Every 10-Q that Iridium Communications Inc. (IRDM) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow IRDM and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full IRDM filings page.
Iridium Communications reported Q2 2026 revenue of $225,237 (in thousands), up 4% year over year, driven by higher IoT, voice and government services. Operating income fell to $34,008 (in thousands) and net income to $9,679 (in thousands) as selling, general and administrative expenses rose 50% on Rocket Lab merger and Aireon acquisition transaction costs and higher professional fees.
For the first six months of 2026, revenue was $444,294 (in thousands), up 3%, while net income declined to $31,273 (in thousands) from $52,380 (in thousands), reflecting higher operating, R&D and transaction expenses despite lower interest costs. Cash and cash equivalents increased to $184,214 (in thousands), and borrowings under the Term Loan were $1,774.7 million.
Strategically, Iridium closed the July 2026 acquisition of the remaining 60.5% of Aireon Holdings for approximately $366.7 million, funded 50% in cash (including a new $100.0 million Revolving Facility draw) and 50% via a $183.4 million one‑year seller loan, while consolidating $154.7 million of Aireon term loans. The company also agreed to be acquired by Rocket Lab, with each share to receive $27.00 in cash plus Rocket Lab stock under a variable Exchange Ratio, expected to close in mid‑2027 subject to approvals. Total billable subscribers reached approximately 2,627,000, up 6% year over year.
Iridium Communications reported Q1 2026 revenue of $219.1M, up slightly from $214.9M a year earlier, as higher services and government engineering work offset weaker equipment sales. Services revenue rose to $158.0M, led by IoT and voice and data, while engineering and support services reached $40.8M.
Net income declined to $21.6M from $30.4M as selling, general and administrative expenses increased and the tax rate moved higher, producing diluted EPS of $0.20 versus $0.27. The company generated $71.6M in operating cash flow, ended the quarter with $111.6M in cash and a Term Loan balance of about $1.8B, and paid a quarterly dividend of $0.15 per share. Total billable subscribers grew 5% year over year to approximately 2.56 million.
Iridium Communications Inc. reported stronger quarterly results for the period ended September 30, 2025. Total revenue was $226.9M, up 7% year over year, driven by services of $165.2M and a 31% rise in engineering and support services to $40.2M. Commercial IoT data grew to $46.7M on higher subscribers, while government services rose modestly as EMSS rates stepped up on September 15, 2025.
Operating income increased to $70.1M and net income reached $37.1M (EPS $0.35 diluted) versus $24.4M ($0.21) a year ago, aided by lower SG&A and steady interest expense. Year‑to‑date cash from operations was $291.5M, funding $185.0M of share repurchases and $46.9M of dividends. Cash stood at $88.5M; long‑term secured debt, net, was $1.81B. The company had 104,745,684 common shares outstanding as of October 16, 2025.
Iridium Communications (IRDM) Q2-25 10-Q highlights
Revenue rose 8% YoY to $216.9 m, led by IoT data +8% and a 62% jump in engineering & support from Space Development Agency work. Services (72% of total) inched up 2% to $155.6 m; government EMSS revenue was $26.8 m. Voice/data stayed flat while broadband slipped 6% as Certus is increasingly used as a back-up service.
Operating expenses grew 6%, but operating income improved 15% to $50.3 m (23% margin). Net income fell 32% to $22.0 m ($0.20 diluted EPS) because last year’s quarter contained a $17.7 m gain on equity investments; excluding that, core profit expanded.
For the first six months, cash from operations climbed 25% to $190.7 m; after $45.3 m of capex, free cash flow was roughly $145 m. Cash balances declined to $79.3 m as the company drew $50 m on its revolver and repurchased 4.9 m shares for $135 m. Long-term secured debt stands at $1.81 bn; leverage covenants remain in compliance.
Equity dropped to $473.6 m after buybacks, dividends ($31.2 m) and a $12.2 m hedge mark-to-market loss. A quarterly dividend increase to $0.15/sh was approved for payment on 30 Sep 2025. $295 m remains under the $1.5 bn repurchase authorization.
Outlook: management expects recently announced service-price increases to boost voice/data revenue in H2-25 and sees continuing growth from PNT and SDA contracts.