Company: IRDM
Filing Date: 2025-10-23
Form Type: 10-Q
Source: 0001418819-25-000009
Chunk: 112

Company: Iridium Communications Inc.
Filing Date: 2025-10-23
Form: 10-Q
Item: Part I, Item 8
Chunk 112
---
 any of these customers may negatively impact our revenue and collectability of related accounts receivable, including as a result of an extended government shutdown or the use of continuing resolutions.

19

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

Three Months Ended September 30,Change2025% of Total Revenue2024% of Total Revenue($ in thousands)DollarsPercentRevenue:Services$165,243 73 %$159,855 75 %$5,388 3 %Subscriber equipment21,507 9 %22,169 10 %(662)(3)%Engineering and support services40,185 18 %30,747 15 %9,438 31 %Total revenue226,935 100 %212,771 100 %14,164 7 %Operating expenses:Cost of services (exclusive of depreciationand amortization)50,762 22 %43,848 21 %6,914 16 %Cost of subscriber equipment12,661 6 %12,769 6 %(108)(1)%Research and development4,944 2 %6,189 3 %(1,245)(20)%Selling, general and administrative35,508 16 %43,953 21 %(8,445)(19)%Depreciation and amortization52,975 23 %51,160 23 %1,815 4 %Total operating expenses156,850 69 %157,919 74 %(1,069)(1)%Operating income70,085 31 %54,852 26 %15,233 28 %Other expense:Interest expense, net(22,593)(10)%(24,246)(11)%1,653 (7)%Other income, net372 — %312 — %60 19 %Total other expense, net(22,221)(10)%(23,934)(11)%1,713 (7)%Income before income taxes and loss on equity method investments47,864 21 %30,918 15 %16,946 55 %Income tax expense(10,003)(4)%(6,005)(3)%(3,998)67 %Loss on equity method investments(734)— %(467)— %(267)57 %Net income$