NASDAQ$IRDM
Iridium Communications Inc · Q2 2021 earnings
Q2 2021 earnings · · Investor relations
Briefing
Iridium reported strong second-quarter results, driven by subscriber growth and increased service revenue, and updated its full-year outlook.
Iridium Communications Inc. reported a net income of $3.8 million for the second quarter of 2021, a significant improvement compared to the net loss of $12.4 million in the same period last year. Total revenue increased by 7% to $149.9 million, with service revenue reaching $121.3 million, also up 7% year-over-year. The company's subscriber base grew to 1,616,000, driven by strong demand for IoT and broadband services. Iridium raised its full-year outlook for service revenue growth to between 4% and 5%.
- Iridium posted record subscriber growth in Q2 2021.
- Total revenue and service revenue both increased 7% year-over-year.
- Commercial service revenue was $95.6 million, up 8% from last year.
- The company increased full-year 2021 service revenue growth outlook to between 4% and 5%.
Headline financials
Revenue & EPS history
Iridium · Revenue · Quarterly
$150M
Revenue by segment
Iridium · $139M total across 6 segments · Q2 2021
- Commercial Voice and Data$43.3M+3.6%31.1%
- Commercial IoT Data$27.2M+20.3%19.5%
- Government Services$25.8M+3.0%18.5%
- Subscriber Equipment$21.8M+9.8%15.6%
- Commercial Hosted Payload & Other Data$14.4M-6.5%10.4%
- Engineering and Support Services$6.84M-2.4%4.9%
Forward guidance
The Company updated its full-year 2021 outlook for total service revenue and currently anticipates total service revenue growth of between 4% and 5% for full-year 2021 and full-year 2021 OEBITDA between $365 million and $375 million.
Tailwinds
- Total service revenue growth of between 4% and 5% for full-year 2021
- Full-year 2021 OEBITDA between $365 million and $375 million
- Negligible cash taxes in 2021
- Cash taxes are expected to be negligible through approximately 2023
- Net leverage of below 3.5 times OEBITDA at the end of 2022, assuming $300.0 million in share repurchases.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2021
+1.7%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+1.8%
Avg return
30 days after
55%
36 / 65 earnings
Positive
+25.9%
Q3 2015
Best reaction
-18.1%
Q2 2013
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.8% | -7.5% | +21.0% | |
| Q4 2025 | +21.3% | +27.5% | +34.7% | |
| Q3 2025 | -7.6% | -11.9% | -18.4% | |
| Q1 2025 | -6.9% | -0.2% | +10.0% | |
| Q4 2024 | +15.4% | +17.1% | -0.5% | |
| Q3 2024 | +4.6% | -4.3% | -6.3% | |
| Q2 2024 | +2.1% | +12.2% | +2.0% | |
| Q1 2024 | +10.9% | +16.3% | +27.4% | |
| Q4 2023 | -14.0% | -16.6% | -22.9% | |
| Q3 2023 | -12.1% | -13.7% | -14.9% | |
| Q2 2023 | -15.0% | -9.8% | -19.9% | |
| Q1 2023 | +14.7% | +9.9% | +2.3% | |
| Q4 2022 | +13.8% | +11.8% | +3.8% | |
| Q3 2022 | +0.1% | +1.7% | +10.0% | |
| Q2 2022 | +10.0% | +12.3% | +16.8% | |
| Q1 2022 | +4.2% | -5.8% | -9.8% | |
| Q4 2021 | +4.9% | +5.2% | +15.0% | |
| Q3 2021 | +5.3% | +2.3% | +1.9% | |
| Q2 2021 | +10.6% | +8.9% | +3.5% | |
| Q1 2021 | -2.0% | -2.1% | -2.7% | |
| Q4 2020 | +0.0% | +3.2% | -12.7% | |
| Q3 2020 | -0.5% | -3.5% | +14.6% | |
| Q2 2020 | +3.4% | +0.1% | +3.8% | |
| Q1 2020 | -3.8% | -9.0% | -4.9% | |
| Q4 2019 | +1.7% | -5.9% | -19.5% | |
| Q3 2019 | +0.4% | -1.6% | -6.4% | |
| Q2 2019 | +4.6% | +7.7% | -2.7% | |
| Q1 2019 | -0.3% | +2.3% | -15.3% | |
| Q4 2018 | +5.6% | +2.6% | +20.6% | |
| Q3 2018 | +0.6% | +2.3% | +22.3% | |
| Q2 2018 | +3.7% | +7.1% | +14.7% | |
| Q1 2018 | -2.4% | -6.8% | +6.4% | |
| Q4 2017 | -0.4% | -6.0% | -9.2% | |
| Q3 2017 | +16.5% | +10.1% | +10.6% | |
| Q2 2017 | -5.0% | -9.2% | -5.5% | |
| Q1 2017 | +4.4% | +5.4% | -1.0% | |
| Q4 2016 | -2.7% | -4.4% | -2.2% | |
| Q3 2016 | +1.2% | +0.6% | +13.1% | |
| Q2 2016 | -2.7% | -6.1% | -8.9% | |
| Q1 2016 | -0.5% | — | — | |
| Q4 2015 | -2.4% | — | — | |
| Q3 2015 | +25.9% | — | — | |
| Q2 2015 | -3.9% | — | — | |
| Q1 2015 | -7.2% | — | — | |
| Q4 2014 | -1.3% | — | — | |
| Q3 2014 | +4.6% | — | — | |
| Q2 2014 | +2.6% | — | — | |
| Q1 2014 | +14.4% | — | — | |
| Q4 2013 | +4.3% | — | — | |
| Q3 2013 | -10.5% | — | — | |
| Q2 2013 | -18.1% | — | — | |
| Q1 2013 | +7.8% | — | — | |
| Q4 2012 | -5.7% | — | — | |
| Q3 2012 | -11.3% | — | — | |
| Q2 2012 | -17.1% | — | — | |
| Q1 2011 | -1.1% | — | — | |
| Q1 2012 | -1.1% | — | — | |
| Q4 2009 | +18.4% | — | — | |
| Q4 2011 | +18.4% | — | — | |
| Q3 2011 | +9.2% | — | — | |
| Q3 2010 | +9.2% | — | — | |
| Q2 2010 | -4.4% | — | — | |
| Q2 2011 | -4.4% | — | — | |
| Q4 2010 | -4.4% | — | — | |
| Q1 2010 | +4.5% | — | — |
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