secwatch.observer — SEC 8-K summary
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Issuer:     Iridium Communications Inc. (IRDM)
CIK:        0001418819
Form:       8-K
Filed at:   2024-10-17T23:59:59+00:00
Accession:  0001628280-24-042982
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1418819/000162828024042982/0001628280-24-042982-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1418819/000162828024042982/irdm-20241017.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-042982

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer