Lacklustre Business model, page-7

I must also agree with @ChineseWalls here but will admit I am biased, so take with a grain of salt etc.

The old product lines are selling but even now, bandwidth on sat devices is extremely limited, so it means their business has traditionally, and still is, a niche communications market. Also previously, and still a problem, is that as the world becomes more connected across land/sea (ground level), the less opportunity there are for lower bandwidth global devices (like satelite comms).

The current market is in what I would call early stage transformation though, with satelites now being able to deliver a similar services to early internet protocols and modems, and starting to achieve higher bit-rates faster than ever before as technology progresses.

This has given way to Beam's new business segment which is personal devices, which is the most likely long-term growth driver in a major way, while the growth from the traditional devices will grow but not as fast. You might ask, why would I buy a satellite phone - well remote areas, if you're going to a lot of different countries (one subscription) etc.

So it really depends how far and fast the technology comes in terms of bandwidth, but the last few years has seen exponential increases.