Iridium Communications Inc. (NASDAQ:IRDM) is a leading satellite provider of mobile voice and data communications services, and the only commercial provider offering true global coverage. With successful deployment of its NEXT satellites into orbit, Iridium reduced execution, growth, and liquidity risks. The stock came under pressure due to extended renewal discussions with its largest customer, the Department of Defense. By leveraging the new platform, we expect Iridium to launch new services, capture market share, and benefit from its growing hosted solutions businesses.
From Ron Baron (Trades, Portfolio)'s Baron Growth Fund second-quarter 2019 shareholder commentary.
This article first appeared on GuruFocus.
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