PARIS — Life has never been better for mobile satellite service provider Iridium Communications. Revenue and EBITDA were up in 2021, capex is way down, as predicted now that the Iridium Next constellation in low Earth orbit has been deployed.
Operating cash flow in 2021 was up 21%, to $302.9 million.
Leverage is down and the company is in the midsts of repurchasing up to $300 million in stock. Maritime and air traffic are rebounding, and the company’s nearly cost-free IoT play is expanding.
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