Categories Earnings

Iridium Communications (NASDAQ: IRDM): Q3 2019 Earnings Snapshot

— Iridium Communications Inc. (NASDAQ: IRDM) reported its third-quarter 2019 loss of $0.14 per share versus a loss of $0.13 per share expected. The loss widened year-over-year due to higher depreciation and amortization expense.

— Total revenues increased by 6% to $144.8 million versus $142.05 million expected. Service revenue, which represents primarily recurring revenue from Iridium’s growing subscriber base, grew by 10%.

Earnings Update by AlphaStreet

— Total billable subscribers grew 16% year-over-year, driven by growth in commercial and government IoT customers.

— Commercial service revenue rose by 8% helped by increased revenues from IoT and hosted payload and other data services. Commercial voice and data subscribers were up 1% from the year-ago period to 371,000 subscribers.

— Commercial voice and data average revenue per user was $48, up from $47 last year, as a result of growing usage associated with new activations of Iridium Certus terminals.

— Looking ahead into the full year 2019, the company expects total service revenue in the range of $445 million to $450 million, up from the previous forecast of about $440 million.

— The operational EBITDA is now predicted to be about $330 million in 2019 compared to the prior outlook range of $325 million to $335 million.

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