secwatch.observer — SEC 8-K summary
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Issuer:     Iridium Communications Inc. (IRDM)
CIK:        0001418819
Form:       8-K
Filed at:   2023-10-19T23:59:59+00:00
Accession:  0001418819-23-000032
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Iridium Q3 net loss $1.6M; record OEBITDA $121.3M, +12% YoY; rev $197.6M +7%
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- Net loss of $1.6M ($0.01/diluted) vs net income $2.1M ($0.02) in Q3 2022; loss due to credit facility refinancing costs.
- Total revenue $197.6M (+7% YoY); service revenue $152M (+9%) was 77% of total; commercial service rev $125.5M (+12%).
- Operational EBITDA record $121.3M (+12% YoY); FY2023 OEBITDA guidance raised to $460-465M.
- Total billable subscribers 2.236M (+13% YoY); commercial IoT subscribers up 18% to 1.667M.
- Equipment revenue $20.4M (-27% YoY); engineering & support rev $25.2M (+47% YoY) due to govt activity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1418819/000141881923000032/0001418819-23-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1418819/000141881923000032/irdm-20231019.htm
  HTML page:      https://secwatch.observer/filing/0001418819-23-000032

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