Iridium Announces Third Quarter 2026 Results
Iridium reported Q3 2026 revenue of $245.7 million, up 8% year-over-year, with service revenue up 13% largely on the completed Aireon acquisition. Net income of $106.9 million ($0.98 diluted EPS) was up sharply, but the increase was driven primarily by a one-time $103.9 million gain tied to the Aireon acquisition; Operational EBITDA actually slipped 1% to $135.6 million. Stockholders approved Rocket Lab's acquisition of Iridium with 99.6% of votes cast in favor, and the deal is expected to close by mid-2027 pending remaining regulatory approvals.
Key figures
- Eps
- 0.98
- Revenue
- 245733000
- Revenue Yoy
- 8%
- Cash
- 97853000
- Capex
- 27447000
- Oebitda
- 135621000
- Net debt
- 2061605000
- Gross debt
- 2159458000
- Net income
- 106896000
- Aireon gain
- 103868000
- Oebitda yoy
- -1%
- Net leverage
- 4.2x TTM OEBITDA
- Stockholder approval
- 99.6% of votes cast (81.4% of outstanding shares)
- Net income prior year
- 37127000
- Subscriber growth yoy
- 6%
- Service revenue growth
- 13%
- Planned dividend increase
- to $0.16/share in Q4 2026, +5.2% full-year
- Commercial service revenue
- 159925000
- Government service revenue
- 27573000
- Total billable subscribers
- 2696000
- Quarterly dividend per share
- 0.15
- Service revenue pct of total
- 76%
- Hosted payload revenue growth
- 121%
AI analysis
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