secwatch.observer — SEC 8-K summary
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Issuer:     Iridium Communications Inc. (IRDM)
CIK:        0001418819
Form:       8-K
Filed at:   2022-07-26T23:59:59+00:00
Accession:  0001193125-22-201436
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Iridium Q2 revenue $174.9M (+17% YoY); raises FY22 service revenue and OEBITDA guidance; smartphone deal
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- Q2 net income $4.6M ($0.04 diluted EPS) vs $3.8M ($0.03) YoY; total revenue $174.9M (+17%); OEBITDA record $105.9M (+12%).
- Raised FY22 service revenue growth outlook to 7-9% from 5-7%; OEBITDA guidance raised to $410-420M from $400-410M.
- Smartphone development agreement: contingent on successful development and service provider agreement by end of 2022; fees, royalties, network usage fees plus recoupment payments.
- Commercial IoT subscribers 1.323M (+22% YoY); total billable subscribers 1.875M (+16% YoY).
- Repurchased 1.0M shares for $35M; $267.5M still authorized under $600M buyback program.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1418819/000119312522201436/0001193125-22-201436-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1418819/000119312522201436/d364873d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-201436

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