Company: IRDM
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001418819-25-000009
Chunk: 5

Company: Iridium Communications Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 1
Chunk 5
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)Repurchases of common stock(186,505)(284,603)Payment of deferred financing fees— (345)Proceeds from exercise of stock options1,066 2,872 Tax payment upon settlement of stock awards(17,100)(5,130)Payment of common stock dividends(46,865)(49,103)Net cash used in financing activities(232,428)(26,155)Effect of exchange rate changes on cash and cash equivalents, and restricted cash2,748 (958)Net increase (decrease) in cash and cash equivalents, and restricted cash(4,993)87,718 Cash, cash equivalents, and restricted cash, beginning of period93,526 71,870 Cash, cash equivalents, and restricted cash, end of period$88,533 $159,588 Supplemental cash flow information:Interest paid, net of amounts capitalized$68,199 $73,354 Income taxes paid, net$5,479 $3,566 Supplemental disclosure of non-cash investing and financing activities:  Property and equipment received but not paid$9,118 $7,919 Dividends accrued on common stock$3,170 $2,175 Capitalized stock-based compensation$4,258 $3,536 

See notes to unaudited condensed consolidated financial statements.

6

Iridium Communications Inc.

Notes to Condensed Consolidated Financial Statements

1. Basis of Presentation and Principles of Consolidation

Iridium Communications Inc. (the “Company”) prepared its condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The Company’s operations are primarily conducted through, and its operating assets are owned by, its principal operating subsidiary, Iridium Satellite LLC, Iridium Satellite LLC’s immediate parent, Iridium Holdings LLC, and their respective subsidiaries. The accompanying condensed consolidated financial statements include the accounts of (i) the Company, (ii) its wholly owned subsidiaries, and (iii) all less than wholly owned subsidiaries that the Company controls. All material intercompany transactions and balances have been eliminated. In the opinion of management, the condensed consolidated financial statements reflect all normal recurring adjustments that the Company considers necessary for the fair presentation of its results of operations and cash flows for the interim periods covered, and of the financial position of the Company at the date of the interim condensed consolidated balance sheet. The operating results