2 25
$-0.40
$-1.23
Q1 25
$0.26
Q4 24
$-0.09
Q3 24
$0.63
Q2 24
$-0.38

Balance Sheet & Financial Strength

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

Metric
IVR
IVR
VOYG
VOYG
Cash + ST InvestmentsLiquidity on hand
$56.0M
$429.4M
Total DebtLower is stronger
Stockholders' EquityBook value
$797.5M
$404.5M
Total Assets
$6.5B
$1.0B
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
IVR
IVR
VOYG
VOYG
Q1 26
$429.4M
Q4 25
$56.0M
$491.3M
Q3 25
$58.5M
$413.3M
Q2 25
$59.4M
$468.9M
Q1 25
$42.9M
Q4 24
$73.4M
Q3 24
$48.3M
Q2 24
$58.8M
Stockholders' Equity
IVR
IVR
VOYG
VOYG
Q1 26
$404.5M
Q4 25
$797.5M
Q3 25
$769.6M
$590.9M
Q2 25
$709.4M
$554.7M
Q1 25
$759.2M
Q4 24
$730.7M
Q3 24
$857.0M
Q2 24
$759.2M
Total Assets
IVR
IVR
VOYG
VOYG
Q1 26
$1.0B
Q4 25
$6.5B
Q3 25
$6.0B
$727.8M
Q2 25
$5.4B
$685.3M
Q1 25
$6.2B
Q4 24
$5.7B
Q3 24
$6.1B
Q2 24
$5.1B

Cash Flow & Capital Efficiency

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

Metric
IVR
IVR
VOYG
VOYG
Operating Cash FlowLast quarter
$157.1M
$-39.7M
Free Cash FlowOCF − Capex
$-66.8M
FCF MarginFCF / Revenue
-189.5%
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
3.05×
TTM Free Cash FlowTrailing 4 quarters
$-263.9M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
IVR
IVR
VOYG
VOYG
Q1 26
$-39.7M
Q4 25
$157.1M
$-60.9M
Q3 25
$37.3M
$-15.1M
Q2 25
$40.6M
$-30.9M
Q1 25
$19.3M
Q4 24
$183.2M
Q3 24
$30.8M
Q2 24
$33.0M
Free Cash Flow
IVR
IVR
VOYG
VOYG
Q1 26
$-66.8M
Q4 25
$-54.5M
Q3 25
$-53.8M
Q2 25
$-88.8M
Q1 25
Q4 24
Q3 24
Q2 24
FCF Margin
IVR
IVR
VOYG
VOYG
Q1 26
-189.5%
Q4 25
-116.9%
Q3 25
-135.8%
Q2 25
-194.4%
Q1 25
Q4 24
Q3 24
Q2 24
Capex Intensity
IVR
IVR
VOYG
VOYG
Q1 26
Q4 25
Q3 25
97.8%
Q2 25
126.7%
Q1 25
Q4 24
Q3 24
Q2 24
Cash Conversion
IVR
IVR
VOYG
VOYG
Q1 26
Q4 25
3.05×
Q3 25
0.70×
Q2 25
Q1 25
0.98×
Q4 24
52.24×
Q3 24
0.76×
Q2 24

Financial Flow Comparison

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

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