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

Powerfleet brought in $443.8M of revenue in fiscal 2026, Lumentum $3B in fiscal 2026. Revenue changed by +22.4% at Powerfleet and +83.2% at Lumentum on the year before, so Lumentum grew faster. Powerfleet kept -4.6% of its revenue as net profit, Lumentum -230.1%. Free cash flow was $8.8M at Powerfleet and $300.1M at Lumentum.

Side by side, latest fiscal year

AIOTLITE
Fiscal year endedFY2026 (March 31, 2026)FY2026 (June 27, 2026)
Revenue$443.8M$3B
Revenue growth+22.4%+83.2%
Net income-$20.6M-$6.9B
Net margin-4.6%-230.1%
Free cash flow$8.8M$300.1M
Free cash flow margin2.0%10.0%
Earnings per share (diluted)-$0.15-$92.96
Cash$36.5M$2B
Debt$236.5M$1.6B
Price to earningsn/an/a
Market value$375.8M$73.3B
Dividend yieldn/an/a
Rank by revenue in sector#29 of 51 · Telecommunications#16 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: $443.8MLITE FY2019: $1.6BLITE FY2020: $1.7BLITE FY2021: $1.7BLITE FY2022: $1.7BLITE FY2023: $1.8BLITE FY2024: $1.4BLITE FY2025: $1.6BLITE FY2026: $3BFY19FY20FY21FY22FY23FY24FY25FY26
AIOT $443.8MLITE $3B
Net income
AIOT FY2019: -$5.8MAIOT FY2019: -$11MAIOT FY2020: -$9MAIOT FY2021: -$12.8MAIOT FY2022: -$6.8MAIOT FY2023: -$5.7MAIOT FY2025: -$51MAIOT FY2026: -$20.6MLITE FY2019: -$36.4MLITE FY2020: $135.5MLITE FY2021: $397.3MLITE FY2022: $198.9MLITE FY2023: -$131.6MLITE FY2024: -$546.5MLITE FY2025: $25.9MLITE FY2026: -$6.9BFY19FY20FY21FY22FY23FY24FY25FY26
AIOT -$20.6MLITE -$6.9B
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%LITE FY2019: -2.3%LITE FY2020: 8.1%LITE FY2021: 22.8%LITE FY2022: 11.6%LITE FY2023: -7.4%LITE FY2024: -40.2%LITE FY2025: 1.6%LITE FY2026: -230.1%FY19FY20FY21FY22FY23FY24FY25FY26
AIOT -4.6%LITE -230.1%
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%LITE FY2020: +7.2%LITE FY2021: +3.8%LITE FY2022: -1.7%LITE FY2023: +3.2%LITE FY2024: -23.1%LITE FY2025: +21.0%LITE FY2026: +83.2%FY19FY20FY21FY22FY23FY24FY25FY26
AIOT +22.4%LITE +83.2%
Free cash flow
AIOT FY2019: -$2MAIOT FY2019: -$8.3MAIOT FY2020: $5.7MAIOT FY2021: -$7.8MAIOT FY2022: -$2.8MAIOT FY2023: $933KAIOT FY2025: -$23.4MAIOT FY2026: $8.8MLITE FY2019: $164.1MLITE FY2020: $438.3MLITE FY2021: $653.9MLITE FY2022: $368.1MLITE FY2023: $51.3MLITE FY2024: -$108.3MLITE FY2025: -$104.7MLITE FY2026: $300.1MFY19FY20FY21FY22FY23FY24FY25FY26
AIOT $8.8MLITE $300.1M

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

Questions about Powerfleet and Lumentum

Which is bigger by revenue, Powerfleet or Lumentum?

Lumentum is bigger by revenue: $3B in fiscal 2026, against $443.8M for Powerfleet in fiscal 2026.

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

Powerfleet had a net margin of -4.6% in fiscal 2026; Lumentum had -230.1% in fiscal 2026.

Which grew revenue faster, Powerfleet or Lumentum?

In their latest fiscal years revenue changed by +22.4% at Powerfleet and +83.2% at Lumentum.

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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