IRDM
Iridium Communications Inc.

Iridium Communications Inc.IRDM

Communication Services · Telecom Services
44.04USD
+4.81%
Nov 08, 2026
IRDM overview ready
Global Low-Earth-Orbit Mobile Satellite Communications Provider to Governments and Commercial Users
Iridium operates a global low-Earth-orbit mobile-satellite network and sells recurring voice, data, positioning/navigation/timing, IoT connectivity, and hosted-payload services to commercial and government users.
Primary theme is lagging
Space is lagging (-13.9pp vs SPY over 21 sessions; 2 of 11 members ahead of SPY).
No clear price read
Longer-term context reads near trend floor, with a near-term setup of constructive pullback.
Demanding valuation
The price embeds expectations that run ahead of the strength of its balance sheet.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
High leverage and debt servicing risk.
Market Nov 6Filing Sep 30Price action Nov 7Research Oct 4

Conviction Level

PriceAction1.4BusinessPerformance5.0BusinessQuality7.2Valuation2.7ThemeMomentum1.0Mixed — Revenue growth has accelerated across 4 consecutive quarters, rising from 0.0% to +8.3% year over year. Reported earnings improved faster than operating income, so most of the improvement did not come from operations. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
SpaceLagging
vs SPY
−13.9pp
Theme return
−18.9%
Beating SPY
2 of 11
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

No clear price read
Longer-term context reads near trend floor, with a near-term setup of constructive pullback.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$4.7B
Avg Volume (60D)
987.3K
60 sessions
Revenue Growth YoY
+4.9%
FY2025 vs FY2024
Gross Margin
+46.8%
Trailing twelve months
Operating Margin
+19.0%
Trailing twelve months
Free Cash Flow Yield
+5.9%
Distance from 200DMA
+9.6%
P/E
28.7x
EV / EBITDA
16.5x
EV / Sales
7.2x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Mixed

Revenue growth has accelerated across 4 consecutive quarters, rising from 0.0% to +8.3% year over year. Reported earnings improved faster than operating income, so most of the improvement did not come from operations.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthAccelerating
+8.3%
$246M in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. 0.0%
  2. +1.9%
  3. +3.8%
  4. +8.3%
Earnings growthAccelerating
+180%
Diluted EPS $0.98 vs $0.35 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. n/a
  2. -26%
  3. -55%
  4. +180%
Operating marginContracting
12.9%
-18.0 pp YoY
Earnings improved more than operations did

Business Quality

7.2 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

Two of the three valuation perspectives say expensive; intrinsic is the dissenting view.
Iridium Communications Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the strength of its balance sheet.

Company Research

Thesis
Iridium operates a global low-Earth-orbit mobile-satellite network and sells recurring voice, data, positioning/navigation/timing, IoT connectivity, and hosted-payload services to commercial and government users.
Opportunity
Moderate opportunity
Defense and allied procurement of resilient, diversified satellite-communications capacity and supporting space-access capabilities, emphasizing commercial integration, redundancy, and connectivity that can withstand disruption.
Key risk
High leverage and debt servicing risk.

Economic classification

Loading the economic classification…

Business & Markets

Communication Services · Telecom Services
What they do

Iridium Communications operates a global low-Earth-orbit satellite network providing mobile voice, data, and IoT communications services primarily to commercial and government customers worldwide.

How it earns

The company generates revenue mainly through recurring subscription-based services for satellite voice, data, and IoT connectivity.

Products & services
Mobile satellite voice and data communications
Broadband terminals and handsets
Satellite-based IoT services
Hosted payload and data services
Customers & end markets
Commercial businesses
United States and foreign governments
Non-governmental organizations
Consumers in the US, Canada, and internationally
Market position

Leader in global low-Earth-orbit mobile satellite communications with a differentiated network and government contracts.

Demand drivers
Low cyclicality

Demand is driven by government and critical communications needs, which are less sensitive to economic cycles.