Iridium Communications Inc at Needham Growth Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Ryan Koontz - Needham & Company - Analyst : Yeah. Maybe walk us through your base customer segments that you currently serve? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 14, 2025 / 9:30PM, IRDM.OQ - Iridium Communications Inc at Needham Growth Conference

Question: Ryan Koontz - Needham & Company - Analyst : Is that primarily around safety?

Question: Ryan Koontz - Needham & Company - Analyst : Yeah. That's quite a beachhead that you have there. And what do you think investors are missing most about the story in a nutshell?

Question: Ryan Koontz - Needham & Company - Analyst : Yes, sir. Well, speaking about that cash, and your generation capability about 10 months ago, you completed your first acquisition there of Satelles. They're in position, navigation and timing, I think. Talk about that opportunity and why you did that deal?

Question: Ryan Koontz - Needham & Company - Analyst : Is it a government opportunity there?

Question: Ryan Koontz - Needham & Company - Analyst : Sounds like a really underappreciated opportunity. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 14, 2025 / 9:30PM, IRDM.OQ - Iridium Communications Inc at Needham Growth Conference

Question: Ryan Koontz - Needham & Company - Analyst : Maybe shifting to the macro here. You've been through a few ups and downs. I mean, how has the macro wins kind of whipped around your business over the years? Can you talk about the resilience of the business and where you're -- what you've been sensitive to and what you have in terms of financial performance?

Question: Ryan Koontz - Needham & Company - Analyst : Yeah. How about the changes coming from the new administration coming in, they seem very pro-safe -- pro-space. Obviously, a lot of excitement about the sector. How do you see it from your seat to you?

Question: Ryan Koontz - Needham & Company - Analyst : And I'm sure you hear play about the bogeyman, Elon, and he's coming in and his SpaceX and Starlink is eating the world, so to speak. I mean. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 14, 2025 / 9:30PM, IRDM.OQ - Iridium Communications Inc at Needham Growth Conference

Question: Ryan Koontz - Needham & Company - Analyst : And your L-band is inherently more resilient, I'm sure.

Question: Ryan Koontz - Needham & Company - Analyst : So who does that leave as competition then if SpaceX or Starlink, who do you view as competitors?

Question: Ryan Koontz - Needham & Company - Analyst : So these other players, what are their challenges, the ASTs and Viasat and Link Global, Starlink? What are the big challenges here and going direct device?

Question: Ryan Koontz - Needham & Company - Analyst : Right. And during rain and all the other --

Question: Ryan Koontz - Needham & Company - Analyst : Yeah, exactly. So you had this fall start with Qualcomm, your first initiative. What did you learn from that and that you're baking into your new strategy around direct device?

Question: Ryan Koontz - Needham & Company - Analyst : Right. Right. You'd be more of a neutral party. Exactly. Great. In terms of LEO, I've always thought about LEOs have a very short light to be constantly replenished and hear your constellation has been up there for a long time, over 10 years, right? -- can walk us through why you're there in terms of useful life and

Question: Ryan Koontz - Needham & Company - Analyst : And what's your expected life now of these?

Question: Ryan Koontz - Needham & Company - Analyst : Yes. Yes. Let's shift to kind of financial goals. You've set some pretty, pretty big targets out there. Can you walk us through some of your big long-term targets you've set for the business and how you aim to go accomplish those?

Question: Ryan Koontz - Needham & Company - Analyst : Great. Can you talk about your view on the aviation market? There's a lot of excitement about that. Starlink positioning, but can you kind of drill down into your position in aviation and how you see that evolving? It seems like a very important market. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 14, 2025 / 9:30PM, IRDM.OQ - Iridium Communications Inc at Needham Growth Conference

Question: Ryan Koontz - Needham & Company - Analyst : Yes. I'll ask about that, too.

Question: Ryan Koontz - Needham & Company - Analyst : Yes, outstanding. And talk about your US government business a little bit, obviously, really important around defense and civil -- I'm sure civil as well as federal.

Question: Ryan Koontz - Needham & Company - Analyst : Outstanding. How about upcoming catalysts? What sort of catalysts you see for the business coming up that you're excited to talk about in 2025.

Question: Ryan Koontz - Needham & Company - Analyst : Exciting. We have just a couple of minutes left. We have any questions from the audience. Anybody would like to contribute?

Question: Ryan Koontz - Needham & Company - Analyst : That's it. Any other questions? Great. Any last comments on wrapping up, Matt?

Question: Ryan Koontz - Needham & Company - Analyst : Thanks so much.