📈 Price History

Ratio Health

— Excellent

— Good

— Average

— Poor

By Category

📊 Sector Averages

About

Iridium Communications Inc. provides mobile voice and data communications services and products to businesses, the United States and foreign governments, non-governmental organizations, and consumers in the United States, Canada, and internationally.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

See full financials →

📊 Quick Scorecard

Loading…

⭐ Superinvestors Holding IRDM

View All Superinvestors →

Manager	Shares	Value	% of Fund	Period
Cathie Wood ARK Investment Management	1.73M	$47.9M	0.37%	Mar 2026
Jim Simons Renaissance Technologies LLC	128.1K	$3.6M	0.01%	Mar 2026
Steve Cohen Point72 Asset Management	106.8K	$3.0M	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific ~ Volatile 4 quarters analysed

Q2 2025

Cautious

Management acknowledged a downward revision to service revenue guidance (3-5% vs prior 5-7%) citing maritime broadband conversion, USAID funding cuts, and PNT timing delays, yet reiterated long-term confidence in $1B service revenue target and continued buybacks/dividends.

Q3 2025

Mixed

Management acknowledges heightened competition from the EchoStar/Starlink deal and the need to adapt, but repeatedly expresses confidence in near‑term cash flows and defensible niches. Language shifts between caution ('we acknowledge more competition is coming', 'we have time to respond') and proactive confidence ('we will be proactive and pivot', 'we feel good about our options').

Q4 2025

Confident Specific

Management repeatedly used phrases like 'we achieved our 2025 guidance', 'business remains robust', 'we feel confident', and provided specific metrics (e.g., 'pro forma free cash flow almost $300 million', 'we grew OIBDA 5%'). They proactively outlined four growth themes with quantified revenue targets ($200M by 2030 from new products, $100M from PNT).

Q1 2026 latest

Confident Specific

Management repeatedly stated strong start to the year, reiterated full-year guidance with specific revenue and OIBDA ranges, and provided concrete milestones for new products (9604 in June, PNT ASIC in July). They used quantifiable language like 'total revenue grew 2%' and 'service revenue grew 2%'.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis remains largely unchanged after this call. Management reaffirmed guidance and highlighted concrete product launches that could drive subscriber and revenue growth in IoT and PNT. The tone was confident but lacked new quantitative details on the pace of customer adoption for key growth drivers like PNT. The Amazon/Globalstar deal was dismissed as not directly competitive, reinforcing Iridium's complementary positioning. However, the lack of clarity on spectrum monetization and the downplayed PNT order timing leaves some uncertainty. Next quarter, watch for commercial launch of the 9604 and PNT ASIC, as well as any further progress on government contracts or spectrum-related discussions.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific ~ Volatile 4 quarters Full tone analysis in Intelligence →

📊 MIXED Iridium reports 2% revenue growth, OIBDA $116.3M, reaffirms 2026 guidance.

Revenue & Profitability

Total revenue grew 2% year-over-year. OIBDA was $116.3 million, down 5% from the prior year, partly due to a shift to cash-based incentive compensation impacting $4.2 million in Q1. Commercial service revenue was $130.4 million (up 2%), equipment sales $20.2 million, and engineering and support revenue $40.8 million. Government service revenue rose modestly to $27.6 million. OIBDA guidance for full-year 2026 is $480-$490 million.

Outlook

Management sees increasing demand for mobile satellite services, especially for IoT, PNT, and national security. They highlight that GNSS disruptions are driving interest in assured PNT solutions. The industry is gaining attention from large players (e.g., Amazon buying Globalstar), but Iridium positions itself as complementary to broadband satellite services. The company expects continued growth in its four key growth vectors: IoT, PNT, national security, and aviation safety.

Growth Drivers

Key growth levers include: (1) IoT with the new Iridium 9604 tri-mode module (commercial June 2026) and NTN Direct standards-based service; (2) PNT with the upcoming ASIC (July 2026) and target of at least $100 million annual revenue by 2030; (3) national security missions with expanding U.S. government contracts and SDA work; (4) aviation safety with new Certus services and partner terminals. Commercial IoT revenue grew 5% year-over-year in Q1.

Balance Sheet & CapEx

Capital expenditures were $30 million in Q1 2026, and the company expects full-year CapEx to be consistent with $25 million to support Iridium NTN Direct development. Management noted they have flexibility to invest in growth opportunities or tack-on acquisitions. They are also exploring a next-generation constellation with potential 10x capacity increase, though not yet in development.

Margins

OIBDA margin declined due to a shift to cash-based incentive compensation, which will have a full-year impact of $17 million in 2026. Excluding this, OIBDA would have been $497-$507 million. SG&A in Q1 was elevated but expected to moderate to low double digits for the rest of the year. The company projects pro forma free cash flow of about $318 million in 2026 and expects to generate $1.5-$1.8 billion over the balance of the decade.

Key Risks

Risks flagged include potential cannibalization from NTN Direct on legacy IoT services, but management expects market expansion to outweigh. They also face ongoing ARPU pressures in commercial broadband as maritime customers move to lower-cost backup plans. Government contract negotiations (EMSS) could be delayed, with a six-month extension expected. Stock appreciation could increase SARS expenses. The company also highlighted supply chain and integration timelines for new products.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

🔍

🔎 See cross-company document search → ?

📞 Earnings Call Transcripts (5)

Q1 2026 Q1 2026 2026-04-23

Revenue and service revenue each grew 2% year-over-year in Q1 2026, with strong IoT and PNT momentum and new products set for mid-year launch. Full-year guidance is affirmed, and free cash flow and dividend growth remain priorities.

Q4 2025 Q4 2025 2026-02-12

2025 results met guidance with 3% service revenue growth and strong free cash flow, supporting investments and a rising dividend. 2026 outlook calls for flat to modest revenue growth, continued IoT expansion, and new product launches, with PNT and government contracts as key growth drivers.

Q3 2025 Q3 2025 2025-10-23

Q3 results showed strong OEBITDA and service revenue growth, with IoT and PNT segments expanding and government contracts stable. Strategic focus shifts to growth investments, M&A, and new technologies amid rising competition, while share buybacks are paused to enhance flexibility.

Q2 2025 Q2 2025 2025-07-24

Operational EBITDA rose 6% year-over-year, but 2025 service revenue growth guidance was lowered to 3–5% due to maritime and PNT timing. Long-term growth remains on track, with strong IoT, government, and new service investments supporting a $1B 2030 target.

Q1 2025 Q1 2025 2025-04-22

Service revenue and operational EBITDA grew in Q1 2025, led by IoT and PNT, with full-year guidance reaffirmed. Tariff impacts are being mitigated, and investments in NTN Direct and 5G are expected to drive future growth. Share buybacks and a dividend increase reflect strong cash flow and confidence.

📊 Analysis Methodology

This comprehensive investment analysis was conducted using The Finmagine™ Stock Analysis & Ranking Methodology, a proprietary framework that systematically evaluates stocks across five critical dimensions: Financial Health, Growth Prospects, Competitive Positioning, Management Quality, and Valuation.

🎯

Discover Our Proven Investment Framework Learn how we analyze and rank stocks using advanced quantitative models, multi-dimensional scoring systems, and dynamic discriminatory ranking techniques that have guided successful investment decisions across market cycles.

📊 Explore The Finmagine™ Methodology

A comprehensive, bias-free framework for analyzing and ranking stocks by Financial Strength, Growth Potential, Competitive Edge, Management Quality, and Value.

⚠️ Important Disclaimers — Please read without fail.

Investment Risk:
Investing in securities, including US equities and ETFs, involves inherent risks including the potential loss of principal. All investments are subject to market fluctuations, economic conditions, regulatory changes, and other factors that may affect their value. Past performance is not indicative of future results. This analysis is provided for informational and educational purposes only and should not be construed as investment advice under any circumstances.

No Investment Recommendation:
This analysis does not constitute, nor should it be interpreted as, an offer, solicitation, or recommendation to buy, sell, or hold any securities or financial products. Investors are strongly advised to conduct their own independent research and due diligence and to consult with a licensed financial advisor or an SEC-registered investment adviser before making any investment decisions, taking into account their individual financial situation, risk tolerance, and investment objectives.

Not SEC-Registered:
Finmagine is not registered as an investment adviser with the U.S. Securities and Exchange Commission (SEC) or any state securities authority. Nothing on this platform constitutes investment advice as defined under the Investment Advisers Act of 1940.

Conflict of Interest Disclosure:
The author and/or analyst may currently hold or have previously held positions in the securities discussed. Any such positions are not intended to influence the objectivity or independence of the analysis. This research is produced independently and is not sponsored, endorsed, or commissioned by any company or institution.

Information Sources:
The analysis is based on publicly available information including SEC filings (10-K, 10-Q), annual reports, management commentary, and publicly available financial data. Information is believed to be accurate as of the date of publication but may be subject to change without notice. Readers are encouraged to independently verify all information before acting upon it.

Forward-Looking Statements:
This analysis may contain forward-looking statements, forecasts, or projections that are inherently subject to risks, uncertainties, and assumptions. Actual results may differ materially from those expressed or implied. Finmagine does not undertake any obligation to update such statements in the future.

Limitation of Liability:
The content is provided "as is" without any warranties, express or implied. Finmagine expressly disclaims any liability for errors, omissions, or any losses incurred as a result of reliance on the information provided. Readers assume full responsibility for their investment decisions.