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Side-by-side financial comparison of NORTECH SYSTEMS INC (NSYS) and Spire Global, Inc. (SPIR). Click either name above to swap in a different company.
NORTECH SYSTEMS INC is the larger business by last-quarter revenue ($30.3M vs $15.8M, roughly 1.9× Spire Global, Inc.). NORTECH SYSTEMS INC runs the higher net margin — 3.0% vs -176.6%, a 179.6% gap on every dollar of revenue. On growth, NORTECH SYSTEMS INC posted the faster year-over-year revenue change (5.9% vs -26.9%). NORTECH SYSTEMS INC produced more free cash flow last quarter ($5.5M vs $-16.2M). Over the past eight quarters, NORTECH SYSTEMS INC's revenue compounded faster (-5.9% CAGR vs -32.6%).
Nortech Systems Inc is a global electronics manufacturing services provider. It delivers end-to-end solutions covering product design, prototyping, full-scale production, and supply chain management for clients operating in medical technology, industrial automation, aerospace and defense, and transportation sectors. It specializes in high-reliability, regulatory-compliant electronic components and assemblies tailored to strict industry standards.
Spire Global, Inc. is a space-to-cloud data and analytics company that specializes in the tracking of global data sets powered by a large constellation of nanosatellites, such as the tracking of maritime, aviation and weather patterns.
NSYS vs SPIR — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $30.3M | $15.8M |
| Net Profit | $897.0K | $-28.0M |
| Gross Margin | 16.7% | 40.2% |
| Operating Margin | 3.0% | -164.1% |
| Net Margin | 3.0% | -176.6% |
| Revenue YoY | 5.9% | -26.9% |
| Net Profit YoY | 160.7% | 42.7% |
| EPS (diluted) | $0.32 | $-0.85 |
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 | $30.3M | $15.8M | ||
| Q3 25 | $30.5M | $12.7M | ||
| Q2 25 | $30.7M | $19.2M | ||
| Q1 25 | $26.9M | $23.9M | ||
| Q4 24 | $28.6M | $21.7M | ||
| Q3 24 | $31.4M | $28.6M | ||
| Q2 24 | $33.9M | $25.4M | ||
| Q1 24 | $34.2M | $34.8M |
| Q4 25 | $897.0K | $-28.0M | ||
| Q3 25 | $-146.0K | $-19.7M | ||
| Q2 25 | $313.0K | $119.6M | ||
| Q1 25 | $-1.3M | $-20.7M | ||
| Q4 24 | $-1.5M | $-48.8M | ||
| Q3 24 | $-739.0K | $-12.5M | ||
| Q2 24 | $157.0K | $-16.6M | ||
| Q1 24 | $765.0K | $-25.5M |
| Q4 25 | 16.7% | 40.2% | ||
| Q3 25 | 16.5% | 36.6% | ||
| Q2 25 | 15.8% | 48.9% | ||
| Q1 25 | 11.4% | 36.8% | ||
| Q4 24 | 9.9% | 32.4% | ||
| Q3 24 | 12.2% | 44.5% | ||
| Q2 24 | 13.6% | 43.0% | ||
| Q1 24 | 15.9% | 26.5% |
| Q4 25 | 3.0% | -164.1% | ||
| Q3 25 | 3.1% | -166.1% | ||
| Q2 25 | 2.4% | -122.7% | ||
| Q1 25 | -6.0% | -106.5% | ||
| Q4 24 | -4.3% | -144.1% | ||
| Q3 24 | -1.5% | -48.0% | ||
| Q2 24 | 1.0% | -48.6% | ||
| Q1 24 | 3.4% | -34.4% |
| Q4 25 | 3.0% | -176.6% | ||
| Q3 25 | -0.5% | -155.3% | ||
| Q2 25 | 1.0% | 623.4% | ||
| Q1 25 | -4.9% | -86.5% | ||
| Q4 24 | -5.2% | -225.2% | ||
| Q3 24 | -2.4% | -43.7% | ||
| Q2 24 | 0.5% | -65.2% | ||
| Q1 24 | 2.2% | -73.3% |
| Q4 25 | $0.32 | $-0.85 | ||
| Q3 25 | $-0.05 | $-0.61 | ||
| Q2 25 | $0.12 | $3.72 | ||
| Q1 25 | $-0.48 | $-0.77 | ||
| Q4 24 | $-0.51 | $-1.93 | ||
| Q3 24 | $-0.27 | $-0.50 | ||
| Q2 24 | $0.05 | $-0.68 | ||
| Q1 24 | $0.26 | $-1.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $1.7M | $81.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $34.5M | $112.9M |
| Total Assets | $71.9M | $211.0M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7M | $81.8M | ||
| Q3 25 | $1.3M | $96.8M | ||
| Q2 25 | $652.0K | $117.6M | ||
| Q1 25 | $1.2M | $35.9M | ||
| Q4 24 | $916.0K | $19.2M | ||
| Q3 24 | $1.2M | $36.6M | ||
| Q2 24 | $1.5M | $45.8M | ||
| Q1 24 | $4.0M | $63.7M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $103.7M | ||
| Q4 24 | — | $103.1M | ||
| Q3 24 | — | $4.9M | ||
| Q2 24 | — | $4.9M | ||
| Q1 24 | — | $123.1M |
| Q4 25 | $34.5M | $112.9M | ||
| Q3 25 | $33.4M | $133.1M | ||
| Q2 25 | $33.4M | $149.2M | ||
| Q1 25 | $32.8M | $3.7M | ||
| Q4 24 | $34.0M | $-11.7M | ||
| Q3 24 | $35.7M | $30.8M | ||
| Q2 24 | $36.1M | $40.3M | ||
| Q1 24 | $36.0M | $52.5M |
| Q4 25 | $71.9M | $211.0M | ||
| Q3 25 | $74.8M | $224.3M | ||
| Q2 25 | $74.8M | $239.5M | ||
| Q1 25 | $73.5M | $208.8M | ||
| Q4 24 | $72.4M | $193.6M | ||
| Q3 24 | $77.0M | $224.2M | ||
| Q2 24 | $76.3M | $230.8M | ||
| Q1 24 | $75.5M | $252.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 27.92× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.12× | ||
| Q1 24 | — | 2.35× |
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 | $5.6M | $-4.3M |
| Free Cash FlowOCF − Capex | $5.5M | $-16.2M |
| FCF MarginFCF / Revenue | 18.0% | -102.1% |
| Capex IntensityCapex / Revenue | 0.5% | 75.1% |
| Cash ConversionOCF / Net Profit | 6.25× | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.1M | $-92.6M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.6M | $-4.3M | ||
| Q3 25 | $-92.0K | $-12.0M | ||
| Q2 25 | $157.0K | $-35.1M | ||
| Q1 25 | $-2.9M | $-8.4M | ||
| Q4 24 | $793.0K | $-19.2M | ||
| Q3 24 | $-1.6M | $14.0M | ||
| Q2 24 | $-4.3M | $-4.4M | ||
| Q1 24 | $2.8M | $-8.8M |
| Q4 25 | $5.5M | $-16.2M | ||
| Q3 25 | $-242.0K | $-20.4M | ||
| Q2 25 | $58.0K | $-38.7M | ||
| Q1 25 | $-3.2M | $-17.3M | ||
| Q4 24 | $503.0K | $-24.3M | ||
| Q3 24 | $-1.6M | $5.1M | ||
| Q2 24 | $-4.6M | $-9.9M | ||
| Q1 24 | $2.1M | $-15.9M |
| Q4 25 | 18.0% | -102.1% | ||
| Q3 25 | -0.8% | -161.3% | ||
| Q2 25 | 0.2% | -201.7% | ||
| Q1 25 | -11.9% | -72.6% | ||
| Q4 24 | 1.8% | -112.2% | ||
| Q3 24 | -5.2% | 17.8% | ||
| Q2 24 | -13.5% | -39.0% | ||
| Q1 24 | 6.1% | -45.7% |
| Q4 25 | 0.5% | 75.1% | ||
| Q3 25 | 0.5% | 66.2% | ||
| Q2 25 | 0.3% | 18.8% | ||
| Q1 25 | 1.0% | 37.3% | ||
| Q4 24 | 1.0% | 23.5% | ||
| Q3 24 | 0.1% | 31.2% | ||
| Q2 24 | 0.8% | 21.8% | ||
| Q1 24 | 2.2% | 20.3% |
| Q4 25 | 6.25× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 0.50× | -0.29× | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | -27.30× | — | ||
| Q1 24 | 3.70× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NSYS
| Medical Imaging | $11.4M | 37% |
| Medical Device | $8.0M | 26% |
| Industrial | $7.3M | 24% |
| Aerospace And Defense | $3.7M | 12% |
SPIR
Segment breakdown not available.
