Iridium Communications Inc. IRDM

Communication services SIC 4899 - Communications Services, NEC NAICS Information › Telecommunications › All Other Telecommunications derived Nasdaq

Iridium Communications Inc. ("we," "us," or "Iridium") is a leading provider of global voice, data, and positioning, navigation and timing (PNT) satellite services. We are the only commercial provider of communications services offering true global coverage, connecting people, organizations and assets to and from anywhere, in real time. Our low-Earth orbit (LEO), L-band network provides specialized, reliable, weather-resilient communications services to regions of the world where terrestrial wireless or wireline networks do not exist or are limited, including remote land areas, open ocean, airways, the polar regions, and regions where the telecommunications infrastructure has been affected by political conflicts or natural disasters. In addition, our satellites have additional payloads to host specific additional services for other customers like Aireon LLC. We also utilize our long history operating a commercial LEO satellite system to provide a growing array of engineering and operational services to government customers and government network operators such as the U.S. Space Force.

Last close 44.40 2026-10-23
Market cap $4.70B 2026-06-30 share count
52-week range 15.64 - 57.18

Valuation FY2025 figures against the last close

P/S5.4x
P/E41.9x
P/FCF15.7x
EV/EBITDA14.3x
Dividend yield1.3%
Diluted EPS1.06

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Other countries
  • Canada
Revenue by geography, 3 categories over 3 years. The same figures are in the table below. FY2025 United States, FY2025: 479M (55.0%) 55% United States Other countries, FY2025: 308.5M (35.4%) 35% Other countries Canada, FY2025: 84.1M (9.6%) 10% Canada FY2024 United States, FY2024: 438M (52.7%) 53% Other countries, FY2024: 304.3M (36.6%) 37% Canada, FY2024: 88.4M (10.6%) 11% FY2023 United States, FY2023: 431.5M (54.6%) 55% Other countries, FY2023: 293.5M (37.1%) 37% Canada, FY2023: 65.8M (8.3%) 8%
Region FY2025FY2024FY2023
United States $479.0M $438.0M $431.5M
Other countries $308.5M $304.3M $293.5M
Canada $84.1M $88.4M $65.8M

As the company reported it, from the “Segments, Significant Customers, Supplier and Service Providers and Geographic Information Revenue By Geographic (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $871.7M$830.7M$790.7M$721.0M$614.5M$583.4M$560.4M$18.4M$21.2M$24.6M
Cost of revenue ————————$44.4M$44.3M
Gross profit ————————-$23.3M-$19.7M
R&D $19.8M$28.4M$20.3M$16.2M$11.9M$12.0M$14.3M$22.4M$15.2M$16.1M
SG&A $157.7M$168.2M$143.7M$123.5M$100.5M$90.1M$93.2M$97.8M$84.4M$82.6M
Total operating expenses $635.7M$630.3M$709.1M$644.4M$568.2M$548.0M$550.3M$481.4M$346.8M$257.3M
Operating income $236.0M$200.4M$81.6M$76.7M$46.3M$35.5M$10.1M$41.7M$115.5M$176.4M
Interest expense $14.7M$91.1M$90.4M$65.1M$73.9M$94.3M$115.4M$55.1M$4.3M$2.9M
Pre-tax income $144.8M$109.8M-$4.7M$10.5M-$28.9M-$89.0M-$218.1M-$20.6M$119.6M$178.2M
Income tax $27.6M$12.3M$26.3M$292.0K$19.6M$32.9M$56.1M$7.3M$114.3M$67.1M
Net income $114.4M$112.8M$15.4M$8.7M-$9.3M-$56.1M-$162.0M-$13.4M$233.9M$111.0M
EPS, basic 1.070.950.120.07-0.07-0.42-1.33-0.222.231.00
EPS, diluted 1.060.940.120.07-0.07-0.42-1.33-0.221.820.89
Shares, diluted (wtd. avg.) 107.8M119.8M127.2M130.1M133.5M133.5M125.2M109.0M128.1M124.9M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $96.5M$93.5M$71.9M$168.8M$320.9M$237.2M$223.6M$465.3M$388.3M$484.3M
Receivables $93.8M$98.8M$91.7M$82.3M$63.4M$61.2M$68.7M$71.2M$68.0M$57.4M
Inventory $73.8M$81.3M$91.1M$39.8M$29.0M$32.5M$39.9M$27.5M$20.1M$18.2M
Total current assets $276.5M$292.7M$271.1M$306.2M$424.4M$347.8M$342.9M$390.4M$411.1M$516.8M
Property, plant and equipment $1.98B$2.08B$2.20B$2.43B$2.66B$2.92B$3.18B$3.37B$3.21B$2.81B
Goodwill $98.9M$98.2M$0—————$0$0
Other intangibles $86.9M$90.9M$41.1M$42.6M$44.0M$45.5M$47.0M$48.5M$50.0M$45.8M
Total assets $2.53B$2.67B$2.66B$2.95B$3.18B$3.36B$3.62B$4.01B$3.78B$3.50B
Accounts payable $17.7M$19.7M$28.7M$21.4M$16.2M$14.4M$6.7M$12.9M$43.1M$11.1M
Short-term debt $3.4M$33.1M$15.0M$16.5M$16.5M$16.8M$10.9M$126.0M$85.5M—
Total current liabilities $111.7M$169.2M$131.6M$141.6M$108.8M$113.1M$113.8M$262.7M$214.2M$83.2M
Long-term debt $1.76B$1.76B$1.47B$1.47B$1.58B$1.60B$1.77B$1.83B$1.62B$1.80B
Total liabilities $2.07B$2.09B$1.77B$1.83B$1.89B$1.94B$2.16B$2.41B$2.19B$2.16B
Retained earnings -$418.6M-$406.1M-$235.4M-$47.7M$140.8M$275.9M$332.0M$501.7M$518.8M$288.8M
Total equity $462.6M$576.6M$888.1M$1.13B$1.29B$1.42B$1.46B$1.60B$1.60B$1.34B

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $400.1M$376.0M$314.9M$344.7M$302.9M$249.8M$198.1M$263.7M$259.6M$225.2M
Depreciation and amortisation $210.2M$203.1M$320.0M$303.5M$305.4M$303.2M$297.7M$218.2M$122.3M$49.4M
Stock-based compensation $51.6M$63.5M$57.5M$43.7M$26.8M$16.7M$15.1M$14.5M$16.0M$13.7M
Capital expenditure $100.3M$69.9M$73.5M$71.3M$42.1M$38.7M$117.8M$391.4M$400.1M$405.7M
Investing cash flow -$100.3M-$180.6M-$83.5M-$121.3M-$36.4M-$46.5M-$127.8M-$378.9M-$372.7M-$242.4M
Financing cash flow -$299.9M-$170.5M-$327.1M-$375.0M-$182.5M-$188.2M-$313.3M$193.5M$16.9M$224.2M
Dividends paid $62.9M$64.7M$64.8M$0$0—————
Buybacks $186.5M$407.7M$247.0M$257.1M$163.4M$0$0———

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001418819-26-000009.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -500M 0 500M 1B Revenue, FY2016: 24.6M Gross profit, FY2016: -19.7M Net income, FY2016: 111M Revenue, FY2017: 21.2M Gross profit, FY2017: -23.3M Net income, FY2017: 233.9M Revenue, FY2018: 18.4M Net income, FY2018: -13.4M Revenue, FY2019: 560.4M Net income, FY2019: -162M Revenue, FY2020: 583.4M Net income, FY2020: -56.1M Revenue, FY2021: 614.5M Net income, FY2021: -9.3M Revenue, FY2022: 721M Net income, FY2022: 8.7M Revenue, FY2023: 790.7M Net income, FY2023: 15.4M Revenue, FY2024: 830.7M Net income, FY2024: 112.8M Revenue, FY2025: 871.7M Net income, FY2025: 114.4M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $24.6M $21.2M $18.4M $560.4M $583.4M $614.5M $721.0M $790.7M $830.7M $871.7M
Gross profit -$19.7M -$23.3M — — — — — — — —
Net income $111.0M $233.9M -$13.4M -$162.0M -$56.1M -$9.3M $8.7M $15.4M $112.8M $114.4M

Recent filings and events

  • Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Item 7.01
  • Material agreement signed Item 1.01
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Regulation FD disclosure Item 7.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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