Iridium Shares Fall on Profit Miss as Company Reaffirms 2026 Outlook

Overview

• Iridium stock fell about 5% after first‑quarter results missed profit expectations even as revenue came in slightly above forecasts.
• The quarter delivered earnings of $0.20 per share versus $0.33 expected on $219.1 million in revenue, a 2% gain from a year earlier.
• Operating EBITDA declined 5% to $116.3 million because the company shifted annual bonuses to cash, adding $4.2 million in expense this quarter and $17 million for 2026.
• Management reaffirmed 2026 guidance for flat to 2% service revenue growth and $480 million to $490 million in EBITDA, which assumes a six‑month extension of the U.S. government EMSS contract.
• The company said it is pivoting toward IoT, PNT, national security and aviation safety, with a tri‑mode 9604 IoT module planned for June and a dedicated PNT chip targeted for July, while it shifts to 3GPP standards to serve cost‑sensitive industrial markets.