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

Company: Iridium Communications Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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 (21,336)52,690 Total intangible assets $109,251 $(21,336)$87,915 

9

 December 31, 2024UsefulLifeGrossCarrying ValueAccumulatedAmortizationNetCarrying Value (In thousands)Indefinite life intangible assets: Trade namesIndefinite$21,195 $— $21,195 Spectrum and licensesIndefinite14,030 — 14,030 Total 35,225 — 35,225 Definite life intangible assets: Intellectual property20 years16,439 (11,420)5,019 Patents14 - 20 years587 (209)378 Customer relationships12 years57,000 (6,745)50,255 Total 74,026 (18,374)55,652 Total intangible assets $109,251 $(18,374)$90,877 Amortization expense was $1.0 million and $2.4 million for the three months ended September 30, 2025 and September 30, 2024, respectively, and $3.0 million and $4.9 million for the nine months ended September 30, 2025 and September 30, 2024, respectively.Goodwill

As of September 30, 2025 and December 31, 2024, the Company’s goodwill balance was $98.9 million and $98.2 million, respectively. The goodwill balance was a result of the acquisition of Satelles, Inc. 

5. DebtTerm Loan and Revolving FacilityPursuant to a credit agreement (as amended to date, the “Credit Agreement”), the Company previously entered into a term loan totaling $1,500.0 million (as so amended and restated, the “Term Loan”), issued at a price equal to 99.75% of its face value, and an accompanying $100.0 million revolving loan (the “Revolving Facility”). The maturity dates of the Term Loan and Revolving Facility are in September 2030 and September 2028, respectively. During the year ended December 31, 2024, the Company borrowed an additional $325.0 million under its Term Loan, comprised of $125.0 million on March 25, 2024, issued at a price