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Jun 30, 2022
Globalstar Q2 2022 Earnings Report
Financial performance improved significantly, with revenue increasing by over 21%, Adjusted EBITDA surging almost 50%, and the highest level in the company's history was reached.
Key Takeaways
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.
Revenue increased by 21% compared to the second quarter of 2021, driven by higher service revenue.
Adjusted EBITDA increased by 49% compared to the prior year's quarter, reaching its highest level in the company's history.
A binding agreement was executed for 23,000 SmartOne devices for remote monitoring in the alternative energy industry.
The Realm Enablement Suite was introduced to enhance Commercial IoT offerings.
Revenue by Segment
Forward Guidance
The first half of 2022 was very strong with financial and operational achievements that are expected to propel the company into an even better second half.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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