Iridium Earnings Reports

Iridium reported strong Q4 revenue growth of 9% YoY, driven by a 5% increase in commercial service revenue and a 20% rise in engineering & support services. Net income declined due to higher interest expenses, but the company maintained solid profitability.

Iridium Communications Inc. reported a record third-quarter total revenue of $212.8 million, driven by an 8% increase compared to the previous year, with growth in commercial service revenue and government engineering revenue. Net income was $24.4 million, or $0.21 per diluted share, compared to a net loss of $1.6 million, or $0.01 per diluted share, for the third quarter of 2023. The company ended the quarter with 2,482,000 total billable subscribers, an 11% year-over-year increase.

Iridium Communications Inc. reported strong second-quarter results with a 4% increase in total revenue to $201.1 million. Net income was $32.3 million, a significant improvement from the previous year's net loss. The company saw growth in commercial IoT data and voice and data services, as well as higher government engineering revenue. Iridium reiterated its full-year 2024 outlook and continues to focus on returning capital to shareholders.

Iridium Communications Inc. reported a 1% decrease in total revenue, but a 7% increase in service revenue for Q1 2024. Net income increased to $19.7 million, or $0.16 per diluted share. The company completed the acquisition of Satelles, Inc. on April 1st, expanding its capabilities in satellite-based time and location services.

Iridium Communications Inc. reported a net income of $38.0 million for Q4 2023, compared to a net loss in Q4 2022. Total revenue was $194.7 million, with service revenue increasing by 8%. The company ended the quarter with 2,279,000 total billable subscribers, a 14% year-over-year increase.

Iridium Communications Inc. reported third-quarter 2023 financial results with a net loss of $1.6 million, or $0.01 per diluted share. However, the company achieved a record operational EBITDA of $121.3 million, a 12% increase year-over-year. Total revenue increased by 7% to $197.6 million, driven by strong growth in commercial service lines and an increase in engineering and support revenue.

Iridium Communications Inc. reported a net loss of $30.7 million for Q2 2023, compared to a net income of $4.6 million in Q2 2022. However, the company achieved a record operational EBITDA of $115.8 million, a 9% increase year-over-year. Total revenue increased by 10% to $193.1 million, driven by growth in commercial service lines and engineering and support revenue.

Iridium Communications Inc. reported a strong start to 2023, with a 22% increase in total revenue to $205.3 million. Net income rose to $9.8 million, or $0.08 per diluted share. The company saw growth across all business areas, driven by a 15% increase in total billable subscribers, particularly in commercial IoT.

Iridium Communications Inc. reported a net loss of $0.8 million for Q4 2022, compared to a net loss of $5.9 million for the same period in 2021. Total revenue increased by 24% to $193.8 million, with service revenue growing by 8% to $136.8 million. The company ended the quarter with 1,999,000 total billable subscribers, a 16% increase year-over-year.

Iridium Communications Inc. reported a net income of $2.1 million for Q3 2022, a notable shift from the $2.1 million net loss in Q3 2021. This improvement was largely driven by broad-based growth in total revenue. Total revenue reached $184.1 million, with service revenue accounting for $139.0 million and equipment sales and engineering support contributing $45.1 million. The company's Operational EBITDA also saw an 8% increase, reaching a record $107.8 million.

Iridium Communications Inc. reported a strong second quarter in 2022, with a 17% increase in total revenue and a 10% increase in service revenue compared to the prior-year period. Net income rose to $4.6 million, or $0.04 per diluted share, driven by broad-based revenue growth. The company ended the quarter with 1,875,000 total billable subscribers, reflecting a 16% year-over-year increase primarily due to growth in commercial IoT.

Iridium Communications Inc. reported a strong first quarter in 2022, with a 15% increase in total revenue to $168.2 million. Net income was $2.8 million, or $0.02 per diluted share, compared to a net loss of $5.2 million in the prior year period. The company reiterated its full-year 2022 outlook.

Iridium Communications Inc. reported a net loss of $5.9 million for Q4 2021, an improvement from the previous year. Total revenue increased by 6% to $155.9 million, driven by an 8% growth in service revenue. The company ended the quarter with 1,723,000 total billable subscribers, a 17% year-over-year increase.

Iridium Communications Inc. reported a strong third quarter in 2021, with a 7% increase in total revenue to $162.2 million and a record-breaking Operational EBITDA of $100.2 million. The company raised its full-year guidance for 2021, expecting total service revenue growth of between 5% and 6% and operational EBITDA of approximately $375 million.

Iridium Communications Inc. reported a net income of $3.8 million for the second quarter of 2021, a significant improvement compared to the net loss of $12.4 million in the same period last year. Total revenue increased by 7% to $149.9 million, with service revenue reaching $121.3 million, also up 7% year-over-year. The company's subscriber base grew to 1,616,000, driven by strong demand for IoT and broadband services. Iridium raised its full-year outlook for service revenue growth to between 4% and 5%.

Iridium Communications Inc. reported first-quarter 2021 results with a total revenue of $146.5 million, a 1% increase from the previous year. The company's subscriber base grew by 14% year-over-year, driven by commercial and government IoT customers. Iridium also commenced a share buyback program, retiring 1.6 million shares during the quarter.

Iridium Communications Inc. reported a net loss of $7.9 million for Q4 2020, an improvement compared to the $107.9 million net loss in Q4 2019. Total revenue for the quarter was $146.5 million, a 5% increase year-over-year, with service revenue growing by 3% to $116.9 million. The company ended the quarter with 1,476,000 total billable subscribers, a 14% increase year-over-year.

Iridium Communications Inc. reported financial results for the third quarter of 2020, featuring a net loss of $4.0 million, total revenue of $151.5 million, and a record 67,000 net subscriber additions. The company also updated its full-year 2020 outlook, raising guidance for operational EBITDA to approximately $355 million.

Iridium Communications Inc. reported a total revenue of $140.2 million for the second quarter of 2020, a decrease of 2% compared to the previous year. Service revenue grew by 2% to $113.4 million, while equipment sales and engineering support revenue amounted to $26.8 million. The company ended the quarter with 1,362,000 total billable subscribers, a 12% increase year-over-year.

Iridium Communications Inc. reported a net loss of $31.7 million, or $0.24 per diluted share, for the first quarter of 2020. Total revenue increased 9% to $145.3 million, with service revenue growing 8% to $116.0 million. The company ended the quarter with 1,332,000 total billable subscribers, a 16% increase year-over-year.

Iridium Communications Inc. reported a 5% increase in total revenue for Q4 2019, reaching $138.9 million. Service revenue grew by 6% to $113.6 million, driven by growth in commercial IoT and government business. The company ended the quarter with 1,300,000 total billable subscribers, a 16% year-over-year increase.