Core Insights - NKT A/S reported a strong financial performance in Q2 2025, achieving 13% organic growth and a record operational EBITDA of EUR 105 million, reflecting the highest operational performance in the company's history [1][4] Financial Performance - Revenue for Q2 2025 reached EUR 723 million, up from EUR 605 million in Q2 2024, marking a 13% organic growth [2][3] - Operational EBITDA increased to EUR 105 million in Q2 2025 from EUR 86 million in Q2 2024, with an operational EBITDA margin of 14.5%, slightly above the 14.2% reported in the same quarter last year [2][4] - For H1 2025, revenue totaled EUR 1.353 billion, compared to EUR 1.139 billion in H1 2024, with a 12% organic growth [2] Segment Performance - Solutions segment revenue was EUR 450 million in Q2 2025, up from EUR 379 million in Q2 2024, with an operational EBITDA of EUR 66 million [10] - Applications segment revenue increased to EUR 234 million from EUR 175 million, with operational EBITDA rising to EUR 31 million [10] - Service & Accessories segment revenue grew to EUR 70 million from EUR 64 million, achieving an operational EBITDA of EUR 14 million [10] Order Backlog and Investments - At the end of Q2 2025, the high-voltage order backlog stood at EUR 10.1 billion, down from EUR 10.7 billion at the end of Q1 2025 [5] - The company is progressing with high-voltage capacity investments, including the expansion of the site in Karlskrona, Sweden, and the construction of a new cable-laying vessel, NKT Eleonora, expected to be operational by 2027 [8][9] Financial Outlook - The updated financial outlook for 2025 anticipates revenue between EUR 2.65 billion and EUR 2.75 billion, and operational EBITDA between EUR 360 million and EUR 390 million [3]

Core Insights - Iridium Communications Inc. reported a net income of $22.0 million for Q2 2025, down from $32.3 million in Q2 2024, primarily due to a one-time gain from the acquisition of Satelles, Inc. in the previous year [1][2] - Total revenue for Q2 2025 was $216.9 million, an 8% increase compared to the same period in 2024, with service revenue contributing $155.6 million and equipment sales generating $61.3 million [2][3] - The company ended the quarter with 2,483,000 total billable subscribers, reflecting a 3% year-over-year growth, driven mainly by the commercial IoT segment [3][4] Financial Performance - Operational EBITDA for Q2 2025 was $121.3 million, a 6% increase from $114.0 million in Q2 2024 [1][12] - The company’s commercial service revenue was $128.8 million, up 2% from the previous year, while government service revenue grew by 1% to $26.8 million [7][8] - Equipment revenue decreased by 15% to $19.5 million compared to $22.8 million in Q2 2024 [8] Subscriber Metrics - The total billable subscribers increased by 3% year-over-year, with commercial IoT data subscribers representing 82% of the commercial subscriber base [3][24] - Government voice and data subscribers decreased by 22% year-over-year to 49,000, while government IoT data subscribers remained flat [8][24] - Average revenue per user (ARPU) for commercial voice and data was $46, unchanged from the previous year, while IoT data ARPU increased to $7.83 from $7.70 [7][24] Business Highlights - Commercial services accounted for 59% of total revenue, with diverse markets including maritime, aviation, and emergency services [4][5] - The company is progressing on its direct-to-device service and exploring innovative applications for its new PNT service [4] - Iridium's Enhanced Mobile Satellite Services contract with the U.S. Space Force is valued at $738.5 million, providing satellite airtime services for federal government subscribers [6] Capital and Shareholder Returns - Capital expenditures for Q2 2025 were $20.7 million, with gross term loan debt at $1.8 billion [7][9] - The company declared a quarterly dividend of $0.15 per share for Q3 2025, marking a 5.5% increase from the previous year [9][10] - Iridium repurchased approximately 2.6 million shares for $65.0 million, with $295.3 million remaining authorized for repurchase through December 2027 [10] Outlook - The company updated its full-year 2025 service revenue growth outlook to between 3% and 5%, down from the previous guidance of 5% to 7% [11][15] - Full-year 2025 Operational EBITDA is expected to be between $490 million and $500 million [15] - The company aims to maintain net leverage below 4.0 times EBITDA through 2026, targeting a reduction to below 2.0 times by the end of the decade [15]