IRDM FY 2024 Earnings Report — Iridium Communications Inc. Revenue & Financial Results | Market Cap Arena

Iridium Communications Inc.IRDM

FY 2024 Earnings

Reported February 13, 2025

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2024	Prior Q	FY 2023	QoQ Change	YoY Change
Revenue	$831M	—	$791M	—	5.1%
Op. Income	$203M	—	$119M	—	70.8%
Gross Margin	47.8%	—	35.8%	—	12.0pp
Net Margin	13.6%	—	1.9%	—	11.6pp
EPS (Diluted)	$0.94	—	$0.12	—	683.3%
Free Cash Flow	$306M	—	$241M	—	26.8%

Revenue Flow

Item	Amount
REVENUE	$831M
Cost of Revenue	$434M
GROSS PROFIT	$397M
R&D Expenses	$28M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$165M
Other Expenses	$0
Operating Expenses	$194M
Cost & Expenses	$627M
OPERATING INCOME	$203M
Interest Income	$12M
Interest Expense	$103M
Other Income/Expenses	-$78M
INCOME BEFORE TAX	$125M
Income Tax Expense	$12M
Net Income from Continuing Ops	$113M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$113M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$113M
D&A	$203M
EBIT	$213M
EBITDA	$416M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$831M
Cost of Revenue	$434M
GROSS PROFIT	$397M
R&D Expenses	$28M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$165M
Other Expenses	$0
Operating Expenses	$194M
Cost & Expenses	$627M
OPERATING INCOME	$203M
Interest Income	$12M
Interest Expense	$103M
Other Income/Expenses	-$78M
INCOME BEFORE TAX	$125M
Income Tax Expense	$12M
Net Income from Continuing Ops	$113M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$113M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$113M
D&A	$203M
EBIT	$213M
EBITDA	$416M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$113M
Depreciation & Amortization	$203M
Stock-Based Compensation	$63M
Deferred Income Tax	$7M
Other Non-Cash Items	-$12M
Change in Working Capital	$2M
OPERATING CASH FLOW	$376M
Capital Expenditure	-$70M
Acquisitions (Net)	-$111M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$181M
Net Debt Issuance	$306M
Common Stock Repurchased	-$408M
Common Dividends Paid	-$65M
Other Financing Activities	-$4M
NET CASH FROM FINANCING	-$170M
FREE CASH FLOW	$306M
Net Change in Cash	$22M

Balance Sheet

Item	Amount
Cash & Equivalents	$94M
Short-Term Investments	$0
Net Receivables	$99M
Inventory	$81M
Other Current Assets	$19M
TOTAL CURRENT ASSETS	$293M
PP&E (Net)	$2.1B
Goodwill	$98M
Intangible Assets	$91M
Long-Term Investments	$90M
Tax Assets	$2M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$2.4B
TOTAL ASSETS	$2.7B
Account Payables	$20M
Short-Term Debt	$38M
Deferred Revenue	$52M
Other Current Liabilities	$60M
TOTAL CURRENT LIABILITIES	$169M
Long-Term Debt	$1.8B
Deferred Revenue NC	$38M
Deferred Tax Liabilities	$114M
Other Non-Current Liabilities	$4M
TOTAL NON-CURRENT LIABILITIES	$1.9B
TOTAL LIABILITIES	$2.1B
Common Stock	$110.0K
Additional Paid-In Capital	$964M
Retained Earnings	-$406M
Treasury Stock	$0
Accum. Other Comp. Income	$18M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$577M
Minority Interest	$0
TOTAL EQUITY	$577M
TOTAL LIABILITIES & EQUITY	$2.7B
Total Debt	$1.8B
Net Debt	$1.7B