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Jun 30, 2024
Globalstar Q2 2024 Earnings Report
Reported record revenue driven by growth in wholesale capacity services and other business initiatives, leading to a 20% increase in Adjusted EBITDA and an increase in cash on hand.
Key Takeaways
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.
Total revenue increased by 10% to $60.4 million compared to Q2 2023.
Service revenue increased by 18% due to growth in wholesale capacity services and Commercial IoT.
Adjusted EBITDA increased by 20% to $32.6 million.
Company raised the low end of its revenue guidance for full year 2024 to $235 million and projected Adjusted EBITDA margin to 53%.
Revenue by Segment
Forward Guidance
Globalstar is raising its financial outlook for full year 2024.
Positive Outlook
- Total revenue between $235 million and $250 million.
- Adjusted EBITDA margin of approximately 53%.
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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