2023-07-25 07:05:48 ET
- Iridium Communications press release ( NASDAQ: IRDM ): Q2 EPS of -$0.24 may not be comparable to consensus of $0.04.
- The net loss was primarily the result of the write-off of Iridium's remaining ground spare satellite following the successful launch of five of its six ground spare satellites in May.
- Revenue of $193.1M (+10.4% Y/Y) misses by $5.32M .
- Iridium reported second-quarter total revenue of $193.1 million, which consisted of $145.1 million of service revenue and $48.0 million of revenue related to equipment sales and engineering and support projects.
- The Company ended the quarter with 2,140,000 total billable subscribers, which compares to 1,875,000 for the year-ago period and is up from 2,051,000 for the quarter ended March 31, 2023. Total billable subscribers grew 14% year-over-year, driven by growth in commercial IoT.
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Iridium CommunicationsEPS of -$0.24, revenue of $193.1M misses by $5.32M