Dernières nouvelles pour Iridium Comms (NASDAQ:IRDM) Stock

Iridium Comms

Iridium Communications Inc offers voice and data communications services and products to businesses, U.S. and international government agencies, and other customers on a global basis. The company is a provider of mobile voice and data communications services through a constellation of low earth-orbiting satellites. Iridium's solutions are ideally suited for industries such as maritime, aviation, government/military, emergency/humanitarian services, mining, forestry, oil and gas, heavy equipment, transportation, and utilities. Iridium also provides service to subscribers from the U.S. Department of Defense, as well as other civil and government agencies around the world. The Company operates in one business segment, providing global satellite communications services and products.

Iridium Communications Inc - Common Stock

Iridium Communications Inc

Iridium Communications (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/irdm#NASDAQ">IRDM</a>) is slated to release third-quarter 2024 earnings on Oct. 17, before market open.
The Zacks Consensus estimate for revenues is pegged at $205.7 million, indicating an increase of 4.1% from the year-ago level. The consensus estimate for earnings per share is pegged at 20 cents, unchanged in the past 60 days. In the year-ago quarter, the company reported a loss of 1 cent.
IRDM&#39;s earnings beat the Zacks Consensus Estimate in two of the trailing four quarters, missed once and matched the same in the remaining quarter with the average surprise being 202.2%. In the past year, shares have lost 31.2% against sub-industry&#39;s gain of 1.3%.
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<h2>Factors to Focus on Ahead of IRDM&#39;s Q3 Earnings</h2>
Iridium&#39;s third-quarter performance is likely to have gained momentum in the Service segment&#39;s revenues and increasing subscriber base. Our estimate for segmental revenues is pegged at $155.5 million, implying a jump of 2.3% from a year-ago reported figure.
Strengthening commercial service revenues is a key catalyst. Commercial service revenues are likely to have been aided by strength in voice and data, IoT data, broadband, hosted payload and other data service business lines. We estimate commercial service revenues to be $129 million, indicating a 2.8% climb from the prior-year actual.
Revenues from voice and data are gaining from higher demand for Iridium&#39;s push-to-talk services. Commercial IoT revenues are likely to have benefited from steady demand for personal satellite communications and traditional industrial services.
Hosted payload and other data service segment is also expected to have benefited from the new Iridium Satellite Time and Location&nbsp;offering.
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<h3>Iridium Communications Inc Price and EPS Surprise</h3>
<img alt="Iridium Communications Inc Price and EPS Surprise" src="https://staticx-tuner.zacks.com/images/charts/23/1728907949.png" style="height:263px; width:538px" title="" />
Iridium Communications Inc price-eps-surprise | Iridium Communications Inc Quote
Higher Engineering and Support revenues (due to a rise in activity with the U.S. government, especially the ongoing work on the Space Development Agency contract) bode well. IRDM expects revenues from the EMSS contract with the U.S. government to increase in the second half of 2024 with a &quot;contractual step-up&quot; in mid-September. Our estimate for quarterly revenues from the Engineering and Support segment is pegged at $27.3 million, which is up 8.1% from the year-earlier level.
Management expects Subscriber Equipment revenues to return to more normalized levels as increased demand, owing to supply-chain constraints and customer inventory buildup, stabilizes. Our estimate for quarterly revenues from the Subscriber Equipment segment is pegged at $21.2 million, indicating a 4% increase from a year ago.
Global macroeconomic weakness and inflation remain concerning. Increasing competition in the satellite communications space and higher selling, general and administrative costs and research and development expenses are other headwinds.
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<h2>Key Recent Developments</h2>
On Sept. 25, 2024, Iridium announced that the 3rd Generation Partnership Project (3GPP) approved its offer to broaden the capability of Narrowband Internet of Things (NB-IoT) for Non-Terrestrial Networks into the official Work Plan for 3GPP Release 19 (set to conclude in the fourth quarter of 2025). This initiative expands the company&#39;s reach in global connectivity through its latest service, Iridium NTN Direct, which is expected to be the world&#39;s first global 5G NB-IoT service.
On Sept. 19, 2024, Iridium announced its fourth stock repurchase authorization in four years. The $500 million authorization, approved by its board of directors, is the largest in the company&#39;s history. It extends the total buyback authorization to $1.5 billion through Dec. 31, 2027.
On Sept. 3, 2024, the company introduced Iridium Certus GMDSS, making significant strides in maritime safety, compliance and communication. These terminals form a significant part of any ship&#39;s hybrid network system with improved cost structure, efficiency and performance in maritime safety and security.
<h2>What Does Our Model Say for IRDM in Q3?</h2>
Our proven model does not conclusively predict an earnings beat for Iridium this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here.
Earnings ESP: Iridium has an Earnings ESP of 0.00%.
Zacks Rank: Iridium currently carries a Zacks Rank #2.
<h2>Stocks to Consider</h2>
Here are some stocks you may consider, as our model shows that these have the right combination of elements to beat on earnings this season.
Equifax (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/efx#NYSE">EFX</a>) currently has an Earnings ESP of +1.56% and a Zacks Rank #2.
It is scheduled to release results for the third quarter of 2024 on Oct. 16. The Zacks Consensus Estimate for Equifax&#39;s to-be-reported quarter&#39;s earnings and revenues is pegged at $1.84 per share and $1.44 billion, respectively. Shares of EFX have gained 58.5% in the past year.
Netflix (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nflx#NASDAQ">NFLX</a>) has an Earnings ESP of +1.37% and a Zacks Rank #2 at present. It is scheduled to release third-quarter 2024 results on Oct. 17. The Zacks Consensus Estimate for Netflix&#39;s to-be-reported quarter&#39;s earnings and revenues is pegged at $5.07 per share and $9.77 billion, respectively. Shares of NFLX have gained 100.3% in the past year.
Abbott Laboratories&nbsp;has an Earnings ESP of +0.18% and a Zacks Rank #2 at present. It is scheduled to release third-quarter 2024 results on Oct. 16. The Zacks Consensus Estimate for Abbott&#39;s to-be-reported quarter&#39;s earnings and revenues is pegged at $1.20 per share and $10.56 billion, respectively. Shares of ABT have gained 25.9% in the past year.
<a href="https://www.zacks.com/stock/news/2349984/iridium-gearing-up-to-report-q3-earnings-here-s-what-to-expect?cid=CS-BENZ-FT-analyst_blog|earnings_preview-2349984">To read this article on Zacks.com click here.</a>

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Iridium Gearing Up to Report Q3 Earnings: Here's What to Expect

Iridium Enters Collaboration With Nordic Semiconductor For Early Integration Of Its Iridium NTN Direct Service Into LTE-M/NB-IoT Modules And Chipsets

Satcom Direct Brasil and MRS Log&iacute;stica are deploying Iridium Certus terminals for reliable positive train control and essential rail line interoperability.

Iridium Says Its Certus Selected By Brazilian Railway Operator MRS Logistica For Weather-Resilient Satellite Connectivity

&nbsp;<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4262807-1&amp;h=18266891&amp;u=https%3A%2F%2Fwww.iridium.com%2F&amp;a=Iridium+Communications+Inc.">Iridium Communications Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>), a leading provider of global voice and data satellite communications, today announced that the 3rd Generation Partnership Project (<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4262807-1&amp;h=3188554480&amp;u=https%3A%2F%2Fwww.3gpp.org%2F&amp;a=3GPP">3GPP</a>) accepted Iridium's request to extend the functionality of Narrowband Internet of Things (NB-IoT) for Non-Terrestrial Networks (NTN) into the Work Plan for 3GPP Release 19 as an official Work Item. This will pave the way for Iridium's satellite service to be accessible via industry standard chipsets, furthering the company's progress in developing and deploying its newest service, Iridium NTN Direct℠, over the <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4262807-1&amp;h=2436757427&amp;u=https%3A%2F%2Fwww.iridium.com%2Fnetwork%2F&amp;a=Iridium%C2%AE+Network">Iridium&#xAE; Network</a>. Born from the company's Project Stardust initiative, the Iridium NTN Direct service being announced today is expected to be the world's first truly global&nbsp;5G NB-IoT service. <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4262807-1&amp;h=945366429&amp;u=https%3A%2F%2Fwww.3gpp.org%2Fspecifications-technologies%2Freleases%2Frelease-19&amp;a=3GPP+Release+19">3GPP Release 19</a>&nbsp;is currently scheduled to be completed in the fourth quarter of 2025.
&nbsp;
In January 2024, Iridium announced <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4262807-1&amp;h=3667490169&amp;u=https%3A%2F%2Finvestor.iridium.com%2F2024-01-10-Iridium-Unveils-Project-Stardust-Developing-the-Only-Truly-Global%2C-Standards-Based-IoT-and-Direct-to-Device-Service&amp;a=Project+Stardust">Project Stardust</a> to enable NB-IoT NTN standards-based communication through its operational LEO constellation – and has since made considerable progress at a rapid pace. Iridium NTN Direct technical development is well underway, with a successful demonstration having taken place earlier this year in a lab environment. Iridium has also joined <a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4262807-1&amp;h=36862901&amp;u=https%3A%2F%2Fwww.gsma.com%2F&amp;a=GSMA%2C">GSMA,</a> and is continuing to advance development with additional trials and demonstrations scheduled for early next year.
"We're already well into our technology development, and we're excited about our progress and to see so much enthusiasm from the 3GPP community," said Greg Pelton, CTO, Iridium. "As a cloud-based service powered by the flexibility of our software-defined satellites and building upon recognized industry standards, we've been able to jump off to a super-fast start. Our team is really motivated to make this happen."
Iridium NTN Direct will offer the opportunity for smartphone companies, OEMs, chipmakers, mobile network operators (MNO) and related IoT developers who utilize 3GPP standards-based technology to leverage Iridium's existing network and globally allocated and coordinated spectrum, providing a global, low-latency LEO user experience.
"When it comes to providing D2D, we don't have to be first, but we have to be the best. Iridium NTN Direct is an important initiative for us, and we've been able to pivot on an unprecedented scale and make significant progress toward providing the best service," said&nbsp;Matt Desch, CEO, Iridium. "We're grateful for the wide industry support of our vision to expand access to Iridium's global lifeline service by enabling it for anyone with a cellular device."
The Iridium satellite constellation's crosslinked, LEO architecture and global L-band spectrum provide a service advantage versus other LEO and geostationary satellite networks. Certified to provide safety of life services by international regulatory bodies, the Iridium network is known for its reliability and continues to be the only network that provides connectivity everywhere on Earth. Operating in LEO, the Iridium constellation does not suffer from the same line-of-sight limitations, significant power requirements or outages that can affect entire regions from a single satellite as faced by geostationary systems.

Iridium's Satellite Service Gains Momentum for 2025 Global 5G NB-IoT Expansion

Iridium Board Approves $500M Share Repurchase Program, Bringing Total Authorization To $1.5B, With Targeted Completion By December 2027

BWS Financial analyst Hamed Khorsand reiterates Iridium Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) with a Neutral and maintains $30 price target.

Price Target

Reiteration

BWS Financial Reiterates Neutral on Iridium Comms, Maintains $30 Price Target

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Shares of companies within the broader communication services sector are trading lower possibly in sympathy with overall market weakness.

Barclays analyst Mathieu Robilliard maintains Iridium Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) with a Overweight and raises the price target from $44 to $45.

Barclays Maintains Overweight on Iridium Comms, Raises Price Target to $45

U.S. stocks were mixed, with the Dow Jones index falling around 50 points on Tuesday.
Shares of Danaher Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHR#NYSE">DHR</a>) rose sharply during Tuesday's session after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39907956/life-science-giant-danahers-q2-earnings-beat-estimates-on-sustained-positive-momentum-in-bioprocess">second quarter earnings</a>.
Danaher's second quarter sales decreased 3% year-over-year to $5.743 billion, beating the consensus of $5.59 billion. Danaher reported second-quarter adjusted EPS of $1.72, beating the consensus of $1.57, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro.</a>
Danaher shares gained 7.4% to $269.35 on Tuesday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Kiniksa Pharmaceuticals International, plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KNSA#NASDAQ">KNSA</a>) shares jumped 16% to $24.81 after the company reported better-than-expected second-quarter sales results and raised its FY24 net product revenue guidance.</li>
<li>Spotify Technology S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPOT#NYSE">SPOT</a>) gained 12.7% to $333.02 following second-quarter earnings.</li>
<li>NuScale Power Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SMR#NYSE">SMR</a>) surged 11.8% to $12.34.</li>
<li>PureCycle Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PCT#NASDAQ">PCT</a>) gained 11.8% to $6.90.</li>
<li>KKR Real Estate Finance Trust Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KREF#NYSE">KREF</a>) surged 11.2% to $11.22 following second-quarter results.</li>
<li>MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) shares jumped 11.1% to $561.96 following better-than-expected second-quarter financial results.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) gained 10.3% to $66.27.</li>
<li>Beam Therapeutics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BEAM#NASDAQ">BEAM</a>) gained 9% to $29.48. HC Wainwright &amp; Co. analyst Patrick Trucchio initiated coverage on Beam Therapeutics with a Buy rating and announced a price target of $80.</li>
<li>Iridium Communications Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) rose 8.5% to $28.11 after the company reported better-than-expected second-quarter EPS results.</li>
<li>Crown Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>) gained 8.5% to $84.04 after the company reported better-than-expected second-quarter earnings and raised its FY24 EPS guidance above estimates.</li>
<li>MakeMyTrip Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MMYT#NASDAQ">MMYT</a>) climbed 8% to $96.75 following better-than-expected quarterly earnings.</li>
<li>Inter Parfums, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPAR#NASDAQ">IPAR</a>) gained 8% to $137.34 after the company reported better-than-expected expected sales.</li>
<li>Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>) rose 8% to $16.51 as the company released preliminary second quarter 2024 financial results and signed a definitive agreement to acquire Rotech Healthcare for $1.36 billion in cash.</li>
<li>Mesoblast Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MESO#NASDAQ">MESO</a>) shares gained 8% to $8.15. Mesoblast recently started enrollment in Phase 3 trial of Rexlemestrocel-L for chronic low back pain.</li>
<li>Pentair plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNR#NYSE">PNR</a>) gained 7.7% to $86.19 after the company reported better-than-expected second quarter financial results and revised its FY24 adjusted EPS guidance above estimates.</li>
<li>Park National Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PRK#NYSE">PRK</a>) gained 7.4% to $182.78 following upbeat quarterly earnings.</li>
<li>Wheels Up Experience Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UP#NYSE">UP</a>) gained 7.1% to $3.46.</li>
<li>GE Aerospace (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GE#NYSE">GE</a>) shares surged 6.4% to $173.21 after the company reported better-than-expected second quarter adjusted EPS and raised its FY24 outlook.</li>
<li>SAP SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAP#NYSE">SAP</a>) gained 6% to $0.2390 after the company reported second-quarter financial results.</li>
<li>Hims &amp; Hers Health, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NASDAQ">HIMS</a>) gained 5.6% to $21.51.</li>
<li>e.l.f. Beauty, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ELF#NYSE">ELF</a>) surged 5.5% to $178.95.</li>
<li>Zions Bancorporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZION#NASDAQ">ZION</a>) rose 5.4% to $52.12 after posting better-than-expected quarterly results on Monday.</li>
<li>Brown &amp; Brown, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRO#NYSE">BRO</a>) gained 5.2% to $97.99 following upbeat quarterly earnings.</li>
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Intraday Update

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Danaher Posts Upbeat Earnings, Joins Spotify, MSCI, Owens & Minor And Other Big Stocks Moving Higher On Tuesday

Iridium Communications shares are trading higher after the company reported better-than-expected Q2 EPS results.

Iridium Communications Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) shares are<a href="https://www.benzinga.com/premarket" target="_blank" rel="noreferrer noopener"> trading higher on Tuesday</a> after the McLean, Virginia-based company reported second-quarter earnings of 27 cents per share, <a href="https://www.benzinga.com/pressreleases/24/07/n39902324/iridium-announces-second-quarter-2024-results" target="_blank" rel="noreferrer noopener">beating the street view of 18 cents</a>.
Quarterly sales of 201.067 million missed the street view of $201.852 million.
Iridium ended the quarter with 2.41 million total billable subscribers, versus 2.14 million for the year-ago period. Subscriptions are up from 2.33 million <a href="https://www.benzinga.com/earnings" target="_blank" rel="noreferrer noopener">for the quarter ended March 31, 2024.</a>
Total billable subscribers grew 13% year-over-year, led by growth in commercial IoT.
Net income primarily benefitted from a year-over-year decrease in depreciation expense associated with extending the estimated useful lives of the company&#8217;s satellites and the prior year&#8217;s write-off of the company&#8217;s remaining ground spare.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/07/39903213/us-stock-futures-little-changed-as-traders-brace-for-q2-reports-from-alphabet-tesla-there-remains-s" rel="noreferrer noopener">US Stock Futures Little Changed As Traders Brace For Q2 Reports From Alphabet, Tesla: ‘There Remains Strong Fundamental Support For Large Caps,' Says Economist</a>
Capital expenditures were&nbsp;$12.4 million&nbsp;for the second quarter, including&nbsp;$1.2 million&nbsp;in capitalized interest.
The company ended the second quarter with gross Term Loan debt of&nbsp;$1.6 billion,&nbsp;$50.0 million&nbsp;outstanding under the Revolving Facility, and a cash and cash equivalents balance of&nbsp;$63.5 million.
Iridium repurchased three percent of its shares and increased its quarterly dividend to common shareholders, according to CEO Matt Desch. &#8220;We plan to continue being aggressive with our shareholder-friendly activities in 2024, based on current market valuations,&#8221; he added. 
Outlook: The company reiterated its full-year 2024 outlook. Total service revenue<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> growth is projected between 4% and 6% for the full year 2024.</a>
Total service revenue for 2023 was&nbsp;$584.5 million.
Full-year 2024 OEBITDA is expected between&nbsp;$460 million&nbsp;and&nbsp;$470 million. OEBITDA for 2023 was&nbsp;$463.1 million.
Price Action: IRDM shares are trading higher by 9.49% to $28.38 at last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/news/earnings/24/07/39905321/automotive-manufacturer-polaris-shares-tumble-on-q2-earnings-miss-and-guidance-cut-amid-inventory-f" target="_blank" rel="noreferrer noopener">Automotive Manufacturer Polaris Shares Tumble On Q2 Earnings Miss And Guidance Cut Amid Inventory Focus</a></li>
</ul>

Equities

Guidance

Iridium Surges On Strong Subscriber Growth: 'We Plan To Continue Being Aggressive,' CEO Says

The Company reiterated its full-year 2024&nbsp;outlook&nbsp;and updated its longer-term&nbsp;guidance&nbsp;on net leverage:
<ul>
<li>Total service revenue growth between&nbsp;4%&nbsp;and&nbsp;6%&nbsp;for full-year 2024. Total service revenue for 2023 was&nbsp;$584.5 million.</li>
<li>Full-year 2024 OEBITDA between&nbsp;$460 million&nbsp;and&nbsp;$470 million. OEBITDA for 2023 was&nbsp;$463.1 million.</li>
<li>Cash taxes of less than&nbsp;$10 million&nbsp;per year from 2024 through 2026. We expect that the longer-term cash tax rate will move closer to the statutory rate in 2028.</li>
<li>Net leverage below 4.0 times OEBITDA through 2026 and falling below 2.0 times OEBITDA by the end of the decade, assuming the completion of the Company&#39;s share repurchase authorization and the payment of quarterly dividends consistent with the current level. (Previous near-term&nbsp;guidance&nbsp;for net leverage was below 2.5 times OEBITDA as Iridium exited 2026.) Net leverage was 3.1 times OEBITDA at&nbsp;December 31, 2023.</li>
</ul>

Iridium Communications Reiterated FY24 Service Revenue Growth of 4%-6%, OEBITDA of $460M-$470M

Earnings Misses

Iridium Comms Q2 2024 GAAP EPS $0.27 Beats $0.18 Estimate, Sales $201.067M Miss $201.852M Estimate

<a href="https://www.bcsatellite.net/blog/smartphone-giants-compete-to-connect-via-satellite/#:~:text=Samsung%20made%20waves%20by%20signing,seriousness%20about%20space%2Dbased%20communication.">https://www.bcsatellite.net/blog/smartphone-giants-compete-to-connect-via-satellite/#:~:text=Samsung%20made%20waves%20by%20signing,seriousness%20about%20space%2Dbased%20communication.</a>
Major smartphone developers Samsung, Apple, and Huawei are locked in a high-stakes battle to be the first to provide reliable 5G connectivity from space to devices in even the most remote locations on Earth.
As smartphones become ubiquitous worldwide, users increasingly expect to remain connected no matter where they are. However, connecting smartphones via cellular towers leaves gaps in places like rural areas, oceans, and airplanes. Space-based 5G connectivity promises to bridge these gaps and give users a more stable connection.
Realizing this immense opportunity, smartphone giants are channeling R&amp;D efforts into satellite communication capabilities. While still a nascent field, early signs indicate fierce competition ahead as companies vie to tap the potentially massive space-to-smartphone connectivity market.
<h3>Samsung Pushes Boundaries with Satellite Connectivity</h3>
Samsung made waves by signing a deal with satellite operator Iridium in early 2023 to bring satellite connectivity to the Samsung Galaxy S23 smartphone series. Though initially limited to text-based messaging, the partnership underscores Samsung's seriousness about space-based communication.
Samsung executive TM Roh stated that satellite connectivity in smartphones opens up "powerful mobility solutions" when beyond typical network coverage areas. Samsung's early move into space-to-smartphone technology indicates they aim to lead innovation rather than follow Apple. Given Samsung's engineering prowess and vast resources, they are well-positioned to set the pace.

Rumors

Watching Iridium Communications; Traders Circulate 'Samsung Pushes Boundaries With Satellite Connectivity' NOTE: Samsung Signed A Deal With Satellite Operator Iridium In Early 2023

<ul>
<li>As cyber threats to GNSS grow, network operators are turning to alternative sources of positioning, navigation and timing data</li>
<li>Adtran's Oscilloquartz solutions now support Iridium&#xAE; STL services as part of a zero-trust architecture, delivering precise, secure timing via low-Earth orbit satellites</li>
<li>Customers from 5G mobile operators to the defense sector can select STL services to ensure ultimate defense against GNSS vulnerabilities</li>
</ul>

ADTN

Adtran And Iridium Strengthen Announce European And Asia-Pacific Launch Of Its Solutions Featuring Iridium STL Technology

Driven by increased commercial demand, Iridium partners are now authorized to sell the service in parts of Europe and Asia Pacific, helping to protect locally relied upon GNSS systems, like GPS and Galileo, with a signal highly resilient to spoofing and jamming, that also helps ensure the fidelity of timing systems

Iridium Communications Announced Expanded Commercial Availability Of Its Satellite Time And Location Service, An Alternative Positioning, Navigation, And Timing Solution

<a href="https://c212.net/c/link/?t=0&amp;l=en&amp;o=4181680-1&amp;h=1813863834&amp;u=https%3A%2F%2Fwww.iridium.com%2F&amp;a=Iridium+Communications+Inc.">Iridium Communications Inc.</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>), a leading provider of global voice and data satellite communications, today announced it has been awarded a new five-year contract by the United States Space Force's Space Systems Command's Commercial Space Office (COMSO) for Enhanced Mobile Satellite Services (EMSS) capabilities and security sustainment services (ECS3). In support of the Iridium EMSS program, the ECS3 contract will ensure continued optimal operations of the EMSS Service Center in support of critical U.S. government applications. The value of the contract is approximately $94 million with a potential total value of $103 million, based on future surge requirements.

Iridium Awarded 5-Year, $94M Contract By Space Systems Command, Has A Potential Total Value Of $103M, Based On Future Surge Requirements

Iridium Communications Announced A Historic Development For Uncrewed Aerial Systems Operations Beyond Visual Line Of Sight

Iridium Communications shares are trading higher after Barclays maintained an Overweight rating on the stock and raised its price target from $42 to $44.

Barclays analyst Mathieu Robilliard maintains Iridium Comms (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IRDM#NASDAQ">IRDM</a>) with a Overweight and raises the price target from $42 to $44.

Barclays Maintains Overweight on Iridium Comms, Raises Price Target to $44

Iridium Communications ( ($IRDM) ) has provided an update. Iridium Communications Inc. has announced an impressive expansion to its share repurchas...

Iridium Communications Boosts Stock Buyback Program

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Iridium accelerates direct-to-device service with acceptance into 3GPP standards

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Iridium Communications: Still A Solid Long-Term Play On Steady Growth

Morgan Stanley analyst Simon Flannery maintained a Buy rating on Iridium Communications (IRDM – Research Report) today and set a price target of $3...

Iridium Communications: Navigating Competitive Seas with Resilience and Strong Capital Returns

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