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Iridium Communications (IRDM) Q4 FY2023 earnings: revenue $195 million, up 0.5% on the year

Iridium Communications Inc. (IRDM) reported revenue of $195 million for Q4 FY2023, the quarter ended 31 December 2023, up 0.5% on the same quarter a year earlier. Net income was $38 million, and diluted earnings per share $0.29. The figures are the company's own, from the 10-K it filed with the SEC on 15 February 2024.

Revenue$195 millionup 0.5%
Net income$38 million
Diluted EPS$0.29
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue195198n/an/a
Research and development5.75.0n/an/a
Selling, general and administrative34.333.4n/an/a
Operating income46.328.2n/an/a
Operating margin23.8%14.2%n/a
Pre-tax income30.2-6.2n/an/a
Income tax-9.6-6.0n/an/a
Effective tax rate-31.7%n/an/a
Net income38.0-1.6n/an/a
Net margin19.5%-0.8%n/a
Diluted EPS$0.29-$0.01n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow87.871.1n/an/a
Capital expenditure16.212.0n/an/a
Free cash flow71.659.1n/an/a
Free cash flow margin36.8%29.9%n/a
Cash from investing-16.2-12.0n/an/a
Cash from financing-68.7-93.4n/an/a
Depreciation and amortisation52.876.8n/an/a
Share-based compensation12.015.9n/an/a
Buybacks51.975.4n/an/a
Dividends paid16.016.1n/an/a
Dividend per share$0.13$0.13n/an/a
Diluted shares, weighted127m125mn/an/a
Shares outstanding at period end123m124mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity888925n/an/a
Short-term borrowings15.0n/an/an/a
Debt1,4671,482n/an/a
Operating lease liabilities14.1n/an/an/a
Other liabilities277299n/an/a
Total liabilities and equity2,6622,706n/an/a
Fixed assets2,1962,229n/an/a
Goodwill0.0n/an/an/a
Intangible assets41.141.4n/an/a
Cash and equivalents71.967.9n/an/a
Receivables91.7101n/an/a
Inventory91.171.1n/an/a
Other assets170195n/an/a
Total assets2,6622,706n/an/a

Questions

What was Iridium Communications' revenue in Q4 FY2023?

Iridium Communications (IRDM) reported revenue of $195 million for Q4 FY2023, the quarter ended 31 December 2023, up 0.5% on the same quarter a year earlier.

How much did Iridium Communications earn in Q4 FY2023?

Net income for Q4 FY2023 was $38 million, and diluted earnings per share $0.29.

When did Iridium Communications report Q4 FY2023 results?

Iridium Communications filed its 10-K for the year that ended with the quarter on 15 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue198195204201213213215217227213219225
R&D5.05.77.26.56.28.55.44.34.95.16.25.5
SG&A33.434.336.846.744.040.735.844.635.541.845.867.0
Operating income28.246.349.843.654.952.160.450.370.155.250.734.0
Operating margin14%24%24%22%26%24%28%23%31%26%23%15%
Pre-tax income-6.230.229.219.230.930.536.926.647.933.431.214.3
Tax raten/a-32%27%24%19%-20%16%14%21%24%28%22%
Net income-1.638.019.732.324.436.330.422.037.124.921.69.7
Net margin-1%20%10%16%11%17%14%10%16%12%10%4%
Diluted EPS-$0.01$0.29$0.16$0.27$0.21$0.30$0.27$0.20$0.35$0.24$0.20$0.09
Operating cash flow71.187.871.481.111910561.113010110971.6114
Capital expenditure12.016.214.612.418.624.324.520.721.533.530.021.8
Free cash flow59.171.656.968.710080.536.510979.275.141.792.3
Buybacks75.451.957.297.613012370.565.650.4-0.00.00.0
Dividends paid16.116.016.132.849.1-33.215.730.846.9-30.516.516.2
Shares outstanding124m123m121m118m114m110m108m106m105m105m106m106m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 15 February 2024, accession 0001418819-24-000008: the filing on EDGAR. All of Iridium Communications Inc.'s filings: EDGAR company page.

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