Company: IRDM
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001628280-25-005302
Chunk: 115

Company: Iridium Communications Inc.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 115
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2,671,471 $2,661,775 

See notes to consolidated financial statements

58

Iridium Communications Inc.

Consolidated Statements of Operations and Comprehensive Income (Loss)

(In thousands, except per share amounts)

 Year Ended December 31, 202420232022Revenue:Services$614,914 $584,454 $534,721 Subscriber equipment91,416 105,136 134,714 Engineering and support services124,352 101,133 51,599 Total revenue830,682 790,723 721,034 Operating expenses:Cost of services (exclusive of depreciation and amortization)178,140 158,710 115,137 Cost of subscriber equipment52,427 66,410 86,012 Research and development28,422 20,269 16,218 Selling, general and administrative168,182 143,706 123,504 Depreciation and amortization203,127 320,000 303,484 Total operating expenses630,298 709,095 644,355 Operating income200,384 81,628 76,679 Other income (expense):Interest expense, net(91,134)(90,387)(65,089)Loss on extinguishment of debt— — (1,187)Other income, net534 4,012 107 Total other expense(90,600)(86,375)(66,169)Income (loss) before income taxes and equity in net earnings of affiliates109,784 (4,747)10,510 Income tax (expense) benefit(12,259)26,251 (292)Gain (loss) on equity method investments15,251 (6,089)(1,496)Net income112,776 15,415 8,722 Weighted average shares outstanding - basic118,566 125,598 128,255 Weighted average shares outstanding - diluted119,792 127,215 130,134 Net income attributable to common stockholders per share - basic$0.95 $0.12 $0.07 Net income (loss) attributable to common stockholders per share - diluted$0.94 $0.12 $0.07 Comprehensive income (loss):Net income$112,776 $15,415 $8,722 Foreign currency translation adjustments(3