Iridium (IRDM) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
Rocket Lab is buying Iridium Communications in an $8 billion cash-and-stock deal – equipping the rocket maker with a global satellite network and wireless spectrum that could help it compete with Elon Musk's SpaceX.
Rocket Lab and Iridium Communications plan to combine—and both companies' shareholders like the deal.
Launch company Rocket Lab is buying satellite operator Iridium, putting it in a position to become a more full-fledged space services company, and continuing a wave of consolidation in the industry.
Space stocks are catching a bid Monday morning after Rocket Lab (NASDAQ:RKLB | RKLB Price Prediction) unveiled a definitive agreement to acquire Iridium Communications (NASDAQ:IRDM) in a cash-and-stock deal carrying an enterprise value of approximately $8 billion.
The deal would give Rocket Lab control over a satellite fleet and access to wireless resources it could use to compete with SpaceX.
Rocket Lab stock advances after the company announces a deal to buy Iridium Communications.
Iridium launches the 9604 Hybrid IoT Module, blending satellite, LTE-M and GNSS connectivity in a compact design built for remote deployments.
Iridium Communications is upgraded to Hold as catalysts emerge, despite a 135% stock rally since the prior Sell rating. Q1 2026 results were weak: revenue up 2%, OEBITDA down 4.8%, and EPS down 26%, with commercial IoT as the primary growth driver. IRDM stock surge was driven by insider buying, institutional accumulation, and the SITH contract extension, not fundamental outperformance.
IRDM misses Q1 2026 EPS estimates despite steady service revenue growth, as IoT demand and strategic investments shape its 2026 outlook.
Iridium Communications Inc. (IRDM) Q1 2026 Earnings Call Transcript
While the top- and bottom-line numbers for Iridium (IRDM) give a sense of how the business performed in the quarter ended March 2026, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.