Iridium Communications Inc.
For the period ended Mar 31, 2025. Filed Apr 22, 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.
Mar 31, 2025 · Filed Apr 22, 2025
What changed in Risk Factors?
Read the current filingPrevious report: 10-Q
Period ended 2024-09-30; filed 2024-10-17.
0001628280-24-042983
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresCurrent report: 10-Q
Period ended 2025-03-31; filed 2025-04-22.
0001628280-25-018712
Item 1A. Risk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 11 previous paragraphs and 9 current paragraphs.
7 unchanged; 1 reworded; 1 added; 3 removed; 0 previous and 0 current paragraphs rearranged.
Tables are not compared: 1 previous and 1 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (1)
Current report
There have been no material changes from the risk factors described in the Annual Report.
Removed paragraphs (3)
Previous report
Our business is subject to risks and events that, if they occur, could adversely affect our financial condition and results of operations and the trading price of our securities. In addition to the other information set forth in this quarterly report on Form 10-Q, you should carefully consider the factors described in “Part I, Item 1A. Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission on February 15, 2024, as supplemented by the following risk factor.
Previous report
Our PNT business, acquired in our purchase of Satelles, Inc., may be difficult to integrate and may not achieve its projected results.
Previous report
In April 2024, we completed the acquisition of Satelles, Inc., adding a new line of business, which we refer to as our positioning, navigation and timing, or PNT, business. Satelles is the first company we have acquired in full, and integrating its personnel, services and operations into our existing business may be more difficult than we anticipated, resulting in increased expenses and diversion of management’s time. In addition, we may not be successful in growing the PNT business as we have projected, which could harm our financial condition and results of operations.
Reworded paragraphs (1)
Previous wording
In July 2023, our board of directors authorized a share repurchase program of up to $400.0 million through December 31, 2025, and in September 2024, our board of directors authorized an additional share repurchase program of up to $500.0 million through December 31, 2027. Since initiating share repurchases in February 2021, our board has authorized the repurchase of an aggregate $1,500.0 million of our common stock, including the programs referenced above. All shares included in the table above were purchased under this authorization in open market transactions, which does not include commissions or excise taxes.
Current wording
Since initiating share repurchases in February 2021, our board of directors has authorized the repurchase of up to $1,500.0 million of our common stock, including the September 2024 authorization to repurchase up to $500.00 million through December 31, 2027. All shares included in the table above were purchased under this authorization in open market transactions. Amounts in the table above do not include commissions incurred or excise taxes payable in connection with the repurchases.