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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and VIRTUS INVESTMENT PARTNERS, INC. (VRTS). Click either name above to swap in a different company.
Iridium Communications Inc. is the larger business by last-quarter revenue ($219.1M vs $208.0M, roughly 1.1× VIRTUS INVESTMENT PARTNERS, INC.). VIRTUS INVESTMENT PARTNERS, INC. runs the higher net margin — 16.3% vs 9.9%, a 6.4% gap on every dollar of revenue. On growth, Iridium Communications Inc. posted the faster year-over-year revenue change (1.9% vs -10.9%). Over the past eight quarters, Iridium Communications Inc.'s revenue compounded faster (4.4% CAGR vs -3.2%).
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...
VIRTUS INVESTMENT PARTNERS, INC.VRTSEarnings & Financial Report
Virtus Investment Partners, Inc. is an American company which operates as a multi-manager asset management business, comprising a number of individual affiliated managers, each having its own investment process and brand, and the services of unaffiliated sub advisers.
IRDM vs VRTS — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $208.0M |
| Net Profit | $21.6M | $33.9M |
| Gross Margin | — | — |
| Operating Margin | 23.2% | 19.1% |
| Net Margin | 9.9% | 16.3% |
| Revenue YoY | 1.9% | -10.9% |
| Net Profit YoY | — | -14.2% |
| EPS (diluted) | — | $5.15 |
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 | $208.0M | ||
| Q3 25 | $226.9M | $216.4M | ||
| Q2 25 | $216.9M | $210.5M | ||
| Q1 25 | $214.9M | $217.9M | ||
| Q4 24 | $213.0M | $233.5M | ||
| Q3 24 | $212.8M | $227.0M | ||
| Q2 24 | $201.1M | $224.4M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $33.9M | ||
| Q3 25 | $37.1M | $31.3M | ||
| Q2 25 | $22.0M | $42.7M | ||
| Q1 25 | $30.4M | $28.1M | ||
| Q4 24 | $36.3M | $39.5M | ||
| Q3 24 | $24.4M | $49.1M | ||
| Q2 24 | $32.3M | $26.0M |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | 19.1% | ||
| Q3 25 | 30.9% | 21.7% | ||
| Q2 25 | 23.2% | 21.5% | ||
| Q1 25 | 28.1% | 16.8% | ||
| Q4 24 | 24.5% | 21.7% | ||
| Q3 24 | 25.8% | 24.3% | ||
| Q2 24 | 21.7% | 19.7% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | 16.3% | ||
| Q3 25 | 16.4% | 14.5% | ||
| Q2 25 | 10.1% | 20.3% | ||
| Q1 25 | 14.2% | 12.9% | ||
| Q4 24 | 17.1% | 16.9% | ||
| Q3 24 | 11.5% | 21.6% | ||
| Q2 24 | 16.1% | 11.6% |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $5.15 | ||
| Q3 25 | $0.35 | $4.65 | ||
| Q2 25 | $0.20 | $6.12 | ||
| Q1 25 | $0.27 | $4.05 | ||
| Q4 24 | $0.30 | $4.65 | ||
| Q3 24 | $0.21 | $5.71 | ||
| Q2 24 | $0.27 | $2.43 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | — |
| Total DebtLower is stronger | — | $390.0M |
| Stockholders' EquityBook value | — | $934.0M |
| Total Assets | — | $4.3B |
| Debt / EquityLower = less leverage | — | 0.42× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | — | ||
| Q3 25 | $88.5M | — | ||
| Q2 25 | $79.3M | — | ||
| Q1 25 | $50.9M | — | ||
| Q4 24 | $93.5M | — | ||
| Q3 24 | $159.6M | — | ||
| Q2 24 | $63.5M | — |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $390.0M | ||
| Q3 25 | — | $390.6M | ||
| Q2 25 | — | $231.3M | ||
| Q1 25 | — | $231.7M | ||
| Q4 24 | $1.8B | $232.1M | ||
| Q3 24 | — | $237.5M | ||
| Q2 24 | — | $247.6M |
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | $934.0M | ||
| Q3 25 | $450.5M | $918.7M | ||
| Q2 25 | $473.6M | $896.4M | ||
| Q1 25 | $518.4M | $893.7M | ||
| Q4 24 | $576.6M | $897.5M | ||
| Q3 24 | $663.8M | $889.0M | ||
| Q2 24 | $786.7M | $868.7M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $4.3B | ||
| Q3 25 | $2.6B | $3.9B | ||
| Q2 25 | $2.6B | $3.7B | ||
| Q1 25 | $2.6B | $3.7B | ||
| Q4 24 | $2.7B | $4.0B | ||
| Q3 24 | $2.8B | $3.6B | ||
| Q2 24 | $2.7B | $3.6B |
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | 0.42× | ||
| Q3 25 | — | 0.43× | ||
| Q2 25 | — | 0.26× | ||
| Q1 25 | — | 0.26× | ||
| Q4 24 | 3.05× | 0.26× | ||
| Q3 24 | — | 0.27× | ||
| Q2 24 | — | 0.29× |
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 | — | $-67.2M |
| Free Cash FlowOCF − Capex | — | $-74.1M |
| FCF MarginFCF / Revenue | — | -35.6% |
| Capex IntensityCapex / Revenue | 13.7% | 3.3% |
| Cash ConversionOCF / Net Profit | — | -1.99× |
| TTM Free Cash FlowTrailing 4 quarters | — | $100.2M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $-67.2M | ||
| Q3 25 | $100.8M | $108.3M | ||
| Q2 25 | $129.6M | $75.8M | ||
| Q1 25 | $61.1M | $-3.8M | ||
| Q4 24 | $104.8M | $1.8M | ||
| Q3 24 | $118.6M | $69.1M | ||
| Q2 24 | $81.1M | $70.0M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $-74.1M | ||
| Q3 25 | $79.2M | $106.9M | ||
| Q2 25 | $108.9M | $74.2M | ||
| Q1 25 | $36.5M | $-6.8M | ||
| Q4 24 | $80.5M | $-3.8M | ||
| Q3 24 | $100.0M | $68.7M | ||
| Q2 24 | $68.7M | $68.6M |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | -35.6% | ||
| Q3 25 | 34.9% | 49.4% | ||
| Q2 25 | 50.2% | 35.2% | ||
| Q1 25 | 17.0% | -3.1% | ||
| Q4 24 | 37.8% | -1.6% | ||
| Q3 24 | 47.0% | 30.3% | ||
| Q2 24 | 34.2% | 30.6% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 3.3% | ||
| Q3 25 | 9.5% | 0.7% | ||
| Q2 25 | 9.5% | 0.7% | ||
| Q1 25 | 11.4% | 1.4% | ||
| Q4 24 | 11.4% | 2.4% | ||
| Q3 24 | 8.7% | 0.2% | ||
| Q2 24 | 6.2% | 0.6% |
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | -1.99× | ||
| Q3 25 | 2.71× | 3.45× | ||
| Q2 25 | 5.90× | 1.77× | ||
| Q1 25 | 2.01× | -0.13× | ||
| Q4 24 | 2.88× | 0.04× | ||
| Q3 24 | 4.85× | 1.41× | ||
| Q2 24 | 2.51× | 2.69× |
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% |
VRTS
| Open End Funds | $68.9M | 33% |
| Retail Separate Accounts | $51.3M | 25% |
| Institutional Accounts | $39.6M | 19% |
| Administration And Shareholder Service Fees | $18.4M | 9% |
| Closed End Funds | $15.9M | 8% |
| Distribution And Service Fees | $12.3M | 6% |
