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Side-by-side financial comparison of BLACKLINE, INC. (BL) 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 $183.2M, roughly 1.2× BLACKLINE, INC.). Iridium Communications Inc. runs the higher net margin — 9.9% vs 2.7%, a 7.2% gap on every dollar of revenue. On growth, BLACKLINE, INC. posted the faster year-over-year revenue change (8.1% vs 1.9%). Over the past eight quarters, BLACKLINE, INC.'s revenue compounded faster (7.9% CAGR vs 4.4%).
BlackLine Systems, Inc., is an American enterprise software company that develops cloud-based services designed to automate and manage the entire financial close process as well as consolidation, invoice-to-cash, and intercompany accounting. The Los Angeles–based company has 17 offices worldwide.
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...
BL vs IRDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $183.2M | $219.1M |
| Net Profit | $4.9M | $21.6M |
| Gross Margin | 75.2% | — |
| Operating Margin | 3.7% | 23.2% |
| Net Margin | 2.7% | 9.9% |
| Revenue YoY | 8.1% | 1.9% |
| Net Profit YoY | -91.3% | — |
| EPS (diluted) | $0.07 | — |
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 | $183.2M | $212.9M | ||
| Q3 25 | $178.3M | $226.9M | ||
| Q2 25 | $172.0M | $216.9M | ||
| Q1 25 | $166.9M | $214.9M | ||
| Q4 24 | $169.5M | $213.0M | ||
| Q3 24 | $165.9M | $212.8M | ||
| Q2 24 | $160.5M | $201.1M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $4.9M | $24.9M | ||
| Q3 25 | $5.3M | $37.1M | ||
| Q2 25 | $8.3M | $22.0M | ||
| Q1 25 | $6.1M | $30.4M | ||
| Q4 24 | $56.4M | $36.3M | ||
| Q3 24 | $17.2M | $24.4M | ||
| Q2 24 | $76.7M | $32.3M |
| Q1 26 | — | — | ||
| Q4 25 | 75.2% | — | ||
| Q3 25 | 75.1% | — | ||
| Q2 25 | 75.2% | — | ||
| Q1 25 | 75.5% | — | ||
| Q4 24 | 75.6% | — | ||
| Q3 24 | 75.2% | — | ||
| Q2 24 | 74.9% | — |
| Q1 26 | — | 23.2% | ||
| Q4 25 | 3.7% | 25.9% | ||
| Q3 25 | 4.3% | 30.9% | ||
| Q2 25 | 4.4% | 23.2% | ||
| Q1 25 | 2.1% | 28.1% | ||
| Q4 24 | 3.7% | 24.5% | ||
| Q3 24 | 5.0% | 25.8% | ||
| Q2 24 | 1.4% | 21.7% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | 2.7% | 11.7% | ||
| Q3 25 | 3.0% | 16.4% | ||
| Q2 25 | 4.8% | 10.1% | ||
| Q1 25 | 3.6% | 14.2% | ||
| Q4 24 | 33.3% | 17.1% | ||
| Q3 24 | 10.4% | 11.5% | ||
| Q2 24 | 47.8% | 16.1% |
| Q1 26 | — | — | ||
| Q4 25 | $0.07 | $0.24 | ||
| Q3 25 | $0.09 | $0.35 | ||
| Q2 25 | $0.13 | $0.20 | ||
| Q1 25 | $0.10 | $0.27 | ||
| Q4 24 | $0.79 | $0.30 | ||
| Q3 24 | $0.27 | $0.21 | ||
| Q2 24 | $0.22 | $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 | $390.0M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $332.3M | — |
| Total Assets | $1.8B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $390.0M | $96.5M | ||
| Q3 25 | $419.9M | $88.5M | ||
| Q2 25 | $459.1M | $79.3M | ||
| Q1 25 | $479.5M | $50.9M | ||
| Q4 24 | $885.9M | $93.5M | ||
| Q3 24 | $725.3M | $159.6M | ||
| Q2 24 | $616.6M | $63.5M |
| Q1 26 | — | — | ||
| Q4 25 | — | $1.8B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $332.3M | $462.6M | ||
| Q3 25 | $328.3M | $450.5M | ||
| Q2 25 | $414.0M | $473.6M | ||
| Q1 25 | $417.9M | $518.4M | ||
| Q4 24 | $446.7M | $576.6M | ||
| Q3 24 | $367.9M | $663.8M | ||
| Q2 24 | $325.8M | $786.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $2.5B | ||
| Q3 25 | $1.7B | $2.6B | ||
| Q2 25 | $1.8B | $2.6B | ||
| Q1 25 | $1.8B | $2.6B | ||
| Q4 24 | $1.8B | $2.7B | ||
| Q3 24 | $1.7B | $2.8B | ||
| Q2 24 | $1.9B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.80× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| 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 | $26.7M | — |
| Free Cash FlowOCF − Capex | $26.1M | — |
| FCF MarginFCF / Revenue | 14.2% | — |
| Capex IntensityCapex / Revenue | 0.3% | 13.7% |
| Cash ConversionOCF / Net Profit | 5.46× | — |
| TTM Free Cash FlowTrailing 4 quarters | $161.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $26.7M | $108.6M | ||
| Q3 25 | $63.8M | $100.8M | ||
| Q2 25 | $32.3M | $129.6M | ||
| Q1 25 | $46.7M | $61.1M | ||
| Q4 24 | $43.8M | $104.8M | ||
| Q3 24 | $55.9M | $118.6M | ||
| Q2 24 | $40.7M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $26.1M | $75.1M | ||
| Q3 25 | $63.3M | $79.2M | ||
| Q2 25 | $31.4M | $108.9M | ||
| Q1 25 | $40.8M | $36.5M | ||
| Q4 24 | $43.0M | $80.5M | ||
| Q3 24 | $55.5M | $100.0M | ||
| Q2 24 | $40.0M | $68.7M |
| Q1 26 | — | — | ||
| Q4 25 | 14.2% | 35.3% | ||
| Q3 25 | 35.5% | 34.9% | ||
| Q2 25 | 18.2% | 50.2% | ||
| Q1 25 | 24.4% | 17.0% | ||
| Q4 24 | 25.4% | 37.8% | ||
| Q3 24 | 33.5% | 47.0% | ||
| Q2 24 | 24.9% | 34.2% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | 0.3% | 15.7% | ||
| Q3 25 | 0.3% | 9.5% | ||
| Q2 25 | 0.6% | 9.5% | ||
| Q1 25 | 3.6% | 11.4% | ||
| Q4 24 | 0.4% | 11.4% | ||
| Q3 24 | 0.2% | 8.7% | ||
| Q2 24 | 0.4% | 6.2% |
| Q1 26 | — | — | ||
| Q4 25 | 5.46× | 4.37× | ||
| Q3 25 | 12.07× | 2.71× | ||
| Q2 25 | 3.90× | 5.90× | ||
| Q1 25 | 7.72× | 2.01× | ||
| Q4 24 | 0.78× | 2.88× | ||
| Q3 24 | 3.24× | 4.85× | ||
| Q2 24 | 0.53× | 2.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BL
| Subscription And Circulation | $173.2M | 95% |
| Technology Service | $10.0M | 5% |
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% |
