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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and MASIMO CORP (MASI). Click either name above to swap in a different company.
MASIMO CORP is the larger business by last-quarter revenue ($371.5M vs $219.1M, roughly 1.7× Iridium Communications Inc.). Iridium Communications Inc. runs the higher net margin — 9.9% vs -27.0%, a 36.9% gap on every dollar of revenue. On growth, Iridium Communications Inc. posted the faster year-over-year revenue change (1.9% vs -26.4%). Over the past eight quarters, Iridium Communications Inc.'s revenue compounded faster (4.4% CAGR vs -17.7%).
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...
Masimo Corporation is an American health technology and consumer electronics company headquartered in Irvine, California. The company develops patient monitoring devices, non-invasive sensors, and related software platforms used in hospital and home settings. Masimo has also operated in the consumer audio and wearable device markets.
IRDM vs MASI — Head-to-Head
Income Statement — Q1 FY2026 vs Q3 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $371.5M |
| Net Profit | $21.6M | $-100.4M |
| Gross Margin | — | 62.1% |
| Operating Margin | 23.2% | 22.5% |
| Net Margin | 9.9% | -27.0% |
| Revenue YoY | 1.9% | -26.4% |
| Net Profit YoY | — | -1124.5% |
| EPS (diluted) | — | $-1.84 |
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 | — | ||
| Q3 25 | $226.9M | $371.5M | ||
| Q2 25 | $216.9M | $370.9M | ||
| Q1 25 | $214.9M | $372.0M | ||
| Q4 24 | $213.0M | $600.7M | ||
| Q3 24 | $212.8M | $504.6M | ||
| Q2 24 | $201.1M | $496.3M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | — | ||
| Q3 25 | $37.1M | $-100.4M | ||
| Q2 25 | $22.0M | $51.3M | ||
| Q1 25 | $30.4M | $-170.7M | ||
| Q4 24 | $36.3M | $-349.6M | ||
| Q3 24 | $24.4M | $9.8M | ||
| Q2 24 | $32.3M | $16.0M |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | 62.1% | ||
| Q2 25 | — | 62.9% | ||
| Q1 25 | — | 62.9% | ||
| Q4 24 | — | 40.7% | ||
| Q3 24 | — | 52.2% | ||
| Q2 24 | — | 51.3% |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | — | ||
| Q3 25 | 30.9% | 22.5% | ||
| Q2 25 | 23.2% | 17.4% | ||
| Q1 25 | 28.1% | 21.0% | ||
| Q4 24 | 24.5% | -59.8% | ||
| Q3 24 | 25.8% | 6.0% | ||
| Q2 24 | 21.7% | 5.7% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | — | ||
| Q3 25 | 16.4% | -27.0% | ||
| Q2 25 | 10.1% | 13.8% | ||
| Q1 25 | 14.2% | -45.9% | ||
| Q4 24 | 17.1% | -58.2% | ||
| Q3 24 | 11.5% | 1.9% | ||
| Q2 24 | 16.1% | 3.2% |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.35 | $-1.84 | ||
| Q2 25 | $0.20 | $0.94 | ||
| Q1 25 | $0.27 | $-3.12 | ||
| Q4 24 | $0.30 | $-6.54 | ||
| Q3 24 | $0.21 | $0.18 | ||
| Q2 24 | $0.27 | $0.29 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $312.3M |
| Total DebtLower is stronger | — | $559.1M |
| Stockholders' EquityBook value | — | $810.0M |
| Total Assets | — | $1.8B |
| Debt / EquityLower = less leverage | — | 0.69× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | — | ||
| Q3 25 | $88.5M | $312.3M | ||
| Q2 25 | $79.3M | $149.6M | ||
| Q1 25 | $50.9M | $130.8M | ||
| Q4 24 | $93.5M | $177.6M | ||
| Q3 24 | $159.6M | $158.5M | ||
| Q2 24 | $63.5M | $129.6M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | $559.1M | ||
| Q2 25 | — | $613.7M | ||
| Q1 25 | — | $651.0M | ||
| Q4 24 | $1.8B | $765.2M | ||
| Q3 24 | — | $772.6M | ||
| Q2 24 | — | $781.6M |
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | — | ||
| Q3 25 | $450.5M | $810.0M | ||
| Q2 25 | $473.6M | $1.0B | ||
| Q1 25 | $518.4M | $946.4M | ||
| Q4 24 | $576.6M | $1.1B | ||
| Q3 24 | $663.8M | $1.5B | ||
| Q2 24 | $786.7M | $1.4B |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | — | ||
| Q3 25 | $2.6B | $1.8B | ||
| Q2 25 | $2.6B | $2.4B | ||
| Q1 25 | $2.6B | $2.3B | ||
| Q4 24 | $2.7B | $2.6B | ||
| Q3 24 | $2.8B | $3.1B | ||
| Q2 24 | $2.7B | $2.9B |
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | — | ||
| Q3 25 | — | 0.69× | ||
| Q2 25 | — | 0.59× | ||
| Q1 25 | — | 0.69× | ||
| Q4 24 | 3.05× | 0.73× | ||
| Q3 24 | — | 0.53× | ||
| Q2 24 | — | 0.57× |
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 | — | $56.8M |
| Free Cash FlowOCF − Capex | — | $50.9M |
| FCF MarginFCF / Revenue | — | 13.7% |
| Capex IntensityCapex / Revenue | 13.7% | 1.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $191.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | — | ||
| Q3 25 | $100.8M | $56.8M | ||
| Q2 25 | $129.6M | $69.4M | ||
| Q1 25 | $61.1M | $31.1M | ||
| Q4 24 | $104.8M | $50.5M | ||
| Q3 24 | $118.6M | $25.6M | ||
| Q2 24 | $81.1M | $74.5M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | — | ||
| Q3 25 | $79.2M | $50.9M | ||
| Q2 25 | $108.9M | $65.6M | ||
| Q1 25 | $36.5M | $28.5M | ||
| Q4 24 | $80.5M | $46.0M | ||
| Q3 24 | $100.0M | $16.9M | ||
| Q2 24 | $68.7M | $66.9M |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | — | ||
| Q3 25 | 34.9% | 13.7% | ||
| Q2 25 | 50.2% | 17.7% | ||
| Q1 25 | 17.0% | 7.7% | ||
| Q4 24 | 37.8% | 7.7% | ||
| Q3 24 | 47.0% | 3.3% | ||
| Q2 24 | 34.2% | 13.5% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | — | ||
| Q3 25 | 9.5% | 1.6% | ||
| Q2 25 | 9.5% | 1.0% | ||
| Q1 25 | 11.4% | 0.7% | ||
| Q4 24 | 11.4% | 0.7% | ||
| Q3 24 | 8.7% | 1.7% | ||
| Q2 24 | 6.2% | 1.5% |
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | — | ||
| Q3 25 | 2.71× | — | ||
| Q2 25 | 5.90× | 1.35× | ||
| Q1 25 | 2.01× | — | ||
| Q4 24 | 2.88× | — | ||
| Q3 24 | 4.85× | 2.61× | ||
| Q2 24 | 2.51× | 4.66× |
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% |
MASI
Segment breakdown not available.
