Iridium Announces 2020 Results; Company Issues 2021 Outlook
- 2020 subscriber growth resilient in face of pandemic
- Announces $300.0 million share repurchase authorization
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MCLEAN, Va., Feb. 11, 2021 /PRNewswire/ Iridium Communications Inc. (Nasdaq: IRDM) ( Iridium ) today reported financial results for the fourth quarter of 2020 and issued its full-year 2021 guidance. Net loss was $7.9 million, or $0.06 per diluted share, for the fourth quarter of 2020, as compared to net loss of $107.9 million, or $0.82 per diluted share, for the fourth quarter of 2019. This improvement was primarily the result of debt extinguishment costs associated with Iridium s refinancing in the fourth quarter of 2019, which did not recur in 2020. Operational EBITDA ( OEBITDA )