Posted: Sat, Oct 25, 2025, 11:19 AM ET (1519 GMT)
Iridium is revising its financial forecasts because of competition from SpaceX in direct-to-device (D2D) services. The company said in earnings released Thursday that it expects 3% service revenue growth for 2025, down from 3-5% previously and well below its earlier 5-7% range. It has also withdrawn a target of reaching $1 billion in revenue by 2030. Iridium CEO Matt Desch said in an earnings call that SpaceX’s push into D2D services with its deal to acquire Echostar spectrum “will likely be disruptive to the status quo” and create new competition for Iridium. He said the company remains committed to making its satellite constellation compatible with 5G standards used by mass-market devices, enabling them to access messaging and alert services outside cellular coverage starting next year.

Related Links:

•  SpaceNews article
•  Iridium press release