Iridium Communications achieved a record total revenue in 2020 of $583.4 million. Q4 report showed $146.5 million in revenue (net loss $7.9 million), a 5% increase compared to Q4 2019 with (net loss $107.9 million), with a subscribers growth of 14% year-over-year.

The company initiated a $300 million share repurchase program to reward shareholders.

Commercial service: 62% of the company’s total revenue during Q4 ($91.1 million, up 3% from the year prior).

Commercial voice and data subscribers: down 1% from the year-ago period.

Commercial IoT subscriptions: 20% more in Q4 2020 compared to Q4 2019, to 962,000 customers, representing 73% of billable commercial subscribers.

Broadband: revenue gain of 18% ($9.6 million).

hosted payloads: revenue gain of 19% ($14.3 million).

Government service revenue: $25.8 million in Q4 (3% increase)

[If you want more information, click on the title of this story and it will redirect you to the full text (external link)]