---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-23-012129"
form_type: "8-K"
ticker: "IRDM"
cik: "0001418819"
company_name: "Iridium Communications Inc."
filed_at: "2023-04-20T23:59:59+00:00"
generated_at: "2026-06-16T22:26:10.309670+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Iridium Q1: Net income $9.8M (EPS $0.08), OEBITDA $111.9M (+8% YoY), revenue +22%

## Summary
- Net income $9.8M ($0.08 diluted) vs $2.8M ($0.02) in Q1 2022; OEBITDA $111.9M (+8% YoY).
- Total revenue $205.3M (+22% YoY); service revenue $139.3M (+10%); equipment $41.7M (+24%).
- Paid inaugural dividend $0.13/share on March 30, 2023; repurchased $53.1M of stock in Q1.
- Reiterated FY2023 outlook: service revenue growth 9-11%, OEBITDA $455-465M.
- Commercial IoT subscribers +21% YoY to 1,501,000; total billable subscribers 2,051,000 (+15% YoY).

## SEC filing metadata
- accession: 0001628280-23-012129
- form_type: 8-K
- ticker: IRDM
- cik: 0001418819
- company_name: Iridium Communications Inc.
- filed_at: 2023-04-20T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1418819/000162828023012129/0001628280-23-012129-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1418819/000162828023012129/irdm-20230420.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-23-012129
- JSON: https://secwatch.observer/filing/0001628280-23-012129.json
- Plain text: https://secwatch.observer/filing/0001628280-23-012129.txt

## Key facts
- Earnings Releases
  Iridium Communications Inc. reported the first quarter ended March 31, 2023 results: revenue $205.3 million, net income $9.8 million, EPS $0.08 per diluted share. Guidance reaffirmed.
  - Period: the first quarter ended March 31, 2023
  - Revenue: $205.3 million
  - Net income: $9.8 million
  - EPS: $0.08 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: the prior-year period, representing a year-over-year increase of 8%. These results benefitted from growth in all business areas. Iridium reported first-quarter total revenue of $205.3 million, which consisted of $139.3 million of service revenue and $66.0 million of revenue related to equipment sales and engineering and support projects. Total revenue increased 22%
  evidence_url: https://www.sec.gov/Archives/edgar/data/1418819/000162828023012129/0001628280-23-012129-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.