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Dec 31, 2022
Globalstar Q4 2022 Earnings Report
Globalstar's Q4 2022 financial results were announced, showcasing revenue growth and strategic advancements.
Key Takeaways
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.
Total revenue increased by 20% compared to Q4 2021, driven by service revenue and subscriber equipment sales.
Service revenue increased by 22%, primarily due to wholesale capacity services and commercial IoT growth.
Net loss decreased significantly from $24.0 million to $5.3 million year over year.
Adjusted EBITDA increased by 48% to $18.3 million, driven by higher revenue and controlled operating expenses.
Globalstar
Globalstar
Globalstar Revenue by Segment
Revenue by Segment
Wholesale Capacity Services Revenue
CapyFin.comCommercial IoT Revenue
CapyFin.comSPOT Revenue
CapyFin.comDuplex Revenue
CapyFin.com Forward Guidance
Globalstar anticipates continued revenue growth and rapidly expanding Adjusted EBITDA, positioning the Company to execute as a telecom infrastructure provider across its four value drivers.
Positive Outlook
- Continued revenue growth expected.
- Rapidly expanding Adjusted EBITDA.
- Positioned to execute as a telecom infrastructure provider.
- Spain authorized Globalstar to provide complementary terrestrial services.
- Completed preliminary design review with MDA and Rocket Lab for satellite procurement.
Challenges Ahead
- n/a