Company: IRDM
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001418819-25-000009
Chunk: 1

Company: Iridium Communications Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 1
Chunk 1
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 share amounts)

(Unaudited)

Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Revenue:Services$165,243 $159,855 $475,105 $460,899 Subscriber equipment21,507 22,169 64,083 69,819 Engineering and support services40,185 30,747 119,531 86,973 Total revenue226,935 212,771 658,719 617,691 Operating expenses:  Cost of services (exclusive of depreciation and amortization)50,762 43,848 153,152 129,761 Cost of subscriber equipment12,661 12,769 36,830 40,595 Research and development4,944 6,189 14,640 19,899 Selling, general and administrative35,508 43,953 115,887 127,487 Depreciation and amortization52,975 51,160 157,479 151,680 Total operating expenses156,850 157,919 477,988 469,422 Operating income70,085 54,852 180,731 148,269 Other expense, net:  Interest expense, net(22,593)(24,246)(67,169)(68,706)Other income (expense), net372 312 (2,184)(291)Total other expense, net(22,221)(23,934)(69,353)(68,997)Income before income taxes and gain (loss) on equity method investments47,864 30,918 111,378 79,272 Income tax expense(10,003)(6,005)(19,629)(18,501)Gain (loss) on equity method investments(734)(467)(2,242)15,664 Net income$37,127 $24,446 $89,507 $76,435 Weighted average shares outstanding - basic106,095 117,449 108,160 120,390 Weighted average shares outstanding - diluted106,476 118,111 108,846 121,261 Net income per share - basic$0.35 $0.21 $0.83 $0.63 Net income per share - diluted$0.35 $0.21 $0.82 $