Loading...
Loading...
- Iridium Communications Inc IRDM reported fourth-quarter FY22 revenue growth of 24% year-on-year to $193.84 million, beating the consensus of $174.3 million.
- Service revenue rose 8% Y/Y to $136.8 million. Revenue from equipment sales and engineering and support projects was $57.1 million.
- Commercial service revenue was $110.3 million, up 10% Y/Y. Commercial broadband revenue was up 22% Y/Y to $13.9 million.
- Hosted payload and other data service revenue was $14.7 million, flat Y/Y.
- Government service revenue was $26.5 million, flat Y/Y.
- Operational EBITDA (OEBITDA) for the quarter was $107 million, up 15% Y/Y. These results benefitted from gains in subscriber equipment, engineering, and support, in addition to broad-based growth in commercial service revenues.
- Total billable subscribers rose 16% Y/Y to 1.999 million, driven by growth in commercial IoT customers.
- EPS loss was $(0.01). Iridium held $168.8 million in cash and equivalents.
- "2022 was another strong year for Iridium, driven by continued strong subscriber growth and revenue gains across all business lines," said Matt Desch, CEO, Iridium.
- FY23 Outlook: Iridium expects FY23 service revenue growth of 9% - 11%.
- Price Action: IRDM shares traded higher by 0.88% at $57.59 in premarket on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in