Source: https://www.youtube.com/watch?v=8j2_xZG_CTA

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The camera appears to be looking down towards the water. the objects are being manually tracked and seem like slow-moving targets with lots of parallax. I suspect it's either birds, balloons, or aliens.

Those are waves we are seeing in the background? If so, wouldnt they be too small for balloons?

Probably waves, but it's hard to see their scale. They are over the ocean. But good point, an object cannot be bigger than its outline projected onto something behind it, so if those are regular waves then that's some indication of size.

I've roughly stabilized it using Sitrec's Auto Tracking (with "Center on Bright"). There are a couple of spots it missed where it goes off screen or behind the timestamp. But enough to get a sense of the motion of the ocean.

I think the MQ-9 is banking right while flying roughly towards it.

SLR goes from ~17,300 to 11773m
GDR goes from 9.71NM to 5.36NM

The elevation angle is hard to read, but it looks like about -20° to -36° (i.e., looking down at a steeper angle).

I think there should be some kind of reconstruction possible from this.

This is 50 km from the Iranian coast, well in the range of typical shorebirds. It may also be migrating birds; the wing flap frequency suggests a larger species, like spoonbills which are spending winters there - like numerous other species.

I see birds and can't unsee them.

Since the system is not locked onto an aerial target, it shows the distance to the ground behind the middle of the screen.

We can convert these numbers to altitude using Pythagoras.
SLR is the hypotenuse, the slant range
GDR is the base of the triangle, the ground range.
ALT would be altitude

SLR^2 = GDR^2 + ALT^2

ALT = SQRT(SLR^2 - GDR^2)
Converting meters and NM to feet:
ALT = sqrt( (15095* 3.28084)^2 - (7.40*6076.12)^2)
ALT = 20759 feet (roughly)

So, probably 20,000 or 21,000 feet pressure altitude.

This seems consistent through the video, the above is in the middle. The start is:

sqrt( (17346* 3.28084)^2 - (8.72*6076.12)^2)
= 20770 ft

End is

sqrt( (11771* 3.28084)^2 - (5.36*6076.12)^2)
= 20754 ft

Is that the altitude of the drone or the targets?

The coordinates and the elevation appears to be tied to the point behind the crosshair, right?

The drone (i.e. the camera platform drone). It is not locked onto the target, so it knows nothing about it. Purely visual.

Correct, although that's not that relevant in calculating the altitude above the ocean. Any point would do.

It does get a lock at this point, but it's on what seems to be a wave (the objects continue off screen). The SLR and GDR don't change when it happens.

The 14M is, I think, the size of the rectangle indicated by the corners. Which makes the "orbs" at least a bit smaller than 1M.

Having an interest in ecology and biodiversity I just learned that the region in question is a major migration route for birds.

Source: https://www.arabnews.com/node/1495416/middle-east

There are some physically big species like crane, stork and flamingoes. The search assist in DuckDuckGo returned this information of migration species in Iran during August;

Beyong the technical analysis, I'd like to state the obvious.

The video shows 3 objects that are warmer than the sea or cloud surface behind them.

The objects are each only a very small number of pixels with no resolved shape, so it's impossible to tell if they're "orbs". The objects might as well be cubes, or birds, or aircraft.

3 objects always form a triangle, unless they're on a straight line (and a mathematician would still call it a triangle), so the word "triangle" adds nothing to the description. Especially as there are no sides to this triangle.

"Formation" indicates that the 3 objects are moving approximately together. However, they move around amongst themselves, the "triangle" is not stable. This disproves that we're looking at a single triangular object.
However, a formation of aircraft would not engage in this "moving around" either, it creates more work and danger for the pilots.
Birds do that. The motion is exactly how I'd expect a group of birds to fly.

The rest of it is sensationalist language. Here's my edit:

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Obviously birds do have "traditional populsion", there simply aren't enough pixels to see it. Also, Mick's stabilized footage reveals no "abrupt directional changes", the motion is rather fluid and organic.

This would be funny if it wasn't the sorry state of UFOlogy these days, i.e. a lot of what gets passed around as UFO UAP footage is no more than a few indefinite pixels too small to be identifiable, talked up to be "intelligent" or "a threat". It does suggest that anything big enough to identify does get identified, and there are no visiting aliens NIHs.