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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and Bristow Group Inc. (VTOL). Click either name above to swap in a different company.
Bristow Group Inc. is the larger business by last-quarter revenue ($377.3M vs $219.1M, roughly 1.7× Iridium Communications Inc.). Iridium Communications Inc. runs the higher net margin — 9.9% vs 4.9%, a 5.0% gap on every dollar of revenue. On growth, Bristow Group Inc. posted the faster year-over-year revenue change (6.7% vs 1.9%). Over the past eight quarters, Bristow Group Inc.'s revenue compounded faster (5.8% 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...
Bristow Helicopters Limited is a British civil helicopter operator originally based at Aberdeen Airport, Scotland, which is currently a part of the U.S.-based Bristow Group which in turn has its corporate headquarters in Houston, Texas, U.S. In 2020, Bristow Group was merged with Era Helicopters, a large U.S.-based commercial helicopter operator that was previously a division of Era Aviation, with the two companies then continuing to use the Bristow name.
IRDM vs VTOL — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $377.3M |
| Net Profit | $21.6M | $18.4M |
| Gross Margin | — | — |
| Operating Margin | 23.2% | 8.5% |
| Net Margin | 9.9% | 4.9% |
| Revenue YoY | 1.9% | 6.7% |
| Net Profit YoY | — | -42.1% |
| EPS (diluted) | — | $0.61 |
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 | $377.3M | ||
| Q3 25 | $226.9M | $386.3M | ||
| Q2 25 | $216.9M | $376.4M | ||
| Q1 25 | $214.9M | $350.5M | ||
| Q4 24 | $213.0M | $353.5M | ||
| Q3 24 | $212.8M | $365.1M | ||
| Q2 24 | $201.1M | $359.7M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $18.4M | ||
| Q3 25 | $37.1M | $51.5M | ||
| Q2 25 | $22.0M | $31.7M | ||
| Q1 25 | $30.4M | $27.4M | ||
| Q4 24 | $36.3M | $31.8M | ||
| Q3 24 | $24.4M | $28.2M | ||
| Q2 24 | $32.3M | $28.2M |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | 8.5% | ||
| Q3 25 | 30.9% | 13.1% | ||
| Q2 25 | 23.2% | 11.3% | ||
| Q1 25 | 28.1% | 9.6% | ||
| Q4 24 | 24.5% | 9.0% | ||
| Q3 24 | 25.8% | 9.1% | ||
| Q2 24 | 21.7% | 12.4% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | 4.9% | ||
| Q3 25 | 16.4% | 13.3% | ||
| Q2 25 | 10.1% | 8.4% | ||
| Q1 25 | 14.2% | 7.8% | ||
| Q4 24 | 17.1% | 9.0% | ||
| Q3 24 | 11.5% | 7.7% | ||
| Q2 24 | 16.1% | 7.8% |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | $0.61 | ||
| Q3 25 | $0.35 | $1.72 | ||
| Q2 25 | $0.20 | $1.07 | ||
| Q1 25 | $0.27 | $0.92 | ||
| Q4 24 | $0.30 | $1.07 | ||
| Q3 24 | $0.21 | $0.95 | ||
| Q2 24 | $0.27 | $0.96 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $286.2M |
| Total DebtLower is stronger | — | $671.5M |
| Stockholders' EquityBook value | — | $1.1B |
| Total Assets | — | $2.3B |
| Debt / EquityLower = less leverage | — | 0.63× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $286.2M | ||
| Q3 25 | $88.5M | $245.5M | ||
| Q2 25 | $79.3M | $251.8M | ||
| Q1 25 | $50.9M | $191.1M | ||
| Q4 24 | $93.5M | $247.5M | ||
| Q3 24 | $159.6M | $200.3M | ||
| Q2 24 | $63.5M | $178.6M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $671.5M | ||
| Q3 25 | — | $675.0M | ||
| Q2 25 | — | $705.2M | ||
| Q1 25 | — | $701.9M | ||
| Q4 24 | $1.8B | $689.8M | ||
| Q3 24 | — | $629.1M | ||
| Q2 24 | — | $594.2M |
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | $1.1B | ||
| Q3 25 | $450.5M | $1.0B | ||
| Q2 25 | $473.6M | $984.4M | ||
| Q1 25 | $518.4M | $931.7M | ||
| Q4 24 | $576.6M | $891.7M | ||
| Q3 24 | $663.8M | $899.2M | ||
| Q2 24 | $786.7M | $849.1M |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $2.3B | ||
| Q3 25 | $2.6B | $2.3B | ||
| Q2 25 | $2.6B | $2.3B | ||
| Q1 25 | $2.6B | $2.2B | ||
| Q4 24 | $2.7B | $2.1B | ||
| Q3 24 | $2.8B | $2.1B | ||
| Q2 24 | $2.7B | $2.0B |
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | 0.63× | ||
| Q3 25 | — | 0.65× | ||
| Q2 25 | — | 0.72× | ||
| Q1 25 | — | 0.75× | ||
| Q4 24 | 3.05× | 0.77× | ||
| Q3 24 | — | 0.70× | ||
| Q2 24 | — | 0.70× |
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 | — | $76.9M |
| Free Cash FlowOCF − Capex | — | $47.8M |
| FCF MarginFCF / Revenue | — | 12.7% |
| Capex IntensityCapex / Revenue | 13.7% | 7.7% |
| Cash ConversionOCF / Net Profit | — | 4.17× |
| TTM Free Cash FlowTrailing 4 quarters | — | $56.4M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $76.9M | ||
| Q3 25 | $100.8M | $23.1M | ||
| Q2 25 | $129.6M | $99.0M | ||
| Q1 25 | $61.1M | $-603.0K | ||
| Q4 24 | $104.8M | $51.1M | ||
| Q3 24 | $118.6M | $66.0M | ||
| Q2 24 | $81.1M | $33.7M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $47.8M | ||
| Q3 25 | $79.2M | $-6.2M | ||
| Q2 25 | $108.9M | $67.4M | ||
| Q1 25 | $36.5M | $-52.7M | ||
| Q4 24 | $80.5M | $-32.4M | ||
| Q3 24 | $100.0M | $9.0M | ||
| Q2 24 | $68.7M | $-16.7M |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | 12.7% | ||
| Q3 25 | 34.9% | -1.6% | ||
| Q2 25 | 50.2% | 17.9% | ||
| Q1 25 | 17.0% | -15.0% | ||
| Q4 24 | 37.8% | -9.2% | ||
| Q3 24 | 47.0% | 2.5% | ||
| Q2 24 | 34.2% | -4.6% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 7.7% | ||
| Q3 25 | 9.5% | 7.6% | ||
| Q2 25 | 9.5% | 8.4% | ||
| Q1 25 | 11.4% | 14.9% | ||
| Q4 24 | 11.4% | 23.6% | ||
| Q3 24 | 8.7% | 15.6% | ||
| Q2 24 | 6.2% | 14.0% |
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | 4.17× | ||
| Q3 25 | 2.71× | 0.45× | ||
| Q2 25 | 5.90× | 3.12× | ||
| Q1 25 | 2.01× | -0.02× | ||
| Q4 24 | 2.88× | 1.61× | ||
| Q3 24 | 4.85× | 2.34× | ||
| Q2 24 | 2.51× | 1.20× |
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% |
VTOL
| Offshore Energy Services | $247.5M | 66% |
| Government Services | $100.1M | 27% |
| Other | $21.9M | 6% |
| Related Party | $7.8M | 2% |
