Iridium Communications unveils strong Q1 2025 financial results, net income jumps

Iridium Communications (NASDAQ:IRDM), a leading provider of global voice and data satellite communications, today announced robust financial results for the first quarter of 2025, showing significant growth in net income and revenue compared to the prior-year period.

For the first quarter ended March 31, 2025, Iridium reported net income of $30.4 million, or $0.27 per diluted share.

This represents a substantial increase from the first quarter of 2024, when the company posted net income of $19.7 million, or $0.16 per diluted share.

Operational EBITDA (OEBITDA) also saw healthy growth, rising 6% year-over-year to $122.1 million in the first quarter of 2025, up from $115 million in the first quarter of 2024.

Total revenue for the first quarter reached $214.9 million, a 5% increase compared to the same period in 2024.

This total comprised $154.3 million in service revenue and $60.6 million from equipment sales and engineering and support projects.

Service revenue, which primarily consists of recurring revenue from Iridium's expanding subscriber base, grew 4% from the year-ago quarter and accounted for 72% of total revenue in Q1 2025.

Revenue from engineering and support projects saw a notable increase of 23%.

Meanwhile, Iridium continued to expand its subscriber base, ending the first quarter of 2025 with 2,443,000 total billable subscribers.

This figure is up 5% from 2,333,000 in the year-ago period, driven primarily by growth in commercial IoT.