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Side-by-side financial comparison of NETSTREIT Corp. (NTST) and Spok Holdings, Inc (SPOK). Click either name above to swap in a different company.
NETSTREIT Corp. is the larger business by last-quarter revenue ($57.1M vs $33.9M, roughly 1.7× Spok Holdings, Inc). NETSTREIT Corp. runs the higher net margin — 10.0% vs 8.7%, a 1.4% gap on every dollar of revenue. On growth, NETSTREIT Corp. posted the faster year-over-year revenue change (24.3% vs -0.1%). Over the past eight quarters, NETSTREIT Corp.'s revenue compounded faster (20.1% CAGR vs -1.5%).
NETSTREIT Corp. is a US-headquartered real estate investment trust (REIT) that specializes in acquiring and operating a diversified portfolio of single-tenant net lease commercial properties. Its asset portfolio covers retail, industrial and office categories, primarily catering to investment-grade corporate tenants across the United States market.
Spok Holdings, Inc. is a global provider of critical communication solutions primarily serving the healthcare industry. It offers unified clinical communication platforms, secure messaging tools, alerting systems, and on-call scheduling software that help care teams coordinate efficiently, cut response times, and boost patient safety across medical facilities.
NTST vs SPOK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $57.1M | $33.9M |
| Net Profit | $5.7M | $2.9M |
| Gross Margin | — | 76.7% |
| Operating Margin | 34.1% | 11.6% |
| Net Margin | 10.0% | 8.7% |
| Revenue YoY | 24.3% | -0.1% |
| Net Profit YoY | 235.9% | -19.6% |
| EPS (diluted) | $0.32 | $0.13 |
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.
| Q1 26 | $57.1M | — | ||
| Q4 25 | $52.5M | $33.9M | ||
| Q3 25 | $48.3M | $33.9M | ||
| Q2 25 | $48.3M | $35.7M | ||
| Q1 25 | $45.9M | $36.3M | ||
| Q4 24 | $44.1M | $33.9M | ||
| Q3 24 | $41.4M | $34.9M | ||
| Q2 24 | $39.6M | $34.0M |
| Q1 26 | $5.7M | — | ||
| Q4 25 | $1.3M | $2.9M | ||
| Q3 25 | $618.0K | $3.2M | ||
| Q2 25 | $3.3M | $4.6M | ||
| Q1 25 | $1.7M | $5.2M | ||
| Q4 24 | $-5.4M | $3.6M | ||
| Q3 24 | $-5.3M | $3.7M | ||
| Q2 24 | $-2.3M | $3.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 76.7% | ||
| Q3 25 | — | 78.3% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 80.1% | ||
| Q4 24 | — | 78.5% | ||
| Q3 24 | — | 79.5% | ||
| Q2 24 | — | 78.9% |
| Q1 26 | 34.1% | — | ||
| Q4 25 | 2.6% | 11.6% | ||
| Q3 25 | 1.3% | 12.9% | ||
| Q2 25 | 6.8% | 15.1% | ||
| Q1 25 | 3.7% | 16.6% | ||
| Q4 24 | -12.3% | 13.7% | ||
| Q3 24 | -12.8% | 14.2% | ||
| Q2 24 | -5.8% | 13.2% |
| Q1 26 | 10.0% | — | ||
| Q4 25 | 2.5% | 8.7% | ||
| Q3 25 | 1.3% | 9.5% | ||
| Q2 25 | 6.8% | 12.8% | ||
| Q1 25 | 3.7% | 14.3% | ||
| Q4 24 | -12.3% | 10.8% | ||
| Q3 24 | -12.8% | 10.5% | ||
| Q2 24 | -5.8% | 10.1% |
| Q1 26 | $0.32 | — | ||
| Q4 25 | $0.01 | $0.13 | ||
| Q3 25 | $0.01 | $0.15 | ||
| Q2 25 | $0.04 | $0.22 | ||
| Q1 25 | $0.02 | $0.25 | ||
| Q4 24 | $-0.07 | $0.17 | ||
| Q3 24 | $-0.07 | $0.18 | ||
| Q2 24 | $-0.03 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $25.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.5B | $146.4M |
| Total Assets | $2.8B | $206.1M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | — | $25.3M | ||
| Q3 25 | — | $21.4M | ||
| Q2 25 | — | $20.2M | ||
| Q1 25 | — | $19.9M | ||
| Q4 24 | — | $29.1M | ||
| Q3 24 | — | $27.8M | ||
| Q2 24 | — | $23.9M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | — | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $926.6M | — | ||
| Q1 25 | $913.3M | — | ||
| Q4 24 | $868.3M | — | ||
| Q3 24 | $778.7M | — | ||
| Q2 24 | $726.2M | — |
| Q1 26 | $1.5B | — | ||
| Q4 25 | $1.4B | $146.4M | ||
| Q3 25 | $1.3B | $148.7M | ||
| Q2 25 | $1.3B | $150.9M | ||
| Q1 25 | $1.3B | $151.7M | ||
| Q4 24 | $1.3B | $154.7M | ||
| Q3 24 | $1.3B | $156.3M | ||
| Q2 24 | $1.3B | $158.2M |
| Q1 26 | $2.8B | — | ||
| Q4 25 | $2.6B | $206.1M | ||
| Q3 25 | $2.5B | $209.7M | ||
| Q2 25 | $2.3B | $208.7M | ||
| Q1 25 | $2.3B | $204.5M | ||
| Q4 24 | $2.3B | $217.1M | ||
| Q3 24 | $2.2B | $216.8M | ||
| Q2 24 | $2.1B | $216.4M |
| Q1 26 | — | — | ||
| Q4 25 | 0.76× | — | ||
| Q3 25 | 0.84× | — | ||
| Q2 25 | 0.70× | — | ||
| Q1 25 | 0.70× | — | ||
| Q4 24 | 0.65× | — | ||
| Q3 24 | 0.58× | — | ||
| Q2 24 | 0.55× | — |
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 | — | $11.5M |
| Free Cash FlowOCF − Capex | — | $10.1M |
| FCF MarginFCF / Revenue | — | 29.9% |
| Capex IntensityCapex / Revenue | — | 4.1% |
| Cash ConversionOCF / Net Profit | — | 3.93× |
| TTM Free Cash FlowTrailing 4 quarters | — | $25.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $109.5M | $11.5M | ||
| Q3 25 | $28.0M | $8.1M | ||
| Q2 25 | $30.6M | $7.0M | ||
| Q1 25 | $22.1M | $2.3M | ||
| Q4 24 | $90.2M | $8.4M | ||
| Q3 24 | $25.1M | $11.1M | ||
| Q2 24 | $25.4M | $7.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $10.1M | ||
| Q3 25 | — | $7.6M | ||
| Q2 25 | — | $6.0M | ||
| Q1 25 | — | $1.5M | ||
| Q4 24 | — | $7.5M | ||
| Q3 24 | — | $10.3M | ||
| Q2 24 | — | $6.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 29.9% | ||
| Q3 25 | — | 22.4% | ||
| Q2 25 | — | 16.8% | ||
| Q1 25 | — | 4.2% | ||
| Q4 24 | — | 22.3% | ||
| Q3 24 | — | 29.4% | ||
| Q2 24 | — | 20.0% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.1% | ||
| Q3 25 | — | 1.6% | ||
| Q2 25 | — | 2.9% | ||
| Q1 25 | — | 2.1% | ||
| Q4 24 | — | 2.5% | ||
| Q3 24 | — | 2.4% | ||
| Q2 24 | — | 1.9% |
| Q1 26 | — | — | ||
| Q4 25 | 82.46× | 3.93× | ||
| Q3 25 | 45.27× | 2.54× | ||
| Q2 25 | 9.36× | 1.55× | ||
| Q1 25 | 13.06× | 0.43× | ||
| Q4 24 | — | 2.31× | ||
| Q3 24 | — | 3.03× | ||
| Q2 24 | — | 2.17× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
NTST
| Rental revenue (including reimbursable) | $54.0M | 95% |
| Other | $3.0M | 5% |
SPOK
| Paging | $16.8M | 50% |
| Software Operations | $16.0M | 47% |
| License | $1.2M | 4% |
