Company: IRDM
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001628280-25-018712
Chunk: 28

Company: Iridium Communications Inc.
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 8
Chunk 28
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 expense(5,819)(3)%(7,931)(3)%2,112 (27)%Loss on equity method investments(648)— %(1,567)(1)%919 (59)%Net income$30,412 14 %$19,653 10 %$10,759 55 %

21

Revenue

Commercial Service Revenue 

Three Months Ended March 31,20252024ChangeRevenueBillableSubscribers (1)ARPU (2)RevenueBillableSubscribers (1)ARPU (2)RevenueBillableSubscribersARPU(Revenue in millions and subscribers in thousands)Commercial services:Voice and data$55.9 409 $45 $55.0 405 $45 $0.9 4 $— IoT data 43.8 1,885 7.75 39.4 1,766 7.57 4.4 119 0.18 Broadband (3)12.9 16.3 261 13.7 16.6 274 (0.8)(0.3)(13)Hosted payload and other data14.9 N/A14.0 N/A0.9 N/ATotal commercial services$127.5 2,310 $122.1 2,188$5.4 122 

(1)Billable subscriber numbers shown are at the end of the respective period.

(2)Average monthly revenue per unit, or ARPU, is calculated by dividing revenue in the respective period by the average of the number of billable subscribers at the beginning of the period and the number of billable subscribers at the end of the period and then dividing the result by the number of months in the period. Billable subscriber and ARPU data is not applicable for hosted payload and other data service revenue items.

(3)Commercial broadband service consists of Iridium OpenPort® and Iridium Certus® broadband services.

For the three months ended March 31, 2025, total commercial services revenue increased $5.4 million, or 4%, from the prior year period primarily as a result of increases in IoT, voice and data service revenue and hosted payload and other data revenue. Commercial IoT revenue increased $4.4 million, or 11%, for the three months ended March 31, 2025, compared to the same period of the prior