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MCLEAN, Va. - Iridium Communications Inc. (NASDAQ: IRDM), a $2.8 billion market cap satellite communications company with robust financials including a 72.45% gross profit margin, has launched a new messaging app called Iridium Chat, designed to work with its Iridium GO! exec satellite communication device. The app is now available for free on both Apple and Android platforms. Iridium Chat allows for app-to-app messaging, image sharing, and location updates, and is optimized for use via the Iridium network, Wi-Fi, or cellular connections.
The company also introduced an unlimited midband data plan, Iridium Certus 100, targeting users with lower-bandwidth requirements. This plan is intended to support popular IP messaging apps without the risk of data overages.
Iridium GO! exec, known for its battery-powered portability, provides remote connectivity for various user groups, including remote workers and adventurers. The Iridium Chat app is an extension of this service, offering unlimited messaging across all subscription plans and enhancing the user experience by maintaining connectivity in remote locations.
Josh Miner, Iridium’s vice president of Land Mobile, emphasized the efficiency and cost-effectiveness of the Iridium Chat app, stating it ensures productivity for professionals in any location. The app supports group messaging for up to 50 individuals, real-time message status updates, and private messaging for multiple users sharing a single device.
The Iridium Chat app utilizes Iridium Messaging Transport (IMT) for a seamless messaging experience and is designed to work globally, providing reliable connectivity even in adverse weather conditions. Users can download the app from the iOS App Store or Google Play.
Iridium Communications, headquartered in McLean, Virginia, operates the only satellite network with global coverage, offering mobile voice and data communications. The company’s stock is traded on the Nasdaq under the ticker symbol IRDM. InvestingPro analysis suggests the stock is currently undervalued, with analysts maintaining a bullish outlook. InvestingPro subscribers can access additional insights through comprehensive Pro Research Reports, including 6 more exclusive ProTips and detailed financial metrics that help evaluate the company’s growth potential.
This article is based on a press release statement from Iridium Communications Inc.
In other recent news, Iridium Communications reported its first-quarter 2025 earnings, surpassing analyst expectations with earnings per share of $0.27 against a forecast of $0.22, and revenue reaching $214.88 million compared to the anticipated $211.74 million. Despite these positive results, the company’s stock experienced a decline, reflecting investor concerns over future growth. Iridium also announced a partnership with Syniverse to provide global satellite connectivity through the Iridium NTN Direct service, targeting mobile network operators seeking low-earth orbit solutions. Additionally, the company’s shareholders approved an amended equity incentive plan, reserving over 38 million shares for stock options and other equity awards, and declared a cash dividend of $0.14 per share. Analyst firms Oppenheimer and William Blair recently upgraded Iridium’s stock rating to Outperform, citing strong free cash flow projections and robust partnerships as key factors. William Blair emphasized the company’s ongoing collaborations with Garmin and the U.S. government, while Oppenheimer noted anticipated revenue growth from new direct-to-device capabilities and IoT advancements. These developments underscore Iridium’s strategic initiatives to enhance its market position and financial performance.
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