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Side-by-side financial comparison of Massimo Group (MAMO) and NaaS Technology Inc. (NAAS). Click either name above to swap in a different company.

NaaS Technology Inc. is the larger business by last-quarter revenue ($25.9M vs $21.0M, roughly 1.2× Massimo Group). Massimo Group runs the higher net margin — 9.5% vs -193.3%, a 202.7% gap on every dollar of revenue. On growth, NaaS Technology Inc. posted the faster year-over-year revenue change (121.2% vs 15.7%).

Massimo Dutti, S.A. is a Spanish premium clothing retailer specializing in cashmere and wool products, established in 1985 and owned by Spanish multinational company Inditex, the parent company of Zara, Pull&Bear, and other brands.

NaaS Technology Inc. is a leading electric vehicle energy service provider based in China. It delivers one-stop solutions covering charging network operation, software and hardware support for charging station operators, and value-added services such as charging location search and payment for EV owners, serving both enterprise and individual customers across domestic and select overseas markets.

MAMO vs NAAS — Head-to-Head

Bigger by revenue
NAAS
NAAS
1.2× larger
NAAS
$25.9M
$21.0M
MAMO
Growing faster (revenue YoY)
NAAS
NAAS
+105.5% gap
NAAS
121.2%
15.7%
MAMO
Higher net margin
MAMO
MAMO
202.7% more per $
MAMO
9.5%
-193.3%
NAAS

Income Statement — Q4 FY2025 vs Q2 FY2024

Metric
MAMO
MAMO
NAAS
NAAS
Revenue
$21.0M
$25.9M
Net Profit
$2.0M
$-50.0M
Gross Margin
41.5%
29.2%
Operating Margin
13.1%
-144.2%
Net Margin
9.5%
-193.3%
Revenue YoY
15.7%
121.2%
Net Profit YoY
215.0%
18.4%
EPS (diluted)
$0.05
$-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
MAMO
MAMO
NAAS
NAAS
Q4 25
$21.0M
Q3 25
$17.0M
Q2 25
$18.9M
Q1 25
$14.9M
Q4 24
$18.2M
Q3 24
$25.6M
Q2 24
$35.4M
$25.9M
Q1 24
$30.2M
Net Profit
MAMO
MAMO
NAAS
NAAS
Q4 25
$2.0M
Q3 25
$1.5M
Q2 25
$77.7K
Q1 25
$-2.1M
Q4 24
$-1.7M
Q3 24
$-2.5M
Q2 24
$2.8M
$-50.0M
Q1 24
$3.2M
Gross Margin
MAMO
MAMO
NAAS
NAAS
Q4 25
41.5%
Q3 25
42.0%
Q2 25
36.3%
Q1 25
28.4%
Q4 24
19.6%
Q3 24
27.2%
Q2 24
32.5%
29.2%
Q1 24
34.7%
Operating Margin
MAMO
MAMO
NAAS
NAAS
Q4 25
13.1%
Q3 25
10.5%
Q2 25
0.8%
Q1 25
-18.2%
Q4 24
-15.4%
Q3 24
1.2%
Q2 24
10.1%
-144.2%
Q1 24
13.2%
Net Margin
MAMO
MAMO
NAAS
NAAS
Q4 25
9.5%
Q3 25
9.0%
Q2 25
0.4%
Q1 25
-14.0%
Q4 24
-9.5%
Q3 24
-9.8%
Q2 24
8.0%
-193.3%
Q1 24
10.6%
EPS (diluted)
MAMO
MAMO
NAAS
NAAS
Q4 25
$0.05
Q3 25
$0.04
Q2 25
$0.00
Q1 25
$-0.05
Q4 24
$-0.05
Q3 24
$-0.06
Q2 24
$0.07
$-0.02
Q1 24
$0.08

Balance Sheet & Financial Strength

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

Metric
MAMO
MAMO
NAAS
NAAS
Cash + ST InvestmentsLiquidity on hand
$5.8M
$24.7M
Total DebtLower is stronger
Stockholders' EquityBook value
$23.7M
$-33.4M
Total Assets
$51.4M
$180.2M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
MAMO
MAMO
NAAS
NAAS
Q4 25
$5.8M
Q3 25
$2.6M
Q2 25
Q1 25
$3.0M
Q4 24
$10.2M
Q3 24
Q2 24
$24.7M
Q1 24
Stockholders' Equity
MAMO
MAMO
NAAS
NAAS
Q4 25
$23.7M
Q3 25
$21.7M
Q2 25
$20.2M
Q1 25
$19.9M
Q4 24
$21.7M
Q3 24
$22.5M
Q2 24
$24.7M
$-33.4M
Q1 24
$18.1M
Total Assets
MAMO
MAMO
NAAS
NAAS
Q4 25
$51.4M
Q3 25
$44.4M
Q2 25
$45.9M
Q1 25
$46.4M
Q4 24
$54.9M
Q3 24
$57.1M
Q2 24
$49.9M
$180.2M
Q1 24
$47.3M

Cash Flow & Capital Efficiency

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

Metric
MAMO
MAMO
NAAS
NAAS
Operating Cash FlowLast quarter
$4.0M
$-25.7M
Free Cash FlowOCF − Capex
FCF MarginFCF / Revenue
Capex IntensityCapex / Revenue
Cash ConversionOCF / Net Profit
2.01×
TTM Free Cash FlowTrailing 4 quarters

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
MAMO
MAMO
NAAS
NAAS
Q4 25
$4.0M
Q3 25
$633.2K
Q2 25
$-1.4M
Q1 25
$-3.3M
Q4 24
$9.1M
Q3 24
$4.7M
Q2 24
$-6.5M
$-25.7M
Q1 24
$-637.0K
Free Cash Flow
MAMO
MAMO
NAAS
NAAS
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
$9.0M
Q3 24
$4.6M
Q2 24
$-6.7M
Q1 24
$-741.4K
FCF Margin
MAMO
MAMO
NAAS
NAAS
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
49.7%
Q3 24
18.1%
Q2 24
-19.0%
Q1 24
-2.5%
Capex Intensity
MAMO
MAMO
NAAS
NAAS
Q4 25
Q3 25
Q2 25
Q1 25
Q4 24
0.2%
Q3 24
0.3%
Q2 24
0.7%
Q1 24
0.3%
Cash Conversion
MAMO
MAMO
NAAS
NAAS
Q4 25
2.01×
Q3 25
0.41×
Q2 25
-17.92×
Q1 25
Q4 24
Q3 24
Q2 24
-2.30×
Q1 24
-0.20×

Financial Flow Comparison

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

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