Company: IRDM
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001628280-25-035835
Chunk: 29

Company: Iridium Communications Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
Chunk 29
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 method investments26,635 13 %19,203 10 %7,432 39 %Income tax expense(3,807)(2)%(4,565)(2)%758 (17)%Gain (loss) on equity method investments(860)— %17,698 9 %(18,558)(105)%Net income$21,968 11 %$32,336 17 %$(10,368)(32)%

20

Revenue

Commercial Service Revenue 

Three Months Ended June 30,20252024ChangeRevenueBillableSubscribers (1)ARPU (2)RevenueBillableSubscribers (1)ARPU (2)RevenueBillableSubscribersARPU(Revenue in millions and subscribers in thousands)Commercial services:Voice and data$56.8 415 $46 $56.5 417 $46 $0.3 (2)$— IoT data 44.8 1,924 7.83 41.6 1,837 7.70 3.2 87 0.13 Broadband (3)12.7 16.3 260 13.5 16.8 269 (0.8)(0.5)(9)Hosted payload and other data14.5 N/A14.4 N/A0.1 N/ATotal commercial services$128.8 2,355 $126.0 2,271$2.8 84 

(1)Billable subscriber numbers shown are at the end of the respective period.

(2)Average monthly revenue per unit, or ARPU, is calculated by dividing revenue in the respective period by the average of the number of billable subscribers at the beginning of the period and the number of billable subscribers at the end of the period and then dividing the result by the number of months in the period. Billable subscriber and ARPU data is not applicable for hosted payload and other data service revenue items.

(3)Commercial broadband service consists of Iridium OpenPort® and Iridium Certus® broadband services.

For the three months ended June 30, 2025, total commercial services revenue increased $2.8 million, or 2%, from the prior year period primarily as a result of increases in IoT. Commercial IoT revenue increased $3.2 million, or 8%, for the three months ended June