IRDM Iridium Communications Inc

MCLEAN, Va., Oct. 15, 2024 /PRNewswire/ -- Iridium Communications Inc. (Nasdaq: IRDM), a leading provider of global voice and data satellite communications, today announced the Space Development Agency (SDA) has awarded the General Dynamics Mission Systems (GDMS) and Iridium team a $491.6 million contract modification in support of its Ground Management and Integration (GMI) program for the Proliferated Warfighter Space Architecture (PWSA). Of this amount, Iridium's share has a value of $239 million over five years. This award follows an initial Operations and Integration Contract award in 2022 to build ground entry points and operations centers and manage network operations and systems integration services.

"We are committed to delivering SDA and our warfighters an innovative and effective ground system that leverages the many years of Iridium's unparalleled commercial LEO development and operations expertise, helping to ensure they are prepared for the challenges of today and the future," said Scott Scheimreif, executive vice president, government programs, Iridium. "Iridium is excited to be part of this groundbreaking SDA program with our partner General Dynamics Mission Systems."

With over 20 years of experience operating a crosslinked low-Earth orbit (LEO) satellite constellation, Iridium is the pre-eminent leader in commercial satellite communications network management. This unique expertise which includes ground segments, orbital operations and space sustainability leadership, is dedicated to supporting the SDA's efforts to integrate innovative commercial strategies that help the United States quickly deploy the most effective space technologies available in support of the warfighter. Through this new contract modification, the GDMS-Iridium team will deliver a forward-compatible, state-of-the-art ground system developed in close partnership with SDA and related stakeholders. The companies will manage integration of the ground enterprise with SDA's Tranche 2 constellation. This includes all required services ranging from engineering design and analysis to testing, maintenance, infrastructure management and site support.

For more information about the PWSA and SDA visit: https://www.sda.mil

To learn more about Iridium visit: https://www.iridium.com

About Iridium Communications Inc. 

Iridium^® is the only mobile voice and data satellite communications network that spans the entire globe. Iridium enables connections between people, organizations, and assets to and from anywhere, in real time. Together with its ecosystem of partner companies, Iridium delivers an innovative and rich portfolio of reliable solutions for markets that require truly global communications. In 2024, Iridium acquired Satelles, Inc. and announced the Iridium Satellite Time and Location service. Iridium Communications Inc. is headquartered in McLean, Va., U.S.A., and its common stock trades on the Nasdaq Global Select Market under the ticker symbol IRDM. For more information about Iridium products, services, and partner solutions, visit www.iridium.com. 

Forward-Looking Statements Disclosure

Statements in this press release that are not purely historical facts may constitute forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The Company has based these statements on its current expectations and the information currently available to us. Forward-looking statements in this press release include statements regarding the value of the contract award and the capabilities of the SDA network. Forward-looking statements can be identified by the words "anticipates," "may," "can," "believes," "expects," "projects," "intends," "likely," "will," "to be" and other expressions that are predictions or indicate future events, trends or prospects. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Iridium to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, uncertainties regarding U.S. government procurement and development of the SDA network, as well as general industry and economic conditions, and competitive, legal, governmental and technological factors. Other factors that could cause actual results to differ materially from those indicated by the forward-looking statements include those factors listed under the caption "Risk Factors" in the Company's Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission (the "SEC") on February 15, 2024, and the Company's Form 10-Q for the quarter ended June 30, 2024, filed with the SEC on July 23, 2024, as well as other filings Iridium makes with the SEC from time to time. There is no assurance that Iridium's expectations will be realized. If one or more of these risks or uncertainties materialize, or if Iridium's underlying assumptions prove incorrect, actual results may vary materially from those expected, estimated or projected. Iridium's forward-looking statements speak only as of the date of this press release, and Iridium undertakes no obligation to update forward-looking statements.

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SOURCE Iridium Communications Inc.