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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and Merchants Bancorp (MBIN). Click either name above to swap in a different company.
Iridium Communications Inc. is the larger business by last-quarter revenue ($219.1M vs $175.2M, roughly 1.2× Merchants Bancorp). Merchants Bancorp runs the higher net margin — 38.6% vs 9.9%, a 28.8% gap on every dollar of revenue. Over the past eight quarters, Merchants Bancorp's revenue compounded faster (4.8% 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...
Ameris Bancorp is an American bank holding company headquartered in Atlanta, Georgia. Through its bank subsidiary, Ameris Bank, the company operates full-service branches in Georgia, Alabama, Florida, North Carolina and South Carolina, and mortgage-only locations in Georgia, Alabama, Florida, North Carolina, South Carolina, Virginia, Maryland, and Tennessee. The company offers online and mobile banking options for both consumers and businesses.
IRDM vs MBIN — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $175.2M |
| Net Profit | $21.6M | $67.7M |
| Gross Margin | — | — |
| Operating Margin | 23.2% | — |
| Net Margin | 9.9% | 38.6% |
| Revenue YoY | 1.9% | — |
| Net Profit YoY | — | 16.3% |
| EPS (diluted) | — | $1.25 |
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 | $175.2M | ||
| Q4 25 | $212.9M | $185.3M | ||
| Q3 25 | $226.9M | $171.1M | ||
| Q2 25 | $216.9M | $179.2M | ||
| Q1 25 | $214.9M | $145.9M | ||
| Q4 24 | $213.0M | $193.8M | ||
| Q3 24 | $212.8M | $149.6M | ||
| Q2 24 | $201.1M | $159.5M |
| Q1 26 | $21.6M | $67.7M | ||
| Q4 25 | $24.9M | — | ||
| Q3 25 | $37.1M | $54.7M | ||
| Q2 25 | $22.0M | $38.0M | ||
| Q1 25 | $30.4M | $58.2M | ||
| Q4 24 | $36.3M | — | ||
| Q3 24 | $24.4M | $61.3M | ||
| Q2 24 | $32.3M | $76.4M |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | 39.9% | ||
| Q3 25 | 30.9% | 37.8% | ||
| Q2 25 | 23.2% | 27.3% | ||
| Q1 25 | 28.1% | 52.4% | ||
| Q4 24 | 24.5% | 66.0% | ||
| Q3 24 | 25.8% | 54.4% | ||
| Q2 24 | 21.7% | 62.2% |
| Q1 26 | 9.9% | 38.6% | ||
| Q4 25 | 11.7% | — | ||
| Q3 25 | 16.4% | 32.0% | ||
| Q2 25 | 10.1% | 21.2% | ||
| Q1 25 | 14.2% | 39.9% | ||
| Q4 24 | 17.1% | — | ||
| Q3 24 | 11.5% | 41.0% | ||
| Q2 24 | 16.1% | 47.9% |
| Q1 26 | — | $1.25 | ||
| Q4 25 | $0.24 | $1.28 | ||
| Q3 25 | $0.35 | $0.97 | ||
| Q2 25 | $0.20 | $0.60 | ||
| Q1 25 | $0.27 | $0.93 | ||
| Q4 24 | $0.30 | $1.84 | ||
| Q3 24 | $0.21 | $1.17 | ||
| Q2 24 | $0.27 | $1.49 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $83.2M |
| Total DebtLower is stronger | — | $32.0M |
| Stockholders' EquityBook value | — | $2.3B |
| Total Assets | — | $20.3B |
| Debt / EquityLower = less leverage | — | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $83.2M | ||
| Q4 25 | $96.5M | — | ||
| Q3 25 | $88.5M | — | ||
| Q2 25 | $79.3M | — | ||
| Q1 25 | $50.9M | — | ||
| Q4 24 | $93.5M | — | ||
| Q3 24 | $159.6M | — | ||
| Q2 24 | $63.5M | — |
| Q1 26 | — | $32.0M | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $2.3B | ||
| Q4 25 | $462.6M | $2.3B | ||
| Q3 25 | $450.5M | $2.2B | ||
| Q2 25 | $473.6M | $2.2B | ||
| Q1 25 | $518.4M | $2.2B | ||
| Q4 24 | $576.6M | $2.2B | ||
| Q3 24 | $663.8M | $1.9B | ||
| Q2 24 | $786.7M | $1.9B |
| Q1 26 | — | $20.3B | ||
| Q4 25 | $2.5B | $19.4B | ||
| Q3 25 | $2.6B | $19.4B | ||
| Q2 25 | $2.6B | $19.1B | ||
| Q1 25 | $2.6B | $18.8B | ||
| Q4 24 | $2.7B | $18.8B | ||
| Q3 24 | $2.8B | $18.7B | ||
| Q2 24 | $2.7B | $18.2B |
| Q1 26 | — | 0.01× | ||
| Q4 25 | 3.80× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.05× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
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% |
MBIN
| Net Interest Income | $128.6M | 73% |
| Noninterest Income | $46.6M | 27% |
