Iridium Communications Inc. (IRDM) Financials

EPS

Hollow marker is the consensus estimate; filled is the reported figure, colored by beat or miss.

Revenue

Outlined bar is the consensus estimate; solid is reported.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
Q2 26	$0.3	$0.19	-36.7%	—	$225.2M	—
Q1 26	$0.28	$0.2	-28.6%	—	$219.1M	—
Q3 25	$0.25	$0.35	+40.0%	—	$226.9M	—
Q2 25	$0.24	$0.2	-16.7%	—	$216.9M	—
Q1 25	$0.28	$0.27	-3.6%	—	$214.9M	—
Q4 24	$0.22	$0.32	+45.5%	—	$213M	—
Q3 24	$0.21	$0.22	+4.8%	—	$212.8M	—
Q2 24	$0.23	$0.16	-30.4%	—	$201.1M	—
Q1 24	$0.19	$0.17	-10.5%	—	$203.9M	—
Q4 23	$0.09	$0.31	+244.4%	—	$194.7M	—
Q3 23	$0.03	-$0.01	-133.3%	—	$197.6M	—
Q2 23	$0.04	-$0.23	-675.0%	—	$193.1M	—
Q1 23	$0.01	$0.08	+700.0%	—	$205.3M	—
Q4 22	—	$0.01	—	—	$193.8M	—
Q3 22	$0.01	$0.02	+100.0%	—	$184.1M	—
Q2 22	—	$0.04	—	—	$174.9M	—

EPS

Reported per-share earnings by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Revenue

Reported revenue by fiscal year; the line turns dotted where reported figures end and the analyst consensus begins, with the shaded band marking the low–high range.

Results

Periods without a consensus estimate or a reported figure show a dash.

Period	EPS estimate	EPS actual	EPS surprise %	Revenue estimate	Revenue actual	Revenue surprise %
FY25	—	$1.09	—	—	$871.7M	—
FY24	—	$1.02	—	—	$830.7M	—
FY23	—	$0.13	—	—	$790.7M	—
FY22	—	$0.07	—	—	$721M

Total revenue

Reported revenue per period; the line is the change from the same period a year earlier, on its own left axis.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	$433.6M	$448M	$523M	$560.4M	$583.4M	$614.5M	$721M	$790.7M	$830.7M	$871.7M
YoY change	+5.41%	+3.32%	+16.7%	+7.16%	+4.1%	+5.32%	+17.3%	+9.67%	+5.05%	+4.93%

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Revenue	433.6M	448M	523M	560.4M	583.4M	614.5M	721M	790.7M	830.7M	871.7M
Cost of revenue	109.2M	124.8M	142.9M	145.1M	142.7M	150.4M	201.1M	225.1M	230.6M	248M
Gross profit	324.4M	323.2M	380.1M	415.3M	440.7M	464.1M	519.9M	565.6M	600.1M	623.7M
Gross margin	74.8%	72.1%	72.7%	74.1%	75.5%	75.5%	72.1%	71.5%	72.2%	71.5%
Research & development	16.1M	15.2M	22.4M	14.3M	12M	11.9M	16.2M	20.3M	28.4M	19.8M
Selling, general & administrative	82.6M	84.4M	97.8M	93.2M	90.1M	100.5M	123.5M	143.7M	168.2M	157.7M
Operating expenses	98.6M	85.5M	120.3M	107.5M	102.1M	112.4M	139.7M	164M	196.6M	177.5M
Operating income	176.4M	115.5M	41.7M	10.1M	35.5M	46.3M	76.7M	81.6M	200.4M	236M
Operating margin	40.7%	25.8%	7.96%	1.81%	6.08%	7.54%	10.6%	10.3%	24.1%	27.1%
Non-operating income, net	-1.1M	-232K	-7.2M	-112.8M	-30.2M	-1.3M	-1.1M	4M	534K	-2.9M
Pretax income	178.2M	119.6M	-20.6M	-218.1M	-89M	-28.9M	10.5M	-4.7M	109.8M	144.8M
Income tax	67.1M	-114.3M	-7.3M	-56.1M	-32.9M	-19.6M	292K	-26.3M	12.3M	27.6M
Net income	111M	233.9M	-13.4M	-162M	-56.1M	-9.3M	8.7M	15.4M	112.8M	114.4M
Net margin	25.6%	52.2%	-2.56%	-28.9%	-9.61%	-1.52%	1.21%	1.95%	13.6%	13.1%
EBITDA	225.8M	237.7M	260M	306.7M	338.7M	351.3M	380.3M	405.6M	404M	443.3M
EPS	1	2.22	-0.21	-1.26	-0.42	-0.07	0.07	0.13	1.02	1.09
Diluted EPS	1	2.22	-0.21	-1.26	-0.42	-0.07	0.07	0.12	0.94	1.06

Revenue and profits

Revenue, gross profit, operating income, and net income per period.

Condensed income statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	197.6M	194.7M	203.9M	201.1M	212.8M	213M	214.9M	216.9M	226.9M	212.9M	219.1M	225.2M
Cost of revenue	54.2M	55.6M	60.3M	53.4M	56.6M	60.2M	61.7M	64.9M	63.4M	58M	62.6M	64.8M
Gross profit	143.4M	139.1M	143.5M	147.7M	156.2M	152.8M	153.2M	152M	163.5M	154.9M	156.4M	160.4M
Gross margin	72.6%	71.4%	70.4%	73.4%	73.4%	71.7%	71.3%	70.1%	72.1%	72.8%	71.4%	71.2%
Research & development	5M	5.7M	7.2M	6.5M	6.2M	8.5M	5.4M	4.3M	4.9M	5.1M	6.2M	5.5M
Selling, general & administrative	33.4M	34.3M	36.8M	46.7M	44M	40.7M	35.8M	44.6M	35.5M	41.8M	45.8M	67M
Operating expenses	38.4M	40M	44M	53.2M	50.1M	49.2M	41.2M	48.9M	40.5M	46.9M	52M	72.6M
Operating income	28.2M	46.3M	49.8M	43.6M	54.9M	52.1M	60.4M	50.3M	70.1M	55.2M	50.7M	34M
Operating margin	14.2%	23.8%	24.4%	21.7%	25.8%	24.5%	28.1%	23.2%	30.9%	25.9%	23.2%	15.1%
Non-operating income, net	343K	3M	43K	-646K	312K	825K	-1.7M	-871K	372K	-731K	-194K	-448K
Pretax income	-6.2M	30.2M	29.2M	19.2M	30.9M	30.5M	36.9M	26.6M	47.9M	33.4M	31.2M	14.3M
Income tax	-6M	-9.6M	7.9M	4.6M	6M	-6.2M	5.8M	3.8M	10M	8M	8.8M	3.1M
Net income	-1.6M	38M	19.7M	32.3M	24.4M	36.3M	30.4M	22M	37.1M	24.9M	21.6M	9.7M
Net margin	-0.83%	19.5%	9.64%	16.1%	11.5%	17.1%	14.2%	10.1%	16.4%	11.7%	9.86%	4.3%
EBITDA	105.3M	102.1M	99.6M	93.8M	106.3M	104.4M	110.4M	102.2M	123.4M	107.2M	104.3M	87.4M
EPS	-0.01	0.31	0.16	0.27	0.21	0.33	0.28	0.2	0.35	0.24	0.2	0.09
Diluted EPS	-0.01	0.3	0.16	0.27	0.21	0.32	0.27	0.2	0.35	0.24	0.2	0.09

P/E

Annual history by fiscal year; click a table row below to chart a different metric.

Current values are trailing twelve months where available, otherwise the latest fiscal year; unreported figures show a dash.

Key stats

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Market cap	920.4M	1.2B	—	—	5.3B	5.4B	6.5B	5.1B	—	1.8B	5.1B
Enterprise value	2.2B	2.6B	—	—	6.6B	6.7B	7.8B	6.5B	—	3.5B	6.8B
Shares outstanding	95.9M	98.2M	112.2M	131.6M	133.5M	131.3M	125.9M	122.8M	110.4M	104.9M	104.9M

Valuation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
P/E	8.29	4.96	—	—	—	—	742	327.8	—	15.9	55.6
P/S	2.12	2.59	—	—	9	8.83	8.98	6.39	—	2.09	5.79
P/B	0.68	0.73	—	—	3.7	4.21	5.73	5.69	—	3.94	10.8
EV/EBITDA	9.6	10.8	—	—	19.5	19.1	20.5	15.9	—	7.87	16
EV/Sales	5	5.72	—	—	11.3	10.9	10.8	8.17	—	4	7.66
Earnings yield	12.1%	20.2%	—	—	—	—	0.13%	0.31%	—	6.27%	1.8%
FCF yield	-19.6%	-12.1%	—	—	4.02%	4.81%	4.23%	4.78%	—	16.4%	4.67%
PEG	—	—	—	—	—	—	—	—	—	—	-1.01

Profitability

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Gross margin	74.8%	72.1%	72.7%	74.1%	75.5%	75.5%	72.1%	71.5%	72.2%	71.5%	71.2%
Operating margin	40.7%	25.8%	7.96%	1.81%	6.08%	7.54%	10.6%	10.3%	24.1%	27.1%	15.1%
Net margin	25.6%	52.2%	-2.56%	-28.9%	-9.61%	-1.52%	1.21%	1.95%	13.6%	13.1%	10.5%
ROE	8.26%	14.6%	-0.84%	-11.1%	-3.95%	-0.72%	0.77%	1.74%	19.6%	24.7%	19.7%
ROA	3.17%	6.18%	-0.33%	-4.47%	-1.67%	-0.29%	0.3%	0.58%	4.22%	4.52%	5.11%
ROIC	4.24%	3.85%	1.27%	0.34%	1.27%	1.81%	3.05%	3.55%	7.83%	8.98%	7.83%
Return on tangible assets	3.26%	6.35%	-0.34%	-4.59%	-1.71%	-0.3%	0.3%	0.6%	4.92%	5.3%	4.24%

Financial health

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Current ratio	6.21	1.92	1.49	3.01	3.08	3.9	2.16	2.06	1.73	2.48	2.78
Quick ratio	5.99	1.83	1.38	2.66	2.79	3.63	1.88	1.37	1.25	1.82	2.31
Debt / equity	1.23	1.07	1.22	1.22	1.14	1.24	1.32	1.67	3.11	3.81	3.79
Debt / assets	0.47	0.45	0.49	0.49	0.48	0.5	0.5	0.56	0.67	0.7	0.69
Net debt / EBITDA	5.52	5.91	6.47	5.06	4.04	3.64	3.47	3.48	4.2	3.75	3.74
Interest coverage	—	—	0.63	-0.89	0.06	0.61	1.16	0.95	2.2	2.64	2.54
Effective tax rate	37.7%	0%	0%	0%	0%	0%	2.78%	0%	11.2%	19.1%	23.6%

Per share

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Revenue per share	4.52	4.56	4.66	4.26	4.37	4.68	5.73	6.44	7.53	8.31	8.33
EPS (basic)	1	2.22	-0.21	-1.26	-0.42	-0.07	0.07	0.13	1.02	1.09	1.09
EPS (diluted)	1	2.22	-0.21	-1.26	-0.42	-0.07	0.07	0.12	0.94	1.06	0.87
Book value per share	14	16.3	14.3	11.1	10.6	9.81	8.96	7.23	5.23	4.41	4.46
FCF per share	-1.88	-1.43	-1.14	0.61	1.58	1.99	2.17	1.97	2.77	2.86	2.66
Cash per share	4.28	3.03	2.44	1.7	1.83	2.44	1.34	0.59	0.85	0.92	1.74
Capex per share	—	—	—	—	—	—	—	—	—	0.96	0.98

Capital allocation

Metric	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	Current
Capex / revenue	—	—	—	—	—	—	—	—	—	11.5%	12.1%
Capex / operating cash flow	—	—	—	—	—	—	—	—	—	25.1%	27%
Payout ratio	13.9%	1.65%	-115.3%	-5.18%	0%	0%	0%	420.2%	57.4%	55%	69%
Dividend yield	1.68%	0.33%	—	—	0%	0%	0%	1.28%	—	3.45%	1.24%

Yield

1.24%

trailing twelve months

Frequency

Quarterly

Last dividend

$0.15

ex-dividend Sep 15, 2026

Payout ratio

69%

of earnings

Dividend growth

2 years

consecutive annual raises

Dividend per share

Split-adjusted payout per share by ex-dividend date.

Recent payouts

Ex-dividend	Amount
Sep 15, 2026	$0.15
Jun 15, 2026	$0.15
Mar 16, 2026	$0.15
Dec 15, 2025	$0.15
Sep 15, 2025	$0.15
Jun 13, 2025	$0.14
Mar 17, 2025	$0.14
Dec 16, 2024	$0.14

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Revenue	$197.6M	$194.7M	$203.9M	$201.1M	$212.8M	$213M	$214.9M	$216.9M	$226.9M	$212.9M	$219.1M	$225.2M
YoY change	+7.36%	+0.47%	-0.69%	+4.12%	+7.68%	+9.37%	+5.41%	+7.88%	+6.66%	-0.02%	+1.94%	+3.84%

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Cash & short-term investments	410.5M	297.6M	273.4M	223.6M	244.7M	320.9M	168.8M	71.9M	93.5M	96.5M
Receivables	57.4M	68M	71.2M	68.7M	61.2M	63.4M	82.3M	91.7M	98.8M	93.8M
Inventory	18.2M	20.1M	27.5M	39.9M	32.5M	29M	39.8M	91.1M	81.3M	73.8M
Total current assets	516.8M	411.1M	390.4M	342.9M	347.8M	424.4M	306.2M	271.1M	292.7M	276.5M
Property, plant & equipment	2.8B	3.2B	3.3B	3.1B	2.9B	2.6B	2.4B	2.2B	2B	1.9B
Goodwill & intangibles	91.6M	100M	97.1M	94M	91M	88M	85.2M	82.2M	378.1M	371.7M
Total assets	3.5B	3.8B	4B	3.6B	3.4B	3.2B	3B	2.7B	2.7B	2.5B
Accounts payable	11.1M	43.1M	12.9M	6.7M	14.4M	16.2M	21.4M	28.7M	19.7M	17.7M
Short-term debt	—	85.5M	126M	10.9M	16.8M	16.5M	16.5M	15M	33.1M	3.4M
Total current liabilities	83.2M	214.2M	262.7M	113.8M	113.1M	108.8M	141.6M	131.6M	169.2M	111.7M
Long-term debt	1.7B	1.6B	1.8B	1.8B	1.6B	1.6B	1.5B	1.5B	1.8B	1.8B
Total liabilities	2.2B	2.2B	2.4B	2.2B	1.9B	1.9B	1.8B	1.8B	2.1B	2.1B
Shareholders' equity	1.3B	1.6B	1.6B	1.5B	1.4B	1.3B	1.1B	888.1M	576.6M	462.6M
Total debt	1.7B	1.7B	2B	1.8B	1.6B	1.6B	1.5B	1.5B	1.8B	1.8B
Net debt	1.3B	1.4B	1.7B	1.6B	1.4B	1.3B	1.3B	1.4B	1.7B	1.7B

Assets vs. liabilities & equity

What the company owns (left stack) against what it owes plus shareholders' equity (right stack). The two stacks should match — that's the balance.

Condensed balance sheet

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Cash & short-term investments	67.9M	71.9M	174M	63.5M	159.6M	93.5M	50.9M	79.3M	88.5M	96.5M	111.6M	184.2M
Receivables	100.7M	91.7M	93M	96.2M	96.5M	98.8M	105.4M	81M	94.5M	93.8M	104.4M	104.5M
Inventory	71.1M	91.1M	92.5M	85.8M	82.2M	81.3M	80.7M	77.4M	76.2M	73.8M	69.7M	63.5M
Total current assets	252.9M	271.1M	376.8M	264.4M	354.9M	292.7M	256.8M	255.4M	276M	276.5M	309.1M	377.1M
Property, plant & equipment	—	2.2B	—	—	—	2B	—	—	—	1.9B	—	—
Goodwill & intangibles	41.4M	82.2M	41M	391.9M	387.2M	378.1M	377.7M	375.7M	373.7M	371.7M	367.5M	363.2M
Total assets	2.7B	2.7B	2.7B	2.7B	2.8B	2.7B	2.6B	2.6B	2.6B	2.5B	2.5B	2.6B
Accounts payable	14.4M	28.7M	22.6M	15M	13.6M	19.7M	11.4M	11.6M	13.2M	17.7M	11.8M	11.5M
Short-term debt	11.3M	15M	16.3M	16.3M	18.3M	33.1M	28.6M	—	—	3.4M	8M	12.5M
Total current liabilities	119M	131.6M	113M	117.5M	135.3M	169.2M	129.3M	101.8M	103.2M	111.7M	108.4M	135.5M
Long-term debt	1.5B	1.5B	1.6B	1.6B	1.8B	1.8B	1.8B	1.8B	1.8B	1.8B	1.8B	1.7B
Total liabilities	1.8B	1.8B	1.9B	1.9B	2.1B	2.1B	2.1B	2.1B	2.1B	2.1B	2.1B	2.1B
Shareholders' equity	925M	888.1M	853.7M	786.7M	663.8M	576.6M	518.4M	473.6M	450.5M	462.6M	468.4M	472.5M
Total debt	1.5B	1.5B	1.6B	1.7B	1.8B	1.8B	1.8B	1.8B	1.8B	1.8B	1.8B	1.8B
Net debt	1.4B	1.4B	1.4B	1.6B	1.6B	1.7B	1.8B	1.7B	1.7B	1.7B	1.6B	1.6B

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Net income	111M	233.9M	-13.4M	-162M	-56.1M	-9.3M	8.7M	15.4M	112.8M	114.4M
Depreciation & amortization	49.4M	122.3M	218.2M	297.7M	303.2M	305.4M	303.5M	320M	203.1M	210.2M
Stock-based compensation	13.7M	16M	14.5M	15.1M	16.7M	26.8M	43.7M	57.5M	63.5M	51.6M
Change in working capital	7.5M	6.5M	-8.4M	-21.3M	-831K	-9.1M	-19.6M	-60.4M	-4.8M	-2.9M
Operating cash flow	245.4M	248.6M	212.9M	95.6M	234.1M	296.5M	340.3M	305.1M	384.4M	400.1M
Capital expenditure	—	—	—	—	—	—	—	—	—	-100.3M
Investing cash flow	163.3M	27.4M	12.5M	-10M	-7.8M	5.8M	-100M	-10M	-110.7M	-100.3M
Dividends paid	-15.4M	-3.9M	-15.4M	-8.4M	0	0	0	-64.8M	-64.7M	-62.9M
Share repurchases	—	—	—	0	0	-163.4M	-257.1M	-247M	-407.7M	-186.5M
Financing cash flow	223.6M	12.6M	181.1M	-326.8M	-200.9M	-189.9M	-378.9M	-331M	-173.9M	-301M
Net change in cash	632.4M	288.6M	406.5M	-241.2M	25.4M	112.4M	-138.5M	-35.9M	99.8M	-1.2M
Free cash flow	-180.5M	-140.5M	-127.7M	80.3M	211.1M	260.7M	273.5M	241.4M	306.1M	299.8M

Cash generation and uses

Cash from operations, what's left after capex, and what went back to shareholders. Bars below the line are cash going out.

Condensed cash flow statement

Click a row to chart it; unreported figures show a dash.

Period	Q3 23	Q4 23	Q1 24	Q2 24	Q3 24	Q4 24	Q1 25	Q2 25	Q3 25	Q4 25	Q1 26	Q2 26
Net income	-1.6M	38M	19.7M	32.3M	24.4M	36.3M	30.4M	22M	37.1M	24.9M	21.6M	9.7M
Depreciation & amortization	76.8M	52.8M	49.7M	50.8M	51.2M	51.4M	51.7M	52.8M	53M	52.7M	53.7M	53.9M
Stock-based compensation	15.9M	12M	14M	19.3M	17.7M	12.4M	11.7M	19.1M	13.2M	7.6M	11.4M	17.4M
Change in working capital	-34.6M	900K	-9.4M	-5M	7.2M	2.5M	-18.6M	25.8M	-16.4M	6.2M	-18.4M	8.3M
Operating cash flow	55.5M	89.2M	81.5M	101.7M	105.8M	95.3M	80.4M	123.1M	100.8M	108.6M	71.6M	114.1M
Capital expenditure	—	—	—	—	—	—	—	—	-21.5M	-33.5M	-30M	-21.8M
Investing cash flow	0	0	—	—	0	0	—	—	-21.5M	-33.5M	-30M	-21.8M
Dividends paid	-16.1M	-16M	-16.1M	-16.7M	-16.3M	-15.6M	-15.7M	-15.1M	-16.1M	-16M	-16.5M	-16.2M
Share repurchases	-75.4M	-51.9M	-57.2M	-97.6M	-129.8M	-123.1M	-70.5M	-65.6M	-50.4M	30K	0	0
Financing cash flow	-93.5M	-68.9M	43.4M	-68.9M	-3.6M	-144.9M	-81.8M	-81.6M	-70M	-67.5M	-26.4M	-21.1M
Net change in cash	-38M	20.3M	124.9M	32.8M	102.3M	-49.6M	-1.5M	41.5M	9.2M	7.6M	15.3M	71.2M
Free cash flow	59.1M	71.6M	56.9M	68.7M	100M	80.5M	36.5M	108.9M	79.2M	75.1M	41.7M	92.3M

Iridium Communications Inc. Financials

EPS

Revenue

Results

EPS

Revenue

Results

Total revenue

Total revenue

Revenue and profits

Condensed income statement

Revenue and profits

Condensed income statement

P/E

Key stats

Valuation

Profitability

Financial health

Per share

Capital allocation

Dividend per share

Recent payouts

Assets vs. liabilities & equity

Condensed balance sheet

Assets vs. liabilities & equity

Condensed balance sheet

Cash generation and uses

Condensed cash flow statement

Cash generation and uses

Condensed cash flow statement