{"schema_version":"secwatch.filing_event.v1","accession":"0001418819-24-000022","form_type":"8-K","ticker":"IRDM","cik":"0001418819","company_name":"Iridium Communications Inc.","filed_at":"2024-04-18T23:59:59+00:00","discovered_at":"2026-05-14T18:03:18.331748+00:00","generated_at":"2026-06-03T18:37:55.401832+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Iridium Q1 net income $19.7M; OEBITDA $115M; completes Satelles acquisition; raises dividend","bullets":["Net income $19.7M ($0.16 diluted EPS) vs $9.8M ($0.08) YoY; OEBITDA $115M up 3%.","Total revenue $203.9M, down 1% YoY; service revenue $148.6M up 7%.","Commercial IoT revenue $39.4M (+23% YoY); subscribers up 18% to 1.77M.","Completed acquisition of Satelles on April 1; funded with $125M from term loan increase.","Board raises quarterly dividend to $0.14 (5.8% increase) from $0.13; $56.6M spent on 1.9M share repurchases in Q1."],"urls":{"canonical":"https://secwatch.observer/filing/0001418819-24-000022","json":"https://secwatch.observer/filing/0001418819-24-000022.json","markdown":"https://secwatch.observer/filing/0001418819-24-000022.md","text":"https://secwatch.observer/filing/0001418819-24-000022.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1418819/000141881924000022/0001418819-24-000022-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1418819/000141881924000022/irdm-20240418.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T18:37:55.401832+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"42a476ea36c4bd8815eb7f171b287085522e7331","claim":"Iridium Communications Inc. reported first quarter ended March 31, 2024 results: revenue $203.9 million, net income $19.7 million, EPS $0.16 per diluted share. Guidance reaffirmed.","evidence_excerpt":"Iridium Communications Inc. (Nasdaq:IRDM) (“Iridium”), a leading provider of global voice and data satellite communications, today reported financial results for the first quarter of 2024 and reiterated its full-year 2024 outlook. Net income was $19.7 million, or $0.16 per diluted share, for the first quarter of 2024, as compared to net income of $9.8 million, or $0.08 per diluted share, for the first quarter of 2023. Operational EBITDA (“OEBITDA”) (1) for the first quarter was $115.0 million, as compared to $111.9 million for the prior-year period, representing a year-over-year increase of 3%. Net income benefitted from a year-over-year decrease in depreciation expense associated with the extension of the estimated useful lives of the Company’s satellites and continued growth in total commercial services revenue. Iridium reported first-quarter total revenue of $203.9 million, which consisted of $148.6 million of service revenue and $55.3 million of revenue related to equipment sales a","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1418819/000141881924000022/0001418819-24-000022-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"first quarter ended March 31, 2024"},{"label":"Revenue","value":"$203.9 million"},{"label":"Net income","value":"$19.7 million"},{"label":"EPS","value":"$0.16 per diluted share"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}