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Jun 30, 2021
Globalstar Q2 2021 Earnings Report
Reported slight decrease in total revenue due to lower service revenue, offset by higher subscriber equipment sales.
Key Takeaways
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.
SPOT activations were up 33% and churn was down 40% from the second quarter of 2020.
Commercial IoT equipment sales more than doubled compared to the prior year period.
Loss from operations was $16.0 million, slightly higher than the $15.4 million in the second quarter of 2020.
Adjusted EBITDA was $9.8 million, consistent with the prior year's quarter.
Globalstar
Globalstar
Globalstar Revenue by Segment
Revenue by Segment
Commercial IoT Revenue
CapyFin.comSPOT Revenue
CapyFin.comDuplex Revenue
CapyFin.com Forward Guidance
No specific forward guidance was provided in the earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income