Iridium Communications Inc at Needham Growth Conference (Virtual) Transcript

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

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Yes. So yes, let's maybe start that by just talking about 2021. And what were some of the bigger themes that you saw impact the business in '21, some of the key milestones you passed for the Company?

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Great. Any particular markets or applications you could point to that overachieved in '21 that you can really hang your hat on?

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Yes. Outstanding. And how about the Company -- through the pandemic, how have you managed to keep the Company on track and chasing after your key milestones? I mean, what's changed in the Company during the pandemic?

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Very much so. So you talked about some new products on the consumer side. Anything here you want to point out that you're excited about for '22?

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Okay.

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Yes.

Question: Ryan Koontz - Needham & Company, LLC - Analyst : That's super cool. Maybe shifting gears to capital allocation, I know that's been an area of great accomplishment that you're really, really proud of. You've improved your free cash flow and reduced your leverage. Maybe walk through some of those kind of key numbers for the investors. 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 10, 2022 / 7:45PM, IRDM.OQ - Iridium Communications Inc at Needham Growth Conference (Virtual)

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Aireon's company made a private investment?

Question: Ryan Koontz - Needham & Company, LLC - Analyst : As a customer of yours, obviously too.

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Yes.

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Yes. Cool. And just circling back to your comments around supply chain, those are most -- are those mostly from your partners then that are selling consumer devices and --?

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Right. And you feel like you're losing opportunity or it just moves out in time? 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 10, 2022 / 7:45PM, IRDM.OQ - Iridium Communications Inc at Needham Growth Conference (Virtual)

Question: Ryan Koontz - Needham & Company, LLC - Analyst : I agree. How about the Company's go-to-market motion, can you walk us through how you organized what sorts of verticals you go after and what that structure looks like? Have you made any changes to it lately? It's an area near and dear to my heart.

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Sure. Yes, great stuff. The competitive landscape, what's that like these days for you? I mean, I'm sure you -- with your global reach, there's probably not a ton of head-to-head competitors. And you run into different competitors, different verticals. How does that play out?

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Yes, the new entrants from lower cost launches and all and going after the LEO seemed like they're not focused on what you guys do.

Question: Ryan Koontz - Needham & Company, LLC - Analyst : The lines are blurring, it seems like. 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 10, 2022 / 7:45PM, IRDM.OQ - Iridium Communications Inc at Needham Growth Conference (Virtual)

Question: Ryan Koontz - Needham & Company, LLC - Analyst : But your competitive moat seems pretty strong there from -- especially in the IoT space, without a doubt.

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Great. I had a question come in from the audience here quite fast about Aireon. And what are some of the milestone dates that you can relay there in terms of where the company is in their evolution, and looking forward this year, what are some of their objectives?

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Yes. Great stuff. On the pricing front, any changes there in terms of how you're thinking about pricing for value and different applications? What's your general approach there in terms of working with your different partners?

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Supply chain.

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Yes, I'm sure the kind of solution-selling partners is really critical fully in all kinds of interesting and new applications that are evolving all the time.

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Yes. Is location the number one application that people bump into? 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 10, 2022 / 7:45PM, IRDM.OQ - Iridium Communications Inc at Needham Growth Conference (Virtual)

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Right. And from a software capability, that's something that you continue to evolve in terms of what you do with that data or are you purely moving bits? Do you look at all into kind of adding more value to the bits you're collecting, so that you can give more?

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Yes. And as you look forward at your company over the next, say, five years, you've got fixed satellite bleeds. I mean, there's not a whole lot -- you're not looking at a whole lot of disruption. It really is a mature modestly growing market.

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Your terrestrial network, you're talking about? 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 10, 2022 / 7:45PM, IRDM.OQ - Iridium Communications Inc at Needham Growth Conference (Virtual)

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Yes.

Question: Ryan Koontz - Needham & Company, LLC - Analyst : That should be music to a lot of investors' ears, given the --

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Awesome. Well, appreciate you joining me. Any last words you want to part with, Matt?

Question: Ryan Koontz - Needham & Company, LLC - Analyst : I would like that, too.

Question: Ryan Koontz - Needham & Company, LLC - Analyst : Love it. Well, thanks for joining. Really appreciate.