TYSONS CORNER, VA, August 22, 2018 — Iridium Communications (Nasdaq: IRDM) CEO Matt Desch has said in an earnings call the company plans to take a 10-year “capex holiday” after it completes the $3B Iridium NEXT satellite constellation this year, ExecutiveBiz reported Aug. 7.
Space News reported Aug. 6 that the news comes after Iridium posted $135M in quarterly revenue — or a record 21-percent increase from the same period last year — as it prepares to launch the last batch of Iridium NEXT satellites, after which the company aims to limit annual spending to $35M.
“Our network is very flexible, and our new satellites have been designed to support the growth and market opportunities we see in the future,” Desch, a four-time Wash100 awardee, told investors.
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