Company: IRDM
Filing Date: 2025-04-22
Form Type: 10-Q
Source: 0001628280-25-018712
Chunk: 61

Company: Iridium Communications Inc.
Filing Date: 2025-04-22
Form: 10-Q
Item: Part I, Item 2
Chunk 61
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,338 5 %Cost of subscriber equipment12,867 6 %13,880 7 %(1,013)(7)%Research and development5,417 3 %7,198 4 %(1,781)(25)%Selling, general and administrative35,752 16 %36,811 18 %(1,059)(3)%Depreciation and amortization51,667 24 %49,744 24 %1,923 4 %Total operating expenses154,490 72 %154,082 76 %408 — %Operating income60,388 28 %49,771 24 %10,617 21 %Other income (expense):Interest expense, net(21,824)(10)%(20,663)(10)%(1,161)6 %Other income (expense), net(1,685)(1)%43 — %(1,728)(4,019)%Total other expense, net(23,509)(11)%(20,620)(10)%(2,889)14 %Income before income taxes and loss on equity method investments36,879 17 %29,151 14 %7,728 27 %Income tax expense(5,819)(3)%(7,931)(3)%2,112 (27)%Loss on equity method investments(648)— %(1,567)(1)%919 (59)%Net income$30,412 14 %$19,653 10 %$10,759 55 %

21

Revenue

Commercial Service Revenue 

Three Months Ended March 31,20252024ChangeRevenueBillableSubscribers (1)ARPU (2)RevenueBillableSubscribers (1)ARPU (2)RevenueBillableSubscribersARPU(Revenue in millions and subscribers in thousands)Commercial services:Voice and data$55.9 409 $45 $55.0 405 $45 $0.9 4 $— IoT data 43.8 1,885 7.75 39.4 1,766 7.57 4.4 119 0.18 Broadband (3)12.9 16.3 261 13.7 16.6 274 (0.8)(0.3)(13)Host