Loading...
•
Dec 31, 2021
Iridium Q4 2021 Earnings Report
Iridium reported Q4 2021 earnings, with increased service revenue and subscriber growth.
Key Takeaways
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.
Net loss improved to $5.9 million, or $0.04 per diluted share.
Total revenue increased 6% year-over-year to $155.9 million.
Service revenue grew 8% year-over-year to $126.7 million.
Total billable subscribers increased 17% year-over-year to 1,723,000.
Iridium
Iridium
Iridium Revenue by Segment
Revenue by Segment
Commercial Voice & Data Revenue
CapyFin.comCommercial IoT Data Revenue
CapyFin.comHosted Payload & Other Revenue
CapyFin.comGovernment Services Revenue
CapyFin.comSubscriber Equipment Revenue
CapyFin.comEngineering & Support Revenue
CapyFin.com Forward Guidance
Iridium issued its full-year 2022 outlook, expecting total service revenue growth between 5% and 7% and OEBITDA between $400 million and $410 million.
Positive Outlook
- Total service revenue growth between 5% and 7% for full-year 2022.
- Full-year 2022 OEBITDA between $400 million and $410 million.
- Negligible cash taxes in 2022.
- Cash taxes are expected to be negligible through approximately 2024.
- Net leverage of approximately 3.0 times OEBITDA at the end of 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income