Slowing growth. Shifting expectations. Strategic reset.
In our Q2 2025 earnings report, we examine Iridium’s mixed quarter: revenues and OEBITDA rose 8% and 6%, respectively, but slowing service momentum — particularly in maritime — prompted a downward revision to 2025 guidance.
 
We dissect the drivers behind the 22% stock drop, from IoT deceleration to delayed PNT revenue, and examine whether Iridium’s “three-pillar” strategy (IoT, PNT, NTN Direct) can reignite growth heading into 2026.
 
The report also trims 2026 forecasts and frames 2025 as a retooling year with long-term upside still intact.