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Iridium Communications (IRDM) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 20, 2026 · Iridium Communications (IRDM) Q3 2026 earnings results →
Q3 2026 Revenue up 8% year over year to $246M · 44¢ of every $1 of revenue kept as net profit · operating margin 12.9%
Iridium Communications made $246M in Q3 2026 (+8% Y/Y): Services $187M, Engineering and support services $39.2M, Subscriber equipment $19.0M. Operating margin 12.9%, net earnings $107M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 20, 2026.
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What changed this quarter
Revenue was $245.7M in Q3 2026, up 8% year over year and up 9% from the previous quarter. Services was the largest line at 76% of revenue. Services added $22.3M year over year (up 13%), 118% of the total change. Subscriber equipment declined 11%.
Operating profit was $31.6M, a 12.9% margin (down 18.0 points year over year). Operating profit fell $38.5M even though revenue rose $18.8M versus Q3 2025, so costs grew faster than sales. Total costs grew 37% against revenue growth of 8%. The fastest-growing cost line was SG&A (+111%). Net earnings were $106.9M, up 188% year over year. The effective tax rate was 2.0%. Non-operating items added $77.5M, 71% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $95.9M (down 5% year over year), 90% of net earnings. Non-cash charges added back $62.1M of depreciation and amortization and $20.2M of share-based compensation. Working capital and other items used $93.3M. Capital expenditures of $27.4M left free cash flow of $68.5M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 20, 2026 | $246M | +8% | 12.9% | $107M | $95.9M |
| Q2 2026 | 10-Q | Jul 22, 2026 | $225M | +4% | 15.1% | $9.7M | $114M |
| Q1 2026 | 10-Q | Apr 23, 2026 | $219M | +2% | 23.2% | $21.6M | $71.6M |
| Q4 2025 | 10-K | Feb 12, 2026 | $213M | 0% | 25.9% | $24.9M | $109M |
| Q3 2025 | 10-Q | Oct 23, 2025 | $227M | +7% | 30.9% | $37.1M | $101M |
| Q2 2025 | 10-Q | Jul 24, 2025 | $217M | +8% | 23.2% | $22.0M | $130M |
| Q1 2025 | 10-Q | Apr 22, 2025 | $215M | +5% | 28.1% | $30.4M | $61.1M |
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Customers and suppliers named in filings
Sells to
- U.S. government — 29% of its revenue · Stated in 10-K (sentence) · source
About Iridium Communications
Iridium Communications Inc. (“we,” “us,” or “Iridium”) is a leading provider of global voice, data, and positioning, navigation and timing (PNT) satellite services. We are the only commercial provider of communications services offering true global coverage, connecting people, organizations and assets to and from anywhere, in real time. Our low-Earth orbit (LEO), L-band network provides specialized, reliable, weather-resilient communications services to regions of the world where terrestrial wireless or wireline networks do not exist or are limited, including remote land areas, open ocean, airways, the polar regions, and regions where the telecommunications infrastructure has been affected by political conflicts or natural disasters. In addition, our satellites have additional payloads to host specific additional services for other customers like Aireon LLC.
In its own words, from its 10-K, filed Feb 12, 2026.
Iridium Communications against its Communications Services, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +8% against the peers' median +3%. Operating margin: 12.9% against the peers' median 5.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| IRDM Iridium Communications | Q3 2026 | $246M | +8% | 12.9% |
| VSAT Viasat | Q2 FY27 | $1.2B | +3% | 0.6% |
| ECHO EchoStar | Q3 2026 | $1.1B | -69% | 13.1% |
| CALX Calix | Q3 2026 | $302M | +14% | 5.5% |
| CCOI Cogent Communications Holdings | Q3 2026 | $231M | -4% | -3.0% |
| GOGO Gogo | Q3 2026 | $213M | -5% | 8.0% |
| GSAT Globalstar | Q3 2026 | $70.9M | -4% | 10.7% |
| KVHI KVH Industries | Q3 2026 | $38.4M | +35% | -3.2% |
| ASTS AST SpaceMobile | Q2 2026 | $31.5M | 27× | -948.0% |
Source: Iridium Communications 10-Q on SEC EDGAR · CIK 1418819 · Communications Services, NEC
13F: who owns IRDM and who is buying
More on IRDM
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Iridium Communications operating margin by quarter
- Iridium Communications net income by quarter
- Iridium Communications free cash flow by quarter
- Iridium Communications R&D spending by quarter
- Iridium Communications capital expenditures by quarter
- Iridium Communications Services revenue by quarter
- Iridium Communications Engineering and support services revenue by quarter
- Iridium Communications Subscriber equipment revenue by quarter