Iridium Q3 Revenue Up 8% to $245.7M; Net Income Jumps on $103.9M Aireon Gain
IRDM has more than doubled off its 52-week low of $15.645.
Summary
Iridium reported Q3 revenue of $245.7M (up 8%) and net income of $106.9M, though the profit surge came from a $103.9M Aireon acquisition gain rather than operations. Operational EBITDA dipped 1% to $135.6M, and the Rocket Lab deal is now expected to close by mid-2027.
Key Events · Earnings and Guidance · IRDM
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Q3 Revenue Grows 8% to $245.7M
Service revenue rose 13% to $187.5M, 76% of total, helped by the Aireon acquisition; equipment revenue fell 11% to $19.0M.
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Net Income Boosted by Aireon Gain
Net income was $106.9M ($0.98/share) versus $37.1M ($0.35) a year ago, including a $103.9M gain on the Aireon acquisition; operating income fell to $31.6M from $70.1M.
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Operational EBITDA Slips 1%
OEBITDA was $135.6M versus $136.6M, partly due to $4.5M in higher cash incentive compensation expense.
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Aireon Deal Closed July 2
Iridium assumed Aireon's $154.7M credit facility and deferred 50% of the purchase price as a $183.4M non-interest-bearing seller loan; net leverage stands at 4.2x TTM OEBITDA.
Analysis · IRDM · Technology
Revenue growth of 8% and a $106.9M net income quarter look strong, but the profit jump is almost entirely a $103.9M non-cash gain from the Aireon acquisition — operating income actually fell to $31.6M from $70.1M as SG&A nearly doubled on deal costs. Operational EBITDA slipped 1% to $135.6M, the metric that reflects the underlying business. With net leverage at 4.2x and the Rocket Lab deal not expected to close until mid-2027, investors are underwriting a standalone Iridium for several more quarters; the dividend bump to $0.16 signals confidence in cash generation during that wait.
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In the 30 days to Oct 25, 2026, 29.5% of the 1442 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.14%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, IRDM was trading at $44.31 on NASDAQ in the Technology sector, with a market capitalization of approximately $4.7B. The 52-week trading range was $15.65 to $57.18. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.