Company: IRDM
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001418819-25-000009
Chunk: 4

Company: Iridium Communications Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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791)(16,791)— — — — (17,518)(17,518)Net income — — — 89,507 — 89,507 — — — 76,435 — 76,435 Balances at end of period104,736 $105 $889,398 $(443,419)$4,413 $450,497 114,246 $114 $1,003,736 $(355,471)$15,378 $663,757 

See notes to unaudited condensed consolidated financial statements.

5

Iridium Communications Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

 Nine Months Ended September 30,20252024Cash flows from operating activities:Net income$89,507 $76,435 Adjustments to reconcile net income to net cash provided by operating activities:Deferred income taxes15,782 14,676 Depreciation and amortization157,479 151,680 Stock-based compensation (net of amounts capitalized)43,992 51,026 Amortization of deferred financing fees2,080 1,826 (Gain) loss on equity method investments2,242 (15,664)All other items, net616 688 Changes in operating assets and liabilities:Accounts receivable4,813 (3,724)Inventory5,342 8,758 Prepaid expenses and other current assets2,940 115 Other assets5,172 11,036 Accounts payable(6,038)(26,760)Accrued expenses and other current liabilities(14,035)(2,344)Deferred revenue(14,345)3,697 Other long-term liabilities(4,069)(279)Net cash provided by operating activities291,478 271,166 Cash flows from investing activities:  Capital expenditures(66,791)(45,622)Acquisition of Satelles, Inc., net of cash acquired— (110,713)Net cash used in investing activities(66,791)(156,335)Cash flows from financing activities:  Borrowings under the Term Loan— 419,783 Payments on the Term Loan(33,024)(109,629)Borrowings under the Revolving Credit Facility50,000 50,000 Payments on the Revolving Credit Facility— (50,000