Company: IRDM
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001628280-25-005302
Chunk: 102

Company: Iridium Communications Inc.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 102
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158,710 20 %19,430 12 %Cost of subscriber equipment52,427 6 %66,410 8 %(13,983)(21)%Research and development28,422 3 %20,269 3 %8,153 40 %Selling, general and administrative168,182 20 %143,706 18 %24,476 17 %Depreciation and amortization203,127 25 %320,000 41 %(116,873)(37)%Total operating expenses630,298 76 %709,095 90 %(78,797)(11)%Operating income200,384 24 %81,628 10 %118,756 145 %Other expense:      Interest expense, net(91,134)(11)%(90,387)(11)%(747)1 %Other income, net534 0 %4,012 1 %(3,478)(87)%Total other expense(90,600)(11)%(86,375)(10)%(4,225)5 %Income (loss) before income taxes and equity in net earnings of affiliates109,784 13 %(4,747)0 %114,531 2,413 %Income tax (expense) benefit(12,259)(1)%26,251 3 %(38,510)(147)%Gain (loss) on equity method investments15,251 2 %(6,089)(1)%21,340 350 %Net income $112,776 14 %$15,415 2 %$97,361 632 %

49

Commercial Service Revenue

Year Ended December 31,20242023ChangeRevenueBillableSubscribers (1)ARPU (2)RevenueBillableSubscribers (1)ARPU (2)RevenueBillableSubscribersARPU(Revenue in millions and subscribers in thousands)Commercial services:Voice and data$226.1 415 $46 $219.2 408 $45 $6.9 7 $1 IoT data166.2 1,887 $7.70 141.0 1,709 $7.45 25.2 178 $0.25 Broadband (3)56.1 16.6 $282 57.9 16