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Iridium Communications Inc - IRDM STOCK NEWS

Welcome to our dedicated news page for Iridium Communications (Ticker: IRDM), a resource for investors and traders seeking the latest updates and insights on Iridium Communications.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Iridium Communications's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Iridium Communications's position in the market.

Rhea-AI Summary
Iridium Communications Inc. announces Cosco Shipping's installation of Iridium Global Maritime Distress and Safety System terminals on its vessels, enhancing safety and communication capabilities for the world's largest fleet. The partnership ensures reliable distress and safety communications for maritime transportation, benefiting the global economy.
Rhea-AI Impact
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End-of-Day
-1.52%
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Rhea-AI Summary
Iridium Communications Inc. (IRDM) acquires Satelles, Inc. to enhance global PNT solutions, targeting critical infrastructure. The acquisition of Satellite Time and Location (STL) aims to protect against GNSS vulnerabilities and improve timing systems for digital infrastructure. The $3.5 billion PNT services market is shifting towards small-form-factor devices. Iridium plans to expand STL adoption in autonomous systems, consumer devices, and traditional markets like aviation and maritime. The acquisition is expected to generate over $100 million in service revenue by 2030.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.35%
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acquisition
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Rhea-AI Summary
Iridium Communications Inc. (IRDM) partners with the Republic of Korea Ministry of Defense to enhance military operations using Iridium connectivity. Arion Communication Co. Ltd. supports the implementation by providing over 1,000 Iridium Connected™ SAT-PRE devices. The partnership aims to improve data tracking, communication, and operational efficiency for the ROK Army.
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-1.64%
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Rhea-AI Summary
Iridium Communications Inc. (IRDM) executives will participate in two upcoming investor conferences in March 2024. The Raymond James 45th Annual Institutional Investors Conference on March 4th and the Deutsche Bank 32nd Annual Media, Internet & Telecom Conference on March 12th. Both presentations will be webcast on Iridium's Investor Relations website for seven days.
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0.99%
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Rhea-AI Summary
Iridium Communications Inc. extends the estimate of useful life of satellites by five years, reporting strong financial results for Q4 and full-year 2023. The company achieved a net income of $38.0 million in Q4 2023, compared to a net loss in Q4 2022, with Operational EBITDA reaching $114.1 million, a 7% increase year-over-year. Total revenue for Q4 was $194.7 million, with service revenue contributing $148.0 million. Iridium ended the year with 2,279,000 total billable subscribers, a 14% increase from the previous year. Full-year 2023 saw net income of $15.4 million, a 10% increase in total revenue to $790.7 million, and OEBITDA of $463.1 million, up by 9% from the prior year.
Rhea-AI Impact
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End-of-Day
-13.04%
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Rhea-AI Summary
Iridium Communications Inc. will host a conference call on February 15, 2024, to discuss its fourth-quarter 2023 financial results. The earnings press release will be available on the investor relations page of the company's website. Participants can join the teleconference by dialing 1-412-902-6740. The call will also be webcast on the events page of the company's website. A replay of the webcast will be available for those unable to participate in the live call.
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0.74%
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earnings
Rhea-AI Summary
Iridium Communications Inc. (NASDAQ: IRDM) announces Project Stardust, introducing NB-IoT NTN standards into its LEO constellation. The company aims to offer both proprietary and standardized D2D and IoT services to its customers, collaborating with smartphone companies, OEMs, chipmakers, and mobile network operators. Iridium is designing its initial NB-IoT offering to support 5G NTN messaging and SOS capabilities for various consumer applications, providing a superior low-latency LEO user experience.
Rhea-AI Impact
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0.51%
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Rhea-AI Summary
Iridium Communications Inc. (NASDAQ: IRDM) has launched the Iridium Global Maritime Distress and Safety System Academy (GMDSS Academy), offering free curricula specific to GMDSS and related safety services. The Academy aims to ensure maritime students receive the required Iridium GMDSS safety instruction for working aboard SOLAS class vessels, providing a truly global, real-time maritime emergency service with its weather-resilient L-band spectrum. The training packs are available to anyone free-of-charge and can be easily integrated with existing coursework.
Rhea-AI Impact
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0.71%
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Rhea-AI Summary
Iridium Communications Inc. (NASDAQ: IRDM) announces the termination of its agreements with Qualcomm Technologies, Inc. regarding satellite messaging and emergency services in smartphones. Despite the technical success, smartphone manufacturers have not included the technology in their devices, leading to Qualcomm's decision to terminate the agreements. Iridium will now engage directly with smartphone OEMs, chipmakers, and developers for its existing and future service plans.
Rhea-AI Impact
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End-of-Day
-3.58%
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Rhea-AI Summary
Iridium Communications Inc. celebrates its 25th anniversary, highlighting its legacy of innovation and global satellite connectivity. The company has surpassed 2 million subscribers with a five-year compound annual growth rate (CAGR) of over 15.5%. Investors have been rewarded with a $1 billion share buyback program and quarterly dividends. Iridium remains committed to innovation and global connectivity.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.89%
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Iridium Communications Inc

Nasdaq:IRDM

IRDM Rankings

IRDM Stock Data

3.22B
120.46M
2.27%
84.59%
2.18%
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About IRDM

iridium communications inc. is the only mobile satellite service (mss) company offering pole-to-pole coverage over the entire globe. the iridium constellation of low-earth orbiting (leo), cross-linked satellites provides critical voice and data services for areas not served by terrestrial communication networks. iridium's subscriber growth has been driven by increasing demand for reliable, secure, global communications. iridium serves commercial markets through a worldwide network of hundreds of distributors, and provides services to the u.s. department of defense, and other u.s. and international government agencies. the company's worldwide customer base represent a broad spectrum of industry, including maritime, aeronautical, government/defense, public safety, utilities, oil/gas, mining, forestry, heavy equipment and transportation. iridium is in the planning and development phase for its next-generation satellite constellation, iridium next, which will begin launching and 2015 and r