Quarterly report

Summary

• On July 2, 2026, Iridium closed its acquisition of the remaining 60.5% of Aireon Holdings for an aggregate contractual purchase price of approximately $366.7 million, 50% in cash and 50% as a deferred seller loan.
• Remeasurement of its previously held 39.5% equity interest produced a $135.3 million gain, partially offset by $31.4 million in taxes, driving net income of $106.9 million for the three months ended September 30, 2026 versus $37.1 million a year earlier.
• Total revenue rose to $245,733 thousand from $226,935 thousand, while selling, general and administrative expenses increased by $39.4 million, or 111%, largely from $21.3 million in transaction costs tied to the Rocket Lab deal and Aireon acquisition.
• Under the June 28, 2026 Merger Agreement, each Iridium share converts into $27.00 in cash plus Rocket Lab stock at an Exchange Ratio, with stockholders approving the Transaction on September 24, 2026 and the HSR waiting period expired August 12, 2026.
• The merger carries a $223.6 million termination fee payable by Iridium under specified circumstances, and completion is expected by mid-2027 subject to FCC and other regulatory approvals.
• On September 11, 2026, the U.S. Space Force exercised its option to extend the EMSS Contract through March 2027 at the fixed rate of $110.5 million per year, and billable subscribers reached approximately 2,696,000, up 6%.

Why it mattersThe filing documents Iridium's full ownership of the Aireon space-based ADS-B surveillance system and advances its pending sale to Rocket Lab, with stockholder and HSR approvals already obtained and closing targeted for mid-2027.