Company: IRDM
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001628280-25-005302
Chunk: 156

Company: Iridium Communications Inc.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 156
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 manufacturer or an alternative supplier for such component parts.The following table summarizes net property and equipment by geographic area:December 31, 20242023 (In thousands)United States$449,012 $412,002 Satellites in orbit1,630,121 1,782,000 All others1,411 1,756 Total$2,080,544 $2,195,758 The following table summarizes revenue by geographic area:Year Ended December 31, 202420232022  (In thousands) United States$437,984 $431,476 $374,687 Canada88,386 65,772 67,893 Other countries (1)304,312 293,475 278,454 Total$830,682 $790,723 $721,034 (1)No single country in this group represented more than 10% of revenue.Revenue is attributed to geographic area based on the billing address of the distributor. Service location and the billing address are often not the same. The Company’s distributors sell services directly or indirectly to end users, who may be located or use the Company’s products and services elsewhere. The Company does not know the geographical distribution of end users because it does not contract directly with them. The Company is exposed to foreign currency exchange fluctuations from sales made and costs incurred in foreign currencies.

17. Employee Benefit Plan

The Company sponsors a defined-contribution 401(k) retirement plan (the “Plan”) that covers all employees. Employees are eligible to participate in the Plan on the first day of the month following the date of hire, and participants are 100% vested from the date of eligibility. The Company matches employees’ contributions equal to 100% of the salary deferral contributions up to 5% of the employees’ eligible compensation each pay period. The Company’s expenses related to matching under the Plan were $5.9 million, $4.3 million and $3.5 million for the years ended December 31, 2024, 2023 and 2022, respectively.

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