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Iridium estimates Satelles service revenue will climb to more than $100,000,000 per year by 2030, in addition to sales from equipment and engineering.
Iridium is spending about $115,000,000 to buy the 80% of Satelles it does not already own, with the deal expected to complete 2024-04-01.
Iridium recorded $791,000,000 in revenues for 2023, a 10% increase year-on-year.
The integration that Nova Systems will complete on behalf of its client features SKYTRAC’s SDL-350 Iridium Certus broadband satcom system and SKYTRAC’s MTC-100 touchscreen control unit.
The SDL-350 is SKYTRAC’s flagship Iridium Certus broadband system that provides global satellite connectivity with speeds up to 704 Kbps downlink and 352 Kbps uplink and includes 0.004 kg LTE cellular connectivity.
Satelles began offering a space-based PNT service in 2016 that broadcasts timing and location signals through a channel on Iridium NEXT communications satellites.
Iridium reported Q4 net income of $38,000,000 for the most recent quarter, compared to a net loss of $800,000 for the same period in 2022.
Iridium’s existing mega-constellation consists of 66 satellites that were initially given life-spans of 12.5 years when launched in 2017 or 2019.
Iridium reported Q4 total revenue of $194.7 million, consisting of $148,000,000 of service revenue and $46,700,000 of revenue related to equipment sales and engineering and support projects.
Iridium expects a 5–10% hit to average revenue per user in 2024 from losing maritime broadband business to SpaceX’s Starlink.
Revenues under contract for hosted payloads on Iridium satellites represent less than 2% of Iridium’s sales for the fourth quarter of 2023 and include the aircraft-tracking Aireon service.
The Iridium Next constellation comprises 80 operational satellites launched from 2017 to 2019 plus five spare satellites lofted in 2023.
Iridium reported service revenue of $584,500,000 for 2023 and expects service revenue growth of 4–6% for 2024.
Iridium’s $3,000,000,000 Iridium Next constellation supports services including broadband, connectivity for monitoring and tracking Internet of Things devices, and a planned direct-to-smartphone business.
Iridium recorded net income of $15,400,000 for 2023, up from $8,700,000 in 2022.
Iridium expects to reach $1,000,000,000 in annual sales before the end of the decade.
Iridium is seeking an update to terrestrial network protocols to enable its existing satellites to connect to standard user devices using globally approved L-band spectrum and aims to deploy messaging and SOS services from 2026.
Iridium reported total revenue of $790,700,000 for 2023, a 10% increase year-on-year.
Iridium expects its Iridium Next satellites to perform well to at least 2035 following a recent engineering assessment.
Ligado maintains that the April 2020 FCC decision authorizing the company to operate terrestrial 0.005 kg is final and intends to oppose Iridium’s request to intervene in the proceedings.