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
Company profile
Ticker
IRDM
Exchange
Website
CEO
Matthew Desch
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Esco • Lumentum • UTStarcom • Inseego • Senstar Technologies • Iteris • NAPCO Security • PowerFleet • Vocera Communications • Wireless Telecom ...
Former names
GHL Acquisition Corp.
SEC CIK
Corporate docs
Subsidiaries
Iridium Blocker-B Inc. • Syncom-Iridium Holdings Corp. • Iridium Holdings LLC • Iridium Satellite LLC • Iridium Constellation LLC • Iridium Carrier Holdings LLC • Iridium Carrier Services LLC • Iridium Government Services LLC • Iridium Satellite SA LLC • Iridium Serviços de Satélites S.A. ...
IRS number
221344998
IRDM stock data
Latest filings (excl ownership)
8-K
Entry into a Material Definitive Agreement
26 Mar 24
8-K
Departure of Directors or Certain Officers
1 Mar 24
10-K
2023 FY
Annual report
15 Feb 24
8-K
Iridium Announces 2023 Results; Company Issues 2024 Outlook
15 Feb 24
8-K
Departure of Directors or Certain Officers
29 Dec 23
8-K
Regulation FD Disclosure
4 Dec 23
8-K
Iridium Announces New D2D Direction
9 Nov 23
10-Q
2023 Q3
Quarterly report
19 Oct 23
8-K
Iridium Announces Third-Quarter 2023 Results; Reports Record Operational EBITDA; Updates Guidance
19 Oct 23
8-K
Entry into a Material Definitive Agreement
20 Sep 23
Transcripts
IRDM
Earnings call transcript
2023 Q4
15 Feb 24
IRDM
Earnings call transcript
2023 Q3
19 Oct 23
IRDM
Earnings call transcript
2023 Q2
25 Jul 23
IRDM
Earnings call transcript
2023 Q2
25 Jul 23
IRDM
Earnings call transcript
2022 Q4
16 Feb 23
IRDM
Earnings call transcript
2022 Q3
20 Oct 22
IRDM
Earnings call transcript
2022 Q2
26 Jul 22
IRDM
Earnings call transcript
2022 Q1
19 Apr 22
IRDM
Earnings call transcript
2021 Q4
17 Feb 22
IRDM
Earnings call transcript
2021 Q3
19 Oct 21
Latest ownership filings
4
MATTHEW J DESCH
18 Mar 24
4/A
Bryan J. Hartin
12 Mar 24
4
Jane L. Harman
8 Mar 24
144
Notice of proposed sale of securities
7 Mar 24
144
Notice of proposed sale of securities
5 Mar 24
4
Scott Scheimreif
5 Mar 24
4
Kathleen A. Morgan
5 Mar 24
4
Suzanne E. McBride
5 Mar 24
4
Timothy Kapalka
5 Mar 24
4
Bryan J. Hartin
5 Mar 24
Financial summary
Quarter (USD) | Sep 23 | Jun 23 | Mar 23 | Dec 22 | |
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Diluted EPS |
Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
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Diluted EPS |
Cash burn rate (est.) | Burn method: Change in cash | Burn method: Operating income | Burn method: FCF (opex + capex) | Last Q | Avg 4Q | Last Q | Avg 4Q | Last Q | Avg 4Q |
---|---|---|---|---|---|---|
Cash on hand (at last report) | 67.88 mm | 67.88 mm | 67.88 mm | 67.88 mm | 67.88 mm | 67.88 mm |
Cash burn (monthly) | 11.86 mm | 12.57 mm | (no burn) | (no burn) | (no burn) | (no burn) |
Cash used (since last report) | 70.57 mm | 74.82 mm | n/a | n/a | n/a | n/a |
Cash remaining | -2.69 mm | -6.94 mm | n/a | n/a | n/a | n/a |
Runway (months of cash) | -0.2 | -0.6 | n/a | n/a | n/a | n/a |
Institutional ownership, Q3 2023
89.9% owned by funds/institutions
13F holders | Current |
---|---|
Total holders | 351 |
Opened positions | 38 |
Closed positions | 69 |
Increased positions | 110 |
Reduced positions | 158 |
13F shares | Current |
---|---|
Total value | 4.52 tn |
Total shares | 110.05 mm |
Total puts | 348.50 k |
Total calls | 494.50 k |
Total put/call ratio | 0.7 |
Largest owners | Shares | Value |
---|---|---|
Bamco | 14.58 mm | $663.40 bn |
Vanguard | 11.99 mm | $545.25 bn |
BLK Blackrock | 11.63 mm | $528.88 bn |
Baralonco | 10.43 mm | $419.60 mm |
Capital International Investors | 7.88 mm | $358.64 bn |
STT State Street | 4.03 mm | $183.11 bn |
Silver Heights Capital Management | 2.44 mm | $111.07 bn |
Clearbridge Advisors | 2.17 mm | $98.69 bn |
Van Berkom & Associates | 2.06 mm | $93.52 bn |
Geode Capital Management | 1.99 mm | $90.56 bn |
Recent insider trades
Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
---|---|---|---|---|---|---|---|---|---|---|
15 Mar 24 | Matthew J Desch | Common Stock | Option exercise | Acquire M | No | No | 9.45 | 149,253 | 1.41 mm | 1,025,868 |
15 Mar 24 | Matthew J Desch | Employee Stock Option Common Stock | Option exercise | Dispose M | No | No | 9.45 | 149,253 | 1.41 mm | 0 |
6 Mar 24 | Jane L. Harman | Common Stock | Sell | Dispose S | No | No | 28.41 | 3,798 | 107.90 k | 60,516.9 |
2 Mar 24 | Scott Scheimreif | Common Stock | Payment of exercise | Dispose F | No | No | 29.71 | 1,113 | 33.07 k | 172,288 |
2 Mar 24 | Scott Scheimreif | Common Stock | Grant | Acquire A | No | No | 0 | 2,306 | 0.00 | 173,401 |
2 Mar 24 | Kathleen A. Morgan | Common Stock | Payment of exercise | Dispose F | No | No | 29.71 | 999 | 29.68 k | 76,395 |
2 Mar 24 | Kathleen A. Morgan | Common Stock | Grant | Acquire A | No | No | 0 | 2,216 | 0.00 | 77,394 |
2 Mar 24 | Suzanne E. McBride | Common Stock | Payment of exercise | Dispose F | No | No | 29.71 | 1,458 | 43.32 k | 191,284 |
2 Mar 24 | Suzanne E. McBride | Common Stock | Grant | Acquire A | No | No | 0 | 3,281 | 0.00 | 192,742 |
1 Mar 24 | Scott Scheimreif | Common Stock | Grant | Acquire A | No | No | 0 | 25,244 | 0.00 | 171,095 |
News
Cathie Wood Sells $13.15M Worth Of Coinbase Shares Amid Bitcoin Flirting With All-Time High Levels — Shops For Palantir Stock Instead
8 Mar 24
Iridium Enters Agreement To Acquire Satelles; To Pay About $115M For Remaining ~80% Stake In Satelles
4 Mar 24
12 Communication Services Stocks Moving In Friday's After-Market Session
23 Feb 24
11 Communication Services Stocks Moving In Tuesday's After-Market Session
20 Feb 24
Raymond James Maintains Strong Buy on Iridium Comms, Lowers Price Target to $48
16 Feb 24
Press releases
Cosco Shipping Enhances Safety with Iridium GMDSS
12 Mar 24
Iridium to Expand its Reach as a Global Alternative PNT Service with Acquisition of Market Leader Satelles
4 Mar 24
South Korean Military Adopts Iridium Connectivity
28 Feb 24
Iridium to Participate in Investor Conferences
20 Feb 24
Iridium Announces 2023 Results; Company Issues 2024 Outlook
15 Feb 24