Iridium Communications (IRDM) Q1 2025

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Earnings

Iridium Communications turned in a steady first quarter for 2025, reporting earnings per share of $0.27 on revenue of $214.88 million, a 5% year-over-year increase, as the satellite operator's subscription-driven model continued to generate dependabl… Read more Iridium Communications turned in a steady first quarter for 2025, reporting earnings per share of $0.27 on revenue of $214.88 million, a 5% year-over-year increase, as the satellite operator's subscription-driven model continued to generate dependable cash flows despite a choppy macro backdrop. The clearest growth engine was commercial IoT data, where revenue surged 11% to $43.86 million on 7% subscriber growth to 1.89 million, fueled by consumer personal communications devices that have broadened Iridium's addressable market well beyond its traditional industrial base. Net income nearly doubled to $30.41 million from $19.65 million a year ago, while operational EBITDA climbed 6% to $122.12 million. The quarter wasn't without headwinds, commercial broadband revenue slipped 6% and CEO Matt Desch flagged an estimated $3 million to $7 million in incremental tariff costs for the year, a concern that weighed on the stock despite the solid results. Looking ahead, the company reiterated full-year guidance for service revenue growth of 5% to 7% and OEBITDA between $490 million and $500 million.