Every material Form 8-K Iridium Communications has filed with the SEC since April 22, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
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
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.
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.
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
On June 28, 2026, Iridium agreed to merge with Rocket Lab, which will acquire all outstanding Iridium common stock for $27.00 in cash plus Rocket Lab shares per Iridium share. The companies put the notional value at $54.00 per share and the enterprise value at approximately $8.0 billion, and the deal requires an Iridium stockholder vote, antitrust clearance, and FCC consent. Iridium would owe Rocket Lab a $223.62 million termination fee in specified circumstances, and its shares would be delisted from Nasdaq if the deal closes.
Each Iridium share receives $27.00 in cash plus Rocket Lab stock; the exchange ratio is fixed at 0.4000 if the Rocket Lab price is $67.50 or less and at 0.2400 if it is $112.50 or more.
The transaction is expected to close in mid-2027, with an outside date of June 28, 2027, extendable to December 28, 2027.
Iridium would pay Rocket Lab a $223.62 million termination fee under specified circumstances, including if its board withdraws its recommendation.
Rocket Lab has received commitments for a $3.6 billion 364-day senior secured bridge term loan from Deutsche Bank and Wells Fargo.
At its May 20, 2026 virtual annual meeting, Iridium's stockholders approved the Amended and Restated 2015 Equity Incentive Plan, which reserves a maximum of 42,947,991 shares for stock options and other equity awards, and re-elected all 11 directors. The company also declared a $0.15 per share cash dividend, payable June 30, 2026, which shareholders will receive if they are of record on June 15, 2026.
Equity Incentive Plan: stockholders approved up to 42,947,991 shares for stock options and other equity awards, effective immediately.
Directors: all 11 nominees were elected to one-year terms ending at the 2027 annual meeting; Robert H. Niehaus received 75,648,972 votes for.
Say-on-pay: non-binding approval of executive compensation with 66,205,295 votes for and 10,109,733 against.
Dividend: $0.15 per share, payable June 30, 2026, to holders of record as of June 15, 2026.
Iridium agreed on May 13, 2026, to acquire the 61% of Aireon it does not already own for approximately $366.7 million, paid half in cash at closing and half as a seller loan due one year later. Iridium also expects to assume about $155.0 million of Aireon debt and expects net leverage to rise to about 4.0 times OEBITDA in Q3 2026, with its share buyback program remaining paused.
Purchase price is approximately $366.7 million, with 50% paid in cash at closing and 50% as a $183.36 million, non-interest-bearing seller loan due one year after closing.
Iridium expects to assume Aireon debt of about $155.0 million at closing, bearing interest at SOFR + 6.25% and maturing October 2028.
Iridium expects the deal to add at least $100 million of annualized service revenue and $30 million of annualized OEBITDA.
Net leverage is expected to rise to about 4.0 times OEBITDA in Q3 2026; the paused share buyback is unchanged, and closing is targeted for early July 2026, subject to regulatory approvals.
Iridium reported first quarter 2026 total revenue of $219.1 million, up 2% from a year earlier, with service revenue up 2% to $158.0 million. Net income fell to $21.6 million, or $0.20 per diluted share, from $30.4 million, or $0.27, and operational EBITDA declined 5% to $116.3 million, partly due to a change to pay annual incentive compensation entirely in cash. The company reiterated its full-year 2026 outlook, which includes expected OEBITDA of $480 million to $490 million.
Total revenue was $219.1 million, up 2% from $214.9 million; service revenue was 72% of the total.
Net income was $21.6 million, or $0.20 per diluted share, versus $30.4 million, or $0.27, a year earlier.
Operational EBITDA was $116.3 million versus $122.1 million, a decline the company attributed to a $4.2 million increase in accrued incentive compensation expenses.
Full-year 2026 guidance was reiterated: service revenue flat to 2% growth and OEBITDA of $480 million to $490 million, including a $17 million impact from the incentive compensation change.
Iridium Communications approved an Annual Performance Bonus Plan and an Executive Severance Plan on February 26, 2026, covering its CEO, CFO and other named executive officers. The severance plan sets enhanced payouts, including a 2X multiplier for the CEO after a change in control, which matters to shareholders because it affects costs if executives leave around a sale of the company.
Annual Bonus Plan pays awards in cash, restricted stock units or both, capped at 200% of target bonus
Severance for CEO is 18 months of base salary without a change in control, and 2X base salary plus target bonus with one
Change-in-control termination covers terminations within 3 months before or 24 months after a change in control
Full plan documents will be filed with the Form 10-Q for the quarter ending March 31, 2026
Iridium reported fourth-quarter 2025 total revenue of $212.9 million, flat from a year earlier, while net income fell to $24.9 million from $36.3 million. For full-year 2025, revenue rose 5% to $871.7 million and diluted EPS rose 13% to $1.06, and the company gave 2026 OEBITDA guidance of $480 million to $490 million, which includes a $17 million impact from paying incentive compensation entirely in cash.
Q4 2025 net income was $24.9 million, or $0.24 per diluted share, versus $36.3 million, or $0.32, in Q4 2024; Q4 OEBITDA was $115.3 million, down 2%.
Full-year 2025 net income was $114.4 million, up from $112.8 million, and OEBITDA was $495.3 million, up 5%.
2026 outlook: service revenue growth of flat to 2% and OEBITDA of $480 million to $490 million; without the incentive compensation change, OEBITDA would have been projected at $497 million to $507 million.
Net leverage was 3.4 times OEBITDA at December 31, 2025, with a target of at or below 3.0 times by the end of 2026.
Iridium Communications appointed Louis M. Alterman as an independent director effective immediately, expanding the board to twelve members. The board also declared a cash dividend of $0.15 per share, payable December 31, 2025, to stockholders of record as of December 15, 2025.
Louis M. Alterman joins the board effective December 4, 2025; his initial term runs to the 2026 annual meeting.
Alterman has been president and CEO of Stratix Corporation since 2019 and was CFO of Rackspace from 2017 to 2019.
Cash dividend of $0.15 per share; payable December 31, 2025, to holders of record on December 15, 2025.
Iridium reported third-quarter 2025 total revenue of $226.9 million, up 7%, and net income of $37.1 million, or $0.35 per diluted share, versus $24.4 million, or $0.21, a year earlier. The company trimmed its full-year service revenue growth outlook to about 3% from 3% to 5%, while raising the low end of its full-year OEBITDA guidance and paying a dividend that rises 5% for the year.
Q3 OEBITDA was $136.6 million, up 10% from $124.4 million; total billable subscribers reached 2,542,000, up 2%.
Full-year 2025 service revenue growth guidance is about 3%, down from the previous 3% to 5% range; full-year OEBITDA guidance is $495 million to $500 million, up from $490 million to $500 million.
The share repurchase program has been paused; the company repurchased 1.9 million shares for $50.0 million in the quarter, with $245.3 million still authorized through December 31, 2027.
Net leverage was 3.5 times trailing twelve-month OEBITDA at quarter end; the company expects net leverage below 3.5 times in 2025.
Iridium reported second-quarter 2025 total revenue of $216.9 million, up 8%, and operational EBITDA of $121.3 million, up 6%. Net income fell to $22.0 million from $32.3 million a year earlier, which included a one-time $19.8 million gain, and the company cut its full-year service revenue growth forecast to 3%-5% from 5%-7%. Shareholders also get a quarterly dividend increase to $0.15 per share from $0.14.
Q2 2025 net income was $22.0 million, or $0.20 per diluted share, versus $0.27 a year earlier; the prior-year period included a one-time $19.8 million gain.
Full-year 2025 service revenue growth guidance was lowered to 3%-5% from 5%-7%; full-year OEBITDA guidance of $490 million to $500 million was maintained.
Board declared a $0.15 per share dividend, payable September 30, 2025, to holders of record as of September 15, 2025.
The company repurchased about 2.6 million shares for $65.0 million in the quarter; $295.3 million remained under the program as of June 30, 2025.
Iridium Communications appointed Monique Shivanandan, Group Chief Data & Analytics Officer at HSBC, as a director effective June 17, 2025, increasing the board to eleven. She will also serve on the Compensation Committee, and the Board has determined she is independent under Nasdaq and SEC rules.
Monique S. Shivanandan appointed director effective June 17, 2025; board increased to eleven members
Initial term expires at the Company's 2026 annual meeting of stockholders
Will serve on the Compensation Committee and receive standard non-employee director compensation
Background includes cybersecurity and CIO roles at HSBC, Chubb, Aviva and Capital One
At its May 14, 2025 annual meeting, Iridium stockholders elected all ten directors, approved an amended and restated 2015 Equity Incentive Plan, and approved a charter amendment limiting monetary liability of certain officers. The board also declared a $0.14 per share cash dividend payable June 30, 2025. The filing reports routine governance outcomes and does not include financial results.
Stockholders approved the Amended and Restated 2015 Equity Incentive Plan, reserving a maximum of 38,097,991 shares plus certain shares from the 2012 plan.
All ten directors were elected to one-year terms until the 2026 annual meeting; Proposal 2 (advisory say-on-pay) was approved with 70,154,115 votes for.
The board declared a $0.14 per share cash dividend, payable June 30, 2025, to holders of record as of June 13, 2025.
About 83.3% of the 108,732,964 outstanding shares were present or represented at the meeting.
Iridium reported first-quarter 2025 net income of $30.4 million, or $0.27 per diluted share, up from $19.7 million, or $0.16, a year earlier. Total revenue rose 5% to $214.9 million and Operational EBITDA rose 6% to $122.1 million, and the company reiterated its full-year 2025 guidance. For shareholders, the quarter showed higher profit and revenue, while the CEO said new tariffs may raise equipment costs this year.
Net income was $30.4 million, or $0.27 per diluted share, versus $19.7 million, or $0.16, in Q1 2024.
Total revenue was $214.9 million, up 5%; service revenue was $154.3 million, up 4%.
Operational EBITDA was $122.1 million, up 6% from $115.0 million.
Full-year 2025 OEBITDA guidance of $490 million to $500 million was reiterated; the quarterly dividend is planned to rise to $0.15 per share in the third quarter of 2025.
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