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Side-by-side financial comparison of BRC Inc. (BRCC) 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 $112.7M, roughly 1.9× BRC Inc.). Iridium Communications Inc. runs the higher net margin — 9.9% vs -2.8%, a 12.7% gap on every dollar of revenue. On growth, BRC Inc. posted the faster year-over-year revenue change (6.5% vs 1.9%). Over the past eight quarters, BRC Inc.'s revenue compounded faster (7.0% CAGR vs 4.4%).
BRC Inc., operating under the Black Rifle Coffee brand, is a U.S.-headquartered premium coffee and lifestyle brand. It sells roasted coffee beans, ready-to-drink coffee products, branded apparel, and outdoor gear, targeting primarily veteran, first responder, and outdoor enthusiast consumer segments across North America, via both e-commerce and physical retail channels.
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...
BRCC vs IRDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $112.7M | $219.1M |
| Net Profit | $-3.2M | $21.6M |
| Gross Margin | 32.1% | — |
| Operating Margin | -6.3% | 23.2% |
| Net Margin | -2.8% | 9.9% |
| Revenue YoY | 6.5% | 1.9% |
| Net Profit YoY | -29.3% | — |
| 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 | $112.7M | $212.9M | ||
| Q3 25 | $100.7M | $226.9M | ||
| Q2 25 | $94.8M | $216.9M | ||
| Q1 25 | $90.0M | $214.9M | ||
| Q4 24 | $105.9M | $213.0M | ||
| Q3 24 | $98.2M | $212.8M | ||
| Q2 24 | $89.0M | $201.1M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $-3.2M | $24.9M | ||
| Q3 25 | $-486.0K | $37.1M | ||
| Q2 25 | $-5.3M | $22.0M | ||
| Q1 25 | $-2.9M | $30.4M | ||
| Q4 24 | $-2.5M | $36.3M | ||
| Q3 24 | $-535.0K | $24.4M | ||
| Q2 24 | $-482.0K | $32.3M |
| Q1 26 | — | — | ||
| Q4 25 | 32.1% | — | ||
| Q3 25 | 36.9% | — | ||
| Q2 25 | 33.9% | — | ||
| Q1 25 | 36.1% | — | ||
| Q4 24 | 38.1% | — | ||
| Q3 24 | 42.1% | — | ||
| Q2 24 | 41.9% | — |
| Q1 26 | — | 23.2% | ||
| Q4 25 | -6.3% | 25.9% | ||
| Q3 25 | 0.5% | 30.9% | ||
| Q2 25 | -13.3% | 23.2% | ||
| Q1 25 | -6.0% | 28.1% | ||
| Q4 24 | -2.1% | 24.5% | ||
| Q3 24 | 1.1% | 25.8% | ||
| Q2 24 | 1.1% | 21.7% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | -2.8% | 11.7% | ||
| Q3 25 | -0.5% | 16.4% | ||
| Q2 25 | -5.6% | 10.1% | ||
| Q1 25 | -3.2% | 14.2% | ||
| Q4 24 | -2.3% | 17.1% | ||
| Q3 24 | -0.5% | 11.5% | ||
| Q2 24 | -0.5% | 16.1% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.02 | $0.24 | ||
| Q3 25 | $0.00 | $0.35 | ||
| Q2 25 | $-0.07 | $0.20 | ||
| Q1 25 | $-0.04 | $0.27 | ||
| Q4 24 | $-0.03 | $0.30 | ||
| Q3 24 | $-0.01 | $0.21 | ||
| Q2 24 | $-0.01 | $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 | $4.3M | — |
| Total DebtLower is stronger | $34.7M | — |
| Stockholders' EquityBook value | $45.7M | — |
| Total Assets | $209.2M | — |
| Debt / EquityLower = less leverage | 0.76× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $4.3M | $96.5M | ||
| Q3 25 | $9.5M | $88.5M | ||
| Q2 25 | $4.3M | $79.3M | ||
| Q1 25 | $3.9M | $50.9M | ||
| Q4 24 | $6.8M | $93.5M | ||
| Q3 24 | $7.3M | $159.6M | ||
| Q2 24 | $9.6M | $63.5M |
| Q1 26 | — | — | ||
| Q4 25 | $34.7M | $1.8B | ||
| Q3 25 | $35.0M | — | ||
| Q2 25 | $72.7M | — | ||
| Q1 25 | $68.8M | — | ||
| Q4 24 | $65.1M | $1.8B | ||
| Q3 24 | $64.9M | — | ||
| Q2 24 | $66.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | $45.7M | $462.6M | ||
| Q3 25 | $48.0M | $450.5M | ||
| Q2 25 | $10.1M | $473.6M | ||
| Q1 25 | $11.2M | $518.4M | ||
| Q4 24 | $13.2M | $576.6M | ||
| Q3 24 | $14.5M | $663.8M | ||
| Q2 24 | $14.9M | $786.7M |
| Q1 26 | — | — | ||
| Q4 25 | $209.2M | $2.5B | ||
| Q3 25 | $222.4M | $2.6B | ||
| Q2 25 | $225.3M | $2.6B | ||
| Q1 25 | $222.9M | $2.6B | ||
| Q4 24 | $227.4M | $2.7B | ||
| Q3 24 | $233.7M | $2.8B | ||
| Q2 24 | $229.9M | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | 0.76× | 3.80× | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 7.19× | — | ||
| Q1 25 | 6.15× | — | ||
| Q4 24 | 4.94× | 3.05× | ||
| Q3 24 | 4.47× | — | ||
| Q2 24 | 4.46× | — |
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 | $-8.7M | — |
| Free Cash FlowOCF − Capex | $-9.4M | — |
| FCF MarginFCF / Revenue | -8.3% | — |
| Capex IntensityCapex / Revenue | 0.6% | 13.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-13.5M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-8.7M | $108.6M | ||
| Q3 25 | $6.4M | $100.8M | ||
| Q2 25 | $-3.3M | $129.6M | ||
| Q1 25 | $-4.1M | $61.1M | ||
| Q4 24 | $2.2M | $104.8M | ||
| Q3 24 | $1.9M | $118.6M | ||
| Q2 24 | $2.3M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $-9.4M | $75.1M | ||
| Q3 25 | $5.6M | $79.2M | ||
| Q2 25 | $-4.3M | $108.9M | ||
| Q1 25 | $-5.3M | $36.5M | ||
| Q4 24 | $504.0K | $80.5M | ||
| Q3 24 | $-205.0K | $100.0M | ||
| Q2 24 | $147.0K | $68.7M |
| Q1 26 | — | — | ||
| Q4 25 | -8.3% | 35.3% | ||
| Q3 25 | 5.5% | 34.9% | ||
| Q2 25 | -4.5% | 50.2% | ||
| Q1 25 | -5.9% | 17.0% | ||
| Q4 24 | 0.5% | 37.8% | ||
| Q3 24 | -0.2% | 47.0% | ||
| Q2 24 | 0.2% | 34.2% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | 0.6% | 15.7% | ||
| Q3 25 | 0.8% | 9.5% | ||
| Q2 25 | 1.0% | 9.5% | ||
| Q1 25 | 1.3% | 11.4% | ||
| Q4 24 | 1.6% | 11.4% | ||
| Q3 24 | 2.2% | 8.7% | ||
| Q2 24 | 2.4% | 6.2% |
| Q1 26 | — | — | ||
| Q4 25 | — | 4.37× | ||
| Q3 25 | — | 2.71× | ||
| Q2 25 | — | 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
BRCC
| Sales Channel Through Intermediary | $72.9M | 65% |
| Sales Channel Directly To Consumer | $34.4M | 31% |
| Outpost | $5.4M | 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% |
