Iridium communications inc. (IRDM)
Income statement / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Mar'11Sep'10Jun'10
Revenue:
Total revenue

145,287

138,874

144,785

143,100

133,685

132,165

136,764

134,931

119,148

115,469

116,547

111,604

104,426

107,449

112,794

109,195

104,202

106,418

106,034

101,919

97,007

100,511

107,493

102,521

98,032

98,207

100,569

94,684

89,189

92,284

100,441

97,321

93,474

94,977

102,124

95,903

91,303

94,527

83,974

Operating expenses:
Cost of Services, Net

21,978

23,249

23,581

25,607

22,521

22,194

22,226

22,644

18,952

21,187

20,883

21,368

16,958

16,671

15,936

16,448

15,903

17,114

13,990

14,320

14,882

14,780

16,372

16,730

14,203

15,888

14,776

14,206

14,476

12,946

14,000

15,988

18,003

16,714

17,770

19,758

16,939

17,613

19,021

Research and development

2,444

3,592

2,822

4,285

3,611

7,222

5,058

5,566

4,583

5,025

3,981

3,014

3,227

4,469

5,038

4,013

2,559

4,116

3,480

4,422

4,126

5,911

4,910

4,645

2,121

4,624

3,125

1,741

1,659

2,784

3,623

3,429

5,689

7,915

3,122

3,379

4,268

2,311

8,132

Selling, general and administrative

20,825

25,421

22,934

20,969

23,841

23,830

27,255

24,266

22,495

26,306

18,471

20,411

19,217

22,419

18,767

22,303

19,063

24,645

17,534

18,742

20,524

22,680

18,277

18,493

19,186

20,164

18,290

18,399

18,365

15,019

16,452

17,970

18,148

15,509

16,457

16,297

17,419

16,312

16,703

Depreciation and amortization

75,944

75,088

74,575

75,128

72,914

67,111

62,140

50,491

38,465

65,614

22,944

20,201

13,507

11,806

11,809

12,843

12,936

12,727

12,932

12,820

13,355

13,154

19,677

19,672

20,266

18,775

19,377

18,597

18,231

18,054

20,484

18,368

24,204

23,867

26,784

23,664

23,331

22,657

22,449

Total operating expenses

133,465

138,873

136,774

139,359

135,318

132,307

130,753

118,586

99,709

129,419

78,465

75,862

63,013

65,853

63,026

67,466

60,924

154,961

59,495

59,585

63,534

68,670

74,480

72,808

69,688

71,950

71,118

65,836

63,851

61,260

68,753

69,047

79,386

79,218

77,926

75,160

75,002

73,691

78,016

Gain Loss From Derecognition Of Purchase Accounting Liability And Operations And Maintenance Agreement

-

-

-

-

-

-

-

-

-

11

0

0

14,189

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Operating income (loss)

11,822

1

8,011

3,741

-1,633

-142

6,011

16,345

19,439

-13,950

38,082

35,742

55,602

41,596

49,768

41,729

43,278

-48,543

46,539

42,334

33,473

31,841

33,013

29,713

28,344

26,257

29,451

28,848

25,338

31,024

31,688

28,274

14,088

15,759

24,198

20,743

16,301

20,836

5,958

Other expense, net:
Interest expense, net

-26,444

-30,320

-30,493

-28,986

-25,597

-17,854

-20,145

-12,985

-4,165

1,417

1,246

832

833

676

700

800

758

777

263

792

1,237

1,016

1,262

725

637

441

557

641

637

484

399

121

68

375

278

262

285

81

228

Loss on Extinguishment of Debt

30,209

-

-

-

207

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Undrawn credit facility fees

-

-

-

-

-

-

-

-

-

-

-

-

25

-

305

368

503

668

774

930

917

1,412

1,454

1,460

1,499

1,706

1,886

2,020

2,096

2,383

2,488

2,582

2,779

1,959

3,063

3,204

4,298

-

-

Other expense, net

447

-207

26

-626

-326

416

-379

65

37

-94

-20

-56

-62

-1,499

39

333

-13

-357

-112

215

-214

230

-365

-3,789

-350

9,369

-1,101

-869

-1,396

-890

-67

-31

92

-36

-18

36

-78

-6

-22

Total other expense, net

-56,206

-142,030

-30,467

-29,612

-26,130

-24,730

-20,524

-12,920

-4,128

1,348

1,226

776

746

353

434

765

242

-248

-623

77

106

-166

-557

-4,524

-1,212

8,104

-2,430

-2,248

-2,855

-2,789

-2,156

-2,492

-2,619

-1,620

-2,803

-2,906

-4,091

75

206

Loss before income taxes

-44,384

-142,029

-22,456

-25,871

-27,763

-24,872

-14,513

3,425

15,311

-12,602

39,308

36,518

56,348

41,949

50,202

42,494

43,520

-48,791

45,916

42,411

33,579

31,675

32,456

25,189

27,132

34,361

27,021

26,600

22,483

28,235

29,532

25,782

11,469

14,139

21,395

17,837

12,210

20,911

6,164

Income tax benefit

-12,682

-34,172

-4,444

-7,765

-9,739

-17,290

-1,657

7,843

3,839

-154,479

10,055

11,740

18,400

17,846

18,647

15,640

15,000

20,640

16,369

16,423

12,560

8,636

12,068

10,170

10,589

18,776

10,436

11,187

7,549

11,524

11,693

8,119

-949

5,099

9,382

6,154

3,911

10,225

2,964

Net loss

-31,702

-107,857

-18,012

-18,106

-18,024

-7,582

-12,856

-4,418

11,472

141,877

29,253

24,778

37,948

24,103

31,555

26,854

28,520

-69,431

29,547

25,988

21,019

23,039

20,388

15,019

16,543

15,585

16,585

15,413

14,934

16,711

17,839

17,663

12,418

9,040

12,013

11,683

8,299

10,686

3,200

Dividends, Preferred Stock, Total

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,750

-

-

-

-

-

-

-

-

-

-

Series A Preferred Stock dividends

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

-

-

-

-

-

-

Net loss attributable to common stockholders

-31,702

-107,857

-18,012

-20,203

-20,121

-9,679

-14,940

-6,527

7,613

138,018

25,394

20,919

34,089

20,244

27,696

22,995

24,661

-73,290

25,688

22,129

17,160

19,180

16,529

12,167

14,793

13,835

14,835

13,663

13,184

15,019

17,839

17,663

12,418

-

-

-

-

-

-

Weighted Average Number of Shares Outstanding, Basic and Diluted

132,645

-

131,688

-

113,038

-

111,592

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Earnings Per Share, Basic and Diluted

-0.24

-

-0.14

-

-0.18

-

-0.13

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Weighted average shares outstanding - basic

-

-

-

123,315

-

-

-

111,111

100,686

98,604

98,290

97,989

96,853

96,232

96,067

95,913

95,656

95,480

95,317

95,064

94,527

94,397

94,048

86,793

77,082

77,006

76,962

76,900

76,768

75,749

74,376

73,430

73,401

73,423

73,354

71,519

70,360

70,303

70

Weighted average shares outstanding - diluted

-

-

-

123,315

-

-

-

111,111

104,345

132,019

127,188

126,943

126,370

129,310

123,690

123,465

123,035

12,183

122,696

123,196

122,313

132,720

121,516

95,653

87,711

87,526

87,591

87,530

87,397

85,199

76,131

76,061

75,337

73,357

74,558

73,653

72,668

74,040

72

Net income (loss) attributable to common stockholders per share - basic

-

-

-

-0.16

-

-

-

-0.06

0.08

1.41

0.26

0.21

0.35

0.21

0.29

0.24

0.26

-0.77

0.27

0.23

0.18

0.20

0.18

0.14

0.19

0.18

0.19

0.18

0.17

0.20

0.24

0.24

0.17

0.13

0.16

0.16

0.12

0.15

0.05

Net income (loss) attributable to common stockholders per share - diluted

-

-

-

-0.16

-

-

-

-0.06

0.07

1.09

0.23

0.20

0.30

0.18

0.26

0.22

0.23

-0.71

0.24

0.21

0.17

0.19

0.17

0.14

0.19

0.17

0.19

0.18

0.17

0.21

0.23

0.23

0.16

0.13

0.16

0.16

0.11

0.14

0.04

Comprehensive loss:
Net loss

-31,702

-107,857

-18,012

-18,106

-18,024

-7,582

-12,856

-4,418

11,472

141,877

29,253

24,778

37,948

24,103

31,555

26,854

28,520

-69,431

29,547

25,988

21,019

23,039

20,388

15,019

16,543

15,585

16,585

15,413

14,934

16,711

17,839

17,663

12,418

9,040

12,013

11,683

8,299

10,686

3,200

Foreign currency translation adjustments, net of tax

-3,986

749

-864

1,440

726

-1,036

-1,070

-3,003

92

-194

1,059

-1,448

2,247

330

222

1,068

1,867

-1,601

-2,797

22

-1,401

-2,221

-534

274

156

38

-94

-188

-78

-52

5

-117

32

-111

-375

140

31

-

-

Unrealized gain (loss) on marketable securities, net of tax

-11,888

0

0

0

0

0

-26

55

-13

-15

8

-3

-4

-29

-108

138

129

-294

-160

27

61

110

-78

2

60

51

219

-271

-9

0

0

0

0

-

-

-

-

-

-

Comprehensive loss

-47,576

-107,229

-18,876

-16,666

-17,298

-8,618

-13,952

-7,366

11,551

141,668

30,320

23,327

40,191

24,404

31,669

28,060

30,516

-71,326

26,590

26,037

19,679

20,928

19,776

15,295

16,759

15,674

16,710

14,954

14,847

16,659

17,844

17,546

12,450

8,929

11,638

11,823

8,330

-

-

Dividends, Preferred Stock [Abstract]
Services
Total revenue

115,975

113,557

115,853

110,797

106,951

107,308

105,741

103,966

89,742

91,437

89,902

86,623

81,773

84,197

87,316

83,486

79,823

82,382

81,200

78,016

75,424

78,209

81,568

76,217

73,430

76,523

75,381

71,401

68,787

66,755

71,403

68,485

66,848

66,635

69,361

65,156

61,170

62,698

59,078

Subscriber equipment
Total revenue

22,263

17,053

21,375

23,420

21,008

20,071

26,130

25,865

25,782

19,377

21,784

18,844

17,114

16,389

19,900

20,362

17,560

17,127

21,180

18,768

16,540

17,112

20,550

20,333

20,157

15,904

20,253

19,815

17,331

22,041

26,371

23,914

21,540

22,477

25,909

21,913

24,410

27,075

20,264

Cost of Goods and Services Sold

12,274

11,523

12,862

13,370

12,431

11,950

14,074

15,619

15,214

11,287

12,186

10,868

10,104

10,488

11,476

11,859

10,463

9,320

11,559

9,281

10,647

12,145

15,244

13,268

13,912

12,499

15,550

12,893

11,120

12,457

14,194

13,292

13,342

15,213

13,793

12,062

13,045

14,798

11,711

Engineering and support services
Total revenue

7,049

8,264

7,557

8,883

5,726

4,786

4,893

5,100

3,624

4,655

4,861

6,137

5,539

6,863

5,578

5,347

6,819

6,909

3,654

5,135

5,043

5,190

5,375

5,971

4,445

5,780

4,935

3,468

3,071

3,488

2,667

4,922

5,086

5,865

6,854

8,834

5,723

4,754

4,632

Revenue from Contract with Customer, Excluding Assessed Tax

7,049

-

-

-

5,726

-

-

-

-

-

4,861

6,137

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Series B Preferred Stock
Preferred Stock Dividends, Income Statement Impact

0

-

-

-

2,100

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Preferred stock dividends, excluding cumulative dividends

-

-

0

2,097

-

-

0

0

2,109

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Series A Preferred Stock
Preferred stock dividends, excluding cumulative dividends

-

-

0

0

-

-

0

0

1,750

-

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Series A Preferred Stock [Member]
Preferred stock dividends, undeclared

-

-

-

-

-

-

-

-

-

-

1,750

1,750

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Series B Preferred Stock [Member]
Preferred stock dividends, undeclared

-

-

0

0

-

2,091

2,100

2,109

0

-

2,109

2,109

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-