Trade Iridium Communications Inc - IRDM CFD

Iridium Company profile

About Iridium Communications Inc

Iridium Communications Inc. is a commercial provider of communications services. The Company is engaged in providing mobile voice and data communications services using a constellation of orbiting satellites. It provides voice and data communications services to businesses, the United States and foreign Governments, non-Governmental organizations, and consumers via its upgraded satellite network, which has an architecture of approximately 66 operational satellites with in-orbit and ground spares and related ground infrastructure. Its products include Satellite Handsets and Iridium GO!, Broadband Data Devices, Voice and Data Modems, and Internet of Things Data Devices. The Company's principal lines of business includes land mobile, maritime, aviation, Internet of things (IoT), hosted payloads and other data services, and United States (U.S.) Government. Its land mobile users utilize its satellite communications services for voice and data, mobile and remote office connectivity.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Iridium Communications Inc revenues increased 5% to $614.5M. Net loss decreased 83% to $9.3M. Revenues reflect United Kingdom segment increase from $47.5M to $283.6M, United States segment increase of 2% to $330.9M. Lower net loss reflects Interest expense - Balancing value decrease of 94% to $5.7M (expense), Loss on extinguishment of debt decrease of 97% to $879K (expense).

Equity composition

Common Stock $0.001 Par, 12/10, 300M auth., 70,253,50 1 issd. Insiders own approx. 31.00%. IPO: 15/02/2008, 40M shares @ $10 per share by Banc of America Securities LLC. 09/2009, Exchange changed from AMEX to NASDAQ. 09/09, Name changed from GHL Acquisition Corp.