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Side-by-side financial comparison of CORVEL CORP (CRVL) and Iridium Communications Inc. (IRDM). Click either name above to swap in a different company.
CORVEL CORP is the larger business by last-quarter revenue ($235.6M vs $219.1M, roughly 1.1× Iridium Communications Inc.). CORVEL CORP runs the higher net margin — 10.3% vs 9.9%, a 0.4% gap on every dollar of revenue. On growth, CORVEL CORP posted the faster year-over-year revenue change (3.4% vs 1.9%). Over the past eight quarters, CORVEL CORP's revenue compounded faster (6.6% CAGR vs 4.4%).
Corvel Corp is a U.S.-headquartered provider of integrated workers’ compensation, healthcare management, and risk mitigation solutions. It serves insurance carriers, self-insured employers, and public sector clients, delivering services to control healthcare costs, improve care outcomes, and optimize administrative operations.
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...
CRVL vs IRDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $235.6M | $219.1M |
| Net Profit | $24.2M | $21.6M |
| Gross Margin | 23.3% | — |
| Operating Margin | 13.7% | 23.2% |
| Net Margin | 10.3% | 9.9% |
| Revenue YoY | 3.4% | 1.9% |
| Net Profit YoY | 1.7% | — |
| EPS (diluted) | $0.47 | — |
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 | $235.6M | $212.9M | ||
| Q3 25 | $239.6M | $226.9M | ||
| Q2 25 | $234.7M | $216.9M | ||
| Q1 25 | $231.5M | $214.9M | ||
| Q4 24 | $228.0M | $213.0M | ||
| Q3 24 | $224.4M | $212.8M | ||
| Q2 24 | $211.7M | $201.1M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $24.2M | $24.9M | ||
| Q3 25 | $27.9M | $37.1M | ||
| Q2 25 | $27.2M | $22.0M | ||
| Q1 25 | $26.4M | $30.4M | ||
| Q4 24 | $23.8M | $36.3M | ||
| Q3 24 | $23.4M | $24.4M | ||
| Q2 24 | $21.6M | $32.3M |
| Q1 26 | — | — | ||
| Q4 25 | 23.3% | — | ||
| Q3 25 | 24.3% | — | ||
| Q2 25 | 24.2% | — | ||
| Q1 25 | 25.0% | — | ||
| Q4 24 | 23.2% | — | ||
| Q3 24 | 22.6% | — | ||
| Q2 24 | 22.7% | — |
| Q1 26 | — | 23.2% | ||
| Q4 25 | 13.7% | 25.9% | ||
| Q3 25 | 15.0% | 30.9% | ||
| Q2 25 | 15.0% | 23.2% | ||
| Q1 25 | 14.4% | 28.1% | ||
| Q4 24 | 13.5% | 24.5% | ||
| Q3 24 | 12.8% | 25.8% | ||
| Q2 24 | 13.2% | 21.7% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | 10.3% | 11.7% | ||
| Q3 25 | 11.6% | 16.4% | ||
| Q2 25 | 11.6% | 10.1% | ||
| Q1 25 | 11.4% | 14.2% | ||
| Q4 24 | 10.4% | 17.1% | ||
| Q3 24 | 10.4% | 11.5% | ||
| Q2 24 | 10.2% | 16.1% |
| Q1 26 | — | — | ||
| Q4 25 | $0.47 | $0.24 | ||
| Q3 25 | $0.54 | $0.35 | ||
| Q2 25 | $0.52 | $0.20 | ||
| Q1 25 | $-1.23 | $0.27 | ||
| Q4 24 | $0.46 | $0.30 | ||
| Q3 24 | $1.35 | $0.21 | ||
| Q2 24 | $1.25 | $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 | $230.0M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $375.7M | — |
| Total Assets | $644.8M | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $230.0M | $96.5M | ||
| Q3 25 | $207.5M | $88.5M | ||
| Q2 25 | $202.0M | $79.3M | ||
| Q1 25 | $170.6M | $50.9M | ||
| Q4 24 | $162.9M | $93.5M | ||
| Q3 24 | $138.3M | $159.6M | ||
| Q2 24 | $131.9M | $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 | $375.7M | $462.6M | ||
| Q3 25 | $362.8M | $450.5M | ||
| Q2 25 | $342.5M | $473.6M | ||
| Q1 25 | $322.0M | $518.4M | ||
| Q4 24 | $300.9M | $576.6M | ||
| Q3 24 | $282.8M | $663.8M | ||
| Q2 24 | $263.9M | $786.7M |
| Q1 26 | — | — | ||
| Q4 25 | $644.8M | $2.5B | ||
| Q3 25 | $611.7M | $2.6B | ||
| Q2 25 | $597.4M | $2.6B | ||
| Q1 25 | $546.0M | $2.6B | ||
| Q4 24 | $538.8M | $2.7B | ||
| Q3 24 | $518.6M | $2.8B | ||
| Q2 24 | $486.2M | $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 | $46.1M | — |
| Free Cash FlowOCF − Capex | $35.2M | — |
| FCF MarginFCF / Revenue | 14.9% | — |
| Capex IntensityCapex / Revenue | 4.7% | 13.7% |
| Cash ConversionOCF / Net Profit | 1.91× | — |
| TTM Free Cash FlowTrailing 4 quarters | $104.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $46.1M | $108.6M | ||
| Q3 25 | $25.0M | $100.8M | ||
| Q2 25 | $55.0M | $129.6M | ||
| Q1 25 | $22.9M | $61.1M | ||
| Q4 24 | $41.6M | $104.8M | ||
| Q3 24 | $22.3M | $118.6M | ||
| Q2 24 | $40.4M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $35.2M | $75.1M | ||
| Q3 25 | $15.3M | $79.2M | ||
| Q2 25 | $39.5M | $108.9M | ||
| Q1 25 | $14.3M | $36.5M | ||
| Q4 24 | $32.1M | $80.5M | ||
| Q3 24 | $12.4M | $100.0M | ||
| Q2 24 | $32.8M | $68.7M |
| Q1 26 | — | — | ||
| Q4 25 | 14.9% | 35.3% | ||
| Q3 25 | 6.4% | 34.9% | ||
| Q2 25 | 16.8% | 50.2% | ||
| Q1 25 | 6.2% | 17.0% | ||
| Q4 24 | 14.1% | 37.8% | ||
| Q3 24 | 5.5% | 47.0% | ||
| Q2 24 | 15.5% | 34.2% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | 4.7% | 15.7% | ||
| Q3 25 | 4.1% | 9.5% | ||
| Q2 25 | 6.6% | 9.5% | ||
| Q1 25 | 3.7% | 11.4% | ||
| Q4 24 | 4.2% | 11.4% | ||
| Q3 24 | 4.4% | 8.7% | ||
| Q2 24 | 3.6% | 6.2% |
| Q1 26 | — | — | ||
| Q4 25 | 1.91× | 4.37× | ||
| Q3 25 | 0.90× | 2.71× | ||
| Q2 25 | 2.02× | 5.90× | ||
| Q1 25 | 0.87× | 2.01× | ||
| Q4 24 | 1.75× | 2.88× | ||
| Q3 24 | 0.95× | 4.85× | ||
| Q2 24 | 1.87× | 2.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRVL
| Patient Management Services | $146.1M | 62% |
| Network Solutions Services | $89.6M | 38% |
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% |
