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Side-by-side financial comparison of TPG Mortgage Investment Trust, Inc. (MITT) 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 ($46.7M vs $20.4M, roughly 2.3× TPG Mortgage Investment Trust, Inc.). TPG Mortgage Investment Trust, Inc. runs the higher net margin — 65.0% vs -70.7%, a 135.7% gap on every dollar of revenue. On growth, Voyager Technologies, Inc. posted the faster year-over-year revenue change (23.7% vs 17.7%).
TPG Mortgage Investment Trust, Inc. is a real estate investment trust managed by global alternative asset firm TPG. It primarily invests in residential and commercial mortgage-backed securities, performing and non-performing mortgage loans, and other credit-linked real estate assets, with its core market being the United States. It generates returns via net interest income from holdings and strategic asset disposition gains.
MITT vs VOYG — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $20.4M | $46.7M |
| Net Profit | $13.3M | $-33.0M |
| Gross Margin | — | 21.4% |
| Operating Margin | 67.1% | — |
| Net Margin | 65.0% | -70.7% |
| Revenue YoY | 17.7% | 23.7% |
| Net Profit YoY | -7.0% | -71.2% |
| EPS (diluted) | $0.27 | $-0.52 |
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 | $20.4M | $46.7M | ||
| Q3 25 | $19.5M | $39.6M | ||
| Q2 25 | $17.8M | $45.7M | ||
| Q1 25 | $18.8M | — | ||
| Q4 24 | $17.4M | — | ||
| Q3 24 | $14.9M | — | ||
| Q2 24 | $16.4M | — | ||
| Q1 24 | $17.2M | — |
| Q4 25 | $13.3M | $-33.0M | ||
| Q3 25 | $20.0M | $-16.3M | ||
| Q2 25 | $3.9M | $-31.4M | ||
| Q1 25 | $11.5M | — | ||
| Q4 24 | $14.3M | — | ||
| Q3 24 | $16.6M | — | ||
| Q2 24 | $3.9M | — | ||
| Q1 24 | $20.9M | — |
| Q4 25 | — | 21.4% | ||
| Q3 25 | — | 15.4% | ||
| Q2 25 | — | 18.0% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 67.1% | — | ||
| Q3 25 | — | -60.7% | ||
| Q2 25 | 20.9% | -52.8% | ||
| Q1 25 | 54.6% | — | ||
| Q4 24 | 76.7% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 18.4% | — | ||
| Q1 24 | — | — |
| Q4 25 | 65.0% | -70.7% | ||
| Q3 25 | 102.5% | -41.1% | ||
| Q2 25 | 22.2% | -68.7% | ||
| Q1 25 | 60.9% | — | ||
| Q4 24 | 82.2% | — | ||
| Q3 24 | 111.3% | — | ||
| Q2 24 | 24.0% | — | ||
| Q1 24 | 121.6% | — |
| Q4 25 | $0.27 | $-0.52 | ||
| Q3 25 | $0.47 | $-0.28 | ||
| Q2 25 | $-0.05 | $-1.23 | ||
| Q1 25 | $0.21 | — | ||
| Q4 24 | $0.30 | — | ||
| Q3 24 | $0.40 | — | ||
| Q2 24 | $-0.02 | — | ||
| Q1 24 | $0.55 | — |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $57.8M | $491.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $560.7M | — |
| Total Assets | $8.7B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $57.8M | $491.3M | ||
| Q3 25 | $59.0M | $413.3M | ||
| Q2 25 | $88.7M | $468.9M | ||
| Q1 25 | $115.5M | — | ||
| Q4 24 | $118.7M | — | ||
| Q3 24 | $102.5M | — | ||
| Q2 24 | $120.9M | — | ||
| Q1 24 | $100.3M | — |
| Q4 25 | $560.7M | — | ||
| Q3 25 | $559.8M | $590.9M | ||
| Q2 25 | $536.4M | $554.7M | ||
| Q1 25 | $543.9M | — | ||
| Q4 24 | $543.4M | — | ||
| Q3 24 | $540.1M | — | ||
| Q2 24 | $533.5M | — | ||
| Q1 24 | $539.6M | — |
| Q4 25 | $8.7B | — | ||
| Q3 25 | $9.0B | $727.8M | ||
| Q2 25 | $7.5B | $685.3M | ||
| Q1 25 | $7.3B | — | ||
| Q4 24 | $6.9B | — | ||
| Q3 24 | $7.0B | — | ||
| Q2 24 | $7.1B | — | ||
| Q1 24 | $6.4B | — |
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 | $59.6M | $-60.9M |
| Free Cash FlowOCF − Capex | — | $-54.5M |
| FCF MarginFCF / Revenue | — | -116.9% |
| Capex IntensityCapex / Revenue | — | — |
| Cash ConversionOCF / Net Profit | 4.48× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $59.6M | $-60.9M | ||
| Q3 25 | $17.4M | $-15.1M | ||
| Q2 25 | $11.5M | $-30.9M | ||
| Q1 25 | $12.0M | — | ||
| Q4 24 | $55.8M | — | ||
| Q3 24 | $14.5M | — | ||
| Q2 24 | $13.7M | — | ||
| Q1 24 | $12.0M | — |
| Q4 25 | — | $-54.5M | ||
| Q3 25 | — | $-53.8M | ||
| Q2 25 | — | $-88.8M | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | -116.9% | ||
| Q3 25 | — | -135.8% | ||
| Q2 25 | — | -194.4% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | — | — | ||
| Q3 25 | — | 97.8% | ||
| Q2 25 | — | 126.7% | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | 4.48× | — | ||
| Q3 25 | 0.87× | — | ||
| Q2 25 | 2.92× | — | ||
| Q1 25 | 1.05× | — | ||
| Q4 24 | 3.91× | — | ||
| Q3 24 | 0.87× | — | ||
| Q2 24 | 3.50× | — | ||
| Q1 24 | 0.57× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
MITT
Segment breakdown not available.
VOYG
| Defense and National Security | $35.7M | 77% |
| Space Solutions | $12.5M | 27% |
