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Side-by-side financial comparison of NaaS Technology Inc. (NAAS) and Outdoor Holding Co (POWW). Click either name above to swap in a different company.

NaaS Technology Inc. is the larger business by last-quarter revenue ($25.9M vs $13.4M, roughly 1.9× Outdoor Holding Co). Outdoor Holding Co runs the higher net margin — 16.7% vs -193.3%, a 209.9% gap on every dollar of revenue. On growth, NaaS Technology Inc. posted the faster year-over-year revenue change (121.2% vs -54.1%).

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.

Vista Outdoor Inc. was an American designer, manufacturer, and marketer that operated in two segments: shooting sports and outdoor products. It was a "house of brands" with more than 40 labels and subsidiaries.

NAAS vs POWW — Head-to-Head

Bigger by revenue
NAAS
NAAS
1.9× larger
NAAS
$25.9M
$13.4M
POWW
Growing faster (revenue YoY)
NAAS
NAAS
+175.3% gap
NAAS
121.2%
-54.1%
POWW
Higher net margin
POWW
POWW
209.9% more per $
POWW
16.7%
-193.3%
NAAS

Income Statement — Q2 FY2024 vs Q3 FY2026

Metric
NAAS
NAAS
POWW
POWW
Revenue
$25.9M
$13.4M
Net Profit
$-50.0M
$2.2M
Gross Margin
29.2%
87.1%
Operating Margin
-144.2%
14.7%
Net Margin
-193.3%
16.7%
Revenue YoY
121.2%
-54.1%
Net Profit YoY
18.4%
108.5%
EPS (diluted)
$-0.02
$0.01

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
NAAS
NAAS
POWW
POWW
Q4 25
$13.4M
Q3 25
$12.0M
Q2 25
$11.9M
Q1 25
$12.6M
Q4 24
$12.5M
Q3 24
$12.0M
Q2 24
$25.9M
$12.3M
Q1 24
$-50.7M
Net Profit
NAAS
NAAS
POWW
POWW
Q4 25
$2.2M
Q3 25
$1.4M
Q2 25
$-6.5M
Q1 25
$-77.5M
Q4 24
$-26.1M
Q3 24
$-12.4M
Q2 24
$-50.0M
$-14.8M
Q1 24
$-5.2M
Gross Margin
NAAS
NAAS
POWW
POWW
Q4 25
87.1%
Q3 25
87.1%
Q2 25
87.2%
Q1 25
87.5%
Q4 24
87.4%
Q3 24
86.9%
Q2 24
29.2%
85.8%
Q1 24
Operating Margin
NAAS
NAAS
POWW
POWW
Q4 25
14.7%
Q3 25
5.9%
Q2 25
-50.7%
Q1 25
-213.6%
Q4 24
-163.8%
Q3 24
-50.3%
Q2 24
-144.2%
-50.8%
Q1 24
Net Margin
NAAS
NAAS
POWW
POWW
Q4 25
16.7%
Q3 25
11.7%
Q2 25
-54.5%
Q1 25
-614.5%
Q4 24
-208.7%
Q3 24
-103.7%
Q2 24
-193.3%
-120.2%
Q1 24
10.3%
EPS (diluted)
NAAS
NAAS
POWW
POWW
Q4 25
$0.01
Q3 25
$0.01
Q2 25
$-0.06
Q1 25
$-0.67
Q4 24
$-0.23
Q3 24
$-0.11
Q2 24
$-0.02
$-0.13
Q1 24
$-0.05

Balance Sheet & Financial Strength

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

Metric
NAAS
NAAS
POWW
POWW
Cash + ST InvestmentsLiquidity on hand
$24.7M
$69.9M
Total DebtLower is stronger
Stockholders' EquityBook value
$-33.4M
$237.3M
Total Assets
$180.2M
$271.7M
Debt / EquityLower = less leverage

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
NAAS
NAAS
POWW
POWW
Q4 25
$69.9M
Q3 25
$65.7M
Q2 25
$63.4M
Q1 25
$30.2M
Q4 24
$31.9M
Q3 24
$33.5M
Q2 24
$24.7M
$50.8M
Q1 24
$55.6M
Stockholders' Equity
NAAS
NAAS
POWW
POWW
Q4 25
$237.3M
Q3 25
$235.4M
Q2 25
$222.5M
Q1 25
$222.0M
Q4 24
$299.6M
Q3 24
$325.6M
Q2 24
$-33.4M
$342.5M
Q1 24
$358.0M
Total Assets
NAAS
NAAS
POWW
POWW
Q4 25
$271.7M
Q3 25
$270.3M
Q2 25
$269.5M
Q1 25
$297.3M
Q4 24
$355.4M
Q3 24
$368.9M
Q2 24
$180.2M
$398.6M
Q1 24
$403.0M

Cash Flow & Capital Efficiency

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

Metric
NAAS
NAAS
POWW
POWW
Operating Cash FlowLast quarter
$-25.7M
$5.7M
Free Cash FlowOCF − Capex
$5.0M
FCF MarginFCF / Revenue
37.6%
Capex IntensityCapex / Revenue
4.8%
Cash ConversionOCF / Net Profit
2.55×
TTM Free Cash FlowTrailing 4 quarters
$-2.3M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
NAAS
NAAS
POWW
POWW
Q4 25
$5.7M
Q3 25
$3.2M
Q2 25
$-6.7M
Q1 25
$-1.5M
Q4 24
$1.3M
Q3 24
$-9.3M
Q2 24
$-25.7M
$-547.5K
Q1 24
$4.3M
Free Cash Flow
NAAS
NAAS
POWW
POWW
Q4 25
$5.0M
Q3 25
$2.5M
Q2 25
$-7.6M
Q1 25
$-2.3M
Q4 24
$720.3K
Q3 24
$-10.6M
Q2 24
$-1.3M
Q1 24
$1.4M
FCF Margin
NAAS
NAAS
POWW
POWW
Q4 25
37.6%
Q3 25
21.0%
Q2 25
-63.8%
Q1 25
-18.6%
Q4 24
5.8%
Q3 24
-88.3%
Q2 24
-11.0%
Q1 24
-2.8%
Capex Intensity
NAAS
NAAS
POWW
POWW
Q4 25
4.8%
Q3 25
5.8%
Q2 25
7.5%
Q1 25
6.5%
Q4 24
4.4%
Q3 24
10.4%
Q2 24
6.5%
Q1 24
-5.7%
Cash Conversion
NAAS
NAAS
POWW
POWW
Q4 25
2.55×
Q3 25
2.29×
Q2 25
Q1 25
Q4 24
Q3 24
Q2 24
Q1 24

Financial Flow Comparison

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

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