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Sep 30, 2021
Iridium Q3 2021 Earnings Report
Iridium reported strong subscriber growth and increased revenue across all segments in Q3 2021.
Key Takeaways
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.
Total revenue increased by 7% compared to the same period in 2020, reaching $162.2 million.
Service revenue grew by 9% year-over-year, amounting to $127.8 million and representing 79% of total revenue.
The company ended the quarter with 1,690,000 total billable subscribers, an 18% increase year-over-year.
Commercial service revenue increased by 11% to $101.9 million, driven by growth in IoT, voice and data, and broadband services.
Revenue by Segment
Forward Guidance
Iridium is raising its full-year guidance for 2021. The company now expects total service revenue growth of between 5% and 6% and operational EBITDA of approximately $375 million this year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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