Iridium Communications Inc.
For the period ended Sep 30, 2025. Filed Oct 23, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 23, 2025
IRDM$46.13+2.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Income
(In thousands, except per share amounts)
| Three Months EndedSeptember 30, | Nine Months EndedSeptember 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue: | ||||
| Services | $165,243 | $159,855 | $475,105 | $460,899 |
| Subscriber equipment | 21,507 | 22,169 | 64,083 | 69,819 |
| Engineering and support services | 40,185 | 30,747 | 119,531 | 86,973 |
| Total revenue | 226,935 | 212,771 | 658,719 | 617,691 |
| Operating expenses: | ||||
| Cost of services (exclusive of depreciation and amortization) | 50,762 | 43,848 | 153,152 | 129,761 |
| Cost of subscriber equipment | 12,661 | 12,769 | 36,830 | 40,595 |
| Research and development | 4,944 | 6,189 | 14,640 | 19,899 |
| Selling, general and administrative | 35,508 | 43,953 | 115,887 | 127,487 |
| Depreciation and amortization | 52,975 | 51,160 | 157,479 | 151,680 |
| Total operating expenses | 156,850 | 157,919 | 477,988 | 469,422 |
| Operating income | 70,085 | 54,852 | 180,731 | 148,269 |
| Other expense, net: | ||||
| Interest expense, net | (22,593) | (24,246) | (67,169) | (68,706) |
| Other income (expense), net | 372 | 312 | (2,184) | (291) |
| Total other expense, net | (22,221) | (23,934) | (69,353) | (68,997) |
| Income before income taxes and gain (loss) on equity method investments | 47,864 | 30,918 | 111,378 | 79,272 |
| Income tax expense | (10,003) | (6,005) | (19,629) | (18,501) |
| Gain (loss) on equity method investments | (734) | (467) | (2,242) | 15,664 |
| Net income | $37,127 | $24,446 | $89,507 | $76,435 |
| Weighted average shares outstanding - basic | 106,095 | 117,449 | 108,160 | 120,390 |
| Weighted average shares outstanding - diluted | 106,476 | 118,111 | 108,846 | 121,261 |
| Net income per share - basic | $0.35 | $0.21 | $0.83 | $0.63 |
| Net income per share - diluted | $0.35 | $0.21 | $0.82 | $0.63 |
| Comprehensive income: | ||||
| Net income | $37,127 | $24,446 | $89,507 | $76,435 |
| Foreign currency translation adjustments | (315) | (288) | 2,933 | (1,011) |
| Unrealized loss on cash flow hedges, net of tax (see Note 6) | (4,575) | (19,401) | (16,791) | (17,518) |
| Comprehensive income | $32,237 | $4,757 | $75,649 | $57,906 |
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