Report: Matt Desch Confident in Iridium’s Broadband Services as LEO Satellites Increase

Iridium Communications (Nasdaq: IRDM) presented its Q1 2024 financial results, in which total revenue reacched $203.9 million, although slightly lower by 0.7 percent from a year ago. Notably, the voice and data satellite communications provider’s net income increased 101.1 percent year-over-year to $19.65 million, while the subscriber base grew 7 percent compared to Q1 2023, Iridium said

Iridium Communications (Nasdaq: IRDM) will deliver broadband and midband capabilities to the U.S. Space Force under a potential 10-year indefinite-delivery/indefinite-quantity contract. The multiple-award contract covers the provision of the Iridium Certus L-band terminals and service to support the U.S. military’s effort to proliferate satellite communication services in low Earth orbit, Iridium said Tuesday. Iridium Certus

The board of directors of Iridium Communications (Nasdaq: IRDM) has approved a plan to buy back another $400 million in shares through Dec. 31, 2025. Iridium said Thursday the plan marks its third and largest stock buyback authorization and increases the satellite communications company’s total repurchase program to $1 billion, the company said Thursday. The