Iridium Communications Inc. (IRDM, Financial) is a leading mobile voice and datacommunications services vendor offering global coverage via satellite. Shares contributed on solid performance against all key growth initiatives. Iridium’s voice and Internet-of-Things segments remained strong while new product launches such as Certus 100 and 200 should support additional adoption of Iridium’s broadband solutions. Management is leveraging strong profitability to execute its shareholder-friendly capital allocation program with an acceleration of repurchasing activity.
From Ron Baron (Trades, Portfolio)'s Baron Focused Growth Fund first-quarter 2022 letter.
