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Iridium reaffirms FY23 total service revenue growth view 9%-11%
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Iridium reaffirms FY23 total service revenue growth view 9%-11%

Reaffirms FY23 OEBITDA $455M-$465M. OEBITDA for 2022 was $424.0M. Negligible cash taxes in 2023. Cash taxes are expected to be negligible through approximately 2024. Net leverage of between 2.5 and 3.5 times OEBITDA at the end of 2023, assuming the completion of the Company’s total $600.0M share repurchase authorization and the payment of four quarters of dividends. Net leverage was 3.2 times OEBITDA at December 31, 2022.

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