Iridium Communications, Inc. (NASDAQ:IRDM) Q3 2023 Earnings Conference Call October 19, 2023 8:30 AM ET

Company Participants

Kenneth Levy - Vice President of Investor Relations

Matthew Desch - Chief Executive Officer

Thomas Fitzpatrick - Chief Financial Officer and Chief Administrative Officer

Conference Call Participants

Ric Prentiss - Raymond James

Hamed Khorsand - BWS

Caleb Henry - Quality Space

Edison Yu - Deutsche Bank

Greg Mesniaeff - Westpark Capital

Louie DiPalma - William Blair

Operator

Good morning everyone. Welcome to the Iridium Communications' Third Quarter 2023 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]. Please also note that this event is being recorded.

And at this I like to turn the floor over to Ken Levy, Vice President of Investor Relations. Sir, please go ahead.

Kenneth Levy

Thanks, Jamie. Good morning, and welcome to Iridium's third quarter 2023 earnings call. Joining me on this morning’s call are CEO, Matt Desch; and our CFO, Tom Fitzpatrick. Today's call will begin with a discussion of our third quarter results followed by Q&A. I trust you've had an opportunity to review this morning's earnings release, which is available on the Investor Relations section of Iridium's website

Before I turn things over to Matt, I'd like to caution all participants that our call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts and include statements about our future expectations, plans, and prospects.

Such forward-looking statements are based upon our current beliefs and expectations and are subject to risks, which could cause actual results to differ from forward-looking statements. Such risks are more fully discussed in our filings with the Securities and Exchange Commission. Our remarks today should be considered in light of such risks. Any forward-looking statements represent our views only as of today and while we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so even if our views or expectations change.

During the call, we'll also be referring to non-GAAP financial measures, including operational EBITDA, pro forma free cash flow, free cash flow yield and free cash flow conversion. These non-GAAP financial measures are not prepared in accordance with Generally Accepted Accounting Principles. Please refer to today's earnings release and the Investor Relations section of our website for further explanation of these non-GAAP financial measures as well as a reconciliation to the most directly comparable GAAP measures.