Iridium Announces 2023 Results; Company Issues 2024 Outlook
MCLEAN, Va., Feb. 15, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium") today reported financial results for the fourth quarter and full-year 2023 and issued its full-year 2024 guidance.
- MCLEAN, Va., Feb. 15, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium") today reported financial results for the fourth quarter and full-year 2023 and issued its full-year 2024 guidance.
- The Company reported record total revenue in 2023 of $790.7 million, which was up 10% from the year-ago period.
- In 2024, the Company expects Engineering and Support revenue to increase from 2023 with ongoing work on the Space Development Agency contract.
- The Company issued its full-year 2024 outlook and updated long-term guidance on cash taxes:
Total service revenue growth between 4% and 6% for full-year 2024.