Company: IRDM
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001628280-25-018712
Chunk: 0

Company: Iridium Communications Inc.
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 8
Chunk 0
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PART I.

Iridium Communications Inc.

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

 March 31,2025December 31, 2024(Unaudited) Assets  Current assets:Cash and cash equivalents$50,899 $93,526 Accounts receivable, net105,445 98,803 Inventory80,685 81,283 Prepaid expenses and other current assets19,725 19,118 Total current assets256,754 292,730 Property and equipment, net2,050,815 2,080,544 Equity method investments41,901 42,516 Other assets72,040 66,618 Intangible assets, net89,889 90,877 Goodwill98,942 98,186 Total assets$2,610,341 $2,671,471 Liabilities and stockholders’ equity  Current liabilities:  Short-term secured debt$28,553 $33,118 Accounts payable11,421 19,715 Accrued expenses and other current liabilities43,917 64,811 Deferred revenue45,424 51,570 Total current liabilities129,315 169,214 Long-term secured debt, net1,778,414 1,757,767 Deferred income tax liabilities, net116,859 114,140 Deferred revenue, net of current portion36,815 38,259 Other long-term liabilities30,493 15,454 Total liabilities2,091,896 2,094,834 Commitments and contingenciesStockholders’ equity:  Common stock, $0.001 par value, 300,000 shares authorized, 108,733 and 110,357 shares issued and outstanding at March 31, 2025 and December 31, 2024, respectively109 110 Additional paid-in capital930,311 964,348 Accumulated deficit(425,224)(406,092)Accumulated other comprehensive income, net of tax13,249 18,271 Total stockholders’ equity518,445 576,637 Total liabilities and stockholders’ equity$2,610,341 $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,