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Key Takeaways Iridium is using strong free cash flow to invest in four growth areas while reducing net leverage.IRDM is advancing IoT, NTN Direct, PNT, aviation safety and government programs with new products.Iridium expects about $318M in 2026 pro forma free cash flow and $1.5B-$1.8B through the decade. Iridium Communications Inc. (IRDM - Free Report) continues to generate strong free cash flow, providing the financial flexibility to support its expansion strategy while maintaining a disciplined capital allocation approach. On the last earnings call, management highlighted that its cash generation allows it to reduce net leverage quickly while also preserving the flexibility to invest in business growth opportunities through product development or potential tuck-in acquisitions.

As of March 31, Iridium had cash and cash equivalents of $111.6 million and ended the quarter with net leverage of 3.4x OEBITDA. The company also remains committed to an active and growing dividend program, having paid a quarterly dividend of 15 cents per share, while expecting its board to continue increasing the dividend in line with prior years. Capital expenditures totaled $30 million in the first quarter, and the company expects full-year CapEx to remain consistent with 2025 levels as it continues investing in Iridium NTN Direct. Iridium projects pro forma free cash flow of about $318 million in 2026 and expects to generate between $1.5 billion and $1.8 billion in free cash flow over the remainder of the decade.

The company plans to utilize this financial strength to advance its four key growth areas while continuing to support its legacy business. In IoT, Iridium is preparing to launch its Iridium 9604 TriMode module, which combines satellite IoT, cellular IoT and GPS into a compact, cost-effective solution. The module is expected to simplify the product portfolio, lower integration costs and support expansion into cost-sensitive applications such as automotive, smart meters, agriculture and asset tracking. The company is also progressing toward the commercial launch of Iridium NTN Direct later this year, while continuing to expand agreements with mobile network operators and working with chip and module manufacturers to enable future standards-based connectivity.

Iridium is also investing in its Assured Positioning, Navigation and Timing (PNT) business, where the rollout of its new ASIC is generating strong interest from more than 100 companies. The company believes the new chip will accelerate deployments and continues to expect PNT to contribute at least $100 million in annual revenue by 2030.

Beyond PNT, Iridium is prioritizing national security missions through its growing work with the U.S. government and the Space Development Agency, while also expanding engineering and support activities. Aviation safety remains another strategic focus, with progress on new Certus aviation safety services and differentiated products intended to create additional opportunities. Management stated that partner activity remains strong, and the company plans to continue investing the cash it generates into these long-term growth initiatives while maintaining its focus on execution.

Taking a Look at IRDM’s CompetitorsAST SpaceMobile (ASTS - Free Report) is gaining from its leadership in direct-to-smartphone satellite connectivity, supported by proprietary phased array technology and thousands of patent claims. The company has built a sizable liquidity base to fund satellite manufacturing, ground infrastructure and launch activity through early commercialization. As of March 31, 2026, the company reported approximately $3.5 billion in cash, cash equivalents and restricted cash. The balance sheet also reflects additional convertible financing completed in early 2026, which management expects to support constellation deployment, technology investment and debt management initiatives. While the company is still operating at a loss, this funding reduces near-term refinancing risk and provides flexibility to sustain the planned deployment cadence as service activation progresses.

Globalstar, Inc. (GSAT - Free Report) is generating positive adjusted free cash flow. During the first quarter of 2026, the company reported adjusted free cash flow of $28.9 million compared with $47.6 million in the prior-year quarter. The decrease was primarily due to the timing of cash receipts under the Updated Services Agreements, as the company received $7.5 million in accelerated service fees during the first quarter of 2026 compared with $22.5 million a year ago. During the quarter, net cash provided by operating activities totaled $35.2 million, while capital expenditures were primarily associated with the deployment of replacement satellites and the Extended MSS Network.

IRDM Price Performance, Valuation and EstimatesShares of IRDM have gained 144.2% in the past six months against the Zacks Satellite and Communication industry’s decline of 13.8%.

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From a valuation standpoint, IRDM trades at a forward 12-month price-to-sales (P/S) of 5.39X, above the industry’s 2.8X.

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The Zacks Consensus Estimate for IRDM earnings for 2026 has been marginally revised upward over the past 60 days.

Image Source: Zacks Investment Research

Iridium currently carries a Zacks Rank #3 (Hold).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

, /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of global voice, data, and positioning, navigation, and timing (PNT) satellite services, announced today that it has completed its acquisition of Aireon LLC, operator of the world's only space-based Automatic Dependent Surveillance-Broadcast (ADS-B) air traffic surveillance system. 

Iridium has completed its acquisition of Aireon, a key step in its strategy to lead the future of aviation safety. "Iridium and Aireon are fully aligned in our mission to advance the future of aviation safety. What began as a bold vision more than a decade ago has become a foundational capability for global air traffic management, delivering real-time surveillance and operational intelligence on a truly global scale," said Iridium CEO, Matt Desch. "Together, we will continue investing in the technologies and innovations that we believe will make aviation safer, more efficient, and more resilient for decades to come."

The completion of the acquisition expands Iridium's role in the aviation ecosystem by combining Aireon's space-based air traffic surveillance and aviation intelligence services with Iridium's global satellite communications network and resilient PNT capabilities. Together, these assets create a comprehensive platform for delivering real-time visibility, trusted connectivity and actionable operational data to aviation stakeholders worldwide. As airspace grows more complex and increasingly dependent on resilient infrastructure, Iridium is positioned to provide the critical services that help improve safety, efficiency and operational decision-making on a global scale.

As part of Iridium, Aireon will continue operating as a wholly owned subsidiary focused on delivering industry-leading air traffic surveillance and aviation data services. Don Thoma will continue to serve as Aireon's Chief Executive Officer and will report to Iridium's Chief Executive Officer Matt Desch, ensuring both leadership continuity and close alignment with Iridium's broader strategy. 

For more information about Iridium, visit: www.iridium.com 

For more information about Aireon, visit: www.aireon.com 

About Iridium Communications Inc.
Iridium Communications Inc. (Nasdaq: IRDM) operates the world's only truly global mobile satellite network. It serves as a platform for innovation, enabling voice, data, and messaging, positioning, navigation, and timing (PNT), and aircraft surveillance services anywhere on Earth. Through its satellite constellation and integrated capabilities like Aireon, the world's only space-based air traffic surveillance system, Iridium delivers services that support safety-focused operations across aviation, maritime, government, industrial, and consumer markets. The company is a leader in satellite Internet of Things (IoT) connectivity and is advancing direct-to-device (D2D) communications based on open standards to expand access to satellite services.

Headquartered in McLean, Virginia, Iridium innovates through an ecosystem of more than 500 technology and distribution partners, serving millions of customers worldwide. For more information visit www.iridium.com.

Forward-Looking Statements Disclosure
Statements 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 it. Forward-looking statements in this press release include statements regarding the Company'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; continued investment in the technologies and innovations that the Company believes will make aviation safer, more efficient, and more resilient for decades to come; the future operations and management of Aireon; expected impacts of the acquisition of Aireon on the Company, and the timing thereof. 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, the Company's ability to realize the anticipated benefits of the Aireon acquisition, including expected synergies, on the expected timeline or at all, the risks that the integration of Aireon's business may be more difficult, time-consuming, or costly than expected, 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, except as required by law.

Press Contact:

Investor Contact:

Jordan Hassin

Kenneth Levy

Iridium Communications Inc.          

Iridium Communications Inc.

[email protected]

[email protected]

+1 (703) 287-7421

+1 (703) 287-7570

SOURCE Iridium Communications Inc.

Mlink chipsets expand the ecosystem for Iridium's standards-based NB-IoT and D2D connectivity 

, /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of global voice, data, and positioning, navigation, and timing (PNT) satellite services, today announced that Mlink Technology Inc. (Mlink), a leading fabless semiconductor company specializing in IoT and satellite communication chipsets, has begun live, on-air testing of its MS150-IR IoT-NTN chipset using Iridium NTN Direct℠. MS150-IR is a specialized version of the MS150 chipset family, developed specifically for Iridium NTN Direct as part of Mlink's global IoT-NTN product portfolio.

The Iridium Network Mlink joins a growing ecosystem of chipset providers supporting Iridium NTN Direct, Iridium's 3GPP standards-based non-terrestrial network (NTN) service. By integrating Iridium NTN Direct, Mlink's chipsets will help device manufacturers, module makers and mobile network operators (MNOs) extend low-power IoT connectivity beyond the reach of terrestrial networks through a single global satellite platform. The companies anticipate certification and product availability before the end of 2026.

"We're excited by Mlink's strong progress and the successful transition from lab testing to live on-orbit validation over the Iridium network," said Tim Last, Executive Vice President, Iridium. "This achievement demonstrates the technical maturity of both teams and the readiness of Iridium NTN Direct. We look forward to certification of the MS150-IR chipset later this year, giving our partners and customers additional high-quality, standards-compliant options for global NB-IoT and D2D connectivity."

"Having the opportunity to collaborate with Iridium in the emerging NTN field is a tremendous opportunity for Mlink," said Zhiping An, Co-Founder and Vice President, Mlink. "Our MS150-IR chipset platform has successfully completed Iridium's laboratory testing and has now progressed into the over-the-air (OTA) testing phase. We also have introduced a comprehensive reference design kit, enabling our customers to accelerate product development and commercialization. We look forward to leveraging Iridium NTN Direct to provide high-quality low Earth orbit (LEO) satellite communication services to customers around the world, enabling reliable and efficient global connectivity."

Iridium NTN Direct leverages Iridium's unique network of 66 cross-linked LEO satellites and 3GPP standards to deliver low-latency, reliable connectivity with excellent signal penetration on a truly global basis. The service is designed for IoT applications including asset tracking, logistics, utilities, agriculture, automotive, industrial monitoring and remote infrastructure, extending connectivity where terrestrial coverage is unavailable, limited or unreliable.

For chipset vendors, module manufacturers, OEMs, and MNOs, Iridium NTN Direct reduces the technical and commercial barriers to integrating satellite connectivity into existing products and networks without requiring additional terrestrial infrastructure. The service enables partners to expand coverage, improve resilience and support new connected-device applications using globally recognized standards.

Mlink's advancement adds to Iridium's expanding roster of chipset partners and reinforces growing momentum toward commercial availability of Iridium NTN Direct in 2026. Iridium NTN Direct is designed to deliver truly global, standards-based NB-IoT and D2D connectivity, enabling devices, sensors and assets to remain connected anywhere on Earth.

For more information on Iridium NTN Direct and how to join the ecosystem, visit: www.iridium.com/ntn-direct.

For more information about Iridium, visit: www.iridium.com

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 Mlink Technology Inc.
Mlink Technology Inc, founded in 2013, is a leading innovator in semiconductor solutions for satellite and cellular communications. Mlink has launched SatCom chipsets covering multiple standards such as IoT-NTN, NR-NTN, and GMR, as well as cellular communication chips for 5G RedCap and NB-IoT. Mlink's MS150 series IoT-NTN chipsets and MS340 series NR-NTN chipsets have successfully completed extensive LEO and GEO satellite testing across multiple countries and regions worldwide. Today, they are recognized as among the industry's most widely adopted NTN chipset platforms.

Headquartered in Beijing, the company has established research and development centers in Shanghai, Hefei, and Xiamen. For more information about Mlink, visit: www.mlink-tech.cn.

Forward-Looking Statements Disclosure
Statements 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 NTN Direct service. 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 NTN Direct service, the company's ability to maintain the health, capacity and content of its satellite constellation, 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 or revise any forward-looking statements.

Press Contact:     

Investor Contact:

Jordan Hassin     

Kenneth Levy

Iridium Communications Inc.                

Iridium Communications Inc.

[email protected]                                

[email protected]

+1 (703) 287-7421     

+1 (703) 287-7570

X: @Iridiumcomm

SOURCE Iridium Communications Inc.