Iridium lowers FY25 total service revenue growth view to 3% from 3%-5%

The company updated its full-year 2025 outlook for service revenue growth and OEBITDA, as well as some aspects of its long-term guidance as follows: Total service revenue growth of approximately 3% for full-year 2025. (Previously, guidance for total service revenue growth was between 3% and 5% for full-year 2025). Total service revenue for 2024 was $614.9 million. Full-year 2025 OEBITDA between $495 million and $500 million. (Previously, guidance for OEBITDA was between $490 million and $500 million for full-year 2025). OEBITDA for 2024 was $470.6 million. Cash taxes of less than $10 million per year through 2027. The Company’s longer-term cash tax rate is expected to move closer to the statutory rate in 2029. (Previously, guidance for cash taxes was for less than $10 million per year through 2026 and for the longer-term cash tax rate to move closer to the statutory rate in 2028). Net leverage below 3.5 times OEBITDA in 2025 and falling below 2.0 times OEBITDA by the end of the decade. (Previously, guidance for net leverage was below 4.0 times OEBITDA through 2026). Net leverage was 3.6 times OEBITDA at December 31, 2024.