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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and iRhythm Holdings, Inc. (IRTC). Click either name above to swap in a different company.
Iridium Communications Inc. is the larger business by last-quarter revenue ($219.1M vs $208.9M, roughly 1.0× iRhythm Holdings, Inc.). Iridium Communications Inc. runs the higher net margin — 9.9% vs 2.7%, a 7.2% gap on every dollar of revenue. On growth, iRhythm Holdings, Inc. posted the faster year-over-year revenue change (27.1% vs 1.9%). Over the past eight quarters, iRhythm Holdings, Inc.'s revenue compounded faster (25.8% CAGR vs 4.4%).
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...
iRhythm Holdings is a digital healthcare company focused on cardiac care, developing and commercializing wearable ambulatory heart monitoring devices paired with AI-powered analytical tools. It primarily serves healthcare providers and patients across the United States, helping to detect undiagnosed arrhythmias such as atrial fibrillation through convenient long-term heart rhythm tracking that delivers actionable clinical insights.
IRDM vs IRTC — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $208.9M |
| Net Profit | $21.6M | $5.6M |
| Gross Margin | — | 70.9% |
| Operating Margin | 23.2% | 1.1% |
| Net Margin | 9.9% | 2.7% |
| Revenue YoY | 1.9% | 27.1% |
| Net Profit YoY | -29.0% | 518.5% |
| EPS (diluted) | — | $0.18 |
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 | $212.9M | $208.9M | ||
| Q3 25 | $226.9M | $192.9M | ||
| Q2 25 | $216.9M | $186.7M | ||
| Q1 25 | $214.9M | $158.7M | ||
| Q4 24 | $213.0M | $164.3M | ||
| Q3 24 | $212.8M | $147.5M | ||
| Q2 24 | $201.1M | $148.0M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $5.6M | ||
| Q3 25 | $37.1M | $-5.2M | ||
| Q2 25 | $22.0M | $-14.2M | ||
| Q1 25 | $30.4M | $-30.7M | ||
| Q4 24 | $36.3M | $-1.3M | ||
| Q3 24 | $24.4M | $-46.2M | ||
| Q2 24 | $32.3M | $-20.1M |
| Q1 26 | — | — | ||
| Q4 25 | — | 70.9% | ||
| Q3 25 | — | 71.1% | ||
| Q2 25 | — | 71.2% | ||
| Q1 25 | — | 68.8% | ||
| Q4 24 | — | 70.0% | ||
| Q3 24 | — | 68.8% | ||
| Q2 24 | — | 69.9% |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | 1.1% | ||
| Q3 25 | 30.9% | -4.4% | ||
| Q2 25 | 23.2% | -10.0% | ||
| Q1 25 | 28.1% | -20.5% | ||
| Q4 24 | 24.5% | -2.5% | ||
| Q3 24 | 25.8% | -34.1% | ||
| Q2 24 | 21.7% | -15.5% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | 2.7% | ||
| Q3 25 | 16.4% | -2.7% | ||
| Q2 25 | 10.1% | -7.6% | ||
| Q1 25 | 14.2% | -19.3% | ||
| Q4 24 | 17.1% | -0.8% | ||
| Q3 24 | 11.5% | -31.3% | ||
| Q2 24 | 16.1% | -13.6% |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $0.18 | ||
| Q3 25 | $0.35 | $-0.16 | ||
| Q2 25 | $0.20 | $-0.44 | ||
| Q1 25 | $0.27 | $-0.97 | ||
| Q4 24 | $0.30 | $-0.03 | ||
| Q3 24 | $0.21 | $-1.48 | ||
| Q2 24 | $0.27 | $-0.65 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $583.8M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $152.7M |
| Total Assets | — | $1.0B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $583.8M | ||
| Q3 25 | $88.5M | $565.2M | ||
| Q2 25 | $79.3M | $545.5M | ||
| Q1 25 | $50.9M | $520.6M | ||
| Q4 24 | $93.5M | $535.6M | ||
| Q3 24 | $159.6M | $522.0M | ||
| Q2 24 | $63.5M | $561.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | $152.7M | ||
| Q3 25 | $450.5M | $121.9M | ||
| Q2 25 | $473.6M | $103.7M | ||
| Q1 25 | $518.4M | $86.7M | ||
| Q4 24 | $576.6M | $90.9M | ||
| Q3 24 | $663.8M | $71.8M | ||
| Q2 24 | $786.7M | $99.2M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $1.0B | ||
| Q3 25 | $2.6B | $995.2M | ||
| Q2 25 | $2.6B | $964.0M | ||
| Q1 25 | $2.6B | $926.1M | ||
| Q4 24 | $2.7B | $931.4M | ||
| Q3 24 | $2.8B | $909.7M | ||
| Q2 24 | $2.7B | $919.2M |
| 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 | — | $26.2M |
| Free Cash FlowOCF − Capex | — | $14.5M |
| FCF MarginFCF / Revenue | — | 6.9% |
| Capex IntensityCapex / Revenue | 13.7% | 5.6% |
| Cash ConversionOCF / Net Profit | — | 4.70× |
| TTM Free Cash FlowTrailing 4 quarters | — | $34.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $26.2M | ||
| Q3 25 | $100.8M | $34.9M | ||
| Q2 25 | $129.6M | $27.7M | ||
| Q1 25 | $61.1M | $-7.9M | ||
| Q4 24 | $104.8M | $19.2M | ||
| Q3 24 | $118.6M | $24.3M | ||
| Q2 24 | $81.1M | $11.8M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $14.5M | ||
| Q3 25 | $79.2M | $20.1M | ||
| Q2 25 | $108.9M | $17.3M | ||
| Q1 25 | $36.5M | $-17.3M | ||
| Q4 24 | $80.5M | $12.4M | ||
| Q3 24 | $100.0M | $15.5M | ||
| Q2 24 | $68.7M | $3.4M |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | 6.9% | ||
| Q3 25 | 34.9% | 10.4% | ||
| Q2 25 | 50.2% | 9.3% | ||
| Q1 25 | 17.0% | -10.9% | ||
| Q4 24 | 37.8% | 7.5% | ||
| Q3 24 | 47.0% | 10.5% | ||
| Q2 24 | 34.2% | 2.3% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 5.6% | ||
| Q3 25 | 9.5% | 7.7% | ||
| Q2 25 | 9.5% | 5.6% | ||
| Q1 25 | 11.4% | 5.9% | ||
| Q4 24 | 11.4% | 4.2% | ||
| Q3 24 | 8.7% | 6.0% | ||
| Q2 24 | 6.2% | 5.7% |
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | 4.70× | ||
| 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
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% |
IRTC
| Commercial Payors | $111.7M | 53% |
| Centers For Medicare And Medicaid | $49.2M | 24% |
| Healthcare Institutions | $34.3M | 16% |
| Non Contracted Third Party Payors | $13.7M | 7% |
