Company: IRDM
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001628280-25-035835
Chunk: 4

Company: Iridium Communications Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
Chunk 4
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(12,216)(12,216)— — — — 1,883 1,883 Net income — — — 52,380 — 52,380 — — — 51,989 — 51,989 Balances at end of period106,393 $106 $910,880 $(446,674)$9,303 $473,615 118,518 $119 $1,043,691 $(292,178)$35,067 $786,699 

See notes to unaudited condensed consolidated financial statements.

5

Iridium Communications Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

 Six Months Ended June 30,20252024Cash flows from operating activities:Net income$52,380 $51,989 Adjustments to reconcile net income to net cash provided by operating activities:Deferred income taxes6,741 10,297 Depreciation and amortization104,504 100,520 Stock-based compensation (net of amounts capitalized)30,837 33,347 Amortization of deferred financing fees1,375 1,202 (Gain) loss on equity method investments1,508 (16,131)All other items, net431 322 Changes in operating assets and liabilities:Accounts receivable18,188 (3,304)Inventory4,090 5,358 Prepaid expenses and other current assets2,092 (2,067)Other assets2,638 2,934 Accounts payable(6,406)(17,886)Accrued expenses and other current liabilities(16,408)(12,479)Deferred revenue(7,204)(1,512)Other long-term liabilities(4,070)(50)Net cash provided by operating activities190,696 152,540 Cash flows from investing activities:  Capital expenditures(45,256)(27,006)Acquisition of Satelles, Inc., net of cash acquired— (110,713)Net cash used in investing activities(45,256)(137,719)Cash flows from financing activities:  Borrowings under the Term Loan— 221,783 Payments on the Term Loan(33,024)(105,064)Borrowings under the Revolving Credit Facility50,000 50,000 Repurchases of common stock(136,