Company: IRDM
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001418819-25-000009
Chunk: 42

Company: Iridium Communications Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 and may be modified, suspended, or discontinued at any time without notice at the discretion of our Board of Directors. 

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Cash Flows

The following table summarizes our cash flows:

 Nine Months Ended September 30,  20252024Change (In thousands)Cash provided by operating activities$291,478 $271,166 $20,312 Cash used in investing activities$(66,791)$(156,335)$89,544 Cash used in financing activities$(232,428)$(26,155)$(206,273)

Cash Flows Provided by Operating Activities

Net cash provided by operating activities for the nine months ended September 30, 2025 increased by $20.3 million from the prior year period. The changes in operating cash relate to increased net income and a decrease in non-cash income from equity method investments as the prior year included a gain on the acquisition of Satelles. These changes were offset by a working capital decrease of approximately $10.7 million, primarily due to recognition of deferred revenue and the change in employee-related accruals, offset by higher cash inflows associated with timing of customer and vendor payments.

Cash Flows Used in Investing Activities

Net cash used in investing activities for the nine months ended September 30, 2025 decreased by $89.5 million as compared to the prior year period, primarily as a result of the Satelles acquisition during the prior year period, offset in part by an increase in capital expenditures compared to the prior year period.

Cash Flows Used in Financing Activities

Net cash used in financing activities for the nine months ended September 30, 2025 increased by $206.3 million compared to the prior year period. Expenditures in the current year are primarily related to share repurchases and the payment of dividends, while the prior year period included cash inflow related to the additional $325.0 million in borrowings under the Term Loan, offset in part by share repurchases and the payment of dividends.

U.S. Tax Regulation Update

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA permanently extends certain expiring provisions of the Tax Cuts and Jobs Act, modifies the international tax framework, and restores certain favorable business tax provisions, among other changes. The legislation has multiple effective dates, with certain provisions effective in 2025 and others to be implemented through 2027. We have incorporated the impact of