Iridium Communications Inc. (IRDM) Form 10-Q — Oct 20, 2026
Iridium reported Q3 2026 revenue of $245.7 million, up 8% year over year, with net income of $106.9 million ($0.98 diluted EPS) — but the profit surge was driven by a one-time $135.3 million remeasurement gain from acquiring full ownership of Aireon, while operating income actually fell 55% to $31.6 million on acquisition and merger costs. The company completed the acquisition of the remaining 60.5% of Aireon Holdings on July 2, 2026 for approximately $366.7 million, adding $167.2 million of goodwill and $285.1 million of intangibles, and Aireon contributed $34.5 million of revenue in the quarter.
Key figures
- Eps
- 0.98
- Revenue
- 245733000
- Net Income
- 106896000
- Revenue Yoy
- 8% (Q3 2026 vs Q3 2025); 5% nine months
- Total Assets
- 3082039000
- Cash Position
- 97853000
- Shares Outstanding
- 106158479
- Q3 2025 revenue
- 226935000
- Termination fee
- 223600000
- Operating income q3
- 31618000
- Q3 2025 diluted eps
- 0.35
- Q3 2026 diluted eps
- 0.98
- Billable subscribers
- 2696000
- Aireon purchase price
- 366700000
- Nine month net income
- 138169000
- Term loan interest rate
- SOFR + 2.25% (0.75% floor); post-Transaction SOFR + 2.50%-3.00%
- Emss contract annual fee
- 110500000
- Aireon remeasurement gain
- 135300000
- Operating income q3 change
- -55%
- Dividend per share quarterly
- 0.15
- Aireon acquisition fair value
- 523823000
- Aireon q3 revenue contribution
- 34492000
- Merger cash component per share
- 27
AI analysis
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