Iridium Communications Inc. reported its financial results for the fourth quarter and full year ended December 31, 2025, and issued its full-year 2026 outlook. The company announced total revenue of $212.9 million for Q4 2025, net income of $24.9 million, and provided guidance for 2026 including expected OEBITDA of $480 million to $490 million.
Key takeaways
Q4 2025 total revenue was $212.9 million, consisting of $158.9 million service revenue and $54.0 million equipment and engineering revenue.
Q4 2025 net income was $24.9 million ($0.24 per diluted share), down from $36.3 million ($0.32 per diluted share) in Q4 2024.
Full-year 2025 total revenue was $871.7 million, up 5% from 2024, with net income of $114.4 million.
The company ended Q4 2025 with 2,537,000 total billable subscribers, up 3% year-over-year.
2026 guidance projects total service revenue growth of flat to 2% and OEBITDA of $480 million to $490 million.
The company ended Q4 2025 with $96.5 million cash, $1.8 billion gross debt, and net leverage of 3.4 times OEBITDA.