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Iridium (IRDM) Boosts Portfolio With Satelles Acquisition
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Iridium Communications (IRDM - Free Report) has recently closed the acquisition of Satelles, Inc., which is a leading provider of secure satellite-based time and location (STL) services. The buyout has enhanced Iridium’s solution portfolio with advanced STL services, which is now referred to as Iridium STL.
STL emerges as an important service in areas where Global Positioning System (GPS) or Global Navigation Satellite System (GNSS) signals are unable to reach. It works on signals relayed by a constellation of Low Earth orbit (LEO) satellites.
It complements and safeguards vital GPS and other GNSS-dependent systems. By using compact, cost-effective hardware, STL is also successful in mitigating threats like spoofing and jamming for GPS and GNSS-reliant systems' time-synchronized applications, stated Iridium.
IRDM highlighted that the Iridium STL signal is about 1,000 times stronger than GNSS constellations. This is because signals for Iridium STL are transmitted from Iridium’s satellite constellation's crosslinked LEO architecture.
As a result, Iridium STL can penetrate buildings and other secluded areas with only a receiver and small antenna. The Iridium STL business is likely to generate more than $100 million in service revenue per year by 2030. The company also expects to generate additional revenues from equipment and engineering.
The state-of-the-art solution finds its usage across a range of sectors and applications, from critical infrastructure, data centers, 5G base stations to aviation, maritime, land mobile and IoT sectors.
The strategic acquisition is likely to help Iridium gain a larger share of the fast-growing Positioning Navigation and Timing (PNT) services market. Per a report from Mordor Intelligence, the Assured PNT Market size is anticipated to reach $ 2.13 billion by 2028, witnessing a CAGR of 26.01% from 2024 to 2028.
Based in McLean, VA, IRDM is a satellite communications company that delivers dedicated commercial global voice and data communications services to both business and government clients in the United States as well as abroad. It also works with non-governmental organizations.
In the last reported quarter, IRDM reported a top-line increase of 0.5% to $194.7 million from the year-ago levels. The uptick was due to a growing subscriber base in service revenues, followed by an impetus in the Engineering and Support segment’s sales and commercial business lines.
The stock fell 59.1% in the past year compared with the sub-industry’s decline of 52.1%.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
Iridium currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked stocks from the industry have been discussed below.
NVIDIA Corporation (NVDA - Free Report) , currently sporting a Zacks Rank #1, delivered a trailing four-quarter average earnings surprise of 20.18%. In the last reported quarter, it delivered an earnings surprise of 13.41%. You can see the complete list of today’s Zacks #1 Rank stocks here.
NVDA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company’s focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms.
Pinterest (PINS - Free Report) , carrying a Zacks Rank #2 (Buy) at present, delivered a trailing four-quarter average earnings surprise of 37.42%. In the last reported quarter, PINS delivered an earnings surprise of 3.92%.
The company is increasingly establishing a unique value proposition to advertisers that could provide a competitive advantage in the long haul. Through various innovations, it continues to dramatically improve the advertising platform, which presently appears to be one of the best ad platforms for consumer discretionary brands looking for new ways to reach customers and stretch smaller ad budgets.
AudioCodes Ltd. (AUDC - Free Report) currently carries a Zacks Rank #2. It has a long-term earnings growth rate of 24.8%. It delivered an average earnings surprise of 20.1% in the last four quarters.
AudioCodes offers advanced communications software, products and productivity solutions for the digital workplace. It provides a broad range of innovative products, solutions and services that are used by large multi-national enterprises and leading tier-1 operators around the world. The company is headquartered in Lod, Israel.
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Iridium (IRDM) Boosts Portfolio With Satelles Acquisition
Iridium Communications (IRDM - Free Report) has recently closed the acquisition of Satelles, Inc., which is a leading provider of secure satellite-based time and location (STL) services. The buyout has enhanced Iridium’s solution portfolio with advanced STL services, which is now referred to as Iridium STL.
STL emerges as an important service in areas where Global Positioning System (GPS) or Global Navigation Satellite System (GNSS) signals are unable to reach. It works on signals relayed by a constellation of Low Earth orbit (LEO) satellites.
It complements and safeguards vital GPS and other GNSS-dependent systems. By using compact, cost-effective hardware, STL is also successful in mitigating threats like spoofing and jamming for GPS and GNSS-reliant systems' time-synchronized applications, stated Iridium.
IRDM highlighted that the Iridium STL signal is about 1,000 times stronger than GNSS constellations. This is because signals for Iridium STL are transmitted from Iridium’s satellite constellation's crosslinked LEO architecture.
As a result, Iridium STL can penetrate buildings and other secluded areas with only a receiver and small antenna. The Iridium STL business is likely to generate more than $100 million in service revenue per year by 2030. The company also expects to generate additional revenues from equipment and engineering.
The state-of-the-art solution finds its usage across a range of sectors and applications, from critical infrastructure, data centers, 5G base stations to aviation, maritime, land mobile and IoT sectors.
The strategic acquisition is likely to help Iridium gain a larger share of the fast-growing Positioning Navigation and Timing (PNT) services market. Per a report from Mordor Intelligence, the Assured PNT Market size is anticipated to reach $ 2.13 billion by 2028, witnessing a CAGR of 26.01% from 2024 to 2028.
Based in McLean, VA, IRDM is a satellite communications company that delivers dedicated commercial global voice and data communications services to both business and government clients in the United States as well as abroad. It also works with non-governmental organizations.
In the last reported quarter, IRDM reported a top-line increase of 0.5% to $194.7 million from the year-ago levels. The uptick was due to a growing subscriber base in service revenues, followed by an impetus in the Engineering and Support segment’s sales and commercial business lines.
The stock fell 59.1% in the past year compared with the sub-industry’s decline of 52.1%.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
Iridium currently sports a Zacks Rank #1 (Strong Buy). Some other top-ranked stocks from the industry have been discussed below.
NVIDIA Corporation (NVDA - Free Report) , currently sporting a Zacks Rank #1, delivered a trailing four-quarter average earnings surprise of 20.18%. In the last reported quarter, it delivered an earnings surprise of 13.41%. You can see the complete list of today’s Zacks #1 Rank stocks here.
NVDA is the worldwide leader in visual computing technologies and the inventor of the graphic processing unit. Over the years, the company’s focus evolved from PC graphics to AI-based solutions that support high-performance computing, gaming and virtual reality platforms.
Pinterest (PINS - Free Report) , carrying a Zacks Rank #2 (Buy) at present, delivered a trailing four-quarter average earnings surprise of 37.42%. In the last reported quarter, PINS delivered an earnings surprise of 3.92%.
The company is increasingly establishing a unique value proposition to advertisers that could provide a competitive advantage in the long haul. Through various innovations, it continues to dramatically improve the advertising platform, which presently appears to be one of the best ad platforms for consumer discretionary brands looking for new ways to reach customers and stretch smaller ad budgets.
AudioCodes Ltd. (AUDC - Free Report) currently carries a Zacks Rank #2. It has a long-term earnings growth rate of 24.8%. It delivered an average earnings surprise of 20.1% in the last four quarters.
AudioCodes offers advanced communications software, products and productivity solutions for the digital workplace. It provides a broad range of innovative products, solutions and services that are used by large multi-national enterprises and leading tier-1 operators around the world. The company is headquartered in Lod, Israel.