Company: IRDM
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001418819-25-000009
Chunk: 0

Company: Iridium Communications Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 1
Chunk 0
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PART I.

Iridium Communications Inc.

Condensed Consolidated Balance Sheets

(In thousands, except per share data)

 September 30,2025December 31, 2024(Unaudited) Assets  Current assets:Cash and cash equivalents$88,533 $93,526 Accounts receivable, net94,494 98,803 Inventory76,187 81,283 Prepaid expenses and other current assets16,748 19,118 Total current assets275,962 292,730 Property and equipment, net1,993,124 2,080,544 Equity method investments40,351 42,516 Other assets57,756 66,618 Intangible assets, net87,915 90,877 Goodwill98,942 98,186 Total assets$2,554,050 $2,671,471 Liabilities and stockholders’ equity  Current liabilities:  Short-term secured debt$— $33,118 Accounts payable13,152 19,715 Accrued expenses and other current liabilities48,571 64,811 Deferred revenue41,526 51,570 Total current liabilities103,249 169,214 Long-term secured debt, net1,809,843 1,757,767 Deferred income tax liabilities, net125,792 114,140 Deferred revenue, net of current portion35,425 38,259 Other long-term liabilities29,244 15,454 Total liabilities2,103,553 2,094,834 Commitments and contingenciesStockholders’ equity:  Common stock, $0.001 par value, 300,000 shares authorized, 104,736 and 110,357 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively105 110 Additional paid-in capital889,398 964,348 Accumulated deficit(443,419)(406,092)Accumulated other comprehensive income, net of tax4,413 18,271 Total stockholders’ equity450,497 576,637 Total liabilities and stockholders’ equity$2,554,050 $2,671,471 

See notes to unaudited condensed consolidated financial statements.

3

Iridium Communications Inc.

Condensed Consolidated Statements of Operations and Comprehensive Income

(In thousands, except per