Company: IRDM
Filing Date: 2025-07-24
Form Type: 10-Q
Source: 0001628280-25-035835
Chunk: 33

Company: Iridium Communications Inc.
Filing Date: 2025-07-24
Form: 10-Q
Item: Part I, Item 8
Chunk 33
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 in the prior year, offset in part by the improvements in operating income, noted above.

Comparison of Our Results of Operations for the Six Months Ended June 30, 2025 and 2024

Six Months Ended June 30,Change2025% of Total Revenue2024% of Total Revenue($ in thousands)DollarsPercentRevenue:Services$309,862 72 %$301,044 74 %$8,818 3 %Subscriber equipment42,576 10 %47,650 12 %(5,074)(11)%Engineering and support services79,346 18 %56,226 14 %23,120 41 %Total revenue431,784 100 %404,920 100 %26,864 7 %Operating expenses:Cost of services (exclusive of depreciationand amortization)102,389 24 %85,913 21 %16,476 19 %Cost of subscriber equipment24,169 5 %27,826 7 %(3,657)(13)%Research and development9,696 2 %13,710 3 %(4,014)(29)%Selling, general and administrative80,380 19 %83,534 21 %(3,154)(4)%Depreciation and amortization104,504 24 %100,520 25 %3,984 4 %Total operating expenses321,138 74 %311,503 77 %9,635 3 %Operating income110,646 26 %93,417 23 %17,229 18 %Other expense:Interest expense, net(44,576)(10)%(44,460)(11)%(116)— %Other expense, net(2,556)(1)%(603)— %(1,953)324 %Total other expense, net(47,132)(11)%(45,063)(11)%(2,069)5 %Income before income taxes and gain (loss) on equity method investments63,514 15 %48,354 12 %15,160 31 %Income tax expense(9,626)(2)%(12,496)(3)%2,870 (23)%Gain (loss) on equity method investments(1,508)— %16,131 4 %(17,639)(109)%Net income