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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and UPWORK, INC (UPWK). Click either name above to swap in a different company.
Iridium Communications Inc. is the larger business by last-quarter revenue ($219.1M vs $198.4M, roughly 1.1× UPWORK, INC). Iridium Communications Inc. runs the higher net margin — 9.9% vs 7.9%, a 2.0% gap on every dollar of revenue. On growth, UPWORK, INC posted the faster year-over-year revenue change (3.6% vs 1.9%). Over the past eight quarters, Iridium Communications Inc.'s revenue compounded faster (4.4% CAGR vs 1.9%).
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...
Upwork Inc. is an American freelancing platform headquartered in Santa Clara and San Francisco, California. The company was formed in 2013 as Elance-oDesk after the merger of Elance Inc. and oDesk Corp. The merged company was subsequently rebranded as Upwork in 2015.
IRDM vs UPWK — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $198.4M |
| Net Profit | $21.6M | $15.6M |
| Gross Margin | — | 78.0% |
| Operating Margin | 23.2% | 14.3% |
| Net Margin | 9.9% | 7.9% |
| Revenue YoY | 1.9% | 3.6% |
| Net Profit YoY | — | -89.4% |
| EPS (diluted) | — | $0.12 |
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 | $198.4M | ||
| Q3 25 | $226.9M | $201.7M | ||
| Q2 25 | $216.9M | $194.9M | ||
| Q1 25 | $214.9M | $192.7M | ||
| Q4 24 | $213.0M | $191.5M | ||
| Q3 24 | $212.8M | $193.8M | ||
| Q2 24 | $201.1M | $193.1M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $15.6M | ||
| Q3 25 | $37.1M | $29.3M | ||
| Q2 25 | $22.0M | $32.7M | ||
| Q1 25 | $30.4M | $37.7M | ||
| Q4 24 | $36.3M | $147.2M | ||
| Q3 24 | $24.4M | $27.8M | ||
| Q2 24 | $32.3M | $22.2M |
| Q1 26 | — | — | ||
| Q4 25 | — | 78.0% | ||
| Q3 25 | — | 77.3% | ||
| Q2 25 | — | 77.7% | ||
| Q1 25 | — | 78.3% | ||
| Q4 24 | — | 77.7% | ||
| Q3 24 | — | 77.6% | ||
| Q2 24 | — | 77.3% |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | 14.3% | ||
| Q3 25 | 30.9% | 14.8% | ||
| Q2 25 | 23.2% | 16.7% | ||
| Q1 25 | 28.1% | 20.1% | ||
| Q4 24 | 24.5% | 7.1% | ||
| Q3 24 | 25.8% | 10.7% | ||
| Q2 24 | 21.7% | 9.2% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | 7.9% | ||
| Q3 25 | 16.4% | 14.5% | ||
| Q2 25 | 10.1% | 16.8% | ||
| Q1 25 | 14.2% | 19.6% | ||
| Q4 24 | 17.1% | 76.9% | ||
| Q3 24 | 11.5% | 14.3% | ||
| Q2 24 | 16.1% | 11.5% |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $0.12 | ||
| Q3 25 | $0.35 | $0.21 | ||
| Q2 25 | $0.20 | $0.24 | ||
| Q1 25 | $0.27 | $0.27 | ||
| Q4 24 | $0.30 | $1.02 | ||
| Q3 24 | $0.21 | $0.20 | ||
| Q2 24 | $0.27 | $0.17 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $672.8M |
| Total DebtLower is stronger | — | $359.8M |
| Stockholders' EquityBook value | — | $630.3M |
| Total Assets | — | $1.3B |
| Debt / EquityLower = less leverage | — | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $672.8M | ||
| Q3 25 | $88.5M | $643.1M | ||
| Q2 25 | $79.3M | $634.6M | ||
| Q1 25 | $50.9M | $622.1M | ||
| Q4 24 | $93.5M | $622.1M | ||
| Q3 24 | $159.6M | $601.2M | ||
| Q2 24 | $63.5M | $497.7M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $359.8M | ||
| Q3 25 | — | $359.3M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | $357.9M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | $630.3M | ||
| Q3 25 | $450.5M | $628.1M | ||
| Q2 25 | $473.6M | $608.7M | ||
| Q1 25 | $518.4M | $594.3M | ||
| Q4 24 | $576.6M | $575.4M | ||
| Q3 24 | $663.8M | $411.2M | ||
| Q2 24 | $786.7M | $361.1M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $1.3B | ||
| Q3 25 | $2.6B | $1.3B | ||
| Q2 25 | $2.6B | $1.3B | ||
| Q1 25 | $2.6B | $1.2B | ||
| Q4 24 | $2.7B | $1.2B | ||
| Q3 24 | $2.8B | $1.1B | ||
| Q2 24 | $2.7B | $1.0B |
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | 0.57× | ||
| Q3 25 | — | 0.57× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.05× | 0.62× | ||
| 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 | — | $63.7M |
| Free Cash FlowOCF − Capex | — | $63.2M |
| FCF MarginFCF / Revenue | — | 31.9% |
| Capex IntensityCapex / Revenue | 13.7% | 0.2% |
| Cash ConversionOCF / Net Profit | — | 4.07× |
| TTM Free Cash FlowTrailing 4 quarters | — | $242.5M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $63.7M | ||
| Q3 25 | $100.8M | $75.1M | ||
| Q2 25 | $129.6M | $72.5M | ||
| Q1 25 | $61.1M | $37.0M | ||
| Q4 24 | $104.8M | $38.6M | ||
| Q3 24 | $118.6M | $61.0M | ||
| Q2 24 | $81.1M | $39.2M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $63.2M | ||
| Q3 25 | $79.2M | $74.6M | ||
| Q2 25 | $108.9M | $70.1M | ||
| Q1 25 | $36.5M | $34.5M | ||
| Q4 24 | $80.5M | $37.0M | ||
| Q3 24 | $100.0M | $59.8M | ||
| Q2 24 | $68.7M | $38.6M |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | 31.9% | ||
| Q3 25 | 34.9% | 37.0% | ||
| Q2 25 | 50.2% | 36.0% | ||
| Q1 25 | 17.0% | 17.9% | ||
| Q4 24 | 37.8% | 19.3% | ||
| Q3 24 | 47.0% | 30.8% | ||
| Q2 24 | 34.2% | 20.0% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 0.2% | ||
| Q3 25 | 9.5% | 0.2% | ||
| Q2 25 | 9.5% | 1.2% | ||
| Q1 25 | 11.4% | 1.3% | ||
| Q4 24 | 11.4% | 0.8% | ||
| Q3 24 | 8.7% | 0.6% | ||
| Q2 24 | 6.2% | 0.3% |
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | 4.07× | ||
| Q3 25 | 2.71× | 2.56× | ||
| Q2 25 | 5.90× | 2.22× | ||
| Q1 25 | 2.01× | 0.98× | ||
| Q4 24 | 2.88× | 0.26× | ||
| Q3 24 | 4.85× | 2.20× | ||
| Q2 24 | 2.51× | 1.76× |
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% |
UPWK
Segment breakdown not available.
