Oct 20, 7:01 AM ET
Iridium reported third quarter 2026 revenue of $245.7 million, up 8% from a year earlier, and net income of $106.9 million, or $0.98 per diluted share, compared with $37.1 million, or $0.35, a year earlier. The profit increase was mainly due to a $103.9 million gain tied to the Aireon acquisition, while operational EBITDA slipped 1% to $135.6 million, so shareholders are weighing growth against a one-time gain and a small decline in core operating earnings.
- Total revenue $245.7 million, up 8% from $226.9 million in the prior-year quarter; service revenue up 13%
- Net income $106.9 million ($0.98 per diluted share) versus $37.1 million ($0.35) a year earlier, driven by a $103.9 million Aireon acquisition gain
- Operational EBITDA $135.6 million versus $136.6 million, including $4.5 million in higher expenses from paying annual incentive compensation solely in cash
- Stockholders approved the Rocket Lab acquisition on September 24, 2026 with 99.6% of votes cast in favor; completion expected by mid-2027
Read the filing on SEC.gov ↗
Sep 15, 6:05 AM ET
On September 15, 2026, Iridium signed a fourth amendment to its credit agreement, tied to its pending merger with Rocket Lab. The amendment states that the merger will not count as a change of control under the credit agreement, so the term loans can remain outstanding after closing. Certain loan terms become more costly for Iridium only after the merger closes, including higher interest margins, a repricing premium and an exit fee.
- The amendment, dated September 15, 2026, is among Iridium, Iridium Satellite LLC, the lenders and Deutsche Bank AG New York Branch as agent.
- After closing, term loan rates would be SOFR plus a 2.50% to 3.00% margin, or base rate plus a 1.5% to 2.00% margin, based on Iridium's credit ratings.
- After closing, a 1.00% prepayment premium applies to repricing transactions, and a 1.00% exit fee applies to term loans prepaid after the first anniversary of closing.
- The merger agreement with Rocket Lab was dated June 28, 2026; the Fourth Amendment's changes take effect only if the merger closes.
Read the filing on SEC.gov ↗
Jul 22, 7:01 AM ET
Iridium reported second quarter 2026 revenue of $225.2 million, up 4% from a year earlier, while net income fell to $9.7 million, or $0.09 per diluted share, from $22.0 million, or $0.20. The company attributed the profit decline mainly to higher transaction costs tied to its pending acquisition by Rocket Lab, which is expected to close in mid-2027 subject to Iridium stockholder approval. Iridium will not hold a conference call or provide financial guidance.
- Total revenue was $225.2 million, up 4% from $216.9 million; service revenue was 72% of total.
- Net income was $9.7 million, or $0.09 per diluted share, versus $22.0 million, or $0.20, a year earlier.
- Operational EBITDA was $119.1 million, down from $121.3 million, due partly to a $3.9 million increase in accrued incentive compensation.
- Rocket Lab acquisition agreement dated June 28, 2026 is expected to close in mid-2027; the company will not provide guidance.
Read the filing on SEC.gov ↗
Jul 7, 5:11 PM ET
Iridium completed its acquisition of the remaining 61% of Aireon Holdings LLC on July 2, 2026, giving it full ownership of Aireon. The purchase price was approximately $366.7 million, with half paid in cash and the rest funded by a $183.36 million interest-free loan from the sellers, while Aireon's $154.7 million term loans now sit on Iridium's consolidated balance sheet. The filing also discloses cash retention awards for two executives tied to the pending Rocket Lab merger.
- Purchase price of approximately $366.7 million, 50% paid in cash at closing on July 2, 2026
- Sellers provided a $183.36 million interest-free term loan maturing one year after the closing date
- Aireon's Term Loans had an aggregate principal balance of $154.7 million, maturing October 10, 2028
- CFO Vincent J. O'Neill ($409,999.98) and CLO Kathleen A. Morgan ($873,036.32) received retention awards tied to the Rocket Lab merger agreement dated June 28, 2026
Read the filing on SEC.gov ↗
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
