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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and QUALYS, INC. (QLYS). Click either name above to swap in a different company.
Iridium Communications Inc. is the larger business by last-quarter revenue ($219.1M vs $175.3M, roughly 1.2× QUALYS, INC.). QUALYS, INC. runs the higher net margin — 30.3% vs 9.9%, a 20.5% gap on every dollar of revenue. On growth, QUALYS, INC. posted the faster year-over-year revenue change (10.1% vs 1.9%). Over the past eight quarters, QUALYS, INC.'s revenue compounded faster (9.6% 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...
Qualys, Inc. is an American technology firm based in Foster City, California, specializing in cloud security, compliance and related services.
IRDM vs QLYS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $175.3M |
| Net Profit | $21.6M | $53.1M |
| Gross Margin | — | 83.4% |
| Operating Margin | 23.2% | 33.6% |
| Net Margin | 9.9% | 30.3% |
| Revenue YoY | 1.9% | 10.1% |
| Net Profit YoY | — | 20.9% |
| EPS (diluted) | — | $1.47 |
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 | $175.3M | ||
| Q3 25 | $226.9M | $169.9M | ||
| Q2 25 | $216.9M | $164.1M | ||
| Q1 25 | $214.9M | $159.9M | ||
| Q4 24 | $213.0M | $159.2M | ||
| Q3 24 | $212.8M | $153.9M | ||
| Q2 24 | $201.1M | $148.7M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $53.1M | ||
| Q3 25 | $37.1M | $50.3M | ||
| Q2 25 | $22.0M | $47.3M | ||
| Q1 25 | $30.4M | $47.5M | ||
| Q4 24 | $36.3M | $44.0M | ||
| Q3 24 | $24.4M | $46.2M | ||
| Q2 24 | $32.3M | $43.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 83.4% | ||
| Q3 25 | — | 83.6% | ||
| Q2 25 | — | 82.4% | ||
| Q1 25 | — | 81.9% | ||
| Q4 24 | — | 81.8% | ||
| Q3 24 | — | 81.3% | ||
| Q2 24 | — | 82.2% |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | 33.6% | ||
| Q3 25 | 30.9% | 35.3% | ||
| Q2 25 | 23.2% | 31.3% | ||
| Q1 25 | 28.1% | 32.4% | ||
| Q4 24 | 24.5% | 31.0% | ||
| Q3 24 | 25.8% | 29.2% | ||
| Q2 24 | 21.7% | 32.3% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | 30.3% | ||
| Q3 25 | 16.4% | 29.6% | ||
| Q2 25 | 10.1% | 28.8% | ||
| Q1 25 | 14.2% | 29.7% | ||
| Q4 24 | 17.1% | 27.6% | ||
| Q3 24 | 11.5% | 30.0% | ||
| Q2 24 | 16.1% | 29.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $1.47 | ||
| Q3 25 | $0.35 | $1.39 | ||
| Q2 25 | $0.20 | $1.29 | ||
| Q1 25 | $0.27 | $1.29 | ||
| Q4 24 | $0.30 | $1.19 | ||
| Q3 24 | $0.21 | $1.24 | ||
| Q2 24 | $0.27 | $1.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $250.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $561.2M |
| Total Assets | — | $1.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $250.3M | ||
| Q3 25 | $88.5M | $225.3M | ||
| Q2 25 | $79.3M | $194.0M | ||
| Q1 25 | $50.9M | $290.7M | ||
| Q4 24 | $93.5M | $232.2M | ||
| Q3 24 | $159.6M | $235.4M | ||
| Q2 24 | $63.5M | $281.2M |
| 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 | $561.2M | ||
| Q3 25 | $450.5M | $529.4M | ||
| Q2 25 | $473.6M | $508.2M | ||
| Q1 25 | $518.4M | $498.0M | ||
| Q4 24 | $576.6M | $477.1M | ||
| Q3 24 | $663.8M | $449.6M | ||
| Q2 24 | $786.7M | $427.8M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $1.1B | ||
| Q3 25 | $2.6B | $1.0B | ||
| Q2 25 | $2.6B | $999.5M | ||
| Q1 25 | $2.6B | $996.5M | ||
| Q4 24 | $2.7B | $973.5M | ||
| Q3 24 | $2.8B | $908.3M | ||
| Q2 24 | $2.7B | $876.6M |
| 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 | — | $75.7M |
| Free Cash FlowOCF − Capex | — | $74.9M |
| FCF MarginFCF / Revenue | — | 42.8% |
| Capex IntensityCapex / Revenue | 13.7% | 0.4% |
| Cash ConversionOCF / Net Profit | — | 1.42× |
| TTM Free Cash FlowTrailing 4 quarters | — | $304.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $75.7M | ||
| Q3 25 | $100.8M | $90.4M | ||
| Q2 25 | $129.6M | $33.8M | ||
| Q1 25 | $61.1M | $109.6M | ||
| Q4 24 | $104.8M | $47.7M | ||
| Q3 24 | $118.6M | $61.0M | ||
| Q2 24 | $81.1M | $49.8M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $74.9M | ||
| Q3 25 | $79.2M | $89.5M | ||
| Q2 25 | $108.9M | $32.4M | ||
| Q1 25 | $36.5M | $107.5M | ||
| Q4 24 | $80.5M | $41.9M | ||
| Q3 24 | $100.0M | $57.6M | ||
| Q2 24 | $68.7M | $48.8M |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | 42.8% | ||
| Q3 25 | 34.9% | 52.7% | ||
| Q2 25 | 50.2% | 19.8% | ||
| Q1 25 | 17.0% | 67.3% | ||
| Q4 24 | 37.8% | 26.3% | ||
| Q3 24 | 47.0% | 37.4% | ||
| Q2 24 | 34.2% | 32.8% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 0.4% | ||
| Q3 25 | 9.5% | 0.5% | ||
| Q2 25 | 9.5% | 0.8% | ||
| Q1 25 | 11.4% | 1.3% | ||
| Q4 24 | 11.4% | 3.7% | ||
| Q3 24 | 8.7% | 2.2% | ||
| Q2 24 | 6.2% | 0.7% |
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | 1.42× | ||
| Q3 25 | 2.71× | 1.80× | ||
| Q2 25 | 5.90× | 0.71× | ||
| Q1 25 | 2.01× | 2.31× | ||
| Q4 24 | 2.88× | 1.09× | ||
| Q3 24 | 4.85× | 1.32× | ||
| Q2 24 | 2.51× | 1.14× |
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% |
QLYS
| Sales Channel Through Intermediary | $88.6M | 51% |
| Sales Channel Directly To Consumer | $86.7M | 49% |
