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Iridium Communications Inc. provides mobile voice and data communications services and products to businesses, the United States and foreign governments, non-governmental organizations, and consumers in the United States, Canada, and internationally. The company offers mobile satellite communications services for land mobile end users and aviation sectors; broadband terminals, embedded devices, and handsets for merchant shipping, fishing, leisure and research vessels, and specialized watercraft; satellite-based IoT services; hosted payload and other data services; and other data services and engineering services. It also provides postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; Internet of Things (IoT); and satellite time and location services. In addition, the company offers personnel tracking devices; asset tracking devices for equipment, vehicles, and aircrafts; beyond-line-of-sight aircraft communications applications; maritime communications applications; specialized communications solutions for high-value individuals; and mobile communications and data devices for the military and other government agencies, such as secure satellite handsets; and maintenance services for the U.S. government's dedicated gateway. Further, it provides satellite handsets, voice and data modems, broadband data devices, and IoT data devices; and various accessories for its devices that include batteries, holsters, earbud headphones, portable auxiliary antennas, antenna adaptors, USB data cables, and charging units. The company sells its products and services to commercial end users through a wholesale distribution network that include service providers, and value-added resellers and value-added manufacturers. The company was formerly known as Iridium Holdings LLC and changed its name to Iridium Communications Inc. in September 2009. Iridium Communications Inc. is headquartered in McLean, Virginia.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $872M | $443M | $114M | $300M | 24.7% | 4.9% | 1.4% |
| 2024 | $831M | $404M | $113M | $306M | 19.6% | 5.1% | 631.6% |
| 2023 | $791M | $406M | $15M | $241M | 1.7% | 9.7% | 76.7% |
| 2022 | $721M | $379M | $9M | $273M | 0.8% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 721.03 | 790.72 | 830.68 | 871.66 |
| Operating Revenue | - | 721.03 | 790.72 | 830.68 | 871.66 |
| Cost Of Revenue | - | 201.15 | 225.12 | 230.57 | 248 |
| Gross Profit | - | 519.88 | 565.60 | 600.12 | 623.66 |
| Operating Expense | - | 443.21 | 483.98 | 399.73 | 387.68 |
| Research And Development | - | 16.22 | 20.27 | 28.42 | 19.76 |
| Selling General And Administration | - | 123.50 | 143.71 | 168.18 | 157.71 |
| Total Expenses | - | 644.36 | 709.10 | 630.30 | 635.68 |
| Operating Income | - | 76.68 | 81.63 | 200.38 | 235.98 |
| Total Operating Income As Reported | - | 76.68 | 81.63 | 200.38 | 235.98 |
| EBITDA | - | 379.08 | 405.64 | 404.04 | 443.27 |
| Normalized EBITDA | - | 380.27 | 405.64 | 404.04 | 443.27 |
| EBIT | - | 75.60 | 85.64 | 200.92 | 233.06 |
| Interest Expense | - | 65.09 | 90.39 | 91.13 | 88.25 |
| Net Interest Income | - | -65.09 | -90.39 | -91.13 | -88.25 |
| Other Non Operating Income Expenses | - | 0.11 | 4.01 | 0.53 | -2.92 |
| Other Income Expense | - | -1.08 | 4.01 | 0.53 | -2.92 |
| Interest Expense Non Operating | - | 65.09 | 90.39 | 91.13 | 88.25 |
| Net Non Operating Interest Income Expense | - | -65.09 | -90.39 | -91.13 | -88.25 |
| Pretax Income | - | 10.51 | -4.75 | 109.78 | 144.81 |
| Tax Provision | - | 0.29 | -26.25 | 12.26 | 27.62 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.03 | 0 | 0 | 0 |
| Net Income Continuous Operations | - | 8.72 | 15.42 | 112.78 | 114.37 |
| Net Income From Continuing And Discontinued Operation | - | 8.72 | 15.42 | 112.78 | 114.37 |
| Net Income From Continuing Operation Net Minority Interest | - | 8.72 | 15.42 | 112.78 | 114.37 |
| Net Income | - | 8.72 | 15.42 | 112.78 | 114.37 |
| Net Income Common Stockholders | - | 8.72 | 15.42 | 112.78 | 114.37 |
| Net Income Including Noncontrolling Interests | - | 8.72 | 15.42 | 112.78 | 114.37 |
| Normalized Income | - | 9.88 | 15.42 | 112.78 | 114.37 |
| Diluted NI Availto Com Stockholders | - | 8.72 | 15.42 | 112.78 | 114.37 |
| Basic Average Shares | - | 125.90 | 122.78 | 110.36 | 104.92 |
| Diluted Average Shares | - | 125.90 | 128.46 | 119.97 | 107.90 |
| Reconciled Depreciation | - | 303.48 | 320 | 203.13 | 210.21 |
| Reconciled Cost Of Revenue | - | 201.15 | 225.12 | 230.57 | 248 |
| Total Unusual Items | -0.88 | -1.19 | 0 | 0 | - |
| Total Unusual Items Excluding Goodwill | -0.88 | -1.19 | 0 | 0 | - |
| Earnings From Equity Interest Net Of Tax | - | -1.50 | -6.09 | 15.25 | -2.82 |
| Special Income Charges | -0.88 | -1.19 | 0 | 0 | - |
| Other Special Charges | 0.88 | 1.19 | - | - | - |
| Depreciation Amortization Depletion Income Statement | - | 303.48 | 320 | 203.13 | 210.21 |
| Depreciation And Amortization In Income Statement | - | 303.48 | 320 | 203.13 | 210.21 |
| Earnings From Equity Interest | 0 | -1.50 | - | - | - |
Communication Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Iridium Communications Inc.this co. | IRDM | $5.5B | 48.13↑ premium | 11.90 | 24.7% | 16.17 |
| Lumen Technologies, Inc. | LUMN | $10.2B | -5.87 | -9.13 | 155.7% | 20.43 |
| Madison Square Garden Sports Corp. | MSGS | $9.3B | -413.16 | -32.94 | 8.0% | 1357.01 |
| Versant Media Group, Inc. | VSNT | $5.7B | 6.12 | 0.55 | 9.0% | 2.94 |
| Sphere Entertainment Co. |
| - |
| - |
| - |
| - |
| - |
| - |
| SPHR |
| $5.1B |
| 152.34 |
| 2.28 |
| 1.5% |
| 11.94 |
| Telephone and Data Systems, Inc. | TDS | $4.5B | -724.07 | 1.21 | -0.2% | 9.31 |
| Cinemark Holdings, Inc. | CNK | $3.6B | 26.04 | 8.88 | 34.1% | 12.02 |
| IAC Inc. | IAC | $3.1B | -30.21 | 0.66 | -2.2% | 21.38 |
| John Wiley & Sons, Inc. | WLY | $2.3B | 26.88 | 3.01 | 11.2% | 8.95 |
| Peer Median | - | 0.13 | 0.94 | 8.5% | 11.98 | |