Iridium Communications Inc
For the period ended Dec 31, 2023. Filed Feb 15, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 15, 2024
IRDM$46.13+2.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations and Comprehensive Income (Loss)
(In thousands, except per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue: | |||
| Services | $584,454 | $534,721 | $491,991 |
| Subscriber equipment | 105,136 | 134,714 | 92,071 |
| Engineering and support services | 101,133 | 51,599 | 30,438 |
| Total revenue | 790,723 | 721,034 | 614,500 |
| Operating expenses: | |||
| Cost of services (exclusive of depreciation and amortization) | 158,710 | 115,137 | 97,020 |
| Cost of subscriber equipment | 66,410 | 86,012 | 53,376 |
| Research and development | 20,269 | 16,218 | 11,885 |
| Selling, general and administrative | 143,706 | 123,504 | 100,474 |
| Depreciation and amortization | 320,000 | 303,484 | 305,431 |
| Total operating expenses | 709,095 | 644,355 | 568,186 |
| Operating income | 81,628 | 76,679 | 46,314 |
| Other income (expense): | |||
| Interest expense, net | (90,387) | (65,089) | (73,906) |
| Loss on extinguishment of debt | — | (1,187) | (879) |
| Other income (expense), net | 4,012 | 107 | (417) |
| Total other expense | (86,375) | (66,169) | (75,202) |
| Income (loss) before income taxes and equity in net earnings of affiliates | (4,747) | 10,510 | (28,888) |
| Income tax benefit (expense) | 26,251 | (292) | 19,569 |
| Loss on equity method investments | (6,089) | (1,496) | — |
| Net income (loss) | 15,415 | 8,722 | (9,319) |
| Weighted average shares outstanding - basic | 125,598 | 128,255 | 133,530 |
| Weighted average shares outstanding - diluted | 127,215 | 130,134 | 133,530 |
| Net income (loss) attributable to common stockholders per share - basic and diluted | $0.12 | $0.07 | $(0.07) |
| Comprehensive income (loss): | |||
| Net income (loss) | $15,415 | $8,722 | $(9,319) |
| Foreign currency translation adjustments | (58) | (53) | (280) |
| Unrealized gain (loss) on cash flow hedges, net of tax (see Note 8) | (17,598) | 58,668 | 10,408 |
| Comprehensive income (loss) | $(2,241) | $67,337 | $809 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.