Beam Receives $2.5M New Order for Iridium GO!® Devices

MELBOURNE, AUSTRALIA, 7th October 2022: Beam Communications Holdings Ltd (ASX: BCC) is pleased to announce Beam receives ~$2.5M new order for Iridium GO!® devices. 

Beam Communications Holdings Ltd (ASX: BCC) is pleased to announce that it has received further orders worth over US$1.6 million ($2.5 million) for the manufacturing of Iridium GO! devices from its long-standing partner and leading satellite services company Iridium Communications Inc. (NASDAQ: IRDM).

The new order, which is expected to be delivered in FY24, is to meet strong ongoing demand for the popular portable satellite hotspot device. Even as next generation Iridium CertusTM devices are introduced to the market, the Iridium GO! is well positioned with its small size, functionality and affordability.

“The Iridium GO! will continue to be a popular device among users due to its highly portable form factor and attractive price point,” said Beam’s Managing Director, Michael Capocchi.

“Satcom devices also have uniquely long product lifecycles that typically extend for over 10 years. For this reason, Beam makes an enviable return on capital for product innovations that is difficult to match by other consumer electronics firms.”

Iridium GO!, which was jointlydesigned and developed by Beam and Iridium, was launched eight years ago. Over that period of time, Beam has received manufacturing orders for 67,500 units from Iridium. To give a sense of how successful Iridium GO! has been, the initial minimum order commitment from Iridium in 2014 was only for 5,000 units.

This announcement was approved by the Board of Directors.

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