In my opinion they are different, for example:
....regarding your bike, it was stolen.
means, you are telling something related to your bike.
In terms of profits, you will not find a better investment.
In terms has the sound of some measurable or imaginable quantity you could here also say regarding profits, but i don't think it's a very good fit.
but you can't say in terms of your bike , it's stolen.
I hope it helps.