Iridium Communications (IRDM) Reports Q2 Net Loss of $30.74M

Iridium Communications (NASDAQ: IRDM) reported Q2 net loss of $30.74M. Revenue for the quarter came in at $193.1 million versus the consensus estimate of $198.42 million.

The company guided:

• Total service revenue growth between 9% and 11% for full-year 2023. Total service revenue for 2022 was $534.7 million.
• Full-year 2023 OEBITDA between $455 million and $465 million. OEBITDA for 2022 was $424.0 million.
• Negligible cash taxes in 2023. Cash taxes are expected to be negligible through approximately 2024.
• Net leverage of between 2.5 and 3.5 times OEBITDA at the end of 2023, assuming the completion of the Company\'s total $600.0 million share repurchase authorization and the payment of four quarters of dividends. Net leverage was 3.2 times OEBITDA at December 31, 2022.

For earnings history and earnings-related data on Iridium Communications (IRDM) click here.

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