...the global communications provider grow significantly (to 523,000 total subscribers), launch several well-received voice and data products, and end the year with nearly $200 million in annualized cash flow. Despite unfavorable economic conditions, Iridium was able to post success across almost every financial metric. This is due in large part to the company’s focus on innovation and its commitment to doing important things in completely different ways: Iridium operates in attractive and growing markets, has a superior network, a great partner ecosystem, recurring service revenue business with strong operating leverage, and cash flow growth. Here are some of the highlights from the Company's Annual Report.
- M2M data subscribers grew by more than 50 percent from 2010
- M2M subscribers represent close to 35 percent of total customer base
- Almost 70 percent of total revenue comes from high-margin, recurring services
- Service subscribers increased 11 percent, to over 523,000
- Operational EBITDA increased 20 percent over 2011, to $190 million