Iridium Communications Inc. Q3 FY26 Results

Summary

Iridium Communications Inc. reported third quarter 2026 total revenue of $245.7 million, an 8% increase year-over-year, driven by a 13% rise in service revenue to $187.5 million, largely attributed to the Aireon acquisition. Net income surged to $106.9 million ($0.98 per diluted share) from $37.1 million ($0.35 per diluted share) in the prior year, benefiting from a gain on the Aireon acquisition. Operational EBITDA was $135.6 million, slightly down from $136.6 million in Q3 2025, partly due to increased incentive compensation expenses. Total billable subscribers grew 6% year-over-year to 2.7 million, with IoT leading the expansion.

Key Highlights

1. 1

   Iridium reported third quarter total revenue of $245.7 million, an 8% increase versus the comparable period of 2025.

2. 2

   Service revenue grew 13% from the year-ago period to $187.5 million, primarily due to the acquisition of Aireon.

3. 3

   Net income for the third quarter of 2026 was $106.9 million, or $0.98 per diluted share, a significant increase from $37.1 million, or $0.35 per diluted share, in the third quarter of 2025.

4. 4

   Operational EBITDA for the third quarter of 2026 was $135.6 million, a slight decrease from $136.6 million in the prior-year period.

5. 5

   Total billable subscribers grew 6% year-over-year to 2,696,000, led by growth in commercial Internet of Things (IoT).

6. 6

   Commercial service revenue increased 16% to $159.9 million, primarily due to the acquisition of Aireon.

7. 7

   The U.S. Space Force exercised its option to extend the EMSS Contract with Iridium through March 2027.