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Iridium Communications

Iridium Communications (IRDM) Q3 2025 Earnings

Reported Oct 23, 2025 at 7:00 AM ET · SEC Source

Q3 25 EPS

$0.35

BEAT +41.13%

Est. $0.25

Q3 25 Revenue

$226.9M

BEAT +2.16%

Est. $222.1M

vs S&P Since Q3 25

+188.0%

BEATING MARKET

IRDM +199.2% vs S&P +11.2%

Market Reaction

Did IRDM Beat Earnings? Q3 2025 Results

Iridium Communications cleared Wall Street's bar with room to spare in the third quarter, posting earnings of $0.35 per diluted share on revenue of $226.94 million, well ahead of analyst consensus estimates of $0.26 and $223.69 million, as a surge in… Read more Iridium Communications cleared Wall Street's bar with room to spare in the third quarter, posting earnings of $0.35 per diluted share on revenue of $226.94 million, well ahead of analyst consensus estimates of $0.26 and $223.69 million, as a surge in government engineering work and steady commercial IoT gains combined to lift results across the board. Net income climbed to $37.13 million from $24.45 million a year earlier, while operational EBITDA rose 10% to $136.59 million. The standout driver was engineering and support revenue, which jumped 31% to $40.19 million on the back of accelerating U.S. Government activity, including work tied to a Space Development Agency contract. Commercial IoT data revenue grew 7% on 5% subscriber growth, reinforcing the durability of Iridium's recurring revenue base even as commercial broadband slipped 17%. Looking ahead, the company narrowed its full-year service revenue growth guidance to approximately 3% and tightened OEBITDA guidance to $495 million–$500 million, signaling confidence despite pausing share buybacks to focus on deleveraging and strategic investments, a positioning that has helped the stock hold ground amid broader satellite sector volatility.

Key Takeaways

  • • Commercial IoT data subscriber growth of 5% year-over-year to 1,991,000 subscribers
  • • Price actions on commercial voice and data driving 4% ARPU increase to $48
  • • Engineering and support revenue up 31% driven by Space Development Agency contract and U.S. government activity
  • • Hosted payload and PNT service revenue up 14% from Satelles PNT service contributions
  • • Total billable subscribers grew 2% year-over-year to 2,542,000
24/7 Wall St

IRDM YoY Financials

Q3 2025 vs Q3 2024, source: SEC Filings

24/7 Wall St

IRDM Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“We continue to execute with discipline, focusing efforts on growth markets where our unique network delivers a competitive advantage, specifically in government, regulated industries, and critical infrastructure. We expect our investments in support of services for these strategic areas to drive resilient financial results as we continue to innovate and focus on long-term value creation.”

— Matt Desch, Q3 2025 Earnings Press Release

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