NASDAQ Framework: Iridium Communications Inc

Global satellite voice and data communications 1.

Iridium Communications Inc. is a leading provider of mobile voice and data satellite communications services, utilizing a constellation of low earth-orbiting satellites to deliver reliable and global connectivity. The company serves a diverse range of markets including maritime, aviation, government/military, emergency services, mining, and transportation, offering solutions such as satellite phones, broadband terminals, and IoT devices. Headquartered in McLean, Virginia, Iridium is known for its robust network that covers 100% of the planet, enabling critical communications in even the most remote locations 2 3 4 5.

2: Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2019, the company completed a generational upgrade of its satellite network and launched its specialty broadband service, Iridium Certus. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com. View Source3: Iridium Communications Inc. provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services. It also provides hosted payload and other data services, such as satellite time and location services; and inbound connections from the public switched telephone network, short message, subscriber identity module, activation, customer reactivation, and other peripheral services. In addition, the company offers voice and data solutions comprising personnel tracking devices; asset tracking devices for equipment, vehicles, and aircrafts; beyond-line-of-sight aircraft communications applications; maritime communications applications; specialized communications solutions for high-value individuals; mobile communications and data devices for the military and other government agencies, such as secure satellite handsets, as well as netted voice, messaging, and paging services; and maintenance services for the United States government's dedicated gateway. Further, it provides satellite handsets, voice and data modems, broadband data devices, and IoT data devices; various accessories for its devices that include batteries, holsters, earbud headphones, portable auxiliary antennas, antenna adaptors, USB data cables, charging units, and others; and engineering and support services. Iridium Communications Inc. sells its products and services to commercial end users through a wholesale distribution network that include service providers, and value-added resellers and manufacturers. The company was formerly known as Iridium Holdings LLC and changed its name to Iridium Communications Inc. in September 2009. Iridium Communications Inc. is headquartered in McLean, Virginia. View Source4: Iridium Communications Inc offers voice and data communications services and products to businesses, U.S. and international government agencies, and other customers on a global basis. The company is a provider of mobile voice and data communications services through a constellation of low earth-orbiting satellites. Iridium's solutions are ideally suited for industries such as maritime, aviation, government/military, emergency/humanitarian services, mining, forestry, oil and gas, heavy equipment, transportation, and utilities. Iridium also provides service to subscribers from the U.S. Department of Defense, as well as other civil and government agencies around the world. The Company operates in one business segment, providing global satellite communications services and products. View Source5: Iridium’s unique constellation architecture makes it the only network that covers 100% of the planet. Satellites are cross-linked to provide reliable, low-latency, weather-resilient connections that enable communication anywhere in the world. View Source

UNKNOWN

The provided facts do not specify whether Iridium Communications Inc. is still led by its founders or if the founders are heavily involved in the company's current operations.

LOW RISK

Iridium Communications Inc. is currently profitable and has demonstrated strong financial performance. The company reported a net income of $38.0 million for the fourth quarter of 2023, a significant improvement from a net loss in the prior-year period 6. Additionally, Iridium has shown consistent revenue growth, with a record total revenue of $790.7 million for 2023, up 10% from the previous year 7. The company also maintains a strong cash flow, supporting substantial capital returns to shareholders, including dividend payments 8. Furthermore, Iridium has extended the estimated useful lives of its satellites, which positively impacts its financial outlook 9. These factors collectively indicate a stable and low-risk financial situation.

6: MCLEAN, Va., Feb. 15, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium") today reported financial results for the fourth quarter and full-year 2023 and issued its full-year 2024 guidance. Net income was $38.0 million, or $0.30 per diluted share, for the fourth quarter of 2023, as compared to net loss of $0.8 million, or $0.01 per diluted share, for the fourth quarter of 2022. Operational EBITDA ("OEBITDA")(1) for the fourth quarter was $114.1 million, as compared to $107.0 million for the prior-year period, representing a year-over-year increase of 7%. Net income benefitted from a year-over-year decrease in depreciation expense resulting from a change in the estimated useful lives of the Company's satellites, an increase in tax benefit and continued growth in total commercial services revenue. View Source7: For the full year, Iridium reported net income of $15.4 million, or $0.12 per diluted share, as compared to net income of $8.7 million, or $0.07 per diluted share, for 2022. The change primarily resulted from an increase in income tax benefit offset in part by an increase in interest expense related to the fees paid for the refinancing of our Term Loan and the increase in the Secured Overnight Financing Rate (SOFR), which is the benchmark interest rate of the Term Loan. The Company reported record total revenue in 2023 of $790.7 million, which was up 10% from the year-ago period. Total revenue included $584.5 million of service revenue and $206.2 million of revenue related to equipment sales and engineering and support services. OEBITDA for 2023 was $463.1 million, a 9% increase from $424.0 million in the prior year. Capital expenditures were $73.5 million for the full-year 2023. View Source8: "Iridium executed well in 2023, delivering another solid year of commercial services growth. Strength was broad based with subscriber growth across all commercial service lines," said Matt Desch, CEO, Iridium. Desch added, "Our strong cash flow supported ongoing return of more than $310 million of capital to shareholders, including dividend payments of about $65 million in 2023." View Source9: In the fourth quarter of 2023, Iridium conducted its annual evaluation of asset useful lives. The analysis considered the health of Iridium's constellation, satellite performance and the successful launch of five in-orbit spares in 2023. As a result of this assessment, the satellites' estimated useful lives have been extended by five years from 12.5 years to 17.5 years. The change will affect the timing of certain revenue and expense items. View Source

NO

The provided facts do not indicate that Iridium Communications Inc. is launching any new product offerings at this time.

Iridium Communications Inc. has outlined a strategic roadmap for 2024 through 2026 that focuses on expanding its global satellite communications services and enhancing its financial performance. The company aims to leverage its robust satellite network to drive growth in various sectors, including commercial IoT, engineering and support services, and government contracts. Key initiatives include the activation of the Iridium Satellite Time and Location Service for Europe and Asia Pacific regions to meet increasing international demand 10, and the continuation of significant contracts such as the five-year, $94 million agreement with Space Systems Command 11. Additionally, Iridium plans to maintain its strong cash flow to support shareholder returns through dividends and share buybacks, while strategically managing its leverage to ensure long-term financial stability 12. This comprehensive approach is designed to solidify Iridium's competitive positioning and sustain revenue growth across its diverse market segments 13.

10: Jul 23, 2024 Iridium Announces Second-Quarter 2024 Results Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, today reported financial results for the second quarter of 2024 and... Jul 10, 2024 Iridium Receives 2024 James S. Cogswell Outstanding Industrial Security Achievement Award Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced that for a second time, its Tempe, Arizona facility has received... Photos 1 Jul 2, 2024 Iridium Announces Release Date for Second-Quarter 2024 Financial Results Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, will host a conference call on Tuesday, July 23, 2024 at 8:30 a.m.... Jun 20, 2024 Iridium Satellite Time and Location Service Activated for Europe and Asia Pacific Regions Increased international demand from partners to accelerate market adoption worldwide MCLEAN, Va., June 20, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of... Photos 1 Jun 4, 2024 Iridium Awarded Five-Year, $94 Million Contract by Space Systems Command Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced it has been awarded a new five-year contract by the United States... Video 1 May 15, 2024 Watershed Moment for UAS: Iridium Connected Drones from American Aerospace Granted First FAA Waiver for BVLOS Commercial Operations Iridium partner American Aerospace received FAA approval for BVLOS drone operations on behalf of a recently announced oil and gas industry customer, based on proven Detect and Avoid aircraft right... Photos 1 Apr 18, 2024 Iridium Announces First-Quarter 2024 Results – Completes acquisition of Satelles, Inc., its first ever acquisition, on April 1 MCLEAN, Va., April 18, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium"), a leading... Apr 9, 2024 Iridium Signs Five-Year Contract with L3Harris to Protect FAA Critical Infrastructure Latest deployment of Iridium STL will provide a resilient timing sync service to data center facilities across the U.S. MCLEAN, Va., April 9, 2024 /PRNewswire/ -- Iridium Communications Inc.... Photos 1 Apr 2, 2024 Iridium Completes Satelles Acquisition; Introduces Iridium Satellite Time and Location (STL) Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced that it has completed its acquisition of Satelles, Inc. The... Mar 28, 2024 Iridium Announces Release Date for First-Quarter 2024 Financial Results Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, will host a conference call on Thursday, April 18, 2024 at 8:30 a.m.... View Source11: Jul 23, 2024 Iridium Announces Second-Quarter 2024 Results Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, today reported financial results for the second quarter of 2024 and... Jul 10, 2024 Iridium Receives 2024 James S. Cogswell Outstanding Industrial Security Achievement Award Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced that for a second time, its Tempe, Arizona facility has received... Photos 1 Jul 2, 2024 Iridium Announces Release Date for Second-Quarter 2024 Financial Results Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, will host a conference call on Tuesday, July 23, 2024 at 8:30 a.m.... Jun 20, 2024 Iridium Satellite Time and Location Service Activated for Europe and Asia Pacific Regions Increased international demand from partners to accelerate market adoption worldwide MCLEAN, Va., June 20, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of... Photos 1 Jun 4, 2024 Iridium Awarded Five-Year, $94 Million Contract by Space Systems Command Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced it has been awarded a new five-year contract by the United States... Video 1 May 15, 2024 Watershed Moment for UAS: Iridium Connected Drones from American Aerospace Granted First FAA Waiver for BVLOS Commercial Operations Iridium partner American Aerospace received FAA approval for BVLOS drone operations on behalf of a recently announced oil and gas industry customer, based on proven Detect and Avoid aircraft right... Photos 1 Apr 18, 2024 Iridium Announces First-Quarter 2024 Results – Completes acquisition of Satelles, Inc., its first ever acquisition, on April 1 MCLEAN, Va., April 18, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium"), a leading... Apr 9, 2024 Iridium Signs Five-Year Contract with L3Harris to Protect FAA Critical Infrastructure Latest deployment of Iridium STL will provide a resilient timing sync service to data center facilities across the U.S. MCLEAN, Va., April 9, 2024 /PRNewswire/ -- Iridium Communications Inc.... Photos 1 Apr 2, 2024 Iridium Completes Satelles Acquisition; Introduces Iridium Satellite Time and Location (STL) Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced that it has completed its acquisition of Satelles, Inc. The... Mar 28, 2024 Iridium Announces Release Date for First-Quarter 2024 Financial Results Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, will host a conference call on Thursday, April 18, 2024 at 8:30 a.m.... View Source12: Simon Flannery’s rating is based on a comprehensive review of Iridium Communications’ recent financial performance and strategic moves. Despite facing industry challenges, Iridium delivered a solid second-quarter performance with service revenue growing at a steady pace, which aligns with their annual projections. The company’s decision to increase leverage for the medium term to ramp up share buybacks is particularly noteworthy, as it demonstrates a commitment to enhancing shareholder value. Furthermore, the proactive approach to managing leverage, with a target to reduce it significantly by the end of the decade, indicates a strategic financial roadmap that supports a Buy rating. View Source13: The report also highlights that Iridium modestly exceeded overall revenue expectations, driven by strong results in Engineering & Support Services and the Internet of Things (IoT) divisions. This outperformance, coupled with the solid increase in commercial IoT subscribers, reflects the company’s robust competitive positioning and the potential for sustained revenue growth. Additionally, the signed two-year contract with a major customer is expected to further bolster IoT revenues in the full year of 2024. All these elements contribute to Flannery’s confidence in Iridium’s prospects, justifying the Buy rating for the stock. View Source

Sources

1: Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2019, the company completed a generational upgrade of its satellite network and launched its specialty broadband service, Iridium Certus. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com. View Source2: Iridium® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2019, the company completed a generational upgrade of its satellite network and launched its specialty broadband service, Iridium Certus. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services and partner solutions, visit www.iridium.com. View Source3: Iridium Communications Inc. provides mobile voice and data communications services and products to businesses, the United States and international governments, non-governmental organizations, and consumers worldwide. The company offers postpaid mobile voice and data satellite communications; prepaid mobile voice satellite communications; push-to-talk; broadband data; and Internet of Things (IoT) services. It also provides hosted payload and other data services, such as satellite time and location services; and inbound connections from the public switched telephone network, short message, subscriber identity module, activation, customer reactivation, and other peripheral services. In addition, the company offers voice and data solutions comprising personnel tracking devices; asset tracking devices for equipment, vehicles, and aircrafts; beyond-line-of-sight aircraft communications applications; maritime communications applications; specialized communications solutions for high-value individuals; mobile communications and data devices for the military and other government agencies, such as secure satellite handsets, as well as netted voice, messaging, and paging services; and maintenance services for the United States government's dedicated gateway. Further, it provides satellite handsets, voice and data modems, broadband data devices, and IoT data devices; various accessories for its devices that include batteries, holsters, earbud headphones, portable auxiliary antennas, antenna adaptors, USB data cables, charging units, and others; and engineering and support services. Iridium Communications Inc. sells its products and services to commercial end users through a wholesale distribution network that include service providers, and value-added resellers and manufacturers. The company was formerly known as Iridium Holdings LLC and changed its name to Iridium Communications Inc. in September 2009. Iridium Communications Inc. is headquartered in McLean, Virginia. View Source4: Iridium Communications Inc offers voice and data communications services and products to businesses, U.S. and international government agencies, and other customers on a global basis. The company is a provider of mobile voice and data communications services through a constellation of low earth-orbiting satellites. Iridium's solutions are ideally suited for industries such as maritime, aviation, government/military, emergency/humanitarian services, mining, forestry, oil and gas, heavy equipment, transportation, and utilities. Iridium also provides service to subscribers from the U.S. Department of Defense, as well as other civil and government agencies around the world. The Company operates in one business segment, providing global satellite communications services and products. View Source5: Iridium’s unique constellation architecture makes it the only network that covers 100% of the planet. Satellites are cross-linked to provide reliable, low-latency, weather-resilient connections that enable communication anywhere in the world. View Source6: MCLEAN, Va., Feb. 15, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium") today reported financial results for the fourth quarter and full-year 2023 and issued its full-year 2024 guidance. Net income was $38.0 million, or $0.30 per diluted share, for the fourth quarter of 2023, as compared to net loss of $0.8 million, or $0.01 per diluted share, for the fourth quarter of 2022. Operational EBITDA ("OEBITDA")(1) for the fourth quarter was $114.1 million, as compared to $107.0 million for the prior-year period, representing a year-over-year increase of 7%. Net income benefitted from a year-over-year decrease in depreciation expense resulting from a change in the estimated useful lives of the Company's satellites, an increase in tax benefit and continued growth in total commercial services revenue. View Source7: For the full year, Iridium reported net income of $15.4 million, or $0.12 per diluted share, as compared to net income of $8.7 million, or $0.07 per diluted share, for 2022. The change primarily resulted from an increase in income tax benefit offset in part by an increase in interest expense related to the fees paid for the refinancing of our Term Loan and the increase in the Secured Overnight Financing Rate (SOFR), which is the benchmark interest rate of the Term Loan. The Company reported record total revenue in 2023 of $790.7 million, which was up 10% from the year-ago period. Total revenue included $584.5 million of service revenue and $206.2 million of revenue related to equipment sales and engineering and support services. OEBITDA for 2023 was $463.1 million, a 9% increase from $424.0 million in the prior year. Capital expenditures were $73.5 million for the full-year 2023. View Source8: "Iridium executed well in 2023, delivering another solid year of commercial services growth. Strength was broad based with subscriber growth across all commercial service lines," said Matt Desch, CEO, Iridium. Desch added, "Our strong cash flow supported ongoing return of more than $310 million of capital to shareholders, including dividend payments of about $65 million in 2023." View Source9: In the fourth quarter of 2023, Iridium conducted its annual evaluation of asset useful lives. The analysis considered the health of Iridium's constellation, satellite performance and the successful launch of five in-orbit spares in 2023. As a result of this assessment, the satellites' estimated useful lives have been extended by five years from 12.5 years to 17.5 years. The change will affect the timing of certain revenue and expense items. View Source10: Jul 23, 2024 Iridium Announces Second-Quarter 2024 Results Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, today reported financial results for the second quarter of 2024 and... Jul 10, 2024 Iridium Receives 2024 James S. Cogswell Outstanding Industrial Security Achievement Award Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced that for a second time, its Tempe, Arizona facility has received... Photos 1 Jul 2, 2024 Iridium Announces Release Date for Second-Quarter 2024 Financial Results Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, will host a conference call on Tuesday, July 23, 2024 at 8:30 a.m.... Jun 20, 2024 Iridium Satellite Time and Location Service Activated for Europe and Asia Pacific Regions Increased international demand from partners to accelerate market adoption worldwide MCLEAN, Va., June 20, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of... Photos 1 Jun 4, 2024 Iridium Awarded Five-Year, $94 Million Contract by Space Systems Command Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced it has been awarded a new five-year contract by the United States... Video 1 May 15, 2024 Watershed Moment for UAS: Iridium Connected Drones from American Aerospace Granted First FAA Waiver for BVLOS Commercial Operations Iridium partner American Aerospace received FAA approval for BVLOS drone operations on behalf of a recently announced oil and gas industry customer, based on proven Detect and Avoid aircraft right... Photos 1 Apr 18, 2024 Iridium Announces First-Quarter 2024 Results – Completes acquisition of Satelles, Inc., its first ever acquisition, on April 1 MCLEAN, Va., April 18, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium"), a leading... Apr 9, 2024 Iridium Signs Five-Year Contract with L3Harris to Protect FAA Critical Infrastructure Latest deployment of Iridium STL will provide a resilient timing sync service to data center facilities across the U.S. MCLEAN, Va., April 9, 2024 /PRNewswire/ -- Iridium Communications Inc.... Photos 1 Apr 2, 2024 Iridium Completes Satelles Acquisition; Introduces Iridium Satellite Time and Location (STL) Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced that it has completed its acquisition of Satelles, Inc. The... Mar 28, 2024 Iridium Announces Release Date for First-Quarter 2024 Financial Results Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, will host a conference call on Thursday, April 18, 2024 at 8:30 a.m.... View Source11: Jul 23, 2024 Iridium Announces Second-Quarter 2024 Results Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, today reported financial results for the second quarter of 2024 and... Jul 10, 2024 Iridium Receives 2024 James S. Cogswell Outstanding Industrial Security Achievement Award Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced that for a second time, its Tempe, Arizona facility has received... Photos 1 Jul 2, 2024 Iridium Announces Release Date for Second-Quarter 2024 Financial Results Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, will host a conference call on Tuesday, July 23, 2024 at 8:30 a.m.... Jun 20, 2024 Iridium Satellite Time and Location Service Activated for Europe and Asia Pacific Regions Increased international demand from partners to accelerate market adoption worldwide MCLEAN, Va., June 20, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of... Photos 1 Jun 4, 2024 Iridium Awarded Five-Year, $94 Million Contract by Space Systems Command Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced it has been awarded a new five-year contract by the United States... Video 1 May 15, 2024 Watershed Moment for UAS: Iridium Connected Drones from American Aerospace Granted First FAA Waiver for BVLOS Commercial Operations Iridium partner American Aerospace received FAA approval for BVLOS drone operations on behalf of a recently announced oil and gas industry customer, based on proven Detect and Avoid aircraft right... Photos 1 Apr 18, 2024 Iridium Announces First-Quarter 2024 Results – Completes acquisition of Satelles, Inc., its first ever acquisition, on April 1 MCLEAN, Va., April 18, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq:IRDM) ("Iridium"), a leading... Apr 9, 2024 Iridium Signs Five-Year Contract with L3Harris to Protect FAA Critical Infrastructure Latest deployment of Iridium STL will provide a resilient timing sync service to data center facilities across the U.S. MCLEAN, Va., April 9, 2024 /PRNewswire/ -- Iridium Communications Inc.... Photos 1 Apr 2, 2024 Iridium Completes Satelles Acquisition; Introduces Iridium Satellite Time and Location (STL) Iridium Communications Inc. (NASDAQ: IRDM), a leading provider of global voice and data satellite communications, today announced that it has completed its acquisition of Satelles, Inc. The... Mar 28, 2024 Iridium Announces Release Date for First-Quarter 2024 Financial Results Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice and data satellite communications, will host a conference call on Thursday, April 18, 2024 at 8:30 a.m.... View Source12: Simon Flannery’s rating is based on a comprehensive review of Iridium Communications’ recent financial performance and strategic moves. Despite facing industry challenges, Iridium delivered a solid second-quarter performance with service revenue growing at a steady pace, which aligns with their annual projections. The company’s decision to increase leverage for the medium term to ramp up share buybacks is particularly noteworthy, as it demonstrates a commitment to enhancing shareholder value. Furthermore, the proactive approach to managing leverage, with a target to reduce it significantly by the end of the decade, indicates a strategic financial roadmap that supports a Buy rating. View Source13: The report also highlights that Iridium modestly exceeded overall revenue expectations, driven by strong results in Engineering & Support Services and the Internet of Things (IoT) divisions. This outperformance, coupled with the solid increase in commercial IoT subscribers, reflects the company’s robust competitive positioning and the potential for sustained revenue growth. Additionally, the signed two-year contract with a major customer is expected to further bolster IoT revenues in the full year of 2024. All these elements contribute to Flannery’s confidence in Iridium’s prospects, justifying the Buy rating for the stock. View Source