Every material Form 8-K Iridium Communications filed with the SEC in 2026, 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.
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.
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