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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and Skyward Specialty Insurance Group, Inc. (SKWD). Click either name above to swap in a different company.
Skyward Specialty Insurance Group, Inc. is the larger business by last-quarter revenue ($385.6M vs $219.1M, roughly 1.8× Iridium Communications Inc.). Skyward Specialty Insurance Group, Inc. runs the higher net margin — 11.2% vs 9.9%, a 1.4% gap on every dollar of revenue. On growth, Skyward Specialty Insurance Group, Inc. posted the faster year-over-year revenue change (26.7% vs 1.9%). Over the past eight quarters, Skyward Specialty Insurance Group, Inc.'s revenue compounded faster (20.6% 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...
Skyward Specialty Insurance Group, Inc. is a specialty property and casualty insurance provider offering tailored coverage solutions including commercial auto, general liability, professional indemnity, and specialty property policies. It primarily serves small-to-medium enterprises and niche industry segments across the United States, focusing on underwriting complex, hard-to-place risks for underserved client groups.
IRDM vs SKWD — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $385.6M |
| Net Profit | $21.6M | $43.2M |
| Gross Margin | — | — |
| Operating Margin | 23.2% | 14.2% |
| Net Margin | 9.9% | 11.2% |
| Revenue YoY | 1.9% | 26.7% |
| Net Profit YoY | — | 200.1% |
| EPS (diluted) | — | $1.03 |
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 | $385.6M | ||
| Q3 25 | $226.9M | $382.5M | ||
| Q2 25 | $216.9M | $319.9M | ||
| Q1 25 | $214.9M | $328.5M | ||
| Q4 24 | $213.0M | $304.4M | ||
| Q3 24 | $212.8M | $300.9M | ||
| Q2 24 | $201.1M | $279.9M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $43.2M | ||
| Q3 25 | $37.1M | $45.9M | ||
| Q2 25 | $22.0M | $38.8M | ||
| Q1 25 | $30.4M | $42.1M | ||
| Q4 24 | $36.3M | $14.4M | ||
| Q3 24 | $24.4M | $36.7M | ||
| Q2 24 | $32.3M | $31.0M |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | 14.2% | ||
| Q3 25 | 30.9% | 15.8% | ||
| Q2 25 | 23.2% | 15.6% | ||
| Q1 25 | 28.1% | 15.7% | ||
| Q4 24 | 24.5% | 6.1% | ||
| Q3 24 | 25.8% | 15.6% | ||
| Q2 24 | 21.7% | 14.4% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | 11.2% | ||
| Q3 25 | 16.4% | 12.0% | ||
| Q2 25 | 10.1% | 12.1% | ||
| Q1 25 | 14.2% | 12.8% | ||
| Q4 24 | 17.1% | 4.7% | ||
| Q3 24 | 11.5% | 12.2% | ||
| Q2 24 | 16.1% | 11.1% |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $1.03 | ||
| Q3 25 | $0.35 | $1.10 | ||
| Q2 25 | $0.20 | $0.93 | ||
| Q1 25 | $0.27 | $1.01 | ||
| Q4 24 | $0.30 | $0.33 | ||
| Q3 24 | $0.21 | $0.89 | ||
| Q2 24 | $0.27 | $0.75 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $168.5M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $1.0B |
| Total Assets | — | $4.8B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $168.5M | ||
| Q3 25 | $88.5M | $160.1M | ||
| Q2 25 | $79.3M | $136.6M | ||
| Q1 25 | $50.9M | $112.9M | ||
| Q4 24 | $93.5M | $121.6M | ||
| Q3 24 | $159.6M | $105.6M | ||
| Q2 24 | $63.5M | $73.0M |
| 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 | $1.0B | ||
| Q3 25 | $450.5M | $961.4M | ||
| Q2 25 | $473.6M | $899.9M | ||
| Q1 25 | $518.4M | $850.7M | ||
| Q4 24 | $576.6M | $794.0M | ||
| Q3 24 | $663.8M | $797.5M | ||
| Q2 24 | $786.7M | $723.6M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $4.8B | ||
| Q3 25 | $2.6B | $4.6B | ||
| Q2 25 | $2.6B | $4.3B | ||
| Q1 25 | $2.6B | $4.0B | ||
| Q4 24 | $2.7B | $3.7B | ||
| Q3 24 | $2.8B | $3.6B | ||
| Q2 24 | $2.7B | $3.4B |
| 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 | — | $408.1M |
| Free Cash FlowOCF − Capex | — | $402.6M |
| FCF MarginFCF / Revenue | — | 104.4% |
| Capex IntensityCapex / Revenue | 13.7% | 1.4% |
| Cash ConversionOCF / Net Profit | — | 9.44× |
| TTM Free Cash FlowTrailing 4 quarters | — | $755.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $408.1M | ||
| Q3 25 | $100.8M | $171.4M | ||
| Q2 25 | $129.6M | $88.2M | ||
| Q1 25 | $61.1M | $96.8M | ||
| Q4 24 | $104.8M | $305.1M | ||
| Q3 24 | $118.6M | $168.0M | ||
| Q2 24 | $81.1M | $21.0M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $402.6M | ||
| Q3 25 | $79.2M | $168.9M | ||
| Q2 25 | $108.9M | $87.1M | ||
| Q1 25 | $36.5M | $96.6M | ||
| Q4 24 | $80.5M | $300.9M | ||
| Q3 24 | $100.0M | $167.6M | ||
| Q2 24 | $68.7M | $18.4M |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | 104.4% | ||
| Q3 25 | 34.9% | 44.2% | ||
| Q2 25 | 50.2% | 27.2% | ||
| Q1 25 | 17.0% | 29.4% | ||
| Q4 24 | 37.8% | 98.8% | ||
| Q3 24 | 47.0% | 55.7% | ||
| Q2 24 | 34.2% | 6.6% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 1.4% | ||
| Q3 25 | 9.5% | 0.6% | ||
| Q2 25 | 9.5% | 0.3% | ||
| Q1 25 | 11.4% | 0.1% | ||
| Q4 24 | 11.4% | 1.4% | ||
| Q3 24 | 8.7% | 0.1% | ||
| Q2 24 | 6.2% | 0.9% |
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | 9.44× | ||
| Q3 25 | 2.71× | 3.73× | ||
| Q2 25 | 5.90× | 2.27× | ||
| Q1 25 | 2.01× | 2.30× | ||
| Q4 24 | 2.88× | 21.18× | ||
| Q3 24 | 4.85× | 4.58× | ||
| Q2 24 | 2.51× | 0.68× |
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% |
SKWD
Segment breakdown not available.
