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Side-by-side financial comparison of Confluent, Inc. (CFLT) and Iridium Communications Inc. (IRDM). Click either name above to swap in a different company.
Confluent, Inc. is the larger business by last-quarter revenue ($314.8M vs $219.1M, roughly 1.4× Iridium Communications Inc.). Iridium Communications Inc. runs the higher net margin — 9.9% vs -25.2%, a 35.0% gap on every dollar of revenue. On growth, Confluent, Inc. posted the faster year-over-year revenue change (20.5% vs 1.9%). Over the past eight quarters, Confluent, Inc.'s revenue compounded faster (20.4% CAGR vs 4.4%).
Confluent, Inc. is an American technology company headquartered in Mountain View, California. Confluent was founded by Jay Kreps, Jun Rao and Neha Narkhede on September 23, 2014, in order to commercialize an open-source streaming platform Apache Kafka, created by the same founders while working at LinkedIn in 2008 as a B2B infrastructure company. Confluent's products are the Confluent Cloud, Confluent Platform, Connectors, Apache Flink, Stream Governance and Confluent Hub.
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...
CFLT vs IRDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $314.8M | $219.1M |
| Net Profit | $-79.2M | $21.6M |
| Gross Margin | 74.7% | — |
| Operating Margin | -31.5% | 23.2% |
| Net Margin | -25.2% | 9.9% |
| Revenue YoY | 20.5% | 1.9% |
| Net Profit YoY | 10.0% | — |
| EPS (diluted) | $-0.23 | — |
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 | $314.8M | $212.9M | ||
| Q3 25 | $298.5M | $226.9M | ||
| Q2 25 | $282.3M | $216.9M | ||
| Q1 25 | $271.1M | $214.9M | ||
| Q4 24 | $261.2M | $213.0M | ||
| Q3 24 | $250.2M | $212.8M | ||
| Q2 24 | $235.0M | $201.1M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $-79.2M | $24.9M | ||
| Q3 25 | $-66.5M | $37.1M | ||
| Q2 25 | $-82.0M | $22.0M | ||
| Q1 25 | $-67.6M | $30.4M | ||
| Q4 24 | $-88.1M | $36.3M | ||
| Q3 24 | $-74.1M | $24.4M | ||
| Q2 24 | $-89.9M | $32.3M |
| Q1 26 | — | — | ||
| Q4 25 | 74.7% | — | ||
| Q3 25 | 74.2% | — | ||
| Q2 25 | 73.7% | — | ||
| Q1 25 | 74.5% | — | ||
| Q4 24 | 74.1% | — | ||
| Q3 24 | 74.5% | — | ||
| Q2 24 | 72.3% | — |
| Q1 26 | — | 23.2% | ||
| Q4 25 | -31.5% | 25.9% | ||
| Q3 25 | -27.9% | 30.9% | ||
| Q2 25 | -34.2% | 23.2% | ||
| Q1 25 | -37.3% | 28.1% | ||
| Q4 24 | -40.5% | 24.5% | ||
| Q3 24 | -37.4% | 25.8% | ||
| Q2 24 | -46.1% | 21.7% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | -25.2% | 11.7% | ||
| Q3 25 | -22.3% | 16.4% | ||
| Q2 25 | -29.0% | 10.1% | ||
| Q1 25 | -24.9% | 14.2% | ||
| Q4 24 | -33.7% | 17.1% | ||
| Q3 24 | -29.6% | 11.5% | ||
| Q2 24 | -38.3% | 16.1% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.23 | $0.24 | ||
| Q3 25 | $-0.19 | $0.35 | ||
| Q2 25 | $-0.24 | $0.20 | ||
| Q1 25 | $-0.20 | $0.27 | ||
| Q4 24 | $-0.26 | $0.30 | ||
| Q3 24 | $-0.23 | $0.21 | ||
| Q2 24 | $-0.28 | $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 | $347.2M | — |
| Total DebtLower is stronger | $1.1B | — |
| Stockholders' EquityBook value | $1.2B | — |
| Total Assets | $3.0B | — |
| Debt / EquityLower = less leverage | 0.94× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $347.2M | $96.5M | ||
| Q3 25 | $298.5M | $88.5M | ||
| Q2 25 | $295.6M | $79.3M | ||
| Q1 25 | $278.6M | $50.9M | ||
| Q4 24 | $386.0M | $93.5M | ||
| Q3 24 | $322.6M | $159.6M | ||
| Q2 24 | $311.3M | $63.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.1B | $1.8B | ||
| Q3 25 | $1.1B | — | ||
| Q2 25 | $1.1B | — | ||
| Q1 25 | $1.1B | — | ||
| Q4 24 | $1.1B | $1.8B | ||
| Q3 24 | $1.1B | — | ||
| Q2 24 | $1.1B | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $462.6M | ||
| Q3 25 | $1.1B | $450.5M | ||
| Q2 25 | $1.1B | $473.6M | ||
| Q1 25 | $1.0B | $518.4M | ||
| Q4 24 | $961.2M | $576.6M | ||
| Q3 24 | $934.3M | $663.8M | ||
| Q2 24 | $873.9M | $786.7M |
| Q1 26 | — | — | ||
| Q4 25 | $3.0B | $2.5B | ||
| Q3 25 | $2.9B | $2.6B | ||
| Q2 25 | $2.8B | $2.6B | ||
| Q1 25 | $2.7B | $2.6B | ||
| Q4 24 | $2.7B | $2.7B | ||
| Q3 24 | $2.6B | $2.8B | ||
| Q2 24 | $2.5B | $2.7B |
| Q1 26 | — | — | ||
| Q4 25 | 0.94× | 3.80× | ||
| Q3 25 | 0.98× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 1.07× | — | ||
| Q4 24 | 1.14× | 3.05× | ||
| Q3 24 | 1.17× | — | ||
| Q2 24 | 1.25× | — |
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 | $42.1M | — |
| Free Cash FlowOCF − Capex | $41.7M | — |
| FCF MarginFCF / Revenue | 13.2% | — |
| Capex IntensityCapex / Revenue | 0.1% | 13.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $60.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $42.1M | $108.6M | ||
| Q3 25 | $30.8M | $100.8M | ||
| Q2 25 | $18.1M | $129.6M | ||
| Q1 25 | $-26.8M | $61.1M | ||
| Q4 24 | $35.2M | $104.8M | ||
| Q3 24 | $15.6M | $118.6M | ||
| Q2 24 | $8.6M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $41.7M | $75.1M | ||
| Q3 25 | $30.0M | $79.2M | ||
| Q2 25 | $17.2M | $108.9M | ||
| Q1 25 | $-28.2M | $36.5M | ||
| Q4 24 | $34.5M | $80.5M | ||
| Q3 24 | $15.0M | $100.0M | ||
| Q2 24 | $7.5M | $68.7M |
| Q1 26 | — | — | ||
| Q4 25 | 13.2% | 35.3% | ||
| Q3 25 | 10.0% | 34.9% | ||
| Q2 25 | 6.1% | 50.2% | ||
| Q1 25 | -10.4% | 17.0% | ||
| Q4 24 | 13.2% | 37.8% | ||
| Q3 24 | 6.0% | 47.0% | ||
| Q2 24 | 3.2% | 34.2% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | 0.1% | 15.7% | ||
| Q3 25 | 0.3% | 9.5% | ||
| Q2 25 | 0.3% | 9.5% | ||
| Q1 25 | 0.5% | 11.4% | ||
| Q4 24 | 0.3% | 11.4% | ||
| Q3 24 | 0.2% | 8.7% | ||
| Q2 24 | 0.5% | 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
CFLT
| Confluent Cloud | $169.4M | 54% |
| Post Contract Customer Support | $93.8M | 30% |
| License | $38.4M | 12% |
| Services | $13.2M | 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% |
