Iridium Communications Inc (IRDM)

Iridium to Acquire Aireon, Advancing its Strategy to Lead the Future of Aviation SafetyMay 14, 2026 7:01 AM
PR Newswire (US) The transaction unifies the world's only space-based air traffic surveillance system with the satellite network it was built on and extends commercial partnerships with NAV CANADA and NATS through 2035 and beyond.MCLEAN, Va., May 14, 2026 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of global voice, data, and positioning, navigation, and timing (PNT) satellite services, today announced that it has entered into a definitive agreement to acquire Aireon LLC, operator of the world's only space-based Automatic Dependent Surveillance-Broadcast (ADS-B) air traffic surveillance system. The acquisition of Aireon is a defining step in Iridium's strategy to provide the foundational architecture for global aviation safety, bringing space-based surveillance, safety communications, PNT, and operational data together on a single network. "Aireon has always been part of Iridium's aviation safety strategy. We founded it in partnership with the world's leading Air Navigation Service Providers (ANSPs), because we believed space-based aviation safety was a generational opportunity," said Matt Desch, CEO, Iridium. "The aviation industry is now entering an era of growing air traffic, denser airspace, autonomous aircraft, and greater expectations for safety and resiliency. Bringing Aireon fully inside Iridium better positions us to build what's needed to support the future of aviation, including more innovations like the future introduction of space-based VHF communications."A Combined Platform for Aviation Safety
The acquisition unites Aireon's surveillance and data services, including GPS jamming and spoofing detection, with Iridium's global satcom network and PNT services that help keep GPS-dependent systems working in contested environments. This combination creates one company providing four critical aviation industry capabilities: knowing where every aircraft is, communicating with the pilots flying them, providing the navigation and timing integrity those aircraft rely on, and translating that information into operational insights that make airspace safer and more efficient. No other satellite operator delivers this combination of capabilities on a global scale.Today, the Aireon system, which is certified by the European Union Aviation Safety Agency (EASA), flies as a payload on the Iridium satellite constellation and tracks an average of 190,000 flights per day. Commercial aircraft broadcast information such as an aircraft's identity, location, altitude, speed, and heading. Aireon's space-based ADS-B payload captures this information in real time, with 100% global coverage. ANSPs covering more than 50% of the global airspace rely on Aireon data to create safer and more efficient airspace.The world's leading ANSPs and investors in Aireon, including NAV CANADA and NATS (United Kingdom), AirNav Ireland, ENAV (Italy), and Naviair (Denmark), each played a vital role in launching the Aireon service, proving its reliability, and establishing it as a critical part of the global air traffic control infrastructure. NAV CANADA and NATS, which together manage the most heavily trafficked oceanic airspace in the world – the North Atlantic Tracks between Europe and North America, were the first to go live with the service. In connection with the acquisition, both ANSPs will sign extended data services agreements through 2035 and beyond, with provisions for continued cooperative development of space-based VHF communications and other new capabilities."Aireon and Iridium have been partners since day one, and that partnership is the reason we have been able to build the world's only space-based air traffic surveillance system and a fast-growing aviation data services business alongside it," said Don Thoma, CEO of Aireon. "Becoming part of Iridium is a natural next step for our team, our customers, and our roadmap, particularly as our data products expand into new areas like turbulence detection and aviation data analytics. Together, we are building the foundation for the future of global aviation.""NAV CANADA is proud of our foundational role in establishing Aireon's world-first technology," said Mark Cooper, President and CEO, NAV CANADA. "This sale sharpens our focus on our core expertise: keeping Canada's skies safe. As a fellow founding partner, Iridium is the ideal owner to guide Aireon's continued commercial growth. We wish the entire team continued success and look forward to our ongoing relationship as a customer.""We have been proud to be a part of Aireon's successes, most notably making real-time aircraft surveillance over the Atlantic a reality for the first time in history, enabling even safer operations across the North Atlantic," said Martin Rolfe, CEO, NATS. "As a shareholder for the past eight years, it is now the right time for us to divest. We are confident Aireon is well positioned for the future and wish the team every success in the next stage of its development."The Next Transition: Space-Based VHF
Space-based VHF communications represent a major opportunity in air traffic management, extending pilot-to-controller VHF services into oceanic and remote airspace where ground infrastructure cannot reach, without the need for additional aircraft equipment. The model is similar to how aircraft already carry ADS-B transceivers, which enables Aireon to deliver space-based ADS-B surveillance without requiring fleet retrofits.Aireon's Growing Data Services Business
Beyond surveillance for ANSPs, Aireon operates a fast-expanding aviation data services business that sells real-time and historical aviation data to airlines, airports, OEMs, governments, and aerospace operators. Product lines already available or launching this year include turbulence detection, GPS jamming and spoofing detection, and safety and efficiency analytics. Additional applications are also in development to support the rapidly evolving airspace environment.Aireon's data business is one of its highest-growth areas today and is expected to be a meaningful contributor to the combined company's aviation growth.Terms of the Transaction and Financial Insights
Iridium is an existing owner of Aireon and will acquire the remaining 61% of equity interests of Aireon in the transaction for a purchase price of approximately $366.7 million from the other owners, NAV CANADA, AirNav Ireland, ENAV, NATS and Naviair. The purchase price will be paid 50% at closing and 50% on the one-year anniversary. Iridium will also assume Aireon's outstanding debt, expected to be approximately $155 million at closing.The acquisition of Aireon is accretive to Iridium's growth outlook; over the past three years, Aireon's total revenue has grown at a compound annual growth rate (CAGR) of 10%. Iridium expects the acquisition will result in at least an additional consolidated $100 million of service revenue and $30 million of OEBITDA on an annualized basis.Iridium expects to pay the purchase price with current liquidity, including borrowings under its revolving credit facility, and future cash from operations. After closing the transaction, Iridium expects net leverage to increase to approximately 4.0 times OEBITDA during Q3 2026, with net leverage planned to return to the current levels over the subsequent twelve months. Iridium's long-term net leverage guide of 2.0 times OEBITDA by the end of the decade remains unchanged and assumes no change in its paused share buyback program.Aireon will continue business-as-usual operations in the near term, with no planned changes to business strategy. The transaction is targeted to close in early July.Evercore served as financial advisor and Cooley and Milbank served as legal counsel to Iridium. PJT Partners served as financial advisor and Hogan Lovells served as legal counsel to Aireon.Note for Media:
A briefing for reporters will be held today, at 9 a.m. EDT. Reporters interested in attending should email the designated contacts for this release to receive an access link.For more information about Iridium, visit: www.iridium.comFor more information about Aireon, visit: www.aireon.comNon-GAAP Financial Measures & DefinitionsIn addition to disclosing financial results that are determined in accordance with U.S. GAAP, Iridium reports OEBITDA, which is a non-GAAP financial measure, as a supplemental measure to help investors evaluate Iridium'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. Iridium 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, Iridium'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 Iridium's calculations thereof may not be comparable to similarly titled measures reported by other companies. Iridium 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. Iridium 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 Iridium's definite-lived intangible assets, or depreciation expense on Iridium's capital assets, which are necessary elements of Iridium's operations. Since OEBITDA does not account for these and other expenses, its utility as a measure of Iridium's operating performance has material limitations. Due to these limitations, Iridium'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. Iridium does not provide a forward-looking reconciliation of Aireon's expected contribution to OEBITDA 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.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, Virginia, Iridium provides its products and services through an ecosystem of 500-plus partner companies around the world. For more information, visit www.iridium.com.About Aireon LLCAireon has deployed a space-based air traffic surveillance system for Automatic Dependent Surveillance-Broadcast (ADS-B) equipped aircraft throughout the entire globe. Aireon is harnessing next-generation aviation surveillance technologies that were formerly ground-based and, for the first time ever, is extending their reach globally to significantly improve efficiency, enhance safety, reduce emissions, and provide cost savings benefits to all stakeholders. Space-based ADS-B surveillance covers oceanic, polar, and remote regions, and augments existing ground-based systems that are limited to terrestrial airspace. In partnership with leading ANSPs from around the world, like NAV CANADA, AirNav Ireland, ENAV, NATS and Naviair, as well as Iridium Communications, Aireon is providing a global, real-time, space-based air traffic surveillance system, available to all aviation stakeholders. For more information, please visit www.aireon.com.Forward-Looking Statements DisclosureStatements in this press release that are not purely historical facts may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Iridium has based these statements on its current expectations and the information currently available to it. Forward-looking statements include statements regarding, among other things, the closing and financing of the acquisition of Aireon, including the timing thereof; the future capabilities of, benefits of, availability of, and market demand for the Aireon system and Aireon's services; the benefits of Aireon's acquisition to Iridium, including its expected contribution to Iridium's revenue and OEBITDA, its ability to foster innovation at Iridium, and its future growth; and future indebtedness and net leverage. Forward-looking statements can be identified by words such as "anticipates," "may," "can," "believes," "expects," "plans," "projects," "targets," "positions," "will," "to be," "future," "forward," "roadmap," "wish,"  and similar expressions that predict or indicate future events, trends or prospects.These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements of Iridium to differ materially from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, but are not limited to, uncertainties regarding the timing and completion of the acquisition; the development, availability and market acceptance of Aireon system and services; and general industry and economic conditions, as well as competitive, legal, governmental and technological factors. Additional factors that could cause actual results to differ materially are described under the caption "Risk Factors" in Iridium'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 in 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 underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.Press Contact:  Investor Contact:Jordan Hassin Kenneth LevyIridium Communications Inc. Iridium Communications Inc.Jordan.Hassin@Iridium.com Ken.Levy@Iridium.com+1 (703) 287-7421 +1 (703) 287-7570 Photo - https://mma.prnewswire.com/media/2979846/Iridium_Aireon.jpg
Logo - https://mma.prnewswire.com/media/1394616/IRIDIUM_Logo.jpg View original content:https://www.prnewswire.co.uk/news-releases/iridium-to-acquire-aireon-advancing-its-strategy-to-lead-the-future-of-aviation-safety-302771709.html Original: Iridium to Acquire Aireon, Advancing its Strategy to Lead the Future of Aviation Safety

Iridium falls 5% after earnings miss outweighs slight revenue beatApril 23, 2026 10:20 AM
IH Market News
Iridium Communications Inc. (NASDAQ:IRDM) reported first-quarter results on Thursday that fell short of profit expectations, even as revenue edged past analyst forecasts, sending shares lower in premarket trading.The stock dropped 5.22% following the announcement.



Earnings disappoint despite modest revenue growth



The satellite communications company posted adjusted earnings per share of $0.20, missing the consensus estimate of $0.33.Revenue came in at $219.1 million, slightly above the $218.93 million expected and up 2% from $214.9 million in the same period last year. Service revenue, which accounts for 72% of total revenue, also rose 2% year-on-year to $158.0 million, supported by subscriber growth.



Profit and EBITDA decline



Net income fell to $21.6 million, or $0.20 per diluted share, compared with $30.4 million, or $0.27 per diluted share, a year earlier.Operational EBITDA decreased 5% to $116.3 million from $122.1 million, primarily due to a $4.2 million increase in accrued expenses linked to a shift toward fully cash-based annual incentive compensation.



Management highlights growth initiatives



“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. “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.”



Subscriber growth supports revenue



Total billable subscribers reached 2,555,000 at the end of the quarter, up 5% from 2,443,000 a year earlier, driven primarily by expansion in commercial IoT services.Commercial service revenue increased 2% to $130.4 million, while government service revenue rose 3% to $27.6 million.



Mixed performance across segments



Equipment revenue declined 13% to $20.2 million, while engineering and support revenue grew 9% to $40.8 million.



Outlook unchanged



Iridium reaffirmed its full-year 2026 guidance, expecting service revenue growth ranging from flat to 2% and operational EBITDA between $480 million and $490 million.The midpoint of $485 million reflects a $17 million impact from the revised compensation policy.Iridium Communications stock price

Original: Iridium falls 5% after earnings miss outweighs slight revenue beat

Iridium Announces First Quarter 2026 ResultsApril 23, 2026 7:01 AM
PR Newswire (US)

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 OperationsNet 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.SubscribersThe 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 HighlightsService – CommercialCommercial 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. GovernmentIridium'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.EquipmentEquipment 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 & SupportEngineering 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 AllocationCapital 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 OutlookThe 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 & DefinitionsIn 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
2025GAAP net income
$        21,594
$        30,412
$              114,372Interest expense, net
19,366
21,824
88,252Income tax expense
8,827
5,819
27,618Depreciation and amortization
53,741
51,667
210,207Share-based compensation
11,382
11,748
51,579Transaction related expenses(1)
699
—
479Loss on equity method investments
732
648
2,823Operational 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 InformationAs 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 StatementsStatements 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
2025Revenue



Service revenue



Commercial
$          130,404
$          127,542Government
27,625
26,750Total service revenue
158,029
154,292Subscriber equipment
20,219
23,121Engineering and support service
40,809
37,465Total revenue
219,057
214,878Operating expenses



Cost of services (exclusive of depreciation and amortization)
49,636
48,787Cost of subscriber equipment sales
13,014
12,867Research and development
6,174
5,417Selling, general and administrative
45,779
35,752Depreciation and amortization
53,741
51,667Total operating expenses
168,344
154,490Operating income
50,713
60,388Other 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
36,879Income tax expense
(8,827)
(5,819)Loss on equity method investments
(732)
(648)Net income
$            21,594
$            30,412Operational EBITDA
$          116,341
$          122,118 Iridium Communications Inc.



Summary Revenue and OEBITDA Highlights



(In thousands)










Three Months Ended March 31,


2026
2025
% ChangeRevenue




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 revenue130,404
127,542
2 %Government service revenue(5)27,625
26,750
3 %Total service revenue158,029
154,292
2 %Subscriber equipment20,219
23,121
-13 %Engineering and support(6)




Commercial1,344
1,638
-18 %Government 39,465
35,827
10 %Total engineering and support40,809
37,465
9 %Total revenue$     219,057
$    214,878
2 %Operational EBITDA




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
% ChangeBillable Subscribers (1) (2)




Commercial




Voice and data, IoT data and Broadband service




Voice and data399
409
-2 %IoT data2,019
1,885
7 %Broadband (3)16.1
16.3
-1 %Total commercial voice and data, IoT data and Broadband service2,434
2,310
5 %Government




Voice and data and IoT data service




Voice and data43
54
-20 %IoT data78
79
-1 %Total government voice and data and IoT data service121
133
-9 %Total billable subscribers2,555
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 data21
(2)

Broadband—
(0.3)

Total commercial voice and data, IoT data and Broadband service18
(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 additions18
(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 LevyJordan HassinIridium Communications Inc.Iridium Communications Inc.+1 (703) 287-7570+1 (703) 287-7421ken.levy@iridium.comjordan.hassin@iridium.com 



View original content to download multimedia:https://www.prnewswire.com/news-releases/iridium-announces-first-quarter-2026-results-302751025.htmlSOURCE Iridium Communications Inc.

Original: Iridium Announces First Quarter 2026 Results

Iridium Announces Release Date for First-Quarter 2026 Financial ResultsApril 2, 2026 7:01 AM
PR Newswire (US)

MCLEAN, Va., April 2, 2026 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice, data, and PNT satellite services, will host a conference call on Thursday, April 23, 2026 at 8:30 a.m. Eastern Time (ET) to discuss the Company's first-quarter 2026 financial results. In advance of the call on April 23, 2026, Iridium will issue its first-quarter 2026 earnings press release, which will be available on the investor relations page of the Company's website. To participate in the teleconference, callers can dial 1-412-902-6740 and ask for the Iridium Communications Inc. conference call. Please dial in five minutes prior to the scheduled start time to help ensure the conference call begins in a timely manner. The conference call will also be simultaneously webcast on the events page of the Company's website at https://investor.iridium.com/events.







For those unable to participate in the live call, a replay of the webcast will be available in the investor relations section of the Company's website approximately one hour following the conclusion of the call.About Iridium Communications Inc.Iridium® is the only mobile voice, data, and PNT satellite 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 2024, Iridium acquired Satelles, Inc. and its positioning, navigation, and timing (PNT) service. Iridium is headquartered in McLean, Va., 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.Investor Contact:Kenneth Levy
Iridium Communications Inc.
+1 (703) 287-7570
ken.levy@iridium.comPress Contact:Jordan Hassin
Iridium Communications Inc.
+1 (703) 287-7421
jordan.hassin@iridium.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/iridium-announces-release-date-for-first-quarter-2026-financial-results-302729210.htmlSOURCE Iridium Communications Inc.

Original: Iridium Announces Release Date for First-Quarter 2026 Financial Results

Iridium Launches Next Generation IoT PlatformFebruary 24, 2026 7:01 AM
PR Newswire (US)

 Smaller, purpose-built, and designed for scale, the new Iridium 9604 unifies satellite, cellular, and GNSS in a single platform engineered for global IoTMCLEAN, Va., Feb. 24, 2026 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of global voice, data, and positioning, navigation, and timing (PNT) satellite services, today unveiled the Iridium 9604, a compact, three-in-one IoT module that integrates Iridium Short Burst Data® (SBD®) satellite service, LTE-M cellular connectivity, and GNSS positioning into a single platform. By combining these features in one device, the Iridium 9604 reduces solution complexity, lowers costs, and accelerates time to market, making dual-mode IoT connectivity viable for price-sensitive, high-volume deployments.







"By integrating cellular, GNSS, and Iridium satellite into a single, power-efficient module, we're giving customers the flexibility to design and deploy lower cost, smaller, power-efficient, and location-aware solutions without the burden of integrating multiple components," said Tim Last, executive vice president, Iridium. "With our best-in-class proprietary satellite IoT service and upcoming standards-based NB-IoT service debuting this year, anyone thinking about IoT beyond terrestrial networks is thinking about Iridium first."The Iridium 9604 beta program, which launched earlier this year and was oversubscribed by a select group of companies, has generated positive industry feedback highlighting:Lower costs, simplified design, and enabling of location-aware network selectionSavings of 60 percent or more in board space with the 3-in-1 module, Iridium's smallest-ever form factorEasy to use developer resources"As an early Iridium 9604 developer, utilizing the three-in-one module has already fundamentally changed our product economics," said Alastair MacLeod, CEO, Ground Control. "We eliminated two components from our bill of materials, reduced our board size, and simplified our power architecture."MacLeod continued, "Additionally, having dual mode connectivity options enables a smarter, location-aware network selection in our application. The Iridium 9604 turned what would have been a complex multi-component design into a single-module solution. This is a major breakthrough for our IoT solutions.""Our customers require essential data and real-time intelligence to operate with confidence anywhere in the world," said Dean Welten, CEO, Everlink. "By integrating the Iridium 9604 with our secure cloud platform, we can now enable global connectivity, greater operational efficiency, and measurable impact at scale."Representing the next phase of Iridium's IoT strategy, the Iridium 9604 is moving the company beyond traditional satellite-only modules to a unified, multi-mode connectivity architecture. The Iridium network now offers customers three IoT service paths to follow:Iridium SBD packaged with cellular and GNSS in the Iridium 9604 or SBD/Iridium Burst dedicated modulesIridium NTN Direct for standards-based direct-to-device using third-party chipsIridium Messaging Transport-based (IMT®) for industrial-scale, larger payload capabilities with the Iridium Certus 9704The Iridium 9604, built on the u-blox SARA-R5 platform, delivers a compact 16 mm x 26 mm x 2.4 mm form factor, best for dual-mode IoT deployments previously cost-prohibitive across industrial, infrastructure, and mobility applications.Commercial availability begins in June 2026 with the Iridium 9604 Development Kit made available for testing satellite and cellular services. Reserve priority access today: www.iridium.com/9604For more information about Iridium, visit: www.iridium.comAbout 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, Virginia, 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 DisclosureStatements 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. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this press release include statements regarding the capabilities, benefits and availability of the Iridium 9604, expected demand by developers and the suitability of the Iridium 9604 for dual-mode IoT deployments across industrial, infrastructure, and mobility applications. 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 the timing of commercial availability of the Iridium 9604, the company's ability to maintain the health, capacity and content of its satellite constellation, as well as general industry and economic conditions, and competitive, 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 (the "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 vary materially from those expected, estimated or projected. Iridium's forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.Press Contact:     Investor Contact:Jordan Hassin     Kenneth LevyIridium Communications Inc.                                   Iridium Communications Inc.Jordan.Hassin@Iridium.com     Ken.Levy@Iridium.com+1 (703) 287-7421     +1 (703) 287-7570X: @Iridiumcomm
  










View original content to download multimedia:https://www.prnewswire.com/news-releases/iridium-launches-next-generation-iot-platform-302695071.htmlSOURCE Iridium Communications Inc.

Original: Iridium Launches Next Generation IoT Platform

Iridium to Participate in Investor ConferencesFebruary 17, 2026 2:50 PM
PR Newswire (US)

MCLEAN, Va., Feb. 17, 2026 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice, data, and PNT satellite services, today announced its participation in the following investor events:







Barclays Communications and Content Symposium
Date: Tuesday, February 24, 2026Raymond James 47th Annual Institutional Investors Conference
Date: Tuesday, March 3, 2026 (webcast session at 3:25 p.m. ET)Deutsche Bank 34th Annual Media, Internet & Telecom Conference
Date: Monday, March 9, 2026Webcast presentations and recordings, where applicable, can be accessed on the Investor Relations section of Iridium's website at http://investor.iridium.com/events.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, Virginia, Iridium provides its products and services through an ecosystem of 500-plus partner companies around the world. For more information, visit www.iridium.com.Investor Contact:                        Press Contact:

Kenneth Levy                                        Jordan HassinIridium Communications Inc.        Iridium Communications Inc.+1 (703) 287-7570                        +1 (703) 287-7421ken.levy@iridium.com      jordan.hassin@iridium.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/iridium-to-participate-in-investor-conferences-302689883.htmlSOURCE Iridium Communications Inc.

Original: Iridium to Participate in Investor Conferences

Iridium Announces 2025 Results; Issues 2026 OutlookFebruary 12, 2026 7:01 AM
PR Newswire (US)

MCLEAN, Va., Feb. 12, 2026 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium"), a leading provider of global voice, data, and PNT satellite services, today reported financial results for the fourth quarter and full-year 2025 and issued its full-year 2026 guidance.







Iridium reported fourth-quarter 2025 total revenue of $212.9 million, which consisted of $158.9 million of service revenue and $54.0 million of revenue related to equipment sales and engineering and support projects. Total revenue was in line with last year's comparable period, in part due to an increase in total service revenue, which largely offset revenue declines in subscriber equipment. Service revenue, which primarily represents recurring revenue from Iridium's growing subscriber base, was 75% of total revenue for the fourth quarter of 2025."We drove strong cash flow in both the fourth quarter and full year and remain focused on growth opportunities in specialized segments that further differentiate our offering from other satellite operators" said Matt Desch, CEO of Iridium. "Revenue growth of 5% in 2025 was driven by ongoing demand for IoT and a deeper integration of Iridium technology into mission-critical applications. Our expanding roster of business partners and new services continue to demonstrate the resiliency of our growth opportunities and underscore Iridium's unique role in the satellite industry."Income from OperationsNet income was $24.9 million, or $0.24 per diluted share, for the fourth quarter of 2025, as compared to net income of $36.3 million, or $0.32 per diluted share, for the fourth quarter of 2024. Operational EBITDA ("OEBITDA")(1) for the fourth quarter 2025 was $115.3 million, as compared to $117.1 million for the prior-year period, representing a year-over-year decrease of 2%.SubscribersThe Company ended the quarter with 2,537,000 total billable subscribers, which is up from 2,460,000 for the year-ago period and compares to 2,542,000 for the quarter ended September 30, 2025. Total billable subscribers grew 3% year-over-year, driven by growth in commercial IoT.Full-Year 2025 Iridium Business HighlightsThe Company reported total revenue in 2025 of $871.7 million, which was up 5% from the prior year period. Total revenue included $634.0 million of service revenue, $156.6 million of engineering and support services revenue and $81.1 million of equipment sales revenue.For full year 2025, Iridium reported net income of $114.4 million, compared to $112.8 million in 2024. Net income per diluted share increased 13% to $1.06, as compared to net income per diluted share of $0.94 in 2024, primarily as a result of a lower share count. Year-over-year net income was also impacted by the $19.8 million one-time gain on the acquisition of Satelles, Inc. in 2024.OEBITDA for 2025 was $495.3 million, a 5% increase from $470.6 million in the prior year. Capital expenditures were $100.3 million in 2025, including $4.6 million in capitalized interest.Fourth-Quarter Iridium Business HighlightsService – CommercialCommercial service remained the largest part of Iridium's business, representing 62% of the Company's total revenue during the fourth quarter. The Company's commercial customer base is diverse and includes markets such as maritime, aviation, oil and gas, mining, recreation, forestry, construction, transportation and emergency services. Iridium's products and services are critical to these customers' daily operations and integral to their communications and business infrastructure.Commercial service revenue was $131.2 million, up 3% from last year's comparable period due to increases in IoT data and voice and data service revenue.Commercial voice and data: Revenue was $59.6 million, up 4% from the year-ago period. Subscribers fell 3% from the year-ago period to 402,000. Average revenue per user ("ARPU") increased to $49 during the fourth quarter, compared to $45 in last year's comparable period, driven primarily by price actions in the third quarter of 2025.Commercial IoT data: Revenue was $46.1 million, up 11% from the year-ago period. Subscribers grew 6% from the year-ago period to 1,998,000. ARPU was $7.70 in the fourth quarter, compared to $7.29 in last year's comparable period.Commercial broadband: Revenue was $12.2 million, down 9% from $13.4 million in the year-ago period, as subscribers declined 3% from the year-ago period to 16,100. ARPU was $250 during the fourth quarter, compared to $268 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 $13.4 million, down 13% from $15.4 million in the year-ago period. The year-over-year change primarily reflects a delay in expected revenue from an existing customer, as previewed in the third quarter.Iridium's commercial business ended the quarter with 2,416,000 billable subscribers, which is up from 2,319,000 for the prior-year quarter and compares to 2,418,000 for the quarter ended September 30, 2025. IoT data subscribers represented 83% of billable commercial subscribers at the end of the quarter, an increase from 81% at the end of the prior-year period.Service – U.S. GovernmentIridium'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 fourth quarter, reflecting a contractual rate increase in the EMSS Contract over the prior year.Iridium's U.S. government business ended the quarter with 121,000 subscribers, which compares to 141,000 for the prior-year quarter and 124,000 for the quarter ended September 30, 2025. Government voice and data subscribers declined 31% as of December 31, 2025 to 43,000, which compares to 62,000 for the year-ago period. Government IoT data subscribers decreased 1% year-over-year and represented 64% of government subscribers at year-end.EquipmentEquipment revenue was $17.0 million in the fourth quarter, compared to $21.6 million in the prior-year quarter.Equipment revenue totaled $81.1 million in 2025, compared to $91.4 million in 2024. In 2026, the Company expects equipment sales to be in line with 2025.Engineering and SupportEngineering and support revenue was $37.1 million during the fourth quarter, compared to $37.4 million in the prior-year quarter.Engineering and support revenue totaled $156.6 million in 2025, compared to $124.4 million in 2024. In 2026, the Company expects engineering and support revenue to increase from 2025.Capital AllocationCapital expenditures were $33.5 million in the fourth quarter, including $1.4 million in capitalized interest. The Company ended the fourth quarter with gross debt under the Company's term loan of $1.8 billion and a cash and cash equivalents balance of $96.5 million, for a net debt balance of $1.7 billion. Iridium repaid all borrowings under its Revolving Facility in the fourth quarter and had no outstanding borrowings under the Revolving Facility as of December 31, 2025. The Company ended the year with net leverage of 3.4 times based upon 2025 OEBITDA.Iridium paid its fourth quarter dividend of $0.15 per common share on December 31, 2025. Total dividends paid to stockholders during 2025 totaled $62.9 million.During the year, Iridium repurchased approximately 6.8 million shares of common stock at a total purchase price of approximately $185.0 million. The Company did not repurchase any shares of common stock during the fourth quarter. As of December 31, 2025, $245.3 million remained available and authorized for repurchase under its share repurchase program through 2027.2026 and Longer-Term OutlookThe Company issued its full-year 2026 outlook and reaffirmed its long-term guidance on cash taxes and net leverage:Total service revenue growth projected to be flat to 2% for full-year 2026. Total service revenue for 2025 was $634.0 million.OEBITDA for 2025 was $495.3 million. In 2026, the Company determined to pay 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 & DefinitionsIn addition to disclosing financial results that are determined in accordance with U.S. GAAP, the Company reports Operational EBITDA, which is a non-GAAP financial measure, as a supplemental measure to help investors evaluate the Company's fundamental operational performance. Operational EBITDA 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 Operational EBITDA. Management believes such charges are incidental to, but not reflective of, the Company's day-to-day operating performance. Operational EBITDA 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 Operational EBITDA, and the Company's calculations thereof may not be comparable to similarly titled measures reported by other companies. The Company believes Operational EBITDA is a useful measure across time in evaluating its fundamental core operating performance. Management also uses Operational EBITDA to manage the business, including in preparing its annual operating budget, debt covenant compliance, financial projections and compensation plans. The Company believes that Operational EBITDA 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, Operational EBITDA 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 Operational EBITDA 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 Operational EBITDA 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 Operational EBITDA and Iridium's Investor Relations webpage at www.iridium.com for 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 Operational EBITDA 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 December 31,
Year Ended December 31,

2025
2024
2025
2024GAAP net income
$               24,865
$               36,341
$             114,372
$            112,776Interest expense, net
21,083
22,428
88,252
91,134Income tax (benefit) expense
7,989
(6,242)
27,618
12,259Depreciation and amortization
52,728
51,447
210,207
203,127Share-based compensation
7,587
12,431
51,579
63,457Transaction related expenses(1)
479
289
479
3,074(Gain) loss on equity method investments
581
413
2,823
(15,251)Operational EBITDA
$             115,312
$             117,107
$             495,330
$            470,576

(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 InformationAs previously announced, the Company will host a conference call to discuss its results at 8:30 a.m. Eastern Time on Thursday, February 12, 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, Virginia, 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 StatementsStatements 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 in specialized segments that leverage Iridium's unique network capabilities; customer acceptance of our products and services; expectations regarding industry and competition; expectations with respect to total service revenue, 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; expected revenue from the EMSS Contract with the U.S. government; and expectations regarding Iridium's expanding roster of business partners and new services. 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. Iridium Communications Inc.



Condensed Consolidated Statements of Operations



(In thousands)










Three Months Ended December 31,

2025
2024Revenue



Service revenue



Commercial
$              131,228
$              127,265Government
27,625
26,750Total service revenue
158,853
154,015Subscriber equipment
17,026
21,597Engineering and support service
37,061
37,379Total revenue
212,940
212,991Operating expenses



Cost of services (exclusive of depreciation and amortization)
44,425
48,379Cost of subscriber equipment sales
13,596
11,832Research and development
5,118
8,523Selling, general and administrative
41,824
40,695Depreciation and amortization
52,728
51,447Total operating expenses
157,691
160,876Operating income
55,249
52,115Other expense, net



Interest expense, net
(21,083)
(22,428)Other income (expense), net
(731)
825Total other expense, net
(21,814)
(21,603)Income before income taxes
33,435
30,512Income tax benefit (expense)
(7,989)
6,242Loss on equity method investments
(581)
(413)Net income
$                24,865
$                36,341Operational EBITDA
$              115,312
$              117,107 Iridium Communications Inc.



Condensed Consolidated Statements of Operations



(In thousands)










Year Ended December 31,

2025
2024Revenue



Service revenue



Commercial
$              525,923
$              508,618Government
108,035
106,296Total service revenue
633,958
614,914Subscriber equipment
81,109
91,416Engineering and support service
156,592
124,352Total revenue
871,659
830,682Operating expenses



Cost of services (exclusive of depreciation and amortization)
197,577
178,140Cost of subscriber equipment sales
50,426
52,427Research and development
19,758
28,422Selling, general and administrative
157,711
168,182Depreciation and amortization
210,207
203,127Total operating expenses
635,679
630,298Operating income
235,980
200,384Other expense, net



Interest expense, net
(88,252)
(91,134)Other income (expense), net
(2,915)
534Total other expense, net
(91,167)
(90,600)Income before income taxes
144,813
109,784Income tax expense
(27,618)
(12,259)Gain (loss) on equity method investments
(2,823)
15,251Net income
$              114,372
$              112,776Operational EBITDA
$              495,330
$              470,576 Iridium Communications Inc.









Summary Revenue and OEBITDA Highlights









(In thousands)






















Three Months Ended December 31,


Year Ended December 31,


2025
2024
% Change
2025
2024
% ChangeRevenue










Service revenue(1)










Commercial service revenue










Voice and data$          59,555
$          57,072
4 %
$  232,237
$  226,197
3 %IoT data(2)46,077
41,407
11 %
181,380
166,166
9 %Broadband(3)12,150
13,376
(9) %
50,720
56,095
(10) %Hosted payload and other data service(4)13,446
15,410
(13) %
61,586
60,160
2 %Total commercial service revenue131,228
127,265
3 %
525,923
508,618
3 %Government service revenue(5)27,625
26,750
3 %
108,035
106,296
2 %Total service revenue158,853
154,015
3 %
633,958
614,914
3 %Subscriber equipment17,026
21,597
(21) %
81,109
91,416
(11) %Engineering and support(6)










Commercial1,704
2,903
(41) %
7,597
7,307
4 %Government 35,358
34,476
3 %
148,995
117,045
27 %Total engineering and support37,062
37,379
(1) %
156,592
124,352
26 %Total revenue$        212,941
$        212,991
— %
$  871,659
$  830,682
5 %Operational EBITDA










Operational EBITDA$        115,312
$        117,107
(2) %
$  495,330
$  470,576
5 %Other










Capital expenditures(7)$          33,489
$          24,268


$  100,280
$    69,890

Net debt(8)$     1,678,220
$     1,714,219







Cash and cash equivalents$          96,501
$          93,526







Term Loan$     1,774,721
$     1,807,745







Deferred financing costs(14,194)
(16,860)







Term Loan, net$     1,760,527
$     1,790,885









(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 primarily include Iridium's PNT services.(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 amounts less cash, cash equivalents and marketable securities. Iridium Communications Inc.










Subscriber Highlights










(In thousands, except ARPU)























As of December 31,








2025
2024
% Change





Billable Subscribers (1) (2)










Commercial










Voice and data, IoT data and Broadband service










Voice and data402
415
(3) %





IoT data1,998
1,887
6 %





Broadband (3)16.1
16.6
(3) %





Total commercial voice and data, IoT data
and Broadband service2,416
2,319
4 %





Government










Voice and data and IoT data service










Voice and data43
62
(31) %





IoT data78
79
(1) %





Total government voice and data and IoT
data service121
141
(14) %





Total billable subscribers2,537
2,460
3 %


















Three Months Ended December 31,


Year Ended December 31,


2025
2024


2025
2024

Net Billable Subscriber Additions










Commercial










Voice and data. IoT data and Broadband service










Voice and data(9)
(7)


(13)
7

IoT data7
(15)


111
178

Broadband(0.2)
(0.1)


(0.5)
(0.1)

Total commercial voice and data, IoT data
and Broadband service(2)
(22)


97
185

Government










Voice and data and IoT data service










Voice and data(2)
(1)


(19)
—

IoT data(1)
1


(1)
(4)

Total government voice and data and IoT
data service(3)
—


(20)
(4)

Total net billable subscriber additions(5)
(22)


77
181














Three Months Ended December 31,


Year Ended December 31,


2025
2024
% Change
2025
2024
% Change ARPU (2) (4)










Commercial










Voice and data$                49
$                45
9 %
$          47
$          46
2 %IoT data$             7.70
$             7.29
6 %
$      7.78
$       7.70
1 %Broadband$              250
$              268
(7) %
$       259
$        282
(8) %

(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 HassinIridium Communications Inc. Iridium Communications Inc.+1 (703) 287-7570   +1 (703) 287-7421ken.levy@iridium.com jordan.hassin@iridium.com



View original content to download multimedia:https://www.prnewswire.com/news-releases/iridium-announces-2025-results-issues-2026-outlook-302685852.htmlSOURCE Iridium Communications Inc.

Original: Iridium Announces 2025 Results; Issues 2026 Outlook

IRDM, new 52 week low

Cathie Wood bought $37 million of Iridium Communications

https://www.msn.com/en-us/money/other/cathie-wood-buys-37-million-of-surging-tech-stock/ar-AA1zezfU?ocid=msedgdhp&cvid=b70f120552274268a1bec2bc3bfec188&ei=41

Wood bought Iridium Communications (IRDM) over four consecutive trading sessions this week.

From Feb. 11 to 14, Wood’s Ark Innovation ETF bought 1,173,688 shares of Iridium.

That purchase came as the stock rose more than 11% over the previous five days.

management threw away their opportunity with this company when they decided to buy back shares. Still losing money and they try to act like a big success with extra cash to buy back? Who does that benefit?

Good news on their utilization of the L-Band. It's surprising that they don't mention the Y/Y increase in their subscription base.

Year over year, looking pretty good here. More subscriptions and a huge 7 year US military contract worth millions.

Lots of debts extinguished and ready for some profitability coming up in 2020.

News: $IRDM Iridium Announces Second-Quarter 2019 Results; Reaffirms 2019 Outlook

MCLEAN, Va. , July 23, 2019 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM) ("Iridium") today reported financial results for the second quarter of 2019 and affirmed its full-year 2019 outlook.  Net loss was $18.1 million , or $0.16 per diluted share, for the second quar...

Find out more Iridium Announces Second-Quarter 2019 Results; Reaffirms 2019 Outlook

News: $IRDM Iridium Communications, Inc. to Host Earnings Call

NEW YORK, NY / ACCESSWIRE / July 23, 2019 / Iridium Communications, Inc. (NASDAQ: IRDM ) will be discussing their earnings results in their 2019 Second Quarter Earnings to be held on July 23, 2019 at 8:30 AM Eastern Time. To listen to the event live or access a replay of the call - visit ...

Find out more Iridium Communications, Inc. to Host Earnings Call

https://finance.yahoo.com/news/iridium-enhances-network-southern-hemisphere-120100619.html?.tsrc=rss This is one of the hottest stocks in the market today and for some strange reason it is one of the least talked about stocks. On any board, anywhere! GL

Dude. This is insane ..This stock could go to $100 easy

https://www.cnbc.com/2018/09/27/amazon-partners-with-iridium-for-aws-cloud-services-via-satellite.html

Satellite company partners with Bezos' AWS to bring internet connectivity to the 'whole planet'
Iridium is partnering with AWS to develop a satellite-based network called CloudConnect for Internet of Things (IoT) applications.
"Now that Amazon has put our language into the cloud platform, they can extend their applications to the satellite realm," Iridium CEO Matt Desch told CNBC.
The CloudConnect network will focus on "where cellular technologies aren't," Desch said.
Michael Sheetz | @thesheetztweetz
Published 2:18 PM ET Thu, 27 Sept 2018 Updated 9 Mins Ago
CNBC.com
A SpaceX Falcon 9 rocket lifts off carrying the NASA/German Research Centre for Geosciences GRACE Follow-On spacecraft from Space Launch Complex 4E at Vandenberg Air Force Base, California, U.S., May 22, 2018.
Bill Ingalls | Reuters
A SpaceX Falcon 9 rocket lifts off carrying the NASA/German Research Centre for Geosciences GRACE Follow-On spacecraft from Space Launch Complex 4E at Vandenberg Air Force Base, California, U.S., May 22, 2018.
Iridium Communications announced a partnership with Amazon Web Services this week, to develop a satellite-based network called CloudConnect for Internet of Things (IoT) applications.

"We're really covering the whole planet ... with terrestrial networks today it's still only 10 percent or 20 percent" of the Earth, Iridium CEO Matt Desch told CNBC on Thursday. "Everybody today can connect pretty easily with very little effort. Now that Amazon has put our language into the cloud platform, they can extend their applications to the satellite realm."

CloudConnect, which the company expects to launch in 2019, makes Iridium "the first, and only, satellite provider now connected to" Amazon Web Services, Desch said. The CloudConnect network will focus on "where cellular technologies aren't," Desch said, bringing the rest of the world within reach of AWS.

Amazon has been looking to hire people to work on "interconnecting space system networks," CNBC reported earlier this month. The company has never publicly discussed such a project.

Shares of Iridium rose 7.1 percent in trading, hitting an all-time high of $21.98 a share.

Iridium stock is up more than 80 percent this year


The company is nearly finished putting its Iridium NEXT constellation of 75 satellites into orbit. SpaceX is launching the $3 billion satellite network for Iridium, with the eighth and final launch happening later this year. Desch has called SpaceX "critical" to Iridium's commercial success, which is now the satellite company's sole launch provider.

Once online, Iridium NEXT will offer services such as higher broadband communications speeds and global airplane tracking. Iridium describes the IoT aspect of the network as a "catalyst for strong subscriber growth." Desch said the network hosts "about half a million" active devices, growing at a rate of about 20 percent per year for the last three years. With AWS onboard, Desch gave a very bullish estimates for his IoT services: "Easily this could expand to tens of millions of devices."

"We have the best bandwidth over anybody," Desch said. "Our network is super efficient at how it can manage these bytes of information."

Using the AWS, the most widespread cloud-computing service in the world, applications all speak the same "language," Desch said. It can take companies months or years to connect their applications into a new cloud suite, Desch explained, saying the IoT devices sometimes "talking in proprietary languages" or "they have to learn to talk from scratch." Add that to the 80 percent of the world where "it's still hard to connect things up" and one can see why CloudConnect will be optimized for connecting things very efficiently around the world," Desch said.

"We're talking things where a couple dollars can deliver really timely information in seconds from anywhere-to-anywhere in the planet," Desch said.

Desch expects CloudConnect to initially cater to large things like agricultural equipment or cargo ship in the open sea but said "it will move downwards into smaller and smaller vehicles, such as drones." Iridium is also looking at partnering with low-cost satellite companies like Myriota, Hiber and Fleet – as those will focus on a different range of IoT data.

"There are eight or 10 of these new networks that people want to develop with new satellites," Desch said. "We're more of the high end, when you've got to really get the data and it's got to be real time."

Don't forget this on Wednesday, June 13th.
http://investor.iridium.com/news-releases/news-release-details/iridium-present-william-blair-growth-stock-conference-0

This one is really on a tear,
Fletch

Hi folks.I am new here with a big interest in the future of satellite communications. Just purchased on the way up this morning. seems to have leveled out. SpaceX to launch 20 more in 2018.

Looking for a double here by eoy, at a minimum.

im here ahead of earnings 2morrow., bought a small pos

It could have been a contender......

So quiet- all I hear is crickets....I love so much about this company , at least the technical goal and the launch plan with tesla. A net of commumication and tracking all over the world. I see a potential $100 company - maybe much more. But only if they run it right. I HATE to see them scam the common shares and you can see that SOME Ones knew it - played it - and are beating it down and laughing all the way. I though Deutch was a straight-up guy and a good successful company was enough. i
I hate to see a great idea burn up from greed. cONVERT a MILLION shares when only half way through satellite deployment????? And it was a good idea, too....?? ??????

Launch from vandeberg scheduled for tonight. 10 more satellites with reused falcon 9. Will not attempt to land the falcon so dont think it is a failure. New falcons coming on line with greater reuse capability

Successful launch of reused rocket - IRDM launch is next and reuse works with the discounted cost.

Good earnings - good outlook - 52 week high this morning. IRDM is on the way to.....

they have a lot more investment to make before NEXT is fully implemented.

Why isn't the stock taking off? Pretty pathetic after a long time.

successful launch - soon to deploy 10 more satellites for Iridium NEXT

Launch of 10 more satellites scheduled for Monday morning at 5:37 PDT from Vandenberg.

what do you think potential is when all the satellites are up and running? Sat tracking of all commercial airliners? cell service anywhere, even if all local cell towers are destroyed? I wonder why IRDM didn't send sat phones to hurricane islands - tesla sent charging stations.

Buy the dips along the way to pay day 2019, demand coming

Launch of next 10 NEXT satellites was set for tomorrow, but now looks to be delayed until Monday 10/9. Don't expect a big uptick until they are all up and into operation but holding until it happens.

Read this - http://www.yippyinc.com/satellite-solutions

I think this company Yippy - YIPI may be more important than anyone can imagine to the future of satellite.

http://www.yippyinc.com/satellite-solutions

This is big league.

$IRDM..the largest tech refresh in space history.”....

https://blog.iridium.com/2017/06/25/iridium-and-spacex-a-partnership-launching-a-new-generation-of-space/

$IRDM per market 11.35 +0.60 (+5.58%) Iridium #Communications Inc.
#satellite

Thanks..$IRDM SpaceX Iridium NEXT satellite launch successful...
SpaceX lifted 10 Iridium NEXT satellites into orbit June 25 from Vandenberg Air Force Base in California with the company's Falcon 9 rocket, marking its second launch in three days.

https://www.yahoo.com/news/liftoff-spacex-nails-second-launch-210500945.html

Jan 2017
Iridium Next launch
http://www.spacex.com/news/2017/01/14/iridium-1-mission-photos

Successful spacex launch of iridium 2. Satellites deploy in 40 minutes.

$IRDM Sunday is target Launch..https://seekingalpha.com/symbol/IRDM?s=irdm

Three days to launch the NEXT 10 satellites.

$IRDM 11.45 +0.45 (+4.09%) Todays presentation replay link
Iridium Communications June 13, 2017

http://investor.iridium.com/events.cfm

$IRDM 11.24 #satellite launch target in two weeks aboard #SpacsX Falcon 9
https://www.iridium.com/network/iridiumnext #stocks

$IRDM Iridium presentation come up..http://investor.iridium.com/events.cfm
#communication #tranportation #satellite

$IRDM..JUNE 25, 2017 Target launch date Iridium NEXT...
https://www.fool.com/investing/2017/05/28/iridium-readies-for-second-round-satellite-launch.aspx?yptr=yahoo

$IRDM..TUES. JUNE 13,2017 webcast presentation 9:30 CT...
https://finance.yahoo.com/news/iridium-present-william-blair-growth-200100220.html

$IRDM..Trump lays out plan to privatize air traffic control system

https://finance.yahoo.com/news/trump-lays-plan-privatize-air-170900826.html

$IRDM Aireon LLC, a subsidiary of Iridium Communications....
#Stocks #airtrafficcontrol #Avation #Infrastructure

https://www.iridium.com/company/industryleadership/aireon

https://aireon.com/2017/04/26/federal-aviation-administration-aireon-announce-space-based-ads-b-nextgen-technology-flight-test-success/

https://aireon.com/2017/05/03/nav-canada-aireon-complete-successful-space-based-ads-b-flight-test/

Iridium Communications Inc.
https://www.iridium.com/network/iridiumnext
https://seekingalpha.com/symbol/IRDM/key-data

Aireon
In partnership with leading Air Navigation Service Providers (ANSPs) from around the world, like NAV CANADA, ENAV, the Irish Aviation Authority (IAA) and Naviair, as well as Iridium Communications, Aireon is set to revolutionize the global aviation industry. In 2018, Aireon will deploy a global satellite-based system capable of tracking and monitoring aircraft around the globe in real-time.

https://aireon.com/company/

How does Iridium NEXT plan to provide satellite tracking for aircraft? I think it will be the system that replaces radar tracking, but it won't be operating until next year.

$IRDM +0.275 (+2.74%) per market ?? Earning 4/27