Iridium Communications (IRDM) 10-Q 17 Oct 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - $ / shares	9 Months Ended
	Sep. 30, 2024	Oct. 10, 2024	Dec. 31, 2023
Document Information [Line Items]
Document Type	10-Q
Document Period End Date	Sep. 30, 2024
Entity File Number	001-33963
Entity Registrant Name	Iridium Communications Inc.
Entity Central Index Key	0001418819
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-1344998
Entity Address, Address Line One	1750 Tysons Boulevard
Entity Address, Address Line Two	Suite 1400
Entity Address, City or Town	McLean
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22102
City Area Code	703
Local Phone Number	287-7400
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	IRDM
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		113,847,782
Current Fiscal Year End Date	--12-31
Document Quarterly Report	true
Amendment Flag	false
Entity Small Business	false
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Document Transition Report	false
NASDAQ/NGS (GLOBAL SELECT MARKET) [Member]
Document Information [Line Items]
Security Exchange Name	NASDAQ
Common Stock, Shares [Member]
Document Information [Line Items]
Common Stock, Par or Stated Value Per Share	$ 0.001		$ 0.001

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 159,588	$ 71,870
Accounts receivable, net	96,457	91,715
Inventory	82,228	91,135
Prepaid expenses and other current assets	16,596	16,364
Total current assets	354,869	271,084
Property and equipment, net	2,099,544	2,195,758
Equity Method Investments	42,988	67,130
Other assets	60,214	86,708
Intangible assets, net	93,243	41,095
Goodwill	100,333	0
Total assets	2,751,191	2,661,775
Current liabilities:
Short-term secured debt	18,260	15,000
Accounts payable	13,561	28,671
Accrued expenses and other current liabilities	55,760	54,826
Deferred revenue	47,733	33,057
Total current liabilities	135,314	131,554
Long-term secured debt, net	1,776,513	1,467,490
Deferred income tax liabilities, net	120,273	114,642
Deferred revenue, net of current portion	39,842	43,965
Other long-term liabilities	15,492	16,025
Total liabilities	2,087,434	1,773,676
Commitments and contingencies
Stockholders’ equity:
Additional paid-in capital	1,003,736	1,089,466
Accumulated deficit	(355,471)	(235,397)
Accumulated other comprehensive income, net of tax	15,378	33,907
Total stockholders’ equity	663,757	888,099
Total liabilities and stockholders’ equity	2,751,191	2,661,775
Common Stock, Shares [Member]
Stockholders’ equity:
Common stock, $0.001 par value, 300,000 shares authorized, 114,246 and 122,776 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively	$ 114	$ 123

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - Common Stock, Shares [Member] - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	114,246,000	122,776,000
Common stock, shares outstanding (in shares)	114,246,000	122,776,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue:
Total revenue	$ 212,771	$ 197,602	$ 617,691	$ 595,983
Operating expenses:
Research and development	6,189	5,037	19,899	14,541
Selling, general and administrative	43,953	33,368	127,487	109,391
Depreciation and amortization	51,160	76,825	151,680	267,213
Total operating expenses	157,919	169,447	469,422	560,651
Operating income	54,852	28,155	148,269	35,332
Other income (expense), net:
Interest expense, net	(24,246)	(34,660)	(68,706)	(71,273)
Other income (expense), net	312	343	(291)	981
Total other expense, net	(23,934)	(34,317)	(68,997)	(70,292)
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	30,918	(6,162)	79,272	(34,960)
Income tax benefit (expense)	(6,005)	6,009	(18,501)	16,673
Gain (loss) on equity method investments	(467)	(1,489)	15,664	(4,321)
Net income (loss)	$ 24,446	$ (1,642)	$ 76,435	$ (22,608)
Weighted Average Number of Shares Outstanding, Basic	117,449	125,176	120,390	126,100
Weighted Average Number of Shares Outstanding, Diluted	118,111	125,176	121,261	126,100
Earnings Per Share, Basic and Diluted	$ 0.21	$ (0.01)	$ 0.63	$ (0.18)
Comprehensive income (loss):
Net income (loss)	$ 24,446	$ (1,642)	$ 76,435	$ (22,608)
Foreign currency translation adjustments	(288)	(712)	(1,011)	(753)
Unrealized Gain on Cash Flow Hedging, net of tax	(19,401)	2,011	(17,518)	2,416
Comprehensive income (loss)	$ 4,757	$ (343)	$ 57,906	$ (20,945)
Earnings Per Share, Diluted	$ 0.21	$ (0.01)	$ 0.63	$ (0.18)
Services
Revenue:
Total revenue	$ 159,855	$ 151,950	$ 460,899	$ 436,441
Operating expenses:
Cost of Goods and Services Sold	43,848	41,394	129,761	113,431
Subscriber equipment
Revenue:
Total revenue	22,169	20,422	69,819	89,474
Operating expenses:
Cost of Goods and Services Sold	12,769	12,823	40,595	56,075
Engineering and support services
Revenue:
Total revenue	$ 30,747	$ 25,230	$ 86,973	$ 70,068

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity Statement - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock, Shares [Member]	Common Stock, Amount	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]
Beginning Balance (in shares) at Dec. 31, 2022		125,902
Stock options exercised and awards vested (in shares)		1,485
Stock withheld to cover employee taxes (in shares)		(144)
Repurchases and retirements of common stock (in shares)		(3,422)
Ending Balance (in shares) at Sep. 30, 2023		123,821
Beginning Balance at Dec. 31, 2022	$ 1,128,555		$ 126	$ 1,124,610	$ 51,563	$ (47,744)
Stock-based compensation	50,761			50,761
Stock options exercised and awards vested	3,750		1	3,749
Stock withheld to cover employee taxes	(8,644)			(8,644)
Repurchases and retirements of common stock	(195,139)		(3)	(31,895)		(163,241)
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings				33,336
Dividends	33,336
Cumulative translation adjustment	(753)				(753)
Unrealized Gain on Cash Flow Hedging, net of tax	2,416				2,416
Net income (loss)	(22,608)					(22,608)
Ending Balance at Sep. 30, 2023	925,002		124	1,105,245	53,226	(233,593)
Beginning Balance (in shares) at Jun. 30, 2023		125,045
Stock options exercised and awards vested (in shares)		213
Stock withheld to cover employee taxes (in shares)		(14)
Repurchases and retirements of common stock (in shares)		(1,423)
Ending Balance (in shares) at Sep. 30, 2023		123,821
Beginning Balance at Jun. 30, 2023	1,000,193		125	1,118,623	51,927	(170,482)
Stock-based compensation	17,654			17,654
Stock options exercised and awards vested	72		0	72
Stock withheld to cover employee taxes	(727)			(727)
Repurchases and retirements of common stock	(75,374)		(1)	(13,904)		(61,469)
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings				16,473
Dividends	16,473
Cumulative translation adjustment	(712)				(712)
Unrealized Gain on Cash Flow Hedging, net of tax	2,011				2,011
Net income (loss)	(1,642)					(1,642)
Ending Balance at Sep. 30, 2023	925,002		124	1,105,245	53,226	(233,593)
Beginning Balance (in shares) at Dec. 31, 2023		122,776
Stock options exercised and awards vested (in shares)		1,495
Stock withheld to cover employee taxes (in shares)		(175)
Repurchases and retirements of common stock (in shares)		(9,850)
Ending Balance (in shares) at Sep. 30, 2024		114,246
Beginning Balance at Dec. 31, 2023	888,099		123	1,089,466	33,907	(235,397)
Stock-based compensation	54,561			54,561
Stock options exercised and awards vested	2,872		1	2,871
Stock withheld to cover employee taxes	(5,130)			(5,130)
Repurchases and retirements of common stock	(284,604)		(10)	(88,085)		(196,509)
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings				49,947
Dividends	49,947
Cumulative translation adjustment	(1,011)				(1,011)
Unrealized Gain on Cash Flow Hedging, net of tax	(17,518)				(17,518)
Net income (loss)	76,435					76,435
Ending Balance at Sep. 30, 2024	663,757		114	1,003,736	15,378	(355,471)
Beginning Balance (in shares) at Jun. 30, 2024		118,518
Stock options exercised and awards vested (in shares)		443
Stock withheld to cover employee taxes (in shares)		(27)
Repurchases and retirements of common stock (in shares)		(4,688)
Ending Balance (in shares) at Sep. 30, 2024		114,246
Beginning Balance at Jun. 30, 2024	786,699		119	1,043,691	35,067	(292,178)
Stock-based compensation	19,035			19,035
Stock options exercised and awards vested	266		0	266
Stock withheld to cover employee taxes	(706)			(706)
Repurchases and retirements of common stock	(129,803)		(5)	(42,059)		(87,739)
Adjustments to Additional Paid in Capital, Dividends in Excess of Retained Earnings				16,491
Dividends	16,491
Cumulative translation adjustment	(288)				(288)
Unrealized Gain on Cash Flow Hedging, net of tax	(19,401)				(19,401)
Net income (loss)	24,446					24,446
Ending Balance at Sep. 30, 2024	$ 663,757		$ 114	$ 1,003,736	$ 15,378	$ (355,471)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ 76,435	$ (22,608)
Deferred income taxes	14,676	(20,753)
Depreciation and amortization	151,680	267,213
Stock-based compensation (net of amounts capitalized)	51,026	45,502
Amortization of deferred financing fees	1,826	3,142
Gain (loss) on equity method investments	(15,664)	4,321
All other items, net	688	384
Accounts receivable	(3,724)	(18,675)
Inventory	8,758	(30,979)
Prepaid expenses and other current assets	115	1,869
Other assets	11,036	2,449
Accounts payable	(26,760)	(9,147)
Accrued expenses and other current liabilities	(2,344)	9,371
Deferred revenue	3,697	(3,122)
Other long-term liabilities	(279)	(1,861)
Net cash provided by operating activities	271,166	227,106
Cash flows from investing activities:
Capital expenditures	(45,622)	(57,285)
Payments to Acquire Businesses, Net of Cash Acquired	110,713	0
Payments to Acquire Equity Method Investments	0	(10,000)
Net cash used in investing activities	(156,335)	(67,285)
Cash flows from financing activities:
Borrowings under the Term Loan, net of issuance costs	419,783	63,940
Payments on the Term Loan	(109,629)	(72,315)
Proceeds from Issuance of Unsecured Debt	50,000	0
Borrowings under the Revolving Credit Facility	(50,000)	0
Repurchases of common stock	(284,603)	(195,139)
Payments of Debt Issuance Costs	(345)	(1,164)
Proceeds from exercise of stock options	2,872	3,750
Tax payment upon settlement of stock awards	5,130	8,644
Payments of Ordinary Dividends, Common Stock	(49,103)	(48,799)
Net cash used in financing activities	(26,155)	(258,371)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	(958)	(2,343)
Net increase (decrease) in cash and cash equivalents, and restricted cash	87,718	(100,893)
Cash, cash equivalents, and restricted cash, beginning of period	71,870	168,770
Cash, cash equivalents, and restricted cash, end of period	159,588	67,877
Supplemental cash flow information:
Interest paid, net of amounts capitalized	73,354	72,514
Income taxes paid, net	3,566	2,852
Supplemental disclosure of non-cash investing activities:
Property and equipment received but not paid	7,919	5,051
Dividends accrued on common stock	2,175	1,087
Capitalized stock-based compensation	$ 3,536	$ 5,259

Basis of Presentation and Princ

Basis of Presentation and Principles of Consolidation	9 Months Ended
	Sep. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation Iridium Communications Inc. (the “Company”) prepared its condensed consolidated financial statements in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”). The Company’s operations are primarily conducted through, and its operating assets are owned by, its principal operating subsidiary, Iridium Satellite LLC, Iridium Satellite LLC’s immediate parent, Iridium Holdings LLC, and their respective subsidiaries. The accompanying condensed consolidated financial statements include the accounts of (i) the Company, (ii) its wholly owned subsidiaries, and (iii) all less than wholly owned subsidiaries that the Company controls. All material intercompany transactions and balances have been eliminated. In the opinion of management, the condensed consolidated financial statements reflect all normal recurring adjustments that the Company considers necessary for the fair presentation of its results of operations and cash flows for the interim periods covered, and of the financial position of the Company at the date of the interim condensed consolidated balance sheet. The operating results for interim periods are not necessarily indicative of the operating results for the entire year. Certain information and footnote disclosures normally included in consolidated financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to instructions, rules and regulations prescribed by the U.S. Securities and Exchange Commission (“SEC”). These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10‑K for the year ended December 31, 2023, as filed with the SEC on February 15, 2024.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition, the useful lives and recoverability of long-lived and intangible assets, goodwill, income taxes, stock-based compensation, the incremental borrowing rate for its leases, and contingencies, among others. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenues and expenses. Actual results could differ materially from those estimates. Fair Value Measurements The Company evaluates assets and liabilities subject to fair value measurements on a recurring and non-recurring basis to determine the appropriate level to classify them for each reporting period. Fair value is the price that would be received from the sale of an asset or paid to transfer a liability assuming an orderly transaction in the most advantageous market at the measurement date. U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of observability of inputs used in measuring fair value. The fair value hierarchy consists of the following tiers: • Level 1, defined as observable inputs such as quoted prices in active markets for identical assets or liabilities; • Level 2, defined as observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. The fair value estimates are based upon certain market assumptions and information available to the Company. The carrying values of the following financial instruments approximated their fair values as of September 30, 2024 and December 31, 2023: (1) cash and cash equivalents, (2) prepaid expenses and other current assets, (3) accounts receivable, (4) accounts payable, and (5) accrued expenses and other current liabilities. Fair values approximate their carrying values because of their short-term nature. The Level 2 cash equivalents include money market funds, commercial paper and short-term U.S. agency securities. The Company also classifies its derivative financial instruments as Level 2. In determining fair value of Level 2 assets, the Company uses a market approach utilizing valuation models that incorporate observable inputs such as interest rates, bond yields and quoted prices for similar assets. The Company did not hold any Level 3 assets as of September 30, 2024 or December 31, 2023. Leases For new leases, the Company will determine if an arrangement is or contains a lease at inception. Leases are included as (1) right-of-use (“ROU”) assets within other assets and (2) ROU liabilities within accrued expenses and other liabilities and are included within other long-term liabilities on the Company’s condensed consolidated balance sheets. ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Certain leases contain variable contractual obligations as a result of future base rate escalations which are estimated based on observed trends and included within the measurement of present value. The Company’s leases do not provide an implicit rate. The Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The ROU asset also includes any lease payments made and excludes lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. For certain leases, such as teleport network facilities, the Company elects the practical expedient to combine lease and non-lease components as a single lease component. When measuring new lease contracts or remeasuring existing lease contracts, taxes assessed on leases in which the Company is either a lessor or lessee are excluded from contract consideration and variable payments. Inventory Inventory consists primarily of finished goods and raw materials from third-party manufacturers. The Company outsources manufacturing of subscriber equipment to a third-party manufacturer and purchases accessories from third-party suppliers. The Company’s cost of inventory includes freight and an allocation of overhead, including payroll and payroll-related costs of employees directly involved in bringing inventory to its existing condition. Inventories are valued using the average cost method and are carried at the lower of cost or net realizable value. The Company has a manufacturing agreement with Benchmark Electronics Inc. (“Benchmark”) to manufacture most of its subscriber equipment. Pursuant to the agreement, the Company may be required to purchase excess materials at cost plus a contractual markup if the materials are not used in production within the periods specified in the agreement. Benchmark will then repurchase such materials from the Company at the same price paid by the Company, as required for the production of subscriber equipment. The following table summarizes the Company’s inventory balances: September 30, 2024 December 31, 2023 (In thousands) Finished goods $ 47,965 $ 48,698 Raw materials 35,338 43,599 Inventory valuation reserve (1,075) (1,162) Total $ 82,228 $ 91,135 Property and Equipment The Company assesses its long-lived assets for impairment when indicators of impairment are present. During the fourth quarter of 2023, the Company updated its estimate of the satellites’ remaining useful lives based on the health of the constellation and related engineering data. As a result, the estimated useful lives of the satellites were extended by five years, from 12.5 years to 17.5 years. This change resulted in lower depreciation expense and hosted payload revenue for each of the first three quarters of 2024, compared to the corresponding quarter of the prior year. Derivative Financial Instruments The Company uses derivatives to manage its exposure to fluctuating interest rate risk on variable rate debt. Its derivatives are measured at fair value and are recorded on the condensed consolidated balance sheets within other assets and other current liabilities. When the Company’s derivatives are designated as cash flow hedges, the effective portion of the changes in fair value of the derivatives are recorded in accumulated other comprehensive income within the Company’s condensed consolidated balance sheets and subsequently recognized in earnings when the hedged items impact earnings. Any ineffective portion of a derivative’s change in fair value will be recognized in earnings in the same period in which the hedged interest payments affect earnings. Within the condensed consolidated statements of operations and comprehensive income (loss), the gains and losses related to cash flow hedges are recognized within interest income (expense), net, as this is the same financial statement line item used for any gains or losses associated with the hedged items. Cash flows from hedging activities are included in operating activities within the Company’s condensed consolidated statements of cash flows, which is the same category as the item being hedged. See Note 6 for further information. Business Combinations and Goodwill The purchase price for business combinations is allocated to the assets acquired, including tangible and intangible assets, and assumed liabilities, where applicable, based on their respective fair values at the acquisition date. Acquisition-related costs are expensed as incurred. Goodwill is recorded when the cost of an acquired entity exceeds the amounts assigned to the assets acquired and liabilities assumed. The net assets and results of operations of an acquired entity are included in the Company’s consolidated financial statements from the acquisition date. Goodwill is not amortized but is tested for impairment annually or upon the occurrence of certain events. Other Intangible Assets The Company’s other intangible assets that have finite lives (customer relationships, patents and other intellectual property) are amortized over their useful lives and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If any such indicators are present, the Company would test for recoverability by comparing the carrying amount of the asset to the net undiscounted cash flows expected to be generated from the asset. A portion of the Company’s other intangible assets are spectrum, regulatory authorizations, and trade names, which are indefinite-lived. The Company reevaluates the useful life determination for these assets each reporting period to determine whether events and circumstances continue to support an indefinite useful life. Indefinite-lived intangible assets are not amortized and are instead tested for impairment annually, or upon the occurrence of certain events.

Cash and Cash Equivalents, Rest

Cash and Cash Equivalents, Restricted Cash and Marketable Securities	9 Months Ended
	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Cash and Cash Equivalents, Restricted Cash and Marketable Securities	Cash and Cash Equivalents Cash and Cash Equivalents The following table presents the Company’s cash and cash equivalents: September 30, 2024 December 31, 2023 Recurring Fair (In thousands) Cash and cash equivalents: Cash $ 22,674 $ 32,526 Money market funds 136,914 39,344 Level 2 Total cash and cash equivalents $ 159,588 $ 71,870

Intangible Assets, Goodwill and

Intangible Assets, Goodwill and Other	9 Months Ended
	Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets Disclosure	4. Intangible Assets and Goodwill Intangible Assets The following table presents identifiable intangible assets: September 30, 2024 Useful Gross Accumulated Net (In thousands) Indefinite-lived intangible assets: Trade names Indefinite $ 21,195 $ — $ 21,195 Spectrum and licenses Indefinite 14,030 — 14,030 Total 35,225 — 35,225 Definite-lived intangible assets: Intellectual property 20 years 16,439 (11,312) 5,127 Patents 14 - 20 years 587 (199) 388 Customer relationships 12 years 57,000 (4,497) 52,503 Total 74,026 (16,008) 58,018 Total intangible assets $ 109,251 $ (16,008) $ 93,243 December 31, 2023 Useful Gross Accumulated Net (In thousands) Indefinite-lived intangible assets: Trade names Indefinite $ 21,195 $ — $ 21,195 Spectrum and licenses Indefinite 14,030 — 14,030 Total 35,225 — 35,225 Definite-lived intangible assets: Intellectual property 20 years 16,439 (10,987) 5,452 Assembled workforce 7 years 5,678 (5,678) — Patents 14 - 20 years 587 (169) 418 Total 22,704 (16,834) 5,870 Total intangible assets $ 57,929 $ (16,834) $ 41,095 Amortization expense was $2.4 million and $0.4 million for the three months ended September 30, 2024 and 2023, respectively, and $4.9 million and $1.2 million for the nine months ended September 30, 2024 and 2023, respectively. Goodwill During the nine months ended September 30, 2024, the Company acquired Satelles, Inc. (see Note 11

Debt

Debt	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt Term Loan and Revolving Facility Pursuant to a credit agreement (as amended to date, the “Credit Agreement”), the Company previously entered into a term loan totaling $1,500.0 million (as so amended and restated, the “Term Loan”), issued at a price equal to 99.75%, and an accompanying $100.0 million revolving loan (the “Revolving Facility”). The maturity date of the Term Loan is in September 2030. During the nine months ended September 30, 2024, the Company borrowed an additional $325.0 million under its Term Loan, comprised of $125.0 million on March 25, 2024 and $200.0 million on July 30, 2024. The additional amounts borrowed are fungible with the original $1,500.0 million and have the same maturity date, interest rate and other terms. The additional $125.0 million was issued at a price equal to 99.875% of its face value, while the additional $200.0 million was issued at 99.0% of its face value. The proceeds from the March 2024 additional Term Loan were used for the acquisition of Satelles, Inc. (see Note 11 ) on April 1, 2024. In April 2024, the Company drew down $50.0 million on its Revolving Facility for general corporate purposes, including the funding of repurchases of its common stock. This amount was repaid with the expansion of the Term Loan in July 2024, and there were no amounts outstanding under the Revolving Facility as of September 30, 2024. The remaining proceeds from the July 2024 additional Term Loan have been and are expected to be used for general corporate purposes, including share repurchases. The Term Loan has been repriced on several occasions, most recently in June 2024, and currently bears interest at an annual rate equal to the Secured Overnight Financing Rate (“SOFR”) plus 2.25%, with a 0.75% SOFR floor. The Company typically selects a one-month interest period, with the result that interest is calculated using one-month SOFR. Interest is paid monthly on the last business day of the month. Principal payments, payable quarterly, are equal to $18.3 million per annum (approximately one percent of the full principal amount of the Term Loan following the additional Term Loan amounts borrowed in July 2024), with the remaining principal due upon maturity. As of September 30, 2024 and December 31, 2023, the Company had aggregate borrowings of $1,812.3 million and $1,500.0 million, respectively, under the Term Loan. These amounts do not give effect to $17.5 million of net unamortized deferred financing costs at the end of each period. The principal balance in borrowings, net of the unamortized deferred financing costs, as of September 30, 2024 and December 31, 2023 amounted to $1,794.8 million and $1,482.5 million, respectively. As of September 30, 2024 and December 31, 2023, based upon recent trading prices (Level 2 - market approach), the fair value of the Company’s net borrowings under the Term Loan was $1,782.9 million and $1,506.6 million, respectively. The Revolving Facility bears interest at an annual rate equal to SOFR plus 2.5% (but without a SOFR floor) if and as drawn, with no original issue discount, and a commitment fee of 0.5% per annum on the undrawn amount, which was reduced to 0.375% in the first quarter of 2024 because the Company had a consolidated first lien net leverage ratio (as defined in the Credit Agreement) of less than 3.5 to 1. The Revolving Facility has a maturity date in September 2028. The Credit Agreement restricts the Company’s ability to incur liens, engage in mergers or asset sales, pay dividends, repay subordinated indebtedness, incur indebtedness, make investments and loans, and engage in other transactions as specified in the Credit Agreement. The Credit Agreement provides for specified exceptions, including baskets measured as a percentage of trailing twelve months of earnings before interest, taxes, depreciation and amortization (“EBITDA”), and unlimited exceptions in the case of incurring indebtedness and liens and making investments, dividend payments, and payments of subordinated indebtedness, based on achievement and maintenance of specified leverage ratios. The Credit Agreement also contains an annual mandatory prepayment sweep mechanism with respect to a portion of the Company’s excess cash flow (as defined in the Credit Agreement) in the event the Company’s consolidated first lien net leverage ratio rises above 3.5 to 1 as of the end of the Company's previous fiscal year. As of December 31, 2023, the Company was below the specified leverage ratio, and a mandatory prepayment sweep was therefore not required in 2024. The Credit Agreement permits repayment, prepayment, and repricing transactions. The Credit Agreement contains no financial maintenance covenants with respect to the Term Loan. With respect to the Revolving Facility, the Credit Agreement requires the Company to maintain a consolidated first lien net leverage ratio of no greater than 6.25 to 1 if more than 35% of the Revolving Facility has been drawn or subject to letter of credit exposure. As of September 30, 2024, the aggregate exposure under the Revolving Facility was less than 35%. The Credit Agreement contains other customary representations and warranties, affirmative and negative covenants, and events of default. The Company was in compliance with all financial covenants as of September 30, 2024. Interest on Debt Total interest incurred includes amortization of deferred financing fees and capitalized interest. The Company incurred third-party financing costs of $2.2 million in connection with the expansion of the Term Loan in July 2024, $1.9 million related to the repricing of the Term Loan in June 2024 and $1.6 million in connection with the expansion of the Term Loan in March 2024, substantially all of which were expensed. The amounts expensed are included within interest expense on the condensed consolidated statements of operations and comprehensive income (loss). The following table presents the interest and amortization of deferred financing fees related to the Term Loan: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Total interest incurred $ 27,797 $ 37,277 $ 77,101 $ 80,584 Amortization of deferred financing fees $ 657 $ 1,087 $ 1,918 $ 3,327 Capitalized interest $ 1,272 $ 1,121 $ 3,460 $ 3,847 As of September 30, 2024 and December 31, 2023, accrued interest on the Term Loan was $0.4 million and $1.0 million, respectively.

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities Disclosure [Text Block]	Derivative Financial Instruments The Company is exposed to interest rate fluctuations related to the Term Loan. The Company has reduced its exposure to fluctuations in the cash flows associated with changes in the variable interest rate by entering into offsetting positions through the use of interest rate hedges. This will reduce the negative impact of increases in the variable rate over the term of the derivative contracts. These contracts are not used for trading or other speculative purposes. Historically, the Company has not incurred, and does not expect to incur in the future, any losses as a result of counterparty default. Interest Rate Cap In July 2021, the Company entered into an interest rate cap contract (the “Cap”), which had an effective date of December 2021. The Cap manages the Company’s exposure to interest rate movements on a portion of the Term Loan through November 2026. The Cap, as modified to date, currently provides the Company with the right to receive payment from the counterparty if one-month SOFR exceeds 1.436%. The Company pays a fixed monthly premium based on an annual rate of 0.31% for the Cap. The Cap carried a notional amount of $1.0 billion as of September 30, 2024 and December 31, 2023. The Cap, which was not affected by the expansion of the Term Loan in July 2024 and March 2024 or the repricing of the Term Loan in June 2024, is designed to mirror the terms of the Term Loan and to offset the cash flows being hedged. The Company designated the Cap as a cash flow hedge of the variability of the SOFR-based interest payments on the Term Loan. The effective portion of the Cap’s change in fair value is recorded in accumulated other comprehensive income. Any ineffective portion of the Cap’s change in fair value will be recorded in current earnings as interest expense. Hedge effectiveness of the current interest rate cap contract is based on a long-haul hypothetical derivative methodology and includes all changes in value. The Company formally assesses, both at the hedge’s inception and on an ongoing quarterly basis, whether the designated derivative instruments are highly effective in offsetting changes in the cash flows of the hedged items. When the hedging instrument is sold, expires, is terminated, is exercised, no longer qualifies for hedge accounting, is de-designated, or is no longer probable, hedge accounting is discontinued prospectively. Fair Value of Derivative Instruments As of September 30, 2024 and December 31, 2023, the Company had an asset balance of $41.7 million and $66.5 million, respectively, for the fair value of the Cap and a liability balance of $6.3 million and $8.4 million, respectively, for the fair value of the Cap premium. Both the Cap and the Cap premium are recorded net within other assets on the condensed consolidated balance sheet. During each of the three and nine months ended September 30, 2024 and September 30, 2023, the Company collectively incurred $0.8 million and $2.5 million, respectively, in interest expense for the Cap premium. Interest expense was reduced by $9.8 million and $9.6 million for the three months ended September 30, 2024 and 2023, respectively, and $29.5 million and $26.3 million for the nine months ended September 30, 2024 and 2023, respectively, for payments received related to the Cap. Gains and losses resulting from fair value adjustments to the Cap are recorded within accumulated other comprehensive income within the Company’s condensed consolidated balance sheets and reclassified to interest expense on the dates that interest payments become due. Cash flows related to the derivative contracts are included in cash flows from operating activities on the condensed consolidated statements of cash flows. Over the next 12 months, the Company expects any gains or losses for cash flow hedges amortized from accumulated other comprehensive income into earnings to have an immaterial impact on the Company’s consolidated financial statements. The following table presents the amount of unrealized gain or loss and related tax impact associated with the Cap that the Company recorded in its condensed consolidated statements of operations and comprehensive income (loss): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Unrealized gain (loss), net of tax $ (19,401) $ 2,011 $ (17,518) $ 2,416 Tax benefit (expense) $ 5,957 $ (621) $ 5,094 $ (761)

Equity Transactions

Equity Transactions	9 Months Ended
	Sep. 30, 2023
Stockholders' Equity Note [Abstract]
Equity Transactions	Equity Transactions Preferred Stock The Company is authorized to issue 2.0 million shares of preferred stock with a par value of $0.0001 per share. The Company previously issued 1.5 million shares of preferred stock, all of which have converted to common stock. The remaining 0.5 million authorized shares of preferred stock remain undesignated and unissued. As of September 30, 2024 and December 31, 2023, there were no outstanding shares of preferred stock, as all previously designated and issued preferred stock was converted into common stock in prior periods. Dividends Stockholders are entitled to receive, when and if declared by the Company’s Board of Directors from time to time, dividends and other distributions in cash, stock or property from the Company’s assets or funds legally and contractually available for such purposes. In December 2022, the Company’s Board of Directors initiated a quarterly dividend. The Company paid dividends of $0.13 on March 28, 2024 and $0.14 per share of common stock on each of June 28, 2024 and September 30, 2024, resulting in total payments to stockholders of $49.1 million for the nine months ended September 30, 2024. Dividend payments for the nine months ended September 30, 2023 totaled $48.8 million. The Company’s liability related to dividends payable on common shares underlying unvested RSUs was $2.2 million and $1.3 million as of September 30, 2024 and December 31, 2023, respectively. Share Repurchase Program Since February 2021, the Company’s Board of Directors has authorized the repurchase of up to an aggregate of $1,500.0 million of the Company’s common stock, including the most recent approval in September 2024 of an additional $500.0 million through December 31, 2027. This timeframe can be extended or shortened by the Board of Directors. Repurchases may be made from time to time on the open market at prevailing prices or in negotiated transactions off the market. The Company records share repurchases at cost, which includes broker commissions and related excise taxes. All shares are immediately retired upon repurchase in accordance with the board-approved policy. When treasury shares are retired, the Company’s policy is to allocate the excess of the repurchase price over the par value of shares acquired first, to additional paid-in capital, and then to retained earnings/accumulated deficit. The portion to be allocated to additional paid-in capital is calculated by applying a percentage, determined by dividing the number of shares to be retired by the number of shares outstanding, to the balance of additional paid-in capital as of the date of retirement. During the three and nine months ended September 30, 2024, the Company repurchased and subsequently retired 4.7 million and 9.8 million shares of its common stock, respectively, for a total purchase price of $129.0 million and $282.3 million, respectively, inclusive of related commissions. During the three and nine months ended September 30, 2024, the Company incurred $1.2 million and $2.7 million, respectively, of related taxes, which are not included in the total purchase price. In addition, in September 2024, the Company purchased 21,000 shares for $0.7 million, which were settled and retired in October 2024. The Company repurchased and subsequently retired 1.4 million and 3.4 million shares of its common stock during the three and nine months ended September 30, 2023, respectively, for a total purchase price of $73.8 million and $193.0 million, respectively, exclusive of $0.7 million and $1.2 million of related taxes incurred for the three and nine months ended September 30, 2024, respectively. In addition, in September 2023, the Company purchased 22,000 shares for $0.9 million, which were settled and retired in October 2023. As of September 30, 2024, $552.2 million remained available and authorized for repurchase under this program.

Revenue

Revenue	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The following table summarizes the Company’s services revenue: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Commercial services revenue: Voice and data $ 57,693 $ 56,188 $ 169,125 $ 163,593 IoT data 43,695 38,460 124,759 104,971 Broadband 15,549 15,782 42,719 43,258 Hosted payload and other data 16,372 15,020 44,750 45,119 Total commercial services revenue 133,309 125,450 381,353 356,941 Government services revenue 26,546 26,500 79,546 79,500 Total services revenue $ 159,855 $ 151,950 $ 460,899 $ 436,441 The following table summarizes the Company’s engineering and support services revenue: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Commercial $ 1,731 $ 1,881 $ 4,404 $ 9,304 Government 29,016 23,349 82,569 60,764 Total engineering and support services revenue $ 30,747 $ 25,230 $ 86,973 $ 70,068 Approximately 42% and 46% of the Company’s accounts receivable balance at September 30, 2024 and December 31, 2023, respectively, was due from prime contracts or subcontracts with agencies of the U.S. government. The Company’s contracts with customers generally do not contain performance obligations with terms in excess of one year. As such, the Company does not disclose details related to the value of performance obligations that are unsatisfied as of the end of the reporting period. The total value of any performance obligations that extend beyond one year is immaterial to the financial statements. The timing of revenue recognition, billings and cash collections results in billed accounts receivable, unbilled receivables (contract assets), and deferred revenue (contract liabilities) on the condensed consolidated balance sheets. The Company bills amounts under its agreed-upon contractual terms at periodic intervals (for services), upon shipment (for equipment), or upon achievement of contractual milestones or as work progresses (for engineering and support services). Billing may occur subsequent to revenue recognition, resulting in unbilled accounts receivable (contract assets). The Company may also receive payments from customers before revenue is recognized, resulting in deferred revenue (contract liabilities). The Company recognized revenue that was previously recorded as deferred revenue in the amounts of $12.0 million and $3.3 million for the three months ended September 30, 2024 and 2023, respectively, and $26.4 million and $25.1 million for the nine months ended September 30, 2024 and 2023, respectively. The Company has also recorded costs of obtaining contracts expected to be recovered in prepaid expenses and other current assets (contract assets or commissions), that are not separately disclosed on the condensed consolidated balance sheets. The commissions are recognized over the estimated usage period. The following table presents contract assets not separately disclosed: September 30, 2024 December 31, 2023 (In thousands) Contract Assets: Commissions $ 1,056 $ 1,114 Other contract costs $ 1,841 $ 1,970

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Lessor, Operating Leases [Text Block]	Leases Lessor Arrangements Operating leases in which the Company is a lessor consist primarily of hosting agreements with Aireon LLC (“Aireon”) (see Note 13 ) and L3Harris Technologies, Inc. (“L3Harris”) for space on the Company’s satellites. These agreements provide for a fee that will be recognized over the estimated useful lives of the satellites, currently estimated to be approximately 17.5 years from their respective in-service dates. Lease income related to these agreements was $3.1 million and $5.4 million for the three months ended September 30, 2024 and 2023, respectively, and $9.3 million and $16.1 million for the nine months ended September 30, 2024 and 2023, respectively. The decrease for the quarter ended September 30, 2024 as compared to September 30, 2023 was due to the change in estimated useful life of the satellites made in the fourth quarter of 2023. Lease income is recorded as hosted payload and other data service revenue within service revenue on the Company’s condensed consolidated statements of operations and comprehensive income (loss). Aireon has made payments to the Company pursuant to its hosting agreement, and the Company expects Aireon will continue to do so. L3Harris has prepaid all amounts owed to the Company pursuant to its hosting arrangement. The following table presents future income with respect to the Company’s operating leases in which it is the lessor existing at September 30, 2024, exclusive of the $9.3 million recognized during the nine months ended September 30, 2024, by year and in the aggregate: Year Ending December 31, Amount (In thousands) 2024 $ 3,098 2025 12,391 2026 12,391 2027 12,391 2028 12,391 Thereafter 82,106 Total lease income $ 134,768

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation In May 2023, the Company’s stockholders approved the amendment and restatement of the Company’s 2015 Equity Incentive Plan (as so amended and restated, the “Amended 2015 Plan”). As of September 30, 2024, the remaining aggregate number of shares available for future grants under the Amended 2015 Plan was 8,574,398. The Amended 2015 Plan provides for the grant of stock-based awards, including nonqualified stock options, incentive stock options, restricted stock, restricted stock units (“RSUs”), stock appreciation rights and other equity securities to employees, consultants and non-employee directors of the Company and its affiliated entities. The number of shares of common stock available for issuance under the Amended 2015 Plan is reduced by (i) one share for each share of common stock issued pursuant to an appreciation award, such as a stock option or stock appreciation right with an exercise or strike price of at least 100% of the fair market value of the underlying common stock on the date of grant, and (ii) 1.8 shares for each share of common stock issued pursuant to any stock award that is not an appreciation award, also known as a “full value award.” The Amended 2015 Plan allows the Company to utilize a broad array of equity incentives and performance cash incentives in order to secure and retain the services of its employees, directors and consultants, and to provide long-term incentives that align the interests of its employees, directors and consultants with the interests of the Company’s stockholders. The Company accounts for stock-based compensation at fair value. Restricted Stock Units Beginning in March 2024, the RSUs granted to employees for service generally vest over three years, with 34% vesting on the first anniversary of the grant date and the remainder vesting ratably on a quarterly basis thereafter, subject to continued employment. RSUs granted prior to March 2024 generally vest over four years, with 25% vesting on the first anniversary of the grant date and the remainder vesting ratably on a quarterly basis thereafter, subject to continued employment. Some RSUs granted to employees for performance vest upon the completion of defined performance goals, subject to continued employment. The RSUs granted to non-employee members of the Board of Directors generally vest in full on the first anniversary of the grant date. The RSUs granted to non-employee consultants generally vest 50% on the first anniversary of the grant date, with the remaining 50% vesting quarterly thereafter through the second anniversary of the grant date. The Company’s RSUs are classified as equity awards because the RSUs will be settled in the Company’s common stock upon vesting. The fair value of the RSUs is determined based on the closing price of the Company’s common stock on the date of grant. The related compensation expense as of the grant date is then recognized over the service period, or shorter periods based on the retirement eligibility of grantees, based on the number of shares expected to vest. The fair value of the awards is not remeasured at the end of each reporting period. RSUs do not carry voting rights until they are vested, although certain unvested RSUs are entitled to accrue dividend equivalent rights, and shares (including additional shares issuable upon satisfaction of any accrued dividend equivalent rights) are issued upon settlement in accordance with the terms of the award. The following tables summarize the Company’s RSU activity: Shares Underlying RSUs Weighted- (In thousands) Outstanding at December 31, 2023 2,795 $ 40.24 Granted 2,497 30.07 Forfeited (83) 38.24 Released (1,197) 43.69 Outstanding at September 30, 2024 4,012 $ 32.92 Vested and unreleased at September 30, 2024 (1) 525 Shares Underlying RSUs Weighted- (In thousands) Outstanding at December 31, 2022 2,970 $ 31.60 Granted 1,102 59.20 Forfeited (43) 44.15 Released (999) 37.37 Outstanding at September 30, 2023 3,030 $ 39.52 Vested and unreleased at September 30, 2023 (1) 793 (1) These RSUs were granted to the Company’s Board of Directors as a part of their compensation for board and committee service and had vested but had not yet settled, meaning that the underlying shares of common stock had not been issued and released. Service-Based RSUs The majority of the annual compensation the Company provides to non-employee members of its Board of Directors is paid in the form of RSUs. Some members of the Company’s Board of Directors may elect to receive the remainder of their annual compensation, or a portion thereof, in the form of RSUs. An aggregate amount of approximately 57,000 and 53,000 service-based RSUs were granted to the non-employee members of the Company’s Board of Directors as a result of these payments and elections during the nine months ended September 30, 2024 and 2023, respectively, with an estimated grant date fair value of $1.9 million and $2.8 million, respectively. During the nine months ended September 30, 2024 and 2023, the Company granted approximately 1,579,000 and 667,000 service-based RSUs, respectively, to its employees, with an estimated aggregate grant date fair value of $46.5 million and $39.9 million, respectively. Performance-Based RSUs In March 2024 and 2023, the Company granted approximately 461,000 and 193,000 annual incentive, performance-based RSUs, respectively, to the Company’s executives and employees (the “Bonus RSUs”), with an estimated grant date fair value of $13.7 million and $11.9 million, respectively. Vesting of the Bonus RSUs is dependent upon the Company’s achievement of defined performance goals over the respective fiscal year. The Company records stock-based compensation expense related to performance-based RSUs when it is considered probable that the performance conditions will be met. Management believes it is probable that substantially all of the 2024 Bonus RSUs will vest. The level of achievement, if any, of performance goals will be determined by the compensation committee of the Company’s Board of Directors and, if such goals are achieved, the 2024 Bonus RSUs will vest, subject to continued employment, in March 2025. Substantially all of the 2023 Bonus RSUs vested in March 2024 upon the determination of the level of achievement of the performance goals. Additionally, during the nine months ended September 30, 2024 and 2023, the Company granted approximately 303,000 and 134,000 long-term, performance-based RSUs, respectively, to the Company’s executives (the “Executive RSUs”). The estimated aggregate grant date fair value of the Executive RSU grants was $9.0 million and $8.2 million during the nine months ended September 30, 2024 and 2023, respectively. Vesting of the Executive RSUs is dependent upon the Company’s achievement of defined performance goals over a two-year period. The vesting of the March 2023 Executive RSUs will ultimately range from 0% to 150% of the number of shares underlying the Executive RSUs granted, and the vesting of the March 2024 Executive RSUs will ultimately range from 0% to 200% of the number of shares underlying the Executive RSUs granted, in each case based on the level of achievement of the performance goals. If the Company achieves the performance goals, 50% of the number of Executive RSUs earned based on performance will vest on the second anniversary of the grant date, and the remaining 50% will vest on the third anniversary of the grant date, in each case subject to the executive’s continued service as of the vesting date, which may be accelerated based on the retirement eligibility of grantees. During March 2024 and 2023, the Company awarded approximately 83,000 and 55,000 additional shares, respectively, related to long-term, performance-based RSUs granted to the Company’s executives in 2022 and 2021, respectively, for over-achievement of performance targets for the performance periods ended December 31, 2023 and 2022, respectively. Stock Option Awards Stock option awards granted to employees generally (i) have a term of ten years, (ii) vest over four years with 25% vesting after the first year of service and the remainder vesting ratably on a quarterly basis thereafter, (iii) are contingent upon employment on the vesting date, and (iv) have an exercise price equal to the fair market value of the underlying shares at the date of grant. The fair value of stock options was determined at the grant date using the Black-Scholes option pricing model. A summary of the activity of the Company’s stock options is as follows: Shares Weighted- Weighted- Aggregate (In thousands, except years and per share data) Options outstanding at December 31, 2023 676 $ 11.55 2.39 $ 20,036 Exercised (298) 9.62 $ 5,488 Options outstanding and exercisable at September 30, 2024 378 $ 13.08 2.37 $ 6,571 Shares Weighted- Weighted- Aggregate (In thousands, except years and per share data) Options outstanding at December 31, 2022 1,185 $ 9.97 2.64 $ 49,094 Cancelled or expired (4) 10.25 Exercised (486) 7.72 $ 26,420 Options outstanding and exercisable at September 30, 2023 695 $ 11.54 2.66 $ 23,616

Business Combinations, Asset Ac

Business Combinations, Asset Acquisitions, and Joint Venture Formation	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Asset Acquisition	11. Acquisition of Satelles On April 1, 2024, the Company acquired Satelles, Inc., a provider of satellite-based time and location services that complement and protect GPS and other GNSS systems. This acquisition is intended to support the Company’s long-term business objectives. Satelles was merged with a subsidiary of the Company, with Satelles as the surviving entity, now a direct and indirect wholly owned subsidiary of the Company. The acquisition date fair value of the consideration paid to acquire the remaining 80.5% of the outstanding shares and voting interest of Satelles that was not previously owned by the Company was approximately $125.5 million. The purchase price allocation set forth below, including valuation of intangible assets, is preliminary. The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date: April 1, 2024 Fair Value Useful Life (In thousands) Cash $ 14,738 Other current assets 1,901 Customer relationships 57,000 12 years Other noncurrent assets 5,041 Goodwill 100,333 Total identifiable assets acquired 179,013 Liabilities assumed (13,821) Net identifiable assets acquired $ 165,192 The customer relationships recognized were determined to have an economic life of 12 years. The Company will amortize the customer relationships over their useful lives, utilizing the economic benefit model. The goodwill recognized is attributable primarily to expected synergies and the assembled workforce of Satelles. None of the goodwill is expected to be deductible for income tax purposes. As of September 30, 2024, there were no changes in the recognized amounts of goodwill resulting from the acquisition of Satelles. The Company incurred $2.8 million of acquisition related costs that were expensed in the nine months ended September 30, 2024. These costs are included within selling, general, and administrative expenses in the condensed consolidated statements of operations and comprehensive income (loss). The amounts of revenue and earnings of Satelles included in the Company’s condensed consolidated statements of operations and comprehensive income (loss), excluding the impact of the Company’s remeasurement of its prior equity interest in Satelles, are as follows: Three Months Ended Period from Acquisition Date to (In thousands) (In thousands) Revenue $ 5,257 $ 7,927 Net loss (2,735) (7,529) The following unaudited pro forma data summarizes the results of operations for the periods indicated as if the acquisition of Satelles had been completed as of the beginning of the comparable prior annual reporting period. The unaudited pro forma data gives effect to actual operating results prior to the acquisition, adjusted to include the pro forma effect of amortization of intangibles and the elimination of intercompany sales and acquisition costs. These pro forma amounts are not intended to be indicative of the results that would have actually been obtained if the acquisition had occurred as of the beginning of the comparable prior annual reporting period or that may be obtained in the future. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Revenue $ 212,770 $ 200,562 $ 619,563 $ 603,968 Net income (loss) 25,652 (4,805) 55,194 (43,440) Prior to the acquisition date, the Company accounted for its 19.5% interest in Satelles as an equity-method investment. The acquisition date fair value of the previous equity interest was $39.7 million and was included in the measurement of the consideration transferred. The Company recognized a gain of $19.8 million as a result of remeasuring its prior equity interest in Satelles held before the business combination. The gain is included within gain (loss) from equity method investments in the condensed consolidated statements of operations and comprehensive income (loss) for the nine months ended September 30, 2024.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Tax Disclosure	Income Taxes Income before income taxes and gain on equity method investments was $30.9 million and $79.3 million for the three and nine months ended September 30, 2024, respectively, while the income tax expense was $6.0 million and $18.5 million for the three and nine months ended September 30, 2024, respectively. The effective tax rate was 19.4% and 23.3% for the three and nine months ended September 30, 2024, respectively, which differed from the federal statutory rate of 21%, primarily due to the discrete tax expense associated with stock compensation and nondeductible executive compensation, which was partially offset by the deduction for foreign derived intangible income. Loss before income taxes and loss on equity method investments was $6.2 million and $35.0 million for the three and nine months ended September 30, 2023, respectively, while the income tax benefit was $6.0 million and $16.7 million for the three and nine months ended September 30, 2023, respectively. The effective tax rate was 97.5% and 47.7% for the three and nine months ended September 30, 2023, respectively, which differed from the federal statutory rate of 21%, primarily due to a discrete tax benefit associated with stock compensation and U.S. tax credits, which were partially offset by tax expense associated with nondeductible executive compensation.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions Disclosure	13. Related Party Transactions Aireon LLC and Aireon Holdings LLC The Company’s satellite constellation hosts the Aireon ® system. The Aireon system was developed by Aireon LLC, which the Company formed in 2011, and which received subsequent investments from several air navigation service providers (“ANSPs”) to provide a global air traffic surveillance service through a series of automatic dependent surveillance-broadcast (“ADS-B”) receivers on the Company’s satellites. Aireon has contracted to offer this service to ANSPs, which use the service to provide improved air traffic control services over the oceans, as well as polar and remote regions. Aireon also markets its data and services to airlines and other commercial users. The Company and the other Aireon investors hold their interests in Aireon Holdings LLC (“Aireon Holdings”) through an amended and restated LLC agreement (“Aireon Holdings LLC Agreement”). Aireon Holdings holds 100% of the membership interests in Aireon, which is the operating entity. In June 2022, the Company entered into a subscription agreement with Aireon Holdings and invested $50.0 million for a preferred membership interest of approximately 6%. The Company’s investment in Aireon Holdings is accounted for as an equity method investment. The carrying value of the Company’s investment in Aireon was $42.2 million and $44.6 million as of September 30, 2024 and December 31, 2023, respectively. The investments made by the Company in Aireon Holdings prior to June 2022 had previously been written down to a carrying value of zero. At each of September 30, 2024 and December 31, 2023, the Company’s fully diluted ownership stake in Aireon Holdings was approximately 39.5%, which is subject to partial future redemption under provisions contained in the Aireon Holdings LLC Agreement. Under the agreements with Aireon, Aireon agreed to pay the Company fees of $200.0 million to host the ADS-B receivers, of which $102.5 million had been paid as of September 30, 2024. These fees are recognized over the estimated useful life of the Company’s satellites, which is expected to result in revenue of approximately $9.3 million per year, following the change in estimate of the useful lives of the satellites that occurred in the fourth quarter of 2023. The Company recognized $2.3 million and $4.0 million of hosting fee revenue for the three months ended September 30, 2024 and 2023, respectively, and $6.9 million and $12.0 million for the nine months ended September 30, 2024 and 2023, respectively. Deferred hosting fee revenue totaled $3.0 million as of September 30, 2024. Additionally, Aireon pays power and data services fees of approximately $23.5 million per year, in the aggregate, for the delivery of air traffic surveillance data over the Iridium ® system. The Company recognized $5.9 million of power and data service fee revenue from Aireon for each of the three months ended September 30, 2024 and 2023, and $17.6 million for each of the nine months ended September 30, 2024 and 2023. Under two services agreements, the Company also provides Aireon with administrative services and support services, the fees for which are paid monthly. Aireon receivables due to the Company under these two agreements totaled $2.1 million and $2.2 million as of September 30, 2024 and December 31, 2023, respectively. The Company and the other Aireon investors have agreed to participate pro-rata, based on their fully diluted ownership stakes, in funding an investor bridge loan to Aireon. The Company’s maximum funding commitment for the bridge loan is $11.9 million. No bridge loan amounts were outstanding as of September 30, 2024 or December 31, 2023.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share The Company calculates basic net income (loss) per share by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. In periods of net income, diluted net income per share takes into account the effect of potentially dilutive common shares when the effect is dilutive. Potentially dilutive common shares include (i) shares of common stock issuable upon exercise of outstanding stock options and (ii) contingently issuable RSUs that are convertible into shares of common stock upon achievement of certain service and performance requirements. The effect of potentially dilutive common shares is computed using the treasury stock method. The following table summarizes the computations of basic and diluted net income (loss) per share: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands, except per share data) Numerator: Net income (loss) - basic and diluted $ 24,446 $ (1,642) $ 76,435 $ (22,608) Denominator: Weighted average common shares — basic 117,449 125,176 120,390 126,100 Dilutive effect of stock options 181 — 240 — Dilutive effect of RSUs 481 — 631 — Weighted average common shares — diluted 118,111 125,176 121,261 126,100 Net income (loss) per share - basic and diluted $ 0.21 $ (0.01) $ 0.63 $ (0.18) The following table presents the incremental number of shares underlying stock options and RSUs outstanding with anti-dilutive effects: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Performance-based RSUs — 82 — 168 Service-based RSUs — 500 — 655 Stock options — 443 — 543

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 24,446	$ (1,642)	$ 76,435	$ (22,608)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Use of Estimates, Policy	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates and assumptions, including those related to revenue recognition, the useful lives and recoverability of long-lived and intangible assets, goodwill, income taxes, stock-based compensation, the incremental borrowing rate for its leases, and contingencies, among others. The Company bases these estimates on historical and anticipated results, trends, and various other assumptions that it believes are reasonable, including assumptions as to future events. These estimates form the basis for making judgments about the carrying values of assets and liabilities and recorded revenues and expenses. Actual results could differ materially from those estimates.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements The Company evaluates assets and liabilities subject to fair value measurements on a recurring and non-recurring basis to determine the appropriate level to classify them for each reporting period. Fair value is the price that would be received from the sale of an asset or paid to transfer a liability assuming an orderly transaction in the most advantageous market at the measurement date. U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of observability of inputs used in measuring fair value. The fair value hierarchy consists of the following tiers: • Level 1, defined as observable inputs such as quoted prices in active markets for identical assets or liabilities; • Level 2, defined as observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and • Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.
Lessee, Leases [Policy Text Block]	Leases For new leases, the Company will determine if an arrangement is or contains a lease at inception. Leases are included as (1) right-of-use (“ROU”) assets within other assets and (2) ROU liabilities within accrued expenses and other liabilities and are included within other long-term liabilities on the Company’s condensed consolidated balance sheets. ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Certain leases contain variable contractual obligations as a result of future base rate escalations which are estimated based on observed trends and included within the measurement of present value. The Company’s leases do not provide an implicit rate. The Company uses its incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The ROU asset also includes any lease payments made and excludes lease incentives. Lease expense for lease payments is recognized on a straight-line basis over the lease term. The Company has lease agreements with lease and non-lease components, which are generally accounted for separately. For certain leases, such as teleport network facilities, the Company elects the practical expedient to combine lease and non-lease components as a single lease component. When measuring new lease contracts or remeasuring existing lease contracts, taxes assessed on leases in which the Company is either a lessor or lessee are excluded from contract consideration and variable payments.
Inventory, Policy [Policy Text Block]	Inventory Inventory consists primarily of finished goods and raw materials from third-party manufacturers. The Company outsources manufacturing of subscriber equipment to a third-party manufacturer and purchases accessories from third-party suppliers. The Company’s cost of inventory includes freight and an allocation of overhead, including payroll and payroll-related costs of employees directly involved in bringing inventory to its existing condition. Inventories are valued using the average cost method and are carried at the lower of cost or net realizable value. The Company has a manufacturing agreement with Benchmark Electronics Inc. (“Benchmark”) to manufacture most of its subscriber equipment. Pursuant to the agreement, the Company may be required to purchase excess materials at cost plus a contractual markup if the materials are not used in production within the periods specified in the agreement. Benchmark will then repurchase such materials from the Company at the same price paid by the Company, as required for the production of subscriber equipment.
Property, Plant and Equipment, Policy	Property and Equipment
Derivatives, Policy [Policy Text Block]	Derivative Financial Instruments The Company uses derivatives to manage its exposure to fluctuating interest rate risk on variable rate debt. Its derivatives are measured at fair value and are recorded on the condensed consolidated balance sheets within other assets and other current liabilities. When the Company’s derivatives are designated as cash flow hedges, the effective portion of the changes in fair value of the derivatives are recorded in accumulated other comprehensive income within the Company’s condensed consolidated balance sheets and subsequently recognized in earnings when the hedged items impact earnings. Any ineffective portion of a derivative’s change in fair value will be recognized in earnings in the same period in which the hedged interest payments affect earnings. Within the condensed consolidated statements of operations and comprehensive income (loss), the gains and losses related to cash flow hedges are recognized within interest income (expense), net, as this is the same financial statement line item used for any gains or losses associated with the hedged items. Cash flows from hedging activities are included in operating activities within the Company’s condensed consolidated statements of cash flows, which is the same category as the item being hedged. See Note 6 for further information.
Business Combinations Policy	Business Combinations and Goodwill
Goodwill and Intangible Assets, Intangible Assets, Policy	Other Intangible Assets The Company’s other intangible assets that have finite lives (customer relationships, patents and other intellectual property) are amortized over their useful lives and reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. If any such indicators are present, the Company would test for recoverability by comparing the carrying amount of the asset to the net undiscounted cash flows expected to be generated from the asset. A portion of the Company’s other intangible assets are spectrum, regulatory authorizations, and trade names, which are indefinite-lived. The Company reevaluates the useful life determination for these assets each reporting period to determine whether events and circumstances continue to support an indefinite useful life. Indefinite-lived intangible assets are not amortized and are instead tested for impairment annually, or upon the occurrence of certain events.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Schedule of Inventory, Current	The following table summarizes the Company’s inventory balances: September 30, 2024 December 31, 2023 (In thousands) Finished goods $ 47,965 $ 48,698 Raw materials 35,338 43,599 Inventory valuation reserve (1,075) (1,162) Total $ 82,228 $ 91,135

Cash and Cash Equivalents, Re_2

Cash and Cash Equivalents, Restricted Cash and Marketable Securities (Tables)	9 Months Ended
	Sep. 30, 2024
Cash and Cash Equivalents [Abstract]
Summary of Company's Cash and Cash Equivalents	The following table presents the Company’s cash and cash equivalents: September 30, 2024 December 31, 2023 Recurring Fair (In thousands) Cash and cash equivalents: Cash $ 22,674 $ 32,526 Money market funds 136,914 39,344 Level 2 Total cash and cash equivalents $ 159,588 $ 71,870

Intangible Assets, Goodwill a_2

Intangible Assets, Goodwill and Other (Tables)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets and Goodwill	The following table presents identifiable intangible assets: September 30, 2024 Useful Gross Accumulated Net (In thousands) Indefinite-lived intangible assets: Trade names Indefinite $ 21,195 $ — $ 21,195 Spectrum and licenses Indefinite 14,030 — 14,030 Total 35,225 — 35,225 Definite-lived intangible assets: Intellectual property 20 years 16,439 (11,312) 5,127 Patents 14 - 20 years 587 (199) 388 Customer relationships 12 years 57,000 (4,497) 52,503 Total 74,026 (16,008) 58,018 Total intangible assets $ 109,251 $ (16,008) $ 93,243	December 31, 2023 Useful Gross Accumulated Net (In thousands) Indefinite-lived intangible assets: Trade names Indefinite $ 21,195 $ — $ 21,195 Spectrum and licenses Indefinite 14,030 — 14,030 Total 35,225 — 35,225 Definite-lived intangible assets: Intellectual property 20 years 16,439 (10,987) 5,452 Assembled workforce 7 years 5,678 (5,678) — Patents 14 - 20 years 587 (169) 418 Total 22,704 (16,834) 5,870 Total intangible assets $ 57,929 $ (16,834) $ 41,095

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Interest incurred	The following table presents the interest and amortization of deferred financing fees related to the Term Loan: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Total interest incurred $ 27,797 $ 37,277 $ 77,101 $ 80,584 Amortization of deferred financing fees $ 657 $ 1,087 $ 1,918 $ 3,327 Capitalized interest $ 1,272 $ 1,121 $ 3,460 $ 3,847

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments, Gain (Loss)	The following table presents the amount of unrealized gain or loss and related tax impact associated with the Cap that the Company recorded in its condensed consolidated statements of operations and comprehensive income (loss): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Unrealized gain (loss), net of tax $ (19,401) $ 2,011 $ (17,518) $ 2,416 Tax benefit (expense) $ 5,957 $ (621) $ 5,094 $ (761)

Revenue (Tables)

Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Summary of Company's service revenue	The following table summarizes the Company’s services revenue: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Commercial services revenue: Voice and data $ 57,693 $ 56,188 $ 169,125 $ 163,593 IoT data 43,695 38,460 124,759 104,971 Broadband 15,549 15,782 42,719 43,258 Hosted payload and other data 16,372 15,020 44,750 45,119 Total commercial services revenue 133,309 125,450 381,353 356,941 Government services revenue 26,546 26,500 79,546 79,500 Total services revenue $ 159,855 $ 151,950 $ 460,899 $ 436,441
Summary of Company's Engineering and Support Services Revenue [Table Text Block]	The following table summarizes the Company’s engineering and support services revenue: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Commercial $ 1,731 $ 1,881 $ 4,404 $ 9,304 Government 29,016 23,349 82,569 60,764 Total engineering and support services revenue $ 30,747 $ 25,230 $ 86,973 $ 70,068
Schedule of recognized contract costs	The following table presents contract assets not separately disclosed: September 30, 2024 December 31, 2023 (In thousands) Contract Assets: Commissions $ 1,056 $ 1,114 Other contract costs $ 1,841 $ 1,970

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Operating Lease, Lease Income [Table Text Block]	The following table presents future income with respect to the Company’s operating leases in which it is the lessor existing at September 30, 2024, exclusive of the $9.3 million recognized during the nine months ended September 30, 2024, by year and in the aggregate: Year Ending December 31, Amount (In thousands) 2024 $ 3,098 2025 12,391 2026 12,391 2027 12,391 2028 12,391 Thereafter 82,106 Total lease income $ 134,768

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity	The following tables summarize the Company’s RSU activity: Shares Underlying RSUs Weighted- (In thousands) Outstanding at December 31, 2023 2,795 $ 40.24 Granted 2,497 30.07 Forfeited (83) 38.24 Released (1,197) 43.69 Outstanding at September 30, 2024 4,012 $ 32.92 Vested and unreleased at September 30, 2024 (1) 525	Shares Underlying RSUs Weighted- (In thousands) Outstanding at December 31, 2022 2,970 $ 31.60 Granted 1,102 59.20 Forfeited (43) 44.15 Released (999) 37.37 Outstanding at September 30, 2023 3,030 $ 39.52 Vested and unreleased at September 30, 2023 (1) 793
Share-based Payment Arrangement, Option, Activity	A summary of the activity of the Company’s stock options is as follows: Shares Weighted- Weighted- Aggregate (In thousands, except years and per share data) Options outstanding at December 31, 2023 676 $ 11.55 2.39 $ 20,036 Exercised (298) 9.62 $ 5,488 Options outstanding and exercisable at September 30, 2024 378 $ 13.08 2.37 $ 6,571	Shares Weighted- Weighted- Aggregate (In thousands, except years and per share data) Options outstanding at December 31, 2022 1,185 $ 9.97 2.64 $ 49,094 Cancelled or expired (4) 10.25 Exercised (486) 7.72 $ 26,420 Options outstanding and exercisable at September 30, 2023 695 $ 11.54 2.66 $ 23,616

Business Combinations, Asset _2

Business Combinations, Asset Acquisitions, and Joint Venture Formation (Tables)	9 Months Ended
	Sep. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The following table summarizes the estimated fair values of the assets acquired and liabilities assumed at the acquisition date: April 1, 2024 Fair Value Useful Life (In thousands) Cash $ 14,738 Other current assets 1,901 Customer relationships 57,000 12 years Other noncurrent assets 5,041 Goodwill 100,333 Total identifiable assets acquired 179,013 Liabilities assumed (13,821) Net identifiable assets acquired $ 165,192
BusinessCombinationEarningsOrLossOfAcquireeSinceAcquisitionDateActual	The amounts of revenue and earnings of Satelles included in the Company’s condensed consolidated statements of operations and comprehensive income (loss), excluding the impact of the Company’s remeasurement of its prior equity interest in Satelles, are as follows: Three Months Ended Period from Acquisition Date to (In thousands) (In thousands) Revenue $ 5,257 $ 7,927 Net loss (2,735) (7,529)
Business Acquisition, Pro Forma Information	The following unaudited pro forma data summarizes the results of operations for the periods indicated as if the acquisition of Satelles had been completed as of the beginning of the comparable prior annual reporting period. The unaudited pro forma data gives effect to actual operating results prior to the acquisition, adjusted to include the pro forma effect of amortization of intangibles and the elimination of intercompany sales and acquisition costs. These pro forma amounts are not intended to be indicative of the results that would have actually been obtained if the acquisition had occurred as of the beginning of the comparable prior annual reporting period or that may be obtained in the future. Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Revenue $ 212,770 $ 200,562 $ 619,563 $ 603,968 Net income (loss) 25,652 (4,805) 55,194 (43,440)

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Computations of Basic and Diluted Net Income Per Share	The following table summarizes the computations of basic and diluted net income (loss) per share: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands, except per share data) Numerator: Net income (loss) - basic and diluted $ 24,446 $ (1,642) $ 76,435 $ (22,608) Denominator: Weighted average common shares — basic 117,449 125,176 120,390 126,100 Dilutive effect of stock options 181 — 240 — Dilutive effect of RSUs 481 — 631 — Weighted average common shares — diluted 118,111 125,176 121,261 126,100 Net income (loss) per share - basic and diluted $ 0.21 $ (0.01) $ 0.63 $ (0.18)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	The following table presents the incremental number of shares underlying stock options and RSUs outstanding with anti-dilutive effects: Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (In thousands) (In thousands) Performance-based RSUs — 82 — 168 Service-based RSUs — 500 — 655 Stock options — 443 — 543

Significant Accounting Polici_4

Significant Accounting Policies - Schedule of Inventory (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounting Policies [Abstract]
Finished goods	$ 47,965	$ 48,698
Raw materials	35,338	43,599
Inventory valuation reserve	(1,075)	(1,162)
Inventory	$ 82,228	$ 91,135

Significant Accounting Polici_5

Significant Accounting Policies (Details) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Accounting Policies [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Transfers Into Level 3	$ 0	$ 0
satellite system
Property, Plant and Equipment [Line Items]
Property, Plant and Equipment, Useful Life		17 years 6 months	12 years 6 months

Cash and Cash Equivalents, Re_3

Cash and Cash Equivalents, Restricted Cash and Marketable Securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Cash and cash equivalents:
Total cash and cash equivalents	$ 159,588	$ 71,870
Cash
Cash and cash equivalents:
Cash	22,674	32,526
Money Market Funds | Fair Value, Inputs, Level 2 [Member]
Cash and cash equivalents:
Money market funds	$ 136,914	$ 39,344

Intangible Assets, Goodwill a_3

Intangible Assets, Goodwill and Other (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Apr. 01, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of Intangible Assets	$ 2,400	$ 400	$ 4,900	$ 1,200
Goodwill	100,333		100,333		$ 100,333	$ 0
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	35,225		35,225			35,225
Finite-Lived Intangible Assets, Net	58,018		58,018			5,870
Amortization of Intangible Assets	2,400	$ 400	4,900	$ 1,200
Finite-Lived Intangible Assets, Gross	74,026		74,026			22,704
Intangible assets, net	93,243		93,243			41,095
Intangible Assets, Gross (Excluding Goodwill) [Abstract]	109,251		109,251			57,929
Finite-Lived Intangible Assets, Accumulated Amortization	(16,008)		(16,008)			(16,834)
Goodwill	100,333		100,333		$ 100,333	0
Intellectual Property
Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Net	5,127		5,127			5,452
Finite-Lived Intangible Assets, Gross	16,439		16,439			16,439
Finite-Lived Intangible Assets, Accumulated Amortization	$ (11,312)		$ (11,312)			$ (10,987)
Finite-Lived Intangible Asset, Useful Life	20 years		20 years			20 years
Patents
Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Net	$ 388		$ 388			$ 0
Finite-Lived Intangible Assets, Gross	587		587			5,678
Finite-Lived Intangible Assets, Accumulated Amortization	$ (199)		$ (199)			$ (5,678)
Patents | Minimum
Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	14 years		14 years			14 years
Patents | Maximum
Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	20 years		20 years			20 years
Customer Relationships
Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Assets, Net	$ 52,503		$ 52,503			$ 418
Finite-Lived Intangible Assets, Gross	57,000		57,000			587
Finite-Lived Intangible Assets, Accumulated Amortization	$ (4,497)		$ (4,497)			$ (169)
Assembled Workforce
Indefinite-Lived Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	7 years		7 years			7 years
Trade Names
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 21,195		$ 21,195			$ 21,195
Licensing Agreements
Indefinite-Lived Intangible Assets [Line Items]
Indefinite-Lived Intangible Assets (Excluding Goodwill)	$ 14,030		$ 14,030			$ 14,030

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Thousands				3 Months Ended		9 Months Ended
	Jul. 30, 2024 USD ($) Rate	Jun. 03, 2024 USD ($)	Mar. 25, 2024 USD ($) Rate	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2024 USD ($) Rate	Dec. 31, 2023 USD ($) Rate
Line of Credit Facility [Line Items]
Payments of Financing Costs	$ 2,200	$ 1,900	$ 1,600
Interest Payable						$ 400	$ 1,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Long-term Debt, Gross							$ 100,000
Debt Instrument, Basis Spread on Variable Rate | Rate						2.50%
Line of Credit Facility, Commitment Fee Percentage				0.375%	0.50%
First Lien Net Leverage Ratio							6.25
Credit Facility Drawdown Floor for Application of First Lien Net Leverage Ratio | Rate							35%
Refinanced Term Loan B
Line of Credit Facility [Line Items]
Long-term Debt, Gross							$ 1,500,000
Discount on Debt Issuance [Line Items] | Rate	99%		99.875%				99.75%
Proceeds from Issuance of Debt	$ 200,000		$ 125,000
Debt Instrument, Basis Spread on Variable Rate | Rate						2.25%
Debt Instrument, Periodic Payment, Principal	$ 18,300
Debt instrument face amount						$ 1,812,300	$ 1,500,000
Unamortized Deferred Financing Costs						(17,500)	17,500
Long-term Debt						1,794,800	1,482,500
Long-term Debt, Fair Value						$ 1,782,900	$ 1,506,600
Interest Rate Floor [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate						0%
Interest Rate Floor [Member] | Refinanced Term Loan B
Line of Credit Facility [Line Items]
Debt Instrument, Basis Spread on Variable Rate | Rate						0.75%

Debt - Interest Incurred (Detai

Debt - Interest Incurred (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Debt Disclosure [Abstract]
Interest Costs Incurred	$ 27,797	$ 37,277	$ 77,101	$ 80,584
Amortization of Debt Issuance Costs and Discounts	657	1,087	1,918	3,327
Interest Costs Capitalized	$ 1,272	$ 1,121	$ 3,460	$ 3,847

Derivatives (Details)

Derivatives (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Interest Rate Swap [Line Items]
Interest Costs Incurred	$ 27,797	$ 37,277	$ 77,101	$ 80,584
Derivative, Gain on Derivative	$ 9,800	9,600	$ 29,500	26,300
Refinanced Term Loan B
Interest Rate Swap [Line Items]
Debt Instrument, Basis Spread on Variable Rate			2.25%
Interest Rate Cap
Interest Rate Swap [Line Items]
Derivative, Cap Interest Rate	1.436%		1.436%
Derivative, Fixed Interest Rate	0.31%		0.31%		0.31%
Derivative, Notional Amount	$ 1,000,000		$ 1,000,000		$ 1,000,000
Interest Rate Cash Flow Hedge Asset at Fair Value	41,700		41,700		66,500
Interest Rate Cash Flow Hedge Liability at Fair Value	6,300		6,300		$ 8,400
Interest Costs Incurred	$ 800	$ 800	$ 2,500	$ 2,500

Derivatives - Summary of Unreal

Derivatives - Summary of Unrealized Gains and Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Unrealized gain (loss), net of tax	$ (19,401)	$ 2,011	$ (17,518)	$ 2,416
Tax benefit (expense)	$ 5,957	$ (621)	$ 5,094	$ (761)

Equity Transactions (Details)

Equity Transactions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2016
Class of Stock [Line Items]
Total Authorized Preferred Stock, Number	2,000,000				2,000,000
Preferred stock, par value (in dollars per share)	$ 0.0001				$ 0.0001
Preferred stock, shares issued (in shares)								1,500,000
Shares of preferred stock, undesignated and unissued (in shares)	500,000				500,000		500,000
Preferred stock, shares outstanding (in shares)	0				0		0
Common Stock, Dividends, Per Share, Declared	$ 0.14	$ 0.13	$ 0.13
Payments of Ordinary Dividends, Common Stock					$ 49,103	$ 48,799
Dividends accrued on common stock	$ 2,175			$ 1,087	2,175	$ 1,087	$ 1,300
Stock Repurchase Program, Authorized Amount	$ 1,500,000				$ 1,500,000
Treasury Stock, Shares, Retired	4,700,000			1,400,000	9,800,000	3,400,000
Treasury Stock, Retired, Cost Method, Amount	$ 129,000			$ 73,800	$ 282,300	$ 193,000
Share Repurchase Program, Excise Tax	1,200			$ 700	2,700	1,200
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 552,200				552,200
Treasury Stock, Shares, Acquired	21,000			22,000
Treasury Stock, Value	$ 700			$ 900	$ 700	$ 900

Revenue - Narrative (Details)

Revenue - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Concentration Risk [Line Items]
Liability, revenue recognized	$ 12	$ 3.3	$ 26.4	$ 25.1
Liability, revenue recognized	$ 12	$ 3.3	$ 26.4	$ 25.1
Accounts Receivable [Member] | Customer Concentration Risk | Prime Contracts with the US Government [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage			42%		46%

Revenue - Summary of Service Re

Revenue - Summary of Service Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 212,771	$ 197,602	$ 617,691	$ 595,983
Voice and data
Disaggregation of Revenue [Line Items]
Revenue	57,693	56,188	169,125	163,593
IoT data
Disaggregation of Revenue [Line Items]
Revenue	43,695	38,460	124,759	104,971
Commercial Broadband Services [Member]
Disaggregation of Revenue [Line Items]
Revenue	15,549	15,782	42,719	43,258
Hosted payload and other data
Disaggregation of Revenue [Line Items]
Revenue	16,372	15,020	44,750	45,119
Services
Disaggregation of Revenue [Line Items]
Revenue	159,855	151,950	460,899	436,441
Services | Commercial
Disaggregation of Revenue [Line Items]
Revenue	133,309	125,450	381,353	356,941
Services | US Government [Member]
Disaggregation of Revenue [Line Items]
Revenue	26,546	26,500	79,546	79,500
Engineering and support services
Disaggregation of Revenue [Line Items]
Revenue	30,747	25,230	86,973	70,068
Engineering and support services | Commercial
Disaggregation of Revenue [Line Items]
Revenue	1,731	1,881	4,404	9,304
Engineering and support services | US Government [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 29,016	$ 23,349	$ 82,569	$ 60,764

Revenue - Summary of Contract C

Revenue - Summary of Contract Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Commissions
Capitalized Contract Cost [Line Items]
Contract Assets	$ 1,056	$ 1,114
Other contract costs
Capitalized Contract Cost [Line Items]
Contract Assets	$ 1,841	$ 1,970

Leases (Details)

Leases (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lessor, Lease, Description [Line Items]
Operating Lease, Lease Income	$ 3,100	$ 5,400	$ 9,300	$ 16,100
2024 (Remainder of Fiscal Year)	3,098		3,098
2025	12,391		12,391
2026	12,391		12,391
2027	12,391		12,391
2028	12,391		12,391
Thereafter	82,106		82,106
Total lease income	$ 134,768		$ 134,768
Next Generation Satellites
Lessor, Lease, Description [Line Items]
Property, Plant and Equipment, Useful Life	17 years 6 months		17 years 6 months

Stock-Based Compensation Narrat

Stock-Based Compensation Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, number of shares available for grant (in shares)	8,574,398
Share-based compensation, reduction in shares available for issuance by shares issued pursuant to any appreciation award (in shares)	1
Share-based compensation, strike price as a percentage of the fair market value of the underlying stock on the date of grant	100%
Share-based compensation, reduction in shares available for issuance by shares issued pursuant to any stock award that is not an appreciation award (in shares)	1.8
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting period	4 years	4 years
Stock Option Contractual Term	10 years	10 years
Employee Stock Option | Vesting on first anniversary of grant date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting percentage, year one	25%	25%
Employee Stock Option | Share-based Payment Arrangement, Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, grant date fair value of stock options	$ 0	$ 0
Share-based compensation, options granted (in shares)	0	0
Employee Stock Option | Share-based Payment Arrangement, Employee [Member] | Vesting on the last day of each calendar quarter
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting percentage, year one	6.25%	6.25%
Service Based RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted - restricted stock units	1,579,000	667,000
Share-based compensation, grant date fair value of stock options	$ 46.5	$ 39.9
Service Based RSU | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted - restricted stock units	57,000	53,000
Share-based compensation, grant date fair value of stock options	$ 1.9	$ 2.8
Restricted Stock Units (RSUs) [Member] | Vesting on the last day of each calendar quarter | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting percentage, year one	150%	150%
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Nonemployee [Member] | Vesting on first anniversary of grant date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting percentage, year one	50%	50%
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Nonemployee [Member] | Vesting on the last day of each calendar quarter
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting percentage, year one	12.50%	12.50%
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting period	3 years	4 years
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | Vesting on first anniversary of grant date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting percentage, year one	34%	25%
Restricted Stock Units (RSUs) [Member] | Share-based Payment Arrangement, Employee [Member] | Vesting on the last day of each calendar quarter
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting percentage, year one	8.25%	6.25%
Restricted Stock Units (RSUs) [Member] | Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share Based Compensation Arrangement By Share Based Payment Award Ratably Vest After	100%	100%
Restricted Stock Units (RSUs) [Member] | Director | Share-based Payment Arrangement, Nonemployee [Member] | Vesting on the last day of each calendar quarter
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting percentage, year one	100%	100%
Performance Based RSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting period	1 year	1 year
Granted - restricted stock units	461,000	193,000
Share-based compensation, grant date fair value of stock options	$ 13.7	$ 11.9
Performance Based RSU | Executives
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting period	3 years	3 years
Granted - restricted stock units	303,000	134,000
Share-based compensation, grant date fair value of stock options	$ 9
Share-based Compensation Arrangement by Share-based Payment Award, Other Share Increase (Decrease)	83,000	55,000
Share-based Compensation Arrangement by Share-based Payment Award, Award Performance Period	2 years	2 years
Performance Based RSU | Executives | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting percentage, year one	0%	0%
Performance Based RSU | Executives | Vesting on first anniversary of grant date
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting percentage, year one	50%	50%
Performance Based RSU | Executives | Vesting on the last day of each calendar quarter
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting percentage, year one	50%	50%
Outstanding Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted - restricted stock units	2,497,000	1,102,000

Stock-Based Compensation Outsta

Stock-Based Compensation Outstanding RSUs (Details) - Outstanding Restricted Stock Units - $ / shares shares in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Shares Underlying RSUs
Outstanding - restricted stock units	2,795	2,970
Granted - restricted stock units	2,497	1,102
Forfeited - restricted stock units	(83)	(43)
Released - restricted stock units	(1,197)	(999)
Outstanding - restricted stock units	4,012	3,030
Vested and unreleased restricted stock units	525	793
Weighted- Average Grant Date Fair Value Per RSU
Outstanding - weighted average grant date fair value per RSU	$ 40.24	$ 31.60
Granted - weighted average grant date fair value per RSU	30.07	59.20
Forfeited - weighted average grant date fair value per RSU	38.24	44.15
Released - weighted average grant date fair value per RSU	43.69	37.37
Outstanding - weighted average grant date fair value per RSU	$ 32.92	$ 39.52

Stock-Based Compensation Activi

Stock-Based Compensation Activity of Company's Common Stock Options (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding
Options outstanding, beginning of period (in shares)	676	1,185	1,185
Cancelled or Expired (Shares)		(4)
Exercised (Shares)	(298)	(486)
Options outstanding, end of period (in shares)	378	695	676	1,185
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value [Abstract]
Options outstanding, beginning of period - weighted average exercise price per share	$ 11.55	$ 9.97	$ 9.97
Options cancelled or expired - weighted average exercise price per share		10.25
Options exercised - weighted average exercise price per share	9.62	7.72
Options outstanding, end of period - weighted average exercise price per share	$ 13.08	$ 11.54	$ 11.55	$ 9.97
Options outstanding, end of period - weighted average remaining contractual term (years)	2 years 4 months 13 days	2 years 7 months 28 days	2 years 4 months 20 days	2 years 7 months 20 days
Aggregate Intrinsic Value
Options outstanding, end of period - aggregate intrinsic value	$ 6,571	$ 23,616	$ 20,036	$ 49,094
Exercised (Dollar Value)	$ 5,488	$ 26,420

Business Combinations, Asset _3

Business Combinations, Asset Acquisitions, and Joint Venture Formation (Details) - USD ($) $ in Thousands	Apr. 01, 2024	Sep. 30, 2024	Mar. 31, 2024
Business Acquisition [Line Items]
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Costs		$ 2,800
Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain	$ 19,800
Satelles Inc.
Business Acquisition [Line Items]
Equity Method Investments, Fair Value Disclosure	39,700
Ownership stake			19.50%
Equity Method Investments, Fair Value Disclosure	$ 39,700
Satelles Acquiree
Business Acquisition [Line Items]
Business Acquisition, Percentage of Voting Interests Acquired	80.50%
Business Combination, Consideration Transferred	$ 125,500

Business Combinations, Asset _4

Business Combinations, Asset Acquisitions, and Joint Venture Formation (Details) - USD ($) $ in Thousands	Apr. 01, 2024	Sep. 30, 2024	Dec. 31, 2023
Business Acquisition [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Cash and Equivalents	$ 14,738
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Current Assets, Other	1,901
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	57,000
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Other Noncurrent Assets	5,041
Goodwill	100,333	$ 100,333	$ 0
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets	179,013
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Liabilities	13,821
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net	$ 165,192
Customer Relationships
Business Acquisition [Line Items]
Acquired Finite-Lived Intangible Assets, Weighted Average Useful Life	12 years

Business Combinations, Asset _5

Business Combinations, Asset Acquisitions, and Joint Venture Formation (Details) - Acquisition-related Costs [Member] - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Business Combination Earnings Or Loss of Acquiree Since Acquisition Date Actual [Line Items]
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual	$ 5,257	$ 7,927
Business Combination, Pro Forma Information, Earnings or Loss of Acquiree since Acquisition Date, Actual	$ (2,735)	$ (7,529)

Business Combinations, Asset _6

Business Combinations, Asset Acquisitions, and Joint Venture Formation (Details) - Acquisition-related Costs [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Revenues	$ 212,770	$ 200,562	$ 619,563	$ 603,968
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ 25,652	$ (4,805)	$ 55,194	$ (43,440)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	$ 30,918	$ (6,162)	$ 79,272	$ (34,960)
Income tax benefit (expense)	$ (6,005)	$ 6,009	$ (18,501)	$ 16,673
Effective Income Tax Rate Reconciliation, Percent	19.40%	97.50%	23.30%	47.70%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%	21%	21%

Related Party Transactions Rela

Related Party Transactions Related Party Transactions (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Equity Method Investments	$ 42,988,000		$ 42,988,000			$ 67,130,000
Nonconsolidated Investees, Other
Related Party Transaction [Line Items]
Ownership stake	39.50%		39.50%			39.50%
Satelles Inc.
Related Party Transaction [Line Items]
Ownership stake					19.50%
Aireon 2022 Preferred Equity Investment
Related Party Transaction [Line Items]
Payments for (Proceeds from) Investments			$ 50,000,000
Equity Method Investments	$ 42,200,000		$ 42,200,000			$ 44,600,000
Aireon 2022 Preferred Equity Investment | Nonconsolidated Investees, Other
Related Party Transaction [Line Items]
Ownership stake	6%		6%
Hosting Agreement | Equity Method Investee
Related Party Transaction [Line Items]
Revenues	$ 2,300,000	$ 4,000,000	$ 6,900,000	$ 12,000,000
Service Agreements [Member] | Equity Method Investee
Related Party Transaction [Line Items]
Revenues	5,900,000	$ 5,900,000	17,600,000	$ 11,700,000
Administrative and support agreement accounts receivable | Equity Method Investee
Related Party Transaction [Line Items]
Nontrade Receivables	2,100,000		2,100,000			2,200,000
Aireon Investor Bridge Loan
Related Party Transaction [Line Items]
Bridge Loan	0		0			0
Investor Bridge Loan Commitment	$ 11,900,000		11,900,000			$ 11,900,000
Maximum [Member] | Hosting Agreement | Equity Method Investee
Related Party Transaction [Line Items]
Revenues			200,000,000
Maximum [Member] | Power Agreement [Member] | Equity Method Investee
Related Party Transaction [Line Items]
Revenues			23,500,000
Minimum [Member] | Hosting Agreement | Equity Method Investee
Related Party Transaction [Line Items]
Revenues			$ 102,500,000

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net income (loss) - diluted	$ 24,446	$ (1,642)	$ 76,435	$ (22,608)
Weighted Average Number of Shares Outstanding, Basic	117,449	125,176	120,390	126,100
Weighted Average Number of Shares Outstanding, Diluted	118,111	125,176	121,261	126,100
Earnings Per Share, Basic and Diluted	$ 0.21	$ (0.01)	$ 0.63	$ (0.18)
Employee Stock Option
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units	181	0	240	0
Restricted Stock [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units	481	0	631	0

Net Income (Loss) Per Share - A

Net Income (Loss) Per Share - Anti-Dilutive Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Performance Based RSU
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	0	82	0	168
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	0	500	0	655
Employee Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of diluted earnings per share	0	443	0	543