Iridium Q1 revenue rises 2% to $219.1 million; profit falls, 2026 outlook reiterated
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.
Key points
- 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.
The filing
Written by AI on Nov 8, 2026, 1:00 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 23, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.