Iridium Communications Inc.
For the period ended Dec 31, 2025. Filed Feb 12, 2026.
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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.
FY2025 · Filed Feb 12, 2026
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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Item 8. Consolidated Statements of Cash Flows
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities: | |||
| Net income | $114,372 | $112,776 | $15,415 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Deferred income taxes | 22,167 | 6,560 | (31,828) |
| Depreciation and amortization | 210,207 | 203,127 | 320,000 |
| Stock-based compensation (net of amounts capitalized) | 51,579 | 63,457 | 57,455 |
| Amortization of deferred financing fees | 2,784 | 2,523 | 3,739 |
| (Gain) loss on equity method investments | 2,823 | (15,251) | 6,089 |
| All other items, net | 3,829 | 715 | 732 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 5,577 | (6,366) | (9,538) |
| Inventory | 4,706 | 9,822 | (50,958) |
| Prepaid expenses and other current assets | 7,368 | (2,985) | (1,153) |
| Other assets | 6,379 | 5,543 | 3,019 |
| Accounts payable | (4,705) | (18,808) | 2,759 |
| Accrued expenses and other current liabilities | (12,173) | 9,790 | 4,899 |
| Deferred revenue | (10,238) | 6,845 | (2,961) |
| Other long-term liabilities | (4,602) | (1,793) | (2,756) |
| Net cash provided by operating activities | 400,073 | 375,955 | 314,913 |
| Cash flows from investing activities: | |||
| Capital expenditures | (100,280) | (69,890) | (73,487) |
| Investment in related parties | — | — | (10,000) |
| Acquisition of Satelles, Inc., net of cash acquired | — | (110,713) | — |
| Net cash used in investing activities | (100,280) | (180,603) | (83,487) |
| Cash flows from financing activities: | |||
| Borrowings under the Term Loan | — | 419,783 | 63,940 |
| Payments on the Term Loan | (33,024) | (114,194) | (72,315) |
| Borrowings under the Revolving Credit Facility | 50,000 | — | — |
| Payments on the Revolving Credit Facility | (50,000) | — | — |
| Repurchases of common stock | (186,475) | (407,725) | (247,019) |
| Payment of deferred financing fees | — | (345) | (1,162) |
| Proceeds from exercise of stock options | 1,126 | 3,441 | 3,958 |
| Tax payments upon settlement of stock awards | (18,683) | (6,702) | (9,680) |
| Payment of common stock dividends | (62,854) | (64,739) | (64,774) |
| Net cash used in financing activities | (299,910) | (170,481) | (327,052) |
| Effect of exchange rate changes on cash and cash equivalents | 3,092 | (3,215) | (1,274) |
| Net increase (decrease) in cash and cash equivalents and restricted cash | 2,975 | 21,656 | (96,900) |
| Cash, cash equivalents and restricted cash, beginning of period | 93,526 | 71,870 | 168,770 |
| Cash, cash equivalents and restricted cash, end of period | $96,501 | $93,526 | $71,870 |
Consolidated Statements of Cash Flows, continued
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Supplemental cash flow information: | |||
| Interest paid, net of amounts capitalized | $90,157 | $95,311 | $91,936 |
| Income taxes paid, net | $7,007 | $5,248 | $4,225 |
| Supplemental disclosure of non-cash investing and financing activities: | |||
| Property and equipment received but not paid for yet | $10,945 | $13,169 | $7,070 |
| Capitalized stock-based compensation | $5,682 | $4,870 | $6,684 |
| Dividends accrued on common stock | $3,454 | $2,535 | $1,315 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.