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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and MATRIX SERVICE CO (MTRX). Click either name above to swap in a different company.
Iridium Communications Inc. is the larger business by last-quarter revenue ($219.1M vs $210.5M, roughly 1.0× MATRIX SERVICE CO). Iridium Communications Inc. runs the higher net margin — 9.9% vs -0.4%, a 10.3% gap on every dollar of revenue. On growth, MATRIX SERVICE CO posted the faster year-over-year revenue change (12.5% vs 1.9%). Over the past eight quarters, MATRIX SERVICE CO's revenue compounded faster (12.6% 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...
Matrix Telecom, Inc., operating as Matrix Business Technologies, Trinsic, Powered by Matrix, Excel Telecommunications and various other niche brands is a United States telecommunications firm that provides voice and data services to consumers and small and medium businesses as well as multi-location distributed enterprise markets. The firm also provides wholesale voice services to the telecommunications, wireless and cable industries.
IRDM vs MTRX — Head-to-Head
Income Statement — Q1 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $210.5M |
| Net Profit | $21.6M | $-894.0K |
| Gross Margin | — | 6.2% |
| Operating Margin | 23.2% | -1.0% |
| Net Margin | 9.9% | -0.4% |
| Revenue YoY | 1.9% | 12.5% |
| Net Profit YoY | — | 83.8% |
| EPS (diluted) | — | $-0.03 |
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 | $210.5M | ||
| Q3 25 | $226.9M | $211.9M | ||
| Q2 25 | $216.9M | $216.4M | ||
| Q1 25 | $214.9M | $200.2M | ||
| Q4 24 | $213.0M | $187.2M | ||
| Q3 24 | $212.8M | $165.6M | ||
| Q2 24 | $201.1M | $189.5M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $-894.0K | ||
| Q3 25 | $37.1M | $-3.7M | ||
| Q2 25 | $22.0M | $-11.3M | ||
| Q1 25 | $30.4M | $-3.4M | ||
| Q4 24 | $36.3M | $-5.5M | ||
| Q3 24 | $24.4M | $-9.2M | ||
| Q2 24 | $32.3M | $-4.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | 6.2% | ||
| Q3 25 | — | 6.7% | ||
| Q2 25 | — | 3.8% | ||
| Q1 25 | — | 6.4% | ||
| Q4 24 | — | 5.8% | ||
| Q3 24 | — | 4.7% | ||
| Q2 24 | — | 6.6% |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | -1.0% | ||
| Q3 25 | 30.9% | -2.6% | ||
| Q2 25 | 23.2% | -6.0% | ||
| Q1 25 | 28.1% | -2.5% | ||
| Q4 24 | 24.5% | -3.4% | ||
| Q3 24 | 25.8% | -6.5% | ||
| Q2 24 | 21.7% | -2.8% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | -0.4% | ||
| Q3 25 | 16.4% | -1.7% | ||
| Q2 25 | 10.1% | -5.2% | ||
| Q1 25 | 14.2% | -1.7% | ||
| Q4 24 | 17.1% | -3.0% | ||
| Q3 24 | 11.5% | -5.6% | ||
| Q2 24 | 16.1% | -2.3% |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $-0.03 | ||
| Q3 25 | $0.35 | $-0.13 | ||
| Q2 25 | $0.20 | $-0.41 | ||
| Q1 25 | $0.27 | $-0.12 | ||
| Q4 24 | $0.30 | $-0.20 | ||
| Q3 24 | $0.21 | $-0.33 | ||
| Q2 24 | $0.27 | $-0.16 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $199.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $137.6M |
| Total Assets | — | $650.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $199.0M | ||
| Q3 25 | $88.5M | $192.3M | ||
| Q2 25 | $79.3M | $224.6M | ||
| Q1 25 | $50.9M | $185.5M | ||
| Q4 24 | $93.5M | $156.8M | ||
| Q3 24 | $159.6M | $124.6M | ||
| Q2 24 | $63.5M | $115.6M |
| 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 | $137.6M | ||
| Q3 25 | $450.5M | $136.3M | ||
| Q2 25 | $473.6M | $142.7M | ||
| Q1 25 | $518.4M | $150.7M | ||
| Q4 24 | $576.6M | $151.9M | ||
| Q3 24 | $663.8M | $156.5M | ||
| Q2 24 | $786.7M | $164.2M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $650.2M | ||
| Q3 25 | $2.6B | $598.2M | ||
| Q2 25 | $2.6B | $600.3M | ||
| Q1 25 | $2.6B | $613.7M | ||
| Q4 24 | $2.7B | $513.8M | ||
| Q3 24 | $2.8B | $470.2M | ||
| Q2 24 | $2.7B | $451.4M |
| 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 | — | $7.5M |
| Free Cash FlowOCF − Capex | — | $6.3M |
| FCF MarginFCF / Revenue | — | 3.0% |
| Capex IntensityCapex / Revenue | 13.7% | 0.6% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $45.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $7.5M | ||
| Q3 25 | $100.8M | $-25.9M | ||
| Q2 25 | $129.6M | $40.7M | ||
| Q1 25 | $61.1M | $31.2M | ||
| Q4 24 | $104.8M | $33.6M | ||
| Q3 24 | $118.6M | $11.9M | ||
| Q2 24 | $81.1M | $47.0M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $6.3M | ||
| Q3 25 | $79.2M | $-27.9M | ||
| Q2 25 | $108.9M | $38.4M | ||
| Q1 25 | $36.5M | $28.7M | ||
| Q4 24 | $80.5M | $32.7M | ||
| Q3 24 | $100.0M | $10.0M | ||
| Q2 24 | $68.7M | $45.7M |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | 3.0% | ||
| Q3 25 | 34.9% | -13.2% | ||
| Q2 25 | 50.2% | 17.8% | ||
| Q1 25 | 17.0% | 14.3% | ||
| Q4 24 | 37.8% | 17.5% | ||
| Q3 24 | 47.0% | 6.0% | ||
| Q2 24 | 34.2% | 24.1% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 0.6% | ||
| Q3 25 | 9.5% | 0.9% | ||
| Q2 25 | 9.5% | 1.0% | ||
| Q1 25 | 11.4% | 1.3% | ||
| Q4 24 | 11.4% | 0.5% | ||
| Q3 24 | 8.7% | 1.2% | ||
| Q2 24 | 6.2% | 0.7% |
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | — | ||
| 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) | $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% |
MTRX
| Storage And Terminal Solutions | $99.9M | 47% |
| Utility And Power Infrastructure | $75.4M | 36% |
| Process And Industrial Facilities | $35.3M | 17% |
