Iridium Communications (IRDM) reported third-quarter 2026 revenue of $245.7 million, up 8% from the prior-year period. Net income was $106.9 million, or $0.98 per diluted share, compared with $37.1 million, or $0.35 per diluted share, a year earlier.
The company completed its acquisition of Aireon on July 2 and said its pending acquisition by Rocket Lab received stockholder approval. The transaction is expected to close by mid-2027, subject to regulatory approvals and other closing conditions.
- Service revenue increased 13% year over year to $187.5 million and represented 76% of total revenue.
- Commercial service revenue rose 16% to $159.9 million, while government service revenue increased 2% to $27.6 million.
- Total billable subscribers reached 2.696 million, up 6% from 2.542 million a year earlier.
- Operational EBITDA was $135.6 million, compared with $136.6 million in the prior-year quarter.
- Iridium ended the quarter with $2.2 billion in gross debt, $97.9 million in cash and cash equivalents, and $2.1 billion in net debt.
- The board plans to raise the quarterly dividend to $0.16 per share beginning with the fourth-quarter 2026 dividend.
$IRDM Insider Trading Activity
$IRDM insiders have traded $IRDM stock on the open market 11 times in the past 6 months. Of those trades, 0 have been purchases and 11 have been sales.
Here’s a breakdown of recent trading of $IRDM stock by insiders over the last 6 months:
- THOMAS FITZPATRICK has made 0 purchases and 2 sales selling 224,279 shares for an estimated $11,247,944.
- SUZANNE E. MCBRIDE (Chief Operations Officer) sold 85,454 shares for an estimated $4,296,627
- KATHLEEN A. MORGAN (Chief Legal Officer) has made 0 purchases and 2 sales selling 33,192 shares for an estimated $1,671,162.
- TIMOTHY JAMES LAST (EVP, Sales & Marketing) has made 0 purchases and 4 sales selling 27,303 shares for an estimated $1,345,495.
- TIMOTHY KAPALKA (CAO Iridium Satellite LLC) sold 13,473 shares for an estimated $680,521
- ERIC T OLSON sold 8,000 shares for an estimated $404,880
To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.
$IRDM Hedge Fund Activity
We have seen 288 institutional investors add shares of $IRDM stock to their portfolio, and 167 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- AQR CAPITAL MANAGEMENT LLC added 3,929,245 shares (+134.7%) to their portfolio in Q2 2026, for an estimated $215,519,088
- PACER ADVISORS, INC. added 2,168,271 shares (+inf%) to their portfolio in Q2 2026, for an estimated $118,929,664
- SILVER HEIGHTS CAPITAL MANAGEMENT INC removed 1,870,532 shares (-36.4%) from their portfolio in Q2 2026, for an estimated $102,598,680
- MAN GROUP PLC removed 1,435,086 shares (-77.5%) from their portfolio in Q2 2026, for an estimated $78,714,467
- AMERICAN CENTURY COMPANIES INC added 1,386,486 shares (+40.0%) to their portfolio in Q2 2026, for an estimated $76,048,757
- SIXTH STREET PARTNERS MANAGEMENT COMPANY, L.P. added 1,317,782 shares (+inf%) to their portfolio in Q2 2026, for an estimated $72,280,342
- SELECT EQUITY GROUP, L.P. removed 942,519 shares (-100.0%) from their portfolio in Q2 2026, for an estimated $51,697,167
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.
