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Globalstar vs Iridium Communications: revenue, profit, margins and growth compared

Globalstar brought in $273M of revenue in fiscal 2025, Iridium Communications $871.7M in fiscal 2025. Revenue changed by +9.0% at Globalstar and +4.9% at Iridium Communications on the year before, so Globalstar grew faster. Globalstar kept -3.2% of its revenue as net profit, Iridium Communications 13.1%.

Side by side, latest fiscal year

GSATIRDM
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$273M$871.7M
Revenue growth+9.0%+4.9%
Net income-$8.7M$114.4M
Net margin-3.2%13.1%
Free cash flown/a$299.8M
Free cash flow marginn/a34.4%
Earnings per share (diluted)-$0.15$1.06
Cash$447.5M$96.5M
Debt$483.8M$1.8B
Price to earningsn/a46.0
Market value$10.7B$5.2B
Dividend yieldn/an/a
Rank by revenue in sector#628 of 778 · Consumer discretionary#485 of 778 · Consumer discretionary

Over the years

Revenue
GSAT FY2018: $130.1MGSAT FY2019: $131.7MGSAT FY2020: $128.5MGSAT FY2021: $124.3MGSAT FY2022: $148.5MGSAT FY2023: $223.8MGSAT FY2024: $250.3MGSAT FY2025: $273MIRDM FY2018: $523MIRDM FY2019: $560.4MIRDM FY2020: $583.4MIRDM FY2021: $614.5MIRDM FY2022: $721MIRDM FY2023: $790.7MIRDM FY2024: $830.7MIRDM FY2025: $871.7MFY18FY19FY20FY21FY22FY23FY24FY25
GSAT $273MIRDM $871.7M
Net income
GSAT FY2018: -$6.5MGSAT FY2019: $15.3MGSAT FY2020: -$109.6MGSAT FY2021: -$112.6MGSAT FY2022: -$256.9MGSAT FY2023: -$24.7MGSAT FY2024: -$63.2MGSAT FY2025: -$8.7MIRDM FY2018: -$13.4MIRDM FY2019: -$162MIRDM FY2020: -$56.1MIRDM FY2021: -$9.3MIRDM FY2022: $8.7MIRDM FY2023: $15.4MIRDM FY2024: $112.8MIRDM FY2025: $114.4MFY18FY19FY20FY21FY22FY23FY24FY25
GSAT -$8.7MIRDM $114.4M
Net margin
GSAT FY2018: -5.0%GSAT FY2019: 11.6%GSAT FY2020: -85.3%GSAT FY2021: -90.6%GSAT FY2022: -173.0%GSAT FY2023: -11.0%GSAT FY2024: -25.2%GSAT FY2025: -3.2%IRDM FY2018: -2.6%IRDM FY2019: -28.9%IRDM FY2020: -9.6%IRDM FY2021: -1.5%IRDM FY2022: 1.2%IRDM FY2023: 1.9%IRDM FY2024: 13.6%IRDM FY2025: 13.1%FY18FY19FY20FY21FY22FY23FY24FY25
GSAT -3.2%IRDM 13.1%
Revenue growth
GSAT FY2019: +1.2%GSAT FY2020: -2.5%GSAT FY2021: -3.3%GSAT FY2022: +19.5%GSAT FY2023: +50.7%GSAT FY2024: +11.9%GSAT FY2025: +9.0%IRDM FY2019: +7.2%IRDM FY2020: +4.1%IRDM FY2021: +5.3%IRDM FY2022: +17.3%IRDM FY2023: +9.7%IRDM FY2024: +5.1%IRDM FY2025: +4.9%FY19FY20FY21FY22FY23FY24FY25
GSAT +9.0%IRDM +4.9%
Free cash flow
GSAT FY2018: -$1.4MGSAT FY2019: -$1.5MIRDM FY2018: -$127.7MIRDM FY2019: $80.3MIRDM FY2020: $211.1MIRDM FY2021: $260.7MIRDM FY2022: $273.5MIRDM FY2023: $241.4MIRDM FY2024: $306.1MIRDM FY2025: $299.8MFY18FY19FY20FY21FY22FY23FY24FY25
GSAT -$1.5MIRDM $299.8M

Fiscal years as each company reports them; the two may end in different months.

Questions about Globalstar and Iridium Communications

Which is bigger by revenue, Globalstar or Iridium Communications?

Iridium Communications is bigger by revenue: $871.7M in fiscal 2025, against $273M for Globalstar in fiscal 2025.

Which keeps more of its revenue as profit, Globalstar or Iridium Communications?

Globalstar had a net margin of -3.2% in fiscal 2025; Iridium Communications had 13.1% in fiscal 2025.

Which grew revenue faster, Globalstar or Iridium Communications?

In their latest fiscal years revenue changed by +9.0% at Globalstar and +4.9% at Iridium Communications.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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