This is particularly relevant to the recent demand we've seen in Ukraine. Further, Iridium enjoys a global reputation for service reliability. We also believe that our successful management of supply chain obstacles over the past year or so has allowed us to ship devices when others could not. We've continued to see momentum in our core handset business, in part due to ongoing demand and Ukraine's continued strong growth in Iridium Push-to-Talk services for global workgroups and governments and general acceptance by the market that our satellite phones and Iridium GO! smartphone hotspots are the gold standard for remote communications. I can't think of another satellite communications company that makes more connections to things from space than Iridium. In the second quarter, we added 95,000 net subscribers, which means over the last year we've grown our subscriber base by 16% to almost 1.9 million users. This has been driving hardware sales over the last 12 months and kept net subscriber additions near all-time highs in our commercial business. First, demand for Iridium equipment and services has never been stronger. Let me speak to each of these three areas. Iridium continues to occupy a unique lane even among satellite companies, and today that lane is characterized by its strong demand, growth opportunities, and some pronounced areas of upside, which I like to call accelerators.
While no business is recession-proof, we've grown nicely through past downturns in large part due to the diversity of our customer base and the industries that we serve. This is owed to the unique business Iridium is focused on, characterized by safety services and mission-critical applications, as well as the durability of our business model. Our business remains vibrant and resilient. We believe, we're positioned well to grow just as we have through past cycles, even if recent concerns of an economic downturn come to fruition. This underlying strength helps to shield us against changes in the global financial environment. We're seeing sustained strength from our partner channel and signing up new customers in purchasing equipment, which is the result of Iridium's strong competitive position and unique offerings. This momentum gives us the confidence to raise our top and bottom line guidance for the year. Both of you all saw the rating business outperformed nicely in the quarter recording record revenue and operational EBITDA. Matt Desch - Director and Chief Executive Officer
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