$IRDM
Iridium Communications Inc.

2023 Q4 Form 10-Q Financial Statement

#000141881923000033 Filed on October 19, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2023 Q1
Revenue $194.7M $197.6M $205.3M
YoY Change 0.47% 7.36% 22.03%
Cost Of Revenue $55.61M $54.20M $63.74M
YoY Change -2.38% 2.68% 42.91%
Gross Profit $139.1M $143.4M $141.5M
YoY Change 1.65% 9.24% 14.49%
Gross Profit Margin 71.44% 72.57% 68.95%
Selling, General & Admin $34.32M $33.37M $38.68M
YoY Change -6.24% 3.82% 48.2%
% of Gross Profit 24.66% 23.27% 27.33%
Research & Development $5.728M $5.037M $3.878M
YoY Change -0.35% 3.54% 48.07%
% of Gross Profit 4.12% 3.51% 2.74%
Depreciation & Amortization $52.80M $76.83M $75.82M
YoY Change -30.29% 0.56% 0.21%
% of Gross Profit 37.95% 53.57% 53.57%
Operating Expenses $92.83M $38.41M $42.56M
YoY Change -21.39% 3.78% 48.19%
Operating Profit $46.30M $28.16M $23.15M
YoY Change 146.61% 57.52% 20.36%
Interest Expense -$19.11M -$34.70M -$17.89M
YoY Change -2.46% 96.8% 22.73%
% of Operating Profit -41.29% -123.25% -77.29%
Other Income/Expense, Net $3.031M -$34.32M -$17.67M
YoY Change 530.15% 93.03% 21.16%
Pretax Income $30.21M -$6.200M $5.500M
YoY Change -2076.0% -6300.0% 19.57%
Income Tax -$9.578M -$6.000M -$5.500M
% Of Pretax Income -31.7% -100.0%
Net Earnings $38.02M -$1.642M $9.775M
YoY Change -4805.82% -176.41% 246.14%
Net Earnings / Revenue 19.53% -0.83% 4.76%
Basic Earnings Per Share -$0.01 $0.08
Diluted Earnings Per Share $0.29 -$0.01 $0.08
COMMON SHARES
Basic Shares Outstanding 123.9M shares 125.1M shares 126.0M shares
Diluted Shares Outstanding 125.2M shares 128.7M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $71.87M $67.90M $126.6M
YoY Change -57.42% -68.96% -45.44%
Cash & Equivalents $71.87M $67.88M $126.6M
Short-Term Investments
Other Short-Term Assets $13.28M $10.30M $14.16M
YoY Change -13.68% -23.11% 27.45%
Inventory $91.14M $71.14M $37.34M
Prepaid Expenses
Receivables $91.72M $100.7M $100.6M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $271.1M $252.9M $278.7M
YoY Change -11.47% -29.39% -20.69%
LONG-TERM ASSETS
Property, Plant & Equipment $2.196B $2.229B $2.384B
YoY Change -9.76% -10.12% -8.17%
Goodwill $0.00
YoY Change
Intangibles $41.10M $41.41M $42.19M
YoY Change -3.48% -3.33% -3.27%
Long-Term Investments $67.13M $68.86M $72.02M
YoY Change 34.66%
Other Assets $86.71M $113.3M $95.15M
YoY Change -28.97% -37.47% 10.09%
Total Long-Term Assets $2.391B $2.453B $2.593B
YoY Change -9.71% -9.3% -4.87%
TOTAL ASSETS
Total Short-Term Assets $271.1M $252.9M $278.7M
Total Long-Term Assets $2.391B $2.453B $2.593B
Total Assets $2.662B $2.706B $2.872B
YoY Change -9.89% -11.65% -6.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $28.67M $14.44M $23.67M
YoY Change 34.15% -49.24% 56.79%
Accrued Expenses $54.83M $59.24M $43.40M
YoY Change -19.33% 28.59% 23.39%
Deferred Revenue
YoY Change
Short-Term Debt $15.00M $0.00 $0.00
YoY Change
Long-Term Debt Due $15.00M $11.30M $16.50M
YoY Change -9.09% -31.52% 0.0%
Total Short-Term Liabilities $131.6M $119.0M $116.3M
YoY Change -7.08% -6.18% 21.57%
LONG-TERM LIABILITIES
Long-Term Debt $1.467B $1.471B $1.468B
YoY Change -0.22% -6.48% -7.03%
Other Long-Term Liabilities $16.03M $16.92M $15.39M
YoY Change -2.05% -2.39% -19.87%
Total Long-Term Liabilities $16.03M $16.92M $15.39M
YoY Change -2.05% -2.39% -19.87%
TOTAL LIABILITIES
Total Short-Term Liabilities $131.6M $119.0M $116.3M
Total Long-Term Liabilities $16.03M $16.92M $15.39M
Total Liabilities $1.774B $1.781B $1.786B
YoY Change -2.84% -7.13% -5.27%
SHAREHOLDERS EQUITY
Retained Earnings -$235.4M -$233.6M -$83.12M
YoY Change 393.04% 518.58% -293.67%
Common Stock $1.089B $1.105B $1.127B
YoY Change -3.14% -1.83% 0.01%
Preferred Stock
YoY Change
Treasury Stock (at cost) $1.000M $900.0K
YoY Change -75.68%
Treasury Stock Shares
Shareholders Equity $888.1M $925.0M $1.086B
YoY Change
Total Liabilities & Shareholders Equity $2.662B $2.706B $2.872B
YoY Change -9.89% -11.65% -6.68%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2023 Q1
OPERATING ACTIVITIES
Net Income $38.02M -$1.642M $9.775M
YoY Change -4805.82% -176.41% 246.14%
Depreciation, Depletion And Amortization $52.80M $76.83M $75.82M
YoY Change -30.29% 0.56% 0.21%
Cash From Operating Activities $87.81M $71.10M $68.94M
YoY Change -2.72% -20.02% 4.82%
INVESTING ACTIVITIES
Capital Expenditures $16.19M $12.00M $22.91M
YoY Change -38.94% -187.35% 68.82%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$10.00M
YoY Change
Cash From Investing Activities -$16.19M -$12.00M -$32.91M
YoY Change -38.94% -12.65% 142.52%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -68.65M -93.50M -$77.96M
YoY Change -38.26% 12.62% -44.84%
NET CHANGE
Cash From Operating Activities 87.81M 71.10M $68.94M
Cash From Investing Activities -16.19M -12.00M -$32.91M
Cash From Financing Activities -68.65M -93.50M -$77.96M
Net Change In Cash 2.974M -34.40M -$42.18M
YoY Change -106.27% 337.1% -52.55%
FREE CASH FLOW
Cash From Operating Activities $87.81M $71.10M $68.94M
Capital Expenditures $16.19M $12.00M $22.91M
Free Cash Flow $71.63M $59.10M $46.04M
YoY Change 12.34% -42.42% -11.81%

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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-102151000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
168770000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
320913000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
67877000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
218762000 usd
us-gaap Interest Paid Net
InterestPaidNet
72514000 usd
us-gaap Interest Paid Net
InterestPaidNet
45236000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2852000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1332000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
5051000 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
4282000 usd
CY2023Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1087000 usd
CY2022Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
0 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
5259000 usd
us-gaap Employee Service Share Based Compensation Allocation Of Recognized Period Costs Capitalized Amount
EmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsCapitalizedAmount
3326000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Thereafter
LessorOperatingLeasePaymentsToBeReceivedThereafter
56017000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
147158000 usd
us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
15900000 usd
us-gaap Interest Expense
InterestExpense
14700000 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
41382000 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
30759000 usd
CY2023Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
1005000 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
71136000 usd
irdm Launch Service Costs
LaunchServiceCosts
40000000 usd
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y9M3D
CY2022Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
46855000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
1365000 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
9.70
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
67877000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
168770000 usd
CY2023Q3 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
5400000 usd
us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
16100000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
5361000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
21445000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
21445000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
21445000 usd
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
21445000 usd
CY2023Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
37277000 usd
CY2022Q3 us-gaap Interest Costs Incurred
InterestCostsIncurred
19844000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
80584000 usd
us-gaap Interest Costs Incurred
InterestCostsIncurred
51076000 usd
CY2023Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1087000 usd
CY2022Q3 us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
1211000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3327000 usd
us-gaap Amortization Of Financing Costs And Discounts
AmortizationOfFinancingCostsAndDiscounts
3593000 usd
CY2023Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1121000 usd
CY2022Q3 us-gaap Interest Costs Capitalized
InterestCostsCapitalized
725000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
3847000 usd
us-gaap Interest Costs Capitalized
InterestCostsCapitalized
1589000 usd
CY2023Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
700000 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
300000 usd
CY2023Q3 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
9600000 usd
us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
26300000 usd
CY2022Q3 us-gaap Derivative Gain On Derivative
DerivativeGainOnDerivative
1800000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
2011000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
25537000 usd
us-gaap Unrealized Gain Loss On Cash Flow Hedging Instruments
UnrealizedGainLossOnCashFlowHedgingInstruments
2416000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
63971000 usd
CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
621000 usd
CY2022Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
7740000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
761000 usd
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
19392000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
13030297 shares
irdm Share Base Compensation Award Reduction In Shares Available For Issuance By Shares Issued Pursuant To Any Appreciation Award
ShareBaseCompensationAwardReductionInSharesAvailableForIssuanceBySharesIssuedPursuantToAnyAppreciationAward
1 shares
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
1
irdm Share Base Compensation Award Reduction In Shares Available For Issuance By Shares Issued Pursuant To Any Stock Award That Is Not An Appreciation Award
ShareBaseCompensationAwardReductionInSharesAvailableForIssuanceBySharesIssuedPursuantToAnyStockAwardThatIsNotAnAppreciationAward
1.8 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1185000 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.97
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y7M20D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
49094000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod
4000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Period Increase Decrease Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingPeriodIncreaseDecreaseWeightedAverageExercisePrice
10.25
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
486000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.72
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
26420000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
695000 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.54
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y7M28D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
23616000 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1681000 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.35
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P3Y3M10D
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
53698000 usd
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
314000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
7.78
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercises In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue
11244000 usd
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
2000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
14.24
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1365000 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.70
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y9M21D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
47312000 usd
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
1345000 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.52
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P2Y9M21D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
47310000 usd
CY2023Q3 irdm Total Authorized Preferred Stock Number
TotalAuthorizedPreferredStockNumber
2000000 shares
CY2023Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2015Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
1500000 shares
CY2023Q3 us-gaap Preferred Stock Share Subscriptions
PreferredStockShareSubscriptions
500000 shares
CY2023Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.13
us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
48800000 usd
CY2023Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1100000 usd
CY2023Q3 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
1400000 shares
us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
3400000 shares
CY2023Q3 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
73800000 usd
us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
193000000 usd
CY2023Q3 irdm Treasury Stock Value Tax
TreasuryStockValueTax
700000 usd
irdm Treasury Stock Value Tax
TreasuryStockValueTax
1200000 usd
CY2023Q3 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
22000 shares
CY2023Q3 us-gaap Treasury Stock Value
TreasuryStockValue
900000 usd
CY2022Q3 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
1800000 shares
us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
6500000 shares
CY2022Q3 us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
76500000 usd
us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
245700000 usd
CY2023Q3 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
385700000 usd
CY2023Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
3300000 usd
CY2022Q3 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5500000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
25100000 usd
us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
21100000 usd
CY2023Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-6200000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
-35000000 usd
CY2023Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-6000000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-16700000 usd
CY2023Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.975 rate
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.477 rate
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 rate
CY2022Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
100000 usd
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
10500000 usd
CY2022Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2100000 usd
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1000000 usd
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 rate
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-1642000 usd
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2149000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-22608000 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
9530000 usd
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
125176000 shares
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
127697000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
126100000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
128800000 shares
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
125176000 shares
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
129075000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
126100000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
130284000 shares
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.02
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.07
CY2023Q3 us-gaap Increase Decrease In Due From Related Parties Current
IncreaseDecreaseInDueFromRelatedPartiesCurrent
3700000 usd
CY2021Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
300000000 usd
CY2022Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
300000000 usd

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