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Side-by-side financial comparison of AeroVironment Inc (AVAV) and Iridium Communications Inc. (IRDM). Click either name above to swap in a different company.
AeroVironment Inc is the larger business by last-quarter revenue ($472.5M vs $219.1M, roughly 2.2× Iridium Communications Inc.). Iridium Communications Inc. runs the higher net margin — 9.9% vs -3.6%, a 13.5% gap on every dollar of revenue. On growth, AeroVironment Inc posted the faster year-over-year revenue change (181.9% vs 1.9%). Over the past eight quarters, AeroVironment Inc's revenue compounded faster (59.1% CAGR vs 4.4%).
AeroVironment, Inc., also known as AV, is an American defense technology company headquartered in Arlington, Virginia that designs and manufactures autonomous systems, counter-UAS systems, and space systems. The company was founded in 1971 by Paul B. MacCready Jr., a designer of human-powered aircraft. The company provides the US Department of Defense and foreign militaries with small and medium-sized drones—notably the Raven, Switchblade, Wasp, and Puma. Through its acquisition of BlueHalo i...
Iridium Communications Inc. is a publicly traded American company headquartered in McLean, Virginia, United States. Iridium operates the Iridium satellite constellation, a system of 80 satellites: 66 are active satellites and the remaining fourteen function as in-orbit spares. Iridium Satellites are used for worldwide voice and data communication from handheld satellite phones, satellite messenger communication devices and integrated transceivers, as well as for two-way satellite messaging se...
AVAV vs IRDM — Head-to-Head
Income Statement — Q2 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $472.5M | $219.1M |
| Net Profit | $-17.1M | $21.6M |
| Gross Margin | 22.0% | — |
| Operating Margin | -6.4% | 23.2% |
| Net Margin | -3.6% | 9.9% |
| Revenue YoY | 181.9% | 1.9% |
| Net Profit YoY | -875.1% | -29.0% |
| EPS (diluted) | $-0.34 | — |
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 | — | $219.1M | ||
| Q4 25 | $472.5M | $212.9M | ||
| Q3 25 | $454.7M | $226.9M | ||
| Q2 25 | $275.1M | $216.9M | ||
| Q1 25 | $167.6M | $214.9M | ||
| Q4 24 | $188.5M | $213.0M | ||
| Q3 24 | $189.5M | $212.8M | ||
| Q2 24 | $197.0M | $201.1M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $-17.1M | $24.9M | ||
| Q3 25 | $-67.4M | $37.1M | ||
| Q2 25 | $16.7M | $22.0M | ||
| Q1 25 | $-1.8M | $30.4M | ||
| Q4 24 | $7.5M | $36.3M | ||
| Q3 24 | $21.2M | $24.4M | ||
| Q2 24 | $6.0M | $32.3M |
| Q1 26 | — | — | ||
| Q4 25 | 22.0% | — | ||
| Q3 25 | 20.9% | — | ||
| Q2 25 | 36.5% | — | ||
| Q1 25 | 37.7% | — | ||
| Q4 24 | 39.1% | — | ||
| Q3 24 | 43.0% | — | ||
| Q2 24 | 38.4% | — |
| Q1 26 | — | 23.2% | ||
| Q4 25 | -6.4% | 25.9% | ||
| Q3 25 | -15.2% | 30.9% | ||
| Q2 25 | 5.0% | 23.2% | ||
| Q1 25 | -1.8% | 28.1% | ||
| Q4 24 | 3.7% | 24.5% | ||
| Q3 24 | 12.2% | 25.8% | ||
| Q2 24 | 3.0% | 21.7% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | -3.6% | 11.7% | ||
| Q3 25 | -14.8% | 16.4% | ||
| Q2 25 | 6.1% | 10.1% | ||
| Q1 25 | -1.0% | 14.2% | ||
| Q4 24 | 4.0% | 17.1% | ||
| Q3 24 | 11.2% | 11.5% | ||
| Q2 24 | 3.1% | 16.1% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.34 | $0.24 | ||
| Q3 25 | $-1.44 | $0.35 | ||
| Q2 25 | $0.59 | $0.20 | ||
| Q1 25 | $-0.06 | $0.27 | ||
| Q4 24 | $0.27 | $0.30 | ||
| Q3 24 | $0.75 | $0.21 | ||
| Q2 24 | $0.18 | $0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $588.5M | — |
| Total DebtLower is stronger | $747.5M | — |
| Stockholders' EquityBook value | $4.4B | — |
| Total Assets | $5.6B | — |
| Debt / EquityLower = less leverage | 0.17× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $588.5M | $96.5M | ||
| Q3 25 | $685.8M | $88.5M | ||
| Q2 25 | $40.9M | $79.3M | ||
| Q1 25 | $47.0M | $50.9M | ||
| Q4 24 | $69.0M | $93.5M | ||
| Q3 24 | $81.2M | $159.6M | ||
| Q2 24 | $73.3M | $63.5M |
| Q1 26 | — | — | ||
| Q4 25 | $747.5M | $1.8B | ||
| Q3 25 | $747.5M | — | ||
| Q2 25 | $30.0M | — | ||
| Q1 25 | $25.0M | — | ||
| Q4 24 | $15.0M | $1.8B | ||
| Q3 24 | $17.5M | — | ||
| Q2 24 | $28.0M | — |
| Q1 26 | — | — | ||
| Q4 25 | $4.4B | $462.6M | ||
| Q3 25 | $4.4B | $450.5M | ||
| Q2 25 | $886.5M | $473.6M | ||
| Q1 25 | $861.1M | $518.4M | ||
| Q4 24 | $858.4M | $576.6M | ||
| Q3 24 | $845.5M | $663.8M | ||
| Q2 24 | $822.7M | $786.7M |
| Q1 26 | — | — | ||
| Q4 25 | $5.6B | $2.5B | ||
| Q3 25 | $5.6B | $2.6B | ||
| Q2 25 | $1.1B | $2.6B | ||
| Q1 25 | $1.0B | $2.6B | ||
| Q4 24 | $1.0B | $2.7B | ||
| Q3 24 | $999.2M | $2.8B | ||
| Q2 24 | $1.0B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | 0.17× | 3.80× | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | 0.02× | 3.05× | ||
| Q3 24 | 0.02× | — | ||
| Q2 24 | 0.03× | — |
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 | $-45.1M | — |
| Free Cash FlowOCF − Capex | $-55.9M | — |
| FCF MarginFCF / Revenue | -11.8% | — |
| Capex IntensityCapex / Revenue | 2.3% | 13.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-240.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-45.1M | $108.6M | ||
| Q3 25 | $-123.7M | $100.8M | ||
| Q2 25 | $-264.0K | $129.6M | ||
| Q1 25 | $-25.8M | $61.1M | ||
| Q4 24 | $-3.6M | $104.8M | ||
| Q3 24 | $28.4M | $118.6M | ||
| Q2 24 | $-11.7M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $-55.9M | $75.1M | ||
| Q3 25 | $-146.5M | $79.2M | ||
| Q2 25 | $-8.8M | $108.9M | ||
| Q1 25 | $-29.6M | $36.5M | ||
| Q4 24 | $-8.7M | $80.5M | ||
| Q3 24 | $22.9M | $100.0M | ||
| Q2 24 | $-20.8M | $68.7M |
| Q1 26 | — | — | ||
| Q4 25 | -11.8% | 35.3% | ||
| Q3 25 | -32.2% | 34.9% | ||
| Q2 25 | -3.2% | 50.2% | ||
| Q1 25 | -17.7% | 17.0% | ||
| Q4 24 | -4.6% | 37.8% | ||
| Q3 24 | 12.1% | 47.0% | ||
| Q2 24 | -10.5% | 34.2% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | 2.3% | 15.7% | ||
| Q3 25 | 5.0% | 9.5% | ||
| Q2 25 | 3.1% | 9.5% | ||
| Q1 25 | 2.3% | 11.4% | ||
| Q4 24 | 2.7% | 11.4% | ||
| Q3 24 | 2.9% | 8.7% | ||
| Q2 24 | 4.6% | 6.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.37× | ||
| Q3 25 | — | 2.71× | ||
| Q2 25 | -0.02× | 5.90× | ||
| Q1 25 | — | 2.01× | ||
| Q4 24 | -0.48× | 2.88× | ||
| Q3 24 | 1.34× | 4.85× | ||
| Q2 24 | -1.93× | 2.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVAV
| Services | $130.2M | 28% |
| Cost Plus | $95.8M | 20% |
| Uncrewed Aircraft Systems | $89.8M | 19% |
| Space And Directed Energy | $53.2M | 11% |
| Non U.s.Government | $42.2M | 9% |
| TM | $31.9M | 7% |
| Other | $30.7M | 7% |
IRDM
| Voice and data | $57.4M | 26% |
| IoT data (2) | $43.9M | 20% |
| Government | $35.8M | 16% |
| Government service revenue (5) | $26.8M | 12% |
| Subscriber equipment | $23.1M | 11% |
| Hosted payload and other data service (4) | $14.9M | 7% |
| Broadband (3) | $12.9M | 6% |
| Commercial | $1.6M | 1% |
