Iridium Comm - IRDM STOCK NEWS

Adtran, in collaboration with Iridium Communications, has launched synchronization solutions with Iridium's Satellite Time and Location (STL) technology across Europe and the Asia-Pacific regions. This initiative aims to counter growing threats to Global Navigation Satellite Systems (GNSS) by providing secure, precise positioning, navigation, and timing (PNT) services via low-Earth orbit (LEO) satellites. The OSA 5405-S PTP compact grandmaster clock and OSA 5400 STL module are key products now available, offering robust timing support for critical infrastructures like 5G networks and defense systems. STL services are significantly stronger and more resilient than traditional GNSS, ensuring continuous synchronization even in compromised environments. Adtran offers these services through flexible annual licenses or bundled equipment packages, catering to various financial planning needs.

Iridium Communications (Nasdaq: IRDM) has expanded its Satellite Time and Location (STL) service to parts of Europe and Asia Pacific, addressing increased international demand. The STL service offers a robust alternative to traditional positioning, navigation, and timing (PNT) solutions, providing a signal 1,000 times stronger than GPS and resilient to spoofing and jamming. This service is particularly important for critical infrastructures like transportation, energy grids, data centers, telecommunications, and financial services in regions experiencing heightened GPS interference. Iridium's STL can function indoors without rooftop antennas and can be integrated into existing GNSS systems or used as standalone units. The company plans further geographic expansions as it scales its partner network and support staff.

Iridium Communications (NASDAQ: IRDM) has secured a new five-year contract worth $94 million from the United States Space Force's Space Systems Command. The contract could potentially reach a total value of $103 million with future surge requirements. This contract aims to support Enhanced Mobile Satellite Services (EMSS) and security sustainment for the U.S. government. Iridium's EMSS program provides essential global communication services to the Department of Defense and approved users. The new ECS3 contract ensures continued optimal operations of the EMSS Service Center. Iridium has been a partner of the DoD for over 20 years, and this new contract extends their partnership through 2029.

On May 15, 2024, Iridium Communications announced a significant milestone in uncrewed aerial systems (UAS) operations, with its partner American Aerospace Technologies (AATI) receiving the first FAA waiver for Beyond Visual Line of Sight (BVLOS) commercial drone operations. This breakthrough enables AATI to perform remote aerial surveillance for a major oil and gas company in San Joaquin Valley using Iridium's low-latency L-Band satellite connectivity. This technological advancement allows large drones to conduct routine inspections of pipeline networks, enhancing safety and efficiency while reducing costs. Iridium's collaboration with Blue Sky Network has resulted in the development of the SkyLink 7100 terminal, providing continuous tracking, command and control, and Detect and Avoid capabilities. This achievement is expected to pave the way for broader adoption of BVLOS UAS in the National Airspace System, showcasing the practical application of innovative satellite communications technology.

Iridium Communications Inc. reported financial results for the first quarter of 2024, including a net income of $19.7 million and operational EBITDA of $115.0 million. The company completed its first-ever acquisition of Satelles, Inc. and saw a 3% year-over-year increase in net income. Total revenue was $203.9 million, with service revenue growing by 7%. The company ended the quarter with 2,333,000 total billable subscribers, a 14% increase year-over-year. Iridium's CEO, Matt Desch, highlighted the strong service revenue growth and the recent acquisition of Satelles, positioning the company as a leading provider of satellite-based time and location services.

Iridium Communications Inc. (IRDM) secures a new five-year commercial contract with L3Harris Technologies for the Iridium Satellite Time and Location service, providing timing sync to data center facilities across the U.S. The deployment includes Adtran's Oscilloquartz devices for network synchronization, ensuring reliable and resilient operations for critical infrastructure applications.

Iridium Communications Inc. (IRDM) completes the acquisition of Satelles, Inc., becoming a leader in secure satellite-based time and location services. The new Iridium Satellite Time and Location (STL) service enhances GPS security for critical infrastructure, data centers, 5G base stations, and various sectors.

Iridium Communications Inc. (IRDM) will host a conference call on April 18, 2024, to discuss its first-quarter 2024 financial results. The earnings press release will be available on the company's website. Participants can dial in or join the webcast for the call.

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.