Company: IRDM
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0001628280-25-005302
Chunk: 114

Company: Iridium Communications Inc.
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 114
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 to value the customer relationships by comparing the Company’s inputs to the discount rate to publicly available data for comparable entities and assessing the resulting discount rate.

/s/ KPMG LLP

We have served as the Company’s auditor since 2022.

McLean, Virginia

February 13, 2025 

57

Iridium Communications Inc.

Consolidated Balance Sheets

(In thousands, except per share data)

 December 31, 2024December 31, 2023Assets  Current assets:Cash and cash equivalents$93,526 $71,870 Accounts receivable, net98,803 91,715 Inventory81,283 91,135 Prepaid expenses and other current assets19,118 16,364 Total current assets292,730 271,084 Property and equipment, net2,080,544 2,195,758 Equity method investments42,516 67,130 Other assets66,618 86,708 Intangible assets, net90,877 41,095 Goodwill98,186 — Total assets$2,671,471 $2,661,775 Liabilities and stockholders’ equity Current liabilities: Short-term secured debt33,118 15,000 Accounts payable19,715 28,671 Accrued expenses and other current liabilities64,811 54,826 Deferred revenue51,570 33,057 Total current liabilities169,214 131,554 Long-term secured debt, net1,757,767 1,467,490 Deferred income tax liabilities, net114,140 114,642 Deferred revenue, net of current portion38,259 43,965 Other long-term liabilities15,454 16,025 Total liabilities2,094,834 1,773,676 Commitments and contingenciesStockholders’ equity: Common stock, $0.001 par value, 300,000 shares authorized, 110,357 and 122,776 shares issued and outstanding at December 31, 2024 and 2023, respectively110 123 Additional paid-in capital964,348 1,089,466 Accumulated deficit(406,092)(235,397)Accumulated other comprehensive income, net of tax18,271 33,907 Total stockholders’ equity576,637 888,099 Total liabilities and stockholders’ equity$