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Mar 31, 2025
Iridium Q1 2025 Earnings Report
Estimated Revenue:$208M
+5.5% YoY
Estimated EPS:$0.28
+82.1% 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
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
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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