Network connectivity provider
395 W. Passaic Street, Suite 325
Rochelle Park, NJ 07662
+1 (703) 433-6300
If the Q1 2015 numbers are indicative of the year ORBCOMM is having, and we think they are, the company’s competitors had better watch out. Total revenues during this timeframe were up 119% over the prior year to $42.3 million; service revenues were up 65% year-over-year to $23.8 million; and product sales ($18.6 million) were 277% higher than the year before.
Strategy comes in many different forms, and it seems ORBCOMM is going for all of them. The acquisitions of InSync Software and SkyWave Mobile Communications have been positive for the company. These deals added to its Q1 numbers, which included a full quarter of SkyWave and about 11 weeks of InSync, alongside organic growth of more than 30%.
ORBCOMM continues to enhance its product portfolio in a big way. After launching commercial service for its first six next-gen OG2 satellites and improving service to its customers, ORBCOMM launched its GT 1100-CTS (chassis tracking solution) to the transportation and distribution industry. Its subsidiary, SkyWave, also launched the dual-mode IDP-782 communications terminal, which provides fleet managers with a single device for both cellular and satellite network coverage.
New partnerships have also been strong, including a multi-year services agreement with Komatsu to continue providing wireless data services for Komatsu’s heavy equipment telematics applications. Customer wins include LBX, which selected ORBCOMM to provide satellite data communications for its global OEM (original equipment manufacturer) telematics application.
With 56% of its business in the U.S., and the rest in regions such as Europe and South America, ORBCOMM is continually looking for ways to expand operations into new territories and new markets. The company not only offers a wide selection of capabilities—from connectivity and hardware solutions to Web applications and software—it’s supported by one of the largest engineering teams in the commercial M2M industry.
Aiming to connect the world’s assets and deliver business-critical information to and from virtually any place in the world, the company is enhancing the decision making ability of companies in transportation and logistics, OEM/heavy equipment, energy, and beyond.
- Completed acquisitions of InSync and SkyWave
- 650 direct customers in industries such as transportation/logistics, OEM/heavy equipment, and energy
- Launched award-winning SkyWave IDP-782 dual-mode communications terminal for fleet managers