Recent Updates — IRDM
Iridium Communications Inc. reported third-quarter 2026 total revenue of $245.7 million and net income of $106.9 million, or $0.98 per diluted share, driven by an $103.9 million gain from its acquisition of Aireon. Operational EBITDA was $135.6 million, while billable subscribers grew 6% year-over-year to 2.7 million. The company also announced that its pending acquisition by Rocket Lab received stockholder approval with 99.6% in favor and is expected to close by mid-2027 subject to regulatory approvals. Additionally, Iridium's Board of Directors approved an increase in the quarterly dividend from $0.15 to $0.16 per share starting in the fourth quarter. Iridium operates a global mobile satellite network providing voice, data, and positioning services.
Iridium Communications stockholders approved the previously announced merger agreement with Rocket Lab at a special meeting on September 24, 2026. Approximately 81.38% of outstanding shares voted in favor, with Proposal 1 (adopting the Merger Agreement) receiving 85,862,105 votes for against 318,415 against. Under the terms, Iridium shareholders will receive $27.00 in cash and Rocket Lab common stock per share, based on a notional transaction value of $54.00 per share. The combined entity is expected to close by mid-2027, pending regulatory approvals. Iridium Communications operates the world's only truly global mobile satellite network, providing voice, data, positioning, and aircraft surveillance services.
Iridium Communications Inc. filed a current report to supplement its definitive proxy statement regarding the proposed merger with Rocket Lab Corporation. The filing discloses updated financial analyses by advisor Evercore, including precedent transactions and discounted cash flow models for Iridium, as well as comparable company and future share price analyses for Rocket Lab. These updates reflect valuation ranges based on LTM Adjusted EBITDA of approximately $527 million and net debt of approximately $2,102 million for Iridium, compared to a merger consideration of $54.00 per share. The report also notes three lawsuits filed by stockholders in New York seeking to enjoin the merger over alleged disclosure deficiencies, which Iridium intends to moot through voluntary supplemental disclosures. The special meeting to vote on the transaction is scheduled for September 24, 2026, with closing expected in mid-2027 subject to regulatory approvals and stockholder consent. Iridium Communications Inc. operates in the satellite communications industry, providing global voice and data services via a low Earth orbit constellation.
Iridium Communications Inc. filed a Form 8-K on September 15, 2026, disclosing the execution of Consent and Amendment No. 4 to its Amended and Restated Credit Agreement in connection with its pending merger with Rocket Lab Corporation. The amendment ensures the transaction does not constitute a Change of Control under the credit facility and provides lender consent for the acquisition. Post-closing terms include an increased interest rate margin (SOFR plus 2.50%–3.00%) and new prepayment and exit fees of 1.00%. Iridium Communications Inc. operates in the satellite communications industry, providing global voice and data services via a low Earth orbit constellation.
On August 10, 2026, Iridium Communications Inc.'s Board of Directors declared a quarterly cash dividend of $0.15 per share of common stock. The dividend is payable on September 30, 2026, to stockholders of record as of September 15, 2026. Additionally, the Board adopted Amended and Restated Bylaws effective August 10, 2026, adding a forum selection provision designating Delaware courts as the exclusive venue for derivative actions and federal district courts for Securities Act claims. Iridium Communications Inc. operates in the telecommunications industry, providing global satellite communications services.
Iridium Communications Inc. reported second quarter 2026 financial results, including total revenue of $225.2 million, a 4% increase year-over-year. Net income for the quarter was $9.7 million, or $0.09 per diluted share, down from $22.0 million, or $0.20 per diluted share, in the prior-year period. The company announced it is in the process of being acquired by Rocket Lab Corporation, a transaction expected to close in mid-2027. Additionally, Iridium completed the acquisition of Aireon LLC on July 2, 2026, for approximately $366.7 million. Iridium Communications Inc. provides global mobile satellite services, including voice, data, and PNT services.