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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and VARONIS SYSTEMS INC (VRNS). Click either name above to swap in a different company.
Iridium Communications Inc. is the larger business by last-quarter revenue ($219.1M vs $173.1M, roughly 1.3× VARONIS SYSTEMS INC). On growth, VARONIS SYSTEMS INC posted the faster year-over-year revenue change (26.9% vs 1.9%). Over the past eight quarters, VARONIS SYSTEMS INC's revenue compounded faster (15.2% 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...
Varonis Systems, Inc. is a software company based in Miami, Florida with R&D offices in Herzliya, Israel. The company’s Data Security Platform analyzes data and data activity using the insights to identify data exposure risks stemming from access permissions and software-as-a-service (SaaS) app configurations, triggering automated remediation capabilities in response.
IRDM vs VRNS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $173.1M |
| Net Profit | $21.6M | — |
| Gross Margin | — | 76.0% |
| Operating Margin | 23.2% | -1.7% |
| Net Margin | 9.9% | — |
| Revenue YoY | 1.9% | 26.9% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | — |
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 | $173.1M | ||
| Q4 25 | $212.9M | $173.4M | ||
| Q3 25 | $226.9M | $161.6M | ||
| Q2 25 | $216.9M | $152.2M | ||
| Q1 25 | $214.9M | $136.4M | ||
| Q4 24 | $213.0M | $158.5M | ||
| Q3 24 | $212.8M | $148.1M | ||
| Q2 24 | $201.1M | $130.3M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $-27.8M | ||
| Q3 25 | $37.1M | $-29.9M | ||
| Q2 25 | $22.0M | $-35.8M | ||
| Q1 25 | $30.4M | $-35.8M | ||
| Q4 24 | $36.3M | $-13.0M | ||
| Q3 24 | $24.4M | $-18.3M | ||
| Q2 24 | $32.3M | $-23.9M |
| Q1 26 | — | 76.0% | ||
| Q4 25 | — | 78.9% | ||
| Q3 25 | — | 78.2% | ||
| Q2 25 | — | 79.5% | ||
| Q1 25 | — | 78.7% | ||
| Q4 24 | — | 83.6% | ||
| Q3 24 | — | 83.8% | ||
| Q2 24 | — | 82.8% |
| Q1 26 | 23.2% | -1.7% | ||
| Q4 25 | 25.9% | -17.5% | ||
| Q3 25 | 30.9% | -22.2% | ||
| Q2 25 | 23.2% | -24.0% | ||
| Q1 25 | 28.1% | -32.1% | ||
| Q4 24 | 24.5% | -11.1% | ||
| Q3 24 | 25.8% | -16.0% | ||
| Q2 24 | 21.7% | -22.1% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | -16.0% | ||
| Q3 25 | 16.4% | -18.5% | ||
| Q2 25 | 10.1% | -23.5% | ||
| Q1 25 | 14.2% | -26.2% | ||
| Q4 24 | 17.1% | -8.2% | ||
| Q3 24 | 11.5% | -12.4% | ||
| Q2 24 | 16.1% | -18.4% |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $-0.23 | ||
| Q3 25 | $0.35 | $-0.26 | ||
| Q2 25 | $0.20 | $-0.32 | ||
| Q1 25 | $0.27 | $-0.32 | ||
| Q4 24 | $0.30 | $-0.12 | ||
| Q3 24 | $0.21 | $-0.16 | ||
| Q2 24 | $0.27 | $-0.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $179.3M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | — | $453.5M |
| Total Assets | — | $1.6B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $179.3M | ||
| Q4 25 | $96.5M | $883.7M | ||
| Q3 25 | $88.5M | $671.3M | ||
| Q2 25 | $79.3M | $770.9M | ||
| Q1 25 | $50.9M | $567.6M | ||
| Q4 24 | $93.5M | $529.0M | ||
| Q3 24 | $159.6M | $844.8M | ||
| Q2 24 | $63.5M | $582.5M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | $453.5M | ||
| Q4 25 | $462.6M | $598.7M | ||
| Q3 25 | $450.5M | $604.8M | ||
| Q2 25 | $473.6M | $341.5M | ||
| Q1 25 | $518.4M | $367.7M | ||
| Q4 24 | $576.6M | $455.7M | ||
| Q3 24 | $663.8M | $428.6M | ||
| Q2 24 | $786.7M | $458.6M |
| Q1 26 | — | $1.6B | ||
| Q4 25 | $2.5B | $1.8B | ||
| Q3 25 | $2.6B | $1.7B | ||
| Q2 25 | $2.6B | $1.6B | ||
| Q1 25 | $2.6B | $1.6B | ||
| Q4 24 | $2.7B | $1.7B | ||
| Q3 24 | $2.8B | $1.5B | ||
| Q2 24 | $2.7B | $1.1B |
| 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 | — | $55.0M |
| Free Cash FlowOCF − Capex | — | $49.0M |
| FCF MarginFCF / Revenue | — | 28.3% |
| Capex IntensityCapex / Revenue | 13.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $118.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $55.0M | ||
| Q4 25 | $108.6M | $24.7M | ||
| Q3 25 | $100.8M | $33.4M | ||
| Q2 25 | $129.6M | $21.3M | ||
| Q1 25 | $61.1M | $68.0M | ||
| Q4 24 | $104.8M | $24.3M | ||
| Q3 24 | $118.6M | $22.5M | ||
| Q2 24 | $81.1M | $11.7M |
| Q1 26 | — | $49.0M | ||
| Q4 25 | $75.1M | $20.7M | ||
| Q3 25 | $79.2M | $30.4M | ||
| Q2 25 | $108.9M | $18.0M | ||
| Q1 25 | $36.5M | $65.7M | ||
| Q4 24 | $80.5M | $19.9M | ||
| Q3 24 | $100.0M | $21.3M | ||
| Q2 24 | $68.7M | $10.9M |
| Q1 26 | — | 28.3% | ||
| Q4 25 | 35.3% | 12.0% | ||
| Q3 25 | 34.9% | 18.8% | ||
| Q2 25 | 50.2% | 11.8% | ||
| Q1 25 | 17.0% | 48.1% | ||
| Q4 24 | 37.8% | 12.6% | ||
| Q3 24 | 47.0% | 14.4% | ||
| Q2 24 | 34.2% | 8.4% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 2.3% | ||
| Q3 25 | 9.5% | 1.8% | ||
| Q2 25 | 9.5% | 2.2% | ||
| Q1 25 | 11.4% | 1.7% | ||
| Q4 24 | 11.4% | 2.7% | ||
| Q3 24 | 8.7% | 0.8% | ||
| Q2 24 | 6.2% | 0.6% |
| 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% |
VRNS
| SaaS | $161.1M | 93% |
| Term license subscriptions | $6.9M | 4% |
| Maintenance and services | $5.2M | 3% |
