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Side-by-side financial comparison of COGENT COMMUNICATIONS HOLDINGS, INC. (CCOI) and Iridium Communications Inc. (IRDM). Click either name above to swap in a different company.
COGENT COMMUNICATIONS HOLDINGS, INC. is the larger business by last-quarter revenue ($240.5M vs $219.1M, roughly 1.1× Iridium Communications Inc.). Iridium Communications Inc. runs the higher net margin — 9.9% vs -12.8%, a 22.7% gap on every dollar of revenue. On growth, Iridium Communications Inc. posted the faster year-over-year revenue change (1.9% vs -4.7%). Over the past eight quarters, Iridium Communications Inc.'s revenue compounded faster (4.4% CAGR vs -4.9%).
Cogent Communications Holdings, Inc. is a multinational internet service provider based in the United States. Cogent's primary services consist of Internet access and data transport, offered on a fiber optic, IP data-only network, along with colocation in data centers.
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...
CCOI vs IRDM — Head-to-Head
Income Statement — Q4 2025 vs Q1 2026
| Metric | | |
|---|---|---|
| Revenue | $240.5M | $219.1M |
| Net Profit | $-30.8M | $21.6M |
| Gross Margin | 46.6% | — |
| Operating Margin | -4.7% | 23.2% |
| Net Margin | -12.8% | 9.9% |
| Revenue YoY | -4.7% | 1.9% |
| Net Profit YoY | 28.9% | -29.0% |
| EPS (diluted) | $-0.63 | — |
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 | $240.5M | $212.9M | ||
| Q3 25 | $241.9M | $226.9M | ||
| Q2 25 | $246.2M | $216.9M | ||
| Q1 25 | $247.0M | $214.9M | ||
| Q4 24 | $252.3M | $213.0M | ||
| Q3 24 | $257.2M | $212.8M | ||
| Q2 24 | $260.4M | $201.1M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $-30.8M | $24.9M | ||
| Q3 25 | $-41.5M | $37.1M | ||
| Q2 25 | $-57.8M | $22.0M | ||
| Q1 25 | $-52.0M | $30.4M | ||
| Q4 24 | $-43.3M | $36.3M | ||
| Q3 24 | $-63.1M | $24.4M | ||
| Q2 24 | $-32.3M | $32.3M |
| Q1 26 | — | — | ||
| Q4 25 | 46.6% | — | ||
| Q3 25 | 45.6% | — | ||
| Q2 25 | 44.2% | — | ||
| Q1 25 | 44.4% | — | ||
| Q4 24 | 38.5% | — | ||
| Q3 24 | 37.2% | — | ||
| Q2 24 | 40.0% | — |
| Q1 26 | — | 23.2% | ||
| Q4 25 | -4.7% | 25.9% | ||
| Q3 25 | -7.5% | 30.9% | ||
| Q2 25 | -12.8% | 23.2% | ||
| Q1 25 | -16.3% | 28.1% | ||
| Q4 24 | -13.2% | 24.5% | ||
| Q3 24 | -22.5% | 25.8% | ||
| Q2 24 | -18.1% | 21.7% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | -12.8% | 11.7% | ||
| Q3 25 | -17.2% | 16.4% | ||
| Q2 25 | -23.5% | 10.1% | ||
| Q1 25 | -21.1% | 14.2% | ||
| Q4 24 | -17.2% | 17.1% | ||
| Q3 24 | -24.5% | 11.5% | ||
| Q2 24 | -12.4% | 16.1% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.63 | $0.24 | ||
| Q3 25 | $-0.87 | $0.35 | ||
| Q2 25 | $-1.21 | $0.20 | ||
| Q1 25 | $-1.09 | $0.27 | ||
| Q4 24 | $-0.89 | $0.30 | ||
| Q3 24 | $-1.33 | $0.21 | ||
| Q2 24 | $-0.68 | $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 | $148.5M | — |
| Total DebtLower is stronger | $1.7B | — |
| Stockholders' EquityBook value | $-63.8M | — |
| Total Assets | $3.1B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $148.5M | $96.5M | ||
| Q3 25 | $147.1M | $88.5M | ||
| Q2 25 | $213.7M | $79.3M | ||
| Q1 25 | $153.8M | $50.9M | ||
| Q4 24 | $198.5M | $93.5M | ||
| Q3 24 | $279.2M | $159.6M | ||
| Q2 24 | $384.4M | $63.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.7B | $1.8B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.5B | $1.8B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $-63.8M | $462.6M | ||
| Q3 25 | $-39.2M | $450.5M | ||
| Q2 25 | $46.7M | $473.6M | ||
| Q1 25 | $142.8M | $518.4M | ||
| Q4 24 | $222.8M | $576.6M | ||
| Q3 24 | $323.6M | $663.8M | ||
| Q2 24 | $415.5M | $786.7M |
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $2.5B | ||
| Q3 25 | $3.1B | $2.6B | ||
| Q2 25 | $3.3B | $2.6B | ||
| Q1 25 | $3.1B | $2.6B | ||
| Q4 24 | $3.2B | $2.7B | ||
| Q3 24 | $3.2B | $2.8B | ||
| Q2 24 | $3.3B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | — | 3.80× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 6.53× | 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 | $-6.0M | — |
| Free Cash FlowOCF − Capex | $-43.0M | — |
| FCF MarginFCF / Revenue | -17.9% | — |
| Capex IntensityCapex / Revenue | 15.4% | 13.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-198.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $-6.0M | $108.6M | ||
| Q3 25 | $3.1M | $100.8M | ||
| Q2 25 | $-44.0M | $129.6M | ||
| Q1 25 | $36.4M | $61.1M | ||
| Q4 24 | $14.5M | $104.8M | ||
| Q3 24 | $-20.2M | $118.6M | ||
| Q2 24 | $-22.2M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $-43.0M | $75.1M | ||
| Q3 25 | $-33.1M | $79.2M | ||
| Q2 25 | $-100.2M | $108.9M | ||
| Q1 25 | $-21.7M | $36.5M | ||
| Q4 24 | $-31.6M | $80.5M | ||
| Q3 24 | $-79.5M | $100.0M | ||
| Q2 24 | $-70.9M | $68.7M |
| Q1 26 | — | — | ||
| Q4 25 | -17.9% | 35.3% | ||
| Q3 25 | -13.7% | 34.9% | ||
| Q2 25 | -40.7% | 50.2% | ||
| Q1 25 | -8.8% | 17.0% | ||
| Q4 24 | -12.5% | 37.8% | ||
| Q3 24 | -30.9% | 47.0% | ||
| Q2 24 | -27.2% | 34.2% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | 15.4% | 15.7% | ||
| Q3 25 | 15.0% | 9.5% | ||
| Q2 25 | 22.8% | 9.5% | ||
| Q1 25 | 23.5% | 11.4% | ||
| Q4 24 | 18.3% | 11.4% | ||
| Q3 24 | 23.0% | 8.7% | ||
| Q2 24 | 18.7% | 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
CCOI
Segment breakdown not available.
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% |
