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Side-by-side financial comparison of Iridium Communications Inc. (IRDM) and XPLR Infrastructure, LP (XIFR). Click either name above to swap in a different company.
XPLR Infrastructure, LP is the larger business by last-quarter revenue ($249.0M vs $219.1M, roughly 1.1× Iridium Communications Inc.). XPLR Infrastructure, LP runs the higher net margin — 11.2% vs 9.9%, a 1.4% gap on every dollar of revenue. On growth, Iridium Communications Inc. posted the faster year-over-year revenue change (1.9% vs -15.3%). Over the past eight quarters, Iridium Communications Inc.'s revenue compounded faster (4.4% CAGR vs -1.6%).
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...
XPLR Infrastructure is a publicly traded subsidiary of NextEra Energy, is a Juno Beach, Florida-based renewable energy company.
IRDM vs XIFR — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $219.1M | $249.0M |
| Net Profit | $21.6M | $28.0M |
| Gross Margin | — | — |
| Operating Margin | 23.2% | -19.3% |
| Net Margin | 9.9% | 11.2% |
| Revenue YoY | 1.9% | -15.3% |
| Net Profit YoY | — | 124.3% |
| 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 | — | ||
| Q4 25 | $212.9M | $249.0M | ||
| Q3 25 | $226.9M | $315.0M | ||
| Q2 25 | $216.9M | $342.0M | ||
| Q1 25 | $214.9M | $282.0M | ||
| Q4 24 | $213.0M | $294.0M | ||
| Q3 24 | $212.8M | $319.0M | ||
| Q2 24 | $201.1M | $360.0M |
| Q1 26 | $21.6M | — | ||
| Q4 25 | $24.9M | $28.0M | ||
| Q3 25 | $37.1M | $-37.0M | ||
| Q2 25 | $22.0M | $79.0M | ||
| Q1 25 | $30.4M | $-98.0M | ||
| Q4 24 | $36.3M | $-115.0M | ||
| Q3 24 | $24.4M | $-40.0M | ||
| Q2 24 | $32.3M | $62.0M |
| Q1 26 | 23.2% | — | ||
| Q4 25 | 25.9% | -19.3% | ||
| Q3 25 | 30.9% | 1.6% | ||
| Q2 25 | 23.2% | 26.3% | ||
| Q1 25 | 28.1% | -82.6% | ||
| Q4 24 | 24.5% | -188.1% | ||
| Q3 24 | 25.8% | 15.4% | ||
| Q2 24 | 21.7% | 18.3% |
| Q1 26 | 9.9% | — | ||
| Q4 25 | 11.7% | 11.2% | ||
| Q3 25 | 16.4% | -11.7% | ||
| Q2 25 | 10.1% | 23.1% | ||
| Q1 25 | 14.2% | -34.8% | ||
| Q4 24 | 17.1% | -39.1% | ||
| Q3 24 | 11.5% | -12.5% | ||
| Q2 24 | 16.1% | 17.2% |
| Q1 26 | — | — | ||
| Q4 25 | $0.24 | — | ||
| Q3 25 | $0.35 | $-0.40 | ||
| Q2 25 | $0.20 | $0.84 | ||
| Q1 25 | $0.27 | $-1.05 | ||
| Q4 24 | $0.30 | — | ||
| Q3 24 | $0.21 | $-0.43 | ||
| Q2 24 | $0.27 | $0.66 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $960.0M |
| Total DebtLower is stronger | — | $6.2B |
| Stockholders' EquityBook value | — | $10.9B |
| Total Assets | — | $19.6B |
| Debt / EquityLower = less leverage | — | 0.57× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $96.5M | $960.0M | ||
| Q3 25 | $88.5M | $711.0M | ||
| Q2 25 | $79.3M | $880.0M | ||
| Q1 25 | $50.9M | $1.5B | ||
| Q4 24 | $93.5M | $283.0M | ||
| Q3 24 | $159.6M | $290.0M | ||
| Q2 24 | $63.5M | $281.0M |
| Q1 26 | — | — | ||
| Q4 25 | $1.8B | $6.2B | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $1.8B | $5.3B | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — |
| Q1 26 | — | — | ||
| Q4 25 | $462.6M | $10.9B | ||
| Q3 25 | $450.5M | $11.0B | ||
| Q2 25 | $473.6M | $11.3B | ||
| Q1 25 | $518.4M | $12.6B | ||
| Q4 24 | $576.6M | $12.9B | ||
| Q3 24 | $663.8M | $13.6B | ||
| Q2 24 | $786.7M | $13.9B |
| Q1 26 | — | — | ||
| Q4 25 | $2.5B | $19.6B | ||
| Q3 25 | $2.6B | $19.1B | ||
| Q2 25 | $2.6B | $20.5B | ||
| Q1 25 | $2.6B | $21.4B | ||
| Q4 24 | $2.7B | $20.3B | ||
| Q3 24 | $2.8B | $20.9B | ||
| Q2 24 | $2.7B | $21.7B |
| Q1 26 | — | — | ||
| Q4 25 | 3.80× | 0.57× | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 3.05× | 0.41× | ||
| 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 | — | $186.0M |
| Free Cash FlowOCF − Capex | — | $-88.0M |
| FCF MarginFCF / Revenue | — | -35.3% |
| Capex IntensityCapex / Revenue | 13.7% | 110.0% |
| Cash ConversionOCF / Net Profit | — | 6.64× |
| TTM Free Cash FlowTrailing 4 quarters | — | $-219.0M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $108.6M | $186.0M | ||
| Q3 25 | $100.8M | $231.0M | ||
| Q2 25 | $129.6M | $232.0M | ||
| Q1 25 | $61.1M | $90.0M | ||
| Q4 24 | $104.8M | $283.0M | ||
| Q3 24 | $118.6M | $208.0M | ||
| Q2 24 | $81.1M | $231.0M |
| Q1 26 | — | — | ||
| Q4 25 | $75.1M | $-88.0M | ||
| Q3 25 | $79.2M | $-283.0M | ||
| Q2 25 | $108.9M | $151.0M | ||
| Q1 25 | $36.5M | $1.0M | ||
| Q4 24 | $80.5M | $231.0M | ||
| Q3 24 | $100.0M | $152.0M | ||
| Q2 24 | $68.7M | $162.0M |
| Q1 26 | — | — | ||
| Q4 25 | 35.3% | -35.3% | ||
| Q3 25 | 34.9% | -89.8% | ||
| Q2 25 | 50.2% | 44.2% | ||
| Q1 25 | 17.0% | 0.4% | ||
| Q4 24 | 37.8% | 78.6% | ||
| Q3 24 | 47.0% | 47.6% | ||
| Q2 24 | 34.2% | 45.0% |
| Q1 26 | 13.7% | — | ||
| Q4 25 | 15.7% | 110.0% | ||
| Q3 25 | 9.5% | 163.2% | ||
| Q2 25 | 9.5% | 23.7% | ||
| Q1 25 | 11.4% | 31.6% | ||
| Q4 24 | 11.4% | 17.7% | ||
| Q3 24 | 8.7% | 17.6% | ||
| Q2 24 | 6.2% | 19.2% |
| Q1 26 | — | — | ||
| Q4 25 | 4.37× | 6.64× | ||
| Q3 25 | 2.71× | — | ||
| Q2 25 | 5.90× | 2.94× | ||
| Q1 25 | 2.01× | — | ||
| Q4 24 | 2.88× | — | ||
| Q3 24 | 4.85× | — | ||
| Q2 24 | 2.51× | 3.73× |
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% |
XIFR
| Renewable Energy Sales | $238.0M | 96% |
| Related Party | $8.0M | 3% |
