Globalstar Earnings Reports

Globalstar delivered strong second quarter 2025 results with revenue increasing 11% to $67.1 million and net income reaching $19.2 million. Adjusted EBITDA for the quarter was $35.8 million, reflecting a 53% margin. The company is on track with its infrastructure expansion plan for the C-3 satellite system and has reaffirmed its full-year financial guidance.

Globalstar reported a 6% increase in first-quarter 2025 revenue, reaching $60.0 million, primarily driven by wholesale capacity services. The company posted a net loss of $17.3 million and an Adjusted EBITDA of $30.4 million. Globalstar also launched a two-way satellite commercial IoT solution and reiterated its full-year 2025 financial guidance.

Globalstar's Q4 2024 revenue increased 17% year-over-year to $61.2 million, driven by strong growth in wholesale capacity services. Adjusted EBITDA rose 21% to $30.4 million, while the net loss widened to $50.2 million, primarily due to a non-cash loss on debt extinguishment and foreign currency fluctuations. The company maintained a strong cash position with $391.2 million in cash and equivalents.

Globalstar's Q3 2024 financial results showed significant growth, with a 25% increase in total revenue driven by wholesale capacity services. Net income and Adjusted EBITDA also saw substantial improvements. The company has increased the low end of its revenue guidance to $245 million from $235 million and Adjusted EBITDA margin to 54% from 53%.

Globalstar reported a 10% increase in total revenue to $60.4 million for Q2 2024, driven by an increase in service revenue, particularly from wholesale capacity services and Commercial IoT. Adjusted EBITDA increased by 20% to $32.6 million, and cash on hand increased to $64 million. The company raised the low end of its revenue guidance to $235 million and projected Adjusted EBITDA margin to 53% for the full year 2024.

Globalstar reported its Q1 2024 financial results, showing a net loss of $13.2 million compared to a net loss of $3.5 million in Q1 2023. Total revenue was $56.48 million, slightly lower than the $58.644 million reported in the same period last year. Adjusted EBITDA was $29.6 million, down from $32.6 million in the prior year's first quarter. The company reiterated its full-year 2024 revenue guidance of $225 million to $250 million and an Adjusted EBITDA margin of approximately 50%.

Globalstar announced record annual revenue of $224 million, a year-over-year increase of over 50%. The company's Q4 revenue increased by 27% to $52.4 million compared to Q4 2022, driven by higher service revenue. The company is making progress on new products, services and solutions with significant revenue opportunities across wholesale capacity, legacy, IoT and terrestrial wireless solutions.

Globalstar announced its Q3 2023 results, marked by a 53% increase in total revenue and a 125% increase in Adjusted EBITDA compared to the same quarter last year. The company is increasing its full year 2023 total revenue guidance to a range between $215 and $230 million.

Globalstar reported a strong second quarter in 2023, with a 50% increase in total revenue and an 86% increase in Adjusted EBITDA compared to the same period last year. The company's growth was primarily driven by higher wholesale capacity service revenue and increased commercial IoT revenue. As a result of this sustained growth, Globalstar is tightening its previously issued guidance, increasing the low end of the 2023 revenue range from $185 million to $200 million.

Globalstar reported a strong first quarter in 2023, marked by record revenue growth and significant improvements in operating income and net loss. The company's success was driven by growth in service revenue, particularly from wholesale capacity services and Commercial IoT, as well as increased subscriber equipment sales. Globalstar is focused on executing its strategy across wholesale, legacy, IoT, and terrestrial spectrum to drive sustainable revenue growth.

Globalstar reported a 20% increase in total revenue for Q4 2022, driven by growth in service revenue and subscriber equipment sales. The company's net loss decreased significantly, and Adjusted EBITDA increased by 48%. Strategic advancements include terrestrial authorization in Spain and progress in satellite procurement.

Globalstar's Q3 2022 total revenue increased by 15% year-over-year, driven by a rise in service revenue. However, the company reported a net loss of $204.4 million, primarily due to a non-cash charge of $174.5 million related to the abandonment of its second-generation Duplex assets. Adjusted EBITDA increased by 35% to $14.2 million.

Globalstar announced strong second quarter results with a 21% increase in revenue and a nearly 50% surge in Adjusted EBITDA. The company executed a binding agreement for 23,000 SmartOne devices in the alternative energy industry and introduced the Realm Enablement Suite to enhance Commercial IoT offerings. Production issues are being resolved, and the company anticipates higher equipment revenue in the second half of 2022. The company is actively pursuing financing for satellite construction costs and expects terrestrial approval of Band 53/n53 in additional countries.

Globalstar announced its Q1 2022 results, reporting a 22% increase in total revenue driven by higher service revenue from engineering services, and a $15.9 million improvement in net loss due to lower interest expense and favorable changes in foreign currency and derivative losses. The company is focused on expanding its satellite business and terrestrial spectrum opportunities.

Globalstar's Q4 2021 results showed a 4% increase in total revenue compared to Q4 2020, driven by growth in service revenue and subscriber equipment sales. The company also made significant progress in terrestrial spectrum development and secured a satellite procurement agreement to replenish its existing constellation. Adjusted EBITDA increased by 26% year-over-year.

Globalstar reported a slight decrease in total revenue for Q3 2021 compared to Q3 2020, but experienced positive momentum in SPOT and Commercial IoT with increased service and equipment revenue. SPOT activations continued at record levels, and Commercial IoT activations continued to increase. The company also saw a decrease in loss from operations and adjusted EBITDA.

Globalstar announced its Q2 2021 results, with total revenue decreasing slightly compared to Q2 2020. The decrease in service revenue was primarily due to fewer Duplex subscribers, while subscriber equipment sales increased, driven by higher Commercial IoT and SPOT sales. The company is focused on transitioning to an internet of things focused service and capitalizing on opportunities in the Commercial IoT space.

Globalstar reported a decrease in total revenue by 16% compared to Q1 2020, primarily due to a decline in engineering service revenue. However, the company saw positive signs of recovery in the Commercial IoT sector and made strategic advancements in network infrastructure and terrestrial spectrum monetization. The company also completed second lien warrant exercises, satisfying loan agreement requirements.

Globalstar, Inc. reported a 4% increase in total revenue for Q4 2020, driven by a rise in service revenue, particularly from engineering services. The company continues to focus on terrestrial spectrum commercialization and IoT growth, marked by key partnerships and product developments. Despite challenges in the oil and gas sector impacting Commercial IoT, Globalstar is optimistic about future growth, especially with advancements in 5G technology and private network opportunities.

Globalstar reported a decrease in total revenue by 6% compared to Q3 2019, primarily due to a decline in service revenue. Despite challenges, the company saw record SPOT subscriber activations and advancements in terrestrial spectrum authorizations. The net loss for the quarter was $24.9 million, a significant shift from the net income of $21.1 million in the same period last year, primarily due to changes in non-cash derivative gains.

Globalstar reported a 3% decrease in total revenue due to lower subscriber equipment sales, offset by an increase in service revenue. The company launched new products, including the ST100 and the SPOT Gen4™, and expanded its global gateway coverage. Adjusted EBITDA increased to $9.8 million.

Globalstar reported a 7% increase in total revenue for Q1 2020 compared to Q1 2019, primarily due to engineering service revenue. However, the company experienced a net loss due to a non-cash derivative loss and foreign exchange rate changes. The COVID-19 pandemic negatively impacted subscriber equipment sales and service pricing, particularly in the oil and gas and retail industries.

Globalstar reported Q4 2019 total revenue of $31.835 million, essentially flat compared to Q4 2018. The net loss for the quarter was $37.747 million, a significant decrease from the $96.453 million loss in the same period of 2018, primarily due to changes in non-cash derivative valuation adjustments. Adjusted EBITDA increased slightly to $9.798 million.