The IoT market is entering a new growth phase as demand for reliable connectivity in remote areas increases. Recognizing this opportunity, Iridium Communications Inc. IRDM has commercially launched its new Iridium 9604 Hybrid IoT Module and accompanying Development Kit. The solution combines Iridium Short Burst Data (SBD) satellite connectivity, LTE-M cellular communications and GNSS positioning into a compact platform, allowing IoT devices to transition between terrestrial and satellite networks seamlessly.
A key component of the 9604 is its compact design. At just 16 mm × 26 mm × 2.4 mm, the module reportedly reduces board space requirements by 60% or more compared to traditional multi-component architectures. This smaller footprint offers lower manufacturing costs, reduced complexity, simplified RF routing, easier power management and faster hardware validation. For IoT device manufacturers, these efficiencies can translate into cost savings while shortening development cycles. Iridium built the 9604 on the proven u-blox SARA-R5 platform, combining established cellular capabilities with its global satellite network.
The company has been known primarily for satellite-only communications. With this release, Iridium is embracing hybrid connectivity, recognizing that future IoT deployments will increasingly combine multiple communication technologies. The broader ecosystem now includes traditional Iridium SBD modules, the new Iridium 9604 hybrid module, Iridium NTN DirectSM direct-to-device capabilities and the higher-bandwidth Iridium Certus 9704 platform. This diversified portfolio positions Iridium to serve a wider range of IoT use cases, from low-power sensors to bandwidth-intensive industrial applications.
If Iridium executes effectively and continues expanding its ecosystem, the 9604 Hybrid IoT Module could strengthen its competitive edge and position it to capture a larger share of the rapidly growing global IoT market.
How Competitive is the Evolving Satellite Market for IRDM?
Globalstar, Inc. GSAT satellite connectivity platform is poised to support asset tracking, remote monitoring and autonomous operations in areas with limited infrastructure. It continues to benefit from expanding opportunities in government, defense and large-scale IoT deployments, supported by demand for small size, weight, power and cost (SWaP-C) technologies. Its upcoming C-3 constellation of more than 50 satellites is expected to boost network capacity, reliability and support growing direct-to-device, IoT and enterprise connectivity demand. First-quarter service revenue rose 17%, driven by higher wholesale capacity services, growing Commercial IoT subscriptions and increased government-related revenue, while equipment sales increased 13% due to stronger demand for Commercial IoT and SPOT devices.
AST SpaceMobile ASTS has deployed an initial set of commercial satellites in low Earth orbit, branded BlueBird and continues to expand its launch campaign. These satellites support non-continuous service and have been used to validate voice and data capabilities directly to unmodified smartphones. Management expects BlueBird 8, BlueBird 9 and BlueBird 10 to be launched in mid-June on a Falcon 9 vehicle and stated that BlueBird 11 through BlueBird 33 are in advanced stages of production and assembly. The company continues to target roughly 45 satellites in orbit by the end of 2026 with launches expected every one to two months.
IRDM Price Performance, Valuation and Estimates
Shares of IRDM have gained 52.7% in a year compared with the Zacks Satellite and Communication industry’s growth of 217.5%.
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From a valuation standpoint, IRDM trades at a forward 12-month price-to-sales (P/S) of 5.14X, above the industry’s 3.06X.
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The Zacks Consensus Estimate for IRDM earnings for 2026 has been revised downward over the past 60 days.
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Iridium currently carries a Zacks Rank #3 (Hold).
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
