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Jun 30, 2020
Iridium Q2 2020 Earnings Report
Iridium reported second-quarter results and updated its full-year outlook.
Key Takeaways
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.
Total revenue decreased 2% year-over-year, while service revenue grew by 2%.
Commercial service revenue increased by 2% year-over-year.
Government service revenue increased by 2% year-over-year.
Total billable subscribers increased by 12% year-over-year, driven by growth in commercial and government IoT customers.
Revenue by Segment
Forward Guidance
The Company refined its full-year 2020 outlook for total service revenue growth and OEBITDA. The Company now expects total service revenue growth between 1% and 2% for full-year 2020 and full-year 2020 OEBITDA of approximately $340 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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