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Powerfleet vs Inseego: revenue, profit, margins and growth compared

Powerfleet brought in $443.8M of revenue in fiscal 2026, Inseego $166.2M in fiscal 2025. Revenue changed by +22.4% at Powerfleet and -13.1% at Inseego on the year before, so Powerfleet grew faster. Powerfleet kept -4.6% of its revenue as net profit, Inseego 0.5%. Free cash flow was $8.8M at Powerfleet and $6.5M at Inseego.

Side by side, latest fiscal year

AIOTINSG
Fiscal year endedFY2026 (March 31, 2026)FY2025 (December 31, 2025)
Revenue$443.8M$166.2M
Revenue growth+22.4%-13.1%
Net income-$20.6M$838K
Net margin-4.6%0.5%
Free cash flow$8.8M$6.5M
Free cash flow margin2.0%3.9%
Earnings per share (diluted)-$0.15-$0.18
Cash$36.5M$24.9M
Debt$236.5Mn/a
Price to earningsn/an/a
Market value$375.8M$61.7M
Dividend yieldn/an/a
Rank by revenue in sector#29 of 51 · Telecommunications#36 of 51 · Telecommunications

Over the years

Revenue
AIOT FY2019: $53.1MAIOT FY2019: $81.9MAIOT FY2020: $113.6MAIOT FY2021: $126MAIOT FY2022: $135.9MAIOT FY2023: $133.7MAIOT FY2025: $362.5MAIOT FY2026: $443.8MINSG FY2018: $202.5MINSG FY2019: $219.5MINSG FY2020: $313.8MINSG FY2021: $262.4MINSG FY2022: $245.3MINSG FY2023: $167.3MINSG FY2024: $191.2MINSG FY2025: $166.2MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AIOT $443.8MINSG $166.2M
Net income
AIOT FY2019: -$5.8MAIOT FY2019: -$11MAIOT FY2020: -$9MAIOT FY2021: -$12.8MAIOT FY2022: -$6.8MAIOT FY2023: -$5.7MAIOT FY2025: -$51MAIOT FY2026: -$20.6MINSG FY2018: -$8.1MINSG FY2019: -$40.1MINSG FY2020: -$111.2MINSG FY2021: -$48.1MINSG FY2022: -$68MINSG FY2023: -$46.2MINSG FY2024: $4.6MINSG FY2025: $838KFY18FY19FY20FY21FY22FY23FY24FY25FY26
AIOT -$20.6MINSG $838K
Net margin
AIOT FY2019: -11.0%AIOT FY2019: -13.4%AIOT FY2020: -7.9%AIOT FY2021: -10.1%AIOT FY2022: -5.0%AIOT FY2023: -4.2%AIOT FY2025: -14.1%AIOT FY2026: -4.6%INSG FY2018: -4.0%INSG FY2019: -18.3%INSG FY2020: -35.4%INSG FY2021: -18.3%INSG FY2022: -27.7%INSG FY2023: -27.6%INSG FY2024: 2.4%INSG FY2025: 0.5%FY18FY19FY20FY21FY22FY23FY24FY25FY26
AIOT -4.6%INSG 0.5%
Revenue growth
AIOT FY2019: +54.4%AIOT FY2020: +38.7%AIOT FY2021: +10.9%AIOT FY2022: +7.9%AIOT FY2023: -1.6%AIOT FY2026: +22.4%INSG FY2019: +8.4%INSG FY2020: +43.0%INSG FY2021: -16.4%INSG FY2022: -6.5%INSG FY2023: -31.8%INSG FY2024: +14.3%INSG FY2025: -13.1%FY19FY20FY21FY22FY23FY24FY25FY26
AIOT +22.4%INSG -13.1%
Free cash flow
AIOT FY2019: -$2MAIOT FY2019: -$8.3MAIOT FY2020: $5.7MAIOT FY2021: -$7.8MAIOT FY2022: -$2.8MAIOT FY2023: $933KAIOT FY2025: -$23.4MAIOT FY2026: $8.8MINSG FY2018: -$3.1MINSG FY2019: -$24.6MINSG FY2020: $14.3MINSG FY2021: -$30.1MINSG FY2022: -$34.8MINSG FY2023: $5.7MINSG FY2024: $33.4MINSG FY2025: $6.5MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AIOT $8.8MINSG $6.5M

Fiscal years as each company reports them; the two may end in different months.

Questions about Powerfleet and Inseego

Which is bigger by revenue, Powerfleet or Inseego?

Powerfleet is bigger by revenue: $443.8M in fiscal 2026, against $166.2M for Inseego in fiscal 2025.

Which keeps more of its revenue as profit, Powerfleet or Inseego?

Powerfleet had a net margin of -4.6% in fiscal 2026; Inseego had 0.5% in fiscal 2025.

Which grew revenue faster, Powerfleet or Inseego?

In their latest fiscal years revenue changed by +22.4% at Powerfleet and -13.1% at Inseego.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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