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Side-by-side financial comparison of HCI Group, Inc. (HCI) and Iridium Communications Inc. (IRDM). Click either name above to swap in a different company.
HCI Group, Inc. is the larger business by last-quarter revenue ($246.2M vs $219.1M, roughly 1.1× Iridium Communications Inc.). HCI Group, Inc. runs the higher net margin — 39.7% vs 9.9%, a 29.8% gap on every dollar of revenue. On growth, HCI Group, Inc. posted the faster year-over-year revenue change (52.1% vs 1.9%). Over the past eight quarters, HCI Group, Inc.'s revenue compounded faster (9.2% CAGR vs 4.4%).
HCI Equity Partners is a Washington, DC–based private equity firm with an additional office in Chicago, Illinois.
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...
HCI vs IRDM — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $246.2M | $219.1M |
| Net Profit | $97.7M | $21.6M |
| Gross Margin | — | — |
| Operating Margin | 58.5% | 23.2% |
| Net Margin | 39.7% | 9.9% |
| Revenue YoY | 52.1% | 1.9% |
| Net Profit YoY | 3679.2% | -29.0% |
| EPS (diluted) | $7.29 | — |
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 | $246.2M | $212.9M | ||
| Q3 25 | $216.3M | $226.9M | ||
| Q2 25 | $221.9M | $216.9M | ||
| Q1 25 | $216.4M | $214.9M | ||
| Q4 24 | $161.9M | $213.0M | ||
| Q3 24 | $175.3M | $212.8M | ||
| Q2 24 | $206.2M | $201.1M |
| Q1 26 | — | $21.6M | ||
| Q4 25 | $97.7M | $24.9M | ||
| Q3 25 | $65.5M | $37.1M | ||
| Q2 25 | $66.2M | $22.0M | ||
| Q1 25 | $69.7M | $30.4M | ||
| Q4 24 | $2.6M | $36.3M | ||
| Q3 24 | $5.7M | $24.4M | ||
| Q2 24 | $54.1M | $32.3M |
| Q1 26 | — | 23.2% | ||
| Q4 25 | 58.5% | 25.9% | ||
| Q3 25 | 41.9% | 30.9% | ||
| Q2 25 | 42.5% | 23.2% | ||
| Q1 25 | 46.4% | 28.1% | ||
| Q4 24 | 3.6% | 24.5% | ||
| Q3 24 | 8.0% | 25.8% | ||
| Q2 24 | 36.9% | 21.7% |
| Q1 26 | — | 9.9% | ||
| Q4 25 | 39.7% | 11.7% | ||
| Q3 25 | 30.3% | 16.4% | ||
| Q2 25 | 29.8% | 10.1% | ||
| Q1 25 | 32.2% | 14.2% | ||
| Q4 24 | 1.6% | 17.1% | ||
| Q3 24 | 3.2% | 11.5% | ||
| Q2 24 | 26.2% | 16.1% |
| Q1 26 | — | — | ||
| Q4 25 | $7.29 | $0.24 | ||
| Q3 25 | $4.90 | $0.35 | ||
| Q2 25 | $5.18 | $0.20 | ||
| Q1 25 | $5.35 | $0.27 | ||
| Q4 24 | $0.32 | $0.30 | ||
| Q3 24 | $0.52 | $0.21 | ||
| Q2 24 | $4.24 | $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 | $1.2B | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.0B | — |
| Total Assets | $2.5B | — |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $1.2B | $96.5M | ||
| Q3 25 | $987.9M | $88.5M | ||
| Q2 25 | $947.2M | $79.3M | ||
| Q1 25 | $754.5M | $50.9M | ||
| Q4 24 | $532.5M | $93.5M | ||
| Q3 24 | $518.8M | $159.6M | ||
| Q2 24 | $445.8M | $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 | $1.0B | $462.6M | ||
| Q3 25 | $821.8M | $450.5M | ||
| Q2 25 | $758.6M | $473.6M | ||
| Q1 25 | $522.7M | $518.4M | ||
| Q4 24 | $453.3M | $576.6M | ||
| Q3 24 | $455.3M | $663.8M | ||
| Q2 24 | $447.3M | $786.7M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $2.5B | ||
| Q3 25 | $2.3B | $2.6B | ||
| Q2 25 | $2.4B | $2.6B | ||
| Q1 25 | $2.3B | $2.6B | ||
| Q4 24 | $2.2B | $2.7B | ||
| Q3 24 | $2.0B | $2.8B | ||
| Q2 24 | $1.9B | $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 | $444.4M | — |
| Free Cash FlowOCF − Capex | $440.8M | — |
| FCF MarginFCF / Revenue | 179.0% | — |
| Capex IntensityCapex / Revenue | 1.5% | 13.7% |
| Cash ConversionOCF / Net Profit | 4.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | $771.4M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $444.4M | $108.6M | ||
| Q3 25 | $26.7M | $100.8M | ||
| Q2 25 | $145.0M | $129.6M | ||
| Q1 25 | $162.0M | $61.1M | ||
| Q4 24 | $331.8M | $104.8M | ||
| Q3 24 | $104.1M | $118.6M | ||
| Q2 24 | $-29.0M | $81.1M |
| Q1 26 | — | — | ||
| Q4 25 | $440.8M | $75.1M | ||
| Q3 25 | $25.9M | $79.2M | ||
| Q2 25 | $144.5M | $108.9M | ||
| Q1 25 | $160.3M | $36.5M | ||
| Q4 24 | $327.8M | $80.5M | ||
| Q3 24 | $103.2M | $100.0M | ||
| Q2 24 | $-30.1M | $68.7M |
| Q1 26 | — | — | ||
| Q4 25 | 179.0% | 35.3% | ||
| Q3 25 | 12.0% | 34.9% | ||
| Q2 25 | 65.1% | 50.2% | ||
| Q1 25 | 74.1% | 17.0% | ||
| Q4 24 | 202.5% | 37.8% | ||
| Q3 24 | 58.9% | 47.0% | ||
| Q2 24 | -14.6% | 34.2% |
| Q1 26 | — | 13.7% | ||
| Q4 25 | 1.5% | 15.7% | ||
| Q3 25 | 0.4% | 9.5% | ||
| Q2 25 | 0.2% | 9.5% | ||
| Q1 25 | 0.8% | 11.4% | ||
| Q4 24 | 2.5% | 11.4% | ||
| Q3 24 | 0.5% | 8.7% | ||
| Q2 24 | 0.5% | 6.2% |
| Q1 26 | — | — | ||
| Q4 25 | 4.55× | 4.37× | ||
| Q3 25 | 0.41× | 2.71× | ||
| Q2 25 | 2.19× | 5.90× | ||
| Q1 25 | 2.32× | 2.01× | ||
| Q4 24 | 128.41× | 2.88× | ||
| Q3 24 | 18.33× | 4.85× | ||
| Q2 24 | -0.54× | 2.51× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HCI
| Insurance Operation | $218.3M | 89% |
| Reciprocal Exchange Operation | $27.0M | 11% |
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% |
