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

Company: Iridium Communications Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
Chunk 10
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677 Total intangible assets $109,251 $(20,349)$88,902 

9

 December 31, 2024UsefulLifeGrossCarrying ValueAccumulatedAmortizationNetCarrying Value (In thousands)Indefinite life intangible assets: Trade namesIndefinite$21,195 $— $21,195 Spectrum and licensesIndefinite14,030 — 14,030 Total 35,225 — 35,225 Definite life intangible assets: Intellectual property20 years16,439 (11,420)5,019 Patents14 - 20 years587 (209)378 Customer relationships12 years57,000 (6,745)50,255 Total 74,026 (18,374)55,652 Total intangible assets $109,251 $(18,374)$90,877 Amortization expense was $1.0 million and $2.4 million for the three months ended June 30, 2025 and June 30, 2024, respectively, and $2.0 million and $2.5 million for the six months ended June 30, 2025 and June 30, 2024, respectively.Goodwill

As of June 30, 2025 and December 31, 2024, the Company’s goodwill balance was $98.9 million and $98.2 million, respectively. The goodwill balance was a result of the acquisition of Satelles, Inc.  

5. DebtTerm Loan and Revolving FacilityPursuant to a credit agreement (as amended to date, the “Credit Agreement”), the Company previously entered into a term loan totaling $1,500.0 million (as so amended and restated, the “Term Loan”), issued at a price equal to 99.75% of its face value, and an accompanying $100.0 million revolving loan (the “Revolving Facility”). The maturity date of the Term Loan is in September 2030. During the year ended December 31, 2024, the Company borrowed an additional $325.0 million under its Term Loan, comprised of $125.0 million on March 25, 2024 and $200.0 million on July 30, 2024. The additional amounts borrowed are fungible with