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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and TRUPANION, INC. (TRUP). Click either name above to swap in a different company.
TRUPANION, INC. is the larger business by last-quarter revenue ($376.9M vs $219.1M, roughly 1.7× Iridium Communications Inc.). On growth, TRUPANION, INC. posted the faster year-over-year revenue change (11.7% vs 1.9%). Over the past eight quarters, TRUPANION, INC.'s revenue compounded faster (11.0% 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...
TRUPANION, INC.TRUPEarnings & Financial Report
Trupanion, Inc. is a pet insurance provider headquartered in Seattle, Washington. Established in 1998, Trupanion operates across the United States, Canada, Australia, and Puerto Rico. The company offers coverage for pets and is self-underwritten by the American Pet Insurance Company (APIC).
IRDM vs TRUP — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $376.9M |
| Net Profit | $21.6M | — |
| Gross Margin | — | 17.3% |
| Operating Margin | 23.2% | 1.9% |
| Net Margin | 9.9% | — |
| Revenue YoY | 1.9% | 11.7% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $0.13 |
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 | $376.9M | ||
| Q3 25 | $226.9M | $366.9M | ||
| Q2 25 | $216.9M | $353.6M | ||
| Q1 25 | $214.9M | $342.0M | ||
| Q4 24 | $213.0M | $337.3M | ||
| Q3 24 | $212.8M | $327.5M | ||
| Q2 24 | $201.1M | $314.8M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | — | ||
| Q3 25 | $37.1M | — | ||
| Q2 25 | $22.0M | — | ||
| Q1 25 | $30.4M | — | ||
| Q4 24 | $36.3M | — | ||
| Q3 24 | $24.4M | — | ||
| Q2 24 | $32.3M | — |
| Q1 26 | — | — | ||
| Q4 25 | — | 17.3% | ||
| Q3 25 | — | 16.4% | ||
| Q2 25 | — | 15.5% | ||
| Q1 25 | — | 14.9% | ||
| Q4 24 | — | 15.7% | ||
| Q3 24 | — | 15.1% | ||
| Q2 24 | — | 12.8% |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | 1.9% | ||
| Q3 25 | 30.9% | 1.6% | ||
| Q2 25 | 23.2% | 0.7% | ||
| Q1 25 | 28.1% | -0.4% | ||
| Q4 24 | 24.5% | 0.1% | ||
| Q3 24 | 25.8% | 0.5% | ||
| Q2 24 | 21.7% | -1.7% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | — | ||
| Q3 25 | 16.4% | — | ||
| Q2 25 | 10.1% | — | ||
| Q1 25 | 14.2% | — | ||
| Q4 24 | 17.1% | — | ||
| Q3 24 | 11.5% | — | ||
| Q2 24 | 16.1% | — |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $0.13 | ||
| Q3 25 | $0.35 | $0.13 | ||
| Q2 25 | $0.20 | $0.22 | ||
| Q1 25 | $0.27 | $-0.03 | ||
| Q4 24 | $0.30 | $0.04 | ||
| Q3 24 | $0.21 | $0.03 | ||
| Q2 24 | $0.27 | $-0.14 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $370.7M |
| Total DebtLower is stronger | — | $101.8M |
| Stockholders' EquityBook value | — | $383.9M |
| Total Assets | — | $915.0M |
| Debt / EquityLower = less leverage | — | 0.27× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $370.7M | ||
| Q3 25 | $88.5M | $348.5M | ||
| Q2 25 | $79.3M | $319.6M | ||
| Q1 25 | $50.9M | $321.8M | ||
| Q4 24 | $93.5M | $307.4M | ||
| Q3 24 | $159.6M | $293.1M | ||
| Q2 24 | $63.5M | $277.2M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $101.8M | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | $127.5M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | $383.9M | ||
| Q3 25 | $450.5M | $368.6M | ||
| Q2 25 | $473.6M | $355.5M | ||
| Q1 25 | $518.4M | $333.7M | ||
| Q4 24 | $576.6M | $323.3M | ||
| Q3 24 | $663.8M | $320.2M | ||
| Q2 24 | $786.7M | $305.8M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $915.0M | ||
| Q3 25 | $2.6B | $880.2M | ||
| Q2 25 | $2.6B | $847.8M | ||
| Q1 25 | $2.6B | $837.2M | ||
| Q4 24 | $2.7B | $806.9M | ||
| Q3 24 | $2.8B | $816.1M | ||
| Q2 24 | $2.7B | $795.9M |
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | 0.27× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.05× | 0.39× | ||
| 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 | — | $29.3M |
| Free Cash FlowOCF − Capex | — | $25.3M |
| FCF MarginFCF / Revenue | — | 6.7% |
| Capex IntensityCapex / Revenue | 13.7% | 1.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $75.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $29.3M | ||
| Q3 25 | $100.8M | $29.2M | ||
| Q2 25 | $129.6M | $15.0M | ||
| Q1 25 | $61.1M | $16.0M | ||
| Q4 24 | $104.8M | $23.7M | ||
| Q3 24 | $118.6M | $15.3M | ||
| Q2 24 | $81.1M | $6.9M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $25.3M | ||
| Q3 25 | $79.2M | $23.9M | ||
| Q2 25 | $108.9M | $12.0M | ||
| Q1 25 | $36.5M | $14.0M | ||
| Q4 24 | $80.5M | $21.8M | ||
| Q3 24 | $100.0M | $13.4M | ||
| Q2 24 | $68.7M | $4.0M |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | 6.7% | ||
| Q3 25 | 34.9% | 6.5% | ||
| Q2 25 | 50.2% | 3.4% | ||
| Q1 25 | 17.0% | 4.1% | ||
| Q4 24 | 37.8% | 6.5% | ||
| Q3 24 | 47.0% | 4.1% | ||
| Q2 24 | 34.2% | 1.3% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 1.0% | ||
| Q3 25 | 9.5% | 1.4% | ||
| Q2 25 | 9.5% | 0.8% | ||
| Q1 25 | 11.4% | 0.6% | ||
| Q4 24 | 11.4% | 0.6% | ||
| Q3 24 | 8.7% | 0.6% | ||
| Q2 24 | 6.2% | 0.9% |
| 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% |
TRUP
| Subscriptionbusiness | $261.4M | 69% |
| Other | $115.4M | 31% |
