Company: IRDM
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001418819-25-000009
Chunk: 117

Company: Iridium Communications Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 8
Chunk 117
---
 services revenue and decreasing operating expenses, as described above.

Comparison of Our Results of Operations for the Nine Months Ended September 30, 2025 and 2024

Nine Months Ended September 30,Change2025% of Total Revenue2024% of Total Revenue($ in thousands)DollarsPercentRevenue:Services$475,105 72 %$460,899 75 %$14,206 3 %Subscriber equipment64,083 10 %69,819 11 %(5,736)(8)%Engineering and support services119,531 18 %86,973 14 %32,558 37 %Total revenue658,719 100 %617,691 100 %41,028 7 %Operating expenses:Cost of services (exclusive of depreciationand amortization)153,152 23 %129,761 21 %23,391 18 %Cost of subscriber equipment36,830 6 %40,595 7 %(3,765)(9)%Research and development14,640 2 %19,899 3 %(5,259)(26)%Selling, general and administrative115,887 18 %127,487 21 %(11,600)(9)%Depreciation and amortization157,479 24 %151,680 24 %5,799 4 %Total operating expenses477,988 73 %469,422 76 %8,566 2 %Operating income180,731 27 %148,269 24 %32,462 22 %Other expense:Interest expense, net(67,169)(10)%(68,706)(11)%1,537 (2)%Other expense, net(2,184)— %(291)— %(1,893)651 %Total other expense, net(69,353)(10)%(68,997)(11)%(356)1 %Income before income taxes and gain (loss) on equity method investments111,378 17 %79,272 13 %32,106 41 %Income tax expense(19,629)(3)%(18,501)(3)%(1,128)6 %Gain (loss) on equity method investments(2,242)— %15,664 3 %(17,906)(114)%Net income$89,507 14