{"id":839843,"date":"2025-04-22T07:09:14","date_gmt":"2025-04-22T11:09:14","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/iridium-announces-first-quarter-2025-results\/"},"modified":"2025-04-22T07:09:14","modified_gmt":"2025-04-22T11:09:14","slug":"iridium-announces-first-quarter-2025-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/iridium-announces-first-quarter-2025-results\/","title":{"rendered":"Iridium Announces First Quarter 2025 Results"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n MCLEAN, Va.<\/span>
\n <\/span>, April 22, 2025<\/span><\/span> \/PRNewswire\/ — Iridium Communications Inc. (Nasdaq:IRDM) (“Iridium”), a leading provider of global voice and data satellite communications, today reported financial results for the first quarter of 2025 and reiterated its full-year 2025 outlook. Net income was $30.4 million<\/span>, or $0.27<\/span> per diluted share, for the first quarter of 2025, as compared to net income of $19.7 million<\/span>, or $0.16<\/span> per diluted share, for the first quarter of 2024. Operational EBITDA (“OEBITDA”)(1)<\/sup> for the first quarter was $122.1 million<\/span>, as compared to $115.0 million<\/span> for the prior-year period, representing a year-over-year increase of 6%.<\/p>\n

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\n \"Iridium
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Iridium reported first quarter total revenue of $214<\/span>.9\u00a0million, which consisted of $154<\/span>.3\u00a0million of service revenue and $60<\/span>.6\u00a0million of revenue related to equipment sales and engineering and support projects. Total revenue increased 5% versus the comparable period of 2024. Engineering and support revenue increased 23%. Service revenue, which represents primarily recurring revenue from Iridium’s growing subscriber base, grew 4% from the year-ago period and was 72% of total revenue for the first quarter of 2025.<\/p>\n

The Company ended the quarter with 2,443,000 total billable subscribers, which is up from 2,333,000 for the year-ago period and compares to 2,460,000 for the quarter ended December 31, 2024<\/span>. Total billable subscribers grew 5% year-over-year, led by growth in commercial IoT.<\/p>\n

“Demand for Iridium’s mission-critical applications continued to drive revenue growth and support share buybacks,” said Matt Desch<\/span>, CEO, Iridium. Desch added, “With new tariffs and U.S. trade policies still in flux, we expect to incur incremental equipment costs this year. Regardless, we continue to feel good about Iridium’s prospects for growth and ability to return capital to shareholders.”<\/p>\n

\n Iridium Business Highlights<\/b>\n <\/p>\n

\n Service \u2013 Commercial<\/b>\n <\/p>\n

Commercial service remained the largest part of Iridium’s business, representing 59% of the Company’s total revenue during the first quarter. The Company’s commercial customer base is diverse and includes markets such as maritime, aviation, oil and gas, mining, recreation, forestry, construction, transportation and emergency services. These customers rely on Iridium’s products and services as critical to their daily operations and integral to their communications and business infrastructure.<\/p>\n