Iridium Q1 revenue up 2% to $219.1M, net income drops to $21.6M; reiterates FY outlook

Iridium Communications Inc.

2026-Q1 EPS reported $0.20 vs consensus $0.34 ▼ miss (-41.5%)

Total revenue $219.1M (+2% YoY); service revenue $158.0M (+2%).
Net income $21.6M ($0.20 EPS) vs $30.4M ($0.27) a year ago; OEBITDA $116.3M vs $122.1M.
Ended Q1 with 2,555,000 billable subscribers (+5% YoY); commercial IoT subs grew 7% to 2,019,000.
Reiterated FY2026 OEBITDA guidance $480-490M, reflecting $17M cash compensation shift.
Paid $0.15/share dividend on Mar 31, 2026; net leverage 3.4x OEBITDA.

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