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Side-by-side financial comparison of BLACKBERRY Ltd (BB) and Iridium Communications Inc. (IRDM). Click either name above to swap in a different company.
Iridium Communications Inc. is the larger business by last-quarter revenue ($219.1M vs $141.8M, roughly 1.5× BLACKBERRY Ltd). Iridium Communications Inc. runs the higher net margin — 9.9% vs 9.7%, a 0.2% gap on every dollar of revenue. On growth, Iridium Communications Inc. posted the faster year-over-year revenue change (1.9% vs -0.8%). Over the past eight quarters, BLACKBERRY Ltd's revenue compounded faster (17.8% CAGR vs 4.4%).
BlackBerry Limited, formerly Research In Motion (RIM), is a Canadian software company specializing in secure communications and the Internet of Things (IoT). Founded in 1984, it developed the BlackBerry brand of two-way pagers, smartphones, and tablets. The company later transitioned to providing software and services and holds critical software application patents.
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...
BB vs IRDM — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $141.8M | $219.1M |
| Net Profit | $13.7M | $21.6M |
| Gross Margin | 77.5% | — |
| Operating Margin | 8.4% | 23.2% |
| Net Margin | 9.7% | 9.9% |
| Revenue YoY | -0.8% | 1.9% |
| Net Profit YoY | 224.5% | — |
| EPS (diluted) | $0.02 | — |
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 | $141.8M | $212.9M | ||
| Q3 25 | $129.6M | $226.9M | ||
| Q2 25 | $121.7M | $216.9M | ||
| Q1 25 | $141.7M | $214.9M | ||
| Q4 24 | $143.6M | $213.0M | ||
| Q3 24 | $126.2M | $212.8M | ||
| Q2 24 | $123.4M | $201.1M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $13.7M | $24.9M | ||
| Q3 25 | $13.3M | $37.1M | ||
| Q2 25 | $1.9M | $22.0M | ||
| Q1 25 | $-7.4M | $30.4M | ||
| Q4 24 | $-10.5M | $36.3M | ||
| Q3 24 | $-19.7M | $24.4M | ||
| Q2 24 | $-41.4M | $32.3M |
| Q1 26 | — | — | ||
| Q4 25 | 77.5% | — | ||
| Q3 25 | 74.5% | — | ||
| Q2 25 | 74.2% | — | ||
| Q1 25 | 73.5% | — | ||
| Q4 24 | 78.1% | — | ||
| Q3 24 | 70.2% | — | ||
| Q2 24 | 72.9% | — |
| Q1 26 | — | 23.2% | ||
| Q4 25 | 8.4% | 25.9% | ||
| Q3 25 | 8.9% | 30.9% | ||
| Q2 25 | 1.6% | 23.2% | ||
| Q1 25 | -5.6% | 28.1% | ||
| Q4 24 | 13.6% | 24.5% | ||
| Q3 24 | 1.7% | 25.8% | ||
| Q2 24 | -10.5% | 21.7% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | 9.7% | 11.7% | ||
| Q3 25 | 10.3% | 16.4% | ||
| Q2 25 | 1.6% | 10.1% | ||
| Q1 25 | -5.2% | 14.2% | ||
| Q4 24 | -7.3% | 17.1% | ||
| Q3 24 | -15.6% | 11.5% | ||
| Q2 24 | -33.5% | 16.1% |
| Q1 26 | — | — | ||
| Q4 25 | $0.02 | $0.24 | ||
| Q3 25 | $0.02 | $0.35 | ||
| Q2 25 | $0.00 | $0.20 | ||
| Q1 25 | $-0.01 | $0.27 | ||
| Q4 24 | $-0.02 | $0.30 | ||
| Q3 24 | $-0.03 | $0.21 | ||
| Q2 24 | $-0.07 | $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 | $304.2M | — |
| Total DebtLower is stronger | $196.2M | — |
| Stockholders' EquityBook value | $741.1M | — |
| Total Assets | $1.2B | — |
| Debt / EquityLower = less leverage | 0.26× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $304.2M | $96.5M | ||
| Q3 25 | $290.5M | $88.5M | ||
| Q2 25 | $306.6M | $79.3M | ||
| Q1 25 | $337.8M | $50.9M | ||
| Q4 24 | $220.0M | $93.5M | ||
| Q3 24 | $211.0M | $159.6M | ||
| Q2 24 | $229.0M | $63.5M |
| Q1 26 | — | — | ||
| Q4 25 | $196.2M | $1.8B | ||
| Q3 25 | $195.9M | — | ||
| Q2 25 | $195.6M | — | ||
| Q1 25 | $195.3M | — | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $741.1M | $462.6M | ||
| Q3 25 | $725.1M | $450.5M | ||
| Q2 25 | $725.1M | $473.6M | ||
| Q1 25 | $719.9M | $518.4M | ||
| Q4 24 | $725.2M | $576.6M | ||
| Q3 24 | $732.1M | $663.8M | ||
| Q2 24 | $742.6M | $786.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $2.5B | ||
| Q3 25 | $1.2B | $2.6B | ||
| Q2 25 | $1.2B | $2.6B | ||
| Q1 25 | $1.3B | $2.6B | ||
| Q4 24 | $1.3B | $2.7B | ||
| Q3 24 | $1.3B | $2.8B | ||
| Q2 24 | $1.3B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | 0.26× | 3.80× | ||
| Q3 25 | 0.27× | — | ||
| Q2 25 | 0.27× | — | ||
| Q1 25 | 0.27× | — | ||
| Q4 24 | — | 3.05× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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 | $18.3M | — |
| Free Cash FlowOCF − Capex | $17.4M | — |
| FCF MarginFCF / Revenue | 12.3% | — |
| Capex IntensityCapex / Revenue | 0.6% | 13.7% |
| Cash ConversionOCF / Net Profit | 1.34× | — |
| TTM Free Cash FlowTrailing 4 quarters | $42.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $18.3M | $108.6M | ||
| Q3 25 | $3.9M | $100.8M | ||
| Q2 25 | $-18.0M | $129.6M | ||
| Q1 25 | $41.6M | $61.1M | ||
| Q4 24 | $6.0M | $104.8M | ||
| Q3 24 | $-16.0M | $118.6M | ||
| Q2 24 | $-15.1M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $17.4M | $75.1M | ||
| Q3 25 | $3.1M | $79.2M | ||
| Q2 25 | $-18.9M | $108.9M | ||
| Q1 25 | $41.2M | $36.5M | ||
| Q4 24 | $5.2M | $80.5M | ||
| Q3 24 | $-16.5M | $100.0M | ||
| Q2 24 | $-16.5M | $68.7M |
| Q1 26 | — | — | ||
| Q4 25 | 12.3% | 35.3% | ||
| Q3 25 | 2.4% | 34.9% | ||
| Q2 25 | -15.5% | 50.2% | ||
| Q1 25 | 29.1% | 17.0% | ||
| Q4 24 | 3.6% | 37.8% | ||
| Q3 24 | -13.1% | 47.0% | ||
| Q2 24 | -13.4% | 34.2% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | 0.6% | 15.7% | ||
| Q3 25 | 0.6% | 9.5% | ||
| Q2 25 | 0.7% | 9.5% | ||
| Q1 25 | 0.3% | 11.4% | ||
| Q4 24 | 0.6% | 11.4% | ||
| Q3 24 | 0.4% | 8.7% | ||
| Q2 24 | 1.1% | 6.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.34× | 4.37× | ||
| Q3 25 | 0.29× | 2.71× | ||
| Q2 25 | -9.47× | 5.90× | ||
| Q1 25 | — | 2.01× | ||
| Q4 24 | — | 2.88× | ||
| Q3 24 | — | 4.85× | ||
| Q2 24 | — | 2.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BB
| QNX | $68.7M | 48% |
| Secure Communication | $67.0M | 47% |
| Licensing | $6.1M | 4% |
IRDM
| Voice and data | $57.4M | 26% |
| IoT data (2) | $46.0M | 21% |
| Government | $39.5M | 18% |
| Government service revenue (5) | $27.6M | 13% |
| Subscriber equipment | $20.2M | 9% |
| Hosted payload and other data service (4) | $14.8M | 7% |
| Broadband (3) | $12.2M | 6% |
| Commercial | $1.3M | 1% |
