Iridium Q3 profit rises to $106.9 million
- Iridium Communications reported third-quarter 2026 revenue of $245.7 million, up 8%, while net income increased to $106.9 million, largely reflecting a $103.9 million gain associated with the Aireon acquisition.
- Diluted earnings reached $0.98 per share, compared with $0.35 a year earlier, although operational EBITDA declined slightly to $135.6 million.
- Iridium shareholders approved the proposed Rocket Lab acquisition, expected to close by mid-2027, while the board plans to increase its quarterly dividend to $0.16 per share.
Iridium Communications (NASDAQ:IRDM) reported third-quarter 2026 revenue of $245.7 million, up 8% year over year, while net income increased to $106.9 million.
Diluted earnings rose to $0.98 per share from $0.35, largely reflecting a $103.9 million Aireon acquisition gain rather than stronger recurring profitability.
Operational EBITDA declined to $135.6 million from $136.6 million, while service revenue grew 13%, supported primarily by the Aireon acquisition.
Iridium expects its acquisition by Rocket Lab to close by mid-2027, subject to outstanding regulatory approvals and other customary closing conditions.
The company ended September with $2.2 billion in gross debt and $97.9 million in cash, following completion of its Aireon acquisition on July 2.
Iridium's board plans to increase its quarterly dividend to $0.16 per share beginning in Q4 2026, following a $0.15 third-quarter distribution.
