|The only positive is CEO and insiders do own quite a few shares. They still burn cash and new subscription rate slower than I would like. |
It was a better value Buy when I bought (7/2015) as they had more cash on hand. Technology is still quite good but other systems/tracking can now be done through low earth orbit satellites rather than using old iridium satellites.
Therefore, will need to evaluate their future prospects and plan. China was the big growth market and they continue to win orders. Their core technology continues to be upgraded through software and maybe they may/could have that carried over newer satellite backbone networks.
It's a niche business w/ few players. Board members also have experience in airline business so understand the technology & marketing challenges.
There is always the possibility they get bought out by a Honeywell/Lockheed and/or BA to add to their service business. Their $40mln market cap is quite small and a bargain just to acquire their subscriber base (ie cost per subscriber).
So that is where the real value lies, their subscribers.