Welcome to our dedicated page for ORBCOMM news (Ticker: ORBC), a resource for investors and traders seeking the latest updates and insights on ORBCOMM stock.
ORBCOMM Inc. (ORBC) is a global leader in industrial Internet of Things solutions, specializing in asset monitoring and control through integrated satellite and cellular connectivity. This page serves as the definitive source for official company announcements, financial disclosures, and strategic developments impacting the industrial IoT sector.
Investors and industry professionals will find curated press releases covering earnings reports, technology innovations, partnership announcements, and operational updates. Our collection ensures timely access to information critical for understanding ORBC's market position in transportation, logistics, and global asset management solutions.
The news archive features updates across key operational areas including new product launches, network expansions, strategic collaborations, and regulatory developments. All content is sourced directly from company communications to maintain accuracy and compliance with financial disclosure standards.
Bookmark this page for streamlined access to ORBCOMM's latest developments. Check back regularly for updates that matter to stakeholders in industrial IoT, supply chain optimization, and connected enterprise solutions.
ORBCOMM reported total revenues of $63.7 million for Q1 2021, slightly down from $66.2 million in the previous year. The company shipped 87,000 devices and added 50,000 net subscribers, bringing the total to 2.28 million. Despite a gross margin decline, product sales increased to $25.9 million, marking a 1.1% year-over-year growth. Operating expenses rose to $40.1 million, influenced by a non-cash $6.7 million satellite impairment charge. ORBCOMM is set for acquisition by GI Partners at $11.50 per share, representing a 52% premium.
ORBCOMM has significantly enhanced operational efficiency for Ron Finemore Transport, a major carrier in Australia, through its IoT-based asset management solutions. Implemented since 2014, ORBCOMM's telematics have improved safety, reduced load claims, and optimized fleet performance. The company utilizes a unified analytics platform to analyze data, improving driver behavior and reducing costs. Future plans include employing EBS technology for better load monitoring. This partnership highlights ORBCOMM's role in advancing transportation efficiencies across Australia.
ORBCOMM Inc. has announced its acquisition by GI Partners in an all-cash deal valued at approximately $1.1 billion, including net debt. Stockholders will receive $11.50 per share, marking a 52% premium to the closing share price prior to the announcement. The acquisition aims to bolster ORBCOMM's position in the industrial IoT market, enhancing growth and flexibility as a privately-held company. The board has unanimously approved the transaction, which is expected to close in the second half of 2021, pending stockholder and regulatory approvals.
ORBCOMM Inc. (Nasdaq: ORBC) has partnered with IWX Motor Freight to implement cold chain telematics solutions that enhance tracking and monitoring of refrigerated trailers. This collaboration aims to optimize temperature control and provide two-way monitoring of high-value cargo, ensuring compliance with the Food Safety Modernization Act. IWX will utilize ORBCOMM's dual-mode hardware and cloud-based analytics platform for real-time data and improved operational efficiency. The deployment is expected to be completed by Q2 2021, signifying ORBCOMM's commitment to innovation in the IoT space.
ORBCOMM (NASDAQ: ORBC) announced that CEO Marc Eisenberg and CFO Dean Milcos will participate in the 33rd Annual Roth Conference on March 17, 2021. This virtual event will allow management to hold one-on-one meetings with registered investors throughout the day. ORBCOMM is a leading provider of Internet of Things (IoT) solutions, offering a wide range of asset monitoring and control solutions with satellite and cellular connectivity.
ORBCOMM has announced a partnership with Global Ocean Security Technologies (GOST) to enhance maritime security through its next-generation satellite IoT technology. This collaboration allows GOST to utilize ORBCOMM's feature-rich satellite terminals for improved vessel tracking, monitoring, and surveillance.
The deployment is expected to begin in the second quarter of 2021, with further expansions planned by year-end. This partnership aims to provide enhanced reliability, global coverage, and safety for vessels, addressing various security concerns.
ORBCOMM announced its participation in the Truist Securities 2021 Technology, Internet and Services Conference on March 10, 2021. CEO Marc Eisenberg and CFO Dean Milcos will represent the company in virtual one-on-one meetings with investors throughout the event. The conference aims to enhance engagement with ORBCOMM's investor community. As a leader in industrial IoT solutions, ORBCOMM connects businesses to their assets, boosting visibility and operational efficiency across various sectors.
ORBCOMM Inc. (NASDAQ: ORBC) announced that CEO Marc Eisenberg and CFO Dean Milcos will present at the Raymond James 42nd Annual Institutional Investors Conference on March 3rd at 1:20 PM ET. This virtual event will also facilitate one-on-one meetings between management and registered investors throughout the day. Investors can access the presentation through the company's investor relations website. ORBCOMM is a leader in IoT solutions, enhancing operational efficiency across various sectors.
ORBCOMM Inc. (NASDAQ: ORBC) reported its Q4 and full year 2020 financial results, revealing total revenues of $63.8 million for Q4 and $248.5 million for the year, a decline from 2019. Recurring service revenues increased slightly, while total product sales decreased due to pandemic effects. The company achieved record cash flow from operations of $48.4 million, up $18 million from the previous year, and completed a debt refinancing, saving $12 million annually in interest. ORBCOMM anticipates first quarter 2021 revenues of $61 to $65 million with improved adjusted EBITDA margins.
