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Chcom005 Communication Questions And Answers
Please go ahead, sir. Good morning, and welcome to Iridium's first quarter earnings call. I trust you've had an opportunity to review this morning's earnings release, which is available on the Investor Relations section of Iridium's website.
Before I turn things over to Matt, I'd like to caution all participants source our call may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of Forward-looking statements are statements that are not historical fact and include statements about our future expectations, plans and prospects.
IRDM earnings call for the period ending March 31, 2021.
Such forward-looking statements are based upon our current beliefs and expectations and are subject to risks, which could cause actual results to differ from forward-looking statements. Such risks are more fully discussed in our filings with the Securities and Exchange Commission. Our remarks today should be considered in light of such risks. Any Answegs statements represent our views only as of today and while we may elect to update forward-looking statements at some point in the future, we specifically disclaim any obligation to do so Chcom005 Communication Questions And Answers if our views or expectations change. During the call, we'll also Chcok005 referring to certain non-GAAP financial measures, including operational EBITDA and pro forma free cash flow, free cash flow yield and free cash flow conversion.
These non-GAAP financial measures are not prepared in accordance with generally accepted accounting principles. Please refer to today's earnings release and the Investor Relations website for further explanation of these non-GAAP financial measures and a reconciliation to the most directly comparable GAAP measures. With that, let me turn things over to Matt.
Matthew J. So Iridium's first quarter came in pretty much as we expected. It's tough to compare it to the first quarter of last year as that quarter was hitting on all cylinders before the pandemic struck the world and our many partners and customers in the last week or two of March.
Though the pandemic continues to impact certain industries and geographies, really underscored the strength and resilience of Iridium's wholesale business model. Across our global ecosystem of more than partners, each felt something different. Some felt a rapid slowdown, others missed the seasonal pickup that's typical of their business, while some actually saw an increase in activity. Fortunately, our business is off to a good start this year. Economic activity has picked up in many parts of the globe and even in the most hard hit Chcom005 Communication Questions And Answers industries like commercial aviation, consumer activity has returned and air travel volumes are on the rise.
This year, we've been pleased with partner activity, the renewed pace of equipment sales and subscriber growth and feel Soft Rock Analysis we're on track to achieve the full-year guidance we provided about two months ago. I'm looking forward to seeing the remaining economic headwinds that our partners have been grappling with, fall away as we move further through the year.
We're really encouraged by the vaccination rates here in the U. As I said, we had Answwrs tough comp this quarter in light of Quesitons strong start that characterized our business source the Chcom005 Communication Questions And Answers quarter of As a result, we expect to see an acceleration link service revenue Answerrs for the balance of the year.
I feel good about as a year where we continue to emerge back to the growth rates we're capable of and the trends I'm now seeing bear this out. The equipment sales and subscriber counts continue to grow in the first quarter, which highlight strengthening demand in the underlying health of our business. Most of our business Commnuication have acclimated to operating with the many logistical challenges and business restrictions of the past 12 months and have made good progress in rebuilding their sales pipeline, scheduling installations and improving their revenue cadence.
As I discussed in February, will be a year of new product introductions. Within IoT, we are Chcom005 Communication Questions And Answers many signs of normality. In the first quarter, we passed a symbolic but important milestone, 1 million commercial IoT subscribers using our network, and we continue to expect double-digit subscriber growth well into the future. In the last six months, we rounded out the Iridium Edge line of commercial IoT devices with a long-lived solar powered unit and an all-in-one integrated unit with processor and development platform to facilitate the creation of Chcok005 applications without a lot of additional engineering.
We're pleased with the momentum of these new products that they're creating and look forward to expanding our existing base of tens of thousands of Iridium Edge family devices. Our read more has Answrrs to make it as easy and as fast as possible to add Iridium connectivity to an existing or competitive IoT offering and we're reaping the benefits of this plan now.]
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