Company: IRDM
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001628280-25-035835
Chunk: 1

Company: Iridium Communications Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
Chunk 1
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 share amounts)

(Unaudited)

Three Months EndedJune 30,Six Months EndedJune 30, 2025202420252024Revenue:Services$155,570 $152,467 $309,862 $301,044 Subscriber equipment19,455 22,782 42,576 47,650 Engineering and support services41,881 25,818 79,346 56,226 Total revenue216,906 201,067 431,784 404,920 Operating expenses:  Cost of services (exclusive of depreciation and amortization)53,603 39,464 102,389 85,913 Cost of subscriber equipment11,302 13,946 24,169 27,826 Research and development4,279 6,512 9,696 13,710 Selling, general and administrative44,627 46,723 80,380 83,534 Depreciation and amortization52,837 50,776 104,504 100,520 Total operating expenses166,648 157,421 321,138 311,503 Operating income50,258 43,646 110,646 93,417 Other expense, net:  Interest expense, net(22,752)(23,797)(44,576)(44,460)Other expense, net(871)(646)(2,556)(603)Total other expense, net(23,623)(24,443)(47,132)(45,063)Income before income taxes and gain (loss) on equity method investments26,635 19,203 63,514 48,354 Income tax expense(3,807)(4,565)(9,626)(12,496)Gain (loss) on equity method investments(860)17,698 (1,508)16,131 Net income$21,968 $32,336 $52,380 $51,989 Weighted average shares outstanding - basic107,813 120,612 108,779 121,877 Weighted average shares outstanding - diluted108,184 121,242 109,498 122,703 Net income per share - basic$0.20 $0.27 $0.48 $0.43 Net income per share - diluted$0.20 $0.27 $0.48