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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and New Fortress Energy Inc. (NFE). Click either name above to swap in a different company.
New Fortress Energy Inc. is the larger business by last-quarter revenue ($326.2M vs $219.1M, roughly 1.5× Iridium Communications Inc.). Iridium Communications Inc. runs the higher net margin — 9.9% vs -259.7%, a 269.5% gap on every dollar of revenue. On growth, Iridium Communications Inc. posted the faster year-over-year revenue change (1.9% vs -7.0%). Over the past eight quarters, Iridium Communications Inc.'s revenue compounded faster (4.4% CAGR vs -26.8%).
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...
New Fortress Energy Inc. is a global energy infrastructure firm developing, owning and operating LNG import/export terminals, natural gas supply networks and low-carbon projects. It serves utility, industrial and public sector clients across the Americas and Caribbean, delivering affordable, lower-emission energy resources.
IRDM vs NFE — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $326.2M |
| Net Profit | $21.6M | $-847.1M |
| Gross Margin | — | 35.5% |
| Operating Margin | 23.2% | -193.0% |
| Net Margin | 9.9% | -259.7% |
| Revenue YoY | 1.9% | -7.0% |
| Net Profit YoY | — | -277.4% |
| EPS (diluted) | — | $-3.03 |
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 | $326.2M | ||
| Q3 25 | $226.9M | $240.3M | ||
| Q2 25 | $216.9M | $228.1M | ||
| Q1 25 | $214.9M | $384.9M | ||
| Q4 24 | $213.0M | $350.7M | ||
| Q3 24 | $212.8M | $446.0M | ||
| Q2 24 | $201.1M | $291.2M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $-847.1M | ||
| Q3 25 | $37.1M | $-263.0M | ||
| Q2 25 | $22.0M | $-546.5M | ||
| Q1 25 | $30.4M | $-175.4M | ||
| Q4 24 | $36.3M | $-224.4M | ||
| Q3 24 | $24.4M | $9.3M | ||
| Q2 24 | $32.3M | $-88.9M |
| Q1 26 | — | — | ||
| Q4 25 | — | 35.5% | ||
| Q3 25 | — | 18.1% | ||
| Q2 25 | — | 8.4% | ||
| Q1 25 | — | 21.4% | ||
| Q4 24 | — | 17.6% | ||
| Q3 24 | — | 27.1% | ||
| Q2 24 | — | 23.8% |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | -193.0% | ||
| Q3 25 | 30.9% | -37.4% | ||
| Q2 25 | 23.2% | -170.3% | ||
| Q1 25 | 28.1% | -3.3% | ||
| Q4 24 | 24.5% | 65.0% | ||
| Q3 24 | 25.8% | 17.8% | ||
| Q2 24 | 21.7% | 12.3% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | -259.7% | ||
| Q3 25 | 16.4% | -109.4% | ||
| Q2 25 | 10.1% | -239.6% | ||
| Q1 25 | 14.2% | -45.6% | ||
| Q4 24 | 17.1% | -64.0% | ||
| Q3 24 | 11.5% | 2.1% | ||
| Q2 24 | 16.1% | -30.5% |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $-3.03 | ||
| Q3 25 | $0.35 | $-0.96 | ||
| Q2 25 | $0.20 | $-1.99 | ||
| Q1 25 | $0.27 | $-0.65 | ||
| Q4 24 | $0.30 | $-1.10 | ||
| Q3 24 | $0.21 | $0.03 | ||
| Q2 24 | $0.27 | $-0.42 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $226.5M |
| Total DebtLower is stronger | — | $8.2B |
| Stockholders' EquityBook value | — | $182.6M |
| Total Assets | — | $10.6B |
| Debt / EquityLower = less leverage | — | 44.78× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $226.5M | ||
| Q3 25 | $88.5M | $145.2M | ||
| Q2 25 | $79.3M | $551.1M | ||
| Q1 25 | $50.9M | $447.9M | ||
| Q4 24 | $93.5M | $492.9M | ||
| Q3 24 | $159.6M | $90.8M | ||
| Q2 24 | $63.5M | $133.0M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $8.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | $8.9B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | $182.6M | ||
| Q3 25 | $450.5M | $1.1B | ||
| Q2 25 | $473.6M | $1.3B | ||
| Q1 25 | $518.4M | $1.8B | ||
| Q4 24 | $576.6M | $1.9B | ||
| Q3 24 | $663.8M | $1.6B | ||
| Q2 24 | $786.7M | $1.6B |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $10.6B | ||
| Q3 25 | $2.6B | $12.0B | ||
| Q2 25 | $2.6B | $12.0B | ||
| Q1 25 | $2.6B | $13.1B | ||
| Q4 24 | $2.7B | $12.9B | ||
| Q3 24 | $2.8B | $12.0B | ||
| Q2 24 | $2.7B | $11.4B |
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | 44.78× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.05× | 4.74× | ||
| 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 | — | $-76.2M |
| Free Cash FlowOCF − Capex | — | $-134.8M |
| FCF MarginFCF / Revenue | — | -41.3% |
| Capex IntensityCapex / Revenue | 13.7% | 18.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-1.4B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $-76.2M | ||
| Q3 25 | $100.8M | $-171.0M | ||
| Q2 25 | $129.6M | $-329.0M | ||
| Q1 25 | $61.1M | $-7.2M | ||
| Q4 24 | $104.8M | $445.3M | ||
| Q3 24 | $118.6M | $-20.0M | ||
| Q2 24 | $81.1M | $113.9M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $-134.8M | ||
| Q3 25 | $79.2M | $-231.6M | ||
| Q2 25 | $108.9M | $-726.7M | ||
| Q1 25 | $36.5M | $-262.3M | ||
| Q4 24 | $80.5M | $-210.3M | ||
| Q3 24 | $100.0M | $-367.0M | ||
| Q2 24 | $68.7M | $-493.2M |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | -41.3% | ||
| Q3 25 | 34.9% | -96.4% | ||
| Q2 25 | 50.2% | -318.6% | ||
| Q1 25 | 17.0% | -68.2% | ||
| Q4 24 | 37.8% | -60.0% | ||
| Q3 24 | 47.0% | -82.3% | ||
| Q2 24 | 34.2% | -169.3% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 18.0% | ||
| Q3 25 | 9.5% | 25.2% | ||
| Q2 25 | 9.5% | 174.4% | ||
| Q1 25 | 11.4% | 66.3% | ||
| Q4 24 | 11.4% | 187.0% | ||
| Q3 24 | 8.7% | 77.8% | ||
| Q2 24 | 6.2% | 208.4% |
| 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× | -2.15× | ||
| 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% |
NFE
Segment breakdown not available.
