Iridium reported second quarter 2026 revenue of $225.2 million, an increase of 4% year-over-year which beat analyst estimates. However, earnings per share of $0.09 missed expectations, primarily due to transaction costs associated with recent and pending acquisitions.
Key Highlights
- Total service revenue, which accounts for 72% of total revenue, increased 4% to $161.3 million but missed analyst expectations.
- The overall revenue beat was supported by stronger-than-expected results in Equipment revenue, which grew 7% to $20.8 million, and Engineering and Support revenue, up 3% to $43.1 million.
- The company's subscriber base continued to expand, with total billable subscribers growing 6% year-over-year to 2.63 million, led by a 9% increase in commercial IoT subscribers.