Company: IRDM
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001418819-25-000009
Chunk: 17

Company: Iridium Communications Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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2024, the Company incurred $1.2 million and $2.7 million, respectively, of related taxes, which are not included in the total purchase price. In addition, in September 2024, the Company purchased 21,000 shares for $0.7 million, which were settled and retired in October 2024.As of September 30, 2025, $245.3 million remained available and authorized for repurchase under this program.

8. Revenue

The following table summarizes the Company’s services revenue: Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024 (In thousands)(In thousands)Commercial services revenue:Voice and data $59,930 $57,693 $172,682 $169,125 IoT data46,707 43,695 135,303 124,759 Broadband12,970 15,549 38,570 42,719 Hosted payload and other data18,726 16,372 48,140 44,750 Total commercial services revenue138,333 133,309 394,695 381,353 Government services revenue26,910 26,546 80,410 79,546 Total services revenue$165,243 $159,855 $475,105 $460,899 The following table summarizes the Company’s engineering and support services revenue: Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024 (In thousands)(In thousands)Commercial$1,852 $1,731 $5,893 $4,404 Government38,333 29,016 113,638 82,569 Total engineering and support services revenue$40,185 $30,747 $119,531 $86,973 Approximately 37% and 51% of the Company’s accounts receivable balance at September 30, 2025 and December 31, 2024, respectively, were due from prime contracts or subcontracts with agencies of the U.S. government. The Company’s contracts with customers generally do not contain performance obligations with terms in excess of one year. As such, the Company does not disclose details related to the value of performance obligations that are unsatisfied as of the end of the reporting period. The total value of any performance obligations that extend beyond one year is immaterial to the