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Mar 31
Iridium Q1 2025 Earnings Report
Expected Revenue:$212M
+9.3% YoY
Expected EPS:$0.28
+86.7% YoY
Key Takeaways
Iridium posted revenue of $214.9 million and net income of $30.4 million for Q1 2025, showing strength in commercial services and engineering support, despite equipment sales and subscriber softness.
Total revenue grew 5% YoY to $214,878,000
Net income increased to $30,412,000 from $19,653,000 in Q1 2024
Engineering and support services rose 23% YoY
Commercial IoT revenue grew 11% to $43,856,000
Iridium
Iridium
Iridium Revenue by Segment
Forward Guidance
Iridium reaffirmed its FY2025 outlook with expectations of steady service revenue and EBITDA growth, while noting potential tariff impacts on equipment margins.
Positive Outlook
- Service revenue expected to grow 5% to 7% in FY2025
- OEBITDA guidance of $490M to $500M
- Engineering and support services expected to increase YoY
- Cash taxes expected under $10M through 2026
- Dividend increase planned for Q3 2025
Challenges Ahead
- Equipment margins may be impacted by new tariffs
- Government subscriber base declined 8% YoY
- Broadband revenue declined 6% YoY
- Overall net subscriber loss of 16,000 in Q1 2025
- Commercial broadband ARPU declined from $274 to $261