Operational EBITDA Growth
Operational EBITDA was up 6% in the second quarter to $121.3 million, driven by a combination of revenue from engineering and support and recurring services.
Commercial IoT Revenue Growth
Commercial IoT revenue totaled $44.8 million in the second quarter, up 8% from a year earlier, reflecting broad-based adoption of IoT services.
Government Service Revenue Increase
Government Service revenue was up modestly in the second quarter to $26.8 million, reflecting the step-up in the EMSS contract with the U.S. government.
Strong Engineering and Support Revenue
Engineering and support revenue was $41.9 million in the second quarter, a strong increase from $25.8 million in the prior year period, driven by work with the Space Development Agency and new U.S. contract awards.
Ongoing Share Buyback and Dividend Increase
Iridium retired approximately 2.6 million shares of common stock during the second quarter, with a Board-approved authorization balance of $295 million. Quarterly dividends increased to $0.15 per share.