Company: IRDM
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001628280-25-035835
Chunk: 0

Company: Iridium Communications Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
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PART I.

Iridium Communications Inc.

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

 June 30,2025December 31, 2024(Unaudited) Assets  Current assets:Cash and cash equivalents$79,309 $93,526 Accounts receivable, net81,045 98,803 Inventory77,409 81,283 Prepaid expenses and other current assets17,658 19,118 Total current assets255,421 292,730 Property and equipment, net2,019,427 2,080,544 Equity method investments41,112 42,516 Other assets64,307 66,618 Intangible assets, net88,902 90,877 Goodwill98,942 98,186 Total assets$2,568,111 $2,671,471 Liabilities and stockholders’ equity  Current liabilities:  Short-term secured debt$— $33,118 Accounts payable11,551 19,715 Accrued expenses and other current liabilities44,554 64,811 Deferred revenue45,710 51,570 Total current liabilities101,815 169,214 Long-term secured debt, net1,809,169 1,757,767 Deferred income tax liabilities, net117,952 114,140 Deferred revenue, net of current portion38,656 38,259 Other long-term liabilities26,904 15,454 Total liabilities2,094,496 2,094,834 Commitments and contingenciesStockholders’ equity:  Common stock, $0.001 par value, 300,000 shares authorized, 106,393 and 110,357 shares issued and outstanding at June 30, 2025 and December 31, 2024, respectively106 110 Additional paid-in capital910,880 964,348 Accumulated deficit(446,674)(406,092)Accumulated other comprehensive income, net of tax9,303 18,271 Total stockholders’ equity473,615 576,637 Total liabilities and stockholders’ equity$2,568,111 $2,671,471 

See notes to unaudited condensed consolidated financial statements.

3

Iridium Communications Inc.

Condensed Consolidated Statements of Operations and Comprehensive Income

(In thousands, except per