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Iridium Communications Inc.

FY2025 operating evidence for the Resilient positioning, navigation and timing investment brief. This is analytical diligence, not a recommendation or a live valuation.

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Reporting periodFY2025Year ended Dec 31, 2025
Official filingForm 10-KFiled Feb 12, 2026
Evidence statusReady with limitationsRequired filing metrics complete
Valuation statusUnavailablePublic market entitlement unverified
Overview

The filing in five decision anchors

Reported facts and derived measures are labeled separately.

Revenue$871.7MFiled fact · FY2025
Operating EBITDA$446.2MDerived metric · FY2025
Free cash flow$299.8MDerived metric · FY2025
Net debt$1.7BDerived metric · FY2025
Return on invested capital8.6%Derived ratio · FY2025
Operating scale4 / 4

Reported scale and the year-over-year footprint of the equity base.

Profitability8 / 10

Filed earnings plus ratios derived only from cited filing inputs.

Cash generation5 / 5

Cash produced after capital expenditure, without a maintenance-capex assumption.

Balance sheet4 / 4

Year-end liquidity, debt load, and leverage against operating earnings.

Valuation boundary

No market value crosses an unverified license.

No current price is shown or implied.

Unavailable

Market capitalization

Unavailable until a dated closing price has verified commercial-display and redistribution rights.

Unavailable

Enterprise value

Unavailable because a licensing-safe market capitalization is not available; no price or share-count substitute is used.

Unavailable

Enterprise value / operating EBITDA

Unavailable until the market-value inputs are licensed, date-aligned, and eligible for public display.

Unavailable

Free cash flow yield

Unavailable until a licensing-safe market capitalization can be paired with the filing-backed cash-flow period.

Before valuation can be displayed, My Investor AI requires a dated closing-price observation, verified point-in-time shares, aligned filing inputs, and documented commercial-display and redistribution rights.

Deeper metric detailOpen the complete 25-metric evidence ledger21 available · 4 unavailable

Operating scale

Reported scale and the year-over-year footprint of the equity base.

Derived ratiofresh · 210 days old

Revenue growth

4.9%
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

Year-over-year change in GAAP fiscal-year revenue.

Filed factfresh · 210 days old

Diluted share count

107.8M
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

Weighted-average diluted common shares for the fiscal year.

Derived ratiofresh · 210 days old

Share dilution

-10%
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

Year-over-year change in weighted-average diluted shares; a negative value indicates net share-count reduction.

Profitability

Filed earnings plus ratios derived only from cited filing inputs.

Unavailablefresh · 210 days old

Gross profit

Unavailable
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

GAAP revenue less directly classified cost of revenue when the issuer reports a comparable gross-profit subtotal.

Limitation: The issuer does not report a directly comparable GAAP gross-profit fact. A cost concept that excludes depreciation and amortization was not substituted.

Unavailablefresh · 210 days old

Gross margin

Unavailable
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

Comparable GAAP gross profit divided by GAAP revenue.

Limitation: Gross margin is unavailable because the filing does not report a directly comparable gross-profit subtotal.

Filed factfresh · 210 days old

Operating income

$236M
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

GAAP income from operations for the fiscal year.

Derived ratiofresh · 210 days old

Operating margin

27.1%
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

GAAP operating income divided by GAAP revenue.

Derived metricfresh · 210 days old

Operating EBITDA

$446.2M
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

Operating income plus filing-reported depreciation and amortization; excludes issuer-specific adjustments.

Derived ratiofresh · 210 days old

Operating EBITDA margin

51.2%
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

Operating EBITDA divided by GAAP revenue.

Filed factfresh · 210 days old

Net income available to common

$114.4M
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

GAAP net income available to common stockholders.

Filed factfresh · 210 days old

Diluted earnings per share

$1.06
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

GAAP diluted earnings per common share for the fiscal year.

Derived ratiofresh · 210 days old

Interest coverage

2.67×
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

GAAP operating income divided by non-operating interest expense.

Derived ratiofresh · 210 days old

Return on invested capital

8.6%
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

After-tax operating profit divided by average debt plus equity less cash, using the filing-reported effective tax rate.

Cash generation

Cash produced after capital expenditure, without a maintenance-capex assumption.

Filed factfresh · 210 days old

Operating cash flow

$400.1M
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

GAAP net cash provided by operating activities.

Filed factfresh · 210 days old

Capital expenditures

$100.3M
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

Cash paid to acquire property, plant, and equipment; not assumed to equal maintenance capital spending.

Derived metricfresh · 210 days old

Free cash flow

$299.8M
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

Operating cash flow less cash capital expenditures, before financing flows and without a maintenance-capex adjustment.

Derived ratiofresh · 210 days old

Cash conversion

262.1%
Period
FY2025
Source date
Dec 31, 2025
Definition and evidence

Free cash flow divided by net income available to common; unavailable when the denominator is non-positive.

Balance sheet

Year-end liquidity, debt load, and leverage against operating earnings.

Filed factfresh · 210 days old

Cash and equivalents

$96.5M
Period
FY2025 year-end
Source date
Dec 31, 2025
Definition and evidence

GAAP cash and cash equivalents at fiscal year-end.

Filed factfresh · 210 days old

Total debt

$1.8B
Period
FY2025 year-end
Source date
Dec 31, 2025
Definition and evidence

Current and non-current debt at fiscal year-end.

Derived ratiofresh · 210 days old

Net debt to operating EBITDA

3.76×
Period
FY2025 year-end
Source date
Dec 31, 2025
Definition and evidence

Fiscal year-end net debt divided by fiscal-year operating EBITDA.

Valuation

Market-dependent measures remain closed until public-display rights are verified.

UnavailableFreshness unavailable

Enterprise value to operating EBITDA

Unavailable
Period
No market observation
Source date
Unavailable
Definition and evidence

Market capitalization plus total debt less cash, divided by operating EBITDA, all aligned to a disclosed market close.

Limitation: This dated valuation is not eligible for public output because licensing-safe market evidence is unavailable. Licensing-safe market evidence is unavailable, so this valuation remains unavailable.

No public market evidence is attached.

UnavailableFreshness unavailable

Free cash flow yield

Unavailable
Period
No market observation
Source date
Unavailable
Definition and evidence

Fiscal-year free cash flow divided by market capitalization at a disclosed market close.

Limitation: This dated valuation is not eligible for public output because licensing-safe market evidence is unavailable. Licensing-safe market evidence is unavailable, so this valuation remains unavailable.

No public market evidence is attached.

My Investor AI conclusion

What the evidence supports—and what it does not.

My Investor AI verified all 21 required FY2025 metrics from cited filing inputs; optional gross-profit and market-valuation coverage remains explicitly separate.

The filing establishes company-level scale, profitability, cash generation, and leverage. It does not establish that Resilient PNT is financially material to Iridium, so the canonical relationship remains a hypothesis and materiality remains unverified.

Thesis-break conditions

  • A restatement or amendment changes a cited filing fact.
  • A required metric crosses its stale-data limit without a newer filing.
  • Official filing facts conflict across equivalent periods or units.
  • Theme-specific revenue, contract, or profit materiality remains undisclosed.
Official evidence

Source lineage stays attached.

Values use the cited annual filing or ratios derived from its compatible periods. Missing and incompatible evidence remains unavailable.

Iridium Communications Inc. FY2025 Form 10-KOpen official filing ↗Filed Feb 12, 2026 · Accession 0001418819-26-000009