UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________________________________________________________________ FORM 10-K _____________________________________________________________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For th ...

MCLEAN, Va., Jan. 25, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, will host a conference call on Thursday, February 15, 2024 at 8:30 a.m. Eastern Time (ET) to discuss the Company's fourth-quarter 2023 financial results. In advance of the call on February 15, 2024, Iridium will issue its fourth-quarter 2023 earnings press release, which will be available on the investor relations page of the Company's websi ...

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Iridium Communications (IRDM) has unveiled Project Stardust, marking the evolution of its direct-to-device (D2D) strategy through the development of a 3GPP 5G standards-based Narrowband-Internet of Things (NB-IoT) Non-Terrestrial Network (NB-NTN) service.The solution will be integrated into Iridium's existing satellite network, which will position the company uniquely to deliver both proprietary and standardized D2D and IoT services globally. Iridium's low-Earth orbiting (LEO) satellites present a strategic ...

The company plans to upload NB-IoT NTN standards into its operational LEO constellationMCLEAN, Va., Jan. 10, 2024 /PRNewswire/ -- Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced Project Stardust, the evolution of its direct-to-device (D2D) strategy with 3GPP 5G standards-based Narrowband-Internet of Things (NB-IoT) Non-Terrestrial Network (NB-NTN) service development. As a new standards-based solution, it will be deployed on I ...

| --- | --- | --- | --- | |---------------------------------------|-------------------------|-------------------------|-------------------------| | ($ Millions, Except per Share) | 2021 Pro Forma Results | 2022 Pro Forma Results | 2023 Pro Forma Outlook | | Operational EBITDA (1) | $ 378 | $ 424 | $ 463 | | Hosted Payload Cash Timing (2) | ( $ 14) | ( $ 6) | ( $ 6) | | Working Capital (3) | ( $ 8) | ( $ 8) | ( $ 10) | | Iridium CapEx (4) | ( $ 45) | ( $ 68) | ( $ 75) | | Net Interest (5) | ( $ 66) | ( $ 62) ...

Financial Data and Key Metrics Changes - Operational EBITDA reached a record $121.3 million in Q3 2023, up 12% from the prior year, driven by strength across all commercial business lines and engineering and support revenue [15][39]. - Total revenue for the quarter was $197.6 million, reflecting a 7% increase from the previous year, attributed to growth in commercial business lines and engineering support revenues [39]. - Service revenue increased by 12% to $125.5 million, indicating broad-based growth [40]. Business Line Data and Key Metrics Changes - Commercial voice and data revenue grew by $5.9 million, or 12%, to $56.2 million, largely due to price changes implemented earlier in the year [16]. - Commercial IoT subscribers grew by 18% year-over-year, with 89,000 net new additions, representing 80% of billable commercial subscribers [17]. - Engineering and support revenue increased to $25.2 million from $17.1 million in the prior year, driven by work for the U.S. government related to the Space Development Agency contract [44]. Market Data and Key Metrics Changes - Government service revenue remained steady at $26.5 million, reflecting the terms of the EMSS Contract with the U.S. government [18]. - Commercial broadband revenue grew by 16% to $15.8 million, benefiting from the adoption of Iridium Certus as a standard in maritime services [42]. Company Strategy and Development Direction - The company aims to generate approximately $1 billion in annual service revenue by 2030 and expects to return about $3 billion to shareholders during this period [6]. - Iridium is focused on organic growth without the need for mergers or acquisitions, emphasizing the health of its network and revenue growth [7]. - The company is optimistic about its future, driven by strong execution and the addition of new partners and applications [8]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's financial stability despite broader economic uncertainties, highlighting a successful refinancing of Term Loan B that lowered interest rates and extended maturity [12]. - The company anticipates continued growth in service revenue, projecting approximately 10% growth for 2023 [20]. - Management acknowledged competitive challenges in the satellite industry but remains optimistic about Iridium's ability to grow revenues and subscribers [7]. Other Important Information - The company paid a quarterly dividend of $0.13 per share and expects to return approximately $65 million to common shareholders in 2023 [21]. - Net leverage decreased to 3.1 times OEBITDA, down from 3.4 times a year earlier, with expectations to reach about three times OEBITDA by the end of 2023 [22]. Q&A Session Summary Question: Update on directed device revenue expectations - Management expects $5 million to $10 million in directed device revenue for the full year, but specific quarterly figures were not available [28]. Question: Timing of recognizing royalty revenue from Qualcomm - Revenue recognition timing depends on when the chip is ordered, shipped, and enabled by the customer [29][52]. Question: Outlook for legacy voice and data business - Management believes there is still growth potential in the legacy voice and data business despite tough comparisons due to price increases [31]. Question: Changes in IoT customer composition - The composition of IoT customers does not change significantly quarter over quarter, with consistent demand across various partners [77]. Question: Drivers of SG&A increase - The increase in SG&A was driven by headcount growth and higher stock-based compensation expenses from 2022 [83].

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-33963 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2023 OR Iridium Communications Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) DE 26- ...

Iridium Communications, Inc. (NASDAQ:IRDM) Q2 2023 Earnings Conference Call July 25, 2023 8:30 AM ET Company Participants Kenneth Levy - Vice President of Investor Relations Matthew Desch - Chief Executive Officer Thomas Fitzpatrick - Chief Financial Officer and Chief Administrative Officer Conference Call Participants Ric Prentiss - Raymond James Chris Quilty - Quilty Analytics Hamed Khorsand - BWS Financial Mathieu Robilliard - Barclays Capital Louie DiPalma - William Blair Operator Good morning and welco ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Iridium Communications Inc. (Exact name of registrant as specified in its charter) WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-33963 (State or other jurisdiction of incorporation or organization) DE 26-13449 ...