Can Iridium (IRDM) Turn Hyundai’s IoT Deal and New Board Hire Into Durable Service-Margin Strength?

• In early December 2025, Iridium Communications declared a US$0.15 per share cash dividend payable on December 31 and added experienced telecom and cloud executive Louis Alterman to its expanded 12-member board, while HD Hyundai Construction Equipment selected Iridium to power global satellite connectivity for its Hi MATE remote fleet management system.
• Together, the Hyundai partnership and governance changes highlight Iridium’s push deeper into industrial IoT and enterprise mobility, potentially reinforcing its recurring, high-margin service focus while broadening its customer base beyond traditional satellite communications users.
• Next, we’ll examine how the HD Hyundai Hi MATE IoT connectivity deal could reshape Iridium’s investment narrative and long-term growth assumptions.

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Iridium Communications Investment Narrative Recap

To own Iridium, you need to believe that its global L-band network can keep converting niche satellite demand into sticky, recurring IoT and mission critical service revenue. The HD Hyundai Hi MATE win supports that IoT pillar, while the new dividend and board additions do not meaningfully change the key near term swing factor, which remains whether IoT growth can reaccelerate amid rising direct to device competition.

Among the latest announcements, HD Hyundai Construction Equipment’s decision to embed Iridium into its Hi MATE remote fleet management platform looks most relevant, because it speaks directly to the IoT growth story that underpins many bullish theses. If more industrial OEMs adopt Iridium for remote monitoring and telematics, that could help offset softer trends in legacy maritime ARPU and uneven PNT service uptake.

Yet, even as Iridium deepens its IoT reach, investors should be aware that intensifying direct to device and satellite competitors could...

Read the full narrative on Iridium Communications (it's free!)

Iridium Communications' narrative projects $982.9 million revenue and $174.8 million earnings by 2028. This requires 4.7% yearly revenue growth and about a $61.6 million earnings increase from $113.2 million today.

Uncover how Iridium Communications' forecasts yield a $29.75 fair value, a 59% upside to its current price.

Exploring Other Perspectives

Seven members of the Simply Wall St Community currently value Iridium in a wide US$25 to about US$65 per share range, underscoring just how far opinions can differ. Against that backdrop, the HD Hyundai IoT win speaks directly to the growth pillar many are banking on, but it also heightens the importance of tracking whether IoT revenue momentum actually improves from here.

Explore 7 other fair value estimates on Iridium Communications - why the stock might be worth just $25.00!

Build Your Own Iridium Communications Narrative

Disagree with existing narratives? Create your own in under 3 minutes - extraordinary investment returns rarely come from following the herd.

• A great starting point for your Iridium Communications research is our analysis highlighting 3 key rewards and 1 important warning sign that could impact your investment decision.
• Our free Iridium Communications research report provides a comprehensive fundamental analysis summarized in a single visual - the Snowflake - making it easy to evaluate Iridium Communications' overall financial health at a glance.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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