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Tim Horan

Managing Director and Senior Analyst at Oppenheimer & Co. Inc.

Tim Horan is a Managing Director and Senior Analyst at Oppenheimer & Co. Inc., specializing in cloud and communication services with a focus on emerging technologies and infrastructure. He covers a wide range of major communications and technology firms, including Verizon, Microsoft, and AT&T, and has achieved a 60% success rate on stock recommendations with an average return of 8.6% per rating according to TipRanks, highlighted by a top call yielding over 622% return. Beginning his analyst career in 1994 and joining Oppenheimer in 1998 after time at Smith Barney, Horan has received industry recognition such as the Greenwich Associates Institutional Survey and Wall Street Journal All Star Analysts awards. He holds a CFA designation, a B.S. in Civil Engineering from Rutgers University, and an MBA with Beta Gamma Sigma honors from Columbia Business School, reflecting strong professional credentials and expertise.

Tim Horan's questions to Iridium Communications (IRDM) leadership

Question · Q3 2025

Tim Horan asked about the percentage of the world EchoStar's spectrum covers compared to Iridium's global coverage, the size of the PNT opportunity and Iridium's ability to hit revenue targets, and expectations for near-term revenue growth given the withdrawal of longer-term guidance.

Answer

CEO Matt Desch explained that spectrum coverage is complex due to ITU priority country by country, with Iridium having #1 priority in many nations. He noted EchoStar's geostationary spectrum requires reallocation and approval, which will take time, but acknowledged Starlink's potential for a more global system faster than anticipated. Mr. Desch expressed increased bullishness on PNT, seeing big opportunities despite lumpy timing, and highlighted its competitive advantage and complementarity to IoT. He preferred to provide specific near-term revenue guidance in February but reiterated confidence in cash flow projections.

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