Iridium Communications Inc. (IRDM) shares surged 8.23% in pre-market trading on Thursday, February 13, 2025, after the satellite communications company reported impressive fourth-quarter and full-year 2024 results, beating analysts' estimates. The company also issued an upbeat outlook for 2025, fueling investor optimism.

For the fourth quarter of 2024, Iridium reported revenue of $212.991 million, surpassing the consensus estimate of $204.2 million. Net income came in at $36.341 million, or $0.32 per diluted share, significantly higher than the expected $0.16 per share. The strong performance was driven by growth in commercial and government service revenue.

For the full year 2024, Iridium's total revenue grew by 5% year-over-year to $830.682 million. Service revenue, which represents a recurring revenue stream, increased by 5% to $614.914 million. The company's operational EBITDA, a key profitability metric, rose 2% to $470.576 million.

Looking ahead, Iridium expects total service revenue growth between 5% and 7% for the full year 2025. The company also forecasts operational EBITDA to range between $490 million and $500 million, reflecting continued strong profitability. Iridium's management highlighted the company's robust cash flow generation, which enabled the return of $469 million to shareholders through share repurchases and dividend payments in 2024.