Iridium Q2 net income $32.3M vs loss last year; revenue up 4% to $201.1M

Iridium Communications Inc.

2024-Q2 EPS reported $0.42 revenue$404,920,000

Net income $32.3M ($0.27 diluted EPS) vs net loss $30.7M in Q2 2023.
Total revenue $201.1M (+4% YoY); service revenue $152.5M (+5%), 76% of total.
OEBITDA $114M (-2% YoY); full-year 2024 OEBITDA guidance reiterated at $460-470M.
Total billable subscribers 2.413M (+13% YoY); commercial IoT subs up 16% to 1.837M.
Quarterly dividend increased to $0.14/share (+5.8%); repurchased 3.3M shares for $96.6M.

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