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

Iridium Communications brought in $871.7M of revenue in fiscal 2025, Viasat $4.6B in fiscal 2026. Revenue changed by +4.9% at Iridium Communications and +2.7% at Viasat on the year before, so Iridium Communications grew faster. Iridium Communications kept 13.1% of its revenue as net profit, Viasat -0.7%.

Side by side, latest fiscal year

IRDMVSAT
Fiscal year endedFY2025 (December 31, 2025)FY2026 (March 31, 2026)
Revenue$871.7M$4.6B
Revenue growth+4.9%+2.7%
Net income$114.4M-$34.1M
Net margin13.1%-0.7%
Free cash flow$299.8Mn/a
Free cash flow margin34.4%n/a
Earnings per share (diluted)$1.06-$0.25
Cash$96.5M$1.7B
Debt$1.8B$57.8M
Price to earnings46.0n/a
Market value$5.2B$10.1B
Dividend yieldn/an/a
Rank by revenue in sector#485 of 778 · Consumer discretionary#215 of 778 · Consumer discretionary

Over the years

Revenue
IRDM FY2018: $523MIRDM FY2019: $560.4MIRDM FY2020: $583.4MIRDM FY2021: $614.5MIRDM FY2022: $721MIRDM FY2023: $790.7MIRDM FY2024: $830.7MIRDM FY2025: $871.7MVSAT FY2019: $2.1BVSAT FY2020: $2.3BVSAT FY2021: $1.9BVSAT FY2022: $2.4BVSAT FY2023: $2.6BVSAT FY2024: $4.3BVSAT FY2025: $4.5BVSAT FY2026: $4.6BFY18FY19FY20FY21FY22FY23FY24FY25FY26
IRDM $871.7MVSAT $4.6B
Net income
IRDM FY2018: -$13.4MIRDM FY2019: -$162MIRDM FY2020: -$56.1MIRDM FY2021: -$9.3MIRDM FY2022: $8.7MIRDM FY2023: $15.4MIRDM FY2024: $112.8MIRDM FY2025: $114.4MVSAT FY2019: -$67.6MVSAT FY2020: -$212KVSAT FY2021: $3.7MVSAT FY2022: -$15.5MVSAT FY2023: $1.1BVSAT FY2024: -$1.1BVSAT FY2025: -$575MVSAT FY2026: -$34.1MFY18FY19FY20FY21FY22FY23FY24FY25FY26
IRDM $114.4MVSAT -$34.1M
Net margin
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%VSAT FY2019: -3.3%VSAT FY2020: -0.0%VSAT FY2021: 0.2%VSAT FY2022: -0.6%VSAT FY2023: 42.4%VSAT FY2024: -25.0%VSAT FY2025: -12.7%VSAT FY2026: -0.7%FY18FY19FY20FY21FY22FY23FY24FY25FY26
IRDM 13.1%VSAT -0.7%
Revenue growth
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%VSAT FY2020: +11.7%VSAT FY2021: -16.8%VSAT FY2022: +25.8%VSAT FY2023: +5.7%VSAT FY2024: +67.6%VSAT FY2025: +5.5%VSAT FY2026: +2.7%FY19FY20FY21FY22FY23FY24FY25FY26
IRDM +4.9%VSAT +2.7%
Free cash flow
IRDM FY2018: -$127.7MIRDM FY2019: $80.3MIRDM FY2020: $211.1MIRDM FY2021: $260.7MIRDM FY2022: $273.5MIRDM FY2023: $241.4MIRDM FY2024: $306.1MIRDM FY2025: $299.8MVSAT FY2019: -$309.3MVSAT FY2020: -$257MVSAT FY2021: -$100MVSAT FY2022: -$432.6MVSAT FY2023: -$709.1MFY18FY19FY20FY21FY22FY23FY24FY25
IRDM $299.8MVSAT -$709.1M

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

Questions about Iridium Communications and Viasat

Which is bigger by revenue, Iridium Communications or Viasat?

Viasat is bigger by revenue: $4.6B in fiscal 2026, against $871.7M for Iridium Communications in fiscal 2025.

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

Iridium Communications had a net margin of 13.1% in fiscal 2025; Viasat had -0.7% in fiscal 2026.

Which grew revenue faster, Iridium Communications or Viasat?

In their latest fiscal years revenue changed by +4.9% at Iridium Communications and +2.7% at Viasat.

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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