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We provide voice and data communications services to businesses, the U.S.
−Removed: and foreign governments, non-governmental organizations, and consumers via our satellite network, which has an architecture of 66 operational satellites with in-orbit and ground spares and related ground infrastructure.
+Added: and foreign governments, non-governmental organizations, and consumers via our satellite network, which has an architecture of 66 operational satellites with in-orbit spares and related ground infrastructure.
We utilize an interlinked mesh architecture to route traffic across our satellite constellation using radio frequency crosslinks between satellites.
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In addition to supporting new products with higher data speeds, it also hosts the Aireon ® system, which provides a global air traffic surveillance service through a series of automatic dependent surveillance-broadcast, or ADS-B, receivers on our satellites.
−Removed: We formed Aireon LLC in 2011, with subsequent investments from the air navigation service providers, or ANSPs, of Canada, Italy, Denmark, Ireland and the United Kingdom, to develop and market this service.
−Removed: Aireon has contracted to provide the service to our co-investors in Aireon and to other ANSPs around the world.
+Added: We formed Aireon LLC in 2011, with subsequent investments from several air navigation service providers, or ANSPs, to develop and market this service.
+Added: Aireon has contracted to provide surveillance and other services to ANSPs and other customers around the world.
Aireon has also contracted to pay us a fee to host the ADS-B receivers on our satellites, as well as data service fees for the delivery of the air traffic surveillance data over the Iridium system.
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We have also seen growing adoption of our services to support autonomous systems, for which Iridium is used for command and control, image transmission and environmental data gathering via unmanned aerial, underwater and surface vehicles.
−Removed: Iridium Certus ® provides a platform for our partners to
−Removed: develop specialized broadband and midband (a term we use to describe services between our legacy 2.4 Kbps narrowband and our 128 Kbps and higher broadband offerings) applications on our network.
+Added: Iridium Certus ® provides a platform for our partners to develop specialized broadband and midband (a term we use to describe services between our legacy 2.4 Kbps narrowband and
+Added: our 128 Kbps and higher broadband offerings) applications on our network.
With broadband services provided for the maritime and land-mobile industries and a midband service designed for maximum mobility, Iridium Certus offers the flexibility to scale device speeds, sizes and power requirements both up and down based on the needs of the end-user.
We expect that these and future Iridium Certus service offerings will continue to drive growth opportunities in our commercial business.
−Removed: In January 2023, we announced that we entered into an agreement with Qualcomm Technologies, Inc.
−Removed: to enable satellite messaging and emergency services in smartphones powered by Qualcomm’s Snapdragon ® Mobile Platforms.
−Removed: This agreement is aimed to support our satellite services in a variety of smartphone brands and has the potential to expand our services to other consumer devices in the future.
government, directly and indirectly, has been and continues to be our largest single customer, generating $196.1 million in service and engineering and support service revenue, or 25% of our total revenue, for the year ended December 31, 2023.
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government agencies that are provided through our commercial gateway, as we lack specific visibility into these activities and the related revenue.
−Removed: We are operating under a multi-year, fixed-price contract with the U.S.
+Added: We operate under a multi-year, fixed-price contract with the U.S.
government, which we refer to as our Enhanced Mobile Satellite Services, or EMSS, contract to provide specified satellite airtime services for an unlimited number of U.S.
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At December 31, 2023, we had approximately 2,279,000 billable subscribers worldwide, representing a 14% increase compared to December 31, 2022.
−Removed: Total revenue increased from $614.5 million in 2021 to $721.0 million in 2022.
+Added: Total revenue increased from $721.0 million in 2022 to $790.7 million in 2023, representing a 10% increase.
We compete primarily in the mobile satellite services sector of the global communications industry.
Mobile satellite services operators provide voice and data services to people and machines using a network of satellites and ground facilities.
−Removed: Mobile satellite services are intended to meet users’ needs for connectivity in all locations where terrestrial wireless and wireline communications networks do not exist, do not provide sufficient coverage, or are impaired, including rural and developing
−Removed: areas that lack adequate wireless or wireline networks, airways, ocean and polar regions where few alternatives exist, and regions where the telecommunications infrastructure has been affected by political conflicts or natural disasters.
+Added: Mobile satellite services are intended to meet users’ needs for connectivity in all locations where terrestrial wireless and wireline communications networks do not exist, do not provide sufficient coverage, or are impaired, including rural and developing areas that lack adequate wireless or wireline networks, airways, ocean and polar regions where few alternatives exist, and regions where the telecommunications infrastructure has been affected by political conflicts or natural disasters.
Government organizations, including military and disaster response agencies, non-governmental organizations, and industrial operations and support teams depend on mobile and fixed voice and data satellite communications services on a regular basis.
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We believe that growth in the terrestrial wireless industry has increased awareness of the need for reliable mobile voice and data communications services.
−Removed: In addition, despite significant penetration and competition, terrestrial wireless systems do not cover a large majority of the earth’s surface and are focused mainly in those areas where people live, excluding oceans and other remote regions where ships, airplanes and other remote assets may travel or be located.
+Added: In addition, despite significant penetration and competition, terrestrial wireless systems do not cover a large majority of the earth’s surface and are focused mainly in those areas where people live, excluding oceans and other remote regions where ships, airplanes and other remote assets may be.
By offering mobile communications services with global voice and data coverage, mobile satellite service providers address the demand from businesses, governments and individuals for connectivity and reliability in locations not consistently served by wireline and wireless terrestrial networks.
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By contrast, mobile satellite services providers, such as us, focus more on voice and data services, where mobility and small-sized terminals are essential.
−Removed: Other mobile satellite service providers include Globalstar, Inc., ORBCOMM Inc., and in some portions of their businesses, Inmarsat Global Limited and new entrants such as Space Exploration Technology Corp.’s (SpaceX) Starlink and OneWeb Holdings Limited.
+Added: Other mobile satellite service providers include Globalstar, Inc., ORBCOMM Inc., and in some portions of their businesses, Viasat Inc.
+Added: (following its acquisition of Inmarsat Global Limited) and new entrants such as Space Exploration Technology Corp.’s (SpaceX) Starlink and OneWeb Holdings Limited.
LEO systems, such as the one we operate, generally have lower transmission delays, or latency, than GEO systems, due to the shorter distance signals have to travel, which also enables the use of smaller antennas on mobile devices.
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Our unique satellite constellation provides true global and weather-resilient coverage, which enables our Iridium Certus platform offerings and empowers the development of a range of new global products and services, as well as supporting Aireon’s aircraft tracking service and other hosted payload missions.
−Removed: Our network design of 66 operational satellites uses an interlinked mesh architecture to transmit signals from satellite to satellite, which reduces the need for multiple local ground stations around the world and facilitates the global reach of our services.
+Added: design of 66 operational satellites uses an interlinked mesh architecture to transmit signals from satellite to satellite, which reduces the need for multiple local ground stations around the world and facilitates the global reach of our services.
Many of our competitors use GEO satellites, which orbit above the earth’s equator, limiting their visibility to far northern or southern latitudes and polar regions.
−Removed: LEO satellites from operators like Globalstar and ORBCOMM use an architecture commonly referred to as “bent pipe,” which requires voice and data transmissions to be immediately routed to ground stations in the same region as the satellite and can only provide real-time service when they are within view of a ground station, limiting coverage to areas near where they have been able to license and locate ground infrastructure.
+Added: Some LEO satellites without crosslink architecture from operators like Globalstar and ORBCOMM use an architecture commonly referred to as “bent pipe,” which requires voice and data transmissions to be immediately routed to ground stations in the same region as the satellite and can only provide real-time service when they are within view of a ground station, limiting coverage to areas near where they have been able to license and locate ground infrastructure.
The LEO design of our satellite constellation produces minimal voice and data transmission delays compared to GEO systems due to the shorter distance our signals have to travel, and LEO systems typically have smaller antenna and power requirements.
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• Attractive and growing markets.
−Removed: We believe that mobile satellite services will continue to experience growth driven by the increasing awareness of the need for reliable mobile voice and data communications services, the lack of coverage of most of the earth’s surface by terrestrial wireless systems, the continued development of the IoT, and the continued development of other innovative, lower-cost technology, such as applications integrating mobile satellite products and services into other devices, including embedding satellite capability into terrestrial smartphones.
+Added: We believe that mobile satellite services will continue to experience growth driven by the increasing awareness of the need for reliable mobile voice and data communications services, the lack of coverage of most of the earth’s surface by terrestrial wireless systems, the continued development of the IoT, and the continued development of other innovative, lower-cost technology, such as applications integrating mobile satellite products and services into other devices, including embedding standards-based satellite technology in smartphones and IoT devices.
Only satellite providers can offer global coverage, and developing a satellite network requires significant financial investment, as well as technological and regulatory challenges.
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We believe that service revenue will continue to be our largest source of future growth and profits, and we intend to focus on growing both our commercial and government service revenue in order to leverage our largely fixed-cost infrastructure.
−Removed: In particular, we believe that competitive broadband, midband and narrowband data services through
−Removed: Iridium Certus and satellite IoT services, where we are engaging large, global enterprises as long-term customers for data and telematics solutions, represent our greatest opportunities for service revenue growth.
+Added: In particular, we believe that competitive broadband, midband and narrowband data services through Iridium Certus and satellite IoT services, where we are engaging large, global enterprises as long-term customers for data and telematics solutions, represent our greatest opportunities for service revenue growth.
• Expand our target markets through the development of new products and services.
−Removed: We believe that we can expand our target markets by developing and offering a broader range of products and services, including a wider array of cost-effective and competitive broadband, midband, safety services, and IoT data services using Iridium Certus technology to complement and expand on our existing narrowband services.
−Removed: Iridium Certus is a multi-service platform that can deliver a range of services, from voice to a high-throughput L-band data connection, at a range of competitive price points, data speeds, and terminal dimensions to meet an expanding set of customer requirements.
−Removed: For example, during 2022, we introduced Iridium Messaging Transport SM (IMT SM ), a two-way, cloud-native networked data service optimized for use over Iridium Certus and designed to make it easier to add satellite connections to existing or new IoT solutions.
+Added: We believe that we can expand our target markets by developing and offering a broader range of products and services, including a wider array of cost-effective and competitive broadband, midband, safety services, and IoT data services using our proprietary Iridium Certus technology to complement and expand on our legacy narrowband services.
+Added: Iridium Certus is a multi-service technology platform that can deliver a range of services, from voice to a high-throughput L-band data connection, at a range of competitive price points, data speeds, and terminal dimensions to meet an expanding set of customer requirements.
+Added: Beyond Iridium Certus technology, we also plan to expand our target markets by adding in a standards-based IoT solution.
+Added: For example, during 2024, we announced Project Stardust, which is what we call our new, multi-year project to develop standards-based Narrowband-Internet of Things (NB-IoT) and Non-Terrestrial Network (NB-NTN) messaging and SOS capabilities for smartphones, tablets, cars and related consumer applications.
• Accelerate the development of personal communications capabilities .
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® and Iridium GO!
−Removed: exec TM devices or a variety of personal communication devices from VAMs and VARs like Garmin.
+Added: exec ® devices or a variety of personal communication devices from VAMs and VARs like Garmin.
We are making our technology more accessible and cost-effective for our distribution partners to integrate by licensing our core technologies;
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and by developing new services that take advantage of the capabilities of our global constellation.
−Removed: For example, in January 2023, we announced a new agreement with Qualcomm to enable satellite messaging and emergency services in smartphones.
• Continued growth in services provided to the U.S.
−Removed: Under our EMSS contract, we provide Iridium airtime services, including unlimited global standard and secure voice, paging, fax, Short Burst Data ® , Iridium Burst ® , RUDICS and DTCS services for an unlimited number of DoD and other federal government subscribers.
−Removed: The fixed-price rate for the current year of the EMSS contract is $106 million, with increases thereafter up to $110.5 million for the final contract year ending in September 2026.
+Added: Under our EMSS contract, we provide Iridium airtime services, including unlimited global standard and secure voice, paging, fax, Short Burst Data ® , or SBD ® , Iridium Burst ® , Router-Based Unrestricted Digital Interworking Connectivity Solutions (or RUDICs) and DTCS services for an unlimited number of DoD and other federal government subscribers.
+Added: The fixed-price annual rate of the EMSS contract through September 2024 is $106 million, with increases thereafter up to $110.5 million for the final contract year ending in September 2026.
Other services such as Iridium Certus and Satellite Time and Location provide us with opportunities to offer new products and services to the U.S.
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• C ontinue to support Aireon in the execution of its business plan .
−Removed: Aireon, which we formed in 2011, is our primary hosted payload customer.
−Removed: Aireon received subsequent investments from five ANSPs:
−Removed: NAV CANADA, Enav (Italy), NATS (United Kingdom), Naviair (Denmark) and the Irish Aviation Authority.
+Added: Aireon, which we formed in 2011, with subsequent investments from five ANSPs, is our primary hosted payload customer.
Aireon developed an ADS-B receiver payload that is hosted on our satellites and gathers ADS-B position information from aircraft to provide a global air traffic surveillance service.
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These distributors sell our products and services to end users, either directly or indirectly through service providers, VARs or dealers.
−Removed: Of these distributors, 58 sell primarily to U.S.
+Added: Of these distributors, over 53 sell primarily to U.S.
and international government customers.
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We provide our distributors with support services, including assistance with coordinating end user sales and marketing, strategic planning and training, and second-tier customer support, as well as helping them market our products and services and respond to new business opportunities.
−Removed: We have representatives covering three regions around the world to better manage our
−Removed: distributor relationships:
+Added: We have representatives covering three regions around the world to better manage our distributor relationships:
the Americas, which includes North, South and Central America;
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and Europe, the Middle East, Africa and Russia.
−Removed: We have also established a global service program to provide portside service for our maritime customers at major ports worldwide.
+Added: We have also established a global service program to
+Added: provide portside service for our maritime customers at major ports worldwide.
In addition, we maintain various online management tools that allow us to communicate efficiently with our distributors and allow them to manage their customers’ Iridium devices from anywhere in the world.
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If our service providers or VARs provide our services through dealers, these dealers will often provide such services directly to the end user.
−Removed: Service providers typically purchase our most basic products and services, such as mobile voice services and related satellite handsets, and offer additional services such as voice mail.
+Added: Service providers typically purchase our most basic products and services, such as mobile voice services and related satellite handsets, and offer additional services such as voicemail.
Unlike service providers, our VARs typically focus more on data applications and provide a broader array of value-added services specifically targeted to the niche markets they serve, such as IoT, maritime, aviation and government markets, where high-use customers with specialized needs are concentrated.
−Removed: These VARs integrate our handsets, transceivers, high-speed data devices and Short Burst Data, or SBD ® , modems with other hardware and software to create packaged solutions for end users.
+Added: These VARs integrate our handsets, transceivers, high-speed data devices and SBD modems with other hardware and software to create packaged solutions for end users.
Examples of these applications include cockpit voice and data solutions for use by the aviation sector and voice, data and tracking applications for industrial customers, such as Caterpillar Inc., the DoD, and other U.S.
and foreign government agencies.
−Removed: Our service providers include satellite service providers such as Marlink AS, Applied Satellite Technology Limited and Network Innovations, as well as some of the largest telecommunications companies in the world, including Telstra Corporation Limited, KDDI Corporation and Singapore Telecommunications Limited.
−Removed: Our VARs include ARINC Incorporated, Blue Sky Network, LLC, Garmin Services Inc., Gogo Business Aviation LLC, Komatsu Ltd, Kore Telematics Inc., MetOcean Telematics Limited, NAL Research Corporation and Zunibal S.A.
+Added: Our service providers include satellite service providers such as Marlink AS, Applied Satellite Technology Limited and Network Innovations, as well as some of the largest telecommunications companies in the world, including Telstra Limited, KDDI Corporation and Singapore Telecommunications Limited (Singtel).
+Added: Our VARs include ARINC Incorporated, Beam Communications Pty Ltd., Blue Sky Network, LLC, Garmin Services Inc., Garmin International Inc., Gogo Business Aviation LLC, Komatsu Ltd, Kore Telematics Inc., MetOcean Telematics Limited, NAL Research Corporation, and Zunibal S.A.
We also sell our products to VAMs, who integrate our transceivers or chipsets into their proprietary hardware.
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As with our service providers and VARs, VAMs sell their products either directly or through other distributors, including some of our service providers and VARs.
−Removed: Our VAMs include Beam Communications Pty Ltd., Calamp Wireless Networks Corporation, Garmin Services Inc., Honeywell Global Tracking Limited and Qualcomm Technologies, Inc.
+Added: Our VAMs include Calamp Wireless Networks Corporation, Garmin Services Inc., Jacobs Technology, Inc., and Lars Thrane A/S.
In addition to VARs and VAMs, we maintain relationships with approximately 95 value-added developers, or VADs.
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We believe that working with VADs allows us to create new platforms for our products and services and increases our market opportunity while reducing our overall research and development, marketing, and support expenses.
−Removed: Our VADs include Pivotel Satellite Pty Ltd., Rockwell Collins Inc.
+Added: Our VADs include AeroAntenna Technology, Inc., AnsuR Technologies AS, ASIQ Pty Ltd.
+Added: Crib Gogh Ltd, Ocean and Coastal Environment Sensing Inc., Rockwell Collins Inc.
and two10degrees Limited.
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government gateway pursuant to our Gateway Maintenance and Support Services, or GMSS, contract managed by the U.S.
−Removed: This agreement, which became effective in April 2019, provides for a six-month base term and four one-year options, all of which have been exercised, for a total value of the contract to us of approximately $54 million.
+Added: This agreement, which became effective in April 2019, has a total contract value to us of approximately $60.4 million.
+Added: The GMSS contract has been extended through March 31, 2024, as we negotiate a renewal of the agreement.
In September 2019, we were also awarded a five-year indefinite-delivery/indefinite-quantity gateway evolution contract managed by the U.S.
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government gateway.
−Removed: This contract had an initial one-year base period and four one-year options, the first three of which have been exercised, with a value of up to $76 million to us over the five-year period.
+Added: This contract has a total contract value to us of $76 million.
+Added: We expect to renew this agreement prior to its expiration in September 2024.
In May 2022, the SDA awarded General Dynamics Mission Systems, with Iridium as a subcontractor, the SDA contract, to establish the ground Operations and Integration (O&I) segment for Tranche 1 of the PWSA.
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We expect to receive $202 million in revenue over the course of the contract’s seven-year term.
−Removed: Revenues from the SDA contract contributed to higher engineering and support service revenue in 2022, as well as associated expenses, than in 2021, and we expect that trend to continue in 2023.
+Added: Revenues from the SDA contract contributed to our higher engineering and support service revenue in 2023, as well as associated expenses, compared to the prior year, and we expect that higher level of revenues and expenses to continue throughout the life of the SDA contract.
government services, including engineering services, accounted for approximately 25% of our total revenue for the year ended December 31, 2023.
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government revenue includes airtime revenue derived from the EMSS contract and services provided through the GMSS contract, the gateway evolution contract, and other engineering and support contracts with the U.S.
+Added: government, primarily the SDA contract.
Pursuant to federal acquisition regulations, the U.S.
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Land mobile and aviation are the principal contributors to the revenue we report as commercial voice and data, while maritime is primarily reported in commercial broadband revenue.
−Removed: Since we introduced Iridium Certus broadband in January 2019, Iridium Certus services have accounted for an increasing portion of our revenue, and we expect that trend to continue.
Commercial Voice and Data and Commercial Broadband
−Removed: We offer commercial broadband services primarily in the land mobile, maritime, and aviation sectors, as well as commercial voice and data services.
+Added: We offer commercial voice and data and commercial broadband services primarily in the land mobile, maritime, and aviation sectors.
We separately report commercial Iridium Certus broadband revenue with Iridium OpenPort ® service revenue as commercial broadband revenue.
−Removed: Because there is considerable overlap in these sectors, we have combined our discussion of these revenue lines in this report, noting within the discussion where our broadband services contribute, particularly in maritime.
+Added: Because there is considerable overlap in these services, we have combined our discussion of these revenue lines in this report, noting within the discussion where our broadband services contribute, particularly in maritime.
We are the leading provider of mobile satellite communications services to the land mobile sector, providing handset services to areas not served or inconsistently served by existing terrestrial communications networks.
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and Iridium PTT services also contribute to the land mobile sector.
−Removed: We believe that demand for mobile communications devices operating outside the coverage of terrestrial networks, combined with our small, lightweight, durable handsets with true global coverage, will allow us to capitalize on growth opportunities among these users.
+Added: We believe that demand for mobile communications devices operating outside the coverage of terrestrial networks, combined with our small, lightweight, durable handsets with truly global coverage, will allow us to capitalize on growth opportunities among these users.
In addition, we believe Iridium Certus broadband land mobile units are attractive in this market, as the combination of price, speeds, equipment, reliability in various weather conditions, and durability of equipment addresses a distinct market need.
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• Voice and data :
−Removed: Multinational corporations in various sectors use our services for business telephony, email and data transfer services, location-based services, broadband and to provide telephony services for employees in areas inadequately served by terrestrial networks.
+Added: Multinational corporations in various sectors use our services for business telephony, email and data transfer services, location-based services, and broadband for employees in areas inadequately served by terrestrial networks.
Oil and gas and mining companies, for example, provide their personnel with our equipment solutions while surveying new drilling and mining opportunities and while conducting routine operations in remote areas that are not served by terrestrial wireless communications networks.
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The Thales MissionLINK terminal, the first Iridium Certus offering in the land mobile area, allows rapid deployment and on-the-move communications, location tracking and telemetry.
−Removed: During 2021, we also introduced Iridium Certus midband service for our commercial and government land mobile customers.
+Added: In 2022 and 2023, several VAMs introduced products supporting midband capabilities for land-based applications including remote monitoring, business continuity, and fleet management.
• Mobile and remote office connectivity :
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• Public safety and disaster relief :
−Removed: Relief agencies, such as FEMA, and other agencies, such as the Department of Homeland Security, use our products and services in their emergency response plans, particularly in the aftermath of natural disasters such as the volcanic eruption in Tonga in 2022, hurricanes - most recently Ian and Nicole in 2022, and earthquakes in Haiti in 2021 and the Mexico City area in 2017.
+Added: Relief agencies, such as FEMA, and other agencies, such as the Department of Homeland Security, use our products and services in their emergency response plans, particularly in the aftermath of natural disasters such as the California and Maui wildfires in 2023, the volcanic eruption in Tonga in 2022, Hurricanes Ian and Nicole in 2022, and earthquakes in Haiti in 2021 and the Mexico City area in 2017.
These agencies generate significant demand for both our voice and data products, especially in advance of the hurricane season in North America.
−Removed: Further, many enterprises and governments include mobile satellite services such as ours as part of their PACE plan (Primary/Alternate/Contingency/Emergency), to maintain communications continuity in case of terrestrial communication network outages.
+Added: Further, many enterprises and governments include mobile satellite services such as ours as part of their PACE (Primary/Alternate/Contingency/Emergency) plan, to maintain communications continuity in case of terrestrial communication network outages.
• Public telephone infrastructure :
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To take advantage of this, from time to time, we may offer promotions or rebates to accelerate new customer acquisitions and solidify this expected long-term revenue stream.
−Removed: We believe demand for higher-speed, low-cost data services will allow us to capitalize on opportunities in this market.
−Removed: We believe Iridium Certus, which offers data speeds of up to 704 Kbps, presents a superior communication solution to L-band users in the maritime market.
−Removed: We expect this offering to increase the addressable market for our maritime services.
+Added: We believe Iridium Certus, which offers data speeds of up to 704 Kbps, presents a compelling communication solution for L-band users in the maritime market.
+Added: Iridium Certus has been increasingly installed on oceangoing vessels as a companion to Ku-band Very Small Aperture Terminal, or VSAT, and new Non-Geostationary Orbit, or NGSO, providers, and we have seen lower usage levels of those other providers on some vessels where we had previously been used as the primary communications service.
+Added: We expect additional offerings, such as the Iridium Certus 200 service, to increase the addressable market for our maritime services.
Maritime end users utilize our satellite communications services for the following:
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We believe the breadth of our Iridium Certus offerings provides attractively priced options for shipping operators and fishing fleets seeking increased functionality, as well as for yachts, work boats and other vessels for which traditional marine satellite systems have typically been costly and underperforming.
−Removed: In conjunction with our distributors, we also offer additional services that permit service providers and VARs to offer complete integrated solutions for prepaid calling, email and IP-based data communications.
+Added: In conjunction with our distributors, we also offer services that permit service providers and VARs to offer complete integrated solutions for prepaid calling, email and IP-based data communications.
For example, one of our distribution partners, Marlink Inc., has been integrating Iridium Certus with its miniature Very Small Aperture Terminal, or mini-VSAT SM , broadband service to provide companion connectivity when the mini-VSAT terminal is out of its coverage area or non-operational.
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Many fishing vessels are required by law to carry terminals using approved mobile satellite services for tracking purposes as well as to monitor catches and to ensure compliance with geographic fishing restrictions.
−Removed: European Union regulations, for example, require EU-registered fishing vessels of over 15 meters to carry terminals for the purpose of positional reporting of those vessels.
+Added: European Union (EU) regulations, for example, require EU-registered fishing vessels of over 15 meters to carry terminals for the purpose of positional reporting of those vessels.
Furthermore, new environmental regulations in some jurisdictions are expected to require monitoring of merchant vessels in territorial waters, which would provide an additional growth opportunity for us.
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The GMDSS is a maritime service built to alert a maritime rescue coordination center of each vessel’s situation and position, information that can then be used to coordinate search and rescue efforts among ships in the area.
−Removed: As part of the GMDSS service, navigational and meteorological information is distributed to vessels.
−Removed: The IMO requires all vessels flagged by signatories to the International Convention for the Safety of Life at Sea, or SOLAS, over 300 gross tons and certain passenger vessels, irrespective of size, that travel in international waters
−Removed: to carry distress and safety terminals that provide GMDSS services.
+Added: As part of the GMDSS service, navigational and meteorological information
+Added: is distributed to vessels.
+Added: The IMO requires all vessels flagged by signatories to the International Convention for the Safety of Life at Sea, or SOLAS, over 300 gross tons and certain passenger vessels, irrespective of size, that travel in international waters to carry distress and safety terminals that provide GMDSS services.
GMDSS service using our network became available in 2020, and our partners offer maritime terminals that include GMDSS service capabilities to vessel operators.
−Removed: We are one of the leading providers of mobile satellite communications services to the aviation sector.
+Added: We are one of the leading providers of mobile satellite communications services to the aviation sector, and we continue to see aviation as an area of potential revenue growth.
Our services are increasingly used in commercial and government aviation applications, principally by business jets, corporate and government helicopter fleets, specialized general aviation fleets, such as medevac companies and fire suppression fleets, and high-end personal aircraft.
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Avionics platforms that utilize our network are also retrofitted on thousands of corporate and commercial aircraft already in operation.
−Removed: The global aviation community was particularly affected by the COVID-19 pandemic but has largely recovered, and we continue to see aviation as an area of growth for us.
Aviation end users utilize our satellite communications services for:
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Companies such as Air Logistics, EagleMed and Air Evac Lifeteam rely on applications from our distributors for traditional voice communications, fleet tracking and management, and real-time flight diagnostics.
−Removed: VARs and VAMs such as Flightcell International Ltd., Garmin Services
−Removed: Inc., Honeywell International, Inc., SkyTrac and Spider Tracks Limited incorporate Iridium products and services into their applications for these markets.
+Added: VARs and VAMs such as Flightcell International Limited, Garmin
+Added: Services Inc., Honeywell International, Inc., SkyTrac Systems Limited, and Spider Tracks Limited incorporate Iridium products and services into their applications for these markets.
• Unmanned Aerial Vehicles (UAVs) :
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• Personal tracking devices and location-based services :
−Removed: Several of our VAMs and VARs, such as Garmin, ACR Electronics, and Zoleo, market small, portable devices that provide personal tracking and data communications services to consumers and commercial end users.
+Added: Several of our VARs, such as Garmin Services Inc., ACR Electronics, and Zoleo, Inc., market small, portable devices that provide personal tracking and data communications services to consumers and commercial end users.
In addition, Iridium GO!
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• Heavy equipment telematics:
−Removed: Large, global heavy equipment original equipment manufacturers, such as Caterpillar Inc., Komatsu Limited, Hitachi Construction Machinery Co.
−Removed: Ltd., Hyundai Doosan Infracore and AGCO Corporation, use our global IoT services to monitor their off-road heavy equipment in markets such as construction, mining, agriculture and forestry.
+Added: Large, global heavy equipment original equipment manufacturers, such as Caterpillar Inc., Komatsu Ltd, Hitachi Construction Machinery Co.
+Added: Ltd., Hyundai Doosan Infracore Co.
+Added: LTD and Appareo Systems LLC, use our global IoT services to monitor their off-road heavy equipment in markets such as construction, mining, agriculture and forestry.
• Fleet management :
Our global coverage permits our products and services to be used to monitor the location of vehicle fleets, hours of service and engine telemetry data, as well as to conduct two-way communications with drivers around the world.
−Removed: Fleet management companies, such as ID Systems, Mix Telematics, and Omnilink, use our service to provide distance drivers with reliable communications to their dispatchers and their destinations to coordinate changing business needs, and our satellite network provides continuous communications coverage while they are in transit.
+Added: Fleet management companies, such as I.D.
+Added: Systems, Mix Telematics International (Pty) Ltd, and Omnilink Tecnologia S/A, use our service to provide distance drivers with reliable communications to their dispatchers and their destinations to coordinate changing business needs, and our satellite network provides continuous communications coverage while they are in transit.
We expect that the need for more efficient, cost-effective and safer fleet operations, as well as the imposition of regulatory mandates related to driver safety, such as drive-time monitoring, will increase demand for our services in this area.
• Fixed-asset monitoring :
−Removed: Multinational corporations, such as oil-field service companies like Schlumberger Limited and ConocoPhillips Company, use our services to run applications that allow remote monitoring and operation of equipment and facilities around the globe, such as oil pipelines and offshore drilling platforms.
+Added: Multinational corporations, such as oil-field service companies like Schlumberger Limited and ConocoPhillips Company, use our services through one of our service providers to run applications that allow remote monitoring and operation of equipment and facilities around the globe, such as oil pipelines and offshore drilling platforms.
• Asset tracking :
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Companies and organizations that have fleets of vehicles use IoT solutions from Iridium distributors to improve the efficiency of their operations.
−Removed: For example, customers use Trimble Transportation’s solution to provide global communication to transportation assets, and the Department of Homeland Security Office of Enforcement and Removal uses Fleet Management Solutions’ IoT solution to transmit position, direction, speed and other data for management of its vehicle fleet.
+Added: For example, customers use Trimble Transportation’s solution to provide global communication to transportation assets, and the Department of Homeland Security’s Office of Enforcement and Removal uses Fleet Management Solutions’ IoT solution to transmit position, direction, speed and other data for management of its vehicle fleet.
• Resource management :
Our global coverage and data throughput capabilities support natural resource management applications, such as fisheries management systems.
−Removed: Three of our VARs—CLS, MetOcean Telematics and Rock Seven—have developed applications for the fishing industry that enable regulatory compliance of fishing practices in a number of countries around the world.
+Added: Three of our VARs—Collecte Localisation Satellites (CLS), MetOcean Telematics Limited and Ground Control Technologies UK Ltd —have developed applications for the fishing industry that enable regulatory compliance of fishing practices in a number of countries around the world.
• Scientific data monitoring :
−Removed: The global coverage of our network supports many scientific data collection applications, including the Argo float program of the National Oceanographic and Atmospheric Administration, or NOAA, the Global Ocean Observation project Challenger, operated by Rutgers University, and anti-poaching programs run by the Smithsonian National Zoo & Conservation Institute, the Zoological Society of London, and Veterans Empowered to
−Removed: Protect African Wildlife, or VETPAW.
+Added: The global coverage of our network supports many scientific data collection applications, including the Argo float program of the National Oceanographic and Atmospheric Administration, or NOAA, the Global Ocean Observation project Challenger, operated by Rutgers University, and anti-poaching programs run by the
+Added: Smithsonian National Zoo & Conservation Institute, the Zoological Society of London, and Veterans Empowered to Protect African Wildlife, or VETPAW.
These programs rely on our IoT services to collect scientific data from buoys and ocean gliders located throughout the world’s oceans and from wildlife habitats for monitoring and analysis.
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Because the hosted payload revenues are based on a contractual commitment for the life of the Iridium constellation, we recognize revenue from these customers over the expected life of the system.
+Added: As described elsewhere in this report, in the fourth quarter of 2023 we updated our estimate of the useful life of our satellites, which resulted in an extension of that useful life from 12.5 years to 17.5 years.
In addition to access and usage fees in the vertical lines of business described above, we generate revenue from several ancillary services related to our core service offerings.
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At December 31, 2023, we had approximately 2,279,000 billable subscribers worldwide.
−Removed: Our principal services are mobile satellite services, including mobile voice and data services, high-speed data services, IoT services, hosted payload and other data services and engineering services.
+Added: Our principal services are mobile satellite services, including mobile voice and data services, IoT services, hosted payload and other data services and engineering services.
Sales of our commercial services collectively accounted for approximately 62% of our total revenue for the year ended December 31, 2023.
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Postpaid Mobile Voice and Data Satellite Communications Services
−Removed: We sell our mobile voice and data services to service providers and VARs who in turn offer such services to end users, either directly or indirectly through dealers, using various packaged solutions such as seasonal or annual plans with differing price levels that vary depending upon expected usage.
+Added: We sell our mobile voice and data services to service providers and VARs who in turn offer such services to end users, either directly or indirectly through dealers, using various packaged solutions such as seasonal or annual plans with differing price
+Added: levels that vary depending upon expected usage.
In exchange for these services, we typically charge service providers and VARs a monthly access fee per subscriber, as well as usage fees for airtime resources consumed by their respective subscribers.
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We also offer mobile voice services to service providers and VARs through prepaid plans.
−Removed: Service providers and VARs pay us in advance for defined blocks of airtime minutes with expiration periods in various configurations, ranging from 30 days to two years and can be extended by the purchase of additional e-vouchers up to a maximum of three or four years.
+Added: Service providers and VARs pay us in advance for defined blocks of airtime minutes with expiration periods in various configurations, generally ranging from 30 days to two years, but which can be extended by the purchase of additional e-vouchers up to a maximum of three or four years.
These services are then generally sold to subscribers in the form of prepaid e-vouchers and scratch cards that enable subscribers to use our services on a per-minute basis.
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We and our partners are also developing interoperability solutions for existing terrestrial land mobile radio systems, which will further extend the utility of the service.
−Removed: Broadband Data Services
−Removed: Our broadband data offering, Iridium Certus, was launched in January 2019.
−Removed: Iridium Certus is a suite of products and services enabled by our upgraded satellite constellation.
−Removed: Iridium Certus is a multi-service platform capable of offering higher quality voice, enterprise-grade broadband functionality, and safety and security services on a global basis.
−Removed: Iridium Certus is designed to support a variety of cost points, antenna types and data speeds ranging from midband to broadband speeds, currently available up to 704 Kbps.
−Removed: We have licensed the Iridium Certus technology to VAMs who have introduced products for the maritime and land mobile markets and are developing additional products for those markets and the aviation and government markets, as well as distribution partners for the Iridium Certus service in each of these vertical markets.
−Removed: We believe Iridium Certus provides a competitive, cost-effective and reliable range of services to the market, in standalone applications or as a complement to other wireless technologies for critical applications and safety services.
−Removed: We also continue to offer our legacy Iridium OpenPort services, which provides maritime, aviation and terrestrial users speeds of up to 134 Kbps and three independent voice lines.
−Removed: For our Iridium OpenPort service, we typically charge service providers monthly access fees and usage fees for airtime consumed by the respective subscribers for voice and data communications.
−Removed: We have discontinued the manufacture of the Iridium Pilot ® platform that supports Iridium OpenPort services and see many of these customers upgrading to Iridium Certus technology, which we expect to continue.
Internet of Things Services
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As with our mobile voice and data offerings, we typically charge service providers and VARs a monthly access fee per subscriber as well as usage fees for data used by their respective subscribers.
+Added: Broadband Data Services
+Added: Our broadband data offering, Iridium Certus, was launched in January 2019.
+Added: Iridium Certus is a suite of products and services enabled by our upgraded satellite constellation.
+Added: Iridium Certus is a multi-service platform capable of offering higher quality voice, enterprise-grade broadband functionality, and safety and security services on a global basis.
+Added: Iridium Certus is designed to support a variety of cost points, antenna types and data speeds ranging from midband to broadband speeds, currently available up to 704 Kbps.
+Added: We have licensed the Iridium Certus technology to VAMs who have introduced products for the maritime and land mobile markets and are developing additional products for those markets and the aviation and government markets, as well as distribution partners for the Iridium Certus service in each of these vertical markets.
+Added: We believe Iridium Certus provides a competitive, cost-effective and reliable range of services to the market, in standalone applications or as a complement to other wireless technologies for critical applications and safety services.
+Added: We also continue to offer our legacy Iridium OpenPort service, which provides maritime, aviation and terrestrial users speeds of up to 134 Kbps and three independent voice lines.
+Added: For this service, we typically charge service providers monthly access fees and usage fees for airtime consumed by the respective subscribers for voice and data communications.
+Added: We have discontinued the manufacture of the Iridium Pilot platform that supports Iridium OpenPort services, with those customers often upgrading to Iridium Certus technology.
Government Services
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government and which has been accredited by the National Security Agency, or NSA, to provide Type-1 encryption, enabling communications up to Top Secret from anywhere in the world.
−Removed: We offer a broad array of voice and data products for customers that work worldwide.
+Added: We offer a broad array of voice and data products that work worldwide.
In most cases, our devices or an antenna must be located outside and within view of a satellite to be able to access our network.
Satellite Handsets and Iridium GO!
−Removed: Our principal handset offerings are the Iridium 9555 and Iridium Extreme satellite handsets.
+Added: Our principal handset offerings are the Iridium 9555 and Iridium Extreme satellite phones.
We believe the industrial-strength design of these products is critical for customers, many of whom are located in the most inhospitable spots on the planet and require rugged and reliable communications equipment.
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An emergency response service provided by GEOS Travel Safety Group, or GEOS, is included with the purchase of the phone and airtime usage.
−Removed: The two-way emergency SOS button initiates a phone call and an emergency message via SMS to GEOS, which then coordinates with local emergency responders.
+Added: The two-way emergency SOS button initiates a voice call and an emergency text message via SMS to GEOS, which then coordinates with local emergency responders.
• Iridium Extreme PTT .
The Iridium Extreme PTT enhances the Iridium Extreme with an intelligently designed push-to-talk mode, expanded speakerphone, reinforced PTT button, and extended capacity battery.
−Removed: The user interface provides access to multiple communication services, including voice calling, SMS and SOS, allowing users to connect to a
−Removed: talkgroup located in up to 10 customer-defined geographic regions worldwide.
−Removed: The Iridium Extreme PTT weighs 9.5 ounces and offers up to 6.5 hours of talk time in phone mode and five hours of talk time in PTT mode.
+Added: The user interface provides access to multiple communication services, including voice calling, SMS and SOS, allowing users to connect to a talkgroup located in up to 10 customer-defined geographic regions worldwide.
+Added: The Iridium Extreme PTT weighs 9.5 ounces and offers up to 6.5 hours of talk time for voice calls and five hours of talk time while using PTT.
• Iridium GO!
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The Iridium GO!
−Removed: exec has a modernized, sleek design with built-in color touch screen and speakerphone for mobile office connectivity and WiFi for access from smartphones or laptops within a range of up to 100 feet.
+Added: exec has a sleek design with built-in color touch screen and speakerphone for mobile office connectivity and Wi-Fi for access from smartphones or laptops within a range of up to 100 feet.
The built-in battery provides up to 24 hours of standby and up to 6 hours of use.
We expect these devices to help us maintain our competitive position as premium offerings in the market due to their capabilities, mobility, reliability and global coverage.
−Removed: In addition to these devices, we offer variants of the Iridium 9555 handset and the Iridium Extreme handset that are qualified for sale to U.S.
+Added: In addition to these devices, we offer variants of the Iridium 9555 satellite phone and the Iridium Extreme satellite phone that are qualified for sale to U.S.
government customers.
Broadband Data Devices
−Removed: Iridium Certus terminals are specifically designed for the maritime, aviation, land mobile or government markets and ultimately will offer a variety of significantly enhanced data speeds and antenna types.
−Removed: Iridium Certus terminals provide enterprise-grade broadband functionality alongside high-quality voice capabilities that can be used on a global basis.
−Removed: Iridium Certus is designed to support a variety of cost points, antenna types and data speeds ranging from midband to broadband speeds currently available up to 704 Kbps.
+Added: Iridium Certus terminals are specifically designed for the maritime, aviation, land mobile or government markets and offer a variety of enhanced data speeds and antenna types.
+Added: Iridium Certus terminals provide enterprise-grade broadband data and high-quality voice capabilities that can be used on a global basis.
+Added: Iridium Certus is designed to support a variety of cost points, antenna types and data speeds ranging from midband to broadband up to 704 Kbps.
We have licensed the Iridium Certus technology to a group of VAMs who have introduced products for the maritime and land mobile markets and are developing additional products for those markets as well as the aviation and government markets.
−Removed: Iridium Certus is ideal for maritime operational and safety services.
−Removed: These terminals deliver the satellite communications technology that the industry demands, combining all the benefits of L-band with broadband and truly global coverage.
−Removed: Iridium Certus terminals offer superior connectivity for maritime customers whether used as a standalone service or as a companion to VSAT services.
+Added: Iridium Certus is designed for maritime operational and safety services, combining the benefits of L-band with broadband and truly global coverage.
+Added: Iridium Certus terminals offer reliable connectivity for maritime customers whether used as a standalone service or as a companion to VSAT services.
Our principal end users for Iridium Certus in the maritime market are merchant shipping, commercial fishing, large leisure vessels, and work boats.
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In addition, Intellian, a Korean maritime terminal manufacturer, introduced an Iridium Certus terminal to the market in 2020, and Thales introduced its VesseLINK 200 terminal, which uses our Iridium Certus 200 service, in 2021.
−Removed: Additional Iridium Certus 200 terminals are currently in development and are expected to be commercially available in 2023.
−Removed: In aviation, Iridium Certus will deliver critical safety services and in-flight communications.
+Added: Additional Iridium Certus 200 terminals were launched in 2023, including the Lars Thrane LT-4200, and our partners continue to develop additional products.
+Added: In aviation, Iridium Certus delivers critical safety services and in-flight communications.
Our principal targeted end users for Iridium Certus in the aviation market include commercial, corporate and government users, general aviation, rotorcraft and unmanned aircraft.
−Removed: The initial terminals in this sector are the Blue Sky Networks Skylink 7100, Honeywell Aspire 350, Collins IRT NX, and Skytrac SDL-350.
−Removed: A number of other VAMs have been licensed to create aviation terminals using Iridium Certus services as well.
−Removed: Additional Iridium Certus aviation products are expected to become commercially available in 2023.
−Removed: In the land mobile market, enterprises, governments, and individuals that want to maintain mobile IP and telephony connectivity for their operations while in remote areas without having to deploy ground-based infrastructure or expensive terminals utilize Iridium Certus.
+Added: Terminals certified in this sector include the Blue Sky Networks SkyLink 7100, Guardian Mobility G6, Atmosphere Planet 9770, Honeywell Aspire 350, Collins IRT NX, and Skytrac SDL-350.
+Added: A number of other VAMs have been licensed to create aviation terminals using Iridium Certus services, and we expect that additional Iridium Certus aviation products will become commercially available in 2024.
+Added: In the land mobile market, enterprises, governments, and individuals that want to maintain mobile IP and telephony connectivity utilize Iridium Certus for their operations while in remote areas without having to deploy ground-based infrastructure or expensive terminals.
Iridium Certus devices may be integrated with internet, cellular, land mobile radio, and location-based applications to keep users connected, offering global push-to-talk, situational awareness, email, messaging and voice-over-IP.
Our principal end users for Iridium Certus in the land mobile market are military users, rail, first responders, non-governmental organizations, oil and gas users, and remote fleets.
−Removed: Iridium offers Iridium Certus 100, Iridium Certus 200 and Iridium Certus 700 services, supporting a portfolio of broadband and midband terminals through our partners to provide a range of capabilities at various price points.
−Removed: Terminals that are approved for land mobile market include the Thales MissionLINK 700 and 200, BSN SkyLink 5100, NAL Research Quicksilver, and McQ CONNECT.
+Added: Iridium offers Iridium Certus 100, Iridium Certus 200 and
+Added: Iridium Certus 700 services, supporting a portfolio of broadband and midband terminals through our partners to provide a range of capabilities at various price points.
+Added: Terminals that are approved for the land mobile market include the Thales MissionLINK 700 and 200, BSN SkyLink 5100, NAL Research Quicksilver, and McQ CONNECT.
In the government market, Iridium Certus terminals provide beyond-line-of-sight communications critical to mission
−Removed: The initial terminal in this market is the Thales MissionLINK, with additional terminals expected in the near future.
−Removed: Our legacy terminal, the Iridium Pilot, provides up to three independent voice lines and an internet connection for data communications of up to 134 Kbps, using our Iridium OpenPort service.
−Removed: We have discontinued the manufacture of the Iridium Pilot terminal but still support the Iridium OpenPort service.
−Removed: With the introduction of the more powerful Iridium Certus terminals, we expect our distributors to focus on selling Iridium Certus and eventually upgrade many ships that have Iridium Pilot installed to Iridium Certus technology.
+Added: The initial terminal in this market is the Thales MissionLINK, with additional terminals expected in the future.
+Added: Our legacy broadband terminal, the Iridium Pilot, provides up to three independent voice lines and an internet connection for data communications of up to 134 Kbps, using our Iridium OpenPort service.
+Added: We have discontinued the manufacture of the Iridium Pilot terminal but still provide the Iridium OpenPort service.
+Added: With the introduction of the more powerful Iridium Certus terminals, we expect our distributors to focus on selling Iridium Certus and to eventually upgrade ships with Iridium Pilot to Iridium Certus technology.
Voice and Data Modems
−Removed: We also offer a combined voice transceiver and data modem, which our distributors integrate into a variety of communications solutions that are deployed in different applications around the world.
−Removed: Our principal offering in this space is the Iridium Core 9523 L-band transceiver, which utilizes the transceiver core of our Iridium Extreme satellite handset.
−Removed: The Iridium Core 9523 provides a small voice and data module that can be integrated with other components to create a modem tailored for typical VAM applications as well as specific applications, such as a dual-mode terrestrial radio and satellite phone or IoT applications that require more efficient data throughput through circuit-switched data transmission.
+Added: We also offer a combined voice transceiver and data modem, which our VAMs integrate into a variety of communications solutions that are deployed in different applications around the world.
+Added: Our offering in this category is the Iridium Core 9523 L-band transceiver, which utilizes the transceiver core of our Iridium Extreme satellite handset.
+Added: The Iridium Core 9523 is a small voice and data module that can be integrated with other components and allows our VAMs to design and build products, such as a dual-mode terrestrial radio and satellite phone or IoT applications that require more efficient data throughput via circuit-switched data transmission.
The Iridium 9523 PTT adds PTT capability, allowing development partners to design and build land mobile, fixed, aviation and maritime devices with Iridium PTT service.
−Removed: In the future, we expect our value-added partners to develop new products based on our Iridium Certus 9770 transceiver and other optimized midband devices.
+Added: We also offer the Iridium Certus 9770 transceiver, which provides Iridium Certus 100 service to our Iridium GO!
+Added: exec device and several devices offered by our value-added partners.
+Added: We expect our partners to continue to develop new products based on our Iridium Certus 9770 transceiver and other optimized midband devices.
Our principal customers for our L-band transceivers are VAMs and VARs, who integrate them into specialized devices that access our network.
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We provide gap-filler coverage for these applications, allowing users to operate anywhere on the globe.
−Removed: We also offer Iridium Burst, our one-to-many global data broadcast service, which enables enterprises to send data to an unlimited number of devices anywhere in the world, even inside buildings, vehicles or aircraft, and a suite of Iridium Edge ® finished IoT products designed to lower the barrier to adoption and speed time to market for customer applications.
+Added: In addition, several partners now offer products with Iridium Certus 9770 transceivers supporting Iridium Certus 100 service for IoT, including the SkyLink product from Blue Sky Networks and the RockREMOTE from Ground Control.
+Added: Iridium also offers a suite of Iridium Edge ® finished IoT products designed to lower the barrier to adoption and speed time to market for customer applications.
The Iridium Edge device is an off-the-shelf, environmentally sealed, rugged device that complements existing cellular solutions to create dual-mode connectivity for the most remote and inaccessible areas of the world, reducing the cost and complications associated with hardware development, manufacture and certification of satellite-specific terminals.
We also offer Iridium Edge Pro, a standalone IoT device that offers real-time GPS tracking capabilities, with a flexible programming platform that allows partners to create and run their own custom-made applications, and Iridium Edge Solar, a standalone, programmable, solar-powered device that offers real-time GPS tracking in a self-charging, low-maintenance unit with over-the-air configuration that allows partners to create distinct tracking applications.
−Removed: In addition, during 2021, several partners launched Iridium Certus midband solutions for IoT, including the SkyLink product from Blue Sky Networks and the RockREMOTE from Ground Control.
+Added: We also offer Iridium Burst, our one-to-many global data broadcast service, which enables enterprises to send data to an unlimited number of devices anywhere in the world, even inside buildings, vehicles or aircraft.
Device Development and Manufacturing
We contract with Cambridge Consulting Ltd.
−Removed: and other suppliers to develop our devices, with Benchmark Electronics Inc., or Benchmark, to manufacture most of our devices in a facility in Thailand, and with Hybrid Design Associates to manufacture a portion of our devices in the U.S.
−Removed: Pursuant to our contract with Benchmark, we may be required to purchase excess materials at cost plus a contractual markup if the materials are not used in production within the periods specified in the agreement.
−Removed: Benchmark generally repurchases the materials from us at the same price we paid, as required for the production of the devices.
−Removed: Our agreement with Benchmark is automatically renewable for additional one-year terms unless terminated by either party.
−Removed: We generally provide our distributors with a warranty on subscriber equipment for one year to 18 months from the date of activation, depending on the product.
+Added: and other suppliers to develop our devices, with Benchmark Electronics Inc., or Benchmark, to manufacture most of our devices in a facility in Thailand, and with Verigon to manufacture a portion of our
+Added: devices in the United States.
We also utilize other suppliers, some of which are the sole source, to manufacture some of the component parts of our devices.
−Removed: In addition to our principal products, we also offer a selection of accessories for our devices, including extended-life batteries, holsters, earbud headphones, portable auxiliary antennas, antenna adaptors, USB data cables and charging units, among others.
+Added: Pursuant to our contracts with Benchmark and Verigon, we may be required to purchase excess materials at cost plus a contractual markup if the materials are not used in production within the periods specified in the respective agreements.
+Added: Benchmark and Verigon generally repurchase the materials from us at the price we paid, as required for the production of the devices.
+Added: Our agreements with Benchmark and Verigon are automatically renewable for additional one-year terms unless terminated by either party.
+Added: We generally provide our distributors with a warranty on subscriber equipment for a period ranging from one year to 18 months from the date of activation, depending on the product.
+Added: In addition to our principal products, we also offer a selection of accessories for our devices, including extended-life batteries, holsters, earbud headphones, portable auxiliary antennas, antenna adaptors, USB data cables and charging units.
We purchase these products from several third-party suppliers either pursuant to contractual agreements or off the shelf at market prices.
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These distributors sell services directly or indirectly to end users, who may be located elsewhere.
−Removed: It is not possible for us to determine the geographical distribution of revenue from end users, as we do not contract directly with them.
+Added: It is not feasible for us to determine the geographical distribution of revenue from each end user, as we do not contract directly with them.
Substantially all of our revenue is invoiced in U.S.
−Removed: The table below sets forth the percentage of our revenue by country for the last three years.
+Added: The table below sets forth the percentage of our revenue from the United States and outside of the United States for the last three years.
+Added: No single country outside the United States represented more than 10% of our revenue for any of the periods indicated.
Year Ended December 31,
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45 % 48 % 46 %
−Removed: (1) No single country in this group represented more than 10% of our revenue for any of the periods indicated.
For more information about our revenue from sales to foreign and domestic customers, see Note 15 to our consolidated financial statements included in this annual report.
Traffic Originating Outside the United States
−Removed: A significant portion of our voice and data traffic originates outside the United States.
+Added: Most of our voice and data traffic originates outside the United States.
The table below sets forth the percentage of our commercial voice and data traffic originating outside the United States for the last three years.
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Commercial data traffic (kilobytes) 96 % 95 % 97 %
−Removed: Our satellite network has an architecture of 66 operational LEO satellites in six orbital planes of eleven vehicles each in nearly circular polar orbits, in addition to in-orbit spares and related ground infrastructure, as well as ground spares.
+Added: Our satellite network has an architecture of 66 operational LEO satellites in six orbital planes of eleven vehicles, each in nearly circular polar orbits, in addition to in-orbit spares and related ground infrastructure.
Our operational satellites orbit at an altitude of approximately 483 miles (778 kilometers) above the earth and travel at approximately 16,689 miles per hour, resulting in a complete orbit of the earth approximately every 100 minutes.
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These crosslinks enable each satellite to communicate with up to four other satellites in space, two in the same orbital plane and two in adjacent planes.
−Removed: Our traffic is routed on a preplanned route between satellites to a predetermined satellite that is in contact with one of the Iridium teleport network, or TPN, locations.
+Added: Our traffic is routed on a preplanned route between satellites to a predetermined
+Added: satellite that is in contact with one of the Iridium teleport network, or TPN, locations.
The TPN sites then transmit and receive the traffic to and from the gateways, which in turn provide the interface to terrestrial-based networks such as the PSTN, a public land mobile network, or PLMN, and the internet.
The use of a TPN allows grounding traffic at multiple locations within our ground network infrastructure.
−Removed: This and other design elements provide flexibility that allows for rapid reconfiguration of grounding traffic from the satellites in the event of a space, antenna or ground routing anomaly and results in greater reliability
−Removed: of our network.
+Added: This and other design elements provide flexibility that allows for rapid reconfiguration of grounding traffic from the satellites in the event of a space, antenna or ground routing anomaly and results in greater reliability of our network.
The design of our space and ground control system also facilitates the real-time monitoring and management of the satellite constellation and facilitates service upgrades via software enhancements.
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If a satellite should fail or become unusable, in most cases we will be able to reposition one of our in-orbit spare satellites to take over its functions within days, with minimal impact on our services.
+Added: We do not currently hold any active in-orbit insurance policies covering losses from satellite failures, and we do not expect to obtain in-orbit insurance covering losses from satellite failures or other operational problems affecting our constellation.
Our primary commercial gateway is located in Tempe, Arizona, with a second dedicated commercial gateway located in Russia.
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We believe this provides us with significant flexibility and contributes to the longevity of the constellation by enabling engineers to develop additional functionality and software-based solutions to occasional faults and anomalies in the system.
−Removed: We continuously monitor and upgrade our gateway and TPN facilities as necessary and also maintain an inventory of spare parts.
+Added: We continually monitor and upgrade our gateway and TPN facilities as necessary and also maintain an inventory of spare parts.
When we do not have necessary spares in inventory or our spares become obsolete, we may rely on third parties to develop necessary parts.
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The Iridium constellation also hosts the Aireon system.
−Removed: The Aireon system was developed by Aireon LLC, which we formed in 2011, with subsequent investments from the ANSPs of Canada, Italy, the United Kingdom, Denmark and Ireland, to provide a global air traffic surveillance service through a series of ADS-B receivers on our satellites.
−Removed: Aireon has contracted to offer this service to our co-investors in Aireon, as well as other ANSPs.
−Removed: These ANSPs use the service to provide improved air traffic control services over the oceans, as well as polar and remote regions.
−Removed: Aireon also plans to market the data to airlines and other users.
+Added: The Aireon system was developed by Aireon LLC, which we formed in 2011 and which received subsequent investments from several ANSPs, to provide a global air traffic surveillance service through a series of ADS-B receivers on our satellites.
+Added: Aireon has contracted to offer this service to ANSPs, which use the service to provide improved air traffic control services over the oceans, as well as polar and remote regions.
+Added: Aireon also markets its data and services to airlines and other commercial users.
Under our agreements with Aireon, Aireon will pay us fees of $200.0 million to host the ADS-B receivers on our satellites, of which they have paid us $94.5 million as of December 31, 2023.
−Removed: These fees will be recognized over the life of the satellites, or approximately $16.0 million per year.
+Added: These fees are recognized over the estimated useful life of the satellites.
Additionally, Aireon pays power and data services fees of approximately $23.5 million per year in the aggregate for the delivery of the air traffic surveillance data over the Iridium system.
−Removed: While the Aireon ADS-B receivers are the primary hosted payload on our satellites, we have also entered into an agreement with L3Harris for it to utilize the remaining space for payloads it has constructed for its customers.
−Removed: This agreement resulted in an additional $74.1 million in hosting and data service fees, all of which L3Harris has paid as of December 31, 2022.
−Removed: In September 2022, we announced that we have entered into an agreement with SpaceX to launch up to five of our remaining ground spare satellites on a Falcon-9 rocket from Vandenberg Space Force Base in mid-2023.
−Removed: We do not currently hold any active in-orbit insurance policies covering losses from satellite failures, and we do not expect to obtain in-orbit insurance covering losses from satellite failures or other operational problems affecting our constellation.
−Removed: We also do not plan to purchase launch insurance for the planned launch of our remaining spare satellites.
+Added: While the Aireon ADS-B receivers are the primary hosted payload on our satellites, L3Harris utilizes a portion of the remaining space for its customers’ payloads.
+Added: This agreement resulted in an additional $74.1 million in hosting and data service fees to us, all of which has been paid.
Regulatory Matters
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We have certain de-orbit obligations under our FCC licenses.
−Removed: We began de-orbiting individual first generation satellites as they were replaced with new satellites.
−Removed: We completed the required de-orbit initiation process for our first-generation satellites during 2019.
−Removed: All of our second-generation satellites are subject to a 25-year de-orbit standard.
−Removed: We plan to de-orbit our second-generation consistent with this standard, in accordance with the FCC authorization of our current constellation.
+Added: All of our second-generation satellites are subject to a 25-year de-orbit standard under the FCC authorization of our current constellation.
Aireon LLC and Aireon Holdings LLC Agreement
−Removed: We hold our ownership in Aireon LLC through the Amended and Restated Aireon Holdings LLC Agreement, along with subsidiaries of our co-investors NAV CANADA, the ANSP of Canada;
−Removed: Enav S.p.A., the ANSP of Italy;
−Removed: Naviair, the ANSP of Denmark;
−Removed: Irish Aviation Authority Limited, the ANSP of Ireland;
−Removed: and NATS (Services) Limited, the ANSP of the United
+Added: We hold our ownership in Aireon LLC through the Amended and Restated Aireon Holdings LLC Agreement, along with subsidiaries of our ANSP co-investors.
Aireon Holdings holds 100% of the membership interests in Aireon LLC, which is the operating entity for the Aireon system.
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The other investors hold the remaining preferred membership interests resulting from their investments in Aireon for an aggregate purchase price of approximately $339 million.
−Removed: At December 31, 2022, our fully diluted ownership stake in Aireon Holdings was approximately 39.5%, up from 35.7% at December 31, 2021.
−Removed: If and when funds are available, Aireon Holdings is required to redeem a portion of our common ownership interest for a payment to us of $120 million, following which NAV CANADA’s subsidiary will hold a 42% interest in Aireon Holdings, and the other ANSP subsidiaries will collectively hold a 31% interest, with Iridium retaining a 27% interest.
+Added: At each of December 31, 2023 and 2022, our fully diluted ownership stake in Aireon Holdings was approximately 39.5%.
+Added: If and when funds are available, Aireon Holdings is required to redeem a portion of our common ownership interest for a payment to us of $120 million, following which we would retain a 27% interest.
Based on Aireon’s business plan and restrictions under Aireon’s debt facility, we do not expect this redemption of our ownership interest to occur for several years.
−Removed: The Aireon Holdings LLC Agreement provides for Aireon Holdings to be managed by a board of directors consisting of 11 members.
−Removed: Currently, we may nominate two directors, NAV CANADA may nominate five directors, and the other ANSPs nominate a total of three directors.
−Removed: The chief executive officer of Aireon Holdings serves as the eleventh director.
−Removed: The Aireon Holdings LLC Agreement also provides the minority-interest holders, including us, with several protective provisions.
−Removed: We account for our investment in Aireon Holdings as an equity method investment.
−Removed: We and the other Aireon investors have agreed to participate pro-rata, based on our respective fully diluted current ownership stakes, in funding an investor bridge loan to Aireon.
−Removed: Our maximum commitment under the investor bridge loan is $10.7 million.
−Removed: In December 2020, we loaned $0.2 million to Aireon , which was subsequently repaid in June 2021.
+Added: The Aireon Holdings LLC Agreement provides for Aireon Holdings to be managed by a board of directors consisting of 11 members, of which we have the right to nominate two directors.
+Added: The Aireon Holdings LLC Agreement also provides the minority holders, including us, with several protective provisions.
+Added: We account for our investment in Aireon Holdings in our consolidated financial statements as an equity method investment.
+Added: We and the other Aireon investors have agreed to participate pro rata, based on our respective fully diluted current ownership stakes, in funding an investor bridge loan to Aireon as needed.
+Added: Our maximum commitment under the investor bridge loan is $11.9 million, although no amount was outstanding at December 31, 2023.
The mobile satellite services industry is highly competitive, and we currently face substantial competition from other service providers that offer a range of mobile and fixed communications options.
−Removed: Currently, our principal mobile satellite services competitors are Inmarsat, Globalstar, ORBCOMM, and Thuraya Telecommunications Co., or Thuraya.
+Added: Currently, our principal mobile satellite services competitors are Viasat, Globalstar, ORBCOMM, and Thuraya Telecommunications Co., or Thuraya.
We compete primarily on the basis of coverage, quality, mobility and pricing of services and products.
−Removed: Inmarsat, which has agreed to be acquired by Viasat, owns and operates a fleet of GEO satellites.
+Added: Viasat, following its acquisition of Inmarsat, owns and operates a fleet of GEO satellites.
Unlike LEO satellites, GEO satellites orbit the earth at approximately 22,300 miles above the equator.
GEO systems require substantially larger and more expensive antennas, and typically have higher transmission delays than LEO systems.
−Removed: Due to its GEO system, Inmarsat’s coverage area covers most bodies of water except for a majority of the polar regions.
−Removed: Inmarsat is the leading provider of satellite communications services to the maritime sector.
−Removed: Inmarsat also offers land-based and aviation communications services.
+Added: Due to its GEO system, Viasat’s coverage area covers most bodies of water except for a majority of the polar regions.
+Added: Viasat is the leading provider of satellite communications services to the maritime sector.
+Added: Viasat also offers land-based and aviation communications services.
Globalstar owns and operates a fleet of LEO satellites.
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This design requires the use of multiple ground stations, which are impractical in extreme latitudes or over oceans.
−Removed: ORBCOMM, which was acquired in 2022 by GI Partners, a private equity firm, also provides commercial services using a fleet of LEO satellites.
+Added: ORBCOMM also provides commercial services using a fleet of LEO satellites.
Like Globalstar, ORBCOMM’s network also has a “bent pipe” architecture, which constrains its real-time coverage area.
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Because a ground station may not be within view of a satellite, ORBCOMM’s services may have a significant amount of latency, which may limit their use in some mission-critical applications.
−Removed: It does not offer voice service or high-speed data services.
+Added: ORBCOMM does not offer voice service or high-speed data services.
We also compete with regional mobile satellite communications services in several geographic markets.
−Removed: In these cases, the majority of our competitors’ customers require regional, not global, mobile voice and data services, so our competitors may present a viable alternative to our services.
+Added: In these cases, the majority of our competitors’ customers only require regional, not global, mobile voice and data services, so our competitors may present a viable alternative to our services.
All of these regional competitors operate or plan to operate GEO satellites.
Our regional mobile satellite services competitors currently include Thuraya, principally in Europe, the Middle East, Africa, Australia and several countries in Asia.
−Removed: In addition, there are a number of new entrants to the mobile satellite services industry, including Starlink and OneWeb, with varying constellation designs and business models, primarily providing commodity broadband services similar to existing GEO-based fixed satellite services operators.
−Removed: New entrants face significant challenges, including the cost and difficulty associated with obtaining spectrum licenses and successfully building and launching a satellite network.
−Removed: In addition to cost, there is a significant amount of lead time associated with obtaining the required licenses, building
−Removed: and launching the satellite constellation, and deploying the ground network technology.
−Removed: While many new entrants have announced Ka and Ku-band operations and business plans that are different from, and even complementary to, Iridium’s L-band services, some may in the future provide services that compete with us.
+Added: In addition, there are a number of more recent entrants to the mobile satellite services industry, including Starlink and OneWeb, with varying constellation designs and business models.
+Added: These newer entrants are primarily focused on commodity broadband services, where Iridium often operates as a companion service.
+Added: We also see some of these companies investing in direct-to-device services that in the future may increase competition for products Iridium is offering or plans to offer.
While we view our services as largely complementary to terrestrial wireline and wireless communications networks, we also compete with them indirectly.
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To the extent that terrestrial communications companies invest in underdeveloped areas, we will face increased competition in those areas.
−Removed: We believe that local telephone companies currently are reluctant to invest in new switches, landlines and cellular towers to expand their networks in rural and remote areas due to high costs and limited usage.
+Added: We believe that local telephone companies currently are reluctant to invest in new switches, landlines and cellular towers to
+Added: expand their networks in rural and remote areas due to high costs and limited usage.
Many of the underdeveloped areas are sparsely populated, making it difficult to generate the necessary returns on the capital expenditures required to build terrestrial wireless networks in those areas.
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Employees and Human Capital Resources
−Removed: As of December 31, 2022, we had 658 full-time employees and 5 part-time employees, none of whom are subject to any collective bargaining agreement.
+Added: As of December 31, 2023, we had 760 full-time employees and six part-time employees, none of whom are subject to any collective bargaining agreement.
We consider our employee relations to be good.
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Our company is made up of varied and creative teams, and we are committed to creating an innovative and inclusive environment where our employees are proud to work.
−Removed: We foster this sentiment by focusing on development, employee wellness and social responsibility.
+Added: We foster this goal by focusing on development, employee wellness and social responsibility.
This starts with an onboarding process that introduces our core mission and values, policies and procedures, performance review process and background about our company.
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We take responses from our employees seriously and use them to inform specific strategies every year tailored to both the entire company as well as specific teams.
−Removed: In 2022, we introduced an annual survey to understand what benefits are important to our employees and ensure that we are offering a competitive total rewards package.
−Removed: We also help our employees stay engaged in other ways, including participation in Employee Resource Groups, or ERGs, volunteer activities through the Iridium Cares Program, and other outreach efforts that cover a range of topics and interests.
−Removed: In 2022, we launched the Iridium Co-Pilot Program, offering new hires a smoother onboarding process over their first 90 days with our company.
+Added: In addition to performing benchmarking, we also conduct an annual survey to understand what benefits are important to our employees and ensure that we are offering a competitive total rewards package.
+Added: We offer various ways for our employees to stay engaged, including participation in Employee Resource Groups, or ERGs, volunteer activities through the Iridium Cares Program, and other outreach efforts that cover a range of topics and interests.
+Added: In 2023, we launched our first cohort of the Iridium Orbit Program.
+Added: Participants in this program embed with three engineering teams over 18 months, completing six-month rotations in operations, engineering, and customer care across our company in Arizona and Virginia.
+Added: This program aims to increase cross-functional knowledge and ensure new hires feel engaged and supported in their new roles.
We formed our Diversity and Inclusion Advisory Council in 2020, and it has identified four objectives to make our Iridium community, and the world, a more diverse and inclusive place:
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• Periodically assessing our continual growth toward greater diversity and inclusion.
+Added: In 2022, we introduced the Uplinks program, which aims to embrace new ideas and the diversity of thinking across our teams.
+Added: This popular program pairs employees from different generations to encourage intra-company conversations and promote collaboration.
We currently have four working groups to put these objectives into practice.
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This intellectual property is essential to our ability to continue to operate aspects of our constellation and sell certain of our services and devices.
−Removed: We maintain our licenses with Motorola Solutions pursuant to several agreements, which can be terminated by Motorola Solutions upon the commencement by or against us of any bankruptcy proceeding or other specified liquidation proceedings or upon our material failure to perform or comply with any provision of the agreements.
+Added: We maintain our licenses with Motorola Solutions pursuant to several agreements, any of which can be terminated by Motorola Solutions upon the commencement by or against us of any bankruptcy proceeding or other specified liquidation proceedings or upon our material failure to perform or comply with any provision of the agreements.
If Motorola Solutions were to terminate any such agreement, it may be difficult or, under certain circumstances, impossible to obtain the technology from alternative vendors.
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.