Iridium Communications Inc. ( IRDM Quick Quote IRDM - Free Report) recently augmented its portfolio for remote asset tracking, monitoring and management solutions with the commercial launch of Edge Solar — a solar-powered, intelligent, secure, and maintenance-free device. This unique and versatile IoT tracking device is likely to strengthen its leading position in the market, unlocking solid revenue-generating opportunities. The Iridium Edge Solar is a standalone and programmable, solar-powered device with Bluetooth capability for wireless sensor integration and local device connectivity. It offers real-time GPS tracking with two-way communication and remote configuration capabilities. This self-charging product leverages over-the-air configuration capabilities and is ideal for Vessel Monitoring Systems, fisheries management, tracking of freight shipping containers, monitoring of oil and gas pipelines and heavy equipment telematics data reporting. With unrivalled geographic coverage and cost-effectiveness, it is highly customizable and offers up to 10-year deployable lifespan backed by a ruggedized design with military-grade packaging. Notably, Iridium Edge Solar is fully encapsulated with no external connectors and is water ingress protected to eliminate any chances of malfunctioning. It joins Iridium Edge and Iridium Edge Pro as complementary products with definite characteristics, extending the reach of IoT services beyond cellular coverage. Markedly, Iridium’s mobile and satellite communication network leverages the advanced interlinked mesh architecture of 66 operational satellites to provide global reach of its services across numerous territories. The company believes in the philosophy of delivering cost-effective and competitive broadband services through its highly-lauded Iridium Certus technology. The technology delivers a wide array of services, ranging from voice to a high-throughput L-band data connection to meet the burgeoning demands of customers. The company has also teamed up with Amazon.com, Inc.’s ( AMZN Quick Quote AMZN - Free Report) Amazon Web Services to create a cloud-based solution, Iridium CloudConnect, to bolster global coverage for IoT applications. The mobile and satellite communications services provider’s commercial business is considered as the primary driver of long-term growth. It serves a diversified customer base and sectors such as maritime, aviation, government, utilities, oil and gas, mining, heavy equipment, construction and transportation with its unique L-band satellite network. The commercial services form an essential component of its communications and business infrastructure and the introduction of Iridium Edge Solar is likely to fortify this business. Despite the macroeconomic headwinds caused by COVID-19 pandemic, Iridium has emerged as a strong player on the back of its resilient business model. With healthy demand trend of subscriber equipment, its revenues are expected to be either equal to or greater than 2019 level. Iridium expects full-year 2020 total service revenues to grow nearly 3% compared with the prior guidance of 1-2% rise backed by stabilized IoT and voice business post COVID-19 crisis. We remain impressed with the inherent growth potential of this Zacks Rank #2 (Buy) stock. Some other top-ranked stocks in the broader industry are Aviat Networks, Inc. ( AVNW Quick Quote AVNW - Free Report) and Ubiquiti Inc. ( UI Quick Quote UI - Free Report) , both sporting a Zacks Rank #1 (Strong Buy). You can see . the complete list of today’s Zacks #1 Rank stocks here Aviat delivered a positive earnings surprise of 11.8%, on average, in the trailing four quarters. Ubiquiti has a long-term earnings growth expectation of 18.4%. It delivered a positive earnings surprise of 27.9%, on average, in the trailing four quarters. Breakout Biotech Stocks with Triple-Digit Profit Potential
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