Technology

Iridium Announces First Quarter 2026 Results

Published

15 hours ago

April 23, 2026

MCLEAN, Va., April 23, 2026 /PRNewswire/ — Iridium Communications Inc. (Nasdaq: IRDM) (“Iridium” or the “Company”), a leading provider of global voice, data, and PNT satellite services, today reported financial results for the first quarter of 2026 and reiterated its full-year 2026 outlook.

Iridium reported first quarter total revenue of $219.1 million, which consisted of $158.0 million of service revenue and $61.0 million of revenue related to equipment sales and engineering and support projects. Total revenue increased 2% versus the comparable period of 2025. Service revenue, which primarily represents recurring revenue from Iridium’s growing subscriber base, grew 2% from the year-ago period and was 72% of total revenue for the first quarter of 2026.

“2026 is off to a solid start, as we continue to grow service revenue and introduce new products, like our next-generation IoT platform,” said Matt Desch, CEO, Iridium. “We continue to invest in key areas of differentiation, which offer attractive opportunities for growth, including IoT, PNT, national security missions and aviation safety services.”

Income from Operations

Net income was $21.6 million, or $0.20 per diluted share, for the first quarter of 2026, as compared to net income of $30.4 million, or $0.27 per diluted share, for the first quarter of 2025. Operational EBITDA (“OEBITDA”)(1) for the first quarter was $116.3 million, as compared to $122.1 million for the prior-year period. The year-over-year OEBITDA decline was driven by a $4.2 million increase in accrued expenses related to a change in practice to pay annual incentive compensation entirely in cash rather than a mix of equity and cash, which the Company previewed on its fourth quarter earnings call.

Subscribers

The Company ended the first quarter with 2,555,000 total billable subscribers, up from 2,443,000 for the year-ago period and 2,537,000 for the quarter ended December 31, 2025. Total billable subscribers grew 5% year-over-year, led by growth in commercial IoT.

Business Highlights

Service – Commercial

Commercial service remained the largest part of Iridium’s business, representing 60% of the Company’s total revenue during the first quarter. The Company’s commercial customer base is diverse and includes the aviation, construction, emergency services, forestry, maritime, mining, oil and gas, recreation, and transportation markets, among others. Iridium’s products and services are critical to these customers’ daily operations and integral to their communications and business infrastructure.

Commercial service revenue was $130.4 million, up 2% from the comparable period last year.Commercial voice and data: Revenue was $57.4 million, up 3% from the year-ago period. Subscribers fell 2% from the year-ago period to 399,000. Average revenue per user (“ARPU”) increased to $48 during the first quarter, compared to $45 in last year’s comparable period, driven primarily by price actions implemented during the third quarter of 2025.Commercial IoT data: Revenue was $46.0 million, up 5% from the year-ago period. Subscribers grew 7% from the year-ago period to 2,019,000. ARPU was $7.63 in the first quarter, compared to $7.75 in last year’s comparable period.Commercial broadband: Revenue was $12.2 million, down 5% from the year-ago period. Subscribers declined 1% from the year-ago period to 16,100. ARPU was $254 during the first quarter, compared to $261 in last year’s comparable period, reflecting the increased prevalence of Iridium’s use in lower-priced companion plans.Hosted payload and other data service: Revenue was $14.8 million, down 1% from the year-ago period.Iridium’s commercial business ended the quarter with 2,434,000 billable subscribers, which is up from 2,310,000 for the prior-year quarter and compares to 2,416,000 for the quarter ended December 31, 2025. IoT data subscribers represented 83% of billable commercial subscribers at the end of the first quarter, an increase from 82% at the end of the prior-year period.

Service – U.S. Government

Iridium’s voice and data solutions improve situational awareness for military personnel and track critical assets in tough environments around the globe, providing a unique value proposition. Under Iridium’s Enhanced Mobile Satellite Services contract (the “EMSS Contract”), a seven-year, $738.5 million fixed-price airtime contract with the U.S. Space Force signed in September 2019, Iridium provides specified satellite airtime services for an unlimited number of Department of War (formerly Department of Defense) and other federal government subscribers. Iridium also provides maintenance and support work for the U.S. government’s dedicated Iridium® gateway under two other contracts with the U.S. Space Force, the revenue of which is included in engineering and support services revenue. Iridium Certus® airtime services are not included under these contracts and may be procured separately for an additional fee.

Government service revenue grew 3% to $27.6 million in the first quarter, reflecting contractual rate increases in the EMSS Contract over the prior year.Under the terms of the multi-year EMSS Contract, Iridium’s fixed-price rate increased to $110.5 million for the contract year beginning September 15, 2025.Iridium’s U.S. government business ended the quarter with 121,000 subscribers, which compares to 133,000 for the prior-year quarter and 121,000 for the quarter ended December 31, 2025. Government voice and data subscribers declined 20% from the year-ago period to 43,000 as of March 31, 2026. Government IoT data subscribers remained relatively flat year-over-year and represented 64% of government subscribers at the end of the first quarter.

Equipment

Equipment revenue was $20.2 million in the first quarter, down 13% compared to $23.1 million in the prior-year quarter.For the full-year 2026, the Company expects equipment sales will be in line with 2025.

Engineering & Support

Engineering and support revenue was $40.8 million during the first quarter, up 9% compared to $37.5 million in the prior-year quarter, primarily due to increasing activity with the U.S. government.For the full-year 2026, the Company expects engineering and support revenue to increase from 2025.

Capital Allocation

Capital expenditures were $30.0 million for the first quarter, including $1.4 million in capitalized interest. The Company ended the first quarter with gross debt of $1.8 billion, and a cash and cash equivalents balance of $111.6 million, for a net debt balance of $1.7 billion. The Company ended the first quarter with net leverage of 3.4 times trailing twelve months OEBITDA.

Iridium paid its first quarter dividend of $0.15 per share of common stock on March 31, 2026, resulting in a total payment of $16.5 million to stockholders. The Company’s Board of Directors has increased the dividend paid per share each year since initiating a dividend in 2023.

2026 and Longer-Term Outlook

The Company reiterated its full-year 2026 outlook and reaffirmed its long-term guidance on cash taxes and net leverage:

Total service revenue projected to be flat to 2% for full-year 2026. Total service revenue for 2025 was $634.0 million.Net income for 2025 was $114.4 million and OEBITDA for 2025 was $495.3 million. In 2026, the Company determined to pay annual incentive compensation entirely in cash, rather than a mix of equity and cash as has been the Company’s prior practice. This change is projected to have a $17 million impact to OEBITDA, resulting in expected full-year 2026 OEBITDA of $480 million to $490 million. Without this change, OEBITDA would have been projected to be in a range of $497 million to $507 million.Cash taxes of less than $10 million per year through 2027. The Company’s longer-term cash tax rate is expected to move closer to the statutory rate in 2029.Net leverage at or below 3.0 times OEBITDA by the end of 2026 and falling below 2.0 times OEBITDA by the end of the decade. Net leverage was 3.4 times OEBITDA at December 31, 2025.

(1) Non-GAAP Financial Measures & Definitions

In addition to disclosing financial results that are determined in accordance with U.S. GAAP, the Company reports OEBITDA, which is a non-GAAP financial measure, as a supplemental measure to help investors evaluate the Company’s fundamental operational performance. OEBITDA represents earnings before interest, income taxes, depreciation and amortization, gain (loss) on equity method investments, transaction related expenses, and share-based compensation expenses. The Company considers the loss on early extinguishment of debt to be financing-related costs associated with interest expense or amortization of financing fees, which by definition are excluded from OEBITDA. Management believes such charges are incidental to, but not reflective of, the Company’s day-to-day operating performance. OEBITDA does not represent, and should not be considered, an alternative to U.S. GAAP measurements such as net income or loss. In addition, there is no standardized measurement of OEBITDA, and the Company’s calculations thereof may not be comparable to similarly titled measures reported by other companies. The Company believes OEBITDA is a useful measure across time in evaluating its fundamental core operating performance. Management also uses OEBITDA to manage the business, including in preparing its annual operating budget, debt covenant compliance, financial projections and compensation plans. The Company believes that OEBITDA is also useful to investors because similar measures are frequently used by securities analysts, investors and other interested parties in their evaluation of companies in similar industries. As indicated, OEBITDA does not include interest expense on borrowed money, the payment of income taxes, amortization of the Company’s definite-lived intangible assets, or depreciation expense on the Company’s capital assets, which are necessary elements of the Company’s operations. Since OEBITDA does not account for these and other expenses, its utility as a measure of the Company’s operating performance has material limitations. Due to these limitations, the Company’s management does not view OEBITDA in isolation, but also uses other measurements, such as net income, revenues and operating profit, to measure operating performance. Please refer to the schedule below for a reconciliation of consolidated GAAP net income to OEBITDA and Iridium’s Investor Relations webpage at www.iridium.comfor a discussion and reconciliation of this and other non-GAAP financial measures. The Company does not provide a forward-looking reconciliation of expected full year 2026 OEBITDA guidance as the amount and significance of certain items such as share-based compensation, transaction related expenses and gain/loss on equity method investments, that are required to develop meaningful comparable GAAP financial measures cannot be estimated at this time without unreasonable efforts.

Iridium Communications Inc.

Supplemental Reconciliation of GAAP Net Income to Operational EBITDA

(In thousands)

Three Months Ended March 31,

Year Ended December 31,

2026

2025

GAAP net income

$ 21,594

$ 30,412

$ 114,372

Interest expense, net

19,366

21,824

88,252

Income tax expense

8,827

5,819

27,618

Depreciation and amortization

53,741

51,667

210,207

Share-based compensation

11,382

11,748

51,579

Transaction related expenses(1)

699

—

479

Loss on equity method investments

732

648

2,823

Operational EBITDA

$ 116,341

$ 122,118

$ 495,330

(1)

Represents direct costs incurred in connection with the evaluation, negotiation, consummation, financing and integration of strategic transactions, including, acquisitions, divestitures and investments, whether or not actually completed. These costs generally include legal and advisory fees, severance and other related costs.

Conference Call Information

As previously announced, the Company will host a conference call to discuss its results at 8:30 a.m. Eastern Time on Thursday, April 23, 2026. Callers should dial 1-412-902-6740 to access the call. The conference call will also be simultaneously webcast on Iridium’s Investor Relations webpage at www.iridium.com. An archive of the webcast will be available following the live conference call.

About Iridium Communications Inc.

Iridium Communications Inc. (Nasdaq: IRDM) operates the world’s only truly global mobile satellite network, delivering reliable voice, data, and positioning, navigation and timing (PNT) services anywhere on Earth. Iridium supports safety- and mission-critical operations for diverse markets such as aviation, maritime, government, emergency services, critical infrastructure, autonomous systems, and remote monitoring applications, where connectivity is essential.

Headquartered in McLean, Va., Iridium provides its products and services through an ecosystem of 500-plus partner companies around the world. For more information, visit www.iridium.com.

Forward-Looking Statements

Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding Iridium’s strategy and growth opportunities; expectations with respect to total service revenue growth, subscribers, OEBITDA, cash taxes and net leverage for 2026; cash taxes and net leverage over the long term; anticipated equipment sales and engineering and support service revenue for 2026; the payment of dividends, and expected revenue from the EMSS Contract with the U.S. government. Forward-looking statements can be identified by the words “anticipates,” “may,” “can,” “believes,” “expects,” “projects,” “intends,” “likely,” “will,” “to be” and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance, or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding customer demand for Iridium’s products and services, including demand from the U.S. government; Iridium’s ability to maintain the health, capacity and content of its satellite constellation; the development of and market for Iridium’s products and services; increased competition; changes in trade policy, including tariff rates, as well as general industry and economic conditions; and legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption “Risk Factors” in the Company’s Form 10-K for the year ended December 31, 2025, filed with the Securities and Exchange Commission (“SEC”) on February 12, 2026, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium’s expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium’s underlying assumptions prove incorrect, actual results may differ materially from those expected, estimated or projected. Iridium’s forward-looking statements are based on information available to it as of the date of this press release and speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements, except as required by applicable law.

Iridium Communications Inc.

Condensed Consolidated Statements of Operations

(In thousands)

Three Months Ended March 31,

2026

2025

Revenue

Service revenue

Commercial

$ 130,404

$ 127,542

Government

27,625

26,750

Total service revenue

158,029

154,292

Subscriber equipment

20,219

23,121

Engineering and support service

40,809

37,465

Total revenue

219,057

214,878

Operating expenses

Cost of services (exclusive of depreciation and amortization)

49,636

48,787

Cost of subscriber equipment sales

13,014

12,867

Research and development

6,174

5,417

Selling, general and administrative

45,779

35,752

Depreciation and amortization

53,741

51,667

Total operating expenses

168,344

154,490

Operating income

50,713

60,388

Other expense, net

Interest expense, net

(19,366)

(21,824)

Other expense, net

(194)

(1,685)

Total other expense, net

(19,560)

(23,509)

Income before income taxes and loss on equity method investments

31,153

36,879

Income tax expense

(8,827)

(5,819)

Loss on equity method investments

(732)

(648)

Net income

$ 21,594

$ 30,412

Operational EBITDA

$ 116,341

$ 122,118

Iridium Communications Inc.

Summary Revenue and OEBITDA Highlights

(In thousands)

Three Months Ended March 31,

2026

2025

% Change

Revenue

Service revenue(1)

Commercial service revenue

Voice and data

$ 57,433

$ 55,942

3 %

IoT data(2)

45,966

43,856

5 %

Broadband(3)

12,222

12,876

-5 %

Hosted payload and other data service(4)

14,783

14,868

-1 %

Total commercial service revenue

130,404

127,542

2 %

Government service revenue(5)

27,625

26,750

3 %

Total service revenue

158,029

154,292

2 %

Subscriber equipment

20,219

23,121

-13 %

Engineering and support(6)

Commercial

1,344

1,638

-18 %

Government

39,465

35,827

10 %

Total engineering and support

40,809

37,465

9 %

Total revenue

$ 219,057

$ 214,878

2 %

Operational EBITDA

$ 116,341

$ 122,118

-5 %

Other

Capital expenditures(7)

$ 29,955

$ 24,546

Net debt(8)

$ 1,663,077

$ 1,772,281

Cash, cash equivalents and marketable securities

$ 111,644

$ 50,899

Revolving Credit Facility

$ —

$ 20,000

Term Loan, gross

$ 1,774,721

$ 1,803,180

Deferred financing costs

(13,537)

(16,213)

Term Loan, net

$ 1,761,184

$ 1,786,967

(1)

Service revenue consists of primarily subscription-based services which often generate a long-term recurring revenue stream from subscribers.

(2)

IoT data service provides a two-way short burst data transmission between Iridium’s network and a telemetry unit, which may be located, for example, on a container in transit or a buoy monitoring oceanographic conditions.

(3)

Broadband is comprised of Iridium OpenPort® and Iridium Certus.

(4)

Hosted payload and other services consist primarily of services that do not have traditional billable subscribers. Hosted payload services consist of hosting and data services to our payload customers, Aireon LLC and L3Harris Technologies, Inc. Other services include primarily Iridium’s one-way satellite timing, location, and authentication services (STL) which provides position, navigation and timing technology.

(5)

Government service revenue consists of voice and IoT data subscription-based services provided to agencies of the U.S. government through prime contracts.

(6)

Engineering and support includes engineering services for the Space Development Agency contract and to assist commercial customers in developing new technologies for use on Iridium’s satellite system, as well as maintenance services to the U.S. government’s dedicated gateway.

(7)

Capital expenditures based on cash spent in the respective period.

(8)

Net debt is calculated by taking the gross Term Loan and Revolving Credit Facility amounts, less cash, cash equivalents and marketable securities.

Iridium Communications Inc.

Subscriber Highlights

(In thousands, except ARPU)

As of March 31,

2026

2025

% Change

Billable Subscribers (1) (2)

Commercial

Voice and data, IoT data and Broadband service

Voice and data

399

409

-2 %

IoT data

2,019

1,885

7 %

Broadband (3)

16.1

16.3

-1 %

Total commercial voice and data, IoT data and Broadband service

2,434

2,310

5 %

Government

Voice and data and IoT data service

Voice and data

-20 %

IoT data

-1 %

Total government voice and data and IoT data service

121

133

-9 %

Total billable subscribers

2,555

2,443

5 %

Three Months Ended March 31,

2026

2025

Net Billable Subscriber Additions

Commercial

Voice and data. IoT data and Broadband service

Voice and data

(3)

(6)

IoT data

(2)

Broadband

—

(0.3)

Total commercial voice and data, IoT data and Broadband service

(8)

Government

Voice and data and IoT data service

Voice and data

—

(8)

IoT data

—

Total government voice and data and IoT data service

—

(8)

Total net billable subscriber additions

(16)

Three Months Ended March 31,

2026

2025

% Change

ARPU (2) (4)

Commercial

Voice and data

$ 48

$ 45

7 %

IoT data

$ 7.63

$ 7.75

-2 %

Broadband

$ 254

$ 261

-3 %

(1)

Subscribers as of the end of the respective period.

(2)

Billable subscriber and average monthly revenue per unit (“ARPU”) data is not applicable for Hosted payload and other data service revenue items and is excluded from presentation above.

(3)

Broadband is comprised of Iridium OpenPort® and Iridium Certus.

(4)

ARPU is calculated by dividing revenue in the respective period by the average of the number of billable subscribers at the beginning of the period and the number of billable subscribers at the end of the period and then dividing the result by the number of months in the period.

Investor Contact:

Press Contact:

Kenneth Levy

Jordan Hassin

Iridium Communications Inc.

+1 (703) 287-7570

+1 (703) 287-7421

ken.levy@iridium.com

jordan.hassin@iridium.com

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SOURCE Iridium Communications Inc.

Technology

TOTAL PLAY ANNOUNCES REVENUE OF Ps.11,177 MILLION AND EBITDA OF Ps.4,849 MILLION IN THE FIRST QUARTER OF 2026

Published

36 minutes ago

April 24, 2026

—Growth of 115,020 net subscribers in Totalplay Residencial in the period strengthens the company’s service revenues—

—EBITDA less Capex and interest reached Ps.883 million, the highest level ever recorded for a first quarter—

—A 9% reduction in debt with cost from loans provides additional strength to the company’s capital structure—

MEXICO CITY, April 23, 2026 /PRNewswire/ — Total Play Telecomunicaciones, S.A.P.I. de C.V. (“Total Play”), a leading telecommunications company in Mexico, which offers internet access, pay television and telephony services, through one of the largest 100% fiber optic networks in the country, announced today financial results for the first quarter of 2026.

“The growing preference of millions of homes for our technologically advanced internet services, with superior stability and speed, resulted in a net increase of 115,020 subscribers in the quarter, which continued to drive the company’s revenue,” commented Eduardo Kuri, CEO of Total Play. “The growth of our operations was consistent with the Capex which represented only 22% of revenue, and interest payments that decreased double-digit, in the context of lower debt with cost at the company. This resulted in a 51% increase in cash generation — defined as EBITDA less Capex and interest paid — reaching a record high of Ps.883 million in the period.”

“Regarding the balance sheet, we began this quarter with the amortization schedule for the Senior Secured Notes due 2028 — through a principal payment of US$15 million for the period — which adds to the US$56 million amortization of the remaining balance of the Senior Notes due in 2025 — done in the previous quarter — which, among other debt payments, contributed to a 9% reduction in our balance of debt with cost from loans,” added Mr. Kuri. “Simultaneously, we were able to decrease our lease liabilities by 30% and our trade payables by 22%, further strengthening Total Play’s solid capital structure.”

First quarter results

Revenue for the quarter was Ps.11,177 million, 3% higher than Ps.10,843 million for the same period of the previous year. Total costs and expenses were Ps.6,328 million, compared to Ps.5,761 million in the prior year.

As a result, Total Play’s EBITDA was Ps.4,849 million, from Ps.5,082 million a year ago; the quarter’s EBITDA margin was 43%. The company reported operating profit of Ps.301 million, compared to Ps.763 million a year earlier.

Total Play reported a net loss of Ps.1,327 million from a loss of Ps.1,961 million in the same quarter of 2025.

Q1 2025

Q1 2026

Change

Ps.

Revenue from services

$10,843

$11,177

$334

3 %

EBITDA

$5,082

$4,849

$(233)

(5) %

Operating income

$763

$301

$(462)

(61) %

Net result

$(1,961)

$(1,327)

$634

32 %

Amounts in millions of pesos.
EBITDA: Earnings before interest, taxes, depreciation, and amortization.

Revenue from services

The company’s revenue increased 3%, as a result of 3% growth in sales in the residential segment and 4% growth in revenue from the enterprise segment.

Totalplay Residential’s revenue increase to Ps.9,848 million, up from Ps.9,570 million the previous year, is related to a 4% increase in the number of the company’s service subscribers compared to the same quarter of the previous year, reaching 5,554,374 this period — a figure that includes 67,856 small and medium-sized businesses. Compared to the previous quarter, the subscriber base increased by 115,020 users. The company believes that the number of subscribers achieved this quarter reflects its remarkable ability to offer technologically advanced internet services — with superior stability and speed — continuous innovation in its entertainment platform, and service excellence.

Average revenue per subscriber (ARPU) for the quarter was Ps.588, compared to Ps.597 a year ago. The decrease in ARPU is largely related to a growing proportion of double-play subscribers compared to triple-play subscribers within the total residential subscriber base.

The number of homes passed by Total Play in Mexico at the end of this period was 19.5 million, compared to 17.6 million a year ago.

Penetration — the proportion of homes passed by Total Play that have the company’s telecommunications services — was 28.5% at the end of the quarter from 30.2% a year ago.

Revenue from the enterprise segment was Ps.1,329 million, up from Ps.1,273 million in the previous year, as a result of contracting Total Play services for the development of corporate client projects.

Costs and expenses

Total costs and expenses increased 10% as a result of a 4% increase in service costs and a 12% increase in expenses.

The increase in costs to Ps.1,663 million from Ps.1,597 million in the previous year, results mainly from higher costs related to memberships, maintenance and support, partially offset by lower content costs — as a result of a higher proportion of double play users in the mix of residential service subscribers and the negotiation of terms, in an optimal way, with content producers —.

The increase in expenses to Ps.4,665 million from Ps.4,164 million reflects higher maintenance, personnel, advertising and promotion expenses, in the context of the company’s growing operations.

EBITDA and net result

Total Play’s EBITDA was Ps.4,849 million compared to Ps.5,082 million the previous year.

Relevant variations below EBITDA were the following:

An increase of Ps.229 million in depreciation and amortization, as a result of user acquisition costs — telecommunications equipment, labor and installation in the period.

A Decrease of Ps.189 million in accrued interest payable, in the context of reducing the company’s debt with cost balance during the period.

Changes in the fair value of financial instruments of Ps.921 million, due to costs related to hedging options in the previous year.

Other financial income of Ps.31 million, compared to other expenses of Ps.200 million in the previous year, as a result of costs related to debt issuances a year ago.

A, increase of Ps.109 million in exchange losses as a result of net liability monetary position in foreign currency, together with greater depreciation of the peso against the basket of currencies in which the company’s monetary liabilities are denominated this quarter, compared to the previous year.

Total Play reported a net loss of Ps.1,327 million from a net loss of Ps.1,961 million in the same period of 2025.

Balance sheet

As of March 31, 2026, the company’s debt with cost from loans was Ps.55,477 million, 9% lower than the Ps.60,806 million of the previous year. The reduction resulted from various debt with cost amortizations during the period, including US$15 million of the company’s Senior Secured Notes due 2028 this quarter and US$56 million of the remaining Senior Notes due 2025, done last November, partially offset by the issuance of US$200 million in Additional Notes to the Senior Secured Notes due 2032, announced in April 2025.

Lease liabilities were Ps.2,756 million, 30% lower compared to Ps.3,917 million in the previous year.

Cash and cash equivalents, as well as restricted cash in trusts, was Ps.6,477 million, compared to Ps.10,008 million a year ago. As a result, the company’s net debt was Ps.51,756 million, 5% lower compared to Ps.54,715 million in the previous year.

The debt ratio — Net Debt / EBITDA of the last two quarters annualized — was 2.62 times.

Total Play’s fixed assets — which include accumulated investment in fiber optics, telecommunications equipment and subscriber acquisition costs, among other assets — were Ps.79,312 million, compared to Ps.85,944 million a year ago.

About Total Play

Total Play is a leading Triple Play provider in Mexico that, thanks to the widest direct-to-home fiber optic network in the country, offers entertainment and technologically advanced services with the highest quality and speed in the market. For the latest news and updates about Total Play, visit: www.totalplay.com.mx.

Total Play is a Grupo Salinas company (www.gruposalinas.com), a group of dynamic, fast-growing, and technologically advanced companies focused on creating economic value through market innovation and goods and services that improve standards of living; social value to improve community well-being; and environmental value by reducing the negative impact of its business activities. Created by Mexican entrepreneur Ricardo B. Salinas (www.ricardosalinas.com), Grupo Salinas operates as a management development and decision forum for the top leaders of member companies. Each of the Grupo Salinas companies operates independently, with its own management, board of directors, and shareholders. Grupo Salinas has no equity holdings. The group of companies shares a common vision, values, and strategies for achieving rapid growth, superior results, and world-class performance.

Except for historical information, the matters discussed in this press release are concepts about the future that involve risks and uncertainty that may cause actual results to differ materially from those projected. Other risks that may affect Total Play and its subsidiaries are presented in documents sent to the securities authorities.

Investor Relations:

Bruno Rangel

Rolando Villarreal

+ 52 (55) 1720 9167

jrangelk@totalplay.com.mx

rvillarreal@totalplay.com.mx

Press Relations:

Luciano Pascoe

Tel. +52 (55) 1720 1313 ext. 36553

lpascoe@gruposalinas.com.mx

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.

Consolidated Quarterly Income Statements

(Millions of Mexican pesos)

1Q 25

1Q 26

Change

Revenue from services

10,843

100 %

11,177

100 %

334

3 %

Cost of services

(1,597)

(15 %)

(1,663)

(15 %)

(66)

(4 %)

Gross profit

9,246

85 %

9,514

85 %

268

3 %

General expenses

(4,164)

(38 %)

(4,665)

(42 %)

(501)

(12 %)

EBITDA

5,082

47 %

4,849

43 %

(233)

(5 %)

Depreciation and amortization

(4,319)

(40 %)

(4,548)

(41 %)

(229)

(5 %)

Operating profit

763

7 %

301

3 %

(462)

(61 %)

Financial cost:

Interest revenue

1 %

0 %

(26)

(46 %)

Accrued interest expense

(1,770)

(16 %)

(1,581)

(14 %)

189

11 %

Change in fair value of financial instruments

(924)

(9 %)

(3)

(0 %)

921

100 %

Other financial (expenses) income

(200)

(2 %)

0 %

231

—

Foreign exchange (loss) – Net

(40)

(0 %)

(149)

(1 %)

(109)

n.m.

(2,878)

(27 %)

(1,672)

(15 %)

1,206

42 %

Loss before income tax provisions

(2,115)

(20 %)

(1,371)

(12 %)

744

35 %

Income tax provision

154

1 %

0 %

(110)

(71 %)

Net loss for the period

(1,961)

(18 %)

(1,327)

(12 %)

634

32 %

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.

Consolidated Statements of Financial Position

(Millions of Mexican pesos)

As of March 2025

As of March 2026

Cambio

ASSETS

Current Assets:

Cash and cash equivalents

7,132

6 %

4,342

4 %

(2,790)

(39 %)

Restricted cash in trusts

2,876

3 %

2,135

2 %

(741)

(26 %)

Customers – net

2,902

3 %

3,016

3 %

114

4 %

Recoverable taxes

3,365

3 %

2,293

2 %

(1,072)

(32 %)

Inventories

2,416

2 %

2,146

2 %

(270)

(11 %)

Derivative financial instruments

193

0 %

–

0 %

(193)

(100 %)

Other current assets

873

1 %

883

1 %

Total current assets

19,757

18 %

14,815

15 %

(4,942)

(25 %)

Non-Current Assets:

Property, plant and equipmente – Net

85,944

77 %

79,312

81 %

(6,632)

(8 %)

Rights-of-use assets -Net

2,849

3 %

1,652

2 %

(1,197)

(42 %)

Trademarks and other assets

2,620

2 %

2,464

3 %

(156)

(6 %)

Total non-current assets

91,413

82 %

83,428

85 %

(7,985)

(9 %)

Total assets

1,11,170

100 %

–

98,243

100 %

(12,927)

(12 %)

LIABILITIES AND STOCKHOLDERS’ EQUITY

Short-Term Liabilities

Financial debt

9,240

8 %

5,435

6 %

(3,805)

(41 %)

Lease liabilities

2,367

2 %

1,749

2 %

(618)

(26 %)

Trade payables

12,719

11 %

9,913

10 %

(2,806)

(22 %)

Reverse factoring

1,483

1 %

278

0 %

(1,205)

(81 %)

Other short-term liabilities

3,814

3 %

3,255

3 %

(559)

(15 %)

Total short-term liabilities

29,623

27 %

20,630

21 %

(8,993)

(30 %)

Long-Term Liabilities

Financial debt

51,566

46 %

50,042

51 %

(1,524)

(3 %)

Lease liabilities

1,550

1 %

1,007

1 %

(543)

(35 %)

Employee benefits

101

0 %

148

0 %

47 %

Deferred income tax

12,950

12 %

13,741

14 %

791

6 %

Total liabilities

95,790

86 %

85,568

87 %

(10,222)

(11 %)

EQUITY:

Capital stock

8,201

7 %

8,060

8 %

(141)

(2 %)

Retained earnings

(15,836)

(14 %)

(17,171)

(17 %)

(1,335)

(8 %)

Other comprehensive income

23,015

21 %

21,786

22 %

(1,229)

(5 %)

Total equity

15,380

14 %

12,675

13 %

(2,705)

(18 %)

Total liabilities and equity

1,11,170

100 %

98,243

100 %

(12,927)

(12 %)

TOTAL PLAY TELECOMUNICACIONES, S.A.P.I. DE C.V.

Consolidated Statements of Cash Flows

(Millions of Mexican pesos)

3M 25

3M 26

Operating activities:

Loss before income tax provision

(2,115)

(1,371)

Items not requiring the use of resources:

Depreciation and amortization

4,320

4,548

Employee benefits

Items related to investing or financing activities:

Accrued interest income

(56)

(30)

Accrued interest expense

1,770

1,581

Other financial transactions

1,122

(27)

Unrealized exchange (gain) loss

(89)

262

4,961

4,973

Resources (used in) generated by operating activities:

Customers and unearned revenue

315

134

Other receivables

–

Related parties, net

(104)

Taxes to be recovered

353

260

Inventories

292

400

Advance payments

(76)

(179)

Trade payables

(906)

(1,092)

Other payables

299

434

Cash flows generated by operating activities

5,291

4,828

Investing activities:

Acquisition of property, plant and equipment

(2,601)

(2,425)

Other assets

(234)

Collected interest

Cash flows used in investing activities

(2,779)

(2,319)

Financing activities:

Capital repayments

–

Loans (paid) received

4,312

(58)

Leasing cash flows

(822)

(449)

Restricted Cash in Trusts

(488)

(371)

Reverse factoring

(107)

(80)

Derivative financial instruments

265

–

Interest payment

(1,895)

(1,541)

Cash flows used in financing activities

1,265

(2,499)

Net increase in cash and cash equivalents

3,777

Cash and cash equivalents at the beginning of the year

3,355

4,332

Cash and cash equivalents at the end of the year

7,132

4,342

View original content:https://www.prnewswire.com/news-releases/total-play-announces-revenue-of-ps11-177-million-and-ebitda-of-ps4-849-million-in-the-first-quarter-of-2026–302752403.html

SOURCE Total Play Telecomunicaciones, S.A.P.I. de C.V.

Technology

QNAP Launches QSW-M7230-2X4F24T L3 Lite 100GbE Managed Switch, Featuring MC-LAG and AVoIP

Published

36 minutes ago

April 24, 2026

TAIPEI, April 23, 2026 /PRNewswire/ — QNAP® Systems, Inc., a leading computing, networking, and storage solution innovator, today announced the launch of the QSW-M7230-2X4F24T, a new L3 Lite managed 100GbE switch designed for enterprise network upgrades, high-performance storage environments, large-scale media production, virtualization, and AI-driven workloads. The new switch enables organizations to build a scalable 100GbE core network while maintaining cost efficiency and protecting existing infrastructure investments.

As data-intensive applications continue to accelerate—from AI computing and virtualization to collaborative media workflows—enterprises are increasingly challenged to evolve beyond 10GbE networks without incurring disruptive, large-scale replacements. The QSW-M7230-2X4F24T addresses this transition by providing a flexible, multi-speed architecture that allows enterprises to introduce higher-speed connectivity where it matters most, while expanding the core network over time.

Featuring 100GbE backbones, 25GbE server uplinks, and 24-port 10GbE access, the QSW-M7230-2X4F24T offers seamless multi-speed integration. It allows enterprises to deploy high-performance 25GbE/100GbE where needed while preserving existing 10GbE assets, effectively minimizing upgrade complexity and maximizing infrastructure value.

“By combining 100GbE, 25GbE, and high-density 10GbE connectivity in a 1U form factor, the QSW-M7230-2X4F24T delivers exceptional flexibility and cost efficiency among its class,” said Ronald Hsu, Product Manager at QNAP. “It is an ideal solution for enterprises seeking a practical path to 100GbE without compromising current investments or future scalability.”

Optimized for AI and high-performance storage, the QSW-M7230-2X4F24T offers 10G/25G/100G multi-speed links with a 1080Gbps capacity, supporting PFC and ECN for lossless Ethernet. It combines L3 Lite management (including static routing and advanced VLANs) with an MC-LAG architecture to provide enhanced network resilience and high availability, ensuring uninterrupted service and eliminating single points of failure for critical business infrastructure.

For media and AV over IP deployments, the switch further strengthens multicast control and time synchronization. With support for IGMP Snooping, VLAN-based traffic segmentation, and a high-precision clock with PTP Boundary Clock, the QSW-M7230-2X4F24T minimizes audio-video synchronization issues commonly encountered in multi-display environments. This makes it well suited for broadcast production, live event venues, command centers, and enterprise video applications.

In addition, the QSW-M7230-2X4F24T supports AMIZcloud, QNAP’s cloud-based centralized management platform. Without requiring additional hardware or software controllers, IT teams can remotely monitor and manage multiple switches across locations, simplifying troubleshooting and reducing ongoing operational overhead.

For more information and to view the full QNAP lineup, please visit www.qnap.com.

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SOURCE QNAP Systems, Inc.

Technology

SnapInspect Now Fully Qualified Yardi® Ecosystem Partner

Published

36 minutes ago

April 24, 2026

Interface is available now to SnapInspect clients using Yardi Voyager®

DALLAS, April 24, 2026 /PRNewswire/ — SnapInspect today announced it is now a fully qualified Yardi® Standard Interface Vendor, joining the approved network for Yardi, the leading provider of connected real estate software solutions. With this interface, companies using Yardi Voyager® can access their property management system data via the interface with SnapInspect.

With a focus on streamlining operations and increasing efficiency, Yardi Voyager and its single connected solution suite allow companies to manage operations, execute leasing, run analytics, and provide effective resident, owner and investor services. By interfacing with Yardi, vendors can provide Yardi clients with solutions that empower them within the Yardi ecosystem.

The Yardi ecosystem services the most vendors, APIs, units and square footage in the industry with more than 450 active interface partners in the Yardi network. Yardi’s goal is to make it easier for clients to choose best-for-you products that allow harmony across the many platforms they use. Yardi welcomes SnapInspect to the most robust platform ecosystem in the real estate industry.

“Commercial property teams have always had the data; they just haven’t always had it in one place. This integration closes the gap between inspections and maintenance operations, so every inspection finding flows directly into a work order, and everything is visible between profiles,” said new Yardi interface vendor, SnapInspect

For the complete list of the Yardi ecosystem, please visit: yardi.com/interface-vendors.

About Yardi

Yardi® develops industry-leading software for all types and sizes of real estate companies across the world. With over 10,000 employees, Yardi is working with our clients to drive significant innovation in the real estate industry. For more information on how Yardi is Energized for Tomorrow, visit yardi.com.

About SnapInspect

SnapInspect is a cloud-based property inspection software platform used by property managers, asset owners, and enterprise operators across the USA, Canada, and Dubai. The platform enables teams to conduct detailed property inspections, generate professional condition reports instantly, and track property maintenance analytics and asset condition data across entire portfolios. SnapInspect integrates natively with leading property management systems as a qualified interface vendor. Learn more at www.snapinspect.com

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View original content:https://www.prnewswire.co.uk/news-releases/snapinspect-now-fully-qualified-yardi-ecosystem-partner-302752418.html