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Side-by-side financial comparison of EVgo Inc. (EVGO) 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 $118.5M, roughly 1.8× EVgo Inc.). Iridium Communications Inc. runs the higher net margin — 9.9% vs -4.1%, a 13.9% gap on every dollar of revenue. On growth, EVgo Inc. posted the faster year-over-year revenue change (75.5% vs 1.9%). Over the past eight quarters, EVgo Inc.'s revenue compounded faster (46.6% CAGR vs 4.4%).
EVgo Inc. is an electric vehicle fast charging network in the United States, with more than 950 charging locations as of August 2023. The company's charge stations are located in 35 states and are compatible with all major auto manufacturers.
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...
EVGO vs IRDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $118.5M | $219.1M |
| Net Profit | $-4.8M | $21.6M |
| Gross Margin | 38.0% | — |
| Operating Margin | -10.4% | 23.2% |
| Net Margin | -4.1% | 9.9% |
| Revenue YoY | 75.5% | 1.9% |
| Net Profit YoY | 61.1% | — |
| EPS (diluted) | $-0.03 | — |
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 | $118.5M | $212.9M | ||
| Q3 25 | $92.3M | $226.9M | ||
| Q2 25 | $98.0M | $216.9M | ||
| Q1 25 | $75.3M | $214.9M | ||
| Q4 24 | $67.5M | $213.0M | ||
| Q3 24 | $67.5M | $212.8M | ||
| Q2 24 | $66.6M | $201.1M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $-4.8M | $24.9M | ||
| Q3 25 | $-12.4M | $37.1M | ||
| Q2 25 | $-13.0M | $22.0M | ||
| Q1 25 | $-11.4M | $30.4M | ||
| Q4 24 | $-12.4M | $36.3M | ||
| Q3 24 | $-11.7M | $24.4M | ||
| Q2 24 | $-10.4M | $32.3M |
| Q1 26 | — | — | ||
| Q4 25 | 38.0% | — | ||
| Q3 25 | 13.6% | — | ||
| Q2 25 | 14.2% | — | ||
| Q1 25 | 12.4% | — | ||
| Q4 24 | 14.5% | — | ||
| Q3 24 | 9.4% | — | ||
| Q2 24 | 9.6% | — |
| Q1 26 | — | 23.2% | ||
| Q4 25 | -10.4% | 25.9% | ||
| Q3 25 | -36.9% | 30.9% | ||
| Q2 25 | -31.4% | 23.2% | ||
| Q1 25 | -44.4% | 28.1% | ||
| Q4 24 | -51.9% | 24.5% | ||
| Q3 24 | -47.1% | 25.8% | ||
| Q2 24 | -48.6% | 21.7% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | -4.1% | 11.7% | ||
| Q3 25 | -13.4% | 16.4% | ||
| Q2 25 | -13.3% | 10.1% | ||
| Q1 25 | -15.1% | 14.2% | ||
| Q4 24 | -18.4% | 17.1% | ||
| Q3 24 | -17.3% | 11.5% | ||
| Q2 24 | -15.6% | 16.1% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.03 | $0.24 | ||
| Q3 25 | $-0.09 | $0.35 | ||
| Q2 25 | $-0.10 | $0.20 | ||
| Q1 25 | $-0.09 | $0.27 | ||
| Q4 24 | $-0.11 | $0.30 | ||
| Q3 24 | $-0.11 | $0.21 | ||
| Q2 24 | $-0.10 | $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 | $151.0M | — |
| Total DebtLower is stronger | $206.5M | — |
| Stockholders' EquityBook value | $-116.9M | — |
| Total Assets | $964.8M | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $151.0M | $96.5M | ||
| Q3 25 | $181.3M | $88.5M | ||
| Q2 25 | $154.5M | $79.3M | ||
| Q1 25 | $150.0M | $50.9M | ||
| Q4 24 | $117.3M | $93.5M | ||
| Q3 24 | $141.9M | $159.6M | ||
| Q2 24 | $162.3M | $63.5M |
| Q1 26 | — | — | ||
| Q4 25 | $206.5M | $1.8B | ||
| Q3 25 | $157.3M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $1.8B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $-116.9M | $462.6M | ||
| Q3 25 | $-428.1M | $450.5M | ||
| Q2 25 | $-230.1M | $473.6M | ||
| Q1 25 | $-36.8M | $518.4M | ||
| Q4 24 | $-256.1M | $576.6M | ||
| Q3 24 | $-344.8M | $663.8M | ||
| Q2 24 | $13.6M | $786.7M |
| Q1 26 | — | — | ||
| Q4 25 | $964.8M | $2.5B | ||
| Q3 25 | $931.8M | $2.6B | ||
| Q2 25 | $864.7M | $2.6B | ||
| Q1 25 | $856.0M | $2.6B | ||
| Q4 24 | $803.8M | $2.7B | ||
| Q3 24 | $791.7M | $2.8B | ||
| Q2 24 | $785.3M | $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 | $11.3M | — |
| Free Cash FlowOCF − Capex | $-38.1M | — |
| FCF MarginFCF / Revenue | -32.2% | — |
| Capex IntensityCapex / Revenue | 41.7% | 13.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-124.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $11.3M | $108.6M | ||
| Q3 25 | $-22.8M | $100.8M | ||
| Q2 25 | $14.1M | $129.6M | ||
| Q1 25 | $-10.2M | $61.1M | ||
| Q4 24 | $-12.8M | $104.8M | ||
| Q3 24 | $12.1M | $118.6M | ||
| Q2 24 | $7.6M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $-38.1M | $75.1M | ||
| Q3 25 | $-49.0M | $79.2M | ||
| Q2 25 | $-12.1M | $108.9M | ||
| Q1 25 | $-25.2M | $36.5M | ||
| Q4 24 | $-36.5M | $80.5M | ||
| Q3 24 | $-13.7M | $100.0M | ||
| Q2 24 | $-16.6M | $68.7M |
| Q1 26 | — | — | ||
| Q4 25 | -32.2% | 35.3% | ||
| Q3 25 | -53.1% | 34.9% | ||
| Q2 25 | -12.4% | 50.2% | ||
| Q1 25 | -33.5% | 17.0% | ||
| Q4 24 | -54.1% | 37.8% | ||
| Q3 24 | -20.3% | 47.0% | ||
| Q2 24 | -25.0% | 34.2% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | 41.7% | 15.7% | ||
| Q3 25 | 28.3% | 9.5% | ||
| Q2 25 | 26.7% | 9.5% | ||
| Q1 25 | 19.9% | 11.4% | ||
| Q4 24 | 35.1% | 11.4% | ||
| Q3 24 | 38.3% | 8.7% | ||
| Q2 24 | 36.3% | 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
EVGO
| Charging Network Revenue | $63.6M | 54% |
| Charging Revenue Retail | $35.8M | 30% |
| Charging Revenue Commercial | $9.3M | 8% |
| Charging Revenue Oem | $6.5M | 6% |
| Regulatory Credit Sales | $2.2M | 2% |
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% |
