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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and LIQUIDITY SERVICES INC (LQDT). Click either name above to swap in a different company.
Iridium Communications Inc. is the larger business by last-quarter revenue ($219.1M vs $120.7M, roughly 1.8× LIQUIDITY SERVICES INC). Iridium Communications Inc. runs the higher net margin — 9.9% vs 6.2%, a 3.6% gap on every dollar of revenue. On growth, LIQUIDITY SERVICES INC posted the faster year-over-year revenue change (3.7% vs 1.9%). Over the past eight quarters, LIQUIDITY SERVICES INC's revenue compounded faster (13.6% 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...
Liquidity Services, Inc. is an American e-commerce company providing surplus asset management services through a network of online marketplaces. It serves businesses and government agencies by facilitating the resale of surplus, returned, and end-of-life goods. Founded in 1999 and headquartered in Bethesda, Maryland, United States.
IRDM vs LQDT — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $120.7M |
| Net Profit | $21.6M | $7.5M |
| Gross Margin | — | — |
| Operating Margin | 23.2% | 8.0% |
| Net Margin | 9.9% | 6.2% |
| Revenue YoY | 1.9% | 3.7% |
| Net Profit YoY | — | 6.7% |
| EPS (diluted) | — | $0.23 |
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 | $120.7M | ||
| Q4 25 | $212.9M | $121.2M | ||
| Q3 25 | $226.9M | $118.1M | ||
| Q2 25 | $216.9M | $119.9M | ||
| Q1 25 | $214.9M | $116.4M | ||
| Q4 24 | $213.0M | $122.3M | ||
| Q3 24 | $212.8M | $106.9M | ||
| Q2 24 | $201.1M | $93.6M |
| Q1 26 | $21.6M | $7.5M | ||
| Q4 25 | $24.9M | $7.5M | ||
| Q3 25 | $37.1M | $7.8M | ||
| Q2 25 | $22.0M | $7.4M | ||
| Q1 25 | $30.4M | $7.1M | ||
| Q4 24 | $36.3M | $5.8M | ||
| Q3 24 | $24.4M | $6.4M | ||
| Q2 24 | $32.3M | $6.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | 47.0% | ||
| Q3 25 | — | 47.8% | ||
| Q2 25 | — | 45.7% | ||
| Q1 25 | — | 40.8% | ||
| Q4 24 | — | 41.0% | ||
| Q3 24 | — | 45.6% | ||
| Q2 24 | — | 52.8% |
| Q1 26 | 23.2% | 8.0% | ||
| Q4 25 | 25.9% | 7.7% | ||
| Q3 25 | 30.9% | 9.3% | ||
| Q2 25 | 23.2% | 8.5% | ||
| Q1 25 | 28.1% | 5.8% | ||
| Q4 24 | 24.5% | 5.8% | ||
| Q3 24 | 25.8% | 6.8% | ||
| Q2 24 | 21.7% | 8.4% |
| Q1 26 | 9.9% | 6.2% | ||
| Q4 25 | 11.7% | 6.2% | ||
| Q3 25 | 16.4% | 6.6% | ||
| Q2 25 | 10.1% | 6.2% | ||
| Q1 25 | 14.2% | 6.1% | ||
| Q4 24 | 17.1% | 4.7% | ||
| Q3 24 | 11.5% | 6.0% | ||
| Q2 24 | 16.1% | 6.4% |
| Q1 26 | — | $0.23 | ||
| Q4 25 | $0.24 | $0.23 | ||
| Q3 25 | $0.35 | $0.24 | ||
| Q2 25 | $0.20 | $0.23 | ||
| Q1 25 | $0.27 | $0.22 | ||
| Q4 24 | $0.30 | $0.18 | ||
| Q3 24 | $0.21 | $0.20 | ||
| Q2 24 | $0.27 | $0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $204.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | — |
| Total Assets | — | $400.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $204.0M | ||
| Q4 25 | $96.5M | $11.6M | ||
| Q3 25 | $88.5M | $11.2M | ||
| Q2 25 | $79.3M | $11.4M | ||
| Q1 25 | $50.9M | $10.5M | ||
| Q4 24 | $93.5M | $10.4M | ||
| Q3 24 | $159.6M | $2.3M | ||
| Q2 24 | $63.5M | $6.5M |
| 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 | $215.3M | ||
| Q3 25 | $450.5M | $203.2M | ||
| Q2 25 | $473.6M | $208.7M | ||
| Q1 25 | $518.4M | $196.3M | ||
| Q4 24 | $576.6M | $189.2M | ||
| Q3 24 | $663.8M | $182.6M | ||
| Q2 24 | $786.7M | $172.0M |
| Q1 26 | — | $400.4M | ||
| Q4 25 | $2.5B | $369.1M | ||
| Q3 25 | $2.6B | $375.1M | ||
| Q2 25 | $2.6B | $372.4M | ||
| Q1 25 | $2.6B | $358.8M | ||
| Q4 24 | $2.7B | $333.2M | ||
| Q3 24 | $2.8B | $346.9M | ||
| Q2 24 | $2.7B | $325.5M |
| 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 | — | $29.0M |
| Free Cash FlowOCF − Capex | — | — |
| FCF MarginFCF / Revenue | — | — |
| Capex IntensityCapex / Revenue | 13.7% | — |
| Cash ConversionOCF / Net Profit | — | 3.86× |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $29.0M | ||
| Q4 25 | $108.6M | $-526.0K | ||
| Q3 25 | $100.8M | $38.0M | ||
| Q2 25 | $129.6M | $19.3M | ||
| Q1 25 | $61.1M | $21.6M | ||
| Q4 24 | $104.8M | $-12.1M | ||
| Q3 24 | $118.6M | $22.0M | ||
| Q2 24 | $81.1M | $22.2M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $-2.8M | ||
| Q3 25 | $79.2M | $36.0M | ||
| Q2 25 | $108.9M | $17.2M | ||
| Q1 25 | $36.5M | $19.8M | ||
| Q4 24 | $80.5M | $-14.0M | ||
| Q3 24 | $100.0M | $19.2M | ||
| Q2 24 | $68.7M | $20.3M |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | -2.3% | ||
| Q3 25 | 34.9% | 30.5% | ||
| Q2 25 | 50.2% | 14.3% | ||
| Q1 25 | 17.0% | 17.0% | ||
| Q4 24 | 37.8% | -11.4% | ||
| Q3 24 | 47.0% | 17.9% | ||
| Q2 24 | 34.2% | 21.7% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 1.9% | ||
| Q3 25 | 9.5% | 1.7% | ||
| Q2 25 | 9.5% | 1.8% | ||
| Q1 25 | 11.4% | 1.6% | ||
| Q4 24 | 11.4% | 1.5% | ||
| Q3 24 | 8.7% | 2.7% | ||
| Q2 24 | 6.2% | 2.1% |
| Q1 26 | — | 3.86× | ||
| Q4 25 | 4.37× | -0.07× | ||
| Q3 25 | 2.71× | 4.86× | ||
| Q2 25 | 5.90× | 2.60× | ||
| Q1 25 | 2.01× | 3.07× | ||
| Q4 24 | 2.88× | -2.09× | ||
| Q3 24 | 4.85× | 3.45× | ||
| Q2 24 | 2.51× | 3.71× |
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) | $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% |
LQDT
| Purchase revenues | $77.9M | 64% |
| Consignment and other fee revenues | $42.9M | 36% |
