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 ...

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 March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-33963 Iridium Communications Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) DE 26-1344 ...

Financial Data and Key Metrics Changes - In 2022, the company achieved a 17% top-line growth, resulting in $280 million in pro forma free cash flow [24][32] - Operational EBITDA rose 12% in 2022, with Q4 operational EBITDA increasing 15% year-over-year to $107 million [24][41] - Total revenue for Q4 grew 24% year-over-year to $194 million, with service revenue of $110.3 million, up 10% from the previous year [41][12] Business Line Data and Key Metrics Changes - Revenue from commercial voice and data increased by 10% year-over-year, driven by an 18% growth in commercial subscribers, with IoT representing 78% of the total [13][14] - Broadband segment revenue reached $13.9 million in Q4, up 22% from the previous year, reflecting strong demand for Iridium Certus terminals [25] - Government service revenue remained stable at $26.5 million in Q4, with expectations for $106 million in full-year revenue for 2023 [16][56] Market Data and Key Metrics Changes - The company reported a 21% increase in personal satellite communications subscribers year-over-year, adding over 250,000 net new IoT subscribers in 2022 [55] - The partner base is enthusiastic about market opportunities, contributing to a competitive moat that supports continued innovation [18] - The Snapdragon Satellite platform is expected to create significant new revenue opportunities, with an estimated 80 million to 100 million high-end processors produced annually by Qualcomm [19][20] Company Strategy and Development Direction - The company focuses on technology innovation, expanding partnerships, and enhancing customer experiences to unlock new business growth [7][22] - A new partnership with Qualcomm aims to deliver satellite-to-smartphone connectivity, broadening the company's market reach [19] - The company plans to invest in capital expenditures to support new services while maintaining a sustainable dividend program [39][92] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about growth despite rising interest rates and inflation, forecasting service revenue growth between 9% and 11% for 2023 [34][90] - The company expects continued strength in voice, IoT, and broadband services, with double-digit subscriber growth anticipated [38][26] - Management highlighted the importance of recurring revenue and the resilience of their business model in various economic conditions [35][57] Other Important Information - The company initiated a quarterly dividend program in December 2022, reflecting confidence in its business opportunities and strong free cash flow generation [39][91] - As of December 31, 2022, the company had a cash balance of approximately $169 million, sufficient to fund operations and support the dividend program [87] - The company expects capital expenditures of about $75 million in 2023, including costs related to satellite launches and network efficiency improvements [109] Q&A Session Summary Question: What are the barriers to the Snapdragon Satellite service being available on Tier 2 Android phones? - Management indicated that there are not many barriers to entry for mid-tier phones adopting the service, primarily dependent on OEM manufacturers' interest [70] Question: Is the growth in the equipment line due to increased demand or just refreshing existing customer base? - Management confirmed that the growth is due to increased demand across various product lines, not merely refreshing existing inventories [74][75] Question: How does the company view the competitive landscape within IoT? - Management believes the company is well-positioned in the premium IoT segment and is actively exploring partnerships without significant capital outlay for building its own network [128]

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, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For th ...

14TH ANNUAL SOUTHWEST IDEAS INVESTOR CONFERENCE NOVEMBER 16, 2022 ``·: · iridium FORWARD LOOKING STATEMENTS Safe Harbor Statement This presentation contains statements about future events and expectations known as "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Iridium Communications Inc. ("Iridium" or the "Company") has based these stateme ...