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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and NNN REIT, INC. (NNN). Click either name above to swap in a different company.
NNN REIT, INC. is the larger business by last-quarter revenue ($240.4M vs $219.1M, roughly 1.1× Iridium Communications Inc.). NNN REIT, INC. runs the higher net margin — 39.1% vs 9.9%, a 29.2% gap on every dollar of revenue. On growth, NNN REIT, INC. posted the faster year-over-year revenue change (4.1% vs 1.9%). Over the past eight quarters, NNN REIT, INC.'s revenue compounded faster (5.3% 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...
NNN Reit, Inc. is a real estate investment trust that invests primarily in restaurant properties that are subject to long-term triple net leases, usually under leaseback arrangements. It is organized in Maryland with its principal office in Orlando, Florida.
IRDM vs NNN — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $240.4M |
| Net Profit | $21.6M | $94.0M |
| Gross Margin | — | — |
| Operating Margin | 23.2% | 61.0% |
| Net Margin | 9.9% | 39.1% |
| Revenue YoY | 1.9% | 4.1% |
| Net Profit YoY | — | -2.6% |
| EPS (diluted) | — | $0.50 |
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 | $240.4M | ||
| Q4 25 | $212.9M | $238.4M | ||
| Q3 25 | $226.9M | $230.2M | ||
| Q2 25 | $216.9M | $226.8M | ||
| Q1 25 | $214.9M | $230.9M | ||
| Q4 24 | $213.0M | $218.5M | ||
| Q3 24 | $212.8M | $218.6M | ||
| Q2 24 | $201.1M | $216.8M |
| Q1 26 | $21.6M | $94.0M | ||
| Q4 25 | $24.9M | $96.0M | ||
| Q3 25 | $37.1M | $96.8M | ||
| Q2 25 | $22.0M | $100.5M | ||
| Q1 25 | $30.4M | $96.5M | ||
| Q4 24 | $36.3M | $97.9M | ||
| Q3 24 | $24.4M | $97.9M | ||
| Q2 24 | $32.3M | $106.7M |
| Q1 26 | 23.2% | 61.0% | ||
| Q4 25 | 25.9% | 62.3% | ||
| Q3 25 | 30.9% | 64.0% | ||
| Q2 25 | 23.2% | 66.0% | ||
| Q1 25 | 28.1% | 62.3% | ||
| Q4 24 | 24.5% | 65.8% | ||
| Q3 24 | 25.8% | 65.7% | ||
| Q2 24 | 21.7% | 70.2% |
| Q1 26 | 9.9% | 39.1% | ||
| Q4 25 | 11.7% | 40.2% | ||
| Q3 25 | 16.4% | 42.1% | ||
| Q2 25 | 10.1% | 44.3% | ||
| Q1 25 | 14.2% | 41.8% | ||
| Q4 24 | 17.1% | 44.8% | ||
| Q3 24 | 11.5% | 44.8% | ||
| Q2 24 | 16.1% | 49.2% |
| Q1 26 | — | $0.50 | ||
| Q4 25 | $0.24 | $0.51 | ||
| Q3 25 | $0.35 | $0.51 | ||
| Q2 25 | $0.20 | $0.54 | ||
| Q1 25 | $0.27 | $0.51 | ||
| Q4 24 | $0.30 | $0.52 | ||
| Q3 24 | $0.21 | $0.53 | ||
| Q2 24 | $0.27 | $0.58 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $4.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $4.4B |
| Total Assets | — | $9.4B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $4.6M | ||
| Q4 25 | $96.5M | $5.0M | ||
| Q3 25 | $88.5M | $157.9M | ||
| Q2 25 | $79.3M | $6.0M | ||
| Q1 25 | $50.9M | $5.1M | ||
| Q4 24 | $93.5M | $8.7M | ||
| Q3 24 | $159.6M | $173.5M | ||
| Q2 24 | $63.5M | $2.1M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $4.4B | ||
| Q4 25 | $462.6M | $4.4B | ||
| Q3 25 | $450.5M | $4.4B | ||
| Q2 25 | $473.6M | $4.4B | ||
| Q1 25 | $518.4M | $4.4B | ||
| Q4 24 | $576.6M | $4.4B | ||
| Q3 24 | $663.8M | $4.4B | ||
| Q2 24 | $786.7M | $4.2B |
| Q1 26 | — | $9.4B | ||
| Q4 25 | $2.5B | $9.4B | ||
| Q3 25 | $2.6B | $9.5B | ||
| Q2 25 | $2.6B | $9.1B | ||
| Q1 25 | $2.6B | $9.0B | ||
| Q4 24 | $2.7B | $8.9B | ||
| Q3 24 | $2.8B | $8.9B | ||
| Q2 24 | $2.7B | $8.7B |
| Q1 26 | — | — | ||
| 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% |
NNN
Segment breakdown not available.
