Iridium Q3 net income $24.4M, record revenue $212.8M, boosts buyback by $500M

Iridium Communications Inc.

2024-Q3 EPS reported $0.63 revenue$617,691,000

Q3 net income $24.4M ($0.21 diluted EPS) vs year-ago loss $1.6M; record OEBITDA $124.4M.
Total revenue $212.8M (+8% YoY); service revenue $159.9M (+5%); commercial IoT revenue $43.7M (+14%).
Ended Q3 with 2.48M billable subs (+11% YoY); IoT subs 1.9M (+14%).
Board authorized additional $500M share repurchase through Dec 2027; Q3 repurchased 4.7M shares for $128.6M.
Full-year OEBITDA guidance raised to $465-470M (from $460-470M); net leverage 3.5x.

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