Iridium Communications Inc.

Listed Company

IRDMCIK 0001418819NasdaqLarge AcceleratedCommunications Services, NecNew YorkFY ends Dec 31

Period

FY 2025

Revenue

$871.66M

Net Income

$114.37M

Total Assets

$2.53B

Equity

$462.60M

Shares Out

105.73M

Op. Cash Flow

$400.07M

Business

Iridium Communications Inc. operates a global low‑earth‑orbit L‑band satellite network that provides real‑time voice and data connectivity where terrestrial networks are unavailable. It offers mobile voice and data, IoT and broadband services (Iridium Certus), hosted payload and PNT services, satellite handsets, transceivers and related engineering and support. Its principal segments are commercial voice and data, commercial broadband, IoT, hosted payloads/other data services (including PNT), and U.S. government services. Distribution is primarily through a global wholesale network of service providers, VARs, VAMs and developers serving maritime, aviation, land‑mobile and government customers across the Americas, Asia‑Pacific and Europe.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Total Revenue	872	831	791	721	615
Research and development	20	28	20	16	12
Selling, general and administrative	158	168	144	124	100
Depreciation and amortization	210	203	320	303	305
Total operating expenses	636	630	709	644	568
Operating income	236	200	82	77	46
Interest expense, net	−88	−91	−90	−65	−74
Other income (expense), net	−3	534,000	4	107,000	−417,000
Total other expense	−91	−91	−86	−66	−75
Income (loss) before income taxes and equity in net earnings of affiliates	145	110	−5	11	—
Income tax (expense) benefit	28	12	−26	292,000	−20
(Gain) loss on equity method investments	−3	15	−6	−1	0
Net Income (Loss) Attributable to Parent, Total	114	113	15	9	−9
Weighted average shares outstanding - basic	107	119	126	128	134
Weighted Average Number of Shares Outstanding, Diluted	108	120	127	130	134
Earnings Per Share, Basic and Diluted	1.07	0.95	0.12	0.07	−0.07
Earnings Per Share, Diluted	1.06	0.94	0.12	0.07	—
Foreign currency translation adjustments	3	−3	−58,000	−53,000	−280,000
Loss from Components Excluded from Assessment of Cash Flow Hedge Effectiveness	−21	−12	−18	—	—
Comprehensive income (loss)	97	97	−2	67	809,000

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-03-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	97	94	—	72	169
Accounts receivable, net	94	99	—	92	82
Inventory	74	81	—	91	40
Prepaid expenses and other current assets	12	19	—	16	15
Total current assets	277	293	—	271	306
Total property and equipment, net of accumulated depreciation	1,978	2,081	—	2,196	2,433
Equity Method Investments	40	43	—	67	50
Other assets	51	67	—	87	122
Intangible assets, net	87	91	—	41	43
Goodwill	99	98	98	0	—
Total assets	2,531	2,671	—	2,662	2,954
Short-Term Debt	3	33	—	15	17
Accounts payable	18	20	—	29	21
Accrued expenses and other current liabilities	49	65	—	55	68
Deferred revenue	41	52	—	33	36
Total current liabilities	112	169	—	132	142
Total Long Term Debt, Net	1,757	1,758	—	1,467	1,471
Deferred income tax liabilities, net	131	114	—	115	152
Deferred revenue, net of current portion	40	38	—	44	45
Other long-term liabilities	29	15	—	16	16
Total liabilities	2,068	2,095	—	1,774	1,825
Commitments and contingencies	—	—	—	—	—
Additional paid-in capital	881	964	—	1,089	1,125
Accumulated deficit	−419	−406	—	−235	−48
Accumulated other comprehensive income, net of tax	406,000	18	—	34	52
Total stockholders equity	463	577	—	888	1,129
Total liabilities and stockholders equity	2,531	2,671	—	2,662	2,954

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income taxes	22	7	−32	−1	−21
Stock-based compensation (net of amounts capitalized)	52	63	57	44	27
Amortization of deferred financing fees	3	3	4	5	4
All other items, net	4	715,000	732,000	638,000	−160,000
Accounts receivable	6	−6	−10	−19	−2
Inventory	5	10	−51	−10	4
Prepaid expenses and other current assets	7	−3	−1	−4	−2
Other assets	6	6	3	3	4
Accounts payable	−5	−19	3	5	−2
Accrued expenses and other current liabilities	−12	10	5	6	7
Deferred revenue	−10	7	−3	5	−8
Other long-term liabilities	−5	−2	−3	−4	−5
Net cash provided by operating activities	400	376	315	345	303
Capital expenditures	−100	−70	−73	−71	−42
Investment in related parties	0	0	10	50	—
Investment in related parties	0	−111	0	0	−2
Net cash used in investing activities	−100	−181	−83	−121	−36
Borrowings under the Term Loan	0	420	64	0	179
Payments on the Term Loan	−33	−114	−72	−117	−196
Proceeds from Lines of Credit	50	0	0	—	—
Repayments of Lines of Credit	−50	0	0	—	0
Repurchases of common stock	−186	−408	−247	−257	−163
Payment of deferred financing fees	0	−345,000	−1	0	−4
Proceeds from exercise of stock options	1	3	4	4	7
Tax payments upon settlement of stock awards	−19	−7	−10	−5	−6
Payment of common stock dividends	−63	−65	−65	0	0
Net cash used in financing activities	−300	−170	−327	−375	−182
Effect of exchange rate changes on cash and cash equivalents	3	−3	−1	−625,000	−288,000
Net increase (decrease) in cash and cash equivalents and restricted cash	3	22	−97	−152	84
Interest paid, net of amounts capitalized	90	95	92	64	72
Income taxes paid, net	7	5	4	2	2
Property and equipment received but not paid for yet	11	13	7	6	8
Capitalized stock-based compensation	6	5	7	5	3

Filings

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