2023-04-20 07:04:57 ET
- Iridium Communications press release ( NASDAQ: IRDM ): Q1 GAAP EPS of $0.08 beats by $0.06 .
- Revenue of $205.27M (+22.0% Y/Y) beats by $17.29M .
- The company ended the quarter with 2,051,000 total billable subscribers, which compares to 1,781,000 for the year-ago period and is up from 1,999,000 for the quarter ended December 31, 2022.
- Total billable subscribers grew 15% year-over-year, driven by growth in commercial IoT.
- FY2023 Outlook : Total service revenue growth between 9% and 11% for full-year 2023. Total service revenue for 2022 was $534.7 million; OEBITDA between $455 million and $465 million; Negligible cash taxes in 2023.
- Cash taxes are expected to be negligible through approximately 2024.
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Iridium Communications GAAP EPS of $0.08 beats by $0.06, revenue of $205.27M beats by $17.29M