Iridium unveils chip to protect GPS devices against jamming, spoofing

MCLEAN, Va. - Iridium Communications Inc. (NASDAQ:IRDM), a $1.9 billion market cap satellite communications company with robust 71.62% gross margins, today announced the development of a miniature application-specific integrated circuit (ASIC) designed to protect GPS and other navigation systems from jamming and spoofing attacks. According to InvestingPro analysis, the company appears undervalued at current levels, with strong fundamentals including $857.55M in revenue and consistent profitability.

The 8mm by 8mm Iridium PNT ASIC is engineered to provide authenticated positioning, navigation, and timing data as an alternative to traditional Global Navigation Satellite Systems (GNSS), according to a company press release.

"This is a first. To provide this type of capability on a global basis has never been done before," said Iridium CEO Matt Desch.

The chip receives cryptographically secure time and location data from the Iridium satellite network, which the company says is 1,000 times more powerful than GPS and can work inside buildings.

The announcement comes amid rising concerns about GNSS vulnerabilities. Recent incidents include the jamming of European Commission President Ursula von der Leyen’s aircraft navigation system in September and GNSS malfunctions in waters near Qatar in October that disrupted maritime operations.

A September 2024 report from OPSGROUP cited a 500% increase in commercial airliner spoofing, with approximately 1,500 flights daily encountering GPS spoofing.

The economic impact of GPS outages is significant. A 2019 estimate by the U.S. National Institute of Standards and Technology suggested that a single day of GPS outage in the United States could cost approximately $1 billion. For investors seeking deeper insights, InvestingPro reveals that Iridium’s strong financial health and 7.56% revenue growth position it well to capitalize on this market opportunity. The platform offers 8 additional exclusive ProTips and comprehensive analysis in its Pro Research Report.

Mike O’Connor, executive vice president of PNT at Iridium, stated that the alternative PNT market is expected to reach $3.5 billion by 2032.

The company demonstrated the ASIC’s capabilities during last month’s Jammertest event, where it maintained timing accuracy and reliable navigation during controlled jamming and spoofing exercises.

Iridium is currently inviting organizations to apply for beta trials, with commercial availability planned for mid-2026. With the stock trading significantly below its 52-week high of $34.45, InvestingPro subscribers can access detailed valuation metrics and expert analysis to evaluate this potential investment opportunity in the growing PNT market.

In other recent news, Iridium Communications Inc. reported its third-quarter 2025 earnings, which exceeded analyst expectations. The company achieved an earnings per share (EPS) of $0.35, surpassing the forecasted $0.26, resulting in a 34.62% earnings surprise. Despite this strong financial performance, the company’s stock experienced a decline, which was attributed to broader concerns within the satellite communications sector. Analysts had anticipated a different market reaction given the positive earnings report. The earnings results highlight Iridium’s ability to outperform projections, which could be of interest to investors. These developments come amidst a dynamic period for the satellite communications industry. The company’s performance and market reaction may prompt further analysis from financial experts.

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