Iridium Reports USD 1.6m Net Loss in Q3 2023.
INTERNET BUSINESS NEWS-(C)1995-2023 M2 COMMUNICATIONS
Voice and data satellite communications Iridium Communications Inc. (NASDAQ: IRDM) has reported a net loss of USD 1.6 m, or USD 0.01 per diluted share, for the third quarter of 2023, compared to net income of USD 2.1 m, or USD 0.02 per diluted share, for the third quarter of 2022, the company said.
Operational EBITDA for the third quarter was USD 121.3 m, as compared to USD 107.8 m for the prior-year period, representing a year-over-year increase of 12%.
Iridium reported third-quarter total revenue of USD 197.6m, which consisted of USD 152m of service revenue and USD 45.6m of revenue related to equipment sales and engineering and support projects.
Total revenue increased 7% versus the comparable period of 2022, while service revenue grew 9% from the year-ago period.
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