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Powerfleet vs Turtle Beach: revenue, profit, margins and growth compared

Powerfleet brought in $443.8M of revenue in fiscal 2026, Turtle Beach $319.9M in fiscal 2025. Revenue changed by +22.4% at Powerfleet and -14.2% at Turtle Beach on the year before, so Powerfleet grew faster. Powerfleet kept -4.6% of its revenue as net profit, Turtle Beach 4.9%. Free cash flow was $8.8M at Powerfleet and $34M at Turtle Beach.

Side by side, latest fiscal year

AIOTTBCH
Fiscal year endedFY2026 (March 31, 2026)FY2025 (December 31, 2025)
Revenue$443.8M$319.9M
Revenue growth+22.4%-14.2%
Net income-$20.6M$15.7M
Net margin-4.6%4.9%
Free cash flow$8.8M$34M
Free cash flow margin2.0%10.6%
Earnings per share (diluted)-$0.15$0.77
Cash$36.5M$17M
Debt$236.5M$55.7M
Price to earningsn/a16.6
Market value$375.8M$228.2M
Dividend yieldn/an/a
Rank by revenue in sector#29 of 51 · Telecommunications#33 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: $443.8MTBCH FY2018: $287.4MTBCH FY2019: $234.7MTBCH FY2020: $360.1MTBCH FY2021: $366.4MTBCH FY2022: $240.2MTBCH FY2023: $258.1MTBCH FY2024: $372.8MTBCH FY2025: $319.9MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AIOT $443.8MTBCH $319.9M
Net income
AIOT FY2019: -$5.8MAIOT FY2019: -$11MAIOT FY2020: -$9MAIOT FY2021: -$12.8MAIOT FY2022: -$6.8MAIOT FY2023: -$5.7MAIOT FY2025: -$51MAIOT FY2026: -$20.6MTBCH FY2018: $39.2MTBCH FY2019: $17.9MTBCH FY2020: $38.7MTBCH FY2021: $17.7MTBCH FY2022: -$59.5MTBCH FY2023: -$17.7MTBCH FY2024: $16.2MTBCH FY2025: $15.7MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AIOT -$20.6MTBCH $15.7M
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%TBCH FY2018: 13.6%TBCH FY2019: 7.6%TBCH FY2020: 10.8%TBCH FY2021: 4.8%TBCH FY2022: -24.8%TBCH FY2023: -6.8%TBCH FY2024: 4.3%TBCH FY2025: 4.9%FY18FY19FY20FY21FY22FY23FY24FY25FY26
AIOT -4.6%TBCH 4.9%
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%TBCH FY2019: -18.4%TBCH FY2020: +53.5%TBCH FY2021: +1.7%TBCH FY2022: -34.4%TBCH FY2023: +7.5%TBCH FY2024: +44.4%TBCH FY2025: -14.2%FY19FY20FY21FY22FY23FY24FY25FY26
AIOT +22.4%TBCH -14.2%
Free cash flow
AIOT FY2019: -$2MAIOT FY2019: -$8.3MAIOT FY2020: $5.7MAIOT FY2021: -$7.8MAIOT FY2022: -$2.8MAIOT FY2023: $933KAIOT FY2025: -$23.4MAIOT FY2026: $8.8MTBCH FY2018: $37.2MTBCH FY2019: $37.5MTBCH FY2020: $45.4MTBCH FY2021: -$5.9MTBCH FY2022: -$45.4MTBCH FY2023: $24.9MTBCH FY2024: $847KTBCH FY2025: $34MFY18FY19FY20FY21FY22FY23FY24FY25FY26
AIOT $8.8MTBCH $34M

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

Questions about Powerfleet and Turtle Beach

Which is bigger by revenue, Powerfleet or Turtle Beach?

Powerfleet is bigger by revenue: $443.8M in fiscal 2026, against $319.9M for Turtle Beach in fiscal 2025.

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

Powerfleet had a net margin of -4.6% in fiscal 2026; Turtle Beach had 4.9% in fiscal 2025.

Which grew revenue faster, Powerfleet or Turtle Beach?

In their latest fiscal years revenue changed by +22.4% at Powerfleet and -14.2% at Turtle Beach.

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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