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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and Mistras Group, Inc. (MG). Click either name above to swap in a different company.
Iridium Communications Inc. is the larger business by last-quarter revenue ($219.1M vs $181.5M, roughly 1.2× Mistras Group, Inc.). Iridium Communications Inc. runs the higher net margin — 9.9% vs 2.1%, a 7.8% gap on every dollar of revenue. On growth, Mistras Group, Inc. posted the faster year-over-year revenue change (5.1% vs 1.9%). Over the past eight quarters, Iridium Communications Inc.'s revenue compounded faster (4.4% CAGR vs -0.8%).
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...
Mistras Group, Inc. is a global provider of asset integrity and protection solutions, offering non-destructive testing, inspection, real-time monitoring, and engineering consulting services. Its key client segments include oil and gas, aerospace, power generation, and manufacturing industries, with operations spanning North America, Europe, and Asia-Pacific, helping clients enhance operational safety, extend asset lifespans, and minimize unplanned downtime.
IRDM vs MG — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $181.5M |
| Net Profit | $21.6M | $3.8M |
| Gross Margin | — | 28.4% |
| Operating Margin | 23.2% | 7.0% |
| Net Margin | 9.9% | 2.1% |
| Revenue YoY | 1.9% | 5.1% |
| Net Profit YoY | — | -27.4% |
| EPS (diluted) | — | $0.12 |
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 | $181.5M | ||
| Q3 25 | $226.9M | $195.5M | ||
| Q2 25 | $216.9M | $185.4M | ||
| Q1 25 | $214.9M | $161.6M | ||
| Q4 24 | $213.0M | $172.7M | ||
| Q3 24 | $212.8M | $182.7M | ||
| Q2 24 | $201.1M | $189.8M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $3.8M | ||
| Q3 25 | $37.1M | $13.1M | ||
| Q2 25 | $22.0M | $3.0M | ||
| Q1 25 | $30.4M | $-3.2M | ||
| Q4 24 | $36.3M | $5.2M | ||
| Q3 24 | $24.4M | $6.4M | ||
| Q2 24 | $32.3M | $6.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 28.4% | ||
| Q3 25 | — | 29.8% | ||
| Q2 25 | — | 29.1% | ||
| Q1 25 | — | 25.3% | ||
| Q4 24 | — | 26.5% | ||
| Q3 24 | — | 26.8% | ||
| Q2 24 | — | 27.1% |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | 7.0% | ||
| Q3 25 | 30.9% | 10.4% | ||
| Q2 25 | 23.2% | 4.5% | ||
| Q1 25 | 28.1% | -0.6% | ||
| Q4 24 | 24.5% | 6.1% | ||
| Q3 24 | 25.8% | 6.5% | ||
| Q2 24 | 21.7% | 6.3% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | 2.1% | ||
| Q3 25 | 16.4% | 6.7% | ||
| Q2 25 | 10.1% | 1.6% | ||
| Q1 25 | 14.2% | -2.0% | ||
| Q4 24 | 17.1% | 3.0% | ||
| Q3 24 | 11.5% | 3.5% | ||
| Q2 24 | 16.1% | 3.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $0.12 | ||
| Q3 25 | $0.35 | $0.41 | ||
| Q2 25 | $0.20 | $0.10 | ||
| Q1 25 | $0.27 | $-0.10 | ||
| Q4 24 | $0.30 | $0.17 | ||
| Q3 24 | $0.21 | $0.20 | ||
| Q2 24 | $0.27 | $0.20 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $28.0M |
| Total DebtLower is stronger | — | $178.0M |
| Stockholders' EquityBook value | — | $235.1M |
| Total Assets | — | $578.8M |
| Debt / EquityLower = less leverage | — | 0.76× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $28.0M | ||
| Q3 25 | $88.5M | $27.8M | ||
| Q2 25 | $79.3M | $20.0M | ||
| Q1 25 | $50.9M | $18.5M | ||
| Q4 24 | $93.5M | $18.3M | ||
| Q3 24 | $159.6M | $20.4M | ||
| Q2 24 | $63.5M | $17.2M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $178.0M | ||
| Q3 25 | — | $202.3M | ||
| Q2 25 | — | $189.4M | ||
| Q1 25 | — | $171.9M | ||
| Q4 24 | $1.8B | $169.6M | ||
| Q3 24 | — | $189.7M | ||
| Q2 24 | — | $199.7M |
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | $235.1M | ||
| Q3 25 | $450.5M | $227.4M | ||
| Q2 25 | $473.6M | $215.8M | ||
| Q1 25 | $518.4M | $198.7M | ||
| Q4 24 | $576.6M | $198.6M | ||
| Q3 24 | $663.8M | $205.2M | ||
| Q2 24 | $786.7M | $193.2M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $578.8M | ||
| Q3 25 | $2.6B | $596.3M | ||
| Q2 25 | $2.6B | $571.0M | ||
| Q1 25 | $2.6B | $526.8M | ||
| Q4 24 | $2.7B | $523.0M | ||
| Q3 24 | $2.8B | $551.7M | ||
| Q2 24 | $2.7B | $548.1M |
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | 0.76× | ||
| Q3 25 | — | 0.89× | ||
| Q2 25 | — | 0.88× | ||
| Q1 25 | — | 0.87× | ||
| Q4 24 | 3.05× | 0.85× | ||
| Q3 24 | — | 0.92× | ||
| Q2 24 | — | 1.03× |
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 | — | $32.1M |
| Free Cash FlowOCF − Capex | — | $26.0M |
| FCF MarginFCF / Revenue | — | 14.3% |
| Capex IntensityCapex / Revenue | 13.7% | 3.4% |
| Cash ConversionOCF / Net Profit | — | 8.55× |
| TTM Free Cash FlowTrailing 4 quarters | — | $8.3M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $32.1M | ||
| Q3 25 | $100.8M | $4.5M | ||
| Q2 25 | $129.6M | $-9.3M | ||
| Q1 25 | $61.1M | $5.6M | ||
| Q4 24 | $104.8M | $25.7M | ||
| Q3 24 | $118.6M | $19.4M | ||
| Q2 24 | $81.1M | $4.5M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $26.0M | ||
| Q3 25 | $79.2M | $-4.1M | ||
| Q2 25 | $108.9M | $-14.7M | ||
| Q1 25 | $36.5M | $1.1M | ||
| Q4 24 | $80.5M | $22.1M | ||
| Q3 24 | $100.0M | $14.6M | ||
| Q2 24 | $68.7M | $-284.0K |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | 14.3% | ||
| Q3 25 | 34.9% | -2.1% | ||
| Q2 25 | 50.2% | -7.9% | ||
| Q1 25 | 17.0% | 0.7% | ||
| Q4 24 | 37.8% | 12.8% | ||
| Q3 24 | 47.0% | 8.0% | ||
| Q2 24 | 34.2% | -0.1% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 3.4% | ||
| Q3 25 | 9.5% | 4.4% | ||
| Q2 25 | 9.5% | 2.9% | ||
| Q1 25 | 11.4% | 2.8% | ||
| Q4 24 | 11.4% | 2.1% | ||
| Q3 24 | 8.7% | 2.6% | ||
| Q2 24 | 6.2% | 2.5% |
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | 8.55× | ||
| Q3 25 | 2.71× | 0.34× | ||
| Q2 25 | 5.90× | -3.07× | ||
| Q1 25 | 2.01× | — | ||
| Q4 24 | 2.88× | 4.96× | ||
| Q3 24 | 4.85× | 3.02× | ||
| Q2 24 | 2.51× | 0.71× |
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% |
MG
Segment breakdown not available.
