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    Greg Mesniaeff • Kingswood Capital Partners

    Greg Mesniaeff's questions to Iridium Communications Inc (IRDM) leadership

    Greg Mesniaeff's questions to Iridium Communications Inc (IRDM) leadership • Q2 2025

    Question

    Greg Mesniaeff of Kingswood Capital Partners inquired about Iridium's strategy for broadening its partner network across different verticals and the potential impact on SG&A expenses. He also asked for more details on the recently announced partnership with Syniverse.

    Answer

    CEO Matthew Desch stated that the company can expand its partner base within the current SG&A envelope by focusing on larger partners like MNOs and new verticals such as autonomous systems. He explained that the Syniverse partnership is crucial for the Iridium NTN Direct service, as it provides a seamless connection to the global cellular ecosystem for roaming and billing, eliminating a significant development hurdle for Iridium.

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    Greg Mesniaeff's questions to Ribbon Communications Inc (RBBN) leadership

    Greg Mesniaeff's questions to Ribbon Communications Inc (RBBN) leadership • Q2 2025

    Question

    Greg Mesniaeff of Kingswood Capital Partners asked about the significant sequential increase in deferred revenue and its implications for future quarters. He also questioned why Q3 gross margin guidance wasn't more aggressive, given the high hardware sales in Q2, suggesting a "razor/razorblade" effect.

    Answer

    President, CEO & Director Bruce McClelland explained that deferred revenue is influenced by the timing of maintenance contract renewals, which often peak in Q4, and by large, multi-quarter product and service programs. Regarding gross margin, he noted that while it is expected to improve sequentially in Q3 due to a better software mix, it remains lower year-over-year because of increased professional services tied to modernization projects.

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