Q1 26 EPS
$0.20
MISS 28.57%
Est. $0.28
Q1 26 Revenue
$219.1M
MISS 0.06%
Est. $219.2M
vs S&P Since Q1 26
+12.5%
BEATING MARKET
IRDM +18.1% vs S&P +5.6%
Market Reaction
Did IRDM Beat Earnings? Q1 2026 Results
Iridium Communications Inc. Delivered a softer-than-expected first quarter for 2026, missing on both earnings and revenue as a deliberate shift in compensation structure weighed on the bottom line. The satellite operator posted earnings of $0.20 per … Read more Iridium Communications Inc. Delivered a softer-than-expected first quarter for 2026, missing on both earnings and revenue as a deliberate shift in compensation structure weighed on the bottom line. The satellite operator posted earnings of $0.20 per diluted share, falling short of the $0.28 consensus estimate by 28.57%, while revenue of $219.06 million came in just fractionally below the $219.18 million Wall Street had anticipated, representing 1.9% growth year-over-year. The primary culprit was a spike in SG&A expenses to $45.78 million, up from $35.75 million a year ago, as Iridium elected to pay annual incentive compensation entirely in cash rather than a blend of cash and equity, a decision that will shave approximately $17 million from full-year OEBITDA. Operational EBITDA declined 5% to $116.34 million as a result. On a brighter note, the total subscriber base expanded 5% to 2.56 million, with IoT data subscribers leading the way. Iridium reaffirmed its 2026 outlook, targeting OEBITDA of $480 million to $490 million and net leverage at or below 3.0x by year-end, even as spectrum monetization prospects continue to capture investor attention.
Key Takeaways
- • Commercial IoT data subscriber growth of 7% year-over-year
- • Price actions on commercial voice and data driving ARPU increase to $48 from $45
- • Contractual rate increases under the EMSS Contract supporting government service revenue growth
- • Increasing engineering and support activity with U.S. government
IRDM YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
IRDM Revenue by Segment
With YoY comparisons, source: SEC Filings
“2026 is off to a solid start, as we continue to grow service revenue and introduce new products, like our next-generation IoT platform.”
— Matt Desch, Q1 2026 Earnings Press Release
IRDM Earnings Trends
IRDM vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
IRDM EPS Trend
Earnings per share: estimate vs actual
IRDM Revenue Trend
Quarterly revenue: estimate vs actual
IRDM Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 MISS | $0.29 | $0.09 | -68.97% | $225.2M | +2.17% |
| Q1 26 MISS | $0.28 | $0.20 | -28.57% | $219.1M | -0.06% |
| Q4 25 MISS FY | $0.25 | $0.24 | -4.00% | $212.9M | -2.83% |
| FY Full Year | $1.08 | $1.06 | -1.49% | $871.7M | -0.73% |
| Q3 25 BEAT | $0.25 | $0.35 | +41.13% | $226.9M | +2.16% |
| Q2 25 MISS | $0.24 | $0.20 | -15.79% | $216.9M | +1.28% |
| Q1 25 MISS | $0.28 | $0.27 | -3.57% | $214.9M | +1.45% |