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Side-by-side financial comparison of Fastly, Inc. (FSLY) 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 $172.6M, roughly 1.3× Fastly, Inc.). Iridium Communications Inc. runs the higher net margin — 9.9% vs -9.0%, a 18.8% gap on every dollar of revenue. On growth, Fastly, Inc. posted the faster year-over-year revenue change (22.8% vs 1.9%). Over the past eight quarters, Fastly, Inc.'s revenue compounded faster (13.7% CAGR vs 4.4%).
Fastly, Inc. is an American company based in San Francisco, which describes itself as a cloud computing company. Fastly provides content delivery network services, image optimization, and load balancing services. Fastly's cloud security services include denial-of-service attack protection, bot mitigation, and a web application firewall.
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...
FSLY vs IRDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $172.6M | $219.1M |
| Net Profit | $-15.5M | $21.6M |
| Gross Margin | 61.4% | — |
| Operating Margin | -8.7% | 23.2% |
| Net Margin | -9.0% | 9.9% |
| Revenue YoY | 22.8% | 1.9% |
| Net Profit YoY | 52.9% | — |
| EPS (diluted) | $-0.10 | — |
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 | $172.6M | $212.9M | ||
| Q3 25 | $158.2M | $226.9M | ||
| Q2 25 | $148.7M | $216.9M | ||
| Q1 25 | $144.5M | $214.9M | ||
| Q4 24 | $140.6M | $213.0M | ||
| Q3 24 | $137.2M | $212.8M | ||
| Q2 24 | $132.4M | $201.1M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $-15.5M | $24.9M | ||
| Q3 25 | $-29.5M | $37.1M | ||
| Q2 25 | $-37.5M | $22.0M | ||
| Q1 25 | $-39.1M | $30.4M | ||
| Q4 24 | $-32.9M | $36.3M | ||
| Q3 24 | $-38.0M | $24.4M | ||
| Q2 24 | $-43.7M | $32.3M |
| Q1 26 | — | — | ||
| Q4 25 | 61.4% | — | ||
| Q3 25 | 58.4% | — | ||
| Q2 25 | 54.5% | — | ||
| Q1 25 | 53.2% | — | ||
| Q4 24 | 53.4% | — | ||
| Q3 24 | 54.5% | — | ||
| Q2 24 | 55.1% | — |
| Q1 26 | — | 23.2% | ||
| Q4 25 | -8.7% | 25.9% | ||
| Q3 25 | -18.2% | 30.9% | ||
| Q2 25 | -24.8% | 23.2% | ||
| Q1 25 | -26.4% | 28.1% | ||
| Q4 24 | -24.4% | 24.5% | ||
| Q3 24 | -29.6% | 25.8% | ||
| Q2 24 | -35.3% | 21.7% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | -9.0% | 11.7% | ||
| Q3 25 | -18.6% | 16.4% | ||
| Q2 25 | -25.2% | 10.1% | ||
| Q1 25 | -27.1% | 14.2% | ||
| Q4 24 | -23.4% | 17.1% | ||
| Q3 24 | -27.7% | 11.5% | ||
| Q2 24 | -33.0% | 16.1% |
| Q1 26 | — | — | ||
| Q4 25 | $-0.10 | $0.24 | ||
| Q3 25 | $-0.20 | $0.35 | ||
| Q2 25 | $-0.26 | $0.20 | ||
| Q1 25 | $-0.27 | $0.27 | ||
| Q4 24 | $-0.23 | $0.30 | ||
| Q3 24 | $-0.27 | $0.21 | ||
| Q2 24 | $-0.32 | $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 | $361.8M | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $929.6M | — |
| Total Assets | $1.5B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $361.8M | $96.5M | ||
| Q3 25 | $342.9M | $88.5M | ||
| Q2 25 | $321.2M | $79.3M | ||
| Q1 25 | $307.3M | $50.9M | ||
| Q4 24 | $295.9M | $93.5M | ||
| Q3 24 | $308.2M | $159.6M | ||
| Q2 24 | $311.8M | $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 | $929.6M | $462.6M | ||
| Q3 25 | $937.0M | $450.5M | ||
| Q2 25 | $942.6M | $473.6M | ||
| Q1 25 | $957.0M | $518.4M | ||
| Q4 24 | $965.3M | $576.6M | ||
| Q3 24 | $969.5M | $663.8M | ||
| Q2 24 | $981.2M | $786.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.5B | $2.5B | ||
| Q3 25 | $1.5B | $2.6B | ||
| Q2 25 | $1.5B | $2.6B | ||
| Q1 25 | $1.4B | $2.6B | ||
| Q4 24 | $1.5B | $2.7B | ||
| Q3 24 | $1.5B | $2.8B | ||
| Q2 24 | $1.5B | $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 | $22.4M | — |
| Free Cash FlowOCF − Capex | $12.2M | — |
| FCF MarginFCF / Revenue | 7.1% | — |
| Capex IntensityCapex / Revenue | 5.9% | 13.7% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $65.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $22.4M | $108.6M | ||
| Q3 25 | $28.9M | $100.8M | ||
| Q2 25 | $25.8M | $129.6M | ||
| Q1 25 | $17.3M | $61.1M | ||
| Q4 24 | $5.2M | $104.8M | ||
| Q3 24 | $5.0M | $118.6M | ||
| Q2 24 | $-4.9M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $12.2M | $75.1M | ||
| Q3 25 | $22.9M | $79.2M | ||
| Q2 25 | $15.9M | $108.9M | ||
| Q1 25 | $14.7M | $36.5M | ||
| Q4 24 | $251.0K | $80.5M | ||
| Q3 24 | $3.0M | $100.0M | ||
| Q2 24 | $-6.7M | $68.7M |
| Q1 26 | — | — | ||
| Q4 25 | 7.1% | 35.3% | ||
| Q3 25 | 14.5% | 34.9% | ||
| Q2 25 | 10.7% | 50.2% | ||
| Q1 25 | 10.2% | 17.0% | ||
| Q4 24 | 0.2% | 37.8% | ||
| Q3 24 | 2.2% | 47.0% | ||
| Q2 24 | -5.1% | 34.2% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | 5.9% | 15.7% | ||
| Q3 25 | 3.8% | 9.5% | ||
| Q2 25 | 6.6% | 9.5% | ||
| Q1 25 | 1.8% | 11.4% | ||
| Q4 24 | 3.5% | 11.4% | ||
| Q3 24 | 1.5% | 8.7% | ||
| Q2 24 | 1.3% | 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
FSLY
| Network Services | $130.8M | 76% |
| Security | $35.4M | 21% |
| Other | $6.4M | 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% |
